AGM Documents 3

Yoho Resources Inc. Announces Exercise of Over-Allotment Option

Calgary, Alberta – February 2, 2012 - Yoho Resources Inc. ("Yoho" or the "Company")
(TSXV: YO) is pleased to announce the full exercise and closing of the over-allotment option
(the "Over-Allotment Option") granted by the Company to a syndicate of underwriters led by
FirstEnergy Capital Corp. and including Acumen Capital Finance Partners Limited, Haywood
Securities Inc., Paradigm Capital Inc., Peters & Co. Limited and CIBC World Markets Inc.
(collectively, the "Underwriters") whereby an additional 681,825 common shares of the
Company ("Common Shares") have been issued at an issue price of $3.30 per share, for gross
proceeds of $2,250,022. The Over-Allotment Option was granted to the Underwriters in
connection with the Company's public offering of 4,545,500 Common Shares at an issue price of
$3.30 per share (the "Offering") which closed on January 4, 2012. The aggregate gross proceeds
received by the Company pursuant to the Offering and the Over-Allotment Option is

The net proceeds from the Common Shares issued pursuant to the Over-Allotment Option will be
used to initially reduce Yoho's existing bank indebtedness and to fund Yoho's exploration and
development program.

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

For more information please contact:

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

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 net proceeds of the funds received by the Company pursuant
to the Common Shares sold on the exercise of the Over-Allotment Option. 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 net proceeds
received by the Company from the Common Shares sold on the exercise of the Over-Allotment
Option, 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.