Vancouver, May 22, 2008 – Yankee Hat Minerals Ltd. (TSX-V: KHT) (the “Company”) announces that it intends to complete a non-brokered private placement, subject to regulatory approval, to raise up to $1,350,000 by the issuance of up to 9 million flow through common shares at a price of $0.15 per share (the “Offering”).

The Company intends to use the net proceeds from the financing for exploration expenses on the Company's projects and general and administrative expenses. Finder’s fees may be paid in connection with the Offering.

This financing will be used to further the Company’s strategy of acquiring advanced stage exploration projects, focusing on minerals that have strong underlying commodity price fundamentals.

ON BEHALF OF THE BOARD OF DIRECTORS
“Cale Thomas”
Cale Thomas
Chief Financial Officer

For further information, please contact:
Brad Kitchen at 604.637.3114 or Gus Garisto, Bay Street Connect at 416.805.3106

This news release has been prepared by management. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company’s
control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or achievements implied by these forward looking statements. We seek safe harbour.