Columbia Yukon Provides Update On Northwest Transmission Line Project

Columbia Yukon Explorations Inc. (the "Company" or "Columbia Yukon") (TSX
VENTURE:CYU)(FRANKFURT:VOR) is very pleased to report that British Columbia
Hydro and Power Authority ("BC Hydro") has received an environmental assessment
certificate for the proposed Northwest Transmission Line project.


By Information Bulletin, issued by the British Columbia Ministry of Environment
on February 23, 2011, it was announced that Environment Minister Murray Coell
and Forests, Mines and Lands Minister Pat Bell made the decision to grant the
environmental assessment certificate after considering the review led by B.C.'s
Environmental Assessment Office ("EAO"). The proposed $404-million project
includes a 287-kilovolt transmission line, 344-kilometres from the existing
Skeena substation south of Terrace to a new substation near Bob Quinn Lake. The
project would include new access roads, an upgrade to the existing Skeena
substation and construction of the new Bob Quinn substation, which would
incorporate 287-kilovolt line terminations and related equipment. The EAO
assessment report concluded the project is not likely to have significant
adverse effects, based on the mitigation measures and commitments included as
conditions of the environmental assessment certificate.


"We believe that progress on the Northwest Transmission Line project will be
very beneficial to the future development of the Company's Storie Property
molybdenum deposit located near Cassiar, BC (via Hwy 37). The Northwest
Transmission Line project approval is a significant milestone for Columbia Yukon
and others within the region. The power transmission line project is expected to
stimulate much needed development in British Columbia's Northwest region and
will assist in the advancement of several significant mineral resource
deposits," said Ronald Coombes, President and CEO of Columbia Yukon Explorations
Inc.


The project also triggered an environmental assessment under the Canadian
Environmental Assessment Act. Under the Canada-British Columbia Environmental
Delegation Agreement, dated Nov. 6, 2010, the federal environmental assessment
was delegated to the EAO pursuant to subsection 17(1) of the Canadian
Environmental Assessment Act. The EAO prepared a joint assessment
report/screening report for decision-makers. Based on this report, the EAO has
concluded that effects from the project are not significant, subject to
implementation of mitigation measures and commitments agreed to by the
proponent. Before the project can proceed, the proponent will still need to
obtain the necessary provincial licences, leases and other approvals. The
Province was satisfied that the Crown's duties to consult and accommodate First
Nations interest and the Nisga'a Nation's treaty interests have been discharged
as they relate to the decision to grant the environmental assessment
certificate.


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. 


A copy of the full release as issued by the British Columbia Ministry of
Environment is available on the Company's website at www.columbiayukon.com.
Also, for additional information on matters related to the Northwest
Transmission Line project, please visit the Northwest Power Line Coalition's
website at www.highway37.com. 


Columbia Yukon Explorations Inc.

Ronald A. Coombes, President & CEO
(TSXV:CYU)
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