Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) is pleased to announce that final approval has been received from the TSX-V for the first tranche of the non-brokered financing previously announced on April 28, 2008. The second tranche of the placement totaled 2,040,000 units at a price of $0.18 per unit to raise a total of $367,200. Combined, the two tranches raised a total of $720,000. A unit consists of one share and one half of a non-transferable share purchase warrant. Each share purchase warrant will be valid for a period of one year and will entitle the holder to purchase an additional share at a price of $0.25 per share. The warrants will expire on May 21, 2009. The shares forming part of the units and the shares acquired on exercise of the warrants are subject to restrictions on resale until Sept. 22, 2008.

The Company paid finders fees on a portion of the proceeds raised totaling $5,112 and 35,500 agents warrants. Each agent warrant will be valid for a period of one year and will entitle the holder to purchase an additional share at a price of $0.25 per share.

Proceeds of the placement will be applied to current work programs on the Company's portfolio of properties.

On behalf of the Board,

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

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.