WEST VANCOUVER, BRITISH COLUMBIA--(Marketwire - January 14, 2009) -
Columbia Yukon Explorations Inc. (the "Company" or "Columbia Yukon")
(TSX VENTURE: CYU)(FRANKFURT: VOR) is extremely pleased to announce
additional assay results from the Company's "Storie" property
molybdenum deposit located near Cassiar in northern British Columbia.

Eight additional drill holes (ST08-130, 131, 132, 133, 134, 135, 136
and 137) were completed during the Company's 2008 drilling program
and all eight intersected significant molybdenum mineralization (five
of which holes are located outside of the known NI 43-101 resource).

Drill hole ST08-130 (located 150 metres west of the known Indicated
resource) intersected 423 metres grading 0.057% Mo, including 144
metres grading 0.095% Mo;

Drill hole ST08-131 (located 50 metres west of the known Indicated
resource) intersected 123 metres grading 0.059% Mo, including 12
metres grading 0.117% Mo;

Drill hole ST08-132 (an infill hole designed to reclassify the known
deposit from an Indicated category to a Measured category, and
located on the southern most edge of the Indicated resource)
intersected 143 metres grading 0.055% Mo;

Drill hole ST08-133 (located 150 metres west of the known Indicated
resource on the southern most edge of the deposit) intersected 204
metres grading 0.034% Mo, including 81 metres grading 0.043% Mo;

Drill hole ST08-134 (located 50 metres west of the known Indicated
resource on the southern most edge of the deposit) intersected 37
metres grading 0.059% Mo;

Drill hole ST08-135 (an infill hole designed to reclassify the known
deposit from an Indicated category to a Measured category)
intersected 368 metres grading 0.051% Mo, including 154 metres
grading 0.081% Mo and 65 metres grading 0.117% Mo;

Drill hole ST08-136 (an infill hole designed to reclassify the known
deposit from an Indicated category to a Measured category)
intersected 308 metres grading 0.071% Mo, including 225 metres
grading 0.086% Mo and 78 metres grading 0.126% Mo;

Drill hole ST08-137 (located 100 metres west of the known Indicated
resource) intersected 276 metres grading 0.054% Mo, including 36
metres grading 0.097% Mo and 141 metres grading 0.067% Mo.

A total of 49 drill holes were completed by Columbia Yukon in its
2008 drilling program on the Storie property. To date, assay results
have been received and reported for 42 drill holes. The assay results
for the remaining 7 drill holes will be reported by the Company as
they are received and analyzed.

The assay results for the eight drill holes referred to above are as
follows:

------------------------------------------------------------------
                                                           Average
                From        To   Interval      Average       Grade
Hole Number  (metres)  (metres)   (metres)  Grade (Mo%)  (MoS2%)(i)
------------------------------------------------------------------
ST08-130          18       441        423        0.057       0.095
------------------------------------------------------------------
 including       291       435        144        0.095       0.158
------------------------------------------------------------------
ST08-131         138       261        123        0.059       0.098
------------------------------------------------------------------
 including       249       261         12        0.117       0.195
------------------------------------------------------------------
ST08-132          65       208        143        0.055       0.092
------------------------------------------------------------------
ST08-133         121       325        204        0.034       0.057
------------------------------------------------------------------
 including       244       325         81        0.043       0.072
------------------------------------------------------------------
ST08-134         237       274         37        0.059       0.098
------------------------------------------------------------------
ST08-135          31       399        368        0.051       0.085
------------------------------------------------------------------
 including        93       247        154        0.081       0.135
------------------------------------------------------------------
 including       159       224         65        0.117       0.195
------------------------------------------------------------------
ST08-136          88       396        308        0.071       0.118
------------------------------------------------------------------
 including        88       313        225        0.086       0.143
------------------------------------------------------------------
 including       168       246         78        0.126       0.210
------------------------------------------------------------------
ST08-137          69       345        276        0.054       0.090
------------------------------------------------------------------
 including        69       105         36        0.097       0.162
------------------------------------------------------------------
 including       204       345        141        0.067       0.112
------------------------------------------------------------------
(i) conversion factor: 1% MoS2 equals 0.5999% Mo

The current NI 43-101 Mineral Resource estimate report, as prepared
by Watts, Griffis and McOuat Limited, Consulting Geologists and
Engineers of Toronto, Ontario ("Watts Griffis"), and Mintec, Inc. of
Tucson, Arizona ("Mintec"), has been prepared in compliance with NI
43-101 and presents a review of the geology and Mineral Resources of
Columbia Yukon's Storie property molybdenum deposit. The Company has
filed the NI 43-101 report on www.SEDAR.com and on its website at
www.columbiayukon.com. The assay results from the Company's 2008
drilling program are being reviewed and analyzed by Watts Griffis and
Mintec in connection with the preparation of a further updated NI
43-101 report, the results of which will be announced by the Company
when completed. All of the above holes were drilled using hydraulic
drills producing NQ size core. Most of the core was sawn in half by a
diamond bit rock saw and half of the core was retained and stored in
the core box for permanent record or later reference. The other half
was bagged and sent to Loring Labs of Calgary, Alberta, where it was
crushed and pulverized. A one gram sample was then split out and
dissolved in a four acid complete dissolution and analyzed for
molybdenum using an "AA" (atomic absorption) finish. In addition to
both Loring Labs' and Columbia Yukon's internal QA/QC, every 20th
sample reject pulp is being sent to Acme Analytical Laboratories of
Vancouver, B.C. for inter-laboratory analysis. With the core that was
not split, such core was from certain infill drill holes that were
surrounded by split core holes. This measure was taken to confirm the
Company's core handling procedure and to determine whether a variance
exists between the assay results from such core samples.

This news release has been reviewed and approved by Mr. Arnold
Pollmer, P.Geo., who is acting as the Qualified Person for the
Company's Storie molybdenum project in accordance with regulations
under NI 43-101.

About Columbia Yukon Explorations Inc.:

Columbia Yukon is a Canadian mineral exploration company focused on
the development of its Storie property molybdenum deposit. The Storie
property is situated about 6 km southwest of Cassiar, British
Columbia. Cassiar is located 15 km (by road) west of Highway 37,
which provides access to Watson Lake, Yukon, to the north and Dease
Lake and Stewart, British Columbia, to the south.

Columbia Yukon Explorations Inc.

Ronald A. Coombes, President & CEO

The TSX Venture Exchange has not reviewed this news release and does
not accept responsibility for the adequacy or accuracy this release.

Contacts:
Columbia Yukon Explorations Inc.
Mr. Clive Shallow
Investor Communications
(604) 922-2030
(604) 922-2037 (FAX)
Website: www.columbiayukon.com


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