Columbia Yukon Closes Private Placement

Columbia Yukon Explorations Inc. (TSX VENTURE:CYU)(FRANKFURT:VOR) (the "Company"
or "Columbia Yukon") is pleased to announce that, further to its news release
dated August 20, 2010, Columbia Yukon has closed its non-brokered private
placement (the "Private Placement"). The Company has raised $383,600 by the
issuance of 2,557,333 flow through units (the "FT Units") at a price of $0.15
per unit. Each FT Unit consists of one flow through common share and one share
purchase warrant, with each warrant entitling the holder to purchase an
additional non-flow through common share at a price of $0.15 for a period of two
years from the closing date. All of the securities issued pursuant to this
Private Placement are subject to a hold period expiring on January 28, 2011. 


The Company intends to use the proceeds from the Private Placement for
furthering the exploration of the Company's Storie Property molybdenum project.


About Columbia Yukon Explorations Inc. 

Columbia Yukon is a Canadian mineral exploration company focused on the
development of its Storie Property molybdenum deposit situated about 6 km
southwest of Cassiar, British Columbia. The Storie Property molybdenum deposit
has an April 2009 updated NI 43-101 compliant Measured and Indicated Resource of
139.82 million tonnes grading 0.064% Mo (at a cut-off of 0.030% Mo) and 58.39
million tonnes of Inferred Resource grading 0.059% Mo (at a cut-off of 0.030%
Mo). Cassiar, British Columbia is located 15 km by road west of Highway 37 which
connects to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British
Columbia, to the south. 


Columbia Yukon Explorations Inc.

Douglas L. Mason, Director

(TSXV:CYU)
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