VANCOUVER, June 1 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) announces that a delay in the
fabrication of certain fiberglass ductwork has resulted in the Company being
unable to meet a deadline to complete the installation of new mercury -
emission - control equipment at the Jerritt Canyon Mine. Therefore, in
compliance with NDEP Order 2009-4, Queenstake Resources Inc. USA (Queenstake),
a wholly owned subsidiary of Yukon-Nevada Gold Corp. (YNG), has discontinued
operation of its roaster circuits at the Jerritt Canyon Mine.
The ductwork will be used in the installation of a calomel-based mercury
control system required by the NDEP to ensure the company complies with
state-mandated mercury emission limits, and to minimize the proportion of
oxidized (reactive) mercury released to the air.
Queenstake notified the NDEP that both roaster circuits at the Jerritt
Canyon Mine ceased operation at 11 p.m. May 30.
Queenstake has successfully complied with other requirements of operation
per NDEP Order 2009-4. While the roasters are off-line to complete the
required work, the processing of ore already roasted and the recovery of gold
The Company expects to take delivery of the fiberglass duct work and have
the new mercury emission control equipment installed before the end of June.
Following a year-long investigation into mercury emissions, in March 2008
the NDEP ordered Queenstake Resources to install new state-of-the-art emission
control equipment at the Jerritt Canyon Mine by the end of that year. Before
the NDEP's order was satisfied, Queenstake Resources, by its own action,
stopped mining and processing ore at Jerritt Canyon Mine in August 2008. The
facility remained shut down while the new emission control systems were
designed. Staff from Queenstake Resources and the NDEP worked together to
resolve several air emission issues related to the roasting operation.
NDEP issued an Order March 25, allowing Queenstake to restart ore
processing operations after the mine's initial environmental compliance was
satisfied. The requirement to shut down the roaster does not affect the
operation of the milling and gold recovery portion of the plant. This ensures
that the Company cash flow and other operations can continue.
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.
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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.
For further information:
For further information: Yukon-Nevada Gold Corp., Nicole Sanches,
Investor Relations Manager, Tel: (604) 688-9427, Email: email@example.com,
www.yukon-nevadagold.com; CHF Investor Relations, Jacqueline Wagenaar, Account
Manager, Tel: (416) 868-1079 ext. 289, Email: firstname.lastname@example.org,