Yellowjacket Announces Exchange Approval of Private Placement

Cranbrook, British Columbia CANADA, May 25, 2012 /FSC/ - Yellowjacket Resources Ltd. (YJK - TSX Venture), ("Yellowjacket" or the "Company") announces it has received a final acceptance letter from the TSX-Venture Exchange for the previously announced private placement (See NR May 04, 2012). Under the terms of the private placement, the Company has issued 7,241,667 non flow-through common share units at a price of $0.15 and 534,667 flow-through common share units at a price of $0.18 for aggregate gross proceeds of $1,187,490.

Each flow-through share unit entitles the holder to purchase an additional one-half of a non flow-through common share in the capital of the Company, and each non flow-through share unit entitles the holder to purchase an additional non flow-through common share in the capital of the Company. The exercise price for each whole common share purchase warrant is $0.30 per share exercisable for a period of thirty months from the date of closing. There will be no early forced exercise option attached to either of the warrants. There were no finders fees or broker warrants issued in connection to the financing.

The proceeds of the Offering will be used for the exploration and development of the Yellowjacket Property, and for general working capital.

One of the directors, Ryan Kalt, Suite 200, 638 - 11th Ave. S.W., Calgary, Alberta T2R 0E2, has subscribed for 6,666,667 non flow-through share units for an aggregate holding of 7,621,667 common shares or 18.8% of the issued shares of Yellowjacket (or 14,288,334 common shares representing approximately 29.7% of the issued and outstanding common shares assuming all outstanding warrants of the Company are exercised).

About Yellowjacket Resources

Yellowjacket Resources was created in December 2011 by way of plan of arrangement and spun-off from Eagle Plains Resources Ltd. (TSX-V:EPL) on a one-for-three share basis to the shareholders of Eagle Plains. Yellowjacket will focus on the development of the Yellowjacket Gold Project.

The Yellowjacket Project is located 9 km east of Atlin, BC and is accessed by all-season road. Hydro-electric power is located within 5km of property boundaries. The project received a B.C. Mines Act permit in July, 2009 for an open pit gold mine and onsite 400 tpd mill and concentrator, processing up to 75,000 tons per year. The permit contemplates a 7-9 year mine life from a series of open pits entirely within an area of disturbed placer workings. Gold may be recovered using a simple gravity concentrating recovery plant without the use of chemicals or additives. Yellowjacket owns both mineral (hard-rock) and placer rights within the Project area. The project is located within the traditional territory of the Taku River Tlingit First Nation who have entered into a formal Impact and Benefits Agreement with respect to the project.


As part of the spinout transaction Eagle Plains holds 15% of the total common shares of Yellowjacket prior to this current financing. Concurrently, Eagle Plains transferred to Yellowjacket its entire interest in the Yellowjacket Project, an additional $600,000 cash and certain investments to provide working capital and exploration funding.

Signed,

"Charles C. Downie"
President and CEO
Yellowjacket Resources Ltd.

For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@yellowjacketresources.com or visit our websites at http://www.eagleplains.com or http://www.yellowjacketresources.com


Cautionary Note Regarding Forward-Looking Statements
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 may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.


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Source: Yellowjacket Resources Ltd. (TSX-V: YJK) http://www.yellowjacketresources.com
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Source: Filing Services Canada (May 25, 2012 - 6:45 PM EDT)

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