VANCOUVER, BRITISH COLUMBIA--(March 11, 2009) - Yankee Hat Minerals Ltd. ("Yankee Hat" or the "Company") (TSX VENTURE:KHT) The Company has reached an agreement to issue a total of 6,812,000 shares at the deemed price of $0.05 per share to settle a debt owned to a Non Arm's Length Party, as defined in TSX Venture Exchange (the "Exchange") policy. The aggregate amount of the debt being settled is $340,600. This debt was incurred through the assumption of a three year exploration program conducted in the Yukon Territory. The shares for debt transaction is a Non Arm's Length Transaction, as the Company and the creditor share a common director and officer.

Following completion of this transaction, Yankee Hat will have 77,354,538 common shares issued and outstanding.

This transaction is subject to approval by the Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS

P. Bradley Kitchen, President, CEO, and Director

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.

FOR FURTHER INFORMATION PLEASE CONTACT:

IR Pro Communications (Vancouver)
Nance Massicotte
Investor Relations
(604) 507-3377 or Toll Free: 1-866-503-3377

Email: nance@irprocommunications.com

or

AGORACOM Investor Relations
Email: KHT@agoracom.com