Yellowjacket Announces Metallurgical Study

Cranbrook, British Columbia CANADA, June 28, 2012 /FSC/ - Yellowjacket Resources Ltd. (YJK - TSX Venture), ("Yellowjacket") announces that it has entered into a research partnership with the Robert M. Buchan Department of Mining at Queen's University, Kingston, Ontario. The milling circuit at the Yellowjacket is entirely gravity-based with no chemical additives. The focus of the research project is to identify a clean, sustainable flotation process to increase gold recoveries. Initial test work is underway and preliminary results are expected in the next four to six weeks.

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.

On May 04, 2011, Yellowjacket announced the completion of a private placement for aggregate gross proceeds of $1,187,490 to be used for the exploration and development of the Yellowjacket Property and for general working capital.


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@eagleplains.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.


To view this press release as a webpage, please click on the following link: http://www.usetdas.com/pr/yellowjacket06282012.htm




Source: Yellowjacket Resources Ltd. (TSX-V: YJK) http://www.yellowjacketresources.com
Maximum News Dissemination by FSCwire. http://www.fscwire.com

Source: Filing Services Canada (June 28, 2012 - 10:30 AM EDT)

News by QuoteMedia
www.quotemedia.com