Yukon-Nevada Gold Corp. intersects 14.5 meters of 8.95 g/t gold at the Ketza River project



    VANCOUVER, July 30 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) is pleased to report
consistently favorable results from its on-going 2008 drilling program at
Ketza River. The Ketza River property is wholly-owned by Yukon-Nevada Gold
Corp. (YNG), and is a past gold producer located near the town of Ross River
in the Yukon Territory, Canada.
    All drill holes referenced in this release are diamond drill holes
completed between May 3 and June 9, 2008 utilizing two drill rigs and for
which assay reports were received between July 1 and July 27. Drill core from
this period was available for viewing during YNG's analyst tour held on June
21st (<a href="http://www.yukon-nevadagold.com/i/pdf/CHF_In-Brief.pdf">http://www.yukon-nevadagold.com/i/pdf/CHF_In-Brief.pdf</a>). All holes were
targeted to expand the margins of known mineralization as part of the
company's continuing program to expand areas amenable to open-pit mining.
Additional drilling has been targeted within known resource areas as part of
pit planning and an effort to upgrade the quality of the Ketza River Project
resources.
    Note also that the drill intercepts reported herein were not included in
the data used for the NI 43-101 resource estimates released on April 14, 2008,
which contain a measured and indicated resource of 646,600 ounces of gold at a
grade of 4.93 g/t and an inferred resource of 112,800 ounces of gold grading
3.26 g/t and could potentially lead to an increase in the resource of the
Ketza River project. To date 22,104 meters from 170 holes have been drilled in
2008. A complete table of results can be found on our website:
<a href="http://www.yukon-nevadagold.com/i/pdf/KetzaDDH.pdf">http://www.yukon-nevadagold.com/i/pdf/KetzaDDH.pdf</a>
    Significant new intercepts were received from the Peel, Tarn, and Break
Targets within the Manto Zone. Highlights include 14.47m of 8.95 g/t gold,
including an interval of 2.4m at 15.16 g/t gold at a depth of just 32 meters
in the Peel Target. In addition, one drill hole in the Tarn Target intercepted
3.05m of 13.25 g/t gold at a depth of just 11 meters. Graham Dickson,
President and CEO states, "The continued success of the exploration program
emphasizes the company's belief in the value of this most prospective
project."

    
    -------------------------------------------------------------------------
                       Summary - Significant Intercepts
    -------------------------------------------------------------------------
       Hole        Zone      From (m)     To (m)     Thickness     Grade g/t
      Number                                            (m)            Au
    -------------------------------------------------------------------------
    KR-08-1362     Peel       26.62       28.04         1.42          8.18
    -------------------------------------------------------------------------
    KR-08-1362     Peel       32.61       47.08        14.47          8.95
    -------------------------------------------------------------------------
    Including                 32.61       35.01         2.40          15.2
    -------------------------------------------------------------------------
    KR-08-1378     Tarn       11.28       20.42         9.14          7.13
    -------------------------------------------------------------------------
    Including                 11.28       14.33         3.05         13.25
    -------------------------------------------------------------------------
    KR-08-1396     Break      30.52       32.61         2.09          4.43
    -------------------------------------------------------------------------
    

    A condemnation drilling program comprised of seven holes at the proposed
site of a new larger camp encountered 2 - 3 g/t Au over thicknesses of
4.5 meters at depths of 60 to 90 meters. These depths are such that the
proposed camp site will be utilized.
    Thicknesses have been reported as drilled - there is not yet sufficient
information to determine true thicknesses. All assays for the drill program
were conducted by ALS Chemex of North Vancouver, B.C.
    This news release was reviewed and approved by the Chief Geologist at
Ketza River, Erika Shepard, M.Sc., P.Geo., who is the Qualified Person for the
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

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