Yellowhead Mining Inc.
TSX VENTURE : YMI

Yellowhead Mining Inc.

April 19, 2011 15:15 ET

Yellowhead Mining Announces the Granting of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 19, 2011) - Yellowhead Mining Inc. (TSX VENTURE:YMI) ("Yellowhead" or the "Company") today announced that pursuant to its stock option plan and subject to regulatory approval, it has granted an aggregate of 1,530,000 options to directors, officers, employees and consultants of the Company. The stock options have an exercise price of $1.25 per share, will vest according to schedules set by the Board of Directors and are exercisable for a period of five years. Of these stock options, 5,000 were granted to an optionee performing investor relations activities for the Company. Pursuant to TSX-V policies, such options will vest in stages over 12 months with no more than ¼ of the options vesting in any three month period.

About Yellowhead Mining Inc.

Yellowhead has a 100% interest in the Harper Creek Project, (subject to the payment of a 3% NSR royalty capped at $2.5 million, adjusted for inflation and an additional 2.5% NSR royalty on an estimated 3.3 million tonnes of ore which is expected to be mined beginning in year nine within the NI 43-101 resource). The Harper Creek Project is a large copper-gold-silver project located in south-central British Columbia, approximately 150 kilometres 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 Inc. 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.

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