Yankee Hat Minerals Ltd.
TSX VENTURE : KHT

Yankee Hat Minerals Ltd.

December 06, 2006 16:22 ET

Yankee Hat Closes CDN$250,829.90 Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 6, 2006) - Yankee Hat Minerals Ltd. (the "Company") (TSX VENTURE:KHT) announces that further to its news releases of October 30, 2006 and November 23, 2006, the Company has now closed a non-brokered private placement of 1,393,501 units ("Unit") at $0.18 per Unit for gross proceeds of $250,829.90. Each Unit consists of one common share of the Company ("Share") and one share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to purchase one additional Share (a "Warrant Share") of the Company at a price of $0.30 per Warrant Share up to and including December 5, 2007 and thereafter at an exercise price of $0.40 per Warrant Share up to and including December 5, 2008. The Company has paid a total of $13,085.79 in cash as finders fees.

All Shares issued pursuant to this private placement together with any Shares issuable on the exercise of the Warrants have a hold period expiring April 6, 2007. The proceeds of the financing will be used solely for exploration and development of the Issuer's mineral properties in British Columbia.

ON BEHALF OF THE BOARD

Donald Gee, 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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