Yale Terminates Agreement for Carol Property

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Yale Terminates Agreement for Carol Property

posted on Dec 21, 2011 03:43PM

nlk

FSC / Press Release

Yale Terminates Agreement for Carol Property

Vancouver, British Columbia CANADA, December 21, 2011 /FSC/ - Yale Resources Ltd. (YLL - TSX Venture, YAB - FSE, YRLLF - OTC Pink), has terminated the option agreement for the Carol Property with El Condor Resources Inc. (LCO.V) as certain financial milestones in the agreement were not met.

As a result of not completing the obligations, the property remains 100% owned by Yale. The Company will re-compile the data for the Carol Property and look for a new optionee for the property in the New Year.

Corporate Update:

The Company wishes to report the resignation of Luca Riccio as director. Dr. Riccio was a director of the Company since 2003 and has decided to pursue other opportunities. The Company would like to thank Dr. Riccio for his years of service as he was instrumental in helping Yale during its initial exploration campaigns in Mexico.

About Yale Resources:

Yale Resources utilizes the project generator business model to maximize its exposure to discovery while minimizing shareholder risk. Yale currently has eight projects in its portfolio of which five are optioned out with commitments totalling approximately $1.3 M in expenditures during the next 12 months. At the same time Yale continues to work on its non-optioned properties as well as reviewing new projects.

On behalf of the Board,

"Ian Foreman"

Ian Foreman, P.Geo.

President

For additional information on Yale Resources please call the Company at 604-678-2531

Neither 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 release.

Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

To view this release as a web page, please click on the following link:

>http://www.yaleresources.com

Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com

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