AGM Documents 3

Yoho Resources Inc. Announces an Operational Update on Recent Drilling and Land Activity

Calgary, Alberta - January 4, 2010 - Yoho Resources Inc. (“Yoho” or the “Company”) is pleased to
provide an operational update with respect to recent drilling and land activity.

Yoho has completed drilling the first horizontal well at Buick Creek, British Columbia, utilizing
underbalanced drilling technology. A total of 640 metres of horizontal section was drilled in the Dunlevy
Formation for an estimated cost of $2.0 million. Sample analysis indicated high quality sandstone
reservoir for the entire horizontal section of the well. Flow rates measured while drilling were variable
but increased over the length of the horizontal section. The reservoir in this area is underpressured as
expected and the anticipated initial stabilized production rate from the well through the existing facilities
in the area will be in the range of 2 to 3 MMcf per day. During a one day flow test, the well flowed at a
stable rate of 2.9 MMcf per day at a 5.6% drawdown. Yoho estimates the Sandface AOF (absolute
open flow) potential of the well to be 12.7 MMcf per day. Yoho has a 97.5% capital expenditure interest
in the well and a 78.5% revenue interest. Pipelining operations will be underway shortly with an
estimated on-stream date of early February 2010. The Company plans to drill several follow up
locations to this well during 2010 at various working interests.

At Two Rivers, British Columbia, where Yoho has a targeted Montney resource play, the Company has
negotiated a pooling with a large producer to expand Yoho’s land holdings from 10 sections to a total of
22 sections (14,080 gross acres). Under the terms of the agreement Yoho’s working interest after the
pooling will average 47%. Yoho has also negotiated a farmin on our partner whereby the Company will
earn an increased interest in certain of the pooled lands by completing an existing well bore in the
Montney formation. The completion operation is expected to proceed in January 2010.

Yoho is also pleased to announce that the Company has secured 5,120 acres (8 sections at 100%
working interest) strategically located on a new resource play focused on the Duvernay Formation
located in the Kaybob area of Alberta. The Company has assembled these lands over the last six
months at extremely attractive prices, relative to the recent highly competitive land sale of December
16, 2009 in the area. Ongoing geological and geophysical work on this play will dictate the timing of
any field work in this area.

Also, Yoho’s lender has completed their annual review of our bank credit facility and has confirmed the
existing credit facility limit of $32 million.

For more information please contact:

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

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

Cautionary Statements

Forward-looking information and statements

This news release contains certain forward–looking information and statements within the meaning of
applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate",
"may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to
identify forward-looking information or statements. In particular, but without limiting the forgoing, this
news release contains forward-looking information and statements pertaining to the following: the
volumes and estimated value of Yoho's oil and gas reserves; the life of Yoho's reserves; resource
estimates; the volume and product mix of Yoho's oil and gas production; future oil and natural gas
prices and Yoho's commodity risk management programs; future liquidity and financial capacity; future
results from operations and operating metrics; future costs, expenses and royalty rates; future interest
costs; the exchange rate between the $US and $Cdn; future development, exploration, acquisition and
development activities and related capital expenditures; the number of wells to be drilled and
completed; the amount and timing of capital projects; operating costs; the total future capital associated
with development of reserves and resources; and forecast reductions in operating expenses.

The recovery, reserve and resources estimates of Yoho's reserves and resources provided herein are
estimates only and there is no guarantee that the estimated reserves or resources with be recovered. In
addition, forward-looking statements or information are based on a number of material factors,
expectations or assumptions of Yoho which have been used to develop such statements and
information but which may prove to be incorrect. Although Yoho believes that the expectations reflected
in such forward-looking statements or information are reasonable, undue reliance should not be placed
on forward-looking statements because Yoho can give no assurance that such expectations will prove
to be correct. In addition to other factors and assumptions which may be identified herein, assumptions
have been made regarding, among other things: the impact of increasing competition; the general
stability of the economic and political environment in which Yoho operates; the timely receipt of any
required regulatory approvals; the ability of Yoho to obtain qualified staff, equipment and services in a
timely and cost efficient manner; drilling results; the ability of the operator of the projects in which Yoho
has an interest in to operate the field in a safe, efficient and effective manner; the ability of Yoho to
obtain financing on acceptable terms; field production rates and decline rates; the ability to replace and
expand oil and natural gas reserves through acquisition, development and exploration; the timing and
cost of pipeline, storage and facility construction and expansion and the ability of Yoho to secure
adequate product transportation; future commodity prices; currency, exchange and interest rates;
regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which
Yoho operates; and the ability of Yoho to successfully market its oil and natural gas products.

The forward-looking information and statements included in this news release are not guarantees of
future performance and should not be unduly relied upon. Such information and statements; including
the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to defer materially from those anticipated in such
forward-looking information or statements including, without limitation: changes in commodity prices;
changes in the demand for or supply of Yoho's products; unanticipated operating results or production
declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in
development plans of Yoho or by third party operators of Yoho's properties, increased debt levels or
debt service requirements; inaccurate estimation of Yoho's oil and gas reserve and resource volumes;
limited, unfavourable or a lack of access to capital markets; increased costs; a lack of inadequate
insurance coverage; the impact of competitors; and certain other risks detailed from time-to-time in
Yoho's public disclosure documents, (including, without limitation, those risks identified in this news
release and Yoho's Annual Information Form).

The forward-looking information and statements contained in this news release speak only as of the
date of this news release, and Yoho does not assume any obligation to publicly update or revise any of
the included forward-looking statements or information, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.

BOE Presentation

In conformity with National Instrument 51-101, Standards for Disclosure of Oil and Gas Activities (“NI
51-101”), natural gas volumes have been converted to barrels of oil equivalent (“boe”) using a
conversion rate of six thousand cubic feet of natural gas to one barrel of oil. This ratio is based on an
energy equivalency conversion method primarily applicable at the burner tip and does not represent a
value equivalency at the wellhead. Readers are cautioned that the term “boe” may be misleading,
particularly if used in isolation.