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Columbia Yukon Announces $3.18 Million Financing

June 5, 2007

West Vancouver, British Columbia – June 5, 2007 – Columbia Yukon Explorations Inc. (the “Company”) announces that, subject to regulatory approval, it intends to proceed with a non-brokered private placement (the “Private Placement”) to raise up to $3,180,000 by the issuance of 1,200,000 flow through units at $2.65 per unit (the “FT Units”) to one institutional placee. Each FT Unit will consist of one flow through common share and one share purchase warrant (a “Warrant”), with each Warrant entitling the holder to purchase an additional non-flow through common share at a price of $3.00 for a period of two years from the closing date. If, following the date that is four months following the closing of the Private Placement, the daily volume-weighted average trading price of the Company’s common shares on the TSX Venture Exchange over a period of 10 consecutive trading days is equal to or greater than $4.00, the Issuer may, in its sole discretion, give notice in writing to the Warrant holder that the Warrants will expire on the date set out in the notice (which date will not be less than 30 calendar days after the date that the notice is sent to the Warrant holder).

With respect to this Private Placement, the Company will pay a finder’s fee to Pacific International Securities Inc.

The proceeds from this Private Placement will be used for exploration and development of the Company’s “Storie” molybdenum property located in northern British Columbia.

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

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.