VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 06/02/11

Yellowhead Mining Inc. ("Yellowhead") (TSX VENTURE: YMI) is pleased to report the results of its Annual and Special Meeting on May 19, 2011.

Board of Directors

The number of Directors of the Board was fixed at six, an increase from five previously. Appointed were Tookie Angus, David Dickens, Andy Graetz, Thomas E. Gregory Hawkins, Christopher Naas and Ian Smith. Subsequent to the Meeting the Board exercised its right to increase the number of Directors to seven and appointed Morgan Li as a Director. Mr. Naas and Mr. Li were previously Directors of Yellowhead's subsidiary Harper Creek Mining Corp.

Auditor

Smythe Ratcliffe, Chartered Accountants, were appointed as auditors of the Company for the ensuing year.

2011 Stock Option Plan

The 2011 Stock Option Plan was approved, subject to regulatory approval.

Harper Creek Project

Harper Creek is a copper-gold-silver volcanogenic sulphide deposit with a measured and indicated resource of 563.2 million tonnes grading 0.31% Cu (3.6 billion pounds of copper) plus .032 g/t gold and 1.08 g/t silver, plus an inferred resource of 117 million tonnes grading 0.29% Cu (0.7 billion pounds of copper). Mineralization occurs as a series of tabular bodies hosted within the Eagle Bay Assemblage metavolcanic and metasedimentary rocks.

About Yellowhead Mining Inc.

Yellowhead has a 100% interest in the Harper Creek Project, (subject to the payment of a 3% NSR royalty capped at $2.5 million, adjusted for inflation) and an additional 2.5% NSR royalty on an estimated 3.3 million tonnes of ore which is expected to be mined beginning in year nine within the NI 43-101 resource. The Harper Creek Project is a large copper-gold-silver project located in south-central British Columbia, approximately 150 kilometers by highway from Kamloops. A Preliminary Economic Assessment Report, which demonstrated the technical and economical viability of Harper Creek, was completed at the end of March and filed on SEDAR on 1 April, 2011 and can be viewed on www.sedar.com.

FORWARD-LOOKING STATEMENTS AND CAUTIONARY DISCLAIMER

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 Company's Annual Information Form 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.

This news release includes disclosure of scientific and technical information, as well as information in relation to the calculation of resources, with respect to the Harper Creek Project. Yellowhead's disclosure of mineral resource information is governed by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as may be amended from time to time by the CIM ("CIM Standards"). There can be no assurance that mineral resources will ultimately be converted into mineral reserves. Mineral resources are not mineral reserves and do not have demonstrated economic viability. This news release uses the terms "measured", "indicated" and "inferred" resources. U.S. persons are advised that while such terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. "Inferred Resources" have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resources will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred resources may not form the basis of feasibility or other economic studies. U.S. persons are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. U.S. persons are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.

Neither the TSX Venture Exchange Inc. 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.

Contacts:
Yellowhead Mining Inc.
Ronald Handford
Executive Vice President, Corporate Development
604.230.4263
rhandford@yellowheadmining.com
www.yellowheadmining.com

Yellowhead Mining Inc.
Anita Datt
Investor Relations
604.273.5597 or 604.916.7175
info@yellowheadmining.com / adatt@yellowheadmining.com
Twitter: http://twitter.com/YMI_Mining