Yukon-Nevada Gold Corp. intersects 3.8 m of 20.6 g/t gold at the Ketza River project

    VANCOUVER, July 7 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) is pleased to provide continuing
favorable results from its on-going 2008 drilling program at Ketza River. The
Ketza River property is wholly-owned by Yukon-Nevada Gold Corp., and is a past
gold producer located near the town of Ross River in the Yukon Territory,
    All drill holes referenced in this release are diamond drill holes from
two drill rigs completed between April 22nd and May 12th, 2008, and for which
assay reports were received in June. All holes were targeted to expand the
margins of known mineralization as part of the company's continuing program to
expand areas amenable to open-pit mining.
    Significant intercepts were received from the Peel and Penguin Targets
within the Manto Zone, and the QB target in the Shamrock Zone. Highlights
include 3.8m of 20.6 g/t gold at a depth of just 20 meters in the Peel Target,
and 3.6m of 21.2 g/t gold at a depth of just 40 meters in the QB Target. The
drill intercepts reported herein were not included in the data used for the
NI 43-101 resource estimates released on April 14, 2008, which contain a
measured and indicated resource of 646,600 ounces of gold at a grade of
4.93 g/t and an inferred resource of 112,800 ounces of gold grading 3.26 g/t
and could potentially lead to an increase in the resource of the Ketza River

                      Summary of Significant Intercepts

    Hole Number    Zone      From (m)   To (m)   Thickness (m)  Grade g/t Au
    KR-08-1347    Penguin      48.7      52.7         4.0           6.6
    KR-08-1365    Peel         19.7      23.5         3.8          20.6
    KR-08-1365    Peel         26.9      28.7         1.8          14.0
    KR-08-1365    Peel         47        50.1         3.1          10.1
    KR-08-1367    QB           39.5      43.1         3.6          21.2

    Thicknesses have been reported as drilled -- there is not yet sufficient
information to determine true thicknesses. All assays for the drill program
were conducted by ALS Chemex of North Vancouver, B.C.
    Yukon-Nevada Gold Corp. also announces the resignation Dorian L. (Dusty)
Nicol, Vice President of Exploration, on July 2nd, 2008, who has accepted the
position as President and CEO of a uranium exploration and development
company. The Company acknowledges Mr. Nicol's past contributions and wishes
him success in his future endeavors.

    This news release was reviewed and approved by the Chief Geologist at
Ketza River, Erika Shepard, M.Sc., P.Geo., who is the Qualified Person for the
purposes of this release.

    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,
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,

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