Yankee Hat becomes major player in Tungsten

 tungsten metal Yankee Hat Minerals Ltd. (TSX VENTURE: KHT) ("Yankee Hat"or the "Company") is pleased to announce that it hasentered into an agreement (the "Option Agreement") withStrategic Minerals Ltd. (TSX VENTURE: SMD) to purchase fiveTungsten properties located in the Yukon Territory. Tungsten is an extremely hard, heavy, steel-grey to white metalthat is one of the heaviest of all the elements and consideredremarkable for its robust physical properties and vast uses. In itspurest form it is quite pliant and can be easily processed.Tungsten's alloys and some compounds cannot be substituted in manyimportant applications in different fields of modern technology.Commercially, Tungsten has a wide range of uses, the largest ofwhich is as tungsten carbide, a wear-resistant material used byeach of the mining, petroleum, military, construction, metalworkingand jewelry industries. Tungsten is also widely used in high-techelectronic equipment, due to its high strength and durability. Itcan also be drawn into very thin metal wires that have a highmelting point similar to the temperature on the sun. Yankee Hat's multiple Tungsten acquisitions come during a time ofstrong Tungsten market fundamentals. China, until 2005, was theworld's largest exporter of Tungsten concentrates.Industrialization in China has resulted in the government thererestricting Tungsten exports and this has resulted in dramaticincrease in the price of this strategic metal with severe supplyshortages outside of China. The following is a discussion of the properties including generalplans for future exploration and may include some historicexploration and development information that is not NI 43-101compliant and therefore may not be reliable. The Boot property is situated 30 kilometers south of the RobertCampbell Highway. It was tested with 2,646 meters of diamonddrilling in 20 holes during 1979-80 by Chevron Minerals Ltd.Numerous intersections ranging between 0.5% and 1.5% tungstentrioxide were obtained. The best interval averaged 1.95% tungstentrioxide and 0.6 g/t gold over 5.18 meters. The best surfaceexposure graded 5.88% tungsten trioxide and 1.7 g/t gold across 1.8metres. These values are historical and are not NI 43-101compliant. Drilling to date is too wide spaced to allow for aresource calculation. Approximately 1,000 meters of drilling isplanned for 2008. The main exploration target is a conventionalunderground mine but potential also exists for smaller open pitsthat could be "high-graded" at times when Tungsten pricesare projected to be particularly strong, such as the current marketconditions. The Hidden property is located 15 kilometers west of the SouthCanol Road in the southern Yukon. It hosts stockwork and skarntungsten mineralization that appears to be localized by faultstructures. Soil geochemical and panning surveys have identified a2,000 meter by 800 meter area of strong anomalous results withinwhich is a 600 meter by 250 meter area of extremely anomalousvalues. Previous diamond drilling tested beneath an area of skarnfloat that averaged about 1.2% tungsten trioxide on surface. Thebest hole returned 0.95% tungsten trioxide over 2.13 meters from aclay altered fault that may be a feeder to the skarn. These valuesare historic and not NI 43-101 compliant. The core of thegeochemical panning anomaly has never been drilled and will be themain target of a 900 meter drill program planned for 2008. Theobjective of this program and future drilling will be to outline anopen pitable resource. It is Yankee Hat's plan to set up a base camp this summer either onthe Boot property or near the recently optioned Rare Earth ElementLancer Project (see April 8, 2008 Press Release) which is situatedbetween the Boot and Hidden properties. From this base camp, a crewwill conduct extensive drill programs on each of the threeproperties. The Track property is drill ready. A 2007 geophysical surveyidentified a pronounced magnetic low extending south from apreviously drilled skarn showing. The anomaly is in an overburdencovered area that has not been drill tested. Previous drilling atthe north end of the anomaly returned an intersection grading 0.34%tungsten trioxide over 12.8 m. No work is planned at the Trackproperty for 2008.