Macusani Yellowcake Announces Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwired - June 23, 2014) -

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Macusani Yellowcake Inc. (TSX VENTURE:YEL)(FRANKFURT:QG1) ("Macusani" or the "Company") announced that it intends to proceed with a non-brokered private placement of equity units ("Units") to raise gross proceeds of up to C$1,000,000 (the "Financing"). The Units will be offered at a price of C$0.07 per Unit and each Unit will consist of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of C$0.10 for a period of 24 months following the closing of the Financing. Although the extent of any insider participation has not yet been determined, insiders of Macusani may subscribe for up to 100% of the Financing. Net proceeds from the Financing are anticipated to be used for property payments and for working capital and general corporate purposes.

The Financing is expected to be completed on or about June 27, 2014 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. Completion of the Financing will not be conditional upon the completion of the previously announced proposed acquisition of all of Azincourt Uranium Inc.'s adjacent uranium properties located in Peru. The parties continue to work towards finalizing a definitive agreement for the acquisition transaction however, there can be no assurance that a definitive agreement will be entered into or the transaction completed.

The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful.

About Macusani Yellowcake Inc.

Macusani Yellowcake Inc. is a Canadian uranium exploration and development company focused on the exploration of its properties on the Macusani Plateau in southeastern Peru. The company owns a 99.5% interest in concessions that cover over 90,000 hectares (900 km²) and are situated near significant infrastructure. Macusani is listed on the TSX Venture Exchange under the symbol 'YEL' and the Frankfurt Exchange under the symbol 'QG1'. The company has 159,473,613 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.