Investments of Macquarie Group Limited in Yale Resources Limited

    TORONTO, July 18 /CNW/ - Macquarie Group Limited ("Macquarie") announced
today that it has acquired, through a non-brokered private placement,
beneficial ownership of 2,800,000 common shares and warrants to purchase
2,800,000 common shares of Yale Resources Limited ("Yale"). As a result of
this acquisition, Macquarie is deemed to own beneficially 7,527,500 common
shares and warrants of Yale, representing approximately 16.42% of the
outstanding shares on a partially diluted basis.
    Macquarie acquired the securities for investment purposes. Depending on
market and other conditions, Macquarie may increase or decrease its beneficial
ownership of, or potential deemed control or direction over, ordinary shares
of Yale through market transactions, private agreements, treasury issuances,
exercise of options, convertible securities or otherwise.

For further information:

For further information: Alex Doughty, (212) 231-1710

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