Yukon-Nevada Gold Corp. moves to secure financing for mine expansion



    VANCOUVER, July 31 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) is pleased to announce that it
has engaged the Commodities and Resource Finance Division of Investec Bank
(UK) Limited ("Investec") to arrange project finance and hedging facilities
for the expansion of the Company's Jerritt Canyon Mine in Nevada.
    The facilities are comprised of a term loan of US$40 million and a
partial gold hedging program for the term of the loan.
    Investec's underwriting commitment is subject to a number of conditions
precedent, including completion of due diligence and documentation and
Investec's final internal approvals.
    Investec has the exclusive right to arrange and underwrite the facilities
until September 30, 2008, but the parties will use their best efforts to
complete the arrangements by August 31, 2008.

    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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