YO

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UNITED STATES


Yoho Resources Inc. ("Yoho" or the "Company") (TSX VENTURE:YO) has filed today
on SEDAR the financial statements for the three months ended December 31, 2011
and the related managements' discussion and analysis. Copies of these documents
may be found on www.sedar.com.




Highlights                                                                  

--  Yoho's production during fiscal Q1 2012 averaged 2,322 boe per day, a
    seven percent decrease from Q1 2011 production of 2,505 boe per day.
    With recent drilling success, Yoho has approximately 1,000 boe per day
    of production scheduled to come on-stream starting in March 2012. 
--  Notwithstanding decreased natural gas prices, Yoho generated funds from
    operations for fiscal Q1 2012 of $3.7 million ($0.09 per share basic and
    diluted), an increase of 5% from $3.6 million during Q1 fiscal 2011. 
--  Net exploration and development expenditures for Q1 fiscal 2012 were
    $12.3 million. During the first quarter, Yoho drilled 4 (1.8 net) gas
    wells with an overall success rate of 100%. 
--  The Company maintained a flexible balance sheet with total net debt of
    $27.2 million at December 31, 2011. The bank credit facility was
    increased during the quarter to $52 million from $40 million. 
--  Yoho closed equity issues in December 2011 for total gross proceeds of
    $5 million (1,250,000 flow-through shares at $4.00 per share) and closed
    equity issues in January and February 2012 for total gross proceeds of
    $17.2 million (5,227,325 shares at $3.30 per share).



Operations Update

Nig, British Columbia

In December, 2011 Yoho operated the drilling and completion of the Company's
first horizontal well (50% working interest) at Nig targeting the Lower Montney
formation. This formation had not been tested in this area to date. This well at
c-29-A/94-H-4 was drilled to a total measured depth of 2,830 metres with a
horizontal lateral section of 900 metres in length within the Lower Montney
formation. In February 2012 the well was fracture stimulated in 6 stages with
approximately 900 tonnes of sand and 33,000 barrels of slick water used. During
an abbreviated production test, the well flowed up tubing at rates averaging 1.0
MMcf per day and 75 barrels per day of condensate (75 barrels per MMcf).
Although the gas rates are lower that other Montney tests in the area, Yoho is
encouraged by the high liquids ratio in C-29-A. Yoho expects to significantly
increase productivity on further Lower Montney wells through by optimizing both
frac size and frac fluid technology. There have been no reserves booked to date
by Yoho for the Lower Montney formation.


Kaybob, Alberta

Yoho is proceeding with its fiscal 2012 operations in the Duvernay at Kaybob
with one well currently drilling. The Company is also continuing to exchange
data with other operators in the area on a number of recently licensed and
drilled Duvernay wells.


Outlook

Fiscal 2012 will be a year of delineation of the two unconventional plays at
Kaybob and Nig. Yoho is currently planning a capital program for fiscal 2012 of
between $35 and $40 million. Production for fiscal 2012 is budgeted to average
approximately 3,000 boe per day with exit production of between 3,300 and 3,400
boe per day. The fiscal 2012 capital program is expected to generate funds from
operations of $15 to $16 million based on a natural gas price of $2.75 per GJ at
AECO and an oil price of $90.00 per barrel at Edmonton. With the continued
volatility in commodity prices, the activity levels for fiscal 2012 will be
monitored to match capital expenditures with expected cash flow and available
credit lines.


Yoho Resources Inc. is a Calgary based junior oil and natural gas company with
operations focusing 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".


Cautionary Statements

Forward-looking information and statements

This news 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", "schedule", "plans", "intends" and similar expressions are
intended to identify forward-looking information or statements. In particular,
but without limiting the forgoing, this news release contains forward-looking
information and statements pertaining to the following: the estimated volumes
associated with certain of Yoho's wells; Yoho's and its partner's development
plans on certain of their properties; estimates of timing for tie-in of certain
gas wells; estimated costs associated with completing certain wells; estimated
reductions in costs on drilling and completing certain future wells; future
capital spending levels and focus areas for fiscal 2012 and 2013; estimated
natural gas liquids yields on a go-forward basis on certain wells; and
completion and testing operations on certain of its gas wells.


In addition, forward-looking statements or information are based on a number of
material factors, expectations or assumptions of Yoho which have been used to
develop such statements and information but which may prove to be incorrect.
Although Yoho believes that the expectations reflected in such forward-looking
statements or information are reasonable, undue reliance should not be placed on
forward-looking statements because Yoho can give no assurance that such
expectations will prove to be correct. In addition to other factors and
assumptions which may be identified herein, assumptions have been made
regarding, among other things: the information provided to Yoho by the operator
is accurate and correct; the impact of increasing competition; the general
stability of the economic and political environment in which Yoho operates; the
timely receipt of any required regulatory approvals; the ability of Yoho to
obtain qualified staff, equipment and services in a timely and cost efficient
manner; drilling results; the ability of the operator of the projects in which
Yoho has an interest in to operate the field in a safe, efficient and effective
manner; the ability of Yoho to obtain financing on acceptable terms; field
production rates and decline rates; the ability to replace and expand oil and
natural gas reserves through acquisition, development and exploration; the
timing and cost of pipeline, storage and facility construction and expansion,
the ability of Yoho and its partners to realize costs savings under multi-well
pad operation scenarios and the ability of Yoho and its partners to secure
adequate product transportation; future commodity prices; currency, exchange and
interest rates; regulatory framework regarding royalties, taxes and
environmental matters in the jurisdictions in which Yoho operates; and the
ability of Yoho to successfully market its oil and natural gas products.


The forward-looking information and statements included in this news release are
not guarantees of future performance and should not be unduly relied upon. Such
information and statements; including the assumptions made in respect thereof,
involve known and unknown risks, uncertainties and other factors that may cause
actual results or events to defer materially from those anticipated in such
forward-looking information or statements including, without limitation: changes
in commodity prices; changes in the demand for or supply of Yoho's products;
unanticipated operating results, pressure declines or production declines;
changes in the mix of commodity type production associated with Yoho's wells;
changes in tax or environmental laws, royalty rates or other regulatory matters;
changes in development plans of Yoho or by third party operators of Yoho's
properties, increased debt levels or debt service requirements; inaccurate
estimation of Yoho's oil and gas reserve and resource volumes; limited,
unfavourable or a lack of access to capital markets; increased costs; a lack of
inadequate insurance coverage; the impact of competitors; and certain other
risks detailed from time-to-time in Yoho's public disclosure documents,
(including, without limitation, those risks identified in this news release and
Yoho's Annual Information Form).


The forward-looking information and statements contained in this news release
speak only as of the date of this news release, and Yoho does not assume any
obligation to publicly update or revise any of the included forward-looking
statements or information, whether as a result of new information, future events
or otherwise, except as may be required by applicable securities laws.


Non-IFRS Financial Measures

The MD&A contains the term "funds from operations" and "funds from operations
per share" which do not have any standardized meaning prescribed by
International Financial Reporting Standards ("IFRS"). Management uses funds from
operations and funds from operations per share to analyze operating performance
and leverage and considers funds from operations to be a key measure as it
demonstrates the Company's ability to generate the cash necessary to fund future
capital investments and to repay debt. Funds from operations should not be
considered an alternative to, or more meaningful than cash flow from operating
activities as determined in accordance with IFRS as an indicator of the
Company's performance. Therefore references to funds from operations or funds
from operations per share (basic and diluted) may not be comparable with the
calculation of similar measures for other entities. Yoho calculates funds from
operations per share using the same method used in the determination of net
income per share.


Yoho also uses "operating netbacks" and per boe metrics as key performance
indicators. These terms do not have a standardized meaning prescribed by IFRS
and therefore may not be comparable with the calculation of similar measures by
other companies. Management considers netbacks an important measure as it
demonstrates its profitability relative to current commodity prices. The Company
uses this measure to help evaluate its performance.


Disclosure of Well-Flow Test Results

The Company cautions that the test results described in the press release are
not necessarily indicative of long-term performance or ultimate recovery.
Additionally, as well test interpretations have not been completed on the wells
described in this press release, the results and data described in this press
release should be considered preliminary until such interpretations have been
completed.


BOE equivalent

Barrel of oil equivalents or BOEs may be misleading, particularly if used in
isolation. A BOE conversion ratio of 6 mcf: 1 bbl is based on an energy
equivalency conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the wellhead. Given the value ratio based
on the current price of crude oil as compared to natural gas is significantly
different from the energy equivalency of 6 mcf: 1 bbl, utilizing a conversion
ratio of 6 mcf: 1 bbl may be a misleading indication of value.

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