Tuesday, February 22, 2011

Mining Stocks; YALE (TSX-V: YLL) FINALIZES OPTION FOR THE CAROL PROPERTY, SONORA STATE

February 22, 2011 (Investorideas.com Mining stocks Newswire) - Yale Resources Ltd. (TSX-V: YLL and Frankfurt: YAB) is pleased to report that it has signed a formal Agreement with El Condor Minerals Inc. for the option to earn a 70% interest in Yale�s wholly owned Carol Property located in southern Sonora State, Mexico. Yale has received a total of $ 50,000 in cash to date.
To earn a 70 % interest in the Carol property El Condor will be required to spend $ 1,700,000 on exploration expenditures and pay Yale a total of $350,000 over four years. The exploration expenditures required in the first year is $200,000 with $100,000 being a firm commitment having to be spent within the first six months.
El Condor will be designated as the operator for the project during the length of the Agreement and as such will oversee the work on the property and designate contractors, which may include Minera Alta Vista, Yale�s Mexican subsidiary.
About Yale Resources:
Yale Resources is an exploration and development company concentrating in northwestern Mexico. Utilizing the joint venture business model, Yale is able to maximize its exposure to discovery while minimizing exploration risk. At the same time Yale continues to work on its non-optioned properties as well as reviewing new projects. Yale has four projects under option to value added partners with commitments for approximately $1.0M in expenditures during the next 12 months.
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.
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 Resources Ltd.
604-678-2531
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