VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 26, 2010) - The Board of Directors of Yankee Hat Minerals Ltd. (TSX VENTURE:KHT) ("Yankee Hat" or the "Company"), is very pleased to announce the appointment of David Matousek as President.

Mr. Matousek has been actively involved in the minerals exploration business over the last several years. He has been a feature presenter at various international mining and exploration events and in doing so he has made important and influential contacts within the precious metals capital markets. Mr. Matousek has worked in the brokerage industry and has experience in the mining finance sector. He holds a BBA (Finance) from Simon Fraser University. Mr. Matousek's role with the Company will focus on strategy and corporate communication.

"With the upcoming financing and a new focus on gold exploration on the Company's Fran Property, Yankee Hat is excited to have a new face representing the Company. Dave's energy and communication abilities will be a great addition to the Company as we explore the Fran," stated P. Bradley Kitchen, Chief Executive Officer.

The Company is also pleased to announce the opening of a $3,500,000 financing (the "Offering").

The Offering will consist of i) up to $2,000,000 in flow-through units, comprised of one common share at a purchase price of $0.075 and one full warrant exercisable at a price of $0.20 for a period of one year after closing (the "FT Units"); and ii) up to $1,500,000 in non-flow-through units, comprised of one common share at purchase price of $0.05 and one full warrant exercisable at a price of $0.20 for a period of one year after closing (the "NFT Units"). Of the $2,000,000 FT Units, $1,500,000 will be placed through an arrangement agreement entered into with Oberon Capital Corp ("Oberon"). Oberon will place these units by way of a flow-through donation financing.

In connection with the financing, the Company will be awarding a finder's fee of 9% cash and 9% finder's warrant (the "Finder's Warrants"), to qualified persons assisting the company in locating subscribers to the Offering. The Finder's Warrants will be exercisable at a price of $0.10 for a period of one year from issuance.

The proceeds from the Offering will be used for a summer/fall drill program on the Company's Fran Property and general corporate purposes.

The Offering and Mr. Matousek's appointment will remain subject to TSX Venture Exchange and regulatory approval.

About Yankee Hat Minerals Ltd.

Yankee Hat Minerals Ltd. is a publicly held resource company that utilizes its management's expertise in mineral exploration and evaluation, and financial acumen, to identify, acquire, and develop mineral prospects in mining friendly jurisdictions with the potential to host large-scale discoveries. The company strategically focuses on commodities that have strong underlying price fundamentals such as gold and precious metals, rare earth elements and tungsten. The Company's website at www.yankeehatminerals.com and public filings at www.sedar.com provide additional information on its projects and other information with respect to its management and operations.

ON BEHALF OF THE BOARD

"Brad Kitchen"

P. Bradley Kitchen, Chief Executive Officer