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Toronto, Canada, December 5th 2007,
Yukon Gold Corporation, Inc. ("Yukon Gold"), (TSX: YK, OTCBB:
YGDC, Frankfurt: W8Y) is pleased to
announce results of the 2007 diamond drill program at its 100% owned Marg
Property, a copper/zinc/lead deposit, located in Yukon Territory, Canada.
With a skid mounted rig, 2,395 metres were drilled in 7 holes to test the
extension of the known mineralization.
Highlights of the drill results are outlined below:
This drill program has continued to expand the limits of the Marg
mineralization down dip and along strike, which is very encouraging. It is
intended to incorporate these results into a revised 3D model to guide
future work.
An additional 603m was drilled with a heli-portable rig to test outlying
targets defined by soil geochemical sampling and the VTEM survey which was
flown over the property last year. Two of these holes were lost in deep
overburden. A third hole, offset from the Jane Zone, intersected a
carbonate rich exhalative horizon. Such exhalative horizons are often
associated with mineralized sulphide horizons and this is encouraging. The
last hole intersected strata with thin lamellae of pyrite and pyrrhotite
but with no copper or zinc values. There still are 17 other VTEM anomalies
identified on the property that are associated with soil geochemical
anomalies which have to be drill tested. A proposed drill program for 2008,
will be the first time exploration targets outside of the immediate Marg Deposit
are drill tested in a dedicated program since the original discovery.
Success in such a program to locate satellite deposits, will significantly
enhance the prospects of developing a mine at the Marg.
A QA/QC program was implemented on this project and consisted of blanks and
certified standards being inserted into the sample stream. All samples were
analysed by ALS Chemex in Vancouver.
The Qualified Person who prepared this press release is Stew Fumerton,
Ph.D., P. Geo. VP Exploration for Yukon Gold.
About Yukon Gold
Yukon Gold Corporation, Inc. is an active and progressive public
exploration and development company. The Company's main focus is its
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 28.9 million of the Company's common shares outstanding.
For More Information:
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.
Cautionary Note to US Investors � The United
States Securities and Exchange Commission (SEC) limits disclosure for U.S.
reporting purposes to mineral deposits that a company can economically and
legally extract or produce. We use certain terms, such as
"reserves," "resources," "geological
resources," "proven," "probable,"
"measured," "indicated," or "inferred," which
may not be consistent with the reserve definitions established by the SEC.
U.S. investors are urged to consider closely the disclosure in our Form
10-KSB, File No. 000-51068. You can review and obtain copies of these
filings from the SEC's website at http://www.sec.gov/edgar.shtml.
CONTACT INFORMATION
Corporate Inquiries
Bruce Hodgman
Investor Relations
(905) 582-9744
Toll Free (800) 295-0671
bhodgman@yukongoldcorp.com
Paul Gorman CEO
(416) 865-9869
pgorman@yukongoldcorp.com
Company Website: http://www.yukongoldcorp.com
Investor Relations
AGORACOM Investor Relations
http://www.agoracom.com/IR/YukonGold
YK@agoracom.com
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