Yankee Hat Announces CDN$1,000,000 Financing Completed

VANCOUVER, BRITISH COLUMBIA, Jul 24, 2008 (Marketwire via COMTEX) -- YKHTF | Quote | Chart | News | PowerRating -- Yankee Hat Minerals Ltd. ("Yankee Hat" or the "Company") (TSX VENTURE:KHT) is pleased to announce that the Company has completed its non-brokered flow-through private placement (the "Offering") of 6,666,667 common shares (the "Shares") in the capital of the Company at a price of CDN$0.15 per share for an aggregate gross proceeds of $1,000,000.

In connection with the Offering, the Company has paid finder's fees of CDN$49,245 in cash equal to 7% of CDN$703,500 aggregate gross proceeds raised from the sale of 4,690,000 Shares subscribed by the subscribers introduced to the Company by the finders.

Insider (Y) / Pro Group (P) Participation:

Christopher Hunt P 150,000

Benard Hensel P 200,000

Bob Verhelst P 150,000

Margaret Bahcheli P 150,000

Pauline Brown P 50,000

Tumer Bahcheli P 535,000

P. Bradley Kitchen Y 196,333

Cale Thomas Y 147,000

Tarbo Resources Ltd. Y 100,000

The Shares issued from the Offering are subject to a hold period until November 16, 2008 in accordance with the policies of the TSX Venture Exchange. This Offering is subject to final TSX Venture Exchange approval.

The net proceeds of the private placement will be used for exploration and development on the Company's projects.

ON BEHALF OF THE BOARD OF DIRECTORS

P. Bradley Kitchen, President, CEO, and Director

This news release has been prepared by management. This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or achievements implied by these forward looking statements. We seek safe harbour.

SOURCE: Yankee Hat Minerals Ltd.

IR Pro Communications (Vancouver) Nance Massicotte Corporate Inquiries (604) 507-3377 or Toll Free: 1-866-503-3377 Email: nance@irprocommunications.com Bay Street Connect (Toronto) Gus Garisto (416) 607-6023 Email: gus@baystreetconnect.com AGORACOM Investor Relations Investor Relations Email: KHT@agoracom.com Website: http://www.agoracom.com/IR/YankeeHatMinerals

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index