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).
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
Both of these zones will remain the subject of continued aggressive
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.
Investor Relations Manager
Tel: (604) 688-9427
Tel: (416) 868-1079 ext. 289
The TSX has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Company relies upon litigation protection for "forward-looking"
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 Gold Corp.