Yukon-Nevada Gold Corp. announces private placement

    VANCOUVER, Feb. 4 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) Graham Dickson, the President of
Yukon-Nevada Gold Corp. (the "Company"), announces that the Company has
negotiated a $500,000 non-brokered private placement to sell up to 10,000,000
units (the "Units") at a price of $0.05 per Unit. A finder's fee is payable on
the private placement.
    Each Unit will consist of one common share (a "Share") and two series of
share purchase warrants (the "Warrant"). The first warrant (the "Series "A"
Warrant") can be exercised to purchase one additional common share (a "Warrant
Share") at a price of $0.07 per share within 12 months of closing of the
private placement and the second warrant (the "Series "B" Warrant) can be
exercised to purchase a Warrant Share at a price of $0.09 per share within 18
months of closing of the private placement.
    In accordance with securities legislation currently in effect, the
Shares, the Warrants and the Warrant Shares will be subject to "hold period"
of four months plus one day from the date of issuance of the aforesaid
    The proceeds of the private placement transaction will be used for mill
operations at the Company's Jerritt Canyon Mine, Nevada.

    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

    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: nicole@yngc.ca,
www.yukon-nevadagold.com; CHF Investor Relations, Jacqueline Wagenaar, Account
Manager, Tel: (416) 868-1079 ext. 289, Email: jacqueline@chfir.com,

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