Yankee Hat Minerals Ltd.

Yankee Hat Minerals Ltd.

January 21, 2010 10:00 ET

Yankee Hat Announces Operations Plan for Its Gold, Rare Earths and Tungsten Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2010) - Yankee Hat Minerals Ltd. ("Yankee Hat" or the "Company") (TSX VENTURE:KHT), is pleased to announce its operating plans for the upcoming year. The Company intends to focus on three key assets that with the proposed work programs and proper funding management believe will generate the best value for its shareholders. The Company intends to focus on the following projects:

  1. Advance exploration on the Fran Property located near the Mount Milligan Area of British Columbia with the intention to generate an initial NI 43-101 compliant gold reserve calculation;
  2. Update historical exploration on its Lancer Rare Earth Property in the Yukon Territory; and
  3. Analyze the drill results from Yankee Hat's Kidlark Tungsten 2009 Project in conjunction with its 2010 exploration program with the Japan Oil, Gas and Metals National Corporation ("JOGMEC").

The following summarizes the work that will take place on each of these three projects. A more detailed report on each project will be provided as information is received.

The Fran Property
The Fran Property is a gold property located in the Mount Milligan area in northern British Columbia. To date, drilling and exploration on the Fran Property has been focused largely on a geological target known as the North Contact Zone; an area that is being explored by the Company with the aim of defining a significant near surface gold deposit amenable to open-pit mining. Since drilling began in 2005, a total of 5,918 meters have been completed in 36 holes at the North Contact Zone. Yankee Hat has begun to compile the data into a 3D Gemcom model which should be completed by April 2010. The Company then intends to use this model to determine drill locations to identify the potential resource on the property. Yankee Hat's current hypothesis is that the potential mineralized zone is approximately 1,000 meters in length and 16 metres wide based on previous drill results.

The Lancer Property
The Lancer Property is located in south central Yukon Territory and is unique because it is one of only a few rare earth projects in North America that are relatively accessible. Historically this property has provided extremely attractive values of rare earth elements. These results, which are not NI 43-101 compliant, were first discovered in 1976 by Chevron Minerals and Kerr Addison. Subsequent prospecting, sampling, trenching and mapping by Dodgex in the 1990's outlined a mineralized structure with high values of niobium, uranium, zirconium, yttrium and other rare earth elements. This extensive structure has been traced over a horizontal distance of 650 meters, a vertical height of 245 meters with an average width of 4.0 meters. The Company intends to conduct an exploration program in an attempt to confirm historic results and bring all information up to date and in compliance with NI 43-101 standards.

The Kidlark Property
Yankee Hat is exploring this Tungsten property, located in central Yukon Territory, in its capacity as operator with its joint venture partnership with JOGMEC. The Company has completed an 8 hole drill program intended to support the high sample Tungsten values that were discovered in late 2008 through a trenching program. The final report on this program should be available within a month. The results of this report will assist in defining a work program for the summer of 2010.

If funding is available, the Company will also develop an exploration plan for the Union Gold and Platinum Property located in southern British Columbia.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Mr. Terence Schorn, P.Geo, Chairman of Yankee Hat, and a qualified person.

About Yankee Hat Minerals Ltd.
Yankee Hat Minerals Ltd. is a publicly held resource company that utilizes its management's expertise in mineral exploration and evaluation, and financial acumen, to identify, acquire, and develop mineral prospects in mining friendly jurisdictions with the potential to host large-scale discoveries. The company strategically focuses on advanced stage projects and commodities that have strong underlying price fundamentals such as gold and precious metals, rare earth elements and tungsten. The Company's website at www.yankeehatminerals.com and public filings at www.sedar.com provide additional information on its projects and other information with respect to its management and operations.


P. Bradley Kitchen, President

This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.

Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although both companies have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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.

Contact Information