Yankee Hat Minerals Ltd.

Yankee Hat Minerals Ltd.

October 18, 2007 14:55 ET

Yankee Hat Announces Successful Completion of Summer Work Program on Fran Gold Project

VANCOUVER, BRITISH COLUMIA--(Marketwire - Oct. 18, 2007) - Yankee Hat Minerals Ltd. (the "Company") (TSX VENTURE:KHT) is pleased to announce the successful completion of its 2007 summer work program on its Fran gold property, located in the Mount Milligan area of northern British Columbia. The property is comprised of approximately 10,200 hectares (25,200 acres) of mineral claims located approximately 60 kilometers north of Fort St. James.

The focus of the work program was to identify exploration targets for porphyry style mineralized systems. The region surrounding the Fran property is well known for its abundance of world-class porphyry deposits and mines, most notably the Mount Milligan deposit located 30 kilometers northeast of Fran and Northgate Minerals' Kemess South mine located 250 kilometers to the north. More recently, Serengeti Resources announced the discovery of a potentially significant copper-gold-molybdenum porphyry system at its Kwanika property 50 kilometers to the northwest of the Fran.

Summer exploration consisted of Induced Polarization (IP) surveys and soil sampling covering two newly identified target areas:

- Grid A - which covers a significant airborne magnetic anomaly;

- Grid B - which covers a strong silt and soil geochemical anomalous area.

For a map showing the location of the grids, please click on the following link: http://yankeehatminerals.com/_resources/gridlocationsoct07.pdf

At Grid A, 39 line kilometers of IP were completed on 400 meter spaced lines and 597 soil samples were collected and submitted to the lab. The survey indicated a strong geophysical anomaly in the southern part of the grid, striking east-west over 3.2 kilometers. Follow up trenching has been recommended for the area.

At Grid B, 8 line kilometers of IP were completed on 400 meter spaced lines and 395 soil samples were collected. The survey showed three strong chargeability anomalies trending north northwest. In addition, a moderate chargeability anomaly that appears to correspond to a strong alteration zone was identified. Follow up trenching and additional IP surveying and soil sampling has been recommended for this area as well.

In addition to the IP surveys and soil sampling, both grids were prospected and mapped. A total of 27 outcrop samples were collected from the grid areas and submitted to Eco Tech Laboratory in Kamloops, B.C for analysis; the results of which are pending.

"The early exploration success at these new target areas gives an important indication of the property's untapped potential and upside," said Brad Kitchen, President and CEO. "Our geological team is encouraged by the initial survey results and we are in the process of planning an aggressive drilling and exploration program on the property for 2008."

To date, drilling and exploration at the Fran project 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 methods. Since drilling began in 2005, a total of 5,918 meters have been completed in 36 holes at the North Contact Zone.

Based on the success of the summer work program the Company is planning an expanded exploration program for 2008. The program will be designed to accomplish two main goals:

a) Additional drilling at the North Contact Zone will be aimed at gaining the data necessary to estimate an initial NI 43-101 compliant resource estimate for the zone.

b) Further regional exploration at Grid A and Grid B will be focused on identifying drill targets to test for potential porphyry style mineralized systems.

Wayne Murton, P. Eng. is the Qualified Person under National Instrument 43-101 who is supervising the Fran exploration program.

About Yankee Hat Minerals Ltd.

Yankee Hat Minerals Ltd. is a Canadian gold exploration company that trades on the TSX Venture Exchange under the symbol KHT. Yankee Hat's goal is to combine its expertise in mineral exploration and evaluation, with its financial acumen, to exploit undervalued gold properties.

Currently the company is actively exploring two gold projects in British Columbia: the Fran property located 60 kilometers north of Fort St. James; and the Union Mine property located 55 kilometers north of Grand Forks.

Through its experienced management team and industry contacts, Yankee Hat will continue to aggressively uncover and acquire high potential gold projects to ensure long-term growth and build shareholder wealth.


Brad Kitchen, President and Director

For more information please visit the company website at: http://www.yankeehatminerals.com

This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or achievements implied by these forward looking statements. We seek safe harbour.

This news release has been prepared by management. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release

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