Yale Identifies Significant New Gold-Silver Mineralization at the Urique Project, Mexico: Financial News

Yale Identifies Significant New Gold-Silver Mineralization at the Urique Project, Mexico
Wednesday February 6, 2008 1:46 pm ET

VANCOUVER, BC--(MARKET WIRE)--Feb 6, 2008 -- Yale Resources Ltd. (CDNX:YLL.V - News) (Frankfurt:YAB.F - News) is pleased to announce that sampling performed in late 2007 has resulted in the identification of a significant new mineralized target at the Urique Project located in the prolific Sierra Madre Gold Belt, southern Chihuahua State, Mexico.

This most recently identified zone, El Rosario, is located east of the town of Urique and comprises multiple historic mines and prospects that exploited a system of high grade veins. Formal mining of this area ended in the late 1920s and consisted of several hundred metres of underground workings on three levels. These historic workings are all within a zone of strong silicification in the andesite host rocks that measures approximately 100 metres wide and over 400 metres long. The zone is open at depth and along strike.

Sampling has yielded significant values of as much as 10.6 g/t gold and 8,290.0 g/t (or 241.5 ounces per ton) silver from 10-40 centimetre wide veins (see table below for more detailed results). Sampling within the altered andesite has yielded gold and silver values of as much as 0.2 to 0.3 g/t gold and 5.0 to 41.0 g/t silver suggesting that the El Rosario area has the potential to host a bulk tonnage open pittable resource.

As this area has poor exposure, trenching and drilling will be needed to fully understand the geology and mineralization. Significant assay results from the El Rosario area are shown below.

 
---------------------------------------------------------------
Sample     Width     Au      Ag     Ag     Cu      Pb      Zn
            (m)    (g/t)   (g/t)  (oz/t)   (%)     (%)     (%)
---------------------------------------------------------------
El Rosario area - Surface

7463       0.25     1.35 1,050.0   30.6     -      4.5      -
7466       0.85     8.13    25.0    0.7     -       -       -
7471       0.35     1.35   977.0   28.5     -      7.2      -
7472       0.25     0.33   194.0    5.7     -      1.0     0.8
7473       0.10     1.23 1,110.0   32.3    0.2    17.3     1.8
7474       0.30     1.01   341.0    9.9     -      2.0      -
7510       0.10     7.17    49.0    1.4     -      0.3     0.2
7515       0.40     2.86    10.2    0.3     -       -       -
7517       0.10     2.46    29.0    0.8     -      0.2      -

Mina Murcielego - Vein

7485       0.10     1.73 8,290.0  241.5    1.6     5.0     0.6
7487       0.10     2.78 3,640.0  106.0    1.0    11.7     0.3
7490       0.12     8.88 1,030.0   30.0    0.3     8.6     1.8

Mina Murcielego - Wallrock

7486       0.80     0.24    76.3    2.2     -      0.2     0.2
7488       0.40     0.45    37.5    1.1     -      0.5     0.2

7489       0.80     0.16   265.0    7.7     -      0.3     0.2


Mina Murcielego - Surface

7491       0.50     1.09   196.0    5.7     -      0.8      -
7492       0.10     2.72   870.0   25.3     -      1.4      -

El Salto Crosscut - Veins

6858       0.22     4.93   804.0   23.4    0.2     0.4      -
6859       0.10     3.72   425.0   12.4    0.6     0.4     0.7

El Salto Crosscut - Wallrock

6854       0.44     0.19    21.3    0.6     -       -       -
6856       1.05     0.16     6.4    0.2     -       -       -
6860       0.40     0.43    14.1    0.4     -       -       -

Prospect pits and small workings - Veins

6815       0.15     0.06   898.0  241.5    0.2     2.0      -
7483       0.10     2.14 3,220.0   93.8    1.2     7.4     6.9
7497       0.10     0.62   197.0    5.7     -      1.2      -
7499       0.12     0.98   210.0    6.1     -      0.6      -
7500       0.30     1.54   261.0    7.6     -      2.6     0.5
7501       0.10     0.83   293.0    8.5     -      2.2      -

Tezcalama Crosscut - Veins

6837       0.40     2.28    15.9    0.5     -       -       -
6838       0.10     0.35 1,550.0   45.2    0.5     0.4     0.2
6840       0.10     2.24   524.0   15.3    0.2     1.3     0.2
6842       0.17     2.87 1,155.0   33.6    1.1     2.7     0.2
6843       0.10     0.76   302.0    8.8    0.2     0.3     7.9
6853       0.10    10.60   453.0   13.2    0.5     7.9     2.8

Tezcalama Crosscut - Altered wallrock

6844       2.00     0.02    10.1    0.3     -       -      0.2
6845       2.00     0.05     5.3    0.2     -       -       -
6846       2.00     0.32     5.1    0.1     -       -      0.2
6847       2.00     0.30    41.2    1.2     -       -       -
6848       2.00     0.21     5.5    0.2     -       -       -
6849       2.00     0.01     2.0    0.1     -       -       -
6850       1.60     0.09    12.2    0.4     -       -       -
6851       1.50     0.24     5.0    0.1     -       -       -
6852       1.00     0.07    38.6    1.1     -       -      0.2

The El Rosario target was previously part of the Urique Target, but since greater than 30 historic mines have been found within the area, the four square kilometre Urique Target has been broken into several smaller parcels. The El Rosario target is the first to have received detailed mapping and sampling.

About the Urique Project

The Urique project consists of 16 concessions covering 29,100 hectares in western Chihuahua State. The property is immediately north of, and contiguous with, Goldcorp's property -- host to the El Sauzal gold mine. The project is the subject of an earn-in option agreement between EXMIN Resources Inc. (CDNX:EXM.V - News) and Yale Resources, whereby Yale can earn a 75 % interest. Yale may earn an initial 60% interest in the project by making expenditures of US $2.8 million in exploration and issuing 1 million shares to EXMIN over four years, and can earn an additional 15 % interest by investing US $1.7 million in exploration and issuing 500,000 shares to EXMIN in the fifth year. EXMIN is the project operator.

Samples were prepared and analyzed by ALS Chemex in their facilities in Mexico and Vancouver, respectively. Gold analyses were performed by 30 gram fire assay with an AA finish; samples with more than 10g/t gold were analyzed by fire assay and gravimetric methods. Silver and the base metals were analyzed as part of a multi-element ICP package using an aqua regia digestion; samples with more than 100 g/t silver or more than 1% base metals were analyzed by AA. Samples with more than 1,500 g/t silver were analyzed by gravimetric methods

Dr. Craig Gibson, PhD., Certified Professional Geologist, and Executive Vice President of Exploration for EXMIN Resources Inc., is the direct manager of all technical programs and information on the part of EXMIN and has reviewed the technical information in this news release. Ian Foreman, P.Geo., is Yale Resources' Qualified Person, as defined by National Instrument 42-101 for the Urique Project.

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.

News Release #08-5

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