Columbia Yukon Explorations Inc announced that it has, subject to regulatory approval, acquired twelve mineral claims, comprising 2,329 hectares adjacent to the company's Storie Property molybdenum deposit located near Cassiar in British Columbia.

The additional property has been acquired by Columbia Yukon as a potential alternate tailings and mill site for the future development of the company's molybdenum project.

The additional property is being acquired from Eveready Resources Corporation of Calgary in Alberta. The company previously acquired its original Storie Property claims from Eveready under an agreement dated March 20th 2006.

In consideration for the Additional Property, the company has agreed to issue 650,000 shares to Eveready, and as well, Eveready has retained a 5% NSR on the Additional Property.

Additionally, as part of the Agreement for the acquisition of the Additional Property, the buyout of Eveready's 2.5% NSR on the original Storie Property claims has been increased by USD 1,200,000 from USD 4,062,000 to USD 5,262,000.