News Release
ISS Canada Recommends that Yukon Zinc
Shareholders Vote for
the Arrangement with YZC Acquisition Corp.
Vancouver, BC,
June 13, 2008
- Yukon Zinc Corporation (YZC.TSX-V) ("Yukon Zinc") today announced
that RiskMetrics Group - ISS Governance Services ("ISS"), Canada's leading
independent proxy advisory firm, published a report recommending that
shareholders of Yukon Zinc support the proposed Arrangement with YZC
Acquisition Corp. Pursuant to the Arrangement, YZC Acquisition Corp. will
acquire all of the issued common shares, warrants and options of Yukon Zinc.
The ISS recommendation was based on a review of the rationale for the
transaction described in the Management Information Circular (the
"Circular") of Yukon Zinc dated May 26, 2008, including the fact
that the transaction is a cash sale with a premium in the offer price.
ISS is widely-recognized as the leading independent proxy voting and
corporate governance advisory firm in both Canada and the United States. Its
analyses and recommendations are relied upon by hundreds of major
institutional investment firms, mutual funds and fiduciaries throughout North
America.
A resolution approving
the Arrangement will be considered at the annual and special meeting (the
"Meeting") of shareholders to be held on June 25, 2008. Yukon
Zinc's Board of Directors has determined that the Arrangement is fair to the
Yukon Zinc shareholders and that it is in the best interests of Yukon Zinc
and recommends that Yukon Zinc Shareholders vote in favour of the Arrangement
at the Meeting.
Shareholders can vote by
phone, internet or mail, and instructions can be found in the Circular which
is available under Yukon Zinc's profile on SEDAR at www.sedar.com. If
shareholders have questions about voting, they can contact Yukon Zinc's proxy
solicitor, Laurel Hill Advisory Group, LLC, toll-free at (888) 268-4302.
Proxies must be received no later than 11:00 a.m. (PST) on June 23, 2008.
About Yukon Zinc
Yukon Zinc is a TSX
Venture Exchange listed company based in Vancouver. It is focused on
development of its silver-rich Wolverine Project in southeast Yukon and its
large exploration land holdings in the Finlayson and Rancheria Districts. A
bankable feasibility study was completed for the Wolverine Project by Wardrop
Engineering in January 2007 indicating favourable project economics. The
Project has all of its main development permits and enjoys strong support
from the Yukon Government and its local First Nations communities.
Cautionary Note
Regarding Forward-Looking Statements
This press release
contains "forward-looking statements" within the meaning of
applicable Canadian securities laws concerning the business, operations and
financial performance and condition of Yukon Zinc. Forward-looking statements
include, but are not limited to, statements with respect to the future price
of metals, the estimation of mineral reserves and resources, the realization
of mineral reserve estimates, the timing and amount of estimated future
production, costs of production, capital expenditures, costs and timing of
the development of new deposits, success of exploration activities,
permitting time lines, hedging practices, currency exchange rate
fluctuations, requirements for additional capital, government regulation of
mining operations, environmental risks, unanticipated reclamation expenses,
timing and possible outcome of pending litigation, title disputes or claims and
limitations on insurance coverage. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology such
as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled",
"estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state
that certain actions, events or results "may", "could",
"would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking statements are
subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of
Yukon Zinc to be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks related to
the integration of acquisitions; risks related to international operations;
risks related to joint venture operations; actual results of current
exploration activities; actual results of current reclamation activities;
conclusions of economic evaluations; changes in project parameters as plans
continue to be refined; future prices of metals; possible variations in ore
reserves, grade or recovery rates; failure of plant, equipment or processes
to operate as anticipated; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or financing or
in the completion of development or construction activities. Although Yukon
Zinc has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements. Yukon Zinc
does not undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with applicable
securities laws
- 30 -
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.
|