Jerritt Canyon results continue to expand its resource as reported by Yukon-Nevada Gold Corp.



    VANCOUVER, May 4 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange:
YNG; Frankfurt Xetra Exchange: NG6) is pleased to announce additional assay
results from its 2008 underground exploration drilling at its wholly-owned,
gold production Jerritt Canyon property in Nevada, USA. Drilling from
underground has continued to extend and identify new gold mineralization
beyond the previously modeled resource boundaries. All holes referenced in
this release were drilled from May 28 to August 7, 2008, and for which final
assay reports were received by April 17, 2009 and are shown in the
accompanying map which can be found on our website here:
    http://www.yukon-nevadagold.com/s/NewsReleases.asp.
    Significant new drill hole intercepts received after June 30, 2008 from
underground resource-conversion and exploration drill holes are presented in
Table 1 below. SR-220, an underground core hole intersected 29.0 feet (8.8 m)
at 0.372 ounces per ton gold (12.75 gpt) north of a previously defined
measured and indicated resource.
    Z71369, a reverse circulation underground drill hole located south of an
inferred resource, contained 25.0 feet (7.6 m) of 0.281 ounces of gold per ton
(9.63 gpt). Z71393, a reverse circulation underground drill hole located north
of a measured and indicated resource, contained 25.0 feet (7.6 m) of 0.316
ounces per ton gold (10.83 gpt).
    SR-194 and SR-197 are both underground core holes in Zone 1 of the SSX
Mine and located north-northeast of an existing measured and indicated
resource that contained 15.0 feet (4.6 m) of 0.388 ounces per ton gold (13.30
gpt), and 16.0 feet (4.9 m) of 0.641 ounces per ton gold (21.98 gpt),
respectively.
    Graham Dickson, the President and CEO of Yukon-Nevada Gold Corp., stated
that "These results show that the resource at Jerritt Canyon continues to
expand in many directions. We are confident that the mines can continue to be
profitably mined for many years to come."

    
    Table 1. Selected underground resource conversion and exploration drill
    hole assays received from June 30, 2008 to April 17, 2009 from the
    Jerritt Canyon property.

    -------------------------------------------------------------------------
                                                  Inter- Inter-
    Hole ID      Zone   From   From     To     To   val    val    Au     Au
                        (ft)    (m)   (ft)    (m)   (ft)    (m) (opt)  (g/t)
    -------------------------------------------------------------------------
    Z71369  SSX-STEER  100.0   30.5  125.0   38.1   25.0   7.6  0.281   9.63
    -------------------------------------------------------------------------
    Z71393  SSX-STEER   75.0   22.9  100.0   30.5   25.0   7.6  0.316  10.83
    -------------------------------------------------------------------------
    SR-194        SSX  455.0  138.7  470.0  143.3   15.0   4.6  0.388  13.30
    -------------------------------------------------------------------------
    SR-197        SSX  425.0  129.6  441.0  134.5   16.0   4.9  0.641  21.98
    -------------------------------------------------------------------------
    SR-220        SSX    7.0    2.1   36.0   11.0   29.0   8.8  0.372  12.75
    -------------------------------------------------------------------------
    

    Note that the drill intercepts reported herein are not included in the
April 16, 2008 NI 43-101 measured and indicated resource. In 2008 a total of
124,396 feet in 912 underground holes (production and exploration) were
drilled at the Smith and SSX-Steer Complex mines.
    As of this date, 8 underground resource conversion and exploration drill
holes from the 2008 drilling program conducted at the SSX Mine remain to be
assayed.
    A complete table of updated results for the 2008 drilling program may be
found on our website:
    http://www.yukon-nevadagold.com/i/pdf/JC-UNGD-DrillData-Apr-17-09.pdf
    Assays from the underground exploration holes reported in this news
release were by ALS Chemex, North Vancouver, B.C. and by the company's assay
laboratory at the Jerritt Canyon Mine, using standard fire assay techniques.
Intercepts are reported as drilled. True widths have not yet been calculated;
given the geometry of mineralization at Jerritt Canyon, the concept of true
width is not always meaningful before delineation drilling has been completed.
    The company's Quality Assurance and Quality Control protocols are
available in the Company's NI 43-101 Technical Report dated April 16, 2008 and
is available on www.sedar.com and on our website:
    http://www.yukon-nevadagold.com/s/JerrittCanyon.asp?ReportID=195388.
    This News release was reviewed and approved by the Company's Senior
Geologist, Todd Johnson, M.Sc., the Qualified Person for 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.

    
    If you would like to receive press releases via email please contact
    nicole@yngc.ca and specify "Yukon-Nevada Gold Corp. releases" in the
    subject line.

    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.

    %SEDAR: 00004098E




For further information:

For further information: Yukon-Nevada Gold Corp., Nicole Sanches,
Investor Relations Manager, Tel: (604) 688-9427, Email: nicole@yngc.ca,
www.yukon-nevadagold.com; CHF Investor Relations, Jacqueline Wagenaar, Account
Manager, Tel: (416) 868-1079 ext. 289, Email: jacqueline@chfir.com,
www.chfir.com

Organization Profile

Veris Gold Corp.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890