AGM Documents 3

Yoho Resources Inc. Enters Into A Purchase And Sale Agreement To Acquire Oil And Gas Properties And Announces Further Details Respecting Private Placement.

Calgary, Alberta – December 19, 2006. Yoho Resources Inc. (“Yoho” or the
“Company”) is pleased to announce that it has entered into a purchase and sale agreement
to acquire a limited partnership with petroleum and natural gas assets in British Columbia
for a purchase price of $25.115 million, subject to working capital adjustments. The
transaction is scheduled to close on or about December 29, 2006.

Yoho is also pleased to announce further details respecting the private placement
financing being undertaken on its behalf by a syndicate of investment dealers, led by
FirstEnergy Capital Corp. and including Peters & Co. Limited, Sprott Securities Inc. and
Westwind Partners Inc. Yoho expects to issue up to 2,000,000 common shares priced at
$4.90 per share and up to 800,000 flow through common shares priced at $6.25 per share
in the placement, to raise gross proceeds of $14.8 million. The private placement is
subject to TSX Venture Exchange approval and closing is expected to occur on or about
December 29, 2006. Proceeds from the placement will be used to partially fund the
acquisition of the northeast British Columbia properties and to fund Yoho’s other capital
expenditures.

Yoho Resources Inc. is a Calgary based junior oil and natural gas company with
operations focusing in the northwest Peace River Arch of Alberta. The common shares
of Yoho 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.

For more information please contact:

Wendy S. Woolsey
Vice President, Finance and CFO
Yoho Resources Inc.
Phone: (403) 537-1771
www.yohoresources.ca

The TSX Venture Exchange has neither approved nor disapproved the contents of this
press release.



CAUTIONARY STATEMENTS

Certain statements regarding Yoho Resources Inc. include management’s assessments of future plans and operations,
may constitute forward-looking statements under applicable securities laws and necessarily involve known and
unknown risks and uncertainties, most of which are beyond Yoho's control. These risks may cause actual financial and
operating results, performance, levels of activity and achievements to differ materially from those expressed in, or
implied by, such forward-looking statements.

Such factors include, but are not limited to: the impact of general economic conditions in Canada and the United States;
industry conditions including changes in laws and regulations including adoption of new environmental laws and
regulations, and changes in how they are interpreted and enforced; competition; the lack of availability of qualified
personnel; fluctuations in commodity prices; the results of exploration and development drilling and related activities;
imprecision in reserve estimates; the production and growth potential of Yoho's various assets; fluctuations in foreign
exchange or interest rates; the ability to access sufficient capital from internal and external sources; and obtaining
required approvals of regulatory authorities.

Accordingly, Yoho gives no assurance nor makes any representations or warranty that the expectations conveyed by
the forward-looking statements will prove to be correct and actual results may differ materially from those anticipated
in the forward looking statements. Yoho undertakes no obligation to publicly update or revise any forward-looking
statements.