LONDON, UNITED KINGDOM–( EMWNews – April 3, 2008) – YELLOWCAKE PLC (the “Company”) –

The Company announces that pursuant to the Grease River Option Agreement entered into with CanAlaska Uranium Ltd and Uranium Prospects plc on 1 August 2007, it has issued 505,714 new ordinary shares in the Company to CanAlaska Uranium Ltd. CanAlaska now holds a total of 1,005,714 ordinary shares in the Company, representing 1.71% of the enlarged equity.

Following the announcement, the total number of shares in issue in the Company is 58,755,714.

The Directors of the Company hold 11,000,000 ordinary shares in the Company between them, representing 18.725% of the enlarged equity.

The Directors of the issuer accept responsibility for this announcement.

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