Vancouver, BC - August 8, 2008 -- Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) announces its has contracted with Small Mine Developers (SMD) to continue mining at its Smith Mine at the Jerritt Canyon Project, Nevada. President and CEO Graham Dickson stated that "with our present mining plan our underground operations were not showing the profitability needed to continue or to expand our mining operations. However the contractors SMD have been engaged to mine ore grade material at a cost such that it can be processed profitably at our own milling facility." For two decades now, SMD has been on the leading edge of mechanized underground mining innovation in the western United States. Yukon-Nevada Gold will now continue to process its own ore, its own stockpiled ore and the stockpiled ore of Newmont under its existing agreement with Newmont which lasts to the end of the year. Yukon-Nevada Gold is in negotiations with Newmont with regard to a further milling agreement on a cost plus basis at a rate of 3,000 tpd. Yukon-Nevada Gold is additionally pursuing further milling contracts for ore generated in the Jerritt Canyon area which can be processed through either its roasting facility or its separate wet milling facility. 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.
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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.
Yukon-Nevada est une société développant des projet miniers d'or basée au Canada.
Yukon-Nevada détient divers projets d'exploration au Canada.
Ses principaux projets en production sont JERRITT CANYON MINE, JERRITT CANYON, JERRITT CANYON-MURRAY, JERRITT CANYON - MURRAY ZONE 9, JERRY CANYON - SSX, JERRY CANYON - EAST SMITH, JERRY CANYON - SAVAL, JERRY CANYON - STARVATION, JERRY CANYON - WRIGHT WINDOW, JERRITT CANYON STOCKPILES, JERRY CANYON - UG RESOURCES, JERRY CANYON - SMITH et JERITT CANYON - PIT RESOURCES en USA, son principal projet en développement est KETZA RIVER MANTO ZONE au Canada et ses principaux projets en exploration sont WOLF PROPERTY, MONEY CLAIMS, SILVER VALLEY PROPERTY, KETZA - SHAMROCK ZONE et KETZA RIVER au Canada.
La valeur de son action a atteint son plus bas niveau récent le 12 décembre 2008 à 0,02 CA$, et son plus haut niveau récent le 12 février 2013 à 2,95 CA$.
Yukon-Nevada possède 930 644 000 actions en circulation.