Apr 08, 2010
Yale Aqcuires Property In Sonora State, Mexico
Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) is pleased to announce the acquisition of a 100% interest in the 1,630 hectare (or 16.3 square kilometre) Los Amoles Property, located approximately 150 kilometres northeast of the Hermosillo, Sonora State, Mexico. The property is approximately 10 kilometres northeast of the La Caridad Mine, operated by Grupo Mexico, which is one of the largest mining and processing complexes in Mexico.
An initial field program has recently been completed on the property with results pending.
The primary target area is a 1,100 metre wide zone that contains at least 20 historic workings. These workings exploited a series of sub-parallel northeast trending veins and vein-sets. One of the principle workings in the area, the El Rosario mine, has a greater than 100 metre deep shaft and a drift that is greater than 70 metres long. In addition to the historic workings, the first field visit encountered a drill site for a reverse circulation drill hole. The date, values, total number of holes as well as the company that drilled the holes are unknown at this time.
Historic maps show at least 10 other historical workings within the remainder of the property. These areas will be investigated during subsequent field programs.
Yale has agreed to purchase a 100% interest in the Los Amoles property by paying $227,500 payable as 3.5 million shares - subject to TSX Venture approval - to a private individual.
The Los Amoles Property is Yale's seventh project in Mexico and as part of the Company's Project Generator business model will be added to our portfolio of projects available for option.
On behalf of the Board,
Ian Foreman, P.Geo.
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.
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