SOURCE: Yale Resources Ltd.

May 09, 2008 15:19 ET

Yale Completes Drill Program and Starts Phase II Work at El Rosario, Urique Project

VANCOUVER, BC--(Marketwire - May 9, 2008) - Yale Resources Ltd. (TSX-V: YLL) and EXMIN Resources Inc. (TSX-V: EXM), the operator of the project, are pleased to report that the drill program at Urique North has been successfully concluded and that a phase II field work program has started at El Rosario -- the high grade silver target in Urique South.

Drilling Successfully Concluded:

A total of 1,706 m was drilled in 11 drill holes. Nine holes were drilled at Cerro Colorado (see news release dated May 01, 2008) and two holes were drilled at San Pedro. The northernmost hole at San Pedro successfully intersected the designated target -- 31 metres of strongly altered andesite hosting a quartz stockwork and numerous veins. All assays are pending.

Fieldwork restarts at El Rosario:

A field crew has returned to the El Rosario target, the recent high grade silver discovery in Urique South, to continue mapping and sampling in preparation for a planned drill program later this year.

This area comprises a zone of strong silicification in andesite host rocks that measures approximately 100 metres wide and over 400 metres long. The zone is host to multiple historic mines and prospects that exploited a system of high grade veins. The target area is open at depth and along strike and has never been drilled.

Sampling has yielded significant values of as much as 8,290.0 g/t (or 241.5 ounces per ton) silver and 10.6 g/t gold from 10-40 centimetre wide veins (see news release February 06, 2008). The host rock also appears to be mineralized as the altered andesite has yielded gold and silver values of as much as 0.3 g/t gold and 5.0 to 41.0 g/t silver suggesting that the El Rosario area has the potential to host a bulk tonnage open pittable resource.

Ian Foreman, P.Geo., is Yale Resources' Qualified Person, as defined by National Instrument 43-101, for the Urique Project.

On behalf of the Board,

"Ian Foreman"
Ian Foreman, P.Geo.
President

For additional information on Yale Resources please call the Company at 604-678-2531.

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.

News Release #08-17

Contact Information

  • Yale Resources Ltd.
    600 - 890 West Pender St.
    Vancouver, B.C.
    V6C 1K4 Canada
    Phone: (604) 678-2531
    Fax: (604) 678-2532