Macusani Yellowcake Inc.

Macusani Yellowcake Inc.

July 23, 2009 14:46 ET

Macusani Yellowcake Announces Commencement of Exploration on Recently Acquired Properties

TORONTO, ONTARIO--(Marketwire - July 23, 2009) - Macusani Yellowcake (TSX VENTURE:YEL) ("the Company") is pleased to announce the commencement of work and exploration programmes on its recently acquired Corachapi and Kihitian, concessions, on the Macusani Plateau, in Peru to determine the resource potential of the concessions and calculate resources in accordance with National Instrument 43-101 for both properties. (See press releases dated March 6, 2009 and June 30, 2009.)

On June 30, 2009 the Company completed the acquisition of two significant concessions, which are located in the vicinity of the Company's other concessions on the northeastern portion of the Macusani Plateau. The Company now controls four strategic properties on the Plateau which management believes have potential for significant uranium resources based on prior drilling or underground chip sampling.


The Corachapi property had been the subject of significant exploration, including 193 holes drilled by the previous operator, Ram Resources Limited ("Ram") of Perth, Australia (formerly Contact Uranium Limited). The Corachapi property covers the largest radiometric anomaly outlined by IPEN (the Peruvian Nuclear Authority) in the 1980s. The Company is completing assays from about half of the drill holes, and is splitting core, then assaying for the balance of the holes. The Mineral Corporation of South Africa is on site and, if required, will recommend any additional work to enable it to calculate resources for the property.


The Kihitian property contains over 800 m of adits with over 400 chip samples having previously been collected. The Company's geologists are formulating an exploration programme, which planned to commence this autumn.

Planned Milestones for 2009

- August - an NI 43-101 resource report on the Corachapi concessions from assays of approximately one half of the drill holes;

- early October - a Preliminary Economic Assessment study by GBM Consulting of England of the Company's total resources on the Plateau;

- late October - a final NI 43-101 resources report on the Corachapi concessions

Future Regional Exploration

The Company has over 12 unexplored anomalies in addition to the initial three that have been drilled. It is the intent to start exploration programmes this autumn on two of the twelve unexplored anomalies.

Qualified Person

Mr. Ian Foreman P.Geo., of Foremost Geological Consulting, an independent consultant, is a Qualified Person, as defined under National Instrument 43-101, and has reviewed the scientific or technical data contained in this release.

About Macusani Yellowcake

Macusani Yellowcake owns over 22,000 hectares (2,000 km2) of mineral properties on the Macusani Plateau in Peru.

There are 41,731,284 common shares of Macusani Yellowcake Inc. outstanding (55,807,712 common shares, fully diluted).

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

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