AGM Documents 3

Yoho Resources Inc. Announces Extension of Short Term Loan Facility and Issue of Warrants

Calgary, Alberta – January 3, 2008. Yoho Resources Inc. (“Yoho” or the “Company”) announces that it has entered into an agreement with the private lender under Yoho's short-term loan facility to extend the maturity date of the loan from January 3, 2008 to January 3, 2009. Currently, $5 million of the original $6 million is drawn under this facility. This loan facility was entered into on December 29, 2006 and was extended to mature on January 3, 2008. The proceeds of the loan were used in December 2006 to partially fund Yoho's purchase of properties in northeast British Columbia. The loan bears interest at bank prime rate plus 2%, is repayable in full by Yoho at any time without penalty and is fully subordinated to Yoho's lending facility with the National Bank of Canada.

In connection with the extension of the maturity date of the loan, Yoho has agreed to issue to the private lender an aggregate of 500,000 common share purchase warrants (the "Warrants"), each Warrant entitling the lender to purchase one common share of the Corporation issued on a "flow-through" basis pursuant to the provisions of the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of $2.75 per Flow-Through Share on or before June 30, 2008. The Warrants, and the common shares issuable on exercise thereof, are subject to a hold period of four months and a day from the date hereof.

Yoho Resources Inc. 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 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.