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

News Release No: 12-07

Trading symbols:

TSX-V: CYU Frankfurt: VOR

Columbia Yukon Grants Stock Options

West Vancouver, British Columbia – November 23, 2012 – Columbia Yukon Explorations Inc. (the “Company”) announces that, in accordance with the terms of the Company’s stock option plan, the Company has granted 3,555,000 incentive stock options to certain directors, officers, employees and consultants 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, Chief Executive Officer

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.