West Vancouver, British Columbia – Columbia Yukon Explorations Inc. (the “Company” or “Columbia Yukon”) is pleased to announce that, further to its news release dated July 6, 2010, Columbia Yukon has closed its non-brokered private placement (the “Private Placement”). The Company has raised $372,000 by the issuance of 3,100,000 non-flow through units (the “Units”) at a price of $0.12 per Unit. Each Unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of $0.12 for a period of five years from the closing date. All of the securities issued pursuant to this Private Placement are subject to a hold period expiring on November 21, 2010. The Units subscribed for in this Private Placement were acquired by directors and senior officers of the Company.
The Company intends to use the proceeds from the Private Placement for general working capital purposes and for furthering the exploration of the Company’s Storie Property molybdenum project.
About Columbia Yukon Explorations Inc.
Columbia Yukon is a Canadian mineral exploration company focused on the development of its Storie Property molybdenum deposit situated about 6 km southwest of Cassiar, British Columbia. The Storie Property molybdenum deposit has an April 2009 updated NI 43-101 compliant Measured and Indicated Resource of 139.82 million tonnes grading 0.064% Mo (at a cut-off of 0.030% Mo) and 58.39 million tonnes of Inferred Resource grading 0.059% Mo (at a cut-off of 0.030% Mo). Cassiar, British Columbia is located 15 km by road west of Highway 37 which connects 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.
“Douglas L. Mason”
_________________________________
Douglas L. Mason, Director
Neither the 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. |
