Yankee Hat Minerals Ltd.

Yankee Hat Minerals Ltd.

October 30, 2006 20:10 ET

Yankee Hat Announces Additional Flow-Through Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 30, 2006) - Yankee Hat Minerals Ltd. (the "Company") (TSX VENTURE:KHT) announces that it has negotiated, subject to regulatory approval, a private placement of up to 700,000 flow-through units ("FT Units") at a price of $0.18 FT Unit, each FT Unit consisting of one flow-through common share (the "FT Shares") and one non flow-through share purchase warrant ("Warrants"), each Warrant entitling the holder thereof to purchase an additional non flow-through common share (the "Warrant Shares") of the Company at $0.30 per share for 12 months after the date of issuance of the Warrants, and thereafter at a price of $0.40 per share until a period of 24 months

The proceeds of this financing will be used solely for exploration and development of the Company's mineral properties in British Columbia.


Donald Gee C.A., Chairman and Director

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.

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