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Macusani Yellowcake Inc. (TSX VENTURE:YEL)(FRANKFURT:QG1) ("Macusani") and
Azincourt Uranium Inc. (TSX VENTURE:AAZ)(FRANKFURT:A0U) ("Azincourt") announce
that they have entered into a definitive acquisition agreement ("Definitive
Agreement") in respect of the previously announced acquisition by Macusani of
all of Azincourt's adjacent uranium properties located on the Macusani Plateau
in south-eastern Peru (the "Acquisition Transaction"). 


Under the Definitive Agreement, Macusani has agreed to acquire 100% of
Azincourt's subsidiary Minergia SAC in consideration for the issuance to
Azincourt of 68,350,000 common shares of Macusani (the "Acquisition Shares"),
representing approximately 29% of the outstanding shares of Macusani
post-transaction (but prior to the financing transaction discussed below).
Azincourt has agreed to distribute the Acquisition Shares to its shareholders on
a pro rata basis (the "Distribution") within five months of the closing of the
Acquisition Transaction following the receipt of all necessary regulatory and
shareholder approvals. The Acquisition Shares will be restricted to exercising
no more than 19.9% of the voting rights attached to all common shares of
Macusani until the Distribution is completed. 


The Definitive Agreement provides that Ted O'Connor, current President and CEO
of Azincourt, would be appointed as Chief Executive Officer of Macusani
following completion of the Acquisition Transaction, and Laurence Stefan,
current President and CEO of Macusani, would serve as President and Chief
Operating Officer. Mr. O'Connor and Ian Stalker, Chairman of Azincourt, would
also join a six member board of directors of Macusani. 


The Acquisition Transaction is subject to a number of conditions including, the
completion by Macusani of equity financing of not less than C$2.0 million and
the receipt of all necessary regulatory approvals. The Acquisition Transaction
is expected to be completed on or before July 31, 2014.


Further to its press release on June 23, 2014, Macusani announces an increase to
its non-brokered private placement of equity units ("Units") to raise gross
proceeds of up to C$2,000,000 (the "Financing"). The Units will be offered at a
price of C$0.07 per Unit and each Unit will consist of one common share of
Macusani and one common share purchase warrant (a "Warrant"). Each Warrant will
entitle the holder to acquire one additional common share of Macusani at a price
of C$0.10 for a period of 24 months following the closing of the Financing. Net
proceeds from the Financing are anticipated to be used for property payments,
working capital and general corporate purposes. 


Macusani will pay a 7.0% cash finder's fee to registered securities dealers who
procure subscriptions for Units which are accepted. 


The Financing is expected to be completed in one or more closings on or before
July 31, 2014 and is subject to certain conditions including, but not limited
to, the receipt of all necessary approvals, including the approval of the TSX
Venture Exchange. Completion of the Financing will not be conditional upon the
prior completion of the Acquisition Transaction.


The securities referred to in this press release have not been and will not be
registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws, and may not be offered or sold in
the United States absent registration or an applicable exemption from such
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy the securities in the United States
or in any jurisdiction in which such offer, sale or solicitation would be
unlawful.


About Macusani Yellowcake Inc.

Macusani Yellowcake 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 owns a 99.5% interest in concessions that cover
over 86,330 hectares (863.3 km2) and are situated near significant
infrastructure. Macusani is listed on the TSX Venture Exchange under the symbol
'YEL' and the Frankfurt Exchange under the symbol 'QG1'. The company has
167,660,754 shares outstanding. For more information please visit
www.macyel.com.


About Azincourt Uranium Inc. 

Azincourt Uranium Inc. is a Canadian based resource company specializing in the
strategic acquisition, exploration and development of uranium properties and is
headquartered in Vancouver, British Columbia. Azincourt has advanced exploration
projects and uranium resources in southeastern Peru and the PLN exploration
project joint venture with Fission 3.0 in northern Saskatchewan.


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.


CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release
includes certain "forward-looking statements" under applicable Canadian
securities legislation. Forward-looking statements include, but are not limited
to, statements with respect to: the terms and conditions of the proposed
Acquisition Transaction; the terms and conditions of the proposed private
placement; use of funds; and the business and operations of Macusani after the
proposed transaction. Forward-looking statements are necessarily based upon a
number of estimates and assumptions that, while considered reasonable, are
subject to known and unknown risks, uncertainties, and other factors which may
cause the actual results and future events to differ materially from those
expressed or implied by such forward-looking statements. Such factors include,
but are not limited to: general business, economic, competitive, political and
social uncertainties; delay or failure to receive board, and shareholder or
regulatory approvals. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. There is no assurance that either the
proposed Acquisition Transaction or private placement of Units will be completed
as stated above, or at all. Accordingly, readers should not place undue reliance
on forward-looking statements. Macusani and Azincourt disclaim any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
law. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Macusani Yellowcake Inc.
Laurence Stefan
President & CEO
416-628-9600
laurence@macyel.com
www.macyel.com


Facebook: www.macyel.com/facebook/
Twitter: www.twitter.com/macusani/


Azincourt Uranium Inc.
Ted O'Connor
President & CEO
604-662-4955
ted@azincourturanium.com


Azincourt Uranium Inc.
Mario Vetro
Corporate Development and Investor Relations
604-662-4955
mario@azincourturanium.com
www.azincourturanium.com

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