AGM Documents 3

Yoho Resources Inc. Announces Bought Deal Private Placement

Calgary, Alberta - February 7, 2011 - Yoho Resources Inc. ("Yoho" or the "Company")
(TSXV: YO) is pleased to announce that it has entered into an agreement with a syndicate of
underwriters led by Acumen Capital Finance Partners Limited and including Paradigm Capital
Inc., FirstEnergy Capital Corp. and Peters & Co. Limited (collectively, the "Underwriters")
pursuant to which the Underwriters have agreed to purchase, on a bought deal private placement
basis, for resale, 1,500,000 common shares of the Company (the "Common Shares") at an issue
price of $4.00 per Common Share and to place on a bought deal private placement basis 833,334
Common Shares to be 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 $4.80 per Flow-Through
Share for aggregate gross proceeds to Yoho of $10,000,003.20 (the "Offering"). The Common
Shares and the Flow-Through Shares will be subject to a four month hold period.

Additionally, the Company has agreed to grant the Underwriters an option, exercisable in whole
or in part up to two business days prior to closing of the Offering, to purchase on a private
placement basis, for resale, up to 500,000 additional Common Shares at an issue price of $4.00
per Common Share for additional gross proceeds of up to $2,000,000. The Offering is scheduled
to close on or about February 24, 2011 and is subject to certain conditions including, but not
limited to, the receipt of all necessary approvals, including the approval of the TSX Venture
Exchange ("TSXV").

Proceeds of the Offering will be used to initially reduce Yoho's existing bank indebtedness and to
accelerate Yoho's exploration and development program, 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 Resources Inc. is a Calgary based junior oil and natural gas company with operations
focused in west central Alberta, the 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


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 closing date of the Offering and the anticipated use of the net
proceeds of the Offering. 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 closing of the Offering could be delayed if Yoho is not able to obtain the
necessary regulatory and stock exchange approvals on the timelines it has planned. The Offering
will not be completed at all if these approvals are not obtained or some other condition to the
closing is not satisfied. Accordingly, there is a risk that the Offering will not be completed within
the anticipated time or at all. The intended use of the net proceeds of the Offering 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, such as an acquisition. 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.