Columbia Yukon Explorations Inc.

Columbia Yukon Explorations Inc.

September 28, 2010 10:26 ET

Columbia Yukon Closes Private Placement

WEST VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2010) - Columbia Yukon Explorations Inc. (TSX VENTURE:CYU)(FRANKFURT:VOR) (the "Company" or "Columbia Yukon") is pleased to announce that, further to its news release dated August 20, 2010, Columbia Yukon has closed its non-brokered private placement (the "Private Placement"). The Company has raised $383,600 by the issuance of 2,557,333 flow through units (the "FT Units") at a price of $0.15 per unit. Each FT Unit consists of one flow through common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional non-flow through common share at a price of $0.15 for a period of two years from the closing date. All of the securities issued pursuant to this Private Placement are subject to a hold period expiring on January 28, 2011.

The Company intends to use the proceeds from the Private Placement for furthering the exploration of the Company's Storie Property molybdenum project.

About Columbia Yukon Explorations Inc.

Columbia Yukon is a Canadian mineral exploration company focused on the development of its Storie Property molybdenum deposit situated about 6 km southwest of Cassiar, British Columbia. The Storie Property molybdenum deposit has an April 2009 updated NI 43-101 compliant Measured and Indicated Resource of 139.82 million tonnes grading 0.064% Mo (at a cut-off of 0.030% Mo) and 58.39 million tonnes of Inferred Resource grading 0.059% Mo (at a cut-off of 0.030% Mo). Cassiar, British Columbia is located 15 km by road west of Highway 37 which connects to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south.

Columbia Yukon Explorations Inc.

Douglas L. Mason, Director

Neither the 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.

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