VANCOUVER, BC--(Marketwire - June 5, 2008) - Yale Resources Ltd. (TSX-V: YLL) is pleased to report gold and multi-ounce silver values over significant widths from the first two holes of the recently completed drill program at the Cerro Colorado Target, Urique North, Mexico.
Drilling at Cerro Colorado has intersected the target breccia over widths of several metres in each of nine holes, totalling 1,353 metres, at vertical depths ranging from 10 metres to approximately 150 metres over approximately 2.0 km of strike length. Assays from the first two holes, located at the northern end of the Cerro Colorado target are tabled below. Assays from holes three to nine will be reported when received.
--------------------------------------------------------------------------- Hole From To Width 1 Au Ag Ag Equiv. 2 Ag Equiv. 2 (m) (m) (m) (g/t) (g/t) (g/t) (Oz/t) --------------------------------------------------------------------------- UCC-08-01 50.00 56.00 6.00 0.23 82.6 93.94 3.02 --------------------------------------------------------------------------- including: 52.00 54.00 2.00 0.15 122.5 130.03 4.18 --------------------------------------------------------------------------- UCC-08-02 50.80 58.00 7.20 0.18 95.8 104.9 83.38 --------------------------------------------------------------------------- including: 50.80 54.00 3.20 0.36 118.0 136.01 4.37 ---------------------------------------------------------------------------
1 -- Drill holes were planned to cut the mineralization as close to perpendicular as possible, however, true widths have not been calculated
2 -- Silver equivalent has been calculated using $750/oz gold and $15/oz silver (or a ratio of 50:1) and assumes recovery and NSR to be 100%
"These results are an excellent start to our drilling program as we've now shown that mineralization occurs over significant widths and that the northern end of the system has the potential to host a bulk tonnage silver/gold target," stated Ian Foreman, P.Geo., president of Yale Resources, "These results compare very favourably with those of many deposits in this part of the Sierra Madre Precious Metal Belt."
For a plan map showing the location of the drill holes please visit the Company's website at: http://www.yaleresources.com/i/maps/... . Yale has the right to earn a 75% interest in the over 290 square kilometre Urique Project from partner EXMIN Resources Inc.
Samples were prepared and analyzed by ALS Chemex in their facilities in Mexico and Vancouver, respectively. Samples generally consisted of 1-3 kg of material. Gold analyses were performed by 30 gram fire assay with an AA finish. Silver was originally analyzed as part of a multi-element ICP package using an aqua regia digestion. Drill samples with anomalous silver values were re-analyzed using a 4 acid "total" digestion and AA.
Ian Foreman, P.Geo., is Yale Resources' Qualified Person, as defined by National Instrument 43-101, for the Urique Project. Dr. Craig Gibson, PhD., Certified Professional Geologist, and Executive Vice President of Exploration, the authorized professional geologist for EXMIN Resources Inc. and the direct manager of all technical programs and information on the part of EXMIN has reviewed this news release.
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.
The TSX Venture Exchange has not reviewed and does not accept 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.
