Yankee Hat Minerals Ltd.
TSX VENTURE : KHT

Yankee Hat Minerals Ltd.

November 23, 2006 16:04 ET

Yankee Hat Increases Size of Flow Through Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 23, 2006) - Yankee Hat Minerals Ltd. (the "Company") (TSX VENTURE:KHT) announces that further to its news release of October 30, 2006, the private placement announced on that date has been increased from up to 700,000 flow-through units to up to 1,500,000 flow-through units ("FT Units") at a price of $0.18 per FT Unit, each FT Unit consisting of one flow-through common share and one non flow-through share purchase warrant ("Warrants"). Each Warrant shall entitle the holder thereof to purchase an additional non flow-through common share of the Company at $0.30 per share for a period of 12 months from the date of issuance of the Warrants, and thereafter at a price of $0.40 per share for a period of 24 months from the date of issuance of the Warrants. Finder's fees in connection with the placement will be paid. This placement remains subject to regulatory approval.

The proceeds of this financing will be used solely for exploration and development of the Company'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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