������������������ Not for distribution to U.S. news wire services or dissemination in the United States����������������������������������������������������������������������� News Release������������������������������������������������������������������� Yukon Zinc Corporation Announces C$8 Million Financing Vancouver, BC, December 7, 2007, - Yukon Zinc Corporation (YZC.TSX-V) announces a best-efforts brokered private placement share financing for proceeds of up to $8 million ("the Offering"). The financing is lead by Haywood Securities Inc., co-lead by Paradigm Capital Inc., and including Blackmont Capital Inc. ("the Agents"). The Offering consists of up to $6 million in Units ("the Units") and up to $2 million in Flow-Through Shares. The Closing of the Offering is anticipated to be on December 20, 2007 or such other date as agreed by the Company and the lead agent ("the Closing Date"). The Agents may increase the size of the offering by up to $2 million on the same terms prior to the Closing Date. The Flow-Through Shares are priced at $0.14 per share. The Units are priced at $0.12 per Unit and each unit will consist of one common share and one-half common share purchase warrant. Each full warrant will entitle the holder to purchase one common share for $0.16 for twenty four months from the Closing Date. The Units and the Flow-Through Shares will be sold pursuant to applicable securities law exemptions in the Provinces of Ontario, British Columbia and Alberta and such other provinces of Canada and jurisdictions outside of Canada as mutually agreed to by the Company and the Agents. The securities will be subject to the mandatory four month hold period from the Closing Date. The Agents will receive a cash commission equal to 6% of the gross proceeds of the Offering (the "Commission"). In addition, the Company will grant the Agents, at Closing, compensation options equal to 6% of the aggregate number of Units issued in the Offering entitling the Agents, for a period of 12 months from the Closing Date, to acquire that number of Common Shares at a price that is equal to the issue price of the Units under the Offering. The Offering is subject to receipt of regulatory acceptance and approval of the Board of Yukon Zinc Corporation. The proceeds of the Offering are to be used for maintaining the development and engineering activities associated with the advancement of the Wolverine Project, and provides working capital while the Company evaluates alternatives sources of the equity portion of Wolverine Project financing and other forms of transactions that enhance shareholder value. 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. The securities comprising the Offering will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release contains forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of failure to complete the proposed financing, failure to obtain necessary regulatory or shareholder approvals, and other risk factors beyond its control and actual results may differ materially from the expected results.������������������������������������������������������������������������ - 30 - For more information contact:Dr. Harlan Meade, President and CEOShae Dalphond� Manager, Investor CommunicationsTelephone: (604) 682-5474� Toll-free: 1-877-682-5474Facsimile: (604) 682-5404info@yukonzinc.com� www.yukonzinc.com THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR�����������������������������������������������THE ADEQUACY OF THIS NEWS RELEASE.
�
Yukon Zinc is a zinc development stage company based in Canada.
Yukon Zinc develops zinc, copper, gold, lead and silver in Canada, and holds various exploration projects in Canada.
Its main asset in development is WOLVERINE in Canada and its main exploration properties are GOAL NET, FINLAYSON, SWIFT PROJECT, LOGAN and ICE (FINLAYSON) in Canada.