BECK - URAVAN

Yellowcake Mining Inc. announced that, effective May 15, 2009, it terminated its lease and option agreements relating to the Uravan-Beck properties, dated December 28, 2007. The property is host to a number of past-producing uranium-vanadium mines located in western Colorado, USA.

An extensive data base for the Return Mine has been acquired. This data includes over 200 drill holes, mine designs for an expanded mine, and economic models for the proposed mine. Drill permits are in the process of being acquired and the intent is to drill this summer and fall. This drilling will examine possible mineralization at selected other known areas of unmined potential mineralization.

The necessary permits to allow drilling were received. The permits are for ten sites of known uranium-vanadium mineralization which will be tested by air-rotary drilling and gamma logging.