Macusani Yellowcake Announces Reinstatement Of Consulting Arrangement With IQuanox Inc.

* Reuters is not responsible for the content in this press release.

Thu Jul 31, 2008 4:47pm EDT 

  TORONTO, ONTARIO, Jul 31 (MARKET WIRE) -- 
Macusani Yellowcake Inc. (TSX VENTURE: YEL) ("Macusani") is pleased to
announce that its consulting arrangements with Toronto-based IQuanox Inc.
("IQuanox") have been reinstated. In conjunction with the listing of
Macusani on the TSX Venture Exchange (the "Exchange") in November 2007,
the Exchange requested that the consulting arrangements with IQuanox be
suspended pending a review by the Exchange. The Exchange review has now
been completed and the consulting arrangements reinstated. Under the
consulting arrangements, administrative and management support services
are provided by IQuanox to Macusani at a cost of $8,000 per month payable
in cash, or at Macusani's option and subject to regulatory approval, in
common shares of Macusani. The services are provided through IQuanox
exclusively by Mr. Robert W. Harris.

    In 2004, Mr. Harris entered into a settlement agreement with the Ontario
Securities Commission to settle a proceeding brought by the Ontario
Securities Commission alleging, among other things, insider trading and
the failure to file insider reports by Mr. Harris. Under the terms of the
settlement agreement, Mr. Harris was reprimanded, required to pay a
settlement payment and the costs of the hearing and investigation, and
prohibited from trading in securities for a period of 24 months, and
prohibited from serving as a director or officer of an issuer for a
period of 24 months. All payments were made by Mr. Harris and all
restrictions agreed to in the settlement agreement have now expired.

    About Macusani Yellowcake Inc.

    Macusani controls over 20,000 hectares (2,000 km2) of mineral properties
on the Macusani plateau in Peru.

    There are 24,296,285 common shares of Macusani outstanding, 32,876,260
common shares, fully diluted.


 
 The TSX Venture Exchange does not
accept responsibility for the adequacy or accuracy of this release.

Contacts:
Macusani Yellowcake Inc.
Peter Hooper
President
(416) 360-3402
Email: peterhooper2@aol.com
Website: www.macusaniyellowcake.com

Copyright 2008, Market Wire, All rights reserved.

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