Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) wishes to announce a non-brokered private placement of up to 10,000,000 units at a price of $0.08 per unit to raise a total of up to $800,000. A unit will consist of one common share and one non-transferable common share purchase warrant valid for one year. Each warrant will entitle the holder to purchase one additional common share at a price of $0.11.

The Company has agreed to pay a commission, upon closing, on portions of the proceeds raised. Proceeds of the placement will be applied to ongoing work programs on the Company's current portfolio of properties and on general working capital. Completion of the placement is subject to the approval of the TSX Venture Exchange.

The Company also wishes to announce that it has cancelled 2,150,000 stock options -- 620,000 at $0.35, with expiry date of February 28, 2010; 100,000 at $0.30, expiring May 31, 2010; and 1,430,000 at $0.20 expiring February 10, 2011. The Company has granted 1,950,000 at $0.10 expiring September 29, 2012. The cancellations are in accordance with TSX Venture Exchange guidelines with respect to the re-issuance of any of the cancelled options for 12 months following the cancellation.

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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.