Dear Subscriber,
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July
31, 2008
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YUKON-NEVADA
GOLD CORP. MOVES TO SECURE FINANCING
FOR MINE EXPANSION
Vancouver,
BC - July 31, 2008 -- Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG;
Frankfurt Xetra Exchange: NG6) is pleased to announce that it has engaged the Commodities and
Resource Finance Division of Investec Bank (UK) Limited
("Investec") to arrange project finance and hedging facilities
for the expansion of the Company's Jerritt Canyon Mine in Nevada.
The facilities
are comprised of a term loan of US$40 million and a partial gold hedging
program for the term of the loan.
Investec's
underwriting commitment is subject to a number of conditions precedent,
including completion of due diligence and documentation and Investec's
final internal approvals.
Investec has the
exclusive right to arrange and underwrite the facilities until September
30, 2008, but the parties will use their best efforts to complete the
arrangements by August 31, 2008.
Yukon-Nevada Gold Corp. is a North American gold producer in the business
of discovering, developing and operating gold deposits. The Company holds a
diverse portfolio of gold, silver, zinc and copper properties in the Yukon
Territory and British Columbia
in Canada and in Arizona
and Nevada in the United
States. The Company's focus has been on the
acquisition and development of late stage development and operating
properties with gold as the primary target. Continued growth will occur by
increasing or initiating production from the Company's existing properties.
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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