West Vancouver, British Columbia - June 29, 2007 - Columbia Yukon Explorations Inc. (the "Company") is pleased to announce that, further to its news release dated June 15, 2007, it has closed a non-brokered flow through private placement. The Company has raised an additional $3,000,000 by the issuance of 1,500,000 flow through units (the "FT Units") to one institutional investor at a price of $2.00 per FT Unit.  Each FT Unit consists of one flow through common share and one common share purchase warrant, with each warrant entitling the holder to purchase an additional non-flow through common share at a price of $3.00 for a period of two years from the closing date. In connection with the private placement, finders' fees were paid consisting of $150,000 and 75,000 finders' warrants. Each finder's warrant will entitle the holder to purchase one additional common share for a period of one year at an exercise price of $2.10. All of the securities issued pursuant to the private placement are subject to a hold period expiring on October 29, 2007.

The proceeds from this private placement will be used for exploration and development of the Company's "Storie" molybdenum property located in northern British Columbia.

For further information, contact Mr. Clive Shallow, investor communications, at 604-922-2030 or visit the Company's website at www.columbiayukon.com . 

Columbia Yukon Explorations Inc.

"Douglas L. Mason"
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Douglas L. Mason, Chairman

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