Macusani Yellowcake Changes Name to Plateau Uranium and Announces Share Consolidation

Re-branded Company Appoints New Chairman and Welcomes New Director

TORONTO, ONTARIO -- (Marketwired - Apr 30, 2015) - Macusani Yellowcake Inc. ("Macusani" or the "Company") (TSX VENTURE:YEL) (FRANKFURT:QG1) is pleased to announce that the Company has changed its name to Plateau Uranium Inc.. The Company also announces that all outstanding common shares have been consolidated on the basis of one new post-conolidated share for every 8 pre-consolidated shares. The Company also announces the appointment of Ian Stalker as Chairman of the board of directors and welcomes new director appointment, Engin Özberk, to the Company's board.


Name Change and Consolidation

The Company has changed its name to Plateau Uranium Inc. (the "Name Change") and consolidated its issued and outstanding common shares on the basis of one (1) new common share for every eight (8) existing common shares (the "Consolidation"). The Name Change and Consolidation were both overwhelmingly approved by shareholders at the Company's Annual General Meeting ("AGM") held on March 5, 2015. The Company's shares will commence trading on a consolidated basis under the new name, symbol "PLU" and new CUSIP (727638108) and ISIN (CA 7276381083) numbers on the TSX Venture Exchange at opening of trading on Friday, May 1, 2015. As a result of the Consolidation there are now approximately 32,861,359 common shares outstanding (subject to adjustment for fractional shares).

All outstanding warrants and options of the Company will be automatically adjusted, with the number of shares eligible to be acquired on exercise being reduced by dividing that number by 8 and increasing the exercise price of such warrants and options by multiplying the prior exercise price by 8.

The Company's board and management believe the share consolidation to be necessary and in the best interest of shareholders, as it will improve the re-branded Company's ability to attract new institutional and retail investors in order to raise the additional capital necessary to advance the Company's Peru projects.


Board Changes

Ian Stalker has been appointed Chairman of the Company's board of directors, replacing Alan Ferry, who will continue to serve as a director. Ian has been a director of the Company since September 2014, following the the acquisition of the Azincourt Uranium projects. The Company wishes to thank Alan for his capable guidance and oversight of the board as Chairman and as a long standing director during a period of signficant acquisitions and organic growth for the Company in the midst of a tremendously challenging uranium market.

The Company also wishes to officially welcome Engin Özberk to the board of directors. Engin was elected as a director at the company's AGM held on March 5, 2015. Engin has a Masters in Metellurgical Engineering from McGill Univeristy with vast technical expertise in mineral processing. He is currently the Executive Director & Senior Technical Advisor and Mitacs Industry Executive in Residence - Minerals, with the International Minerals Innovation Institute. Prior to his current role, Engin spent 17 years with Cameco Corp., most recently as Vice President, Technology and Innovation. Prior to Cameco, Engin worked in mineral processing design, operation and commisioning for 18 years with predecessors of Sherrit International and SNC-Lavalin.


About Plateau Uranium

Plateau Uranium Inc. is a Canadian uranium exploration and development company focused on the exploration of its properties on the Macusani Plateau in southeastern Peru. The Company controls all reported uranium resources known in Peru and mineral concessions that cover over 100,000 hectares (1000 km2) situated near significant infrastructure. Plateau Uranium is listed on the TSX Venture Exchange under the symbol 'PLU' and the Frankfurt Exchange under the symbol 'QG1'. The Company has approximately 32,861,359 shares outstanding. For more information please visit our website at www.macyel.com or eventually www.plateauuranium.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.



Contact
Plateau Uranium Inc.
Ted O'Connor, CEO
+1-416-628-9600
ted@plateauuranium.com
Website: www.plateauuranium.com
Facebook: http://www.facebook.com/plateauuranium
Twitter: http://www.twitter.com/plateauuranium