News Release #06-23

NOT FOR DISSEMMINATION IN THE UNITIED STATES OR VIA US NEWSWIRE SERVICES

Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) (the "Company") is pleased to announce a brokered private placement with Pacific International Securities Inc. ("PI" or the "Agent") of up to 2.5 million units (the "Units") at a price of $0.20 per Unit to raise a total of up to $500,000 (the "Offering"). A Unit will consist of one common share and one non-transferable common share purchase warrant (a "Warrant") valid for two years. Each Warrant will entitle the holder to purchase one additional common share at a price of $0.25 per share during the first year and $0.35 during the second year from the date of closing.

As consideration for acting as agent, the Company has agreed to pay a commission of 8.0 percent of the total proceeds raised in the Offering upon closing, payable in a combination of cash and Units at the election of the Agent. In addition, the Agent will receive compensation options (the "Compensation Options") in an amount equal to 10.0 percent of the number of Units sold pursuant to the Offering. Each Compensation Option is exercisable into one common share of the Company at $0.20 in the first year and $0.35 in the second year from the date of closing.

Proceeds of the placement will be applied to work programs on the Company's current portfolio of properties and new opportunities. Completion of the placement is subject to the approval of the TSX Venture Exchange.

About Yale Resources:

Yale Resources is a growth oriented company that is aggressively exploring an expanding portfolio of Mexican properties. With the purchase of a 100 % interest in the Carol Property, Yale has transitioned into a Project Generator and will continue to seek additional opportunities in Mexico. Yale plans on having a majority of its projects advanced to the drill stage during 2007.

On behalf of the Board,

"Ian Foreman"
Ian Foreman, P.Geo.
President

For Investor Relations please call Contact Financial at 604-689-7422.

For additional information on Yale Resources please call the Company at 604-678-2531.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.