Columbia Yukon’s President Ron Coombes and Al Alper on the right side.

170 million pounds of molybdenum assets in the ground are like money in the bank to Columbia Yukon Explorations. But the exploration company’s future looks even brighter because it has money in the bank to expand the resource underground, as well as a group of experienced, senior geologists that can stay on top of multiple projects at once.

Columbia Yukon Explorations Inc. is an aggressive mineral exploration company engaged in the acquisition and exploration of molybdenum, gold and silver in British Columbia, Canada.

We interviewed Columbia Yukon’s President Ron Coombes, and John Kowalchuk, vice president of exploration.

Ron Coombes was appointed President of Columbia Yukon in February 2006. With extensive experience in mining and public financing, he is also President of Orphan Boy Resources and Consolidated Venturex Holdings Ltd.

John Kowalchuk, BSc, PGeo is a professional geoscientist and member of the Association of Professional Engineers and Geoscientists of British Columbia. He joined forces with Coombes in 2005, as a director for one of Coombes’ junior companies. He also joined Columbia Yukon in 2006, as vice president of exploration and qualified person.

Kowalchuk has 34 years of geological experience developing and managing exploration projects, having worked for Placer Development, DuPont of Canada, and Placerdome. He has also consulted with various junior mining companies, discovery and staking the Kerr porphyry copper-gold deposit, the Howard’s Pass stratiform zinc-lead deposit, the barium-lead-zinc and silver deposit in Driftpile Creek and the Cleo Tungsten property in Northern Canada.

The Story of Storie

“In 2006, Columbia Yukon acquired the Storie Molybdenum Project property,” said Kowalchuk. “This property has a historical resource put out by Shell Resources-Canada in 1980 -- a mineable reserve of 100.5 million of tons of 0.129 MoS2. In 1979, and 1980 this was considered an economically viable project.”

Shell’s internal resource estimate was based on 86 diamond drill holes, covering an approximate 1000-meter strike length, over a 300 - 400 meter width (plan view) and to a vertical depth of 150 meters. Since these historical resources are not consistent with present reporting standards and cannot be relied upon, Columbia Yukon will recalculate the resource to comply with current Canadian regulations. But they feel the historical resource will hold true.

“All of our work so far has tended to agree with Shell Mineral, so we expect no change in the resource,” said Kowalchuk. “It will be qualified by an independent engineering firm soon. There will probably be a significant increase with inferred resources.”

The Storie Molybdenum Deposit is located immediately south of the former Cassiar Asbestos mine town site in northwestern British Columbia. It has paved roads, dirt road access and is close to communications, power and air transport

The deposit is open along strike to the east, north, west and to depth. Historical IP and ground magnetics show the mineralized system to be open for an additional 400-meters to the east, toward the host monzonitic intrusive contact to bounding calcareous sedimentary rocks. Random historical deep drill holes show mineralization does continue to at least 200-meters depth.

Drilling to Confirm Estimates

Columbia Yukon intends to re-drill the deposit sequentially along strike and to an approximate depth of 300-meters, on 100-meter drill centers to fully delineate the deposit. Surrounding silver-rich lead-zinc skarn occurrences are indicative of large porphyry molybdenum systems, which could indicate a large deposit. In addition:

• Historical drill results and regional prospecting suggests a possible stacking of the molybdenum-bearing structural zones both in the immediate deposit area as well to the east.
• Float samples grading up to 0.50% MoS2 occur 500 meters south of the deposit.
• Molybdenum anomalies in soil samples intermittently continue for another 2500 meters east of the main deposit.

“Last year, we drilled 5,000 meters of drilling, started environmental testing, and we’ve almost completed the resource evaluation,” explained Kowalchuk.

This year, the firm will be increasing its profile in the area with increased environmental testing. “We’re going to drill over 20,000 meters, or 66,000 feet of further core drilling. This will improve the quality of the resource that we have and increase, possibly double or triple, the resource that we’re going to get,” he added.

With additional metallurgical testing, Columbia Yukon expects to have a revised resource evaluation by the end of 2007. And by mid-2008, they intend to have completed the pre-feasibility study and will proceed on with final work towards feasibility.

According to Kowalchuk, the property lies in the Cassiar bathlet, a multiphase quartz, monzonite intrusive. This quarter monzonite has a disseminated molybdenum mineralization, porphyry molybdenum-type mineralization throughout. The Crone Fault has remobilized and increased the grade above these fault zones creating a grade of around .08 percent molybdenum.

“We have two or three other structures, which have not been drilled, upon which trenching has found more molybdenum mineralization, and we have one drill hole, quite a ways to the east, along one of the faults. This X Fault, which had 131 meters, or about 400 feet of .181 MoS2, which is very, very high,” said Kowalchuk

Two drill sections show some of the historical drill results. From south to north, (Section B-B) on approximate 100 meter drill centers:

DDH 79-4: 0.095% Mo or 0.158 % MoS2 / 85 meters
DDH 71-1: 0.095 % Mo or 0.158 % MoS2 / 146 meters
DDH 79-3: 0.051 % Mo or 0.085 % MoS2 / 67 meters
          0.096 % Mo or 0.160 % MoS2 / 21 meters
          0.120 % Mo or 0.200 % MoS2 / 128 meters
DDH 80-7: 0.069 % Mo or 0.115 % MoS2 / 260 meters

From south to north, (Section ** ) on approximate 100 meter drill centers

DDH 80-5:   0.071 % Mo or 0.118 % MoS2 / 52 meters
DDH 80-6:   0.060 % Mo or 0.100 % MoS2 / 64 meters
DDH 80-8:   0.074 % Mo or 0.123 % MoS2 / 125 meters
DDH 80-21: 0.060 % Mo or 0.100 % MoS2 / 110 meters

Gold in Kettle River

Columbia Yukon’s gold project is located at the headwaters of the Kettle River, in British Columbia, an historically significant gold placer producing region. In April 2007, the company began an eight-hole drill program in the Holmes Lake gold zone of Barnes Creek, to investigate the gold potential of this large sheeted vein and shear zone. The zone was first discovered in 2005 and confirmed from the Company’s trenching program in 2006.

The Holmes Lake gold zone has been traced for 1800 meters along strike and is at least 50 meters wide. A coincidental geochemical anomaly has been interpreted to be related to this mineralized shear. The property is fully road accessible.

The specific target at Holmes Lake appears to be underlain by a fine grained feldspar porphyry intrusive (possibly high level) and/or fine-grained feldspar porphyritic diorite. Gold, arsenic and silver soil geochemistry is particularly effective in this terrain. The present soil anomaly, best defined by gold and arsenic, trends northwesterly and is approximately 1200 meters by 300 meters and open both to the northwest and southeast. Maximum soil values are 1280 ppb gold, 875 ppm arsenic and 8.9 ppm silver.

When Columbia Yukon did trenching at the eastern part of the anomaly in Spring 2005, it uncovered high grade gold and silver bearing quartz veins with assays to 16.6 g/t gold and 282 g/t silver. These veins occur within a structural corridor that in places is also highly anomalous in gold over significant widths.

Setting Priorities

Ron Coombes joined Columbia Yukon Explorations after meeting Douglas Mason, chairman of the board. “In joining Doug, of course, one of the first things we wanted to do was to evaluate all of the projects, and so we’ve dropped a number of projects. And of course, acquiring this Moly project last year was a significant coup for the company,” Coombes said.

The company currently has a little over 35 million shares and over $6 million in cash. In June 2007, Columbia Yukon announced a non-brokered private placement to raise up to $3,180,000 by the issuance of 1,200,000 flow through units at $2.65 per unit.

“We have an asset in the ground right now that’s extremely significant and our plans are to significantly expand the resource this coming year. We have the money in the bank to do so. We believe that the upside potential should allow the shareholders to make a prudent decision as to the potential of Columbia Yukon,” Coombes said.

“The fact that we have 170 million pounds of contained molybdenum in this project, and the fact that our 43101 is forthcoming right now, will have positive impacts on the company’s financial future as far as shareholder value,” Coombes added.

Columbia Yukon is one of a group of companies called the Waterfront Mining Group. This has allowed them to retain in-house consultants on a full-time basis for securities law and other areas.

“Of course, we’ve been blessed with John Kowalchuk being there on a full-time basis, and we’ve assembled a group of senior geologists that can move from project to project and at all times be familiar with and up to speed with each one of our projects,” Coombes said. “So I think that adds tremendous value to an exploration company.”

Corporate Offices:
2489 Bellevue Avenue
West Vancouver, British Columbia
Canada V7V 1E1
Tel: (604) 922-2030
Fax: (604) 922-2037
Email: info@waterfrontgroup.com
www.columbiayukon.com

NI 43-101 Report Validates Historical Resource

West Vancouver, British Columbia – July 5, 2007 – Columbia Yukon Explorations Inc. (the “Company”) is pleased to announce the receipt of a NI 43-101 Mineral Resource estimate for its “Storie” Property Molybdenum Deposit. The Storie Deposit is situated in the Liard Mining Division, approximately 6 km southwest of the Town of Cassiar, British Columbia. Cassiar is 540 km from the port of Stewart, British Columbia, 125 km north of Dease Lake, B.C., and 137 km from the Alaska Highway west of Watson Lake, Yukon Territory. Cassiar is 1,190 air kilometres from Vancouver.

In 1980, Shell Canada reported unclassified historical "drill indicated reserves" (alternatively "drill indicated potential") of 100.5 Mt grading 0.129% MoS2 using a cutoff of 0.07% MoS2. This is equivalent to 100.5 Mt grading 0.077% Mo at a cutoff of 0.042% Mo, a figure which has been reported in government and other technical documents since that time. This estimate pre-dates NI 43-101 and is not compliant and should not be relied upon.

Watts Griffis and McOuat Limited (“WGM”), Consulting Geologists and Engineers of Toronto, Ontario, has prepared a Mineral Resource estimate for the Storie Molybdenum Deposit using 38 drill holes, primarily NQ (47.6 mm) diameter, from drilling programs completed in 1979, 1980 and 2006. Using a cutoff of 0.035% Mo, a bulk rock density of 2.6 g/cm3, a maximum open pit mining depth of 325 metres and an assumed 1.5 to 1 waste to "ore" stripping ratio, the Storie Deposit has been estimated to contain an Inferred Mineral Resource of 101.59 Mt grading 0.067% Mo.

“WGM is of the opinion that a realistic drill hole spacing to upgrade the current Mineral Resources will likely be in the 50m to 80m range; however, this will require further detailed analysis after analytical data from more drill holes become available, and WGM will assess the drill spacing on an ongoing basis”. The surface dimensions are slightly elongated with an east-west direction and, as currently defined by drilling, are approximately 700m by 600m. In generating the polygonal model, WGM noted that, although there is excellent evidence of continuous mineralization between drill holes, the thickness and grade vary even between drill holes less than 80m apart.

Due to this variability and the current wide drill hole spacing, particularly between drill holes in the deeper north and west portions of the deposit, WGM has classified the Mineral Resource estimate as Inferred at this time. The Company anticipates that the planned 2007 infill-drilling program, as recommended by WGM, will upgrade the resource classification.

WGM states that, “The Storie Deposit warrants further work. The deposit is presently known to be open to the east, west and north, as well as at depth, and there are untested structures (the X Fault) and molybdenum occurrences (M Zone) which merit further investigation”

The “X Fault", a structure roughly parallel to the Crone Fault, passes the southern edge of the Storie Deposit in the area of the southernmost historic drill holes. No mention of the X Fault is made in the two previous Shell Canada reports on the Storie Deposit, but it may be significant since it appears to be in proximity to the “M Zone” molybdenum occurrence. A third Shell Canada report had conflicting information of an intersection of 0.23% MoS2 over 130m and/or 0.23% MoS2 over 5m in one historical hole (M-2) at the M Zone; only portions of the core were split and assayed.

Most recently, the Company has completed the core drilling of nine holes to the east of the resource block and has extended the known zone of mineralization 125m to the east (assays are currently pending). The Company’s previously reported 2007 drilling program of up to 40,000 metres continues, and the Company will update results upon receipt and review of analyses.

The Company’s Qualified Person, John Kowalchuk, P.Geo., has reviewed this release and is acting as the Qualified Person for this project.

For further information, contact Mr. Clive Shallow, investor communications at 604-922-2030 or visit the Company’s website at www.columbiayukon.com. A copy of the NI 43-101 Report will be available on Sedar and on the Company’s website.