Plateau Uranium Announces Increase to Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwired - June 3, 2015) -

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Plateau Uranium Inc. (formerly Macusani Yellowcake Inc.) ("Plateau Uranium" or the "Company") (TSX VENTURE:PLU)(FRANKFURT:QG1) is pleased to announce that due to strong investor demand, the Company has increased the size of the recently announced non-brokered private placement (the "Financing") previously announced on May 29, 2015. The Financing, which originally planned to raise gross proceeds of up to C$3 million, will now consist of up to 7,555,556 units ("Units") at a price of C$0.45 per Unit, to raise gross proceeds of up to C$3.4 million. All other terms of the Financing remain unchanged.

Ted O'Connor, Plateau Uranium CEO, commented; "We are encouraged by the strong investor response to the private placement. We look forward to moving ahead with our planned program to advance the Macusani Plateau uranium project in Peru, and are excited to have the support of both new and existing shareholders as we enter into the next phase of development."

The Financing is still expected to be completed on or about June 22, 2015 and remains subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

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 Plateau Uranium

Plateau Uranium Inc. is a Canadian uranium exploration and development company focused on 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 (1,000 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 following a recent share consolidation. For more information please visit 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.