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Fourth Drill Begins Drilling Storie Deposit

July 22, 2008

West Vancouver, British Columbia – Columbia Yukon Explorations Inc. (the “Company”) is pleased to announce that it continues to advance its “Storie” molybdenum property deposit located in northern British Columbia. Specifically, the Company reports that a fourth drill rig has arrived at the Storie property.

The Company is presently drilling outside the initial resource area where the resource is open with the intent of significantly increasing the size of the resource. A total of 7,000 metres, out of a planned 30,000 metres, has been completed thus far this season. Assays are pending.

As well, the Company is also pleased to report that it has received a draft of an upgraded NI 43-101 resource report for its Storie deposit. The findings of the report will be released shortly after management has completed a full review. Currently the Storie deposit has an NI 43-101 inferred resource of 101.6 million metric tonnes grading 0.067% Mo (see news release dated July 5, 2007). The new report was commissioned for the purpose of reclassifying the inferred resource to an indicated resource.

This news release has been reviewed and approved by John Kowalchuk, P. Geo., who is acting as Qualified Person for the Storie property project in accordance with regulations under NI 43-101.

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.

For further information, contact Mr. Clive Shallow, investor communications at 604-922-2030 or visit the Company’s website at


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.