Vancouver, BC - June 13, 2008 - Yukon-Nevada Gold
Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) is pleased to report additional favorable results
from its on-going 2008 drilling program at Ketza River. The Ketza
River property is wholly-owned by Yukon-Nevada Gold Corp., and is a past
gold producer located near the town of Ross River in the Yukon Territory,
Canada.
Two drill rigs have completed over 9,600 meters of drilling from 66 holes.
All drill holes referenced in this release are diamond drill holes
completed between April 10th and June 9th, 2008, and were targeted to
expand the margins of known mineralization. Further drilling for
delineation of the proposed open pits will continue through the year.
Significant intercepts were received from the Peel, Penguin, Tarn, Break,
and Lab targets within the Manto Zone, and the QB and Gully targets in the
Shamrock Zone. Highlights include 5.15m of 13.6 g/t gold in the Peel
Target of the Manto Zone and
7.27m of 56.0 g/t gold from the QB Target of Shamrock Zone.
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.
Graham Dickson, President and CEO states, "These important results are
certainly a positive indication that the project will continue to expand
its resource available for open pit mining. We are confident that this
project will play a critical role in the profitability of Yukon-Nevada Gold
Corp."
Manto Zone
Peel Target
Eighteen drill holes have been completed in the Peel Target for a total of
2,160 meters. Table 1 below summarizes significant intercepts in the
Peel target zone.
Table 1 - Peel
Target
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Au g/t
|
GT-08-01
|
11.27
|
15.7
|
4.38
|
6.4
|
GT-08-02
|
59.67
|
60.5
|
0.86
|
15.55
|
KR-08-1281
|
11.5
|
17.6
|
6.1
|
4.5
|
19.5
|
24.1
|
4.6
|
2.8
|
26.5
|
28.4
|
1.9
|
4.1
|
KR-08-1283
|
5.39
|
10.5
|
5.15
|
13.6
|
KR-08-1286
|
26.94
|
27.7
|
0.77
|
13.65
|
Penguin Target
Seven holes were drilled in the Penguin target zone during this period, for
a total of 749.8 meters. A summary of significant drill results for
the target is presented in Table 2.
Table 2 - Penguin
Target
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Au g/t
|
GT-08-12
|
92.05
|
96.6
|
4.57
|
8.2
|
KR-08-1269
|
21.38
|
23.5
|
2.09
|
10.1
|
KR-08-1272
|
74.09
|
75.5
|
1.37
|
4.09
|
Tarn Target
A total of five holes were drilled in the Tarn target zone, totaling 1,691
meters. Two ore-grade intercepts were outside of currently modeled
ore zones at shallow depths, as indicated in Table 3 below.
Table 3 - Tarn
Target
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Au g/t
|
KR-08-1276
|
26.52
|
29.30
|
2.78
|
9.9
|
KR-08-1277
|
30.49
|
33.75
|
3.26
|
7.8
|
Break Target
A total of nine drill holes have been completed in the Break target area,
totaling 1,332.9 meters. Of these, two had high-grade intercepts as
shown in Table 4.
Table 4 - Break
Target
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Au g/t
|
KR-08-1288
|
18.52
|
20.4
|
1.9
|
22.4
|
KR-08-1289
|
17.37
|
17.9
|
0.52
|
10.7
|
Lab Target
Drilling in the Lab zone comprised twelve holes totaling 1,924.7
meters. Three drill holes intercepted significant mineralization
outside of the current resource shapes, as summarized in Table 5 below.
Table 5 - Lab
Target
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Au g/t
|
HYD-08-05
|
42.02
|
45.6
|
4.64
|
10.4
|
KR-08-1270
|
54.13
|
57.0
|
2.87
|
16.8
|
KR-08-1275
|
82.14
|
84.5
|
2.39
|
7.4
|
Shamrock Zone
QB Target
The QB target area in the Shamrock Zone returned several ore-grade
intercepts, as shown in Table 6 below.
Table 6 - QB Target
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Au g/t
|
KR-08-1291
|
60.88
|
61.8
|
0.96
|
33.8
|
KR-08-1293
|
44.81
|
52.1
|
7.27
|
56.0
|
KR-08-1294
|
38.52
|
48.1
|
9.6
|
3.3
|
KR-08-1301
|
40.22
|
42.2
|
1.98
|
19.7
|
Gully Target
Drilling in the Gully target area comprised fifteen drill holes totaling
1,781.9 meters. Of these, one hole returned an intercept of interest
as shown in Table 7 below.
Table 7
- Gully Target
Hole ID
|
From (m)
|
To (m)
|
Length (m)
|
Au g/t
|
KR-08-1304
|
51.2
|
58
|
6.77
|
19.1
|
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., and by the company's Executive Vice
President - Exploration, Dorian (Dusty) Nicol, M.Sc., P.Geo., who is the
Qualified Person for the purposes of this release.
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 and by further
acquisitions.
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.
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