Columbia Yukon Signs Traditional Knowledge Protocol with First Nations

West Vancouver, British Columbia � November 2, 2009 � Columbia Yukon Explorations Inc. (the �Company� or �Columbia Yukon�) is pleased to announce that it has entered into a Traditional Knowledge Protocol (the �TK Protocol�) with the Dease River First Nation, Daylu Dena Council, Kwadacha First Nation and Kaska Dena Council (collectively the �BC Kaska�) in connection with the continued exploration and development of the Company�s �Storie� Property molybdenum deposit located near Cassiar, British Columbia.

The TK Protocol will assist the parties in establishing the appropriate traditional knowledge practices and procedures for the collection, management, ownership and integration of Kaska traditional knowledge with regard to the exploration and development of the Storie Property. Under the TK Protocol, the BC Kaska have authorized the Dena Kayeh Institute (�DKI�) as their representative and agent to gather and document existing traditional knowledge that is specific to the Company�s Storie Property project and to provide a �Traditional Knowledge Report and Recommendations� in connection with the Company�s upcoming application for an environmental assessment certificate pursuant to the Environmental Assessment Act of British Columbia.  A key purpose of the TK Protocol is to ensure that the Traditional Knowledge Report and Recommendations are accorded full, fair and equitable consideration to other baseline studies in decision-making processes related to the Storie molybdenum project.

�Columbia Yukon is very pleased to have been able to conclude the Traditional Knowledge Protocol which will enable the Company to move forward with matters related to the Company�s environmental assessment certificate application. We also look forward to working with the BC Kaska to conclude a SEPA (a detailed Social-Economic Participation Agreement) which we believe will bring economic opportunities to the BC Kaska and to the region generally and provide certainty for Columbia Yukon�s Storie Property molybdenum deposit project�, said Douglas Mason, Chairman of Columbia Yukon.

Chief Cat Lee of the Dease River First Nation stated, �The BC Kaska consider the signing of this TK Protocol to be a progressive step forward in our relationship with Columbia Yukon.  This Protocol acknowledges the importance of Kaska knowledge of our territory and will ensure that traditional knowledge is weighed equally with western science in the design, planning and potential mitigation measures with respect to this project.  Our peoples have occupied the traditional territory from time immemorial and our knowledge of the wildlife, plants and waters of our land are vast and enriched by generations.  We expect this knowledge to be respectfully considered in all regulatory processes in light of this Protocol.�

George Miller, Chair of the Kaska Dena Council, added, �We are proud to have positive, cooperative and beneficial relationship with Columbia Yukon.  This Protocol acknowledges not only the important integration of traditional knowledge into the regulatory review of this project within our territory, but it ensures that the Kaska Dena remain the exclusive owners of our traditional knowledge.  A very important aspect of this Protocol is that the Kaska collect and manage all traditional knowledge through our own institution, the Dena Kayeh Institute.  This affirms our governance and the importance the Kaska place on the role of our traditional knowledge should play in government-to-government decision-making.�

About Columbia Yukon Explorations Inc.

Columbia Yukon is a Canadian mineral exploration company focused on the development of its Storie Property molybdenum deposit situated about 6 km southwest of Cassiar, British Columbia. The Storie Property molybdenum deposit has an April 2009 updated NI 43-101 compliant Measured and Indicated Resource of 139.82 million tonnes grading 0.064% Mo (at a cut-off of 0.030% Mo) and 58.39 million tonnes of Inferred Resource grading 0.059% Mo (at a cut-off of 0.030% Mo). Cassiar, British Columbia is located 15 km by road west of Highway 37 which connects to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south.

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed �forward-looking statements�. All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.