YEL

Macusani Yellowcake Inc. (the "Company") (TSX VENTURE:YEL)(FRANKFURT:QG1) is
pleased to announce multiple new high-grade intersections from the ongoing
drilling program at the Quebrada Blanca anomaly on its Kihitian Property located
in south-eastern Peru. 


Highlights:



--  The best high-grade uranium assay was reported on platform 36 from
    borehole #QB36-TSW, drilled to a depth of 139.50m, over 22.0 m from 12.0
    to 34.0 m with a weighted average of 1530 ppm U3O8 (or 3.06 lbs/ton over
    72.2 ft). 
    
--  The Quebrada Blanca anomaly is located approximately 2 km northwest of
    the Chilcuno Chico anomaly on the Kihitian property, on the northwest
    border of the concession. 
    
--  A very important area, called Isivilla Martinez occurs to north-
    northeast from Quebrada Blanca, anomaly that will be drilled in the near
    future. 
    
--  The host of the mineralization is the same young age Macusani rhyolite
    rock that displays disseminated and fissure-controlled uranium minerals.



These new results were reported from boreholes drilled on platforms 33, 34, 35
and 36. To date eight platforms have been drilled at Quebrada Blanca and all of
them have intersected the mineralized manto "B" target.


The best high-grade uranium assay was reported on platform 36 from borehole
#QB36-TSW, drilled to a depth of 139.50m, over 22.0 m from 12.0 to 34.0 m with a
weighted average of 1530 ppm U3O8 (or 3.06 lbs/ton over 72.2 ft). This included
a higher-grade zone of 5.0 m that averaged 0.593% U3O8 (or 11.86 lbs/ton over
16.4 ft). The Quebrada Blanca anomaly is located approximately 2 km northwest of
the Chilcuno Chico anomaly on the Kihitian property, on the northwest border of
the concession. 


Other assay results from Quebrada Blanca are shown in the following table:



----------------------------------------------------------------------------
PT-QB36-TSW - 139.50m                                                       
depth                    From    To Intersection (m) Grade (ppm) Grade (lbs)
----------------------------------------------------------------------------
                        12.00 34.00            22.00       1,530       3.060
including               29.00 34.00             5.00       5,930      11.860
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
PT-QB33-TNW - 115.50m                                                       
depth                    From    To Intersection (m) Grade (ppm) Grade (lbs)
----------------------------------------------------------------------------
                        49.00 64.00            15.00         810       1.620
including               50.00 53.00             3.00       3,104       6.208
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
PT-QB36-TSE - 138.00m                                                       
depth                    From    To Intersection (m) Grade (ppm) Grade (lbs)
----------------------------------------------------------------------------
                        17.00 32.00            15.00         580       1.160
including               20.00 25.00             5.00       1,525       3.050
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
PT-QB35-TSE - 78.00m                                                        
depth                    From    To Intersection (m) Grade (ppm) Grade (lbs)
----------------------------------------------------------------------------
                        11.00 33.00            22.00         889       1.778
including               21.00 26.00             5.00       3,624       7.248
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
PT-QB34-TSW - 112.50m                                                       
depth                    From    To Intersection (m) Grade (ppm) Grade (lbs)
----------------------------------------------------------------------------
                        20.00 34.00            14.00         507       1.014
including               30.00 32.00             2.00       2,802       5.604
----------------------------------------------------------------------------



President and CEO, Dr. Laurence Stefan, stated: "These new uranium assays
obtained from shallow drilling in the Quebrada Blanca anomaly are very
encouraging and leads us to believe that the future reported geological
resources in these zones could be of higher grade than everything else reported
to date at Macusani, enhancing the probability of a positive economic study on
the plateau."


Several intersections of high-grade uranium from Quebrada Blanca were previously
reported in the Company's press releases dated May 17th 2012 and August 21st
2012, including 5.0 m that averaged 2.671% U3O8 (or 53.43 lbs/ton). The drilling
continues on the ninth platform in the Quebrada Blanca area. One more platform
will be drilled in the near future in order to complete phase one drilling
within the Quebrada Blanca anomaly. 


Phase two drilling at Quebrada Blance will continue on the other sides of the
ravines that surround the anomaly towards northeast and southeast in order to
test at depth visual uranium mineralization that outcrops on surface. 


A very important new area, called Isivilla Martinez, occurs to north-northeast
of the Quebrada Blanca, anomaly and will also be drilled in the near future. The
surface exploration and radiometric surveys indicate that in Isivilla Martinez
both mantos "A" and "B" may occur. In the Quebrada Blanca area manto "A" was
eroded, exposing the high-grade manto "B" on surface and enhancing the technical
possibility to mine the future uranium ores in an open pit scenario.


All of these new drilling results and exploration data are being sent to The
Mineral Corporation in Johannesburg, South Africa for inclusion in an updated
resource estimate for the Kihitian property and extension of the geological
model at Chilcuno Chico. The updated resource estimate is expected to be
available during the fourth quarter of 2012. 


Under the existing geological model, the drilling program at Chilcuno Chico has
intersected two mineralized horizons: manto "A", and roughly 100m below, manto
"B", which is thicker and of higher uranium grade. Between the two mantos there
are at least two zones of intensely disseminated rhyolites of lower uranium
grade. At Quebrada Blanca, which is located stratigraphically lower than
Chilcuno Chico, manto "A" is usually eroded in the western extremity where
drilling is currently in progress. However, manto "B" is located closer to
surface, between 10-50m deep according to the present drilling evidence, or
manto "B" is exposed in outcrops in deeper ravines. 


The host of the mineralization is the same young age Macusani rhyolite rock that
displays disseminated and fissure-controlled uranium minerals. The main mineral
species are meta-autunite and autunite that have demonstrated to provide high
metallurgical recoveries, between 91 to 97% (see the Company's press release
dated August 9, 2012). 


At present, the Company is operating five diamond drill rigs on the Macusani
plateau: three drills on the Kihitian project (one drill at Quebrada Blanca and
two drills at Chilcuno Chico) and two drills that have recently started working
at new Tupuramani anomaly in order to test the western extension of Colibri
II-III. 


Previous assay data, maps and a sample cross section are available on the
Company's website at www.macyel.com/kihitian/. 


Quality Control and Analytical Procedures 

Core samples have been crushed and representative samples analysed for Uranium
(U) abundance and a suite of 40 elements. The necessary analytical quality
control and assurance has been completed by insertion of reference material,
duplicate samples and blank material. After crushing, the core is placed in
sealed bags and shipped to the CIMM's preparation laboratories in Juliaca, Peru.
Following the preparation stage, the sample pulps are sent to CIMM analytical
laboratory in Lima where U and a suite of forty other elements are analysed
using ICP-MS methodology. 


CIMM Peru is an ISO certified assay laboratory. The program is designed to
include a comprehensive assay quality control routine comprising the systematic
use of standards, blanks and field duplicate samples. Secondary laboratories are
used for check assaying. 


Qualified Person 

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


About Macusani Yellowcake 

Macusani Yellowcake Inc. is a Canadian uranium exploration and development
company focussed on the exploration of its properties on the Macusani Plateau in
south-eastern Peru. The Company owns a 99.5% interest in concessions which cover
over 90,000 hectares (900 km2) and are situated near significant infrastructure.
Macusani Yellowcake 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.


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.

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