Yoho Resources Inc. Increases Funds From Operations 138% During Third Fiscal Quarter to $7.2 Million

CALGARY, ALBERTA–(EMWNews – Aug. 20, 2008) –

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Yoho Resources Inc. (TSX VENTURE:YO) (“Yoho” or the “Company”) filed today the interim unaudited consolidated financial statements for the three months and nine months ended June 30, 2008 and related Management’s Discussion and Analysis on www.sedar.com.

Highlights

– Completed the acquisition of Vision 2000 Exploration Ltd. (“Vision”) for a total acquisition cost of $7.6 million, adding production of 260 boe per day and reserves of 625.5 Mboe at accretive metrics.

– Increased production 29% to 2,041 boe per day for the three months ended June 30, 2008 from 1,578 boe per day for the three months ended June 30, 2007.

– Funds from operations for the third quarter of fiscal 2008 increased 138% to $7.2 million from $3.0 million during the third quarter of fiscal 2007. On a per share basis, funds from operations for three months ended June 30, 2008 increased 112% to $0.36 per share diluted from $0.17 per share diluted last year.

– Strengthened the balance sheet at June 30, 2008 by repaying the outstanding short term loan facility, resulting in total net debt of 0.7 times annualized Q3 funds from operations.

– Drilled 12 (9.5 net) wells to date in fiscal 2008, resulting in 9 (7.0 net) gas wells and 3 (2.5 net) wells which were subsequently abandoned.

Acquisition of Vision

On June 3, 2008, Yoho completed the acquisition of Vision 2000 Exploration Ltd. The total purchase price was $7.6 million and added production of 260 boe per day, 625.5 Mboe of reserves and 21,000 net acres of undeveloped land. The resulting acquisition metrics of the Vision transaction were $12.20 per boe of reserves and $29,400 per flowing boe. In July, 2008, Yoho has drilled its first well on the Vision lands, a successful gas well which production tested at 1.0 Mmcf per day. This well is currently being tied in and will be on production for September deliveries.

Operations

Yoho’s production for the three months ended June 30, 2008 averaged 2,041 boe per day (86% natural gas), a 29% increase from 1,578 boe per day for the three months ended June 30, 2007. Of the increase for the quarter, 78 boe per day can be attributed to the acquisition of Vision with the remaining increase the result of successful drilling activities during the year. Production for the nine months ended June 30, 2008 increased 53% to average 1,909 boe per day compared to 1,247 boe per day for the same period last year. Current production for August, 2008 is estimated at 2,350 boe per day.

Financial

As a result of increased production and stronger commodity prices, funds from operations for the third quarter of fiscal 2008 increased 138% to $7.2 million from $3.0 million during the third quarter of fiscal 2007. On a per share basis, funds from operations for three months ended June 30, 2008 increased 112% to $0.36 per share diluted from $0.17 per share diluted last year. Funds from operations for the nine months ended June 30, 2008 were $15.1 million ($0.81 per share diluted), a 110% increase from $7.2 million ($0.42 per share diluted) during the same period last year.

Yoho also strengthened the balance sheet at June 30, 2008 by repaying the outstanding short term loan facility. The bank credit facility was also increased in June, 2008 by $3 million to $30 million. At June 30, 2008, $18.7 million has been drawn on the bank credit facility.

Outlook

Yoho has reviewed its capital program in light of the recent increases in the Company’s production and plans on spending up to $20 million during fiscal 2008, with 5 additional wells to be drilled before fiscal year end of September 30, 2008.

The preliminary fiscal 2009 capital budget has been set at $25 to $30 million and includes drilling 26 to 31 gross wells with an average 72% working interest. Production for fiscal 2009 is budgeted to average 2,500 to 2,600 boe per day. The Company expects to fund a substantial portion of this program with funds from operations. This fiscal 2009 budget has been based on a natural gas price of $8.50 per GJ at AECO and includes the impact of the changes in Alberta crown royalties beginning in January 2009. Natural gas prices remain a large variable in our outlook for fiscal 2009 and the Company has flexibility in the budget to accelerate or reduce capital programs accordingly with changes in natural gas pricing and related cash flows. Yoho continues to build a substantial inventory of plays, prospects and ideas that will be brought forward when the economic conditions for each project dictates.

Yoho Resources Inc. 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 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.

CAUTIONARY STATEMENTS

Certain statements regarding Yoho Resources Inc. including management’s assessments of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Yoho’s control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements.

Such factors include, but are not limited to: the impact of general economic conditions in Canada and the United States; industry conditions including changes in laws and regulations including adoption of new environmental laws and regulations, and changes in how they are interpreted and enforced; competition; the lack of availability of qualified personnel; fluctuations in commodity prices; the results of exploration and development drilling and related activities; imprecision in reserve estimates; the production and growth potential of Yoho’s various assets; fluctuations in foreign exchange or interest rates; the ability to access sufficient capital from internal and external sources; and obtaining required approvals of regulatory authorities.

Accordingly, Yoho gives no assurance nor makes any representations or warranty that the expectations conveyed by the forward-looking statements will prove to be correct and actual results may differ materially from those anticipated in the forward looking statements. Yoho undertakes no obligation to publicly update or revise any forward-looking statements.

Disclosure provided herein in respect of barrels of oil equivalent (boe) may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf to 1 bbl is based on an energy equivalency conversion method primarily at the burner tip and does not represent a value equivalency at the wellhead.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.