Increase in the grade of the resource at Ketza River is a milestone on the road to production for Yukon-Nevada Gold Corp.

    VANCOUVER, March 5 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) announces that it has completed
an updated resource estimate for its 100% owned Ketza River property in the
Yukon Territory, which significantly increases the grade of its previously
reported resource. The currently estimated resource at Ketza River, as of
year-end 2007, consists of a measured and indicated resource of 646,400 ounces
at a grade of 4.93 grams of gold per tonne (gpt), comprised of a measured
resource of 146,500 ounces at a grade of 6.40 gpt and an indicated resource of
499,900 at a grade of 4.61 gpt. There is an additional inferred resource of
112,800 ounces at a grade of 3.26 gpt. These estimates are tabulated by area
in the tables below; the map showing their locations can be accessed on the
Company's web site.


SOURCE DECEMBER 2007 ------------------------------------------------------------------------- MEASURED INDICATED Deposit/Mine ------------------------------------------------------ K Tonne g/t K Oz K Tonne g/t K Oz ------------------------------------------------------------------------- Pit Resources (1 gpt cutoff) ------------------------------------------------------------------------- Peel-Break 303.2 7.17 69.8 1,878.6 5.14 310.6 ------------------------------------------------------------------------- Penguin-Lab-Hoodoo 205.2 7.70 50.8 567.7 3.56 65.0 ------------------------------------------------------------------------- Shamrock (Gully- QB-3m) 182.5 3.65 21.4 519.6 3.58 59.8 ------------------------------------------------------------------------- Tarn - - 54.6 4.26 7.5 ------------------------------------------------------------------------- Subtotal 690.9 6.39 142.0 3,020.5 4.56 442.9 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U/G Resources (3 gpt cutoff) ------------------------------------------------------------------------- Peel-Break 2.0 4.34 0.3 98.9 5.73 18.2 ------------------------------------------------------------------------- Penguin-Lab-Hoodoo 18.5 6.78 4.0 70.7 5.05 11.5 ------------------------------------------------------------------------- Shamrock (Gully- QB-3m) 0.8 3.78 0.1 175.8 4.74 26.8 ------------------------------------------------------------------------- Tarn - - 3.6 4.92 0.6 ------------------------------------------------------------------------- Subtotal 21.3 6.43 4.4 349.0 5.09 57.1 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Total All Sources 712.2 6.40 146.5 3,369.5 4.61 499.9 ------------------------------------------------------------------------- ---------------------------------------------- MEASURED & INDICATED Deposit/Mine --------------------------- K Tonne g/t K Oz ---------------------------------------------- Pit Resources (1 gpt cutoff) ---------------------------------------------- Peel-Break 2,181.8 5.42 380.5 ---------------------------------------------- Penguin-Lab-Hoodoo 772.9 4.66 115.8 ---------------------------------------------- Shamrock (Gully- QB-3m) 702.1 3.60 81.2 ---------------------------------------------- Tarn 54.6 4.26 7.5 ---------------------------------------------- Subtotal 3,711.4 4.90 584.9 ---------------------------------------------- ---------------------------------------------- U/G Resources (3 gpt cutoff) ---------------------------------------------- Peel-Break 100.9 5.70 18.5 ---------------------------------------------- Penguin-Lab-Hoodoo 89.2 5.40 15.5 ---------------------------------------------- Shamrock (Gully- QB-3m) 176.6 4.74 26.9 ---------------------------------------------- Tarn 3.6 4.92 0.6 ---------------------------------------------- Subtotal 370.3 5.17 61.5 ---------------------------------------------- ---------------------------------------------- Total All Sources 4,081.7 4.93 646.4 ---------------------------------------------- Yukon-Nevada Gold's President and Chief Executive Officer, Graham C. Dickson, commented, "We are pleased to see this significant increase in the average grade of the resource and to note that the great majority of the resource (90.5%) will be mined by open pit. This is an important step in the transition of Ketza River from an exploration camp to a gold producer and a testimonial to the hard work and dedication of the exploration staff who have worked at this site twenty four hours a day for the last thirty three months". Ketza River is currently transitioning from an exploration project to feasibility and, therefore, the current resource estimate has focused on establishing higher grade resource shapes that can form the basis for eventual mineable reserves. As a result, mineralization that is not deemed to have a reasonable expectation of being eventually mineable has been excluded from the current resource. A cut-off grade of 1.0 gpt has been used for shapes that are believed to be amenable to eventual open-pit mining (see note) while a cut-off of 3.0 gpt has been applied to resource shapes that would have to be mined from underground. In addition, most gold mineralization has been tightly constrained geologically using structural and stratigraphic features established by mining records and 3-dimensional geologic analysis; the nature of these geologic constraints, has to a great extent, been the result of work carried out on the property during the last year. Compared to the last reported resource estimates for Ketza River (2004, 2005), the current measured and indicated resource estimate represents a decrease of about 110,000 ounces of gold from a previously estimated 756,700 ounces but, more significantly, at a much higher grade (4.93 gpt compared to the previous 2.76 gpt). The measured component of the resource is currently at 6.40 gpt compared to a previous 3.54 gpt. Table 2. KETZA RIVER INFERRED RE

SOURCE DECEMBER 2007 ------------------------------------------------------------------------- INFERRED --------------------------- Deposit/Mine K Tonne g/t K Oz ------------------------------------------------------------------------- Pit Resources (1 g/t Cutoff) ------------------------------------------------------------------------- Peel-Break 298.1 2.79 26.7 ------------------------------------------------------------------------- Penguin-Lab-Hoodoo 188.1 2.33 14.1 ------------------------------------------------------------------------- Shamrock (Gully-QB-3m) 229.7 2.83 20.9 ------------------------------------------------------------------------- Tarn 46.3 2.20 3.3 ------------------------------------------------------------------------- Subtotal 762.2 2.65 65.0 ------------------------------------------------------------------------- ------------------------------------------------------------------------- U/G Resources (3 g/t cutoff) ------------------------------------------------------------------------- Peel-Break 27.6 3.72 3.3 ------------------------------------------------------------------------- Penguin-Lab-Hoodoo 59.9 4.14 8.0 ------------------------------------------------------------------------- Shamrock (Gully-QB-3m) 225.9 5.03 36.5 ------------------------------------------------------------------------- Tarn - - - ------------------------------------------------------------------------- Subtotal 313.4 4.74 47.8 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Total All Sources 1,075.6 3.26 112.8 ------------------------------------------------------------------------- Estimated inferred resources have declined from a previously reported 1,054,400 ounces at 2.25 gpt to the currently estimated 112,800 ounces at 3.26 gpt. The Company believes that this decrease in inferred resource reflects new drilling and stricter constraints placed on the estimation and not a decrease in exploration potential of the over-all property. Numerous encouraging exploration targets remain untested throughout the project area, including several which would represent stepouts or extension from currently identified resource. This resource estimate was prepared by Yukon-Nevada Gold geologic staff and Russ White of SRK under the supervision of the Company's Executive Vice President - Exploration, Dorian L. (Dusty) Nicol, who is a qualified person under N.I. 43-101. This estimate has been reviewed and approved by Russ White of SRK who is the qualified person for this news release. SRK is preparing a 43-101 Technical Report incorporating these results; it is estimated that this report will be completed and available by early April 2008. Note: In order to establish potential surface mineability, pit shells were created using a Lerchs-Grossmann algorithm at $1,000 USD per ounce gold price and basic cost and recovery criteria as recommended by SRK Consulting (US), Inc. which include $12/tonne process costs, $2.82/tonne mining costs, 85% metallurgical recovery, and 45 degree pit slopes. If you would like to receive press releases via email please contact 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:,; CHF Investor Relations: Jacqueline Wagenaar,
Associate Account Manager, Tel: (416) 868-1079 ext. 289, Email:,

Organization Profile

Veris Gold Corp.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890