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January 24, 2011 (Investorideas.com Mining stocks Newswire) – Yale Resources Ltd. (TSX-V: YLL and Frankfurt: YAB) is pleased to provide its shareholders with a recap of a very successful 2010 and the Company’s plans for moving forward and continued growth in 2011.
Yale’s business model of being a Project Generator showed its value to Yale’s shareholders in 2010 by providing Yale with sufficient working capital to continue working on it’s wholly owned projects and expand its portfolio of projects without diluting the Company by undertaking a financing. Yale added four properties to its comprehensive portfolio of projects in 2010. The Company was then successful in optioning out two of those properties – Guadalupe and Los Amoles.
Funding provided by Yale’s partners in 2010 was approximately double that of 2009 showing considerable growth in the Company’s business plan. These expenditures were highlighted by the discovery of a previously unrecognized portion of the Marcos de Oro Vein within our wholly owned Guadalupe property. The intersection of 11.5 m averaging 2.03 g/t gold and 382.6 g/t silver (see news release dated Dec. 15, 2010) assures that additional work will be performed on the property. In addition, Yale’s cash proceeds from its partners in 2010 was more than double that in 2009.
“For Yale to have raised that amount of money in 2010 we would have had to issue upwards of 18 million shares. By having partners help with the exploration of our projects we have kept dilution to a minimum”, stated Ian Foreman, P.Geo., president of Yale.
Also during the year the Urique Project was returned to the Company. The option proved very successful in that a new high grade gold clavo was discovered within the El Rosario workings, with highlight samples grading: 9.74 g/t gold and 356.7 g/t silver over 1.68 m, 2.16 g/t gold and 92.5 g/t silver over 2.93 m, and 3.60 g/t gold and 108.2 g/t silver over 1.87 (see news release dated November 17, 2009). With the recent addition to the San Pedro target, Yale anticipates that it will be able to find a new partner for the property.
The projection for 2011 is for continued growth of Yale through the optioning of additional projects as well as increased exploration commitments on our current portfolio of optioned properties. In conjunction with working with our partners, Yale will continue to advance our wholly owned projects.
Yale anticipates that at least two projects will be drilled by partners in 2011 and that the Company will be able to drill at least one of its wholly owned projects.
Results are pending on the recent work program at Los Amoles completed on behalf of our partner Nature’s Call and field work is anticipated to start shortly on the Company’s newest property, Apache.
Stock Options:
The Company has granted 1,500,000 stock options to management, officers, directors and consultants of the Company at a value of $0.10 that will expire on January 24, 2014.
Samples from the Guadalupe property were prepared and analyzed by Stewart Labs in their facilities in Mexico and Kamloops, respectively. Samples generally consisted of 1-3 kg of material. Gold and silver analyses were performed by 30 gram fire assay with an AA finish. Samples with greater than 1% copper, lead and/or zinc are re-analyzed using their ore grade analysis. Samples with greater than 100 g/t silver were re-assayed using gravimetric methods.
Samples for the Urique Project were prepared and analyzed by IPL Inspectorate in their facilities in Mexico and Vancouver, respectively. Samples generally consisted of 1-3 kg of material. Gold and silver analyses were performed by 30 gram fire assay with an AA finish. Samples with greater than 1 g/t gold were re-assayed using gravimetric methods.
Ian Foreman, P.Geo., is Yale Resources’ Qualified Person, as defined by National Instrument 43-101, for the Guadalupe property and the Urique Project. The Guadalupe property and the Urique Project are early stage projects with no reported resources that requires additional sampling and geological mapping to fully determine the project’s potential.
On behalf of the Board,
“Ian Foreman”
Ian Foreman, P.Geo.
President
For additional information on Yale Resources please call the Company at 604-678-2531.
