Yukon-Nevada Gold Corp. closes two private placements



    VANCOUVER, Feb. 27 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) Graham Dickson, the President of
Yukon-Nevada Gold Corp. (the "Company"), announces that the Company has closed
two non-brokered private placement as follows:

    
    1.     17,333,333 units ("Unit 1") at a price of $0.06 per Unit 1 to net
           the treasury an aggregate of $1,040,000. A finder's fee was paid
           in respect of a portion of the private placement.

           Each Unit 1 consists of one common share (a "Share") and one Share
           purchase warrant (the "Warrant"). The Warrant can be exercised to
           purchase one additional Share (the "Warrant Share") at a price of
           $0.08 within 24 months of closing of the private placement.

           In accordance with securities legislation currently in effect, the
           Shares, the Warrants and the Warrant Shares will be subject to
           "hold period" of four months plus one day expiring on
           June 26, 2009.

    2.     10,000,000 units ("Unit 2") at a price of $0.05 per Unit 2 to net
           the treasury an aggregate of $500,000. A finder's fee was paid in
           respect of the private placement.

           Each Unit 2 consists of one common share (a "Share") and two
           series of Share purchase warrants. The first warrant (the "Series
           "A" Warrant") can be exercised to purchase one additional Share
           (the ""A" Warrant Share") at a price of $0.07 per share within 12
           months of closing of the private placement and the second warrant
           (the "Series "B" Warrant") can be exercised to purchase one
           additional Share (the ""B" Warrant Share")at a price of $0.09 per
           share within 18 months of closing of the private placement.

           In accordance with securities legislation currently in effect, the
           Shares, the "A" Warrants, the "B" Warrants, the "A" Warrant Shares
           and the "B" Warrant Shares will be subject to "hold period" of
           four months plus one day expiring on June 25, 2009.
    

    The proceeds from this private placement will finance the operations at
the Jerritt Canyon property during the mill pre-start up phase as well as
partially fund the necessary capital improvements required to the mill
facility.

    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

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