Mr. Ted O'Connor reports

MACUSANI YELLOWCAKE PROPOSES TO ISSUE SHARES TO SETTLE DEBT

Subject to regulatory and disinterested shareholder approval, Macusani Yellowcake Inc. is proposing to issue 3,152,750 common shares to Colibri Mining North SAC, a company controlled by Dr. Laurence Stefan, its president and chief operating officer, to settle amounts that will be due and owing to it.

In conjunction with Macusani's acquisition of additional uranium properties from Azincourt Uranium Inc. in September, 2014, Colibri agreed to a change in Dr. Stefan's role and responsibilities and to defer a portion of monthly consulting fees totalling $25,000 (U.S.) until six months from the completion of the acquisition. In consideration for these concessions, the company agreed to pay Colibri $150,000 (U.S.) as a retention bonus, of which $50,000 (U.S.) has been accrued and is payable in cash, and the balance of $100,000 (U.S.) was deferred and payable six months from closing. Subject to regulatory and shareholder approvals, the balance of the retention bonus and deferred consulting fees (totalling $125,000 (U.S.)) can be settled in shares at the company's option. Accordingly, the company is proposing to issue to Colibri 3,152,750 common shares to settle these amounts at a deemed price of five cents per share. Under the policies of the TSX Venture Exchange, the debt settlement requires disinterested shareholder approval, which is proposed to be sought at the company's annual and special meeting scheduled for March 5, 2015, in Toronto.