150 Metre Step Out At Storie Deposit Hits 144 metres Grading 0.095% Moly!

West Vancouver, British Columbia – January 14, 2009 – Columbia Yukon Explorations Inc. (the “Company” or “Columbia Yukon”) is extremely pleased to announce additional assay results from the Company’s “Storie” property molybdenum deposit located near Cassiar in northern British Columbia.

Eight additional drill holes (ST08-130, 131, 132, 133, 134, 135, 136 and 137) were completed during the Company’s 2008 drilling program and all eight intersected significant molybdenum mineralization (five of which holes are located outside of the known NI 43-101 resource).

Drill hole ST08-130 (located 150 metres west of the known Indicated resource) intersected 423 metres grading 0.057% Mo, including 144 metres grading 0.095% Mo;

Drill hole ST08-131 (located 50 metres west of the known Indicated resource) intersected 123 metres grading 0.059% Mo, including 12 metres grading 0.117% Mo;

Drill hole ST08-132 (an infill hole designed to reclassify the known deposit from an Indicated category to a Measured category, and located on the southern most edge of the Indicated resource) intersected 143 metres grading 0.055% Mo;

Drill hole ST08-133 (located 150 metres west of the known Indicated resource on the southern most edge of the deposit) intersected 204 metres grading 0.034% Mo, including 81 metres grading 0.043% Mo;

Drill hole ST08-134 (located 50 metres west of the known Indicated resource on the southern most edge of the deposit) intersected 37 metres grading 0.059% Mo;

Drill hole ST08-135 (an infill hole designed to reclassify the known deposit from an Indicated category to a Measured category) intersected 368 metres grading 0.051% Mo, including 154 metres grading 0.081% Mo and 65 metres grading 0.117% Mo;

Drill hole ST08-136 (an infill hole designed to reclassify the known deposit from an Indicated category to a Measured category) intersected 308 metres grading 0.071% Mo, including 225 metres grading 0.086% Mo and 78 metres grading 0.126% Mo;

Drill hole ST08-137 (located 100 metres west of the known Indicated resource) intersected 276 metres grading 0.054% Mo, including 36 metres grading 0.097% Mo and 141 metres grading 0.067% Mo.

A total of 49 drill holes were completed by Columbia Yukon in its 2008 drilling program on the Storie property. To date, assay results have been received and reported for 42 drill holes. The assay results for the remaining 7 drill holes will be reported by the Company as they are received and analyzed.

The assay results for the eight drill holes referred to above are as follows:

  *conversion factor: 1% MoS₂ = 0.5999% Mo

The current NI 43-101 Mineral Resource estimate report, as prepared by Watts, Griffis and McOuat Limited, Consulting Geologists and Engineers of Toronto, Ontario (“Watts Griffis”), and Mintec, Inc. of Tucson, Arizona (“Mintec”), has been prepared in compliance with NI 43-101 and presents a review of the geology and Mineral Resources of Columbia Yukon’s Storie property molybdenum deposit. The Company has filed the NI 43-101 report on www.SEDAR.com  and on its website at www.columbiayukon.com. The assay results from the Company’s 2008 drilling program are being reviewed and analyzed by Watts Griffis and Mintec in connection with the preparation of a further updated NI 43-101 report, the results of which will be announced by the Company when completed.

All of the above holes were drilled using hydraulic drills producing NQ size core.  Most of the core was sawn in half by a diamond bit rock saw and half of the core was retained and stored in the core box for permanent record or later reference.  The other half was bagged and sent to Loring Labs of Calgary, Alberta, where it was crushed and pulverized.  A one gram sample was then split out and dissolved in a four acid complete dissolution and analyzed for molybdenum using an “AA” (atomic absorption) finish.  In addition to both Loring Labs’ and Columbia Yukon's internal QA/QC, every 20th sample reject pulp is being sent to Acme Analytical Laboratories of Vancouver, B.C. for inter-laboratory analysis. With the core that was not split, such core was from certain infill drill holes that were surrounded by split core holes. This measure was taken to confirm the Company’s core handling procedure and to determine whether a variance exists between the assay results from such core samples.

This news release has been reviewed and approved by Mr. Arnold Pollmer, P.Geo., who is acting as the Qualified Person for the Company’s Storie molybdenum project in accordance with regulations under NI 43-101.

About Columbia Yukon Explorations Inc.:

Columbia Yukon is a Canadian mineral exploration company focused on the development of its Storie property molybdenum deposit. The Storie property is situated about 6 km southwest of Cassiar, British Columbia. Cassiar is located 15 km (by road) west of Highway 37, which provides access to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south.

For further information, contact Mr. Clive Shallow, investor communications at 604-922-2030 or visit the Company’s website at www.columbiayukon.com.
 

Columbia Yukon Explorations Inc.

“Ronald A. Coombes”

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Ronald A. Coombes, President & CEO

The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy this release.