Yankee Hat Minerals Ltd.
TSX VENTURE : KHT

Yankee Hat Minerals Ltd.

March 23, 2011 11:12 ET

Yankee Hat Minerals Intersects 11.95 g/t Gold Over 1.05 Meters at the Fran Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 23, 2011) - Yankee Hat Minerals Ltd. ("Yankee Hat" or the "Company") (TSX VENTURE:KHT) is pleased to provide results from the remaining holes from its eight hole winter drill program at the Fran Property, located in central British Columbia (the "Fran Property"). The Company has received all the assays for all eight holes confirming the extensions of the known gold zones at depth over 700 meters of strike-length.

This winter's drill program at the Fran Property consists of the first new holes drilled on the project since 2007, and the assay results confirm the continuity of gold mineralization below historical drilling. Highlights of the drill results include 9.93 g/t Au over 0.70m and 8.7 g/t Au over 0.71m in hole FR-10-084, 11.95 g/t Au over 1.05m in hole FR-10-086, and 4.43 g/t Au over 1.00m in hole FR-10-087.

"These results demonstrate the continuity of the gold mineralization over a strike length of more than 700 meters and a depth of at least 220 meters," David Matousek, President of Yankee Hat comments. "The gold zones drilled so far represent only a small portion of the large Fran property. Additional indications of gold mineralization further to the east on the property will be investigated during the summer field program."

The table shows the most material assay results from the drill program:

  Section From To Length Au  
Drill Hole (m) (m) (m) (m) (g/t) Other
FR-10-080 1675 313.33 314.00 0.67 4.70 45.7 g/t Ag
FR-10-081 1525 87.87 90.30 2.43 6.47  
FR-10-082 1425 149.50 150.20 0.70 9.93  
FR-10-084 1900 126.19 126.90 0.71 8.70 1.14% Zn
FR-10-084 1900 188.35 189.30 0.95 4.87 0.74% Zn
FR-10-084 1900 215.70 216.40 0.70 5.72 26.6 g/t Ag
FR-10-086 1325 46.65 47.70 1.05 11.95  
FR-10-087 1475 125.70 126.70 1.00 4.43  

Note: True width represents approximately 75 percent of reported length.

The drill program tested the extensions of five of the mineralized gold zones identified so far on the property. The gold mineralization is hosted into a series of sub-vertical, northwest trending, structures containing quartz veining and significant pyrite. Assay results from previous drill programs testing the structures include high grade values such as 27.1 g/t Au over 1.3 (FR-07-071), 32.49 g/t Au over 2.1 m (FR-07-074), 17.03 g/t Au over 2.4 m including 25.2 g/t Au over 1.36 m (FR-05-048), 9.43 g/t Au over 8.24 m including 87.97 g/t Au over 0.52 m and 13.86 g/t Au over 0.9 m (FR-06-055).

Jean-Philippe Desrochers, Ph.D., P.Geo., is a qualified person registered in Ontario and Quebec as defined by NI-43-101 and has reviewed the technical information that this news release contains.

Gold analyses reported in this release were performed by standard fire assay using a 30g charge with atomic absorption finish and a gravimetric finish for assays greater than 1 g/t. Assays returning results over 1 oz/t gold by atomic absorption are re-assayed using metallic sieve method. All assays were performed by ALS Canada Laboratory, in North Vancouver, British Columbia. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QA-QC program, includes duplicate samples, blanks and analytical standards.

About the Fran Property
The Fran property is located in central British Columbia approximately 60 kilometres north of the city of Fort St. James. The region is well known for its abundance of large scale deposits and mines, most notably the Mount Milligan deposit which is located 30 kilometres northeast of the property and the Kemess South mine located approximately 250 km to the north. The original Fran property consisted of eight mineral claims covering approximately 4,000 hectares. Staking to the east, south and west has expanded the property to 10,200 hectares in area.

About Yankee Hat Minerals Ltd.
Yankee Hat Minerals Ltd. is a publicly held resource exploration company that utilizes its management's expertise in mineral exploration and evaluation, and financial acumen, to identify, acquire, and develop mineral prospects in mining friendly jurisdictions with the potential to host large-scale discoveries. The company strategically focuses on commodities that have strong underlying price fundamentals such as gold and precious metals, rare earth elements and tungsten. The Company's website at www.yankeehatminerals.com and public filings at www.sedar.com provide additional information on its projects and other information with respect to its management and operations.

This press release is not an offer of securities for sale in the United States. The common shares being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to an exemption from the registration requirements of that Act.

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Eagle Hill Exploration Corp. Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially.

ON BEHALF OF THE BOARD

P. Bradley Kitchen, Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information