("Yellowcake" or "The Company")
RESULT OF EGM
14 August 2007
At the Extraordinary General Meeting held on 2 August the Resolution to transfer part of Yellowcake's interest in the Grease River Option to Uranium Prospects plc was duly carried.
Subsequently, the Grease River Option Agreement between Yellowcake, CanAlaska Uranium Ltd and Uranium Prospects plc has now been signed by all parties and Yellowcake has received payment of all sums due to it upon the transfer.
The Directors also report that, consequent on the flotation of Uranium Prospects plc on PLUS on 27 July 2007, the Company now holds 10,000,000 shares in that company, representing 16.51 % of its issued share capital.
ABOUT YELLOWCAKE PLC
Yellowcake plc (PLUS:YEL) is the world's first portfolio company specialising wholly in investing in uranium explorers, developers and producers. Founded in February 2005, it floated on London's PLUS Markets in July 2005. Yellowcake commenced investing in quoted and unquoted uranium companies in late September 2005 and currently its portfolio includes 32 companies, with operations in Africa, Australia, Canada, Kazakhstan, Mongolia, Paraguay and the United States. Since it began investing, its portfolio value has risen over fourfold with a gain of 312% at 12 April 2007. Alongside the Company's primary focus, and capitalising on the Company's widespread contacts throughout the world's uranium mining industry, the directors also intend to carry out the identification, acquisition and potential disposal of direct uranium projects.
The Directors of the Issuer accept responsibility for this announcement.
www.yellowcakeplc.com
Enquiries:
Yellowcake Plc
Robert Wallace, Chief Executive
Email: robert@yellowcakeplc.co.uk
Tel: 020 7638 8750
St Helen's Capital Plc
Barry Hocken, Director
Email: barry.hocken@sthelenscapital.com
Tel: 020 7628 5582