Yankee Hat Winter 2010 Drilling Update

   Yankee Hat Minerals Ltd. ("Yankee Hat" or the "Company") (TSX VENTURE: KHT) is pleased to announce that drilling on the Fran Property is proceeding as planned. The first two holes will be completed this week, for an anticipated total of up to 700m. Drilling on the remaining 6 holes will continue the second week of January 2011.

The Fran Property is advantageously positioned in Central BC, just 30km away from the Mt. Milligan Cu-Au deposit. All weather road access to the Fran Property means cost effective drilling and significant infrastructure in the area increases the availability of trades and equipment.

The drill program is designed to test the extension of the known high-grade gold zones of the project. Of the 71 holes drilled on the project, previous high-grade intersections include holes FR-07-074 12.9m of 7.39 g/t Au, and FR-06-055 9.55m of 8.21 g/t Au.

The drill program has been designed by Yankee Hat's recently appointed Chief Geologist, Dr. Jean-Philippe Desrochers. Dr. Desrochers has over 17 years of experience in mineral exploration, including 10 years with Aur Resources. He holds a Ph.D. in geology from the University of Montreal. Dr. Desrochers specializes in the field of structural geology applied to ore deposits in the search for Archean lode gold, volcanogenic massive sulfides, porphyry copper, skarn, and epithermal gold deposits. The actual drilling is being coordinated and managed by Equity Exploration Consultants Ltd. ("Equity") based out of Vancouver. Equity has over 22 years of project management experience, and is very familiar with working in gold exploration in central British Columbia.

Mr. Terence Schorn, P.Geo. is a Qualified Person registered in British Columbia as defined by NI-43-101 and has reviewed the technical information this press release contains.

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

P. Bradley Kitchen, Chief Executive Officer

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. 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 may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Yankee Hat Minerals Ltd. David Matousek President 604.697.5790 [e-mail] www.yankeehatminerals.com Investor Cubed Inc. Neil Simon 647-258-3311 or Toll Free: 1.888.258.3323 [e-mail] www.investor3.ca