West Vancouver, British Columbia – June 12, 2008 – Columbia Yukon Explorations Inc. (the “Company”) has filed with the TSX Venture Exchange (the “Exchange”) a notice of its intention to make a normal course issuer bid (the “Bid”) for its common shares through the facilities of the Exchange. The shares will be purchased for cancellation.
Pursuant to the policies of the Exchange, the Company is permitted to re-purchase through open market purchases, up to 2% of its outstanding common shares in a given 30 day period, up to a maximum in a 12 month period commencing June 17, 2008, and ending on June 16, 2009, of 2,041,868 common shares, being 5% of the issued and outstanding common shares of the Company. The price that the Company will pay for any such common shares will be the market price at the time of acquisition and any common shares purchased pursuant to the Bid will be cancelled. The actual number of common shares that may be purchased and the timing of any such purchases will be determined by the Company based upon market and investment considerations. As of the date hereof, there are 40,837,368 common shares of the Company issued and outstanding.
The Company considers the Bid to be in the best interest of the Company and its shareholders. Any re-purchase by the Company of its shares would be for its own corporate purposes and reasons, and the Company believes that there may be times over the course of the year when its common shares may trade in a price range that does not adequately reflect their value in relation to the Company’s business and its future business prospects. As a result, depending on future price movements and other factors, the Company believes that the re-purchase of its shares may be a desirable use of a portion of its available funds. The re-purchase by the Company of any of its shares should not be deemed or construed as a recommendation to purchase any of its shares or an indication of the present or future value of the Company’s shares.
The name of the member conducting the Bid on behalf of the Company is PI Financial Corp., of 1900 - 666 Burrard Street, Vancouver, British Columbia, V6C 3N1.
A copy of the notice may be obtained by any shareholder of the Company, without charge, by contacting head office.
For further information, contact Mr. Clive Shallow, investor communication, at 604-922-2030 or visit the Company’s website at www.columbiayukon.com.
Columbia Yukon Explorations Inc.
“Douglas L. Mason”
Douglas L. Mason, Chairman
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release.