YOUNG-SHANNON GOLD MINES, LIMITED
TSX VENTURE : GYS

YOUNG-SHANNON GOLD MINES, LIMITED

October 21, 2005 16:01 ET

Young-Shannon Not to Proceed With La Cucharas, Mexico Option Agreement

TORONTO, ONTARIO--(CCNMatthews - Oct. 21, 2005) - Young-Shannon Gold Mines, Limited (TSX VENTURE:GYS) ("Young-Shannon") announces that it will not be proceeding with the Option Agreement with MacMillan Gold Corp. pertaining to the La Cucharas property in Nayarit State, Mexico.

Young-Shannon is continuing with its campaign of identifying and acquiring quality mineral properties on an on-going basis within its current portfolio to increase shareholder value.

Young-Shannon Gold Mines, Limited is a precious metals exploration company which holds a group of 11 patented and 19 unpatented claims within Chester Township located west of Highway 144 midway between Sudbury and Timmins, Ontario. It also has an option to earn a 60 % interest in the McMillan Gold Mine property, located 75 kilometres southwest of the Greater City of Sudbury. The Company has 21,088,825 common shares outstanding and 27,774,324 shares on a fully diluted basis and is listed on the TSX Venture Exchange under the symbol GYS.

Further details may be obtained from our website: www.youngshannon.com

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgment, they are subject to a variety of risks and uncertainties that are beyond the company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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