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Market: TSX
Sector: General Mining
EPIC: CYU
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Columbia Yukon Explorations
www.columbiayukon.com

Columbia Yukon Explorations is a mineral exploration company. Its most advanced property is the Storie molybdenum deposit located near the historic mining camp of Cassiar, B.C. The Storie deposit has a February 2009 NI 43-101 compliant Indicated and Measured Resource of 139.82 M/tonnes grading 0.064% and 58.39 M/tonnes of Inferred Resource grading 0.059% Mo at a 0.030% cut off.

Full Columbia Yukon Explorations profile here
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Columbia Yukon says has enough cash to trade for up to 18 months

3rd Feb 2009, 12:00 am by Andre Lamberti

Columbia Yukon Explorations Inc said it currently has CDN$4 million in cash and receivables which should allow it to trade for 12 to 18 months without having to raise additionial funding.

As part of its 2009 plan, the company will be completing a further updated NI 43-101 mineral resource estimate report for its Storie molybdenum project.

It also plans to continue with its environmental studies, and to commission a more advanced metallurgical study on Storie.

Columbia Yukon chairman Douglas Mason said: “During the past year, the company made tactical decisions to preserve working capital.  This ensured that we would be in a positive cash position to carry through with our strategic plans for 2009 and beyond.

“With a successful 2008 drill program and the updated 2009 NI 43-101 pending, along with considerable cash reserves, Columbia Yukon is preparing to move forward with a planned strategy for the Storie molybdenum deposit which will include positive steps towards the completion of necessary studies and advancing potential strategic partnerships for the development of the Storie property,” he added.

Columbia Yukon has also now completed the buyback of just over 2 million shares for cancellation.  
Insiders and close associates of Columbia Yukon have continued to acquire additional shares out of the market to significantly increase their combined ownership.

Currently, insiders of the company control approximately 5.5 million shares, or 14 percent of the issued capital, and close associates own 2.2 million shares, or 5.7 percent.

Columbia Yukon is a Canadian mineral exploration company focused on the development of its Storie property molybdenum deposit about 6 kilometres southwest of Cassiar, British Columbia.

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