Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) is announcing the Company, given current market conditions, is filing with the TSX Venture Exchange a proposal to extend, for a period of one year, the expiry date and amend the exercise price of 4,901,720 Share Purchase Warrants ("Warrants") that were issued to subscribers to the Company's 2,361,000 unit private placement at $0.20 per unit, which closed December 11, 2006 and the Company's 2,500,00 unit private placement at $0.20 per unit, which closed on December 21, 2006. The current exercise price of the Warrants is $0.35 per share and the Warrants expire December 11, 2008 and December 21, 2008, respectively.

The proposed new exercise price will be $0.05 per share; provided, however, in accordance with the policies of the TSX, if the Company's common shares trade on the TSX or, if the shares are no longer listed on the TSX, on such other exchange on which such shares are listed above a weighted average trading price of $0.065 for ten consecutive trading days, the Company will provide written notice of acceleration of the expiry date of all of the Warrants to the warrant holders and issue a press release on the date of such Notice publicly announcing such acceleration, and the expiry date for the Warrants will then be accelerated to the date which is thirty days following the date which is seven calendar days following the tenth Premium Trading Day.

In order for the Company to proceed with its application to the TSX, the Company has received written approval from all of the warrant holders, which are included as part of the application with the TSX. The re-pricing and extension of these Warrants is subject to TSX approvals.

In addition, the Company would like to announce that is granting incentive stock options under the Company's stock option plan to directors, officers, and employees of the Company to purchase an aggregate of 935,000 treasury shares. The options are exercisable for a period of three years at a price of $0.10 per share and are subject to the policies of the TSX Venture Exchange.


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.