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.