NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Yellowhead Mining Inc. (TSX VENTURE:YMI) is pleased to report the results from
the first drill hole of an ongoing 4,000 meter (8 hole) diamond drilling program
designed to expand the current open pit resources, which is expected to be
completed mid-January 2011. This program is being managed by CME Consultants
Inc. ("CME"). 


Drill hole HC10-76 is part of a three-drill-hole fence through the western part
of the deposit designed to test depths below the historical drill holes of the
early 1970's. The drill hole location is shown on the attached plan map. The
drill hole intersected numerous intervals of significant copper mineralization
which can be grouped into four principal copper horizons.


A complete list of significant intersections is presented in the table below. 

Please refer to the Cross Section Map -
http://www.yellowheadmining.com/i/pdf/Cross-Section-Map.pdf


Please refer to the Drill Plan Map -
http://www.yellowheadmining.com/i/pdf/Drill-Plan-Map.pdf




---------------------------------------------------------------------------
Significant intersections                                                  
---------------------------------------------------------------------------
                         Interval (m)                      Results         
Hole      -----------------------------------------------------------------
                  From         To      Length      Cu %    Ag ppm    Au ppb
---------------------------------------------------------------------------
HC10-76          13.00      40.20       27.20      0.49       1.4        38
---------------------------------------------------------------------------
including        18.57      22.93        4.36      1.69       3.0        55
---------------------------------------------------------------------------
                 49.87      83.00       33.13      0.35       1.1        61
---------------------------------------------------------------------------
                 87.00      88.39        1.39      0.20       0.7        10
---------------------------------------------------------------------------
                 99.50     107.50        8.00      0.26       2.3        29
---------------------------------------------------------------------------
                189.94     193.12        3.18      0.47       3.0        14
---------------------------------------------------------------------------
                203.00     207.00        4.00      0.85       6.3        89
---------------------------------------------------------------------------
including       204.00     206.00        2.00      1.36       9.6       140
---------------------------------------------------------------------------
                212.50     236.58       24.08      0.44       3.6        65
---------------------------------------------------------------------------
                241.97     250.23        8.26      0.56       3.6        36
---------------------------------------------------------------------------
                282.00     299.22       17.22      0.77       4.7        61
---------------------------------------------------------------------------
including       282.00     289.00        7.00      1.42       8.2       100
---------------------------------------------------------------------------
                332.50     335.00        2.50      0.25       0.8        10
---------------------------------------------------------------------------
                342.00     346.00        4.00      0.49       2.5        20
---------------------------------------------------------------------------
                381.00     382.00        1.00      0.20       1.3        15
---------------------------------------------------------------------------
                388.00     389.50        1.50      0.25       1.0        35
---------------------------------------------------------------------------



The top horizon in-filled and proved the continuity of the mineralization within
the current proposed pit outline. The horizon includes multiple copper zones
including 0.49% Cu over 27.20m, and 0.35% Cu over 33.13m. Numerous high grade
intervals over shorter intervals will add to the overall resource at a 0.15% Cu
cutoff.


The remaining three copper horizons extend mineralization below the current pit
limits in excess of 125 meters. These zones include broad intervals such as
0.44% Cu over 24.08m and narrower, higher grade material of 1.42% over 7.00m (or
approximately 0.66%Cu over a 15m bench height). These horizons are shown on the
attached cross-section 303880E.


Harper Creek is a copper-gold-silver volcanogenic sulphide deposit with an
indicated resource of 4,000,000,000 pounds of copper and inferred resource of
500,000,000 pounds of copper plus as yet an unquantified resource of gold and
silver. Mineralization occurs as a series of tabular bodies hosted within the
Eagle Bay Assemblage volcanic and sedimentary rocks.


Ian Smith, Chief Executive Officer, stated "The results for hole HC10-76
demonstrate the potential to increase the resource within the established
resource surface outline, by drilling deeper than the historical drilling from
the 1960's and 1970's."


Qualified Person

Christopher O. Naas, P.Geo. B.Sc., Project manager for Yellowhead's Harper Creek
Project, is a qualified person as defined by National Instrument 43-101 and
prepared or reviewed the preparation of the scientific and technical information
in this press release with respect to the assay results from the Harper Creek
drill program.


Mr. Naas has practiced in his profession continuously since 1987 and has been
involved in mineral exploration for precious and/or base metal in North America,
South America and Africa.


Sample Collection, Analyses, and QA-QC

All core processing was undertaken by CME personnel. Core was cut by electric
motorized rock saw with half core shipped to Eco Tech Laboratory, part of the
Stewart Group (Eco Tech), in Kamloops, BC for sample preparation and analysis.
Drill core samples were analyzed for gold by fire assay with an AA finish and
multi-elements by total digestion ICP-ES. Core samples returning greater than
2,000 ppm copper were assayed for copper. In addition to control samples
inserted by CME, the analytical laboratory routinely inserted their own control
samples, which consisted of standards, blanks and sample repeats.


About Yellowhead Mining Inc.

Yellowhead has a 100% interest in the Harper Creek Project subject to the
payment of a royalty capped at $2.5 million, adjusted for inflation, on claims
within the NI 43-101 resource. The Harper Creek Project is a large
copper-gold-silver project located in south-central British Colombia,
approximately 150 kilometers by highway from Kamloops.


Forward-Looking Statements 

Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities laws.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to a variety of
risks and uncertainties and other factors that could cause actual events or
results to differ materially from those anticipated in the forward-looking
statements, including, among others, the accuracy of mineral grades and related
assumptions, inherent operating risks, planned expenditures, proposed
exploration and development at the Harper Creek Project, operating and economic
aspects of the Harper Creek Project, as well as those risk factors identified in
the Filing Statement filed under the Company's SEDAR profile. Yellowhead
undertakes no obligation to update forward-looking information if circumstances
or management's estimates or opinions should change except as required by law.
The reader is cautioned not to place undue reliance on forward-looking
statements. More detailed information about potential factors that could affect
financial results is included in the documents filed from time to time with the
Canadian securities regulatory authorities by Yellowhead.
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