Vancouver, BC - July 7, 2008 - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) is pleased to provide continuing favorable results from its on-going 2008 drilling program at Ketza River. The Ketza River property is wholly-owned by Yukon-Nevada Gold Corp., and is a past gold producer located near the town of Ross River in the Yukon Territory, Canada. All drill holes referenced in this release are Diamond drill holes from two drill rigs completed between April 22nd and May 12th, 2008, and for which assay reports were received in June. All holes were targeted to expand the margins of known mineralization as part of the company's continuing program to expand areas amenable to open-pit mining. Significant intercepts were received from the Peel and Penguin Targets within the Manto Zone, and the QB target in the Shamrock Zone. Highlights include 3.8m of 20.6 g/t gold at a depth of just 20 meters in the Peel Target, and 3.6m of 21.2 g/t gold at a depth of just 40 meters in the QB Target. The drill intercepts reported herein were not included in the data used for the NI 43-101 resource estimates released on April 14, 2008, which contain a measured and indicated resource of 646,600 ounces of gold at a grade of 4.93 g/t and an inferred resource of 112,800 ounces of gold grading 3.26 g/t and could potentially lead to an increase in the resource of the Ketza River project. Summary of Significant Intercepts
Hole Number
Zone
From (m)
To (m)
Thickness (m)
Grade g/t Au
KR-08-1347
Penguin
48.7
52.7
4.0
6.6
KR-08-1365
Peel
19.7
23.5
3.8
20.6
26.9
28.7
1.8
14.0
47
50.1
3.1
10.1
KR-08-1367
QB
39.5
43.1
3.6
21.2
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.
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.