Columbia Yukon Announces Further Private Placement
2489 Bellevue Avenue Tel 604 922 2030 West Vancouver, BC Fax 604 922 2037 Canada V7V 1 E1 Canada (toll free) 1 888 888 9122 USA (toll free) 1 888 888 9123 [email protected] www.columbiayukon.com
News Release No: 12-05
Trading symbols:
TSX-V: CYU Frankfurt: VOR
Columbia Yukon Announces Further Private Placement
West Vancouver, British Columbia – September 17, 2012 – By news release dated August 17, 2012, Columbia Yukon Explorations Inc. (the “Company” or “Columbia Yukon”) announced that it had closed a nonbrokered private placement and had raised $150,000 by the issuance of 3,000,000 non-flow through shares at a price of $0.05 per share. Such shares were acquired by a Director of the Company, namely, Edward Yurkowski (“Yurkowski”). As a result of such acquisition, Yurkowski owns 19.12% of the Company's current issued share capital.
Subject to regulatory approval, the Company now intends to proceed with a further non-brokered private placement to raise up to $1,000,000 (the “Private Placement”) by the issuance of up to 20,000,000 non-flow through shares (the "Shares") at $0.05 per Share. Yurkowski has indicated that he wishes to acquire all of the Shares being offered, which proposed acquisition will require approval of the Company's shareholders. The Company plans to seek the necessary shareholder approval at its upcoming annual and special general shareholders’ meeting to be held on October 30, 2012.
The Company intends to use the proceeds from this Private Placement for furthering the exploration and development of the Company’s Storie Property molybdenum project and for general working capital purposes.
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”
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Douglas L. Mason, Chairman
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.