Yellowhead Mining Inc.
TSX VENTURE : YMI

Yellowhead Mining Inc.

November 18, 2010 08:55 ET

Yellowhead Mining Inc. Commences Trading on the TSX Venture Exchange and Provides an Update on the Harper Creek Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2010) - Yellowhead Mining Inc. (TSX VENTURE:YMI) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

TSX Venture Exchange Approval

Yellowhead Mining Inc. ("Yellowhead" or the "Company") is pleased to announce that, further to the Company's news release dated November 10, 2010 announcing the completion of the Qualifying Transaction, the TSX Venture Exchange Inc. (the "Exchange") has issued its Final Exchange Bulletin and the Company's common shares commenced trading under the symbol "YMI" on November 17, 2010.

Update on the Harper Creek Project

Yellowhead has commenced a 4,000 meter drilling program designed to expand the current open pit resources, which is expected to be completed mid-January 2011. This program is being managed by CME Consultants Inc. ("CME"). CME is also completing the logging of historical core from the earlier Noranda and US Steel drilling programs conducted in the late 1960s and early 70s.

Klohn Crippen Berger ("KCB") is conducting geotechnical and hydrogeological studies including pit slope and tailings dam design, ground water studies and other studies relating to environmental assessment.

Dillon Consultants continue to advance the Environmental Assessment Process with the B.C Provincial Environmental Assessment Office and the Canadian Environmental Assessment Agency. 

Wardrop Engineering is progressing on schedule with the Preliminary Economic Assessment (the "PEA"), which is due for delivery by December 15, 2010. The PEA will be based on a mill throughput of 70,000 metric tons/day, utilizing 42m3 electric-hydraulic shovels and 240t to 320t haul trucks. The process plant consists of a single processing line incorporating primary crushing, and a SAG mill - ball mill circuit, followed by conventional froth flotation to produce a filtered flotation concentrate which will be trucked to a rail siding near the town of Vavenby (about 20km) for rail transportation to the port of Vancouver. 

The Company has also entered into a Negotiation Agreement with Chief Keith Matthew of the Simpcw First Nation, who have administrative offices in Chu Chua, British Columbia. The agreement sets out the negotiation principles and objectives to achieve a long-term definitive Accommodation Agreement.

Investor Relations

Yellowhead attended the Canadian mining trade mission to Hong Kong and Beijing from November 9 – 17, 2010, and the China Mining Show in Tianjin November 16 – 18, 2010. Yellowhead will have a booth at the Mines and Money Show in London November 30 and December 1, 2010. A road show in Europe will be conducted around the time of the London show. An active investor relations program including trade and investment shows, road shows and media programs is being rolled out to support the public listing.

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. The Harper Creek Project is a large copper-gold-silver project located in south-central British Colombia, 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 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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