Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) is pleased to announce that final approval has been received from the TSX-V to non-brokered private placement with Macquarie Bank Ltd. and Anglo Pacific Group PLC to place 3,650,000 Units of the Company at a price of $0.18 per Unit for gross proceeds of $657,000. A Unit consists of one common share and one non-transferable common share purchase warrant valid for one year that will entitle the holder to purchase one additional common share at a price of $0.25. The warrants will expire on July 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 November 22, 2008.

The Company paid no commissions or finders fees.

Proceeds of the placement will be applied to a definition drill program at La Verde Grande and the calculation of a first ever 43-101 compliant resource, ongoing work programs on the Company's current portfolio of properties as well as new opportunities.

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.