Yukon Gold Corporation

Published : May 01st, 2007

to Drill High Grade Gold/Silver Vein Targets on its Mt. Hinton Property in the Yukon

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Yukon Gold to Drill High Grade Gold/Silver Vein Targets on its Mt. Hinton Property in the Yukon

Toronto, Canada, May 1, 2007, Yukon Gold Corporation, Inc. (“Yukon Gold”), (TSX: YK,
OTC BB: YGDC)
today announced it will begin an intensive drilling and exploration program on its Mount Hinton Gold Project for the 2007 work season. This work will further delineate the extensive gold vein mineralization on the property, located in central Yukon Territory.  The Mount Hinton project, which covers approximately 12,355 acres, is situated next to the Keno Hill Mining Camp within the Tombstone Gold Belt, world renowned for the discovery of major gold and base metal deposits. 

 

The primary drill targets are located within a 300 metre wide and over 3.2 kilometre long trend of gold and silver bearing vein faults.  As many as 50 mineralized veins or discrete mineralized vein float trains have been discovered to date within this structural trend.  Gold-silver mineralization occurs over a vertical distance of approximately 260 metres down the face of Mount Hinton.  Individual samples from these veins have returned grades of up to 160 grams of gold and 1020 grams of silver per ton while close spaced channel sampling demonstrates the potential for average grades in the 17.5 g/t Au and 1546 g/t Ag to
42.5 g/t Au and 319 g/t Ag range over average widths of 49 to 105 cm, respectively.  Past efforts to fully evaluate the various vein zones by hand trenching were hampered by the steep terrain and difficult overburden conditions.

 

Given the geological and structural model developed from 100 years of exploration and mining in the area, the extent and continuity of gold mineralization in the Mount Hinton vein fault system presents the potential for development of a significant gold/silver resource.  Work carried out to date by Yukon Gold has verified old discovery results and has added several new veins and anomalies, extending the strike length of the identified vein fault structure.  Road access and drill sites have been completed in preparation for drilling and development.

 

The Qualified Person who has reviewed this release and who is supervising the drilling program on Mount Hinton is R. C. Carne, P.Geo., an independent consultant employed by Archer Cathro & Associates (1981) Limited, a geological engineering firm offering contract mineral development and exploration services for mining companies. Results from the drilling will be published as they are made available and reviewed by Yukon Gold’s management team.  .

 

About Yukon Gold

                                               

Yukon Gold Corporation, Inc. is an active and progressive public exploration and development company.  The Company’s main focus is its late stage Zinc-Copper-Silver deposit (Marg Property) and its Mount Hinton Gold and Silver exploration project in the Central Yukon Territory of Canada.  These properties lie within the Tombstone Gold Belt, world renowned for the discovery of major gold, silver and base metal deposits.  Currently, there are approximately 19.4 million of the Company’s common shares outstanding.

For More Information:

                                               

Yukon Gold Corporation, Inc.                    Bruce Hodgman, Investor Relations                        

Paul Gorman, CEO                                        (905) 582-9744                                              

(416) 865-9869                                               Toll Free (800) 295-0671                                             

E: pgorman@yukongoldcorp.com            bhodgman@yukongoldcorp.com

 

                                    Company Website: www.yukongoldcorp.com

 

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

 

 

 

               

 

 

 

 

 

 

 

Yukon Gold Corporation

CODE : YK.TO
ISIN : US9884801096
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Yukon Gold is a gold exploration company based in Canada.

Yukon Gold holds various exploration projects in Canada.

Its main exploration properties are MARG VMS, MONUT HINTON, MAMMOTH, MARG and MOUNT HINTON in Canada.

Yukon Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.4 millions as of today (US$ 2.4 millions, € 1.6 millions).

Its stock quote reached its highest recent level on December 29, 2006 at CA$ 2.40, and its lowest recent point on December 19, 2008 at CA$ 0.02.

Yukon Gold has 40 490 000 shares outstanding.

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