TORONTO, ONTARIO--(Marketwire - July 20, 2012) - Macusani Yellowcake Inc. (the "Company") (TSX VENTURE:YEL)(FRANKFURT:QG1) is pleased to announce that Dr. Laurence Stefan, currently serving as the Company's Managing Director, Peru, has been appointed as President and Chief Executive Officer effective August 1, 2012. Dr. Stefan replaces Peter Hooper, who has resigned as President and Chief Executive Officer, effective July 31, 2012 to pursue other activities, including his recently announced appointment as President & Chief Executive Officer of PC Gold Inc. Mr. Hooper will remain as a Director and consultant to the Company.
Dr. Stefan is a founder of Macusani Yellowcake and has served as its Managing Director in Peru since October 2007 when the Company went public. He is also the founder of the Colibri Group of Companies, a mineral service company based in Lima, Peru. Dr. Stefan previously worked at Gold Fields of South Africa and JCI (Pty) Ltd. with recent years spent mainly on South American projects. He has been involved in basic and specialized research in uranium metallurgical, recovery and enrichment programs at various gold-uranium mines along the Witwatersrand Basin in South Africa and Namibia Dr. Stefan holds an M.Sc. (Geology & Mining Engineering) and a Ph.D. (Economic Geology).
Alan Ferry, Chairman of the Company, stated, "On behalf of the Board, I would like to thank Peter for his contribution to the Company over his 6-year tenure as CEO. His experience and leadership have been key in the formation and early development of Macusani Yellowcake. We wish him all the best in his future endeavours. We are pleased that Laurence Stefan has agreed to become the President and CEO. His extensive experience in Peru and the Macusani Plateau will be significant in advancing the project."
About Macusani Yellowcake
Macusani Yellowcake Inc. is a Canadian uranium exploration and development company focussed on the exploration of its properties on the Macusani Plateau in south-eastern Peru. The Company has concessions which cover over 90,000 hectares (900 km2) and are situated near significant infrastructure. Macusani Yellowcake is listed on the TSX Venture Exchange under the symbol 'YEL' and the Frankfurt Exchange under the symbol 'QG1'. The Company has 167,047,475 shares outstanding. For more information please visit www.macyel.com.
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.