TORONTO, ONTARIO -- (Marketwire) -- 01/18/13 -- Macusani Yellowcake Inc. (TSX VENTURE:YEL)(FRANKFURT:QG1) ("Macusani" or the "Company") announced today that it plans to ask shareholders to also consider the ratification of the Company's shareholder rights plan ("Plan") as other business at the Company's upcoming annual and special meeting of shareholders to be held in Toronto on January 18, 2013. The Plan was originally ratified by shareholders on March 3, 2010 and requires re-ratification every three years to remain effective. A copy of the Plan was filed on SEDAR on February 2, 2010 and is available for viewing and download under the Company's profile at www.sedar.com. A summary of the Plan is also available in the Company's management information circular dated February 1, 2010 and filed on SEDAR on February 8, 2010. The Plan has not been amended since it was originally adopted and is intended to address the Company's concerns that current legislation does not provide sufficient time for the Board and shareholders of the Company to properly evaluate an unsolicited takeover bid or pursue alternatives with a view to maximizing shareholder value. The Plan seeks to ensure that all shareholders of the Company have an equal opportunity to participate in the benefits of a takeover bid.

How To Vote Against Ratification of the Plan by Proxy

The form of management proxy previously distributed to shareholders provides management with discretionary authority to vote on other matters properly coming before the meeting and it is intended that all such proxies will be voted in favour of ratification of the Plan. Accordingly, registered and non-registered shareholders who have previously provided a proxy or Voting Information Form (VIF) in hard copy or online in favour of management and wish to vote in favour of the ratification of the Plan need not take any further action.

Online voting for both registered and non-registered shareholders has been amended to add voting on ratification of the Plan. Shareholders who wish to vote against the Plan may do so online if they have not yet voted and also if they wish to change their previously submitted voting instructions. Shareholders should log on to the appropriate website(www.voteproxyonline.com for registered holders and www.proxyvote.com for non-registered holders) using the same control number noted on the original proxy or VIF. Registered shareholders may also obtain a hard copy of the revised form of proxy permitting registered shareholders to vote against ratification of the Plan by printing or downloading a copy from the Company's profile on SEDAR (www.sedar.com) or may request a copy from the Company by phone ((416) 628-9600) or e-mail (lance@macyel.com). Completed proxies should be sent to the Company's transfer agent, Equity Financial Trust Company, by fax at (416) 595-9593 or mail to 200 University Avenue, Suite 400, Toronto, Ontario M5H 4H1, so as to be received no later than the proxy cut-off of 4:00 p.m. (Toronto time) on Thursday, January 24, 2013. A later filed proxy or VIF will automatically revoke any previously filed proxy or VIF.

About Macusani Yellowcake Inc.

Macusani Yellowcake Inc. is a Canadian uranium exploration and development company focussed on the exploration of its properties on the Macusani Plateau in southeastern Peru. The Company owns a 99.5% interest in concessions, which cover over 90,000 hectares (900 km(2)) 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.

Neither 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.