NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Yellowhead Mining Inc. (TSX VENTURE:YMI) is pleased to report the results from
its fourth drill hole of the winter diamond drilling program. This hole, HC10-79
is part of a three-hole fence (including HC10-80 and HC10-81) near the eastern
limit of the resource on Section 305620E, and 1,740m east of the three holes,
HC10-76, HC10-77, and HC10-78 recently reported. Drilling is designed to test
the eastern limit of the resource model and identify up-dip extensions to the
mineralization. Section 305620E ranges from 40 to 120 metres east of the most
easterly drill holes (69-H-26, J-11, 96-1 and 96-7) that were used in the
resource calculation. Also on this section, south of hole HC10-79, is historical
hole J-45, which was only partially sampled but which had trace to 3%
chalcopyrite noted in the drill log report from the bottom half of the unsampled
drill hole. This hole demonstrates that the mineralized zone on this section
continues up-dip in the north body of the resource, with the potential to add
considerably to the resource.


The company completed the eight-hole winter drill program on February 1, 2011.
The company intends to continue with an expanded drilling program into the
spring for the expansion of mineralized zones outside the published resource as
well as increasing confidence categories within the published resource.
Laboratory assays lag the drilling and logging by approximately six weeks. The
program is being managed by CME Consultants Inc. ("CME").


A list of significant intervals from Hole HC10-79 is presented in the table below.



------------------------------------------------------------------------
Significant intersections - 0.2% Cu Cut-off
------------------------------------------------------------------------
                               Interval (m)                      Results
            ------------------------------------------------------------

            ------------------------------------------------------------
Hole              From        To    Length      Cu %    Ag ppm    Au ppb
------------------------------------------------------------------------
HC10-79         138.08    236.17     98.09      0.31       1.3        18
------------------------------------------------------------------------
including       161.80    164.14      2.34      1.27       7.3        42
------------------------------------------------------------------------
                249.30    315.00     65.70      0.35       1.3        29
------------------------------------------------------------------------
including       284.68    287.60      2.92      1.37       5.3       121
------------------------------------------------------------------------



Please refer to the Cross Section Map
http://www.yellowheadmining.com/i/pdf/DDH-Cross-Section-Feb-2-2011.pdf


And Drill Plan Map http://www.yellowheadmining.com/i/pdf/DDH-Plan-Map-Feb-2-2011.pdf

or available at www.yellowheadmining.com

Mineralization intercepted at the eastern limit of the 2010 NI43-101 resource
block model has identified 98.09m(1)averaging 0.31% Cu, 0.018 g/t Au and 1.3g/t
Ag from 138.08m to 236.17m, including 2.34m @ 1.27% Cu, 0.042 g/t Au and 7.3 g/t
Ag from 161.80m to 164.14m; and 65.70m(1) @ 0.35% Cu, 0.029 g/t Au and 1.3 g/t
Ag, from 249.30m to 315.00m including 2.92m averaging 1.37% Cu, 0.121 g/t Au and
5.3 g/t Ag from 284.68m to 287.60m . All grades are reported at a 0.20% Cu
cut-off.


Ian Smith, Chief Executive Officer, stated "The results for hole HC10-79
demonstrate the potential to increase the resource along strike to the east and
up-dip to the south. This is strongly supported by the results of extensive
aeromagnetic and geochemical surveys and surface mapping and sampling of
outcropping sulphides which identify drill targets extending some 3.0km to the
east of the current eastern pit limit. Hole HC10-79 continued to prove
continuity of mineralization within the 2010 NI43-101 Resource pit outline as
well as identify up-dip extensions to the mineralization within and below that
pit limit."


Harper Creek is a copper-gold-silver volcanogenic sulphide deposit with an
indicated resource of 569 million tonnes grading 0.32% Cu (4,010,000,000 pounds
of copper), plus an inferred resource of 62.7 million tonnes grading 0.33% Cu
(460,000,000 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.


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.


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 Limited, 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 in the ICP-ES process were then 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.


(1) down-dip dimensions are along the drill hole and approximate to a true width
of the mineralization
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