Macusani Yellowcake Inc.

Macusani Yellowcake Inc.

May 05, 2011 13:00 ET

Macusani Announces Proposed Nomination of Additional Directors at AGM

TORONTO, ONTARIO--(Marketwire - May 5, 2011) - Macusani Yellowcake Inc. (the "Company")(TSX VENTURE:YEL)(FRANKFURT:QG1) announced today that it has been advised by certain significant shareholders of the Company that they intend to nominate Philip Williams and Michael Harrison (the "Additional Nominees") for election as directors at the annual and special meeting of shareholders to be held in Toronto on May 9, 2011.

Based upon representations made to it and a review of publicly available information, management believes that the Additional Nominees have the requisite backgrounds, skills and experience to provide a valuable contribution to the board of directors and therefore does not intend to object to their nomination. The board of directors of the Company will pass the necessary resolutions regarding board size to permit the election of these directors at the shareholders' meeting.

Mr. Williams is vice-president, business development, for Pinetree Capital of Toronto, and has over 10 years of financial markets experience including, institutional brokerage as an equity research analyst, prior to his joining Pinetree in 2008. Mr. Williams is also vice-president, business development, of Mega Uranium Ltd. and holds a CFA designation along with a bachelor of commerce degree.

Mr. Harrison is vice-president, business development for Coeur d'Alene Mines Corp. Prior to joining Coeur d'Alene, Mr. Harrison was director of investment banking for the mining group at Cormark Securities Inc. in Toronto. In addition to seven years of investment banking experience, Mr. Harrison spent eight years in BHP Billiton's global exploration group after receiving his BS in geophysics engineering from Queen's University in Kingston, Ontario. Mr. Harrison also holds an MBA with distinction from the Ivey School of Business at the University of Western Ontario.

The Company also announces that Robert Bondy, a proposed nominee for election to the board in the Company's management information circular dated April 5, 2011, will not be standing for election at the meeting.

About Macusani Yellowcake

Macusani Yellowcake Inc. is a Canadian uranium exploration company with over 24,000 hectares (240 km 2) of mineral properties in southeastern Peru, on the Macusani Plateau. The shares are traded on the TSX Venture Exchange under the symbol 'YEL' and on the Frankfurt Exchange under the symbol 'QG1'.

This news release includes certain forward-looking statements concerning the future performance of Macusani's business, operations and financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in the Company's recent securities filings available at Actual events or results may differ materially from those projected in the forward-looking statements and Macusani cautions against placing undue reliance thereon. Neither Macusani nor its management assume any obligation to revise or update these forward-looking statements.

Neither the 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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