West Vancouver, British Columbia – June 3, 2010 – Columbia Yukon Explorations Inc. (the “Company” or “Columbia Yukon”) is pleased to report the submission of its draft “Project Description” for its “Storie” Property molybdenum deposit located near Cassiar, British Columbia.
The draft Project Description has been submitted to the B.C. Environmental Assessment Office and to the applicable Federal regulators for their review and comment. Once the Company receives comments from the Provincial and Federal regulators, the Company then anticipates receiving a Section 10 Order which will designate its Storie Moly Deposit as a “Reviewable Project” and will officially allow the Company to enter into the formal EA process.
“Our Company has been compiling the necessary data and conducting baseline environmental studies since 2006 in order to effectively advance the Storie Moly Project through the environmental permitting process. Columbia Yukon’s Project Description application is yet another very important milestone for the development of what the Company believes will be a very significant project for the local region and the Province”, said Ronald Coombes, CEO & President of Columbia Yukon.
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.
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, 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” within the meaning of applicable securities legislation. 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. Such statements are not guarantees of future performance and actual results or developments may differ materially from those expressed in, or implied by, this forward-looking information. 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 and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.