Columbia Yukon Completes Phase I Sampling in Labrador.

VANCOUVER, BC--(BUSINESS WIRE)--Aug. 15, 1995--COLUMBIA YUKON RESOURCES (Alberta Stock Exchange:CYR) Columbia Yukon Resources Ltd. (the "Company") and its joint venture partner, Yanks Peak Resources Ltd. ("YPR") have completed their phase I airborne geophysical and ground sampling on two claim blocks in Labrador.

In the 100 claim block 2766 in the Harp Lake area character samples taken have returned initial assay results of up to 0.74 percent nickel and up to 0.083 percent cobalt. Samples are now being assayed for the Platinum Group Minerals, results are expected shortly. YPR owns 85 percent of these claims with the Company owning 15 percent. The Company also has an option to earn an additional 35 percent interest in the claim block by expending $500,000.00 over a two year period on the property.

Two large gossans have been discovered on the 65 claim block, YACO 1 claims located 7km. south of the Diamond Fields discovery property. The gossans have had a sampling program completed and all sample materials are now being assayed.

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CONTACT: Daniel B. Evans

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