Yankee Hat Minerals Ltd.

Yankee Hat Minerals Ltd.

January 17, 2007 15:03 ET

Yankee Hat Announces Winter Drill Program Targeting the North Contact Zone, Fran Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 17, 2007) - Yankee Hat Minerals Ltd. (the "Company") (TSX VENTURE:KHT) is pleased to announce that diamond drilling will recommence on the North Contact Zone of the Fran Property in the first week of February. The Fran property is located 60 kilometers north of Fort St. James and is 30 kilometres southwest of Mount Milligan, one of British Columbia's largest undeveloped mineral deposits. More than 20 shallow holes will further test the North Contact Zone over a 1 kilometer strike length to vertical depths of 150 metres.

In 2006, 14 holes tested the North Contact Zone over a strike length of 800 metres for a total of 2060 metres. This drilling concentrated on the east and west ends of this zone leaving a 250 metre gap in the central area. In 2007 several initial drill holes will close this gap and test open areas to the east and west.

An updated drill map is available at: www.yankeehatminerals.com/_resources/fran/images/north_contact_drilling_tre
nching.jpg (Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field.)

The continuity of the polymetallic vein-replacement style mineralization within the 2006 drilling area is excellent with true widths ranging from 2 to 50 metres. Average gold grades in trenches and drill holes are similar, commonly in the 3 to 9 gt range with individual samples up to 93 gt Au. Silver, copper and locally lead and zinc values are associated with the more significant gold intercepts. Highlights from the 2006 Phase 1 drilling on the North Contact Zone are as follows:

- FR-47 4.0m of 7.91 gt Au, 12.78 gt Ag, 0.39% Cu

- FR-55 9.55m of 8.51 gt Au, 14.81 gt Ag, 0.25% Cu

- FR-58 57.44m of 0.82 gt Au, Incl. 8.47m of 3.04 gt Au, 1.57 gt Ag,
0.06% Cu

- FR-59 54.60m of 1.12 gt Au, Incl. 4.85m of 10.96 gt Au, 40.15 gt Ag,
1.48% Cu

- FR-61 17.12m of 1.2 gt Au, Incl. 2.85m of 2.42 gt Au, 7.0 gt Ag,
0.16% Cu

Importantly, some of the better intercepts occur near either end of the 2006 drilling area, for example FR-55 at the far western end. The gold zone is open in all directions.

Company management and consultants are extremely pleased with the results on the North Contact Zone to date and there is excellent potential to define a sizeable gold zone(s). 2007 drill results will be released when compiled and interpreted in a timely manner. Besides the North Contact-Zone there are several other gold zones on the Fran property that have yet to be drilled. These will receive initial testing in 2007, possibly during the summer program.

Ronald Wells, P.Geo. FGAC is the Qualified Person under National Instrument 43-101 who is supervising and managing the Fran exploration program.

About Yankee Hat Minerals Ltd.

Yankee Hat Minerals is actively exploring the Fran Property, a gold/base metals target near the Mt. Milligan deposit in central British Columbia and the Union Mine Property in the Greenwood Mining Division near Grand Forks, British Columbia.

Terry R. Fields, President and Director

This news release has been prepared by management. 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 harbor.

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

Contact Information

  • Yankee Hat Minerals Ltd.
    Donald Gee
    (604) 618-3433
    (604) 646-0640 (FAX)
    Yankee Hat Minerals Ltd.
    Shareholder Communications
    1-877-711-6111 or 1-866-345-0115
    Website: www.yankeehatminerals.com