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Tuesday, July 06, 2010

Investorideas.com - Mining Stocks; YALE (TSX-V: YLL) ANNOUNCES THE START OF GEOPHYSICS AT GUADALUPE

Investorideas.com - Mining Stocks; YALE (TSX-V: YLL) ANNOUNCES THE START OF GEOPHYSICS AT GUADALUPE

Visit this company: www.yaleresources.com

July 6, 2010 (Investorideas.com Mining stocks Newswire) - Yale Resources Ltd. (TSX-V: YLL and Frankfurt: YAB) is pleased to announce that the next phase of field work has started at the wholly owned Guadalupe property, located in the heart of the Fresnillo district, on behalf of partner Gold American Mining Inc. (OTC – SILA, previously Silver America Inc.).


The field program underway will include seventeen line kilometres of geophysics (Induced Polarization and Magnetics) as well as additional detailed sampling and mapping. This second phase of exploration is expected to last 3 weeks.

Yale's Mexican staff has recently acquired additional geological data for the Guadalupe property and surrounding area. This data indicates that additional historical workings exist within the property that have not been visited or sampled by Yale to date. Along with the geophysics these new areas will be a focus of this next phase of exploration.
The Guadalupe Property:

The 282.84 hectare Guadalupe Property is located approximately 4 kilometres north of the city of Fresnillo, Zacatecas State, Mexico. The property is approximately 8 kilometres north of the Fresnillo (Proaño) Mine, the world's richest underground silver mine operated by Fresnillo plc. The property is also approximately 11 kilometres northeast of the Juanicipio Joint Venture between MAG Silver Corp. and Fresnillo plc.
The Property contains greater than 20 known workings as well as two historic mines –Santa Rita and San Antonio. Historic records containing references to the Santa Rita and San Antonio mines suggest that both mines were important and reached their height of production between 1910 and 1920 but were last in production in the 1980's. The property is completely surrounded by land controlled by Peñoles (either through Fresnillo or other subsidiaries and partners).
Highlight results from the first phase exploration program were (see news release dated May 13, 2010):

1.00 g/t Au and 946.9 g/t Ag over 1.1m
including 1.83 g/t Au and 1,800.0 g/t Ag over 0.5 m
0.30 g/t Au and 622.0 g/t Ag from a mineralized dump
0.59 g/t Au and 330.0 g/t Ag over 0.7 m
5.35 g/t Au and 1,189.0 g/t Ag from a mineralized dump

Status of Option Agreement:
Gold American has committed to the next period of the Guadalupe option; Yale has received US$20,000 cash as well as an additional 100,000 shares in the Gold American.
To earn a 90% interest Gold American is required to pay Yale US $ 900,000 cash ($40,000 received), spend US $ 2,000,000 on exploration expenditures and issue 1,000,000 shares to Yale (200,000 received) in staged payments over four years. Yale will act as the operator for the project. The minimum work commitment before June 30, 2011 is US $ 400,000 including a minimum of 2,000 metres of drilling. Should the earn-in be completed Yale will retain a 10% participating interest in the property as well as a 2% NSR, which can be bought out in entirety for US $ 2,000,000.

About Yale Resources:
Yale Resources is an exploration and development company concentrating in northwestern Mexico that is building value through project generation. Yale has three of its seven properties optioned out to value added partners. These agreements combine for minimum commitments of approximately US $1,100,000 of exploration expenditures over the next 12 months. Yale continues to work on its non-optioned properties as well as reviewing new projects with a focus on gold.
Samples from the Guadalupe property were prepared and analyzed by Stewart Labs in their facilities in Mexico and Kamloops, respectively. Samples generally consisted of 1-3 kg of material. Gold and silver analyses were performed by 30 gram fire assay with an AA finish. Samples with greater than 100 g/t silver were re-assayed using gravimetric methods.

Ian Foreman, P.Geo., is Yale Resources’ Qualified Person, as defined by National Instrument 43-101, for the Guadalupe property. The Guadalupe property is an early stage project with no reported resources that requires additional sampling and geological mapping to fully determine the project’s potential.
On behalf of the Board,
"Ian Foreman"Ian Foreman, P.Geo.President


For additional information on Yale Resources please call the Company at 604-678-2531.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

Contact:
Yale ResourcesCary Martin, 604-678-2531 ext. 223.

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