Macusani Yellowcake Inc.

Macusani Yellowcake Inc.

November 12, 2007 14:42 ET

Macusani Yellowcake Announces Listing on TSX Venture Exchange

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2007) - Macusani Yellowcake Inc. ("Macusani") is pleased to announce that its common shares will commence trading on the TSX Venture Exchange under the trading symbol "YEL" on Tuesday, November 13, 2007. Macusani was created by the amalgamation of privately held Macusani Yellowcake Inc. and Silver Net Equities Corp. ("Silver Net"), a TSX Venture Exchange capital pool company. The amalgamation constituted Silver Net's qualifying transaction under Exchange policies.

Macusani also wishes to provide an update on corporate developments subsequent to the September 14, 2007 date of the Joint Management Proxy and Information Circular provided to shareholders in connection with the amalgamation and filed on SEDAR. To comply with Exchange policies, consulting agreements providing for fees to be satisfied by the issuance of shares have been modified. The February 1, 2007 consulting agreement with Hooper Mining Services for the provision of the services of Peter Hooper as President and Chief Executive Officer of Macusani has been amended to provide for a quarterly fee of $31,250 payable in cash. Previously, a fee of $15,000 and 30,000 common shares per quarter was payable thereunder. The March 1, 2007 consulting agreement with Michael Baybak and Company, Inc. for the provision of investor relations and corporate marketing services has been amended to provide for a quarterly fee of $100,000 payable in cash. Previously, a fee of $87,500 or 250,000 common shares per quarter was payable thereunder. Lastly, the February 1, 2007 consulting agreement with IQuanox Inc. for the provision of administrative and financial and corporate advisory services has been amended to provide for a quarterly fee of $24,000 payable in cash. Previously, a fee of 60,000 common shares per quarter was payable thereunder. Further, at the request of the Exchange, this consulting agreement has been suspended pending the Exchange's satisfactory completion of background checks on the principals of IQuanox Inc. Each of the amending agreements provides that the company may at its option and subject to regulatory approval satisfy fees payable thereunder by the issuance of common shares valued at the then current market price.

The company also wishes to advise that, to satisfy Exchange requirements, an additional $130,820 in the aggregate has been contributed to the treasury of the company by nine early shareholders to bring the effective cost per share of their investment to a minimum of $0.05 per share.

About Macusani

Macusani controls over 20,000 hectares (2,000 km2) of mineral properties in Peru-Macusani, Munani, Lagunillas and Rio Blanco, all regions in Puno in southeastern Peru, where it is exploring for large, open pitable uranium deposits. A 6,500 m diamond drilling program is underway on the Macusani Plateau along a 4km long radiometric anomaly; assay results for the first series of drill holes are expected to be released shortly. Macusani believes that its properties are underlain by uraniferous volcanic ignimbrite breccia rocks similar to those currently being drilled on nearby properties.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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