Columbia Yukon Provides Company Update

Columbia Yukon Explorations Inc. (the "Company" or "Columbia Yukon") (TSX
VENTURE:CYU)(FRANKFURT:VOR) is pleased to provide an update on the Company's
strategic plans for 2009.


Columbia Yukon currently has over $4 million in cash and receivables, which the
Company believes will enable it to meet all of its planned expenditures for the
next 12 to 18 months without having to raise additional funding.


As part of Columbia Yukon's 2009 plan, the Company will be completing a further
updated NI 43-101 Mineral Resource Estimate Report, including a further
exploration model. The current NI 43-101 resource calculation, that was
completed in August 2008, delivered an impressive resource reclassification for
its "Storie" Property molybdenum deposit located near the township of Cassiar,
British Columbia.


This year, the Company also plans to continue with its environmental studies,
and to commission a more advanced metallurgical study on the Storie project. As
well, proactive consultation with the local First Nations and departments of
government respecting Columbia Yukon's 2009 plans for the Storie molybdenum
project will continue.


Columbia Yukon's Chairman, Douglas Mason, commented, "During the past year, the
Company made tactical decisions to preserve working capital. This ensured that
we would be in a positive cash position to carry through with our strategic
plans for 2009 and beyond. With a successful 2008 drill program and the updated
2009 NI 43-101 pending, along with a considerable cash reserves, Columbia Yukon
is preparing to move forward with a planned strategy for the "Storie" molybdenum
deposit which will include positive steps towards the completion of necessary
studies and advancing potential strategic partnerships for the development of
the Storie Property."


Columbia Yukon has also now completed the purchase of the maximum number of
shares permitted under its Normal Course Issuer Bid (the "Bid"). Specifically,
Columbia Yukon has repurchased 2,041,747 common shares out of the market, which
shares will be cancelled. The Bid was undertaken in June 2008 as the Board of
Directors believed that Columbia Yukon's shares were trading at values much less
than their true worth.


During the current market conditions, insiders and close associates of Columbia
Yukon have continued to acquire additional shares out of the market to
significantly increase their combined ownership. Currently, insiders of the
Company now control approximately 5.5 million shares, representing approximately
14% of the issued and outstanding capital (following the cancellation of the
purchased Bid shares). Close associates of Columbia Yukon own an additional 2.2
million shares, representing approximately 5.7% of the issued and outstanding
capital. Together, insiders and close associates control approximately 7.7
million shares, representing 20% of the issued and outstanding capital, and on a
fully diluted basis, hold approximately 11.5 million shares, representing
approximately 26% fully diluted.


About Columbia Yukon Explorations Inc.

Columbia Yukon is a Canadian mineral exploration company focused on the
development of its Storie property molybdenum deposit. The Storie property is
situated about 6 km southwest of Cassiar, British Columbia. Cassiar is located
15 km (by road) west of Highway 37, which provides access to Watson Lake, Yukon,
to the north and Dease Lake and Stewart, British Columbia, to the south.


Columbia Yukon Explorations Inc.

Ronald A. Coombes, President & CEO

This news release includes certain statements that may be deemed
"forward-looking statements". All statements, other than statements of
historical facts, that address such matters as future exploration, drilling,
exploration activities, potential mineralization and resources and events or
developments that the Company expects, are forward looking statements and, as
such, are subject to risks, uncertainties and other factors of which are beyond
the reasonable control of the Company. Although the Company believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance
and actual results or developments may differ materially from those in
forward-looking statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include such matters as
market prices, exploitation and exploration results, continued availability of
capital and financing, and general economic, market or business conditions. Any
forward-looking statements are expressly qualified in their entirety by this
cautionary statement. The information contained herein is stated as of the
current date and subject to change after that date.
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