Yukon-Nevada Gold Corp. reports more important results at SSX Mine, Jerritt Canyon



    VANCOUVER, Jan. 14 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) announces results of its
exploration drilling in the SSX Mine/Steer Mine area at its wholly owned, gold
production Jerritt Canyon property in Nevada, USA.

    SSX Mine 2007 Drilling Update

    Drilling with underground diamond drills (core) and reverse circulation
(RC) has continued to extend and identify new resources within the SSX - Steer
Mine Complex. From January 1 to November 30, 405 resource conversion holes
(including both RC and core) were drilled totaling 69,547 feet (21,198
meters).
    All intercepts reported in this News Release are outside the resource
boundaries as estimated at year-end 2006 and therefore represent additions to
mineralization.

    Zone 7 - Steer Resource

    Early in the year several RC holes were drilled into an inferred resource
in the hanging wall of the Husky Fault. Mineralization was encountered at the
contact between units 3 and 4 of the Hanson Creek Formation. Highlights of
intercepts included Z70590 with 70 feet (21.3 meters) of 0.210 ounces of gold
per ton (opt) or 7.20 grams of gold per tonne (gpt), Z70591 with 45 feet
(13.7 meters) of 0.303 opt (10.38 gpt), Z70593 with 55 feet (16.8 meters) of
0.288 opt (9.87 gpt) and Z70594 45 feet (13.7 meters) of 0.243 opt (8.33 gpt).
Follow up core drilling was done in the late summer and resulted in additional
intercepts including SR-134 with 47.5 feet (14.5 meters) of 0.281 opt
(9.63 gpt) and SR-135 with 69 feet (21 meters) of 0.213 opt (7.30 gpt). This
is immediately below an area that has been actively mined over the last couple
of years.

    
                       Table 1. Zone 7 - Steer Resource

    -------------------------------------------------------------------------
    Drill           From             To          Thickness         Grade
    Hole    -----------------------------------------------------------------
    Number       ft     (m)      ft     (m)      ft     (m)     Opt     g/t
    -------------------------------------------------------------------------
    SR-134     250.5    76.4   298.0    90.8    47.5    14.5   0.281    9.63
    -------------------------------------------------------------------------
    SR-135       195    59.4     264    80.5      69    21.0   0.213    7.30
    -------------------------------------------------------------------------
    Z70590       185    56.4     255    77.7      70    21.3   0.210    7.20
    -------------------------------------------------------------------------
    Z70591       155    47.2     200    61.0      45    13.7   0.303   10.38
    -------------------------------------------------------------------------
    Z70592       120    36.6     145    44.2      25     7.6   0.287    9.84
    -------------------------------------------------------------------------
    Z70593       240    73.2     295    89.9      55    16.8   0.288    9.87
    -------------------------------------------------------------------------
    Z70594       200    61.0     245    74.7      45    13.7   0.243    8.33
    -------------------------------------------------------------------------
    Z70595       155    47.2     180    54.9      25     7.6   0.256    8.78
    -------------------------------------------------------------------------
    Z70590       185    56.4     255    77.7      70    21.3   0.210    7.20
    -------------------------------------------------------------------------
    

    Zone 5

    During the summer several exploration holes were drilled from the
7166 Ramp in Zone 5 to test for possible extensions of known mineralization.
One of these RC holes, Z53987, hit 35 feet (10.7 meters) of 0.735 opt (25.19
gpt). The hole bottomed in 0.500 opt (17.14 gpt) rock. Follow up drilling core
resulted in SR-142 hitting 42 feet (12.8 meters) of 0.513 opt (17.58 gpt).
These relatively flat holes will be followed up with additional underground
core and surface RC holes to determine the thickness of the mineralization.
    Drifting to establish a secondary escape to the Saval 3 pit encountered
several feet of mineralization in a basalt dike. This mineralization was
tested with underground RC drilling from the 6942 Ramp. Significant results
included Z54257 with 45 feet (13.7 meters) of 0.691 opt (23.68 gpt), Z54258
with 35 feet (10.7 meters) of 0.446 opt (15.28 gpt), and Z54259 with 35 feet
(10.7 meters) of 0.664 opt (22.76 gpt). Additional core drilling from
underground is underway to determine the extent of this mineralization.
    Core drilling on the 7045 level in Zone 5 successfully extended the dike
hosted mineralization an additional 40 feet (12.2 meters) to the east. Here,
SR-143 intercepted 18 feet (5.5 meters) of 0.351 opt (12.03 gpt).

    
                               Table 2. Zone 5

    -------------------------------------------------------------------------
    Drill           From             To          Thickness         Grade
    Hole    -----------------------------------------------------------------
    Number       ft     (m)      ft     (m)      ft     (m)     Opt     g/t
    -------------------------------------------------------------------------
    SR-142       359   109.4     401   122.2      42    12.8   0.513   17.58
    -------------------------------------------------------------------------
    SR-143       143    43.6     161    49.1      18     5.5   0.351   12.03
    -------------------------------------------------------------------------
    Z53987       240    73.2     275    83.8      35    10.7   0.735   25.19
    -------------------------------------------------------------------------
    Z54252        45    13.7      60    18.3      15     4.6   0.385   13.20
    -------------------------------------------------------------------------
    Z54253        15     4.6      70    21.3      55    16.8   0.223    7.65
    -------------------------------------------------------------------------
    Z54256        25     7.6      40    12.2      15     4.6   0.222    7.61
    -------------------------------------------------------------------------
    Z54257        10     3.0      55    16.8      45    13.7   0.691   23.68
    -------------------------------------------------------------------------
    Z54258        10     3.0      45    13.7      35    10.7   0.446   15.28
    -------------------------------------------------------------------------
    Z54259        15     4.6      50    15.2      35    10.7   0.664   22.76
    -------------------------------------------------------------------------
    

    Assays from both surface exploration holes and from underground 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. The Company's Quality Assurance and Quality Control
protocols are available in the Company's NI 43-101 Technical Report dated
May 1st, 2007 and available on www.sedar.com. 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. This News Release
was reviewed and approved by the Company's Executive Vice
President-Exploration, Dorian L. (Dusty) Nicol, M.Sc., P.Geo., the Qualified
Person for purposes of this release.

    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,
Manager, IR, Tel: (604) 688-9427, Email: nicole@yngc.ca,
www.yukon-nevadagold.com; CHF Investor Relations, Jeanny So, Broker Relations
Specialist, Tel: (416) 868-1079 ext. 225, Email: jeanny@chfir.com,
www.chfir.com

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