Columbia Yukon Acquires Additional Properties Near its 'Storie' Molybdenum Deposit
WEST VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/12/10 -- Columbia Yukon Explorations Inc. (the 'Company' or 'Columbia Yukon') (TSX VENTURE: CYU)(FRANKFURT: VOR) is pleased to announce that further to the Company's news release of June 30, 2010, the TSX Venture Exchange (the 'Exchange') has accepted the Company's filing in connection with its acquisition of certain additional properties located in the vicinity of Columbia Yukon's 'Storie' property molybdenum deposit located near Cassiar, British Columbia.
The additional properties are being acquired from Velocity Minerals Ltd. ('Velocity') and from S. Gerald Diakow ('Diakow'). Under the agreement with Velocity, the Company has agreed to pay $25,000 and issue 200,000 shares and under the agreement with Diakow, the Company has agreed to pay $5,000. The additional properties are being acquired by Columbia Yukon as a potential alternate tailings site for the future development of the Company's molybdenum project, and as such, the properties are not being acquired for resource exploration purposes. The property acquired from Velocity is subject to a 15% NSR and the property acquired from Diakow is subject to a 1% NSR.
About Columbia Yukon Explorations Inc.
Columbia Yukon is a Canadian mineral exploration company focused on the development of its Storie Property molybdenum deposit situated about 6 km southwest of Cassiar, British Columbia. The Storie Property molybdenum deposit has an April 2009 updated NI 43-101 compliant Measured and Indicated Resource of 139.82 million tonnes grading 0.064% Mo (at a cut-off of 0.030% Mo) and 58.39 million tonnes of Inferred Resource grading 0.059% Mo (at a cut-off of 0.030% Mo). Cassiar, British Columbia is located 15 km by road west of Highway 37 which connects to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south.
Columbia Yukon Explorations Inc.
Ronald A. Coombes, President & CEO
Neither the 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.
Contacts:
Columbia Yukon Explorations Inc.
Mr. Clive Shallow
Investor Communications
604-922-2030
604-922-2037 (FAX)
info@columbiayukon.com
www.columbiayukon.com