Columbia Yukon Explorations Inc.

Columbia Yukon Explorations Inc.

March 13, 2007 10:07 ET

Columbia Yukon Explorations Inc.: "Storie Molybdenum Deposit"

Two Drills for 20,000 Metre Expansion Program

WEST VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 13, 2007) - Columbia Yukon Explorations Inc. (TSX VENTURE:CYU) (the "Company") is pleased to announce that a contract has been awarded to DJ Drilling located at Watson Lake, British Columbia. DJ Drilling has agreed to supply two drill rigs to drill a minimum 10,000 to 20,000 metres as previously budgeted and reported. The Storie property lies south of the former Cassiar Mine townsite and is accessible by paved highway to Cassiar and then five kilometers of all weather gravel road.

For 2007, core drilling is intended to provide additional confirmation of the resource with infill drilling, and to test the potential increase of the size of the resource with exploration along strike and in parallel targets which is scheduled to start in late spring. Also, prior to completing a pre-feasibility study, the Company plans to take a bulk sample for preliminary metallurgical testing. An IP geophysical is planned to identify drill targets in other potential new zones.

The historical resource estimate for the Storie Property molybdenum deposit is 100,500,000 tonnes @ 0.077% Mo or 0.129% MoS2. The resource calculated by Shell Canada Resources Ltd. ("Shell") in 1981 is a historical resource and does not meet National Instrument 43-101 standards and as such can not be relied upon. The Company's Qualified Person, John Kowalchuk, P. Geo., has not reviewed the calculation for the historical resource; however, believes that it has been calculated by competent engineers to the standards of the period. The historical resource estimate was based on 86 drill holes, covering an approximate 1000-metre (3,280 feet) strike length, over a 300-400 metre (980-1,310 feet) width and to a vertical depth of 150 metres (492 feet).

As recently announced, the Company has retained Watts, Griffis and McOuat, Geological Engineering Consultants, to construct a deposit model and to calculate an NI 43-101 compatible resource for the Storie property. Following the resource calculation, Watts, Griffis and McOuat have also been engaged to complete a scoping study for the Storie project. The scoping study will help guide the Company's exploration of the Storie project towards full feasibility. The scoping study is scheduled to be completed by April/May 2007.

John Kowalchuk, P. Geo., has reviewed this release and is the Qualified Person for the Storie molybdenum property project.

Columbia Yukon Explorations Inc.

Ronald A. Coombes, President

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

Contact Information

  • Columbia Yukon Explorations Inc.
    Mr. Clive Shallow
    Investor Communication
    (604) 922-2030