Yankee Hat Minerals Ltd.

Yankee Hat Minerals Ltd.

June 06, 2006 15:22 ET

Yankee Hat Minerals Ltd.: Update of Activities Fran Property Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 6, 2006) - Yankee Hat Minerals Ltd. (the "Company" or "Yankee Hat") (TSX VENTURE:KHT) is pleased to provide a summary of the planned 2006 exploration program on the Fran Property, which is located in the Omineca mining division in the central part of British Columbia, 60 kilometers north of Fort St. James, 10 kilometers north of Inzana Lake. The claims are 30 kilometers southwest of Placer Dome's Mount Milligan Deposit. Recently, the Company completed a proposal outlining diamond drilling and trenching at the North Contact Zone for the upcoming 2006 season.

The initial phase of the recommended program consists of a geophysical and geological survey, excavator trenching followed by 2500 metres of diamond drilling. The initial holes will be collared in the Bullion Alley zone and will serve to confirm and extend the earlier work done by previous operator Navasota Resources. The limited previous drilling by Navasota Resources on the western part of this gold trend (Bullion Alley) in 2001 to 2002 encountered numerous multigram gold values (up to 60 grams per tonne).

The Company analyzed results from the 2005 trenching and drilling program including Phase I and II drilling results and surface sampling. The data indicates the presence of multi-target multigram gold occurrences that are approximately 1.5 km in strike length. Favorable topography combined with excellent property access indicates the potential for low cost extraction. Subject to successful next phase drilling and continued geological mapping and sampling, the Fran Property has the potential to contain a significant gold deposit.

The Fran exploration program is managed and supervised by Ron Wells P.Geo, FGAC, the Qualified Person under NI 43-101.

The Company recently closed a fully subscribed non-brokered private placement of 6,666,667 units at 15 cents per unit for gross proceeds of $1-million. The proceeds of the financing will be used to finance continuing drilling and exploration on its gold and uranium exploration properties and for general working capital.

About Yankee Hat Minerals Ltd.

The Company is actively exploring the Fran Property, a gold property near Placer Dome's Mt. Milligan deposit in central British Columbia; and the Shanghai Creek Project, a gold target within the Tintina Gold Belt - near Stratagold's Aurex and Dublin Gulch projects in the Yukon Territory. In addition the Company has two uranium projects, the Thelon Basin Property located in Northern Saskatchewan and the Lever Lake IOCG property in NWT.


Donald Gee C.A., President and Chief Executive Officer

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.
    Investor Relations