Columbia Yukon - Assay Results - ML 1506, Alliger Lake.

VANCOUVER, British Columbia--(BUSINESS WIRE)--May 21, 1996--COLUMBIA YUKON (Alberta Stock Exchange:CYR) ICP analyses have been received from drill hole #2 on ML 1506 in the Alliger Lake area, that intersected 6.5 meters of massive and disseminated sulphides between 33.50 meters to 40.00 meters. The highest grade mineralization was at the base of the sulphide intersection over 2.78 meters (9.1 ft) width where the weighted average grade was 0.64 percent nickel, 0.54 percent copper and 0.096 percent cobalt was reported for the interval.

The average grade of the whole sulphide intersection of 6.5 meters (21 ft) width was 0.44 percent nickel, 0.47 percent copper and 0.069 percent cobalt.

A step out drill hole, 20 meters (66 ft) to the east, has intersected 9.75 meters of similar massive and disseminated sulphides in the same conductor. Samples will be delivered for assay shortly.

These results show strong indications of mineralization in the layered troctolitic rocks on ML 1506. Columbia Yukon is planning to continue systematic exploration with further testing of the claims using deep search geophysical methods and a higher capacity drill rig.

Silverstone Resources Ltd. has an option to earn a 50 percent interest in the claims with Columbia Yukon as the operator.

ON BEHALF OF THE BOARD OF DIRECTORS Benjamin Ainsworth Director

CONTACT: Columbia Yukon Resources Limited

Benjamin Ainsworth, 604/683-3070

604/683-2308 (Fax)

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