December 2, 1998
Trading Symbol: CYE (ASE)

ALBERTA STOCK EXCHANGE ("ASE-Y")
COLUMBIA YUKON EXPLORATIONS INC ("CYE-Y")
[formerly COLUMBIA YUKON RESOURCES LTD ("CYR-Y") ]
- ASE Bulletin No. 9812-712; Columbia Yukon Consolidation
- and Name Change

The Alberta Stock Exchange announces that at a meeting held on October 2,1998 the shareholders approved a consolidation of the Company's shares on a one (1) new share for seven (7) old shares basis and a change of name of the Company to Columbia Yukon Explorations Inc.

The common shares of Columbia Yukon Explorations Inc. will be posted for trading in substitution of the common shares of Columbia Yukon Resources Ltd. at the opening of business on Friday December 4, 1998.

Stock Symbol: CYE
Security Code: ISM - 170 564
CUSIP Number: 198658 10 6
Transfer Agent: Montreal Trust Company of Canada - Calgary and Vancouver

TEL: (403) 974-7400
FAX: (403) 237-0450
Alberta Stock Exchange

THE ALBERTA STOCK EXCHANGE NOR ANY REGULATORY BODY HAS REVIEWED THIS NEWS RELEASE AND THEREFORE DO NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.