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Yellow Cat Uranium Plc (YCUP)

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Tuesday 23 June, 2009

Yellow Cat Uranium Plc

Final Results


                            Yellow Cat Uranium plc                             

                  Results for the year ended 31 December 2008                  

Managing Director's statement

Dear Shareholders

The Directors are pleased to present the annual report and audited accounts for
Yellow Cat Uranium plc covering the year to 31st December 2008. The results
show a loss of £431,857 for the year to 31 December 2008.

Since the exploration of the properties in Utah and Colorado in 2007 had
produced inconclusive results and in view of the fall in uranium prices and the
difficulty of raising finance for exploration at present, Directors decided to
look for other methods of continuing to develop the properties in Utah and
Colorado. Accordingly, in July 2008, the Company entered into a heads of
agreement with Global Uranium Limited under which Global Uranium has agreed to
spend up to USD 750,000 over the next 3 years on the properties in Utah and
Colorado in order to earn up to a 50% interest in these properties, with the
option to increase this interest to 75% by spending a further USD 1,250,000
over the subsequent 2 years.

As announced in the interim report to June 2008, the Company is in talks to
acquire coal properties in the USA. An independent engineering firm was
commissioned to report on the properties. As this report was favourable,
further discussions are now underway to complete the acquisition and a further
announcement will be made in due course.

George Heard
Managing Director
18th June 2009

Group profit and loss account
for the year ended 31 December 2008

                                                  Year ended 31   Year ended 31
                                                  December 2008   December 2007
                                                                               
                                                              £               £
                                                                               
Turnover                                                      -               -
                                                                               
Cost of sales                                                 -               -
                                                                               
Gross profit                                                  -               -
                                                                               
Administrative expenses                               (229,947)       (259,924)
                                                                               
Impairment charge                                     (213,007)               -
                                                                               
Currency gain/(loss)                                      8,948         (6,145)
                                                                               
Operating loss                                        (434,006)       (266,069)
                                                                               
Interest receivable                                       2,149           7,694
                                                                               
Interest payable                                              -           (211)
                                                                               
Loss on ordinary activities before                    (431,857)       (258,586)
taxation                                                                       
                                                                               
Taxation                                                      -               -
                                                                               
Loss on ordinary activities after                     (431,857)       (258,586)
taxation                                                                       
                                                                               
Dividends                                                     -               -
                                                                               
Retained loss for the period                          (431,857)       (258,586)
attributable to Shareholders of the                                            
Company                                                                        
                                                                               
Loss per share - basic                             (0.09) pence    (0.06) pence

All the operations are considered to be continuing.

The Directors do not recommend the payment of a dividend.


Group Statement of Total Recognised Gains and Losses
for the year ended 31 December 2008

                                                 Year ended 31   Year ended 31
                                                 December 2008   December 2007
                                                                              
                                                             £               £
                                                                              
Loss for the year                                    (431,857)       (258,586)
                                                                              
Unrealised gain/(loss) on foreign exchange              23,413         (1,010)
                                                                              
Total recognised gains and losses related to         (408,444)       (259,596)
the year                                                                      
                                                                              

Group balance sheet

As at 31 December 2008

                                    31 December 2008        31 December 2007   
                                                                               
                                            £                      £           
                                                                               
Fixed assets                                      44,200                257,207
                                                                               
Intangible assets                                                              
                                                                               
                                                  44,200                257,207
                                                                               
Current assets                       22,305                  76,986            
                                                                               
Debtors                              40,913                 181,225            
                                                                               
Cash at bank                                                                   
                                                                               
                                     63,218                 258,211            
                                                                               
Creditors - amounts due            (31,482)                (31,038)            
within one year                                                                
                                                                               
Net current assets                                31,736                227,173
                                                                               
Net assets                                        75,936                484,380
                                                                               
Share capital and                    93,000                  93,000            
reserves                                                                       
                                    700,602                 700,602            
Called-up share capital                                                        
                                    (4,000)                 (4,000)            
Share premium account                                                          
                                     22,403                 (1,010)            
Treasury shares reserve                                                        
                                                                               
Foreign exchange reserve                                                       
                                                                               
Profit and loss account           (736,069)               (304,212)            
                                                                               
Total shareholders' funds                         75,936                484,380
                                                                               

The auditors of the company, Chapman Davis LLP, have in their report made the
following statement:

"Emphasis of matter - Going concern

In forming our opinion on the financial statements, which is not qualified, we
have considered the adequacy of the disclosures made in the statement of
accounting policies to the financial statements concerning the Company's
ability to continue as a going concern. The group incurred a net cash decrease
of £163,725 during the year ended 31 December 2008. These conditions, along
with the other matters explained in the statement of accounting policies to the
financial statements, indicate the existence of a material uncertainty, which
may cast significant doubt about the Company's ability to continue as a going
concern. The financial statements do not include the adjustments that would
result if the Company was unable to continue as a going concern."

The consolidated results for the period have been extracted from the audited
financial statements of the group for the period and do not constitute full
statutory accounts for the group.

The financial statements were approved by the Board of Directors on 18th June
2009.


                                                                                                                                                                                                                                  

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