SOURCE: Yale Resources Ltd.

October 26, 2006 13:30 ET

Two Drill Ready Targets Added to the Urique Project, Mexico

VANCOUVER, BC -- (MARKET WIRE) -- October 26, 2006 -- Yale Resources Ltd. (TSX-V: YLL) and (FRANKFURT: YAB) is pleased to announce the addition of 4 concessions that cover approximately 153 hectares to the Urique Project, located in the prolific Sierra Madre gold belt, northern Mexico. Yale is earning a 75 % interest in the Urique Project from EXMIN Resources (TSX-V: EXM). The new concessions contain historic production from two different locations. Samples taken from these old workings have yielded significant gold values in several exposures with individual rock chip samples returning as much as 15.3 grams per tonne over 1.3 metres. Two additional concessions covering an additional 123 hectares are also now under agreement and may be added pending verification of title. This increases the land package at Urique to 29,167 hectares (72,073 acres) or 290 square kilometres.

The Cerro Colorado mineralized zone is located approximately 23 kilometres southeast, and along the regional trend, from the Monterde Project being explored by Kimber Resources and has reported resources of 800,000 ounces of gold and 45,000,000 ounces of silver.

"The addition of these concessions is a very important part of Yale's plan for the Urique property as this adds two zones that can be fast tracked to the drill stage," stated Yale president Ian Foreman, P.Geo.

Underlying these concessions, collectively called the Cerro Colorado area, is a structurally controlled gold and silver bearing breccia that has been traced on surface for approximately 2.5 km. Two zones, El Vergel and Mina Guadalupe, which each have shallow small-scale workings, are located in two separate river drainages located approximately 2 km apart. There has been no drilling performed, to date, in this area.

An initial EXMIN sampling program, carried out earlier this year, identified significant gold and silver mineralization locally along the entire 2.5 km length of the Cerro Colorado structure. The known width of the breccia, which appears to be multi-phase in nature, varies from 2 to greater than 25 metres. To date the highest grades have been reported from the core of these zones, however anomalous gold and/or silver occurs throughout. The distribution of gold and silver across the width and, more importantly, down dip of the structure remains to be fully tested.

Exploration program currently underway:

A trenching and mapping program designed to confirm the nature of the mineralization is currently underway at both the Mina Guadalupe and El Vergel areas as all sampling done to date has been limited by exposure. The goal of this sampling program will be to advance the targets to the drill stage rapidly as the partners are planning to drill these targets in early 2007.

Mina Guadalupe:

The mineralized breccia in the Mina Guadalupe area is intermittently exposed. The strongly silicified exposure immediately above the flooded main workings averaged 11.55 g/t gold and 44.3 g/t silver over 2.6 metres. Another chip sample from above a second working, located 50 metres along strike, graded 3.56 g/t gold and 58.3 g/t silver over 2.0 metres. The exploration potential for the area is highlighted by a continuous chip channel sample taken from a road cut located approximately 30 metres vertically above the Mina Guadalupe workings that graded 0.72 g/t gold and 43.7 g/t silver over 17.0 metres.

El Vergel:

Exposure of the mineralized breccia in the El Vergel area has been traced running up the hillside for approximately 200 metres. Sampling from the walls of the old workings are highlighted by 2.23 g/t gold and 150.0 g/t silver over 3.0 metres and 8.00 g/t gold and 41.3 g/t silver over 1.2 metres. As with the Mina Guadalupe area, only the strongly silicified core of the structure is exposed -- the current trenching program will determine the true width of the structure in this area.

About the Urique Project:

The main exploration targets within the Urique Project are large-scale precious metal mineralized systems. The Urique Project contains 7 mineralized targets, which include several historic mines and numerous small-scale workings. The Urique Project is located immediately north of Glamis Gold's El Sauzal property, currently in production and host to over 2 million ounces of gold, and Kimber Resources' Monterde Project, which is host to a reported 800,000 ounces of gold and 45 million ounces of silver.

Ian Foreman, P.Geo., President of Yale, is the Qualified Person, as defined by National Instrument 43-101, for the Urique Project. In addition, Dr. Craig Gibson, PhD., Executive Vice President of Exploration for EXMIN Resources and responsible for all of EXMIN's technical programs, has reviewed this news release.

All of EXMIN's samples were prepared and analyzed by ALS Chemex at their labs in Mexico and Vancouver and generally consisted of 1-3 kg of material. Gold analyses were performed by 30 gram fire assay with an AA finish; one sample with more than 10 g/t gold (over limit) was analyzed using gravimetric methods. Silver was analyzed as part of a multi-element ICP package using an aqua regia digestion; one sample with more than 100 g/t silver (over limit) was analyzed by AA.

On behalf of the Board,

"Ian Foreman"
Ian Foreman, P.Geo.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

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    News Release #06-21