Yale Resources Ltd. (TSX-V – YLL, OTCBB – YRLLF, and FSE – YAB) has terminated the option agreement for the Carol Property with El Condor Resources Inc. (LCO.V) as certain financial milestones in the agreement were not met.

As a result of not completing the obligations, the property remains 100% owned by Yale. The Company will re-compile the data for the Carol Property and look for a new optionee for the property in the New Year.

Corporate Update:

The Company wishes to report the resignation of Luca Riccio as director. Dr. Riccio was a director of the Company since 2003 and has decided to pursue other opportunities. The Company would like to thank Dr. Riccio for his years of service as he was instrumental in helping Yale during its initial exploration campaigns in Mexico.

About Yale Resources:

Yale Resources utilizes the project generator business model to maximize its exposure to discovery while minimizing shareholder risk. Yale currently has eight projects in its portfolio of which five are optioned out with commitments totalling approximately $1.3 M in expenditures during the next 12 months. At the same time Yale continues to work on its non-optioned properties as well as reviewing new projects.


On behalf of the Board,

“Ian Foreman”
Ian Foreman, P.Geo.
President