Harper Creek Drill Hole HC10-82 Confirms Mineralization Beyond Northern Limit of Drill Holes in 2010 Resource Model

Yellowhead Mining Inc. (TSX VENTURE:YMI) is pleased to report the results from the seventh drill hole of the on-going winter drill program. This hole, HC10-82, is part of a three-hole fence (including historical holes J-33 and J-35) at the north-eastern limit of the resource on Section 305420E. Hole HC10-82 is the most northerly drill hole completed at the Harper Creek deposit to date. It is located 285 metres north of hole J-33 (on section) and 480 metres north and 200 metres west of Hole HC10-80 (reported on February 22, 2011).

The significant intersections from Hole HC10-82 are presented in the table below.

Significant Intersections - 0.2% Cu Cut-off
Hole	Interval (m)			Results
Hole	From	To	Length	Cu %	Ag ppm	Au ppb
HC10-82	253.40	279.32	25.92	0.25	0.7	12
	319.25	372.45	53.20	0.37	1.2	61
	407.25	414.20	6.95	0.31	2.3	22
	450.32	458.71	8.39	0.28	1.6	7
	561.45	565.54	4.09	0.33	1.8	19

Please refer to the Cross Section Map [ http://www.yellowheadmining.com/i/pdf/CrossSection305420E-82.pdf ].

And Drill Plan Map [ http://www.yellowheadmining.com/i/pdf/DDH-PlanMap2011-03-05.pdf ] or available at: [ www.yellowheadmining.com ].

Ian Smith, Chief Executive Officer, stated, "The location of drill hole HC10-82 represents a significant step-out and the results confirm continuity of mineralization within and beyond the 2010 NI43-101 Resource pit, at the northern limits of that resource and demonstrates the potential to increase the resource down-dip to the north and at depth."

Laboratory assays lag the drilling and logging by approximately six weeks. The program is being managed by CME Consultants Inc. ("CME").

HISTORICAL DRILL RESULTS

The company's program of resampling historical core for precious metals continues in parallel with new drilling.

A total of 374 samples representing 607.19 metres of core has been returned from three holes since sampling resumed in January 2011. This brings the total amount of core that has been resampled by YMI to 108 holes from which 7,421 samples (15, 843.71m) have been analysed for precious metals. When the resampling program is completed this Spring, YMI expects to have close to 72% of historical holes resampled for precious metals.

Results from the two historical holes that are on section with hole HC10-82 are presented in the table below.

Significant Intersections - 0.2% Cu Cut-off
Hole	Interval (m)			Historical Results	Resampling Results
Hole	From	To	Length	Cu %	Ag ppm	Au ppb
J-33	219.46	225.55	6.09	0.46	2.8	30
	256.03	320.04	64.01	0.57	NA¹	NA¹
incl	265.18	286.51	21.33	0.63	1.9	136
	329.18	335.28	6.10	0.38	0.8	23

¹ No core available from 247.80 to 262.43 metres

Significant Intersections - 0.2% Cu Cut-off
Hole	Interval (m)			Historical Results	Resampling Results
Hole	From	To	Length	Cu %	Ag ppm	Au ppb
J-35	164.59	173.74	9.15	0.24	0.9	38
	179.83	207.26	27.43	0.35	NA²	NA²
incl	185.96	187.45	1.49	0.39	2.6	135
and	192.02	195.22	3.20	0.68	2.2	157
	213.36	237.74	24.38	0.34	NA³	NA³
	246.89	268.22	21.33	0.22	0.7	12
incl	228.60	233.17	4.57	0.55	1.5	118

²No core available from 201.78 to 208.79 metres

³ No core available from 212.45 to 214.27 metres

Please refer to the plan map showing the status of the resampling program [ http://www.yellowheadmining.com/i/pdf/DDH-PlanMap2011-03-05-Resampled.pdf ] Historical Core Resampling, or available at: [ www.yellowheadmining.com ].

HARPER CREEK PROJECT

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 met-volcanic and met-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 3% NSR royalty on 775 ha and a 2.5% NSR royalty on 618 ha, which includes an estimated 3.3 million tonnes of resource expected to be mined starting in year nine of the mine plan. 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.

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.

N@N

Harper Creek Drill Hole HC10-82 Confirms Mineralization Beyond Northern Limit of Drill Holes in 2010 Resource Model