Yellowcake Mining Inc.
OTC Bulletin Board : YCKM

Yellowcake Mining Inc.

March 26, 2008 10:10 ET

Yellowcake Applies for Drilling Permit on Uravan-Beck Project, for Phase Uranium Conformation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 26, 2008) - Yellowcake Mining (OTCBB:YCKM) ("The Company") has applied for permits with the State of Colorado to drill on the Uravan-Beck properties. Permits are being requested for ten areas of previous development drilling covering locals that were intensively drilled but not mined by earlier operators, such as General Electric. There are at least 22 such areas on the property that have been drilled during the 1970's and 1980's. The Phase One drilling program will begin upon receipt of the permits. JBR Environmental Consultants, Salt Lake City, Utah has been retained to do permitting.

Bill Tafuri, Yellowcake CEO says: "We are anxious to get started on this program and to begin testing the mineralization that was inferred from the past exploration work. We see this area as having excellent potential to develop new resources."

All of Yellowcake's exploration programs are carried out under the supervision of the Richard Klatt, P.Geol., the Company's Vice President of Exploration and a "Qualified Person" for the purposes of NI 43-101. Mr. Klatt has approved of this news release.

LEGAL NOTICE REGARDING FORWARD LOOKING STATEMENTS

Statements in this news release, that are not purely historical are forward looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that we will obtain drilling permits from the State of Colorado; that we can begin testing the mineralization in the area; and that the area has potential to develop new resources. It is important to note that the Company's actual outcomes may differ materially from those statements contained in this press release. Factors which may delay or prevent these forward looking statements from being realized include misinterpretation of data, we may be unable to comply with required conditions for drilling, or drilling may not be permitted at all; that we may not be able to raise sufficient funds to complete the payment obligations; that equipment may not perform as anticipated; that weather, logistical problems or hazards prevent us from exploration, development or from fulfilling our obligations; that we may not be able to attract or retain key employees or advisors in the current competitive environment; that results in any particular holes are not necessarily indicative of larger areas of the property; and that despite encouraging data there may be no commercially exploitable mineralization on the properties based upon the applicable world uranium prices and the quality or grade of the resource. Readers should refer to the risk disclosures outlined in our periodic reports filed on Edgar with the Securities and Exchange Commission.

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