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From Financing to Feasability: Yellowhead Mining Further Secures Copper Future – March 24, 2011 – Fresh off of the PDAC 2011 Investors Exchange Mining Investment Show, the team at Yellowhead Mining [YMI – TSX.V] was returning to Toronto for a well-deserved injection of confidence and capital for its Harper Creek Project, a copper-gold-silver project located in south-central British Columbia. Led by Canaccord Genuity, Yellowhead received a bought-deal private placement to the tune of $20 million, through 13,800,000 units of the company at a price of $1.45/share.

According to management, over half of the funds are already earmarked for feasibility studies, of which a NI43-101 Preliminary Economic Assessment has recently been completed. The remaining funds will be used for step out drilling to the East and down-dip to the north to expand the resource. Management’s internal target is to double the resource.

Ron Handford, Executive VP of Corporate Development, stated: “This will fully fund our exploration, feasibility and permitting programs. It will take us all the way up to the point where we’re going to be arranging project financing and starting construction.”

The announcement of the private placement came on the heels of the Company’s Preliminary Economic Assessment results released during PDAC. Thanks to the positive results, the assessment gave the Yellowhead team a favourable reception at the conference.

“We reached a very significant milestone in our preliminary economic assessment numbers which were released on the third day of PDAC,” said Greg Hawkins, Chairman of the Board for Yellowhead Mining. “I think it’s pretty clear that those numbers tell us we have a project. That’s a very serious milestone.”

Of those numbers, the highlights showed: