Macusani Yellowcake Inc.

Macusani Yellowcake Inc.

March 02, 2010 17:29 ET

Macusani Yellowcake Announces Appointment of New CFO/Listing on Frankfurt Stock Exchange

TORONTO, ONTARIO--(Marketwire - March 2, 2010) - Macusani Yellowcake Inc. ("Macusani" or the "Company") (TSX VENTURE:YEL)(FRANKFURT:QG1) is pleased to announce the appointment of Mr. Philip Gibbs as the Chief Financial Officer of the Company. The appointment is subject to regulatory approval.

Mr. Gibbs is a Chartered Management Accountant and has extensive financial management experience in large corporate environments in the manufacturing and retail sectors, both in North America and in Africa. His multi-disciplinary exposure includes areas of Market Research, Logistics and IT Systems implementations, providing a broad base of business acumen suited to growing businesses. He currently acts in a part-time capacity as the CFO of companies in the mining industry and consults in the field of project financing.

Mr. Gibbs replaces Mr. Paul Andersen who has served as the Chief Financial Officer of the Company since September 2008. Macusani would like to thank Mr. Andersen for his contribution to the Company during this formative period.

The Company also announced the commencement of trading of its common shares on the Frankfurt Stock Exchange under the trading symbol "QG1".

In connection with the Frankfurt listing and subject to regulatory approval, Macusani has engaged AXINO AG ("AXINO") of Stuttgart, Germany to provide investor relations services for the Company in Europe. AXINO is an investor relations agency providing a wide range of services to companies to help broaden investor exposure and develop a shareholder following in the European financial markets. AXINO represents numerous major and microcap resource-based companies in all phases of development. AXINO has an extensive network of contacts within the mining and financial communities, as well as media relationships across the German speaking financial communities. In consideration for the services to be provided, Macusani has agreed to pay AXINO from existing working capital a fee of €3,000 per month during the initial 12 month contract term. In addition, Macusani will reimburse AXINO for out-of-pocket expenses for press releases disseminated on its behalf. The contract will automatically renew for additional 12-month terms unless terminated by either party on 30 days notice prior to the end of any 12-month contract period. AXINO holds no direct or indirect interest in Macusani or its securities.

About Macusani Yellowcake

Macusani Yellowcake Inc. is a Canadian uranium exploration company with over 24,000 hectares (240 km2) of mineral properties in south-eastern Peru. The shares are traded on the TSX Venture Exchange under the symbol 'YEL' and on the Frankfurt Exchange under the symbol 'QG1'.

There are 59,881,284 common shares of Macusani Yellowcake Inc. outstanding.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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