|December 14, 2010|
Yellowhead Mining Is Pleased To Report The Results From The First Drill Hole Of An Ongoing 4,000m Diamond Drilling Program At Harper Creek
|NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA|
Yellowhead Mining Inc. is pleased to report the results from the first drill hole of an ongoing 4,000 meter (8 hole) diamond drilling program designed to expand the current open pit resources, which is expected to be completed mid-January 2011. This program is being managed by CME Consultants Inc. ("CME").
Drill hole HC10-76 is part of a three-drill-hole fence through the western part of the deposit designed to test depths below the historical drill holes of the early 1970's. The drill hole location is shown on the attached plan map. The drill hole intersected numerous intervals of significant copper mineralization which can be grouped into four principal copper horizons.
A complete list of significant intersections is presented in the table below.
Please refer to to the Cross Section Map - http://www.yellowheadmining.com/i/pdf/Cross-Section-Map.pdf
Please refer to the Drill Plan Map - http://www.yellowheadmining.com/i/pdf/Drill-Plan-Map.pdf
The top horizon in-filled and proved the continuity of the mineralization within the current proposed pit outline. The horizon includes multiple copper zones including 0.49% Cu over 27.20m, and 0.35% Cu over 33.13m. Numerous high grade intervals over shorter intervals will add to the overall resource at a 0.15% Cu cutoff.
The remaining three copper horizons extend mineralization below the current pit limits in excess of 125 meters. These zones include broad intervals such as 0.44% Cu over 24.08m and narrower, higher grade material of 1.42% over 7.00m (or approximately 0.66%Cu over a 15m bench height). These horizons are shown on the attached cross-section 303880E.
Harper Creek is a copper-gold-silver volcanogenic sulphide deposit with an indicated resource of 4,000,000,000 pounds of copper and inferred resource of 500,000,000 pounds of copper plus as yet an unquantified resource of gold and silver. Mineralization occurs as a series of tabular bodies hosted within the Eagle Bay Assemblage volcanic and sedimentary rocks.
Ian Smith, Chief Executive Officer, stated "The results for hole HC10-76 demonstrate the potential to increase the resource within the established resource surface outline, by drilling deeper than the historical drilling from the 1960's and 1970's."
Christopher O. Naas, P.Geo. B.Sc., Project manager for Yellowhead's Harper Creek Project, is a qualified person as defined by National Instrument 43-101 and prepared or reviewed the preparation of the scientific and technical information in this press release with respect to the assay results from the Harper Creek drill program.
Mr. Naas has practiced in his profession continuously since 1987 and has been involved in mineral exploration for precious and/or base metal in North America, South America and Africa.
SAMPLE COLLECTION, ANALYSES, AND QA-QC
All core processing was undertaken by CME personnel. Core was cut by electric motorized rock saw with half core shipped to Eco Tech Laboratory, part of the Stewart Group (Eco Tech), in Kamloops, BC for sample preparation and analysis. Drill core samples were analyzed for gold by fire assay with an AA finish and multi-elements by total digestion ICP-ES. Core samples returning greater than 2,000 ppm copper were assayed for copper. In addition to control samples inserted by CME, the analytical laboratory routinely inserted their own control samples, which consisted of standards, blanks and sample repeats.
ABOUT YELLOWHEAD MINING INC.
Yellowhead has a 100% interest in the Harper Creek Project subject to the payment of a royalty capped at $2.5 million, adjusted for inflation, on claims within the NI 43-101 resource. The Harper Creek Project is a large copper-gold-silver project located in south-central British Colombia, approximately 150 kilometers by highway from Kamloops.
For more information, please contact:
Ronald Handford, Executive Vice President, Corporate Development
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, including, among others, the accuracy of mineral grades and related assumptions, inherent operating risks, planned expenditures, proposed exploration and development at the Harper Creek Project, operating and economic aspects of the Harper Creek Project, as well as those risk factors identified in the Filing Statement filed under the Company's SEDAR profile. Yellowhead undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Yellowhead.
Neither the TSX Venture Exchange Inc. 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.
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