Yankee Hat Minerals Ltd.
TSX VENTURE : KHT

Yankee Hat Minerals Ltd.

March 31, 2006 10:30 ET

Yankee Hat Announces $1M Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 31, 2006) - YANKEE HAT MINERALS LTD. (the "Company") (TSX VENTURE:KHT) is pleased to announce that it is negotiating a non brokered private placement of up to 6,666,667 Million units at $0.15 per unit for gross proceeds of up to $1 M. Each unit will consist of one common share and one half share purchase warrant entitling the holder of each whole warrant to purchase one additional share of the Company at $0.30 within 6 months from closing. Finders' fees will be paid in accordance with regulatory policy. The placement is subject to regulatory approval. The net proceeds will be used to fund continuing drilling and exploration on its gold and uranium exploration properties and general working capital.

About Yankee Hat Minerals Ltd.

The Company is actively exploring the Fran Property, a gold property near Placer Dome's Mt. Milligan deposit in central British Columbia; and the Shanghai Creek Project, a gold target within the Tintina Gold Belt - near Stratagold's Aurex and Dublin Gulch projects in the Yukon Territory. In addition the Company has two uranium projects, the Thelon Basin Property located in Northern Saskatchewan and the Lever Lake IOCG property in NWT.

ON BEHALF OF THE BOARD

Donald Gee C.A., President and Chief Executive Officer

This news release has been prepared by management. This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or achievements implied by these forward looking statements. We seek safe harbor.

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

Contact Information

  • Yankee Hat Minerals Ltd.
    Donald Gee
    President and Chief Executive Officer
    (604) 618-3433
    (604) 291-9926 (FAX)
    www.yankeehatminerals.com