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Press release from Marketwire

Yoho Resources Inc. Announces Closing of Brokered Private Placement

Friday, December 30, 2011

Yoho Resources Inc. Announces Closing of Brokered Private Placement12:18 EST Friday, December 30, 2011CALGARY, ALBERTA--(Marketwire - Dec. 30, 2011) -NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Yoho Resources Inc. ("Yoho" or the "Company") (TSX VENTURE:YO) is pleased to announce the closing of its previously announced brokered private placement of 625,000 common shares of the Company issued on a "flow-through" basis pursuant to the provisions of the Income Tax Act (Canada) (the "Flow-Through Shares") at an issue price of $4.00 per Flow-Through Share for aggregate gross proceeds of $2,500,000 (the "Private Placement"). The Private Placement was led by FirstEnergy Capital Corp. and included Acumen Capital Finance Partners Limited, Haywood Securities Inc., Paradigm Capital Inc., Peters & Co. Limited and CIBC World Markets Inc. (collectively, the "Agents"). In connection with the Private Placement, the Agents were paid a cash commission equal to 5.5% of the aggregate gross proceeds raised by the Company. The Flow-Through Shares issued pursuant to the Private Placement are subject to a four-month hold period from the date hereof, which expires on May 1, 2012. Proceeds of the Private Placement will be used to initially reduce Yoho's existing bank indebtedness, with the gross proceeds from the sale of the Flow-Through Shares used to fund ongoing exploration activities eligible for Canadian exploration expenses which will be renounced in favour of the subscribers of the Flow-Through Shares effective on or before December 31, 2011. Yoho is a Calgary based junior oil and natural gas company with operations focusing in the northwest Peace River Arch of Alberta and northeast British Columbia. The common shares of the Company are listed on the TSX Venture Exchange under the symbol "YO". This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction. The common shares of Yoho will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom. ADVISORY:This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the anticipated use of the proceeds of the Private Placement. Although Yoho believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Yoho can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The intended use of the proceeds of the Private Placement by Yoho might change if the board of directors of Yoho determines that it would be in the best interests of Yoho to deploy the proceeds for some other purpose. The forward-looking statements contained in this press release are made as of the date hereof and Yoho undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.FOR FURTHER INFORMATION PLEASE CONTACT: Wendy S. WoolseyYoho Resources Inc.Vice President, Finance and CFO(403) 537-1771www.yohoresources.caNeither 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.