Columbia Yukon Grants Stock Options

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

Trading symbol: TSX-V: CYU Frankfurt: VOR

News Release No. 12-03

Columbia Yukon Grants Stock Options

West Vancouver, British Columbia – July 24, 2012 – In connection with the recent appointment of Andrzej Kowalski as a director of Columbia Yukon Explorations Inc. (the “Company”), the Company is pleased to announce that it has granted 75,000 incentive stock options to Mr. Kowalski at an exercise price of $0.10 per share for a term of 5 years.

For further information, contact Mr. Clive Shallow, Shareholder 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.