Columbia Yukon Signs Resource Funding Agreements with First Nations

Columbia Yukon Explorations Inc. (TSX VENTURE:CYU)(FRANKFURT:VOR) (the "Company"
or "Columbia Yukon") is pleased to announce that it has entered into two
Resource Funding Agreements (the "Agreements") with the Dease River Indian Band,
Daylu Dena Council, Kwadacha First Nation and Kaska Dena Council (collectively
the "BC Kaska") in connection with the continued exploration and development of
the Company's "Storie" Property molybdenum deposit located near Cassiar, British
Columbia. Under the Agreements, Columbia Yukon has agreed to provide resource
funding to the BC Kaska to contribute to the cost of negotiating a Traditional
Knowledge Protocol (the "TK Agreement") and a detailed Socio-Economic
Participation Agreement (the "SEPA").


With respect to the current and ongoing exploration of the Storie Property,
Columbia Yukon and the BC Kaska currently operate under a Memorandum of
Understanding (the "MOU") which has been in place since November 2007. Going
forward, Columbia Yukon and the BC Kaska both wish to finalize a TK Agreement,
which will assist the parties in establishing the appropriate traditional
knowledge protocols for the exploration and development of the Storie Property.
As well, and as part of the potential development and design of the mine
infrastructure for the Storie Property project, Columbia Yukon and the BC Kaska
wish to conclude a SEPA which would include environmental, cultural and
socio-economic and business opportunities and benefits, including employment and
training, for members of the BC Kaska and their businesses.


"Columbia Yukon is very pleased to have been able to conclude the Resource
Funding Agreements that will enable the Company and the BC Kaska to move forward
with concluding a TK Agreement and a SEPA which we believe will bring economic
opportunities to the region and provide certainty for Columbia Yukon's Storie
Property molybdenum deposit project," said Douglas Mason, Chairman of Columbia
Yukon.


Chief Cat Lee of the Dease River Indian Band stated, "Our Nation continues to
develop its beneficial relationship with Columbia Yukon. These Resource Funding
Agreements are another stepping stone to mutual recognition and respect. As a
directly affected First Nation, we anticipate positive benefits and
opportunities for our citizens. The Kaska Dena will maintain and further our
socio-economic vision with a sustainable economic development that provides
meaningful incentives, benefits and opportunities for Kaska citizens."


George Miller, Chair of the Kaska Dena Council, added, "The Kaska Dena consider
the signing of these Agreements to not only be a constructive development for
our relationship with the mining community, but it can be a catalyst towards
further Aboriginal nation-building. We will be a stronger nation by acting
together. We want to see healthy communities, environmental compliance and
meaningful investment in Kaska territory, including infrastructure development,
and not at the expense of our culture and social integrity. Such Agreements are
examples of substantive accommodation that can benefit citizens at the community
level."


About Columbia Yukon Explorations Inc.

Columbia Yukon is a Canadian mineral exploration company focused on the
development of its Storie Property molybdenum deposit situated about 6 km
southwest of Cassiar, British Columbia. The Storie Property molybdenum deposit
has an April 2009 updated NI 43-101 compliant Measured and Indicated Resource of
139.82 million tonnes grading 0.064% Mo (at a cut-off of 0.030% Mo) and 58.39
million tonnes of Inferred Resource grading 0.059% Mo (at a cut-off of 0.030%
Mo). Cassiar, British Columbia is located 15 km by road west of Highway 37 which
connects to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British
Columbia, to the south.


Columbia Yukon Explorations Inc.

Douglas L. Mason, Chairman

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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