Macusani Yellowcake Inc.
TSX VENTURE : YEL
FRANKFURT : QG1

Macusani Yellowcake Inc.

March 17, 2011 13:08 ET

Macusani Yellowcake Reprices Unit Offering/Files Final Prospectus

TORONTO, ONTARIO--(Marketwire - March 17, 2011) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES

Macusani Yellowcake Inc. (the "Company") (TSX VENTURE:YEL) (FRANKFURT:QG1) announced today that it has revised the pricing of its previously announced proposed short form prospectus offering of units (the "Units").

The Company has entered into an agency agreement with M Partners Inc., Raymond James Ltd. and Euro Pacific Canada Inc. (collectively, the "Agents") and has filed a (final) short form prospectus to qualify the distribution of a minimum of 16,666,667 and a maximum of 33,333,333 Units at a price of $0.60 per Unit for gross proceeds to the Company of a minimum of $10,000,000 and a maximum of $20,000,000. Each Unit will consist of one common share and one-half of one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.85 for a period of 24 months from the closing of the offering.

The Agents will be granted non-transferable options ("Compensation Options") to purchase a number of Units equal to 7.0% of the number of Units sold under the offering. Each Compensation Option will entitle the holder to acquire one Unit at a price of $0.60 for a period of 18 months from the closing of the offering.

The closing of the offering is expected to occur on or about March 23, 2011. The Company intends to use the net proceeds of the offering to fund further exploration of its Macusani Plateau properties in Peru and for working capital and general corporate purposes, as disclosed in the (final) short form prospectus.

This press release does not constitute an offer of the securities described herein in any jurisdiction. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold in the United States absent an exemption from registration.

About Macusani Yellowcake

Macusani Yellowcake Inc. is a Canadian uranium exploration company with over 24,000 hectares (240 km2) 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 www.sedar.com. 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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