West Vancouver, British Columbia – June 2, 2008 – Columbia Yukon Explorations Inc. (the “Company” or “Columbia Yukon”) is pleased to announce that the first of four drill rigs has commenced core drilling on the Company’s “Storie” Molybdenum Property, located 5km south of Cassiar in northern British Columbia. The second and third drill rigs are expected to be drilling on the Property by mid June 2008, with the fourth drill rig beginning in the first week of July 2008.
The Company’s 2008 drill program on the Storie Property (that is expected to include up to 100 core drill holes) has been designed in an effort to significantly expand the higher grade molybdenum zone discovered last year which zone is currently open to the west and south.
In an effort to enhance assay turnaround time for 2008, the Company has commissioned Loring Labs of Calgary, Alberta (“Loring”) to locate and independently operate an on site “prep lab” facility at the Cassiar camp. This facility is expected to save considerable turnaround time on the final receipt of assay analysis. The Company believes this will help resolve the persistent laboratory assay turnaround issues which have plagued the local mineral exploration industry for the past several years.
The Storie Property has a NI 43-101 compliant inferred resource of 101.6 million tonnes of 0.067% Mo (or 0.112% MoS2). An updated NI 43-101 report, which will incorporate the results from the Company’s 76 drill core holes completed in 2007, is expected in June 2008. The Company anticipates that the updated report will also reclassify the resource from inferred to indicated.
About Columbia Yukon Explorations Inc.:
Columbia Yukon is a Canadian mineral exploration company focused on the development of its Storie Molybdenum Property deposit located in northern British Columbia, 5km south of the Hwy from the former Cassiar Mine townsite.
In 2006, Columbia Yukon completed twinning 20 core drill holes (5,000 metres of core drilling) and verified the reported historical resource into a NI 43-101 inferred resource of 101.6 Mt grading 0.067% Mo.
In 2007, Columbia Yukon completed 76 drill holes (23,000 metres of core drilling) on the Storie Property).
The specific locations of the drill holes reported in earlier news releases can be viewed in the “Investors” – “Corporate Presentation” section of the Company’s website at www.columbiayukon.com.
This news release has been reviewed and approved by John Kowalchuk, P. Geo., who is acting as Qualified Person for the Company’s Storie Property Project in accordance with regulations under NI 43-101.
For further information, contact Mr. Clive Shallow, investor communications at 604-922-2030 or visit the Company’s website at www.columbiayukon.com.
Columbia Yukon Explorations Inc.
“Ronald A. Coombes”
Ronald A. Coombes, President & CEO
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release.