Columbia Yukon to trade on the ASE July 25, 1995.

VANCOUVER, British Columbia--(BUSINESS WIRE)--July 24, 1995-- Columbia Yukon Resources Ltd. (Alberta Stock Exchange: CYR) (the "Company") announces that the application for listing of its common shares on The Alberta Stock Exchange (the "Exchange") has been approved and the shares will be listed and posted for trading on the Exchange on July 25, 1995.

Pursuant to a special warrant private placement in the Provinces of Alberta and British Columbia which closed July 18, 1995, the Company has issued 1,600,000 special warrants at a price of $0.80 per special warrant for gross aggregate proceeds of $1,280,000. Each special warrant is exercisable into one Unit at no additional cost until the Qualification Date, being the earlier of July 18, 1996 and the fifth business date after a final receipt for a prospectus qualifying the special warrants in Alberta and British Columbia is issued. Each Unit will be comprised of one common share, one flow-through common share and one warrant. Each warrant will be exercisable upon payment of $0.90 per share into one further common share until two months after the Qualification Date. If the Qualification Date does not occur prior to November 15, 1995, the Company will issue on a pro rata basis, an additional 10 per cent of the Units as a penalty. Yorkton Securities Inc., Global Securities Corporation and Pacific International Securities Inc. acted as the Company's agents in respect of such offering.

The Company has contracted MPH Consultants Ltd. of Toronto as project managers for the work to be carried out on the approximately 12,000 claims owned or optioned by the Company in Labrador. Field camps have been established in Labrador and airborne geophysical surveys and a lake sediment sampling program have been started.

This first phase work is required for selecting targets for further evaluation by ground surveys and possibly drilling. All information is being held by MPH at the request of the Company because of ongoing negotiations with potential joint venture partners on some of the claims. Such data will be reviewed by the Company in the course of the next few weeks and after negotiations are substantially completed.

The Company has been proceeding with the work in order to cover as much of the claim area with these first phase surveys as possible and to allow time for ground evaluation of anomalies before the anticipated snow cover of late September. Two airborne survey systems are under contract from Aerodat Surveys Ltd. and two support helicopters are being used for moving lake sediment samplers and ground crews. A full season charter has been made with a Labrador air charter operator for fixed wing support in order to avoid the delays of spot charters.

The work to date has covered approximately 25 percent of the Company's claims and is proceeding in a most satisfactory fashion as far as the scheduling of field work is concerned. The surveys are being carried out in the Harp Lake area of Labrador at this date. Claims in this area cover some known showings of copper and nickel mineralization and are considered to be very prospective for mineralization. The crews are expected to move north to the Voisey Bay - Nain area in approximately two weeks, depending on weather.

The company has entered into negotiations with several joint venture partners on various of the Company's claims in Labrador. The Company hopes to be able to finalize some of these joint venture agreements over the next few weeks.

-0-

Note: The Alberta Stock Exchange nor any other regulatory body has reviewed this news release and therefore do not accept responsibility for the adequacy or accuracy of this release.

CONTACT: Daniel B. Evans, 604/683-3070 REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or