Yukon-Nevada Gold Corp. Appoints New Vice President Mining and a Manager of New Operations

    VANCOUVER, Jan. 16 /CNW/ - Yukon-Nevada Gold Corp. (YNG: TSX, NG6: FSE)
is excited to announce the appointment of David Drips, B.Sc. Mining
Engineering, as its new Vice President Mining and also the promotion of Sam
Ash, B.Sc. Mining Engineering, to Manager of New Operations.
    Mr. Drips brings to Yukon-Nevada over 32 years experience in building and
operating gold and silver mines, both underground and open pit, throughout the
Americas and overseas. Most recently, Mr. Drips was Vice President, Mexico
Operations for Endeavour Silver.
    Mr. Drips has previously held several senior management positions in
mining, including Director General of Plata Panamericana, the Mexican
subsidiary of Pan American Silver Corp., where he was responsible for turning
around the operating performance of their La Colorada silver mine in Mexico;
Director General of Scorpio Mining in Cosala, Mexico where he led the
pre-feasibility study and initial development program at the Nuestra Senora
project; Vice President and Manager of Operations for American Mine Services
in Boulder, Colorado where he managed several mine service divisions; General
Manager for Bema Gold Corp. in Magadan, Russia overseeing the construction of
the Julietta gold mine; General Manager for Hecla Mining Co. in Venezuela,
managing the turn-around of the La Camorra mine into a profitable operating
unit; and Founder and President of Intermountain Mine Services and Mineral
Resources Engineering, which he built into a $7.5 million per year business.
    Mr. Drips will initially focus his efforts on Yukon-Nevada's Jerritt
Canyon property near Elko Nevada. In addition to overseeing the expansion of
Yukon-Nevada's core operating asset, Jerritt Canyon, Mr. Drips will ensure
that the cost savings recently achieved become entrenched at this facility.
Mr. Drips will also be a key member of the senior management team as the
Company continues to grow through its application of its strategic plan which
calls for the acquisition of late stage development and operating properties.
    Like Yukon-Nevada, Mr. Drips has invested much of his career focusing on
worker safety and environmental sustainability. Mr. Drips states,
"Productivity and profitability are nothing more than the products of sound,
safe work habits. I have found that mine teams and company personnel like
nothing more than to take pride of ownership in their work."
    Graham Dickson, President and CEO, commented, "I would like to extend a
warm Yukon-Nevada welcome to Dave Drips as the newest member of our senior
management group. Dave's successful track record and extensive industry
experience speak for themselves. His skill sets will be a great asset in
facilitating Yukon-Nevada's growth and profitability as we move forward."
    On a separate note, the senior management group recently added to its
ranks with the promotion of Sam Ash to the position of Manager New Operations
where he reports directly to the President and CEO, Graham Dickson. Mr. Ash's
new and additional responsibilities include the development of the Ketza River
project and of Starvation Canyon, with the objective of bringing them both
into production in a timely manner.
    Mr. Ash graduated from the University of Missouri Rolla in 2001 with a BS
in Mining Engineering. Mr. Ash started his career as a supervisor and engineer
in for Drummond Coal in Alabama. In 2003 Mr. Ash joined the Jerritt Canyon
property as a planning engineer. Since 2003 he has successfully filled
numerous positions in the engineering and operations group including, for the
last year, that of Mine Superintendent where he played a major role in the
cost and production improvements that have been achieved in the last year of
operation at Jerritt Canyon. Mr. Ash will bring his unique mix of operations,
management and engineering expertise to his new position.
    Graham Dickson, President and CEO, commented, "We certainly appreciated
the manner in which Sam stepped up to the plate and contributed to the
turnaround at Jerritt Canyon. His adoption of a wider role will be important
to the Company's success as we move forward in the coming years."

    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 and by further acquisitions.

    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,
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,

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