WEST VANCOUVER, BRITISH COLUMBIA – May 24, 2006 – Columbia Yukon Explorations Inc. (the “Company”) (CYU:TSXV) announces that it has commenced data compilation, permit applications with Mines & Energy, and tenures with drill contractors in connection with the Company’s proposed first phase work program on the Storie molybdenum claims recently optioned by the Company from Eveready Resource Corporation (see the Company’s news release dated May 2, 2006). The first phase of the work program will consist of an initial drill program of between 5,000 to 10,000 metres. Mr. John Kowalchuk, P. Geo and VP Explorations for the Company, will be managing the program.
The Storie Property is located in the Liard Mining Division, 5 kilometres south of the town of Cassiar, British Columbia. The Cassiar Townsite lies 125 km north of Dease Lake, BC and 145 km, south of Watson Lake, Yukon. The property is easily accessible via paved highway from Smithers, BC.
The purpose of the first phase of the work program is to conduct sufficient drilling to be able to classify a National Instrument 43-101 (“NI 43-101”) compliant resource on the property and to expand the known deposit zone, which is currently open in three directions. The property currently contains a non NI 43-101 compliant historical resource of approximately 100.5 million tonnes grading 0.129 MoS2. This resource is a historical resource calculated by Shell Minerals in 1981 and does not meet NI 43-101 standards. Mr. John Kowalchuk, P. Geo and the Company’s Qualified Person under NI 43- 101, has not reviewed the calculation for the resource; however, believes that the historical resource is relevant and was calculated by competent engineers to the standards of the period in which the resource was calculated.
John Kowalchuk, P. Geo., has reviewed this release and is acting as the Company’s Qualified Person for this project.
COLUMBIA YUKON EXPLORATIONS INC.
“RONALD A. COOMBES”
Ronald A. Coombes, President
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release.
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