Macusani Yellowcake Inc. ("Macusani" or "the Company") (TSX VENTURE:YEL) is
pleased to announce that it has signed a binding Letter of Intent with Australia
Stock Exchange listed RAM Resources Limited ("RAM") of Perth, Australia
(formerly Contact Uranium Limited) to acquire the Corachapi and Kihitian
Concessions, including all related data, on the Macusani Plateau in southeastern
Peru.


The Concessions are located in the vicinity of Macusani's other concessions in
the northeastern portion of the Macusani Plateau where the majority of uranium
exploration has been carried out by several companies. Over 10,000 metres of
drilling in 193 holes has been carried out on the Corachapi Concession which
covers the largest radiometric anomaly that was outlined by IPEN (the Peruvian
Nuclear Authority) during its work in the1980s. The Kihitian Concession contains
about 800 metres of underground adits dating from the IPEN uranium exploration
work in the 1980s. A resource has been previously calculated for the Corachapi
Concession utilizing the JORC Code which is not being adopted by Macusani.
Following acquisition, Macusani intends to conduct further exploration work on
the Corachapi Concession to enable it to calculate new resource figures in
accordance with National Instrument 43-101.


Peter Hooper, President of Macusani, stated, "This acquisition is of major
strategic importance to our Company which has already developed the largest NI
43-101 compliant uranium resource on the Macusani Plateau. We believe that these
two new concessions represent some of the most prospective ground for
significant additional uranium resources in the region. With this acquisition,
Macusani will now have four advanced exploration projects and the Company
believes it can develop significant uranium resources on each property".


The purchase price is $500,000, which will be settled by a minimum of $200,000
in cash and the balance by the issue to RAM of unsecured convertible debentures.
(the "Debentures"). The debentures will have a five year term, bear interest at
the rate of 10% per annum and will be convertible at the option of the holder at
any time after four months from the date of issue into Macusani common shares at
a price equal to 110% of the 20 day average closing price of Macusani shares on
the TSX Venture Exchange prior to closing. A deposit of $25,000 has been
provided to RAM in connection with the execution of the Letter of Intent which
is only refundable in limited circumstances. In connection with the transaction,
Macusani intends to offer on a private placement basis up to $500,000 principal
amount of Debentures, with any Debentures not placed to be issued to RAM in
satisfaction of the non-cash portion of the purchase price. The Debentures and
shares issuable upon exercise will be subject to a 4-month hold period. The
Letter of Intent provides that the concessions may be purchased separately for a
specified portion of the purchase price.


The proposed acquisition is subject to approval by RAM shareholders, if
required, and both the proposed acquisition and related private placement of
Debentures are subject to all necessary regulatory approvals, including the
approval of the TSX Venture Exchange.


About Macusani Yellowcake Inc.

Macusani controls over 20,000 hectares (2,000 km2) of mineral properties
prospective for uranium in the Macusani area in Peru.


There are 32,421,284 common shares of Macusani Yellowcake Inc. outstanding
(42,002,712 common shares, fully diluted).


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