Yukon-Nevada Gold Corp. closes final tranche of private placement

    VANCOUVER, Aug. 31 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) Robert Baldock, the President of
Yukon-Nevada Gold Corp. (the "Company"), announces that the Company has closed
its $4,105,000 non-brokered private placement for at total of 41,050,000 units
(the "Units") at a price of $0.10 per Unit. As reported in a previous news
release dated August 10, 2009, the first tranche closed on August 7, 2009
representing new Capital of $1,882,972 for which the Company issued 18,829,720
    Each Unit will consist of one common share (a "Share") and one share
purchase warrant (the "Warrant"). The Warrant can be exercised to purchase one
additional common share (a "Warrant Share") at a price of $0.125 per share
within 30 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
securities expiring on December 29, 2009.
    The proceeds of the private placement transaction will be used for the
resumption of milling at the Company's Jerritt Canyon Mine, Nevada and for
working capital.

    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, Jeanny So, Director of
Operations, Tel: (416) 868-1079 ext. 225, Email: jacqueline@chfir.com,

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