Columbia Yukon Significantly Increases the Exploration Potential for its Storie Property Molybdenum Deposit

West Vancouver, British Columbia – December 2, 2009 – Columbia Yukon Explorations Inc. (the “Company” or “Columbia Yukon”) is pleased to report on the 2009 exploration results for its “Storie” Property molybdenum deposit located near Cassiar, British Columbia.

Columbia Yukon’s 2009 exploration work program (as summarized in the Company’s news release of November 27, 2009) included detailed geological mapping and prospecting of the southern portions of the Storie molybdenum deposit within the existing pit boundary.  This area was previously classified as waste rock due to minimal exploration data.  The 2009 exploration program was successful in delineating the north, east and west contacts of a distinctive quartz feldspar porphyry geological unit (the “QFP Unit”). Within the QFP Unit outcrop, coarsely disseminated and globular molybdenite appears to be best developed along the geological contacts. The QFP Unit, which was also intersected at depth in the NI 43-101 reserve definition drilling of 2007 & 2008 is roughly circular in plan view and may represent a cylindrical stock or pipe which the Company believes to be the potential feeder into the multi-stage layered Storie molybdenum deposit above. As well, one traverse up the canyon near the eastern contact of the stock resulted in a new significant discovery of coarsely disseminated molybdenite within the QFP Unit at a point elevationally 150 metres beneath all known mineralization on the Storie Property to date.

“We are extremely pleased with the results from our 2009 exploration program and the Company believes that the new discoveries could have a significant blue sky potential for the project and could both increase the already large deposit size and additionally lead to the discovery of a high grade feeder zone” said Ronald Coombes, CEO & President of Columbia Yukon.

A genetic model of the new potential discoveries can be viewed at the Company’s website at www.columbiayukon.com.

This news release has been reviewed and approved by Robert Middleton, P.Eng., who is acting as Qualified Person for the Company’s 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 Property molybdenum deposit situated about 6 km southwest of Cassiar, British Columbia. The Storie Property molybdenum deposit has an April 2009 updated NI 43-101 compliant Measured and Indicated Resource of 139.82 million tonnes grading 0.064% Mo (at a cut-off of 0.030% Mo) and 58.39 million tonnes of Inferred Resource grading 0.059% Mo (at a cut-off of 0.030% Mo). Cassiar, British Columbia is located 15 km by road west of Highway 37 which connects to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south.

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For further information, please contact:

 
Columbia Yukon Explorations Inc.

“Ronald A.Coombes”
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Ronald A. Coombes, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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.