China YouTV Corporation
OTC Bulletin Board : CYTV

April 30, 2007 20:05 ET

China YouTV's JV Partner Signs Music Resource Exchange Agreement

BEIJING, CHINA--(CCNMatthews - April 30, 2007) - China YouTV Corp. (OTCBB:CYTV), a publicly traded company that recently entered into the growing online video viewing market in China, reported its JV partner HuaJu has signed an Agreement with Music Nation Records Company Limited ("Music Nation") to use Music Nation's audio and video files on its rapidly growing CnBoo video web site.

Music Nation is a record distribution company in Beijing. Music Nation has a library that includes audio, video, disc, images, text, etc. According to the Agreement, Music Nation grants CnBoo with a one-year non-exclusive license to use its resources on CnBoo's web site. Music Nation will also update the content that it provides CnBoo on a regular basis.

China YouTV owns fifty-one percent of the Joint Venture that owns the CnBoo web site. CnBoo is a video viewing site and social networking site that allows users to create their own profiles, post videos, and comment on each other's posts. The CnBoo web site is similar to YouTube (www.YouTube.com), the No. 1 online video site. Within less than 2 years, CnBoo already has over 1.2 million members and over 1 million pieces of original digital video (DV) shorts. It has entered into several agreements recently that should provide content to the web site or attract members to the web site, which is part of CnBoo's strategy to grow its membership as quickly as possible. This approach is comparable to how YouTube built its company into an on-line music and video franchise that it sold to Google for $1.7 billion last year.

About China YouTV Corporation:

The Company signed a Definitive Agreement with HuaJu NetMedia to set up a Joint Venture in China on March 16, 2007. According to the Agreement, the Company owns 51% of the joint venture company and will provide the required working capital for the Joint Venture. HuaJu will be in charge of the daily operation of the Joint Venture. HuaJu has agreed to conduct its video sharing business only through the Joint Venture, and has agreed to contribute its web site, www.CnBoo.com, and customer contracts to the Joint Venture.

www.CnBoo.com ("CnBoo"), is the online video site belonging to the Joint Venture established by China YouTV Corp. and HuaJu. It is a video viewing site and social networking site that allows users to create their own profiles, post videos, and comment on each other's posts. The CnBoo web site is similar to YouTube (www.YouTube.com), the No. 1 online video site in operation. Within less than 2 years, CnBoo already has over 1.2 million members and over 1 million pieces of original digital video (DV) shorts.

To increase membership and CnBoo's brand name awareness, HuaJu has worked both on-line and off-line. HuaJu has signed several agreements to enhance its on-line contents, such as agreement for CCTV's TV program "Exploring High and Low", and an agreement with ManGoCity, a travel company and the recent agreement with Music Nation. Off-line, HuaJu has signed agreements to promote its 3G space cards through Gome Electrical Appliances Holding Ltd., the largest chain store operator of electrical appliances in China to distribute its 3G digital space cards to Gome customers. The Company also has signed agreement with HURRAY, a NASDAQ listed company, for the launch of 3G experience terminals in Gome's stores; 3G card agreement with ManGoCity, and agreement with Z-Card.

The Company has changed its name to China YouTV to reflect its new business operations: the fast growing video sharing web site market in China, and at the same time, to continue its exploration of mineral properties in British Columbia, Canada.

Forward-looking statements

This report contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion.

The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.

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