diff --git a/.github/actions/security-issues/action.yml b/.github/actions/security-issues/action.yml
index bf1778c1b..38d9b8750 100644
--- a/.github/actions/security-issues/action.yml
+++ b/.github/actions/security-issues/action.yml
@@ -39,7 +39,7 @@ runs:
     - name: Install Python Toolbox / Security tool
       shell: bash
       run: |
-        pip install exasol-toolbox==5.1.0
+        pip install exasol-toolbox==5.1.1
 
     - name: Create Security Issue Report
       shell: bash
diff --git a/doc/changes/changelog.md b/doc/changes/changelog.md
index 5dae0f868..a83bca463 100644
--- a/doc/changes/changelog.md
+++ b/doc/changes/changelog.md
@@ -1,6 +1,7 @@
 # Changelog
 
 * [unreleased](unreleased.md)
+* [5.1.1](changes_5.1.1.md)
 * [5.1.0](changes_5.1.0.md)
 * [5.0.0](changes_5.0.0.md)
 * [4.0.1](changes_4.0.1.md)
@@ -56,6 +57,7 @@
 hidden:
 ---
 unreleased
+changes_5.1.1
 changes_5.1.0
 changes_5.0.0
 changes_4.0.1
diff --git a/doc/changes/changes_5.1.1.md b/doc/changes/changes_5.1.1.md
new file mode 100644
index 000000000..653c2511a
--- /dev/null
+++ b/doc/changes/changes_5.1.1.md
@@ -0,0 +1,27 @@
+# 5.1.1 - 2026-02-06
+
+## Summary
+
+In this patch release, we:
+
+* Fixed a bug which was affecting new GitHub projects from using the nox session `release:prepare`.
+* Switched from using a string verified by PyYaml to directly using ruamel-yaml for rendering the GitHub workflows.
+
+## Bug
+
+* #692: Fixed bug where creating first release failed due to no previous tags
+
+## Documentation
+
+* #585: Added instructions how to ignore sonar issues to the User Guide
+* #630: Updated cookiecutter command to reduce errors experienced by users
+
+## Refactoring
+
+* #686: Switched GitHub templates to be fully parsed by ruamel-yaml
+
+## Dependency Updates
+
+### `main`
+* Removed dependency `pyyaml:6.0.3`
+* Added dependency `ruamel-yaml:0.18.16`
diff --git a/doc/changes/unreleased.md b/doc/changes/unreleased.md
index 90e078afb..fb4737052 100644
--- a/doc/changes/unreleased.md
+++ b/doc/changes/unreleased.md
@@ -1,16 +1,3 @@
 # Unreleased
 
 ## Summary
-
-## Bug
-
-* #692: Fixed bug where creating first release failed due to no previous tags
-
-## Documentation
-
-* #585: Added instructions how to ignore sonar issues to the User Guide
-* #630: Updated cookiecutter command to reduce errors experienced by users
-
-## Refactoring
-
-* #686: Switched GitHub templates to be fully parsed by ruamel-yaml
diff --git a/exasol/toolbox/version.py b/exasol/toolbox/version.py
index 5452203e7..150005a49 100644
--- a/exasol/toolbox/version.py
+++ b/exasol/toolbox/version.py
@@ -10,6 +10,6 @@
 
 MAJOR = 5
 MINOR = 1
-PATCH = 0
+PATCH = 1
 VERSION = f"{MAJOR}.{MINOR}.{PATCH}"
 __version__ = VERSION
diff --git a/project-template/cookiecutter.json b/project-template/cookiecutter.json
index a5f9fdada..cc1c71161 100644
--- a/project-template/cookiecutter.json
+++ b/project-template/cookiecutter.json
@@ -9,7 +9,7 @@
   "author_email": "opensource@exasol.com",
   "project_short_tag": "",
   "python_version_min": "3.10",
-  "exasol_toolbox_version_range": ">=5.1.0,<6",
+  "exasol_toolbox_version_range": ">=5.1.1,<6",
   "license_year": "{% now 'utc', '%Y' %}",
   "__repo_name_slug": "{{cookiecutter.package_name}}",
   "__package_name_slug": "{{cookiecutter.package_name}}",
diff --git a/pyproject.toml b/pyproject.toml
index edf00a9ee..617ff6acd 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "exasol-toolbox"
-version = "5.1.0"
+version = "5.1.1"
 description = "Your one-stop solution for managing all standard tasks and core workflows of your Python project."
 authors = [
     { name = "Nicola Coretti", email = "nicola.coretti@exasol.com" },