Yukon Gold Drills Into Possible Extensions Of Higher Grade Mineralization

    TORONTO, July 24 /CNW/ - Yukon Gold Corporation, Inc. ("Yukon Gold" or
the "Company"), (TSX: YK) (OTCBB: YGDC) (Frankfurt: W8Y) is pleased to
announce the start of exploration drilling on the Marg deposit.

    Exploration Drilling

    Based on an analysis of the Resource Estimate of June 30, 2008 (see Press
Release July 9): Yukon Gold believes that there is potential for extensions of
higher grade mineralization in at least two locations. Initially, 2 holes are
planned following the trend of thicker intersections of the D and C horizons
in the eastern portion of the deposit. A third hole is possible in this area.
    Drilling will also follow up the higher-grade mineralization and mineable
widths in drill hole M-100 in the western extreme of the deposit. (see press
release of December 5, 2007) The mineralization in hole M-100, which occurs at
relatively shallow depths, is open down dip and for up to 300 metres on
strike, was located only last year; an indication of the potential for further
exploration in the immediate deposit area.

    Success in developing a higher-grade westerly extension of the deposit
may result in a significant resource expansion.

    Targets are still being developed west of the current limits of drilling,
west of the airstrip.

    Metallurgical Drilling completed

    Drilling of 1,907 metres in six holes for metallurgical test work has
been completed and samples have been shipped to G&T Metallurgical Services in
Kamloops B.C. The metallurgical test work will permit the inclusion of more
accurate estimates of recovery for each metal which may result in a revision
of the NSR values used for the June 30th Resource Estimate.

    About Yukon Gold

    Yukon Gold Corporation, Inc. (Yukon Gold) explores and develops mining
properties with a commitment to moving projects towards production. Yukon
Gold's 100% owned Marg Deposit is an advanced stage
copper/lead/zinc/silver/gold deposit in the Tombstone Belt in Yukon, Canada.
Currently there are 29.5M of the Company's common shares outstanding.

    The technical information in this Press Release has been reviewed by Gary
A. Cohoon, VP Exploration and a qualified person.

    FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of the United
States Securities Exchange Act of 1934, as amended. Except for statements of
historical fact relating to the company, certain information contained herein
constitutes forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan," "expect," "project,"
"intend," "believe," "anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. These factors include the inherent risks involved in the
exploration and development of mineral properties, the uncertainties involved
in interpreting drilling results and other ecological data, fluctuating metal
prices, the possibility of project cost overruns or unanticipated costs and
expenses, uncertainties relating to the availability and costs of financing
needed in the future and other factors. The Company undertakes no obligation
to update forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to place
undue reliance on forward-looking statements.
    Cautionary Note to US Investors - The United States Securities and
Exchange Commission (SEC) limits disclosure for U.S. reporting purposes to
mineral deposits that a company can economically and legally extract or
produce. The reader is cautioned that the terms "resource," "indicated" and
"inferred" are not terms recognized by SEC guidelines for disclosure of
mineral properties. Generally, "indicated" and "inferred" estimates do not
rise to the level of certainty required by SEC guidelines. The mineralized
material described above is not considered a "reserve" as that term is used in
the mining industry and in SEC disclosure guidelines. The Company must
undertake a feasibility study before it can estimate the value of the Marg
Deposit. U.S. investors are urged to consider closely the disclosure in our
Form 10-KSB, File No. 000-51068. You can review and obtain copies of these
filings from the SEC's website at http://www.sec.gov/edgar.shtml.

For further information:

For further information: Yukon Gold Corporation, Inc., Cletus Ryan, VP
Corporate Development, (416) 865-9869 or 1-800-295-0671 x12, Email:
cryan@yukongoldcorp.com, Website: www.yukongoldcorp.com, Company Website:

Organization Profile

GlobalMin Ventures Inc

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