Yellowhead Mining Inc.

Yellowhead Mining Inc.

November 10, 2010 19:03 ET

Yellowhead Mining Inc. Announces Completion of Four Points Capital Corp.'s Qualifying Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2010) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Further to its press releases dated June 18, 2010, August 16, 2010, September 30, 2010 and November 4, 2010, Four Points Capital Corp. ("Four Points") (TSX VENTURE:FPA.P) announces that it has completed the amalgamation of its wholly-owned subsidiary, 0887988 B.C. Ltd. with Yellowhead Mining Inc. ("Former Yellowhead"). The subsidiary company is now known as Harper Creek Mining Corp. ("Harper Creek Mining") and Four Points has changed its name to Yellowhead Mining Inc. ("Yellowhead").

The acquisition (the "Acquisition") by Four Points of all of the issued and outstanding shares of Former Yellowhead, was formalized in an Agreement to Amalgamate between Four Points, 0887988 B.C. Ltd. and Former Yellowhead dated as of August 13, 2010. Conditional approval of the transaction by the TSX Venture Exchange (the "Exchange") has been received, with the Acquisition constituting Four Points' Qualifying Transaction. As a result of the completion of the Acquisition, Four Points will cease to be a capital pool company, and its common shares will resume trading on the Exchange as a "Tier 1 Mining Issuer" under the new stock symbol "YMI".

Pursuant to the Acquisition, the previous directors of Four Points have resigned and the new Board of Directors is comprised of R. Stuart (Tookie) Angus, David Dickens, Andy Graetz, Greg Hawkins, and Ian Smith. Also, Four Points' former auditor DeVisser Gray LLP has resigned and SmytheRatcliffe LLP, the auditor for Former Yellowhead since its inception, has been appointed as auditor. Officers of Yellowhead and Harper Creek Mining are now Ian Smith, Chief Executive Officer and Robert Harper, Chief Financial Officer.

The Acquisition was an "Arm's Length Transaction" within the meaning of the Exchange policies and did not require approval of Four Points' shareholders.

Former Yellowhead was a private British Columbia company that has been conducting mineral exploration at the Harper Creek Project since its incorporation in 2005. Additional information regarding the business and assets of Former Yellowhead, which are now the business and assets of Yellowhead, is set forth in Four Points' Filing Statement dated September 29, 2010, a copy of which has been filed on SEDAR at www.sedar.com.

Ian Smith, Chief Executive Officer of Yellowhead Mining Inc. said, "We are looking forward to further exploration at the Harper Creek Project and advancing the project through development milestones. With the success of our recent equity financing of $8.07 million, we plan to complete the Preliminary Economic Assessment, advance drilling, metallurgical testing, environmental assessment, geotechnical work and First Nations and community engagement."

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. Four Points 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 Four Points.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. 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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