Dear Subscriber,
|
July
30, 2008
|
YUKON-NEVADA GOLD CORP. INTERSECTS 14.5 METERS OF
8.95 G/T GOLD AT THE KETZA RIVER PROJECT
Vancouver,
BC - July 30, 2008 -- Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG;
Frankfurt Xetra Exchange: NG6) is pleased to report consistently favorable results from its
on-going 2008 drilling program at Ketza River. The Ketza
River property is wholly-owned by
Yukon-Nevada Gold Corp. (YNG), and is a past gold producer located near the
town of Ross River in the Yukon Territory,
Canada.
All drill holes referenced in this release are diamond drill holes
completed between May 3 and June 9, 2008 utilizing two drill rigs and for
which assay reports were received between July 1 and July 27.Drill core
from this period was available for viewing during YNG's analyst tour held
on June 21st (http://www.yukon-nevadagold.com/i/pdf/CHF_In-Brief.pdf). All holes were targeted to expand the
margins of known mineralization as part of the company's continuing program
to expand areas amenable to open-pit mining. Additional drilling has been
targeted within known resource areas as part of pit planning and an effort
to upgrade the quality of the Ketza River Project resources.
Note also that the drill intercepts reported herein
were not included in the data used for the NI 43-101 resource estimates
released on April 14, 2008, which contain a measured and indicated resource
of 646,600 ounces of gold at a grade of 4.93 g/t and an inferred resource
of 112,800 ounces of gold grading 3.26 g/t and could potentially lead to an
increase in the resource of the Ketza River project. To date 22,104 meters
from 170 holes have been drilled in 2008. A complete table of results can
be found on our website: http://www.yukon-nevadagold.com/i/pdf/KetzaDDH.pdf
Significant new intercepts were received from the Peel, Tarn,
and Break
Targets within the Manto Zone. Highlights include 14.47m of 8.95 g/t gold, including
an interval of 2.4m at 15.16 g/t gold at a depth of just 32
meters in the Peel Target.In addition, one drill hole in the Tarn Target
intercepted 3.05m of
13.25 g/t gold at a depth of just 11 meters. Graham
Dickson, President and CEO states, "The continued
success of the exploration program emphasizes the company's belief in the
value of this most prospective project."
Summary
- Significant Intercepts
|
Hole Number
|
Zone
|
From (m)
|
To (m)
|
Thickness (m)
|
Grade g/t Au
|
KR-08-1362
|
Peel
|
26.62
|
28.04
|
1.42
|
8.18
|
KR-08-1362
|
Peel
|
32.61
|
47.08
|
14.47
|
8.95
|
Including
|
|
32.61
|
35.01
|
2.40
|
15.2
|
KR-08-1378
|
Tarn
|
11.28
|
20.42
|
9.14
|
7.13
|
Including
|
|
11.28
|
14.33
|
3.05
|
13.25
|
KR-08-1396
|
Break
|
30.52
|
32.61
|
2.09
|
4.43
|
A condemnation
drilling program comprised of seven holes at the proposed site of a new
larger camp encountered 2 - 3 g/t Au over thicknesses of 4.5 meters at
depths of 60 to 90 meters. These depths are such that the proposed camp
site will be utilized.
Thicknesses
have been reported as drilled -- there is not yet sufficient information to
determine true thicknesses. All assays for the drill program were conducted
by ALS Chemex of North Vancouver,
B.C.
This
news release was reviewed and approved by the Chief Geologist at Ketza
River, Erika
Shepard, M.Sc., P.Geo., who is the Qualified Person for
the purposes of this release.
<!--[if !supportLineBreakNewLine]-->
<!--[endif]-->
Yukon-Nevada
Gold Corp. is a North American gold producer in the business of
discovering, developing and operating gold deposits. The Company holds a
diverse portfolio of gold, silver, zinc and copper properties in the Yukon
Territory and British Columbia in Canada
and in Arizona and Nevada in
the United States.
The Company's focus has been on the acquisition and development of late
stage development and operating properties with gold as the primary target.
Continued growth will occur by increasing or initiating production from the
Company's existing properties.
The TSX has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
WARNING: The
Company relies upon litigation protection for "forward-looking"
statements.
This news release
does not constitute an offer to sell or a solicitation of an offer to buy
any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United States or
to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is
available.
|