Mr. Ian Foreman reports
YALE ANNOUNCES WARRANT EXERCISE AND EXPLORATION UPDATE
Yale Resources Ltd. has received gross proceeds of $562,450 from theexercise of 5,624,500 warrants at a price of 10 cents per warrant intocommon stock of the company from its last private placement, whichclosed in three tranches. The remaining unexercised warrants have nowbeen cancelled.
The company intends to use its cash on hand as general workingcapital and to continue with exploration activities on its wholly ownedMexican projects.
Exploration update on the Apache property
The first field program at the wholly owned Apache property hasrecently been completed. A total of 62 samples were taken during theprogram, which also included prospecting and geological mapping.Samples have been submitted to the lab and results are expected inapproximately three weeks.
The Apache property contains three areas of mineralization: the PeAplus or minusa Blanca, El Apache, and La Paridazones. During its first inspection of the property, the company had only sampled the El Apache zone.
SIGNIFICANT RESULTS
Sample # Prospect Ag (g/t) Au (g/t) Cu (%)
SP-089 La Parida 59.0 0.05 0.43
SP-090 La Parida 110.0 0.13 1.92
SP-091 La Parida 401.0 0.47 4.23
SP-092 La Parida 190.0 0.11 2.28
SP-093 La Parida 130.0 0.06 3.96
SP-094 La Parida 70.0 0.13 0.72
SP-095 La Parida 192.0 0.23 1.35
SP-096 La Parida 186.0 0.13 3.11
SP-097 La Parida 64.0 0.10 0.58
SP-100 PeAplus or minusa Blanca 9.0 0.12 0.01
SP-101 PeAplus or minusa Blanca 12.0 0.02 0.03
SP-102 PeAplus or minusa Blanca 11.0 0.02 0.02
SP-238 El Apache 127.0 N.D. 1.34
SP-239 El Apache 91.0 N.D. 0.71
SP-240 El Apache 107.0 N.D. 1.35
SP-241 El Apache 47.0 0.16 1.39
SP-242 El Apache 131.0 0.05 4.30
SP-243 El Apache 60.0 0.04 4.50
SP-244 El Apache 64.0 0.02 3.14
SP-245 El Apache 9.0 0.01 2.75
SP-246 El Apache 59.0 0.02 2.02
**Please note that widths of samples were not provided and the reader
is cautioned that the widths of the samples reported here are unknown.