Source CCNMatthews
Date03/13/2007 §
Time§06:07:56 AM
Company§ COLUMBIA YUKON EXPLORATIONS INC.
Title§Columbia Yukon Explorations Inc.: "Storie Molybdenum Deposit"
CDNX Symbol: CYU
Press Release
NEWS RELEASE TRANSMITTED BY CCNMATTHEWS
FOR: Columbia Yukon Explorations Inc.
TSX VENTURE SYMBOL: CYU
March 13, 2007
Columbia Yukon Explorations Inc.: "Storie Molybdenum Deposit"
Two Drills for 20,000 Metre Expansion Program
WEST VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 13, 2007) - Columbia
Yukon Explorations Inc. (TSX VENTURE:CYU) (the "Company") is pleased to
announce that a contract has been awarded to DJ Drilling located at Watson
Lake, British Columbia. DJ Drilling has agreed to supply two drill rigs to
drill a minimum 10,000 to 20,000 metres as previously budgeted and reported.
The Storie property lies south of the former Cassiar Mine townsite and is
accessible by paved highway to Cassiar and then five kilometers of all weather
gravel road.
For 2007, core drilling is intended to provide additional confirmation of the
resource with infill drilling, and to test the potential increase of the size
of the resource with exploration along strike and in parallel targets which is
scheduled to start in late spring. Also, prior to completing a pre-feasibility
study, the Company plans to take a bulk sample for preliminary metallurgical
testing. An IP geophysical is planned to identify drill targets in other
potential new zones.
The historical resource estimate for the Storie Property molybdenum deposit is
100,500,000 tonnes @ 0.077% Mo or 0.129% MoS2. The resource calculated by Shell
Canada Resources Ltd. ("Shell") in 1981 is a historical resource and does not
meet National Instrument 43-101 standards and as such can not be relied upon.
The Company's Qualified Person, John Kowalchuk, P. Geo., has not reviewed the
calculation for the historical resource; however, believes that it has been
calculated by competent engineers to the standards of the period. The
historical resource estimate was based on 86 drill holes, covering an
approximate 1000-metre (3,280 feet) strike length, over a 300-400 metre
(980-1,310 feet) width and to a vertical depth of 150 metres (492 feet).
As recently announced, the Company has retained Watts, Griffis and McOuat,
Geological Engineering Consultants, to construct a deposit model and to
calculate an NI 43-101 compatible resource for the Storie property. Following
the resource calculation, Watts, Griffis and McOuat have also been engaged to
complete a scoping study for the Storie project. The scoping study will help
guide the Company's exploration of the Storie project towards full feasibility.
The scoping study is scheduled to be completed by April/May 2007.
John Kowalchuk, P. Geo., has reviewed this release and is the Qualified Person
for the Storie molybdenum property project.
Columbia Yukon Explorations Inc.
Ronald A. Coombes, President
- 30 -
FOR FURTHER INFORMATION PLEASE CONTACT:
Columbia Yukon Explorations Inc.
Mr. Clive Shallow
Investor Communication
(604) 922-2030
Website:
www.columbiayukon.comThe TSX Venture Exchange has not reviewed this news release and does not accept
responsibility for the adequacy or accuracy of this release.
INDUSTRY: Manufacturing and Production - Mining and Metals
SUBJECT: BFC - BUSINESS CONTRACTS