Yukon-Nevada Gold Corp. reports more significant results at Mahala Creek, Jerritt Canyon



    VANCOUVER, Jan. 8 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) announces results of its
exploration drilling in the Smith Mine/Mahala Creek area at its wholly owned,
gold production Jerritt Canyon property in Nevada, USA.

    Smith Mine 2007 Drilling Update

    Drilling with underground diamond drills (core) and reverse circulation
(RC) has continued to extend resources within the Smith/Mahala Mine. From
August to December 2007, 29 resource-conversion holes (including both RC and
core) were completed totaling 7,257 feet (2,212 meters).

    Zone 7 - West Dash

    Earlier in the year, a new zone of high grade mineralization was
discovered by development drifting directly south of the main ore-zones in
West Dash (first reported in August 7, 2007 YNGC New Release). Subsequent
mapping and drilling defined the mid-level and down-dip portions of the
moderately inclined, N-S trending tabular zone. However, the upper extent was
still unknown. To outline the upper portion, nine new RC holes were drilled
with five of the holes encountering ore-grade mineralization over mineable
widths. Drifting has been initiated on this zone with mined grades routinely
exceeding 0.5 ounces of gold per ton (opt) or 17.14 grams of gold per tonne
(g/T).

    
                         Table 1. Zone 7 - West Dash

    Drill Hole
    Number         From             To         Thickness           Grade
    -------------------------------------------------------------------------
                ft     m       ft       m      ft      m       Opt.      g/T
    -------------------------------------------------------------------------
    C70069     120   39.4     145     47.6     25     7.6     0.229     7.85
    -------------------------------------------------------------------------
    C70070     120   39.4     135     44.3     15     4.6     0.176     6.03
    -------------------------------------------------------------------------
    C70073     165   54.1     180     59.1     15     4.6     0.546    18.72
    -------------------------------------------------------------------------
    C70075     130   42.7     145     47.6     15     4.6     0.409    14.02
    -------------------------------------------------------------------------
    C70076     140   45.9     165     54.1     25     7.6     0.820    28.11
    -------------------------------------------------------------------------
    

    Zone 4 - Mahala dike trend

    Following emplacement of exploration and development drifting to the west
along the prolific Mahala dike trend, twelve new RC drill holes within three
fans were completed. The results of this drill program show that the
high-grade gold mineralization continues at least 70 feet (21.3 meters) west
of what had been previously outlined. Five intercepts with significant gold
values are listed below.
    In addition to the RC drilling, a series of exploration core holes were
drilled from the end of the exploration drift 120 feet to the west of the RC
drilling mentioned above. Assay results from only one hole are available at
this time. The core hole (LX-729) encountered two mineralized dikes close to
the drift.

    

                     Table 2. Zone 4 - Mahala Dike Trend

    Drill Hole
    Number         From             To         Thickness           Grade
    -------------------------------------------------------------------------
                ft     m       ft       m      ft      m       Opt.      g/T
    -------------------------------------------------------------------------
    C40769      20    6.6      35     11.5     15     4.6     0.546    18.72
    -------------------------------------------------------------------------
    C40770      25    8.2      55       18     30     9.2     1.070    36.68
    -------------------------------------------------------------------------
    C40771      20    6.6      35     11.5     15     4.6     0.332    11.38
    -------------------------------------------------------------------------
    C40775      75   24.6     130     42.7     55    16.8     0.269     9.22
    -------------------------------------------------------------------------
    C40778      75   24.6     105     34.4     30     9.2     0.317    10.87
    -------------------------------------------------------------------------
    LX-729      20    6.6      35     11.5     15     4.6     0.186     6.38
    -------------------------------------------------------------------------
    LX-729      90   29.5     109     35.8     19     5.8     0.156     5.35
    -------------------------------------------------------------------------
    

    Zone 2 - Coulee dike trend

    As part of an on-going underground and surface exploration program to
identify and delineate gold mineralization along the Coulee dike trend to the
west of current underground workings, six underground core holes were drilled
to the northwest from a development drift. Results of this drilling have led
to the identification of a narrow, high-grade dike just north of the
development drift. This mineralization ties in with high-grade intercepts in
the bottom of a surface RC drill-hole to the west and in an underground core
hole to the east. High-grade mineralization appears to be confined to a gently
east-plunging rake line about 20 feet high and up to 200 feet long within the
dike. This is a similar configuration to productive zones in the high-grade R4
and R11 dikes directly to the northeast.

    
                     Table 3. Zone 2 - Coulee Dike Trend

    Drill Hole
    Number         From             To         Thickness           Grade
    -------------------------------------------------------------------------
                ft     m       ft       m      ft      m       Opt.      g/T
    -------------------------------------------------------------------------
    LX-704      56   18.4      72     23.6     16     4.9     0.435    14.91
    -------------------------------------------------------------------------
    LX-705      86   28.2     110     36.1     24     7.3     0.334    11.45
    -------------------------------------------------------------------------
    LX-707      50   16.4      65     21.3     15     4.6     0.343    11.76
    -------------------------------------------------------------------------
    

    Assays from both surface exploration holes and 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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