TORONTO, March 21 /CNW Telbec/ - Baymount Incorporated ("Baymount") (TSX Venture: BYM) is pleased to announce that its wholly-owned subsidiary Belleville Racetrack Development Corporation ("BRDC") has received confirmation that the Alcohol and Gaming Commission of Ontario ("AGCO") has found the company suitable to act as Landlord for the proposed Ontario Lottery and Gaming Corporation ("OLGC") gaming premises to be located at the new Quinte Exhibition and Raceway.

Mr. Graham Simmonds, President and Chief Executive Officer of Baymount stated, "This is a significant accomplishment for our company and with this milestone now achieved the company can formalize its discussions with the OLGC with regards to the Site Holders Agreement and slot machine allocation for the new Quinte Exhibition and Raceway." He added, "Our development team has continued to refine our site and building plans for the new racetrack facility and we look forward to working with the OLGC to finalize these plans and begin the construction phase of the development."

Baymount's wholly-owned subsidiary BRDC has an agreement with the Belleville Agricultural Society to build a facility to relocate the Quinte Exhibition and Raceway in Belleville, Ontario. Quinte Exhibition and Raceway is one of the 18 racetrack licenses in Ontario eligible to participate in Ontario's Slots-at-Racetracks program. Baymount is also pursuing a standardbred racing license for the development of a new racetrack and gaming facility in Brandon, Manitoba.

For additional information please visit the company's website at www.baymountcorp.com.

For further information: please contact: Graham Simmonds, President and Chief Executive Officer, Baymount Incorporated, (416) 979-2881 x223, (416) 979-6708 (fax), graham@baymountcorp.com; Renmark Financial Communications Inc: Barry Mire, bmire@renmarkfinancial.com; John Boidman, jboidman@renmarkfinancial.com, (514) 939-3989, Fax : (514) 939-3717, www.renmarkfinancial.com