Yukon Gold Corporation, Inc. - Marg Drilling starts



    TORONTO, July 3 /CNW/ - Yukon Gold Corporation, Inc. ("Yukon Gold" or the
"Company"), (TSX: YK) (OTCBB: YGDC) (Frankfurt: W8Y) is pleased to announce
the start of drilling on the Marg deposit.

    Marg Drilling on Schedule

    As of July 2, over 430m have been drilled and the drill is on its third
metallurgical test hole. The results of the metallurgical testing will be used
to supplement the Scoping Study which is currently underway.
    An additional 2000 metres of exploratory drilling will target the
extension of high grade zones in the Marg Deposit.
    In addition work is continuing to develop targets elsewhere on the
property in geologic environments similar to the Marg deposit with associated
airborne EM conductors, geochemical anomalies and alteration in out crops in
select areas. The Jane and Leyla zones in particular have the potential to
result in a major resource expansion.

    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 28.9M of the Company's common shares outstanding.
    The technical information in this Press Release has been reviewed by Gary
A. Cohoon, VP Exploration and a qualified person.

    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.





For further information:

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, Company Website:
www.yukongoldcorp.com

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