SOURCE: Yale Resources Ltd.

December 14, 2006 14:02 ET

Yale and Partner IMPACT Silver Add New Property to the Zacatecas Venture -- Field Work Started

VANCOUVER, BC -- (MARKET WIRE) -- December 14, 2006 -- Yale Resources Ltd. (TSX-V: YLL) (FRANKFURT: YAB) is pleased to announce that a new concession has been added to the Zacatecas Venture -- this brings the number of properties that make up the Zacatecas Venture to four. In addition the Company is pleased to report that field work has started on the properties.

Yale's partner for the Zacatecas Venture, IMPACT Silver Corp. (TSX-V: IPT), has purchased a 100% interest in the Zacatecas concession, which is contiguous with the Salvador concession. The concession covers part of a vein system parallel to the Salvador vein system that extends onto the neighbouring Salvador concession. A preliminary investigation of the concession has identified twin shafts that are at least 40 m deep. Beside the shafts is a mine dump that is estimated to be at least 2,000 tonnes in size.

A sample of selected vein material from this dump assayed 660 g/t silver. Additional sampling is required to properly assess the size and grade of this large dump and the associated mine workings at depth but initial indications are that the portion of the parallel vein within the Zacatecas Concession has considerable potential.

The deal:

Yale has the opportunity to earn up to 80% in the Zacatecas concession under the same terms as the Salvador, San Jose and the San Sabino concessions. To earn 65% in the property Yale must reimburse IMPACT the purchase price of the property and spend a minimum of US $100,000 on exploration (including a minimum of 500 metres of drilling) within 18 months. To earn an additional 15% -- for a total of 80% -- the Company will then have to pay US $125,000 in either cash or stock. As the Zacatecas property is contiguous with the Salvador claim, the commitments for the two properties may be pooled in order to earn the interest in both properties.

Fieldwork underway:

An independent geological team has commenced field work on the four properties. This program is expected to take several weeks and will involve geological mapping and detailed sampling of the historic workings as well as the run of mine dumps that occur throughout the properties. This work program will result in the recommendation of drill targets.

Ian Foreman, P.Geo., President of Yale, is a Qualified Person, as defined by National Instrument 43-101, for the Zacatecas Venture. In addition, George Gorzynski, P.Eng., Vice President of Exploration for IMPACT Silver Corp., who is responsible for all of IMPACT's technical programs, has reviewed this news release. Samples were tagged for identification after collection and securely stored at the IMPACT base camp until shipment. A total of 5% assay standards and 5% blanks were inserted into every sample shipment as a quality control measure. All samples were shipped to the ALS Chemex preparation laboratory in Guadalajara (Mexico) where they were fine crushed, pulverized and a pulp split separated for assay by a riffle splitter. These pulps were then shipped to the ALS Chemex laboratory in North Vancouver, Canada where a 30 gram split of each was assayed for gold and silver by standard fire assay and a 10 gram split was analysed for an additional 30 elements by ICP spectrometry.

About Yale Resources:

Yale Resources is a growth oriented company that is aggressively exploring an expanding portfolio of Mexican properties. With the purchase of a 100% interest in the Carol Property, Yale has transitioned into a Project Generator and will continue to seek additional opportunities in Mexico. Yale plans on having a majority of its projects advanced to the drill stage during 2007.

On behalf of the Board,

"Ian Foreman"
Ian Foreman, P.Geo.
For Investor Relations please call Contact Financial at 604-689-7422.

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.

Yale Resources Ltd.
600 - 890 West Pender St.
Vancouver, B.C.
V6C 1K4, Canada
Phone: 604-678-2531
Fax:   604-678-2532
News Release #06-26

Contact Information

  • Investor Relations:
    Contact Financial

    Yale Resources Ltd.