AGM Documents 3

Yoho Announces Closing of Bought Deal Private Placement

Calgary, Alberta - February 24, 2011 - Yoho Resources Inc. ("Yoho" or the "Company")
(TSXV: YO) is pleased to announce the closing of its recently announced bought deal private
placement of 2,000,000 common shares ("Common Shares") at an issue price of $4.00 per
Common Share and 833,334 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
$4.80 per Flow-Through Share for aggregate gross proceeds of $12,000,003.20 (the "Offering"),
which included 500,000 Common Shares issued at a price of $4.00 per Common Share on the full
exercise of the option granted to the underwriters to increase the size of the Offering by 500,000
Common Shares. The Offering was led by Acumen Capital Finance Partners Limited and
included Paradigm Capital Inc., FirstEnergy Capital Corp. and Peters & Co. Limited
(collectively, the "Underwriters"). In connection with the Offering, the Underwriters were paid a
cash commission equal to 6.0% of the aggregate gross proceeds raised by the Company.


The Common Shares and Flow-Through Shares issued pursuant to the Offering are subject to a
four-month hold period from the date hereof.


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 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 news release contains certain forward-looking statements, which include the
use of proceeds from the Offering and timing of renunciation of flow-through expense. The reader
is cautioned that assumptions used in the preparation of such information may prove to be
incorrect. All such forward-looking statements involve substantial known and unknown risks and
uncertainties, certain of which are beyond Yoho's control. Such risks and uncertainties include,
without limitation, risks associated with oil and gas exploration, development, exploitation,
production, marketing and transportation, loss of markets, volatility of commodity prices,
currency fluctuations, imprecision of reserve estimates, environmental risks, competition from
other producers, inability to retain drilling rigs and other services, delays resulting from or
inability to obtain required regulatory approvals and ability to access sufficient capital from
internal and external sources, the impact of general economic conditions in Canada and the
United States, industry conditions, changes in laws and regulations (including the adoption of
new environmental laws and regulations) and changes in how they are interpreted and enforced,
increased competition, the lack of availability of qualified personnel or management, fluctuations
in foreign exchange or interest rates, stock market volatility and market valuations of companies
with respect to announced transactions and the final valuations thereof, and obtaining required
approvals of regulatory authorities. Yoho's actual results, performance or achievements could
differ materially from those expressed in, or implied by, these forward-looking statements and,
accordingly, no assurances can be given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do, what benefits, including the amount of
proceeds, that Yoho will derive therefrom. Readers are cautioned that the foregoing list of factors
is not exhaustive. All subsequent forward-looking statements, whether written or oral,
attributable to Yoho or persons acting on its behalf are expressly qualified in their entirety by
these cautionary statements. Furthermore, the forward-looking statements contained in this news
release are made as at the date of this news release and Yoho does not undertake any obligation
to update publicly or to revise any of the included forward-looking statements, whether as a
result of new information, future events or otherwise, except as may be required by applicable
securities laws.