AGM Documents 3

Yoho Resources Inc. Announces Closing of Non-Brokered Private Placement of Flow-Through Shares

Calgary, Alberta - December 22, 2011 - Yoho Resources Inc. ("Yoho" or the "Company")
(TSXV: YO) is pleased to announce that it has closed its previously announced non-brokered
private placement (the "Private Placement") to, among others, certain directors and officers of
the Company, of 625,000 common shares issued on a "flow-through" basis pursuant to the
provisions of the Income Tax Act (Canada) (the "Flow-Through Shares") at an issue price of
$4.00 per Flow-Through Share for gross proceeds of $2,500,000.

Proceeds of the Private Placement will be used to initially reduce Yoho's existing bank
indebtedness, with the gross proceeds from the sale of the Flow-Through Shares used to fund
ongoing exploration activities eligible for Canadian exploration expenses which will be
renounced in favour of the subscribers of the Flow-Through Shares effective on or before
December 31, 2011.

Yoho 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 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

Neither TSX Venture Exchange 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.

ADVISORY: This press 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 press release contains statements
concerning the anticipated use of the proceeds of the Private Placement. Although Yoho believes
that the expectations reflected in these forward looking statements are reasonable, undue
reliance should not be placed on them because Yoho can give no assurance that they will prove to
be correct. Since forward looking statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. The intended use of the proceeds of the
Private Placement by Yoho might change if the board of directors of Yoho determines that it
would be in the best interests of Yoho to deploy the proceeds for some other purpose. The
forward looking statements contained in this press release are made as of the date hereof and
Yoho undertakes no obligations to update publicly or revise any forward looking statements or
information, whether as a result of new information, future events or otherwise, unless so
required by applicable securities laws.