The Coatbridge side were League 2 champions in May and were expected to be in a fight for survival this season but ended last month in third place following wins over Brechin City and Peterhead and a draw at Lanarkshire rivals Airdrie.
Young said: “First and foremost this is great recognition for the club. Fans usually enjoy their manager being rewarded as it means things must be going right so I am delighted for them as well.
“Putting seven points on board last month was good and to sit third in the table at the end of October is good going for a newly promoted side.”
Young added: “To put that achievement into context we have the smallest of everything in this league. We have the smallest ground, budget and squad and our only aim was to consolidate at this level.
“If we do that it would be massive and we have made a good start but it is only a good start. There is a long way to go.”
Young reckons that keeping faith with the players that helped lift the title has been pivotal in their good run as he explained: “We kept a good core of the players who helped us win the title. They have responded well to what they have been asked to do at a higher level.
“We signed a lot of them up early and avoided a lot of chopping and changing but we have added some quality as well. It is only my second season as a manager and I am enjoying it.
“I am still learning and it is great to have Billy Stark on board with me to help with that as my assistant. He has great experience that I can bounce off.”