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News Release
Yukon Zinc Provides Update On Financing For Wolverine
Vancouver, BC, February 26, 2008 - Yukon
Zinc Corporation (YZC.TSX-V) is pleased to update shareholders on its
progress to procure financing for the continued development of the Wolverine
Project, which is being maintained in a state of readiness for resumption of
development activities.
The Company is currently evaluating financing alternatives to
alleviate a current working capital shortfall and to provide the additional
working capital necessary to maintain equipment purchase contracts and the
development schedule and other activities related to the Company's Wolverine
Project.
The Company is also engaged in discussions with a number of third
parties who have expressed an interest in participating in the Wolverine
Project. These discussions range from a merger with the Company, a major share
investment in the Company or an acquisition of all of the shares of the
Company. Although these discussions are ongoing, no firm
proposals have been received nor has any agreement been executed. The Company
cannot be sure that either a definitive proposal will be received, or that a
binding agreement will be reached; or, if an agreement is reached, that the
conditions required to complete the transaction will be met.
The Company has engaged Paradigm Capital Inc. to assist and coordinate
discussions with the interested parties and to provide the Board with
relevant information to enable it to assess the fairness of any proposal
which may be received.
Yukon Zinc Corporation is focused on the development of the Wolverine
deposit as the Yukon's next significant
zinc-silver mine and the exploration of the Finlayson District as Canada's
newest Volcanogenic Massive Sulphide District.
This news release contains forward-looking statements concerning the
financing of the Wolverine Project and the investment in it by other
parties. These statements are based on assumptions and judgments of
management regarding future events or results that may prove to be inaccurate
as a result of the failure to receive definitive proposals or to complete
definitive documentation, the failure to raise required financing, the
failure to obtain necessary regulatory, Board or shareholder approvals and
other risk factors beyond the Company's control. There can be no
assurance that such forward-looking statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated by such statements. Accordingly, readers should not place
undue reliance on forward-looking statements contained in this news release.
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For more information contact:
Dr. Harlan Meade, President and CEO
Shae Dalphond
Manager, Investor Communications
Telephone: (604) 682-5474 Toll-free: 1-877-682-5474
Facsimile: (604) 682-5404
info@yukonzinc.com
www.yukonzinc.com
THE TSX
VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OF THIS NEWS RELEASE.
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