Yoho Resources Inc. Announces Fiscal Q3 Financial Results

Yoho Resources Inc. (TSX VENTURE:YO) ("Yoho" or the "Company") has filed today
on SEDAR the financial statements for the nine months ended June 30, 2013 and
the related managements' discussion and analysis ("MD&A"). Copies of these
documents may be found on www.sedar.com.


Highlights



--  Yoho's production during fiscal Q3 2013 averaged 2,415 boe per day.
    Production for the quarter was negatively impacted for the entire month
    of May 2013 by a turn-around at the third party processing facility
    which handles the majority of the Company's production from the Kaybob
    area. Approximately 1,000 boe per day was shut in during May 2013 at
    Kaybob (both Duvernay and other zones), including initial production
    from Yoho's three new wells at Tony Creek (press release April 3, 2013).
    
--  Yoho generated funds from operations for fiscal Q3 2013 of $3.4 million
    ($0.07 per share basic and diluted). A substantial drop in sales price
    for the propane and butane portions of the Company's NGL mix in the
    quarter contributed to reduced field netbacks for the Company. Yoho
    anticipates improved natural gas liquids pricing in the upcoming quarter
    as it has temporarily secured capacity to a higher netback market.  
    
--  Net exploration and development expenditures to date in fiscal 2013 were
    $25.6 million, with the Company participating in drilling 2 (1.5) net
    gas wells at Kaybob and constructing pipelines and surface facilities at
    both Nig and Kaybob. 
    
--  Reduced capital expenditures during fiscal Q3 of $1.6 MM resulted in
    total net debt at June 30, 2013 of $33.1 million on a bank credit
    facility of $56 million. 
    
--  Yoho's current production at Kaybob continues to be restricted by an
    estimated 300 to 400 boe per day (net) due to extremely high line
    pressures on the Tony Creek lateral pipeline which connects to the
    SemCams KA gas plant. Yoho has started the process to install
    compression in the Tony Creek area to alleviate this situation. This
    compression installation is expected to be completed by December 2013.
    Despite the high pipeline pressures, the three Tony Creek Duvernay wells
    demonstrated strong performance and stable condensate rates, averaging
    1,200 boe of gross production during April 2013 and June 2013 (with
    these wells being shut in during May 2013). 



Core Area Updates

Kaybob, Alberta

At Kaybob, Yoho has finalized delineation drilling in the Duvernay resource
play. Plans for development of this resource are currently underway. The Company
has participated in eight horizontal and two vertical wells drilled
approximately equidistant from each other over the Company's land base of almost
14,000 net acres (36,000 gross acres). All of the horizontal wells are currently
producing, with the earliest wells having been on-stream for over two years.
Yoho is extremely pleased with the results of our program to date and we expect
that with further refinements in drilling and completion methods that future
wells will, on average, have higher initial production rates and ultimate
recoveries. Lower drilling and completion costs on a per well basis should also
be attained with the practice of drilling multiple wells from a single surface
location. 


The Kaybob area has seen a substantial increase in activity in the last year
with over 80 wells drilled, drilling or licensed for Duvernay targets. Yoho has
chosen to reduce near term capital expenditures in the Kaybob area, with plans
to drill only key wells that are required for land tenure purposes. Currently,
Yoho has two (0.58 net) wells planned for Kaybob in fiscal 2014. As more wells
are drilled and completed in this area, refinements in completion methods will
continue to emerge, reducing costs and resulting in higher ultimate recoveries
on a per well basis. Current short-term restrictions in liquid handling
facilities and transportation are also expected to be alleviated over the
near-term with the growing activity in the area. The Company is currently
exploring a variety of options to pursue an enhanced development plan for the
property which will incorporate drilling multiple wells from the same surface
location which has shown to reduce per well capital costs. 


Nig, British Columbia

At Nig, Yoho has partially delineated the Montney asset, with four horizontal
wells drilled into the Montney formation (three Upper Montney and one Lower
Montney). The wells were geographically spread out over the previously held 50%
land block of 39,480 gross (19,740 net) acres. In March 2013, the Company
executed a swap with the former partner in the land block, whereby Yoho received
a 100% working interest in the land and the associated two horizontal wells in
the south block of land at Nig and the partner received a 100% working interest
in the land and the associated two horizontal wells in the block to the north.
As a result of this swap, Yoho currently has a 100% working interest in 20,445
acres of land.


Yoho plans to drill an additional horizontal well at Nig in the Upper Montney
this fall to finalize delineation of the Upper Montney liquids rich resource in
the south-west portion of Yoho's landblock. In fiscal 2014, Yoho also intends to
drill the first two well development pad on these lands in the Upper Montney.
Delineation of the Lower Montney resource at Nig is required and is expected to
be initiated by Yoho in 2014.


Outlook 

For fiscal 2013, Yoho's total capital program will be between $26 and $27
million, a reduction of approximately $10 million from original guidance. This
will allow Yoho to properly manage the balance sheet without negatively
affecting the Company's value. Detailed capital expenditure plans for fiscal
2014 are currently being developed.


About Yoho 

Yoho Resources Inc. is a Calgary-based junior oil and natural gas company with
operations focusing in West Central Alberta and northeast British Columbia. The
common shares of Yoho are listed on the TSX Venture Exchange under the symbol
"YO". 


This press release shall not constitute an offer to sell or a solicitation of an
offer to buy the securities in any jurisdiction. The common shares of Yoho will
not be and have not been registered under the United States Securities Act of
1933, as amended, and may not be offered or sold in the United States, or to a
U.S. person, absent registration or applicable exemption therefrom. 


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.


Cautionary Statements

Special Note Regarding Forward-Looking Information

In the interest of providing readers with information regarding Yoho, including
management's assessment of the future plans and operations of Yoho, certain
statements contained in this news release constitute forward-looking statements
or information (collectively "forward-looking statements") within the meaning of
applicable securities legislation. Forward-looking statements are typically
identified by words such as "anticipate", "continue", "estimate", "expect",
"forecast", "may", "will", "project", "could", "plan", "intend", "should",
"believe", "outlook", "potential", "target" and similar words suggesting future
events or future performance. In particular, this news release contains, without
limitation, forward-looking statements pertaining to: the Company's intentions
in respect of enhanced development operations at Kaybob, Yoho's planned capital
expenditure program for the remainder of fiscal 2013, including the estimated
budget and the allocation of capital to the Kaybob Duvernay area and the Nig
area in fiscal 2014; Yoho's estimated average production levels for fiscal 2013
and estimated average production volumes for fiscal Q3 2013; Yoho's drilling
plans for the remainder of calendar 2013 and fiscal 2014; and the sufficiency of
funds, including cash flows and bank debt, to fund Yoho's anticipated capital
program and other matters set forth in the "Outlook" section of this news
release. Readers are cautioned that assumptions used in the preparation of such
information may prove to be incorrect.


With respect to forward-looking statements contained in this document, Yoho has
made a number of assumptions. The key assumptions underlying the aforementioned
forward-looking statements include assumptions that: capital and skilled
personnel will continue to be available at the level Yoho has enjoyed to date;
Yoho will be able to obtain equipment in a timely manner to carry out
exploration, development and exploitation activities; production rates for
fiscal 2013 will be in line with the Company's estimates and type curves; Yoho
will have sufficient financial resources (including cash flows and bank debt)
with which to conduct its anticipated capital program; the current tax and
regulatory regime will remain substantially unchanged; future commodity prices
will be consistent with the Company's current pricing assumptions; pipeline,
processing and other third party facility issues will not persist for time
periods which may have an adverse affect on the Company's plans as forecast;
that Yoho will continue to conduct its operations in a manner consistent with
past operations; the impact of increasing competition; and the ability of Yoho
to add production and reserves through development and exploitation activities.
Although Yoho believes that the expectations reflected in the forward-looking
statements contained in this news release, and the assumptions on which such
forward-looking statements are made, are reasonable, there can be no assurance
that such expectations will prove to be correct. Readers are cautioned not to
place undue reliance on forward-looking statements included in this news
release, as there can be no assurance that the plans, intentions or expectations
upon which the forward-looking statements are based will occur.


By their nature, forward-looking statements involve numerous risks and
uncertainties that contribute to the possibility that predictions, forecasts,
projections and other forward-looking statements will not occur, which may cause
Yoho's actual performance and financial results in future periods to differ
materially from any estimates or projections of future performance or results
expressed or implied by such forward-looking statements. These risks and
uncertainties include, without limitation: risks associated with oil and gas
exploration, development, exploitation, production, marketing and
transportation; loss of markets; volatility of commodity prices; environmental
risks; the inability to access credit and other debt facilities; inability to
obtain drilling rigs or other services; capital expenditure costs, including
drilling, completion and facility costs; unexpected decline rates in wells;
wells not performing as expected; delays resulting from or inability to obtain
required regulatory approvals and ability to access sufficient capital from
internal and external sources; the impact of general economic conditions in
Canada, the United States and overseas; industry conditions; changes in laws and
regulations (including the adoption of new environmental laws and regulations)
and changes in how they are interpreted and enforced; increased competition; the
lack of availability of qualified personnel or management; fluctuations in
foreign exchange or interest rates; stock market volatility; and market
valuations of companies with respect to announced transactions and the final
valuations thereof. Readers are cautioned that the foregoing list of factors is
not exhaustive.


Yoho's actual results, performance or achievement could differ materially from
those expressed in, or implied by, these forward-looking statements and,
accordingly, no assurance can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them do so,
what benefits, including the amount of proceeds, that the Company will derive
therefrom. All subsequent forward-looking statements, whether written or oral,
attributable to the Company or persons acting on its behalf are expressly
qualified in their entirety by these cautionary statements. Additional
information on these and other factors that could affect Yoho's operations and
financial results are included in reports on file with Canadian securities
regulatory authorities and may be accessed through the SEDAR website
(www.sedar.com) or Yoho's website (www.yohoresources.ca).


The forward-looking statements contained in this document are made as at the
date of this news release and Yoho does not undertake any obligation to update
publicly or to revise any of the included forward-looking statements, whether as
a result of new information, future events or otherwise, except as may be
required by applicable securities laws.


BOE Equivalency 

Barrel of oil equivalents or BOEs may be misleading, particularly if used in
isolation. A BOE conversion ratio of 6 Mcf: 1 bbl is based on an energy
equivalency conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the wellhead. Given the value ratio based
on the current price of crude oil as compared to natural gas is significantly
different from the energy equivalency of 6 mcf: 1 bbl, utilizing a conversion
ratio of 6 mcf: 1 bbl may be a misleading indication of value.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Yoho Resources Inc.
Wendy S. Woolsey, CA
Vice President, Finance and CFO
(403) 537-1771
www.yohoresources.ca
Yoho Resources Inc. (TSXV:YO)
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