Yellowhead Mining Inc.
TSX VENTURE : YMI

Yellowhead Mining Inc.

January 31, 2011 09:15 ET

Yellowhead Mining Advances the Environmental Assessment Process

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 31, 2011) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Yellowhead Mining Inc. (TSX VENTURE:YMI) is pleased to report that an Updated Project Description for the Harper Creek copper-gold-silver project has been filed with British Columbia's Environmental Assessment Office (EAO). The document is available on the EAO website at: http://a100.gov.bc.ca/appsdata/epic/documents/p333/1295903690301_5aa204813a3a28bbaad434d7890ebbdd62ee07f028154720b0c5f52e258d5011.pdf and on the Company's website at: http://www.yellowheadmining.com/s/Reports.asp.

The Project is currently in the Pre-Application Phase of the British Columbia Environmental Assessment Process. To date the EAO has issued a Section 10 order confirming that the proposed project is reviewable as well as a Section 11 order specifying the scope, procedures, and methods by which a review must be conducted. The YMI team is currently working with provincial and federal regulators (Canadian Environmental Assessment Agency and the Major Projects Management Office) to develop Application Information Requirements (AIR) for the Project which is the next step in the Environmental Assessment (EA) process. This document will outline the specific information that must be included in the application for an EA certificate. 

Baseline work has been ongoing on site since the summer of 2007 and includes the following areas; meteorology (climate station; snow survey); surface water quality; hydrology (flow monitoring); wildlife surveys including winter tracking survey, mammals, breeding bird surveys, raptor surveys, harlequin duck survey, and amphibian surveys; vegetation surveys including rare plants; fish and fish habitat, including evaluation of benthic invertebrates. 

The environmental assessment studies have been performed for YMI by Dillon Consulting Limited under the supervision of one of their Partners, Richard Pope.

About Yellowhead Mining Inc.

Yellowhead has a 100% interest in the Harper Creek Project subject to the payment of a royalty capped at $2.5 million, adjusted for inflation, on claims within the NI 43-101 resource and a further 2.5% NSR royalty on approximately 3.3 million tonnes of ore projected to be mined late in the project's life. The Harper Creek Project is a large copper-gold-silver project located in south-central British Columbia, approximately 150 kilometers by highway from Kamloops.

Forward-Looking Statements

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, including, among others, the accuracy of mineral grades and related assumptions, inherent operating risks, planned expenditures, proposed exploration and development at the Harper Creek Project, operating and economic aspects of the Harper Creek Project, as well as those risk factors identified in the Filing Statement filed under the Company's SEDAR profile. Yellowhead undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Yellowhead.

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 news release.

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