Yukon-Nevada Gold Corp. closes private placement

VANCOUVER , Dec. 4 /CNW/ - Yukon-Nevada Gold Corp. ( Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) Robert F. Baldock, the President of Yukon-Nevada Gold Corp. (the "Company"), announces that the Company has closed its non-brokered private placement for a total of 10,000,000 units (the "Units") to net the treasury an aggregate of $1,000,000 .

Each Unit consists of one common share (a "Share") and one Share purchase warrant. Each warrant (the "Warrant") can be exercised to purchase one additional Share (the "Warrant Share") at a price of $0.125 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 expiring on April 2, 2010 .

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.

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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.

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For further information: Yukon-Nevada Gold Corp., Nicole Sanches, Investor Relations Manager, Tel: [phone] ext 224, Email: [email protected], www.yukon-nevadagold.com; CHF Investor Relations, Jeanny So, Director of Operations, Tel: [phone] ext. 225, Email: [email protected], www.chfir.com