TORONTO, Dec. 17 /CNW/ - Yukon Gold Corporation, Inc. (Yukon Gold), (TSX:
YK, OTCBB: YGDC, Frankfurt: W8Y) announced that is has accepted the
resignation of Mr. Ronald K. Mann as President, CEO and Director on December
12, 2008. In addition, Yukon Gold Corporation, Inc. (the "Company") has
accepted the resignation of G.E. "Ted" Creber as a Director, effective
December 11, 2008.
Mr. Mann stated that he has no disagreements with the Company with
respect to the Company's operations or disclosure filings.
J.L. Guerra, Jr. Chairman of the Board of Directors expressed his
appreciation of Mr. Mann and Mr. Creber's efforts in moving the company
forward with its highly regarded mineral assets in Yukon, Canada.
On December 12, 2008, J.L. Guerra, Jr. was appointed President and Chief
Executive Officer of the Company. Mr. Guerra has been involved with the
company since 2002, and was appointed a director of the Company on November 2,
2005. Mr. Guerra was elected Chairman of the Board of Yukon Gold on July 11,
2006. He is also a member of the Company's Audit Executive Committee and
Compensation Committee. Mr. Guerra has over twenty years experience investing,
organizing and directing junior exploration mining concerns. In addition Mr.
Guerra operates his own private companies in the real estate brokerage,
acquisition and development business in San Antonio, Texas.
Mr. Guerra is looking forward to the hands on challenge of renewing the
long-term commitment and potential of Yukon Gold. "The times are challenging
but our assets remain some of the most promising in the industry. Once the
market genuinely reflects on this we expect our value to be truly
appreciated," said Mr. Guerra.
About Yukon Gold
Yukon Gold Corporation, Inc. (Yukon Gold) explores and develops mining
properties with a commitment to moving projects towards production. Yukon
Gold's 100% owned Marg Deposit is an advanced stage
copper/lead/zinc/silver/gold deposit in the Tombstone Belt in Yukon, Canada.
Currently there are 33.5 M of the Company's common shares outstanding.
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of the United
States Securities Exchange Act of 1934, as amended. Except for statements of
historical fact relating to the company, certain information contained herein
constitutes forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan," "expect," "project,"
"intend," "believe," "anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. These factors include the inherent risks involved in the
exploration and development of mineral properties, the uncertainties involved
in interpreting drilling results and other ecological data, fluctuating metal
prices, the possibility of project cost overruns or unanticipated costs and
expenses, uncertainties relating to the availability and costs of financing
needed in the future and other factors. The Company undertakes no obligation
to update forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to place
undue reliance on forward-looking statements.
Cautionary Note to US Investors - The United States Securities and
Exchange Commission (SEC) limits disclosure for U.S. reporting purposes to
mineral deposits that a company can economically and legally extract or
produce. The reader is cautioned that the terms "resource," "indicated" and
"inferred" are not terms recognized by SEC guidelines for disclosure of
mineral properties. Generally, "indicated" and "inferred" estimates do not
rise to the level of certainty required by SEC guidelines. The mineralized
material described above is not considered a "reserve" as that term is used in
the mining industry and in SEC disclosure guidelines. The Company must
undertake a feasibility study before it can estimate the value of the Marg
Deposit. U.S. investors are urged to consider closely the disclosure in our
Form 10-KSB, File No. 000-51068. You can review and obtain copies of these
filings from the SEC's website at http://www.sec.gov/edgar.shtml.
%SEDAR: 00023805E
For further information: Yukon Gold Corporation, Inc., Cletus Ryan, VP
Corporate Development, (416) 865-9869 or 1-800-295-0671 x12, Email:
cryan@yukongoldcorp.com, Website: www.yukongoldcorp.com
