SOURCE: Yale Resources Ltd.

October 23, 2007 13:28 ET

Yale Identifies Extension to the La Verde Grande Deposit

VANCOUVER, BC--(Marketwire - October 23, 2007) - Yale Resources Ltd. (TSX-V: YLL) (FRANKFURT: YAB) is pleased to report that based on recent sampling and mapping, the extent of the La Verde Grande deposit is significantly greater than previously understood. Company geologists have identified additional skarn mineralization within a sixth adit at the mine that was previously thought to only be an access way. The La Verde Grande Mine is one of eight known targets within the wholly owned La Verde Project, located 45 km northwest of Hermosillo, Sonora State, Mexico.

"The discovery of this mineralization is significant as it demonstrates that the La Verde Grande deposit is potentially much larger than previously thought," stated Ian Foreman, P.Geo., president of Yale. "With at least five other targets that have similar geology combined with the potential for additional discoveries, there is significant Blue Sky for the project."

This new mineralization occurs within a sixth adit located approximately 80 metres due south of the main entrance to the La Verde Grande Mine. A compilation plan map of the La Verde Grande Mine is available at the Company's website (http://www.yaleresources.com/s/LaVerde.asp).

As these workings are over 90 years old, the walls are black with soot and the copper oxides exposed below were covered up. The Yale sampling crews have now taken an additional 45 vertical chip channel samples from within this new area. Of particular interest is a vertical shaft that has been measured to be at least 80 metres deep (the equivalent of a 26-storey building). This shaft has yet to be entered or mapped and sampled.

A report dated December 13, 1919, states:

"The present depth of the shaft from surface is 370 feet, this shaft passes through a 50 foot body of carbon ores, there has been considerable evidence of mineral showing in the shaft for the last 125 feet, at times sulphides have made their appearance.

"It is very possible that we have identified this shaft, which, in turn, now creates an intriguing exploration target for us," commented Ian Foreman.

Initial results received:

The first batch of results has been received and is being incorporated into the database. These results will be released on an ongoing basis on a per level / per target basis. To date, 226 samples have been taken.

Ongoing work at La Verde:

The sampling crews are now working on the La Verde I, La Verde II and San Louis targets (previously called La Verdesita), located approximately 1.3 km south of the La Verde Grande Mine. Each has seen limited production and collectively they form a mineralized trend measuring approximately 250 metres in length. These targets have never been drilled.

About the La Verde Project:

The La Verde project covers 2,640 hectares (26.4 square kilometres) and is located 45 kilometres northwest of Hermosillo, Sonora state, Mexico. In addition to the historic La Verde Grande copper-zinc-silver-gold mine, the La Verde project contains at least five other known deposits that have all seen limited production. The La Verde Grande Mine is a skarn deposit with a pre-NI 43-101 historic resource of 459,551 tonnes grading 2.29 per cent copper, 98.54 grams per tonne (g/t) silver and 0.38 g/t gold. In addition to possible extensions to the La Verde Grande Mine, the La Verde project has considerable exploration potential.

In addition, the La Sierrita copper-zinc-molybdenum porphyry, located in the northeast of the project area, covers an area of approximately four square kilometres and has seen only limited exploration.

Ian Foreman, P.Geo, is the Qualified Person, according to National Instrument 43-101, for the La Verde Project and is responsible for the technical data mentioned in this news release. All 'Historic Data' is presented for reference only and should not be relied upon as it pre-dates NI 43-101.

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 #07-24

Contact Information

  • Yale Resources Ltd.
    600 - 890 West Pender St.
    Vancouver, B.C.
    V6C 1K4 Canada
    Phone: (604) 678-2531
    Fax: (604) 678-2532