West Vancouver, British Columbia – April 16, 2009 – Columbia Yukon Explorations Inc. (the “Company” or “Columbia Yukon”) is pleased to announce that it has now received the finalized version of the Company’s 2009 updated NI 43-101 Mineral Resource Estimate Report dated April 15, 2009 for the Company’s “Storie” Property molybdenum deposit (the “2009 Updated NI 43-101 Report”). The 2009 Updated NI 43-101 Report has been prepared for the Company by Watts, Griffis & McOuat Limited (“WGM”), Consulting Geologists and Engineers of Toronto, Ontario and Mintec, Inc. of Tucson, Arizona (“Mintec”).
A summary of the 2009 Updated NI 43-101 Report was provided by the Company in its news release dated March 4, 2009, and as reported at that time, the current estimated total of both Measured and Indicated Resource categories is 139.82 million tonnes grading 0.064% Mo at a cutoff of 0.030% (which represents an increase of 42 million tonnes in these categories) and an Inferred Resource of 58.39 million tonnes grading 0.059% Mo at a cutoff of 0.030% (which represents an increase of 27 million tonnes in this category). Further infill drilling is required in order to potentially reclassify the Inferred Resource into a NI 43-101 Measured or Indicated Resource category.
Ronald A. Coombes, President and CEO of Columbia Yukon stated; “the Company’s positive exploration efforts during the past three years have resulted in the Storie Property molybdenum project becoming one of the largest primary molybdenum deposits in Canada. Further, the Company is also pleased to point out that the deposit remains open in three directions.”
The 2009 Updated NI 43-101 Report will be filed on www.sedar.com and on the Company’s website on www.columbiayukon.com.
About Columbia Yukon Explorations Inc.:
Columbia Yukon is a Canadian mineral exploration company focused on the development of its Storie Property molybdenum deposit. The Storie Property is situated about 6 km southwest of Cassiar, British Columbia. Cassiar is located 15 km (by road) west of Highway 37 which provides access to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south.
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. This news release includes certain statements that may be deemed “forward-looking statements”. All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.