Dear Subscriber,
April 29, 2008
Vancouver, BC - April 29, 2008 - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) reports underground drilling continues to extend gold mineralization at Jerritt Canyon's Smith Mine. Forty-one underground core and reverse-circulation (RC) holes totaling 10,523 feet (3,207 meters) have been completed at the Smith Mine since compilation of the 2007 year-end resource estimate. The Company's President and CEO, Graham C. Dickson, commented, "These drill results are again further confirmation of our belief that our operating mines can not only provide feed for our milling facility for many years to come but more importantly can support a greater output in a sustainable manner at a higher grade than previously mined as indicated by the values in Drill Hole LX-740 of 70 feet (21.3 meters) of 0.568 opt (19.47gpt). " Zone 4 - Mahala In order to follow up on encouraging results released in January 2008, additional underground RC and core drilling was completed from a drift paralleling the west extension of the high-grade Mahala igneous dike trend. The RC holes were drilled directly across the nearby dike trend while most of the core holes were directed farther out along strike to the west. This drilling has extended two high-grade dikes at least 140 feet (42 meters) west of the currently modeled resources. Additionally, the core drilling intersected dike-related anomalous gold another 350 feet (105 meters) farther west; this indicates that gold mineralization continues along this prolific structure. Highlight intercepts are listed in the table below. Gold grades are reported in ounces of gold per ton (opt) and grams of gold per tonne (gpt).
Hole ID
From (ft)
From (m)
To (ft)
To (m)
Interval (ft)
Interval (m)
Au (opt)
Au (g/ton)
C40797
20.0
6.1
35.0
10.7
15.0
4.6
0.411
14.09
C40811
0.499
17.11
LX-718
127.5
38.9
163.0
49.7
35.5
10.8
0.262
8.98
LX-721
17.0
5.2
18.0
5.5
0.351
12.03
Zone 7 - West Dash Extension of an exploration drift over the West Dash ore zone at the end of 2007 has allowed for more effective drilling of the down-dip extensions of the prolific west and middle reserve pods. Drilling has extended ore-grade gold mineralization an additional 125 feet (38 meters) down-dip at the north end of the middle pod. Additional drilling has extended the west pod at least 150 feet (46 meters) down-dip to the north, highlighted by 70 feet (21.3 meters) of 0.568 opt (19.47gpt) in Drill Hole LX-740. Three of the most significant intercepts from this zone are listed below.
LX-736
271.0
82.6
292.0
89.0
21.0
6.4
0.326
11.18
LX-740
110.0
33.5
180.0
54.9
70.0
21.3
0.568
19.47
LX-744
194.0
59.1
214.0
65.2
0.447
15.33
Both of these zones will remain the subject of continued aggressive exploration. True widths have not yet been calculated; given the geometry of mineralization at Jerritt Canyon, the concept of true width is not always meaningful before delineation drilling has been completed. This News Release was reviewed and approved by the Company's Executive Vice President-Exploration, Dorian L. (Dusty) Nicol, M.Sc., P.Geo., the Qualified Person for purposes of this release. A detailed map of the drill holes can be found on our website, www.yukon-nevadagold.com.
Yukon-Nevada Gold Corp. Nicole Sanches Investor Relations Manager Tel: (604) 688-9427 Email: nicole@yngc.ca www.yukon-nevadagold.com
CHF Investor Relations Jacqueline Wagenaar Account Manager Tel: (416) 868-1079 ext. 289 Email: jacqueline@chfir.com www.chfir.com
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
WARNING: The Company relies upon litigation protection for "forward-looking" statements.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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Yukon-Nevada is a gold development stage company based in Canada.
Yukon-Nevada holds various exploration projects in Canada.
Its main assets in production are JERRITT CANYON MINE, JERRITT CANYON, JERRITT CANYON-MURRAY, JERRITT CANYON - MURRAY ZONE 9, JERRY CANYON - SSX, JERRY CANYON - EAST SMITH, JERRY CANYON - SAVAL, JERRY CANYON - STARVATION, JERRY CANYON - WRIGHT WINDOW, JERRITT CANYON STOCKPILES, JERRY CANYON - UG RESOURCES, JERRY CANYON - SMITH and JERITT CANYON - PIT RESOURCES in USA, its main asset in development is KETZA RIVER MANTO ZONE in Canada and its main exploration properties are WOLF PROPERTY, MONEY CLAIMS, SILVER VALLEY PROPERTY, KETZA - SHAMROCK ZONE and KETZA RIVER in Canada.
Its stock quote reached its lowest recent point on December 12, 2008 at CA$ 0.02, and its highest recent level on February 12, 2013 at CA$ 2.95.
Yukon-Nevada has 930 644 000 shares outstanding.