Yukon-Nevada Gold Corp. intersects 6.4 meters of 40.1 g/t gold at Jerritt Canyon, Nevada

    VANCOUVER, July 14 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock
Exchange: YNG; Frankfurt Xetra Exchange: NG6) has received very exciting
results from underground drilling in the SSX - Steer Mine complex at Jerritt
    Underground drilling with two diamond drills (core) and a reverse
circulation drill (RC) have continued to define additional resources in the
SSX - Steer Complex. Since the last report (news release dated April 28, 2008)
55 resource conversion holes (including both RC and Core) have been completed
totaling 19,004 feet (5,792 meters).
    During this period the majority of the drilling has been on the Steer
side of the mine complex. Several inferred resource areas were targeted with a
diamond drill to more fully understand their nature and to establish mineral
continuity. In most cases the mineralization is associated with low angled
structures and has a tabular appearance within the lower portion of unit 3 of
the Hanson Creek Formation. The more significant intercepts from this program
include: SR-174 with 17.5 feet (5.3 meters) of 0.321 ounces of gold per ton
(opt) or 11.01 grams of gold per tonne (gpt), SR-190 with 21 feet (6.4 meters)
of 1.169 opt (40.08 gpt), SR-183 with 17.5 feet (5.3 meters) of 0.604 opt
(20.71 gpt), and SR-184 with 18 feet (5.5 meters) of 0.651 opt (22.32 gpt).
These intercepts are either within inferred resource shape as of December 2007
or completely outside of previously defined mineralization. These highlights
are shown in the table below and their locations on the accompanying map which
can be found at
<a href="http://www.yukon-nevadagold.com/i/maps/20080714_SSX_June-30.jpg">http://www.yukon-nevadagold.com/i/maps/20080714_SSX_June-30.jpg</a>.

                      Summary of Significant Intercepts

      Hole    From   From     To     To  Interval Interval      Au        Au
        ID     (ft)    (m)   (ft)    (m)      (ft)      (m)   (opt) (g/tonne)
    SR-174   300.5   91.6    318   96.9      17.5      5.3   0.321     11.01
    SR-183     620    189  637.5  194.3      17.5      5.3   0.604     20.71
    SR-184     674  205.4    692  210.9        18      5.5   0.651     22.32
    SR-190     195   59.4    216   65.8        21      6.4   1.169     40.08
    Z71347     205   62.5    230   70.1        25      7.6   0.261      8.95
    Z71348     230   70.1    275   83.8        45     13.7   0.281      9.63

    The Company's President and CEO, Graham C. Dickson, commented, "These
drill results indicate that the SSX - Steer Mine Complex will continue to
produce on a long term basis and add to the Company's overall profitability."
    Assays from exploration holes reported in this news release were by the
Company's assay laboratory at the Jerritt Canyon Mine, using standard fire
assay techniques. The Company's Quality Assurance and Quality Control
protocols are available in the Company's NI 43-101 Technical Report dated May
1st, 2007 and available on www.sedar.com. Intercepts are reported as drilled.
A comprehensive table of drill results will be available on
    True widths have not yet been calculated; given the geometry of
mineralization at Jerritt Canyon, the concept of true width is not always
meaningful before delineation drilling has been completed. This News Release
was reviewed and approved by the Company's Manager, Mine Geology, Donald
Colli, B.Sc., P.Geo., the Qualified Person for 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 development of its late
stage development and operating properties. Near term growth will occur by
increasing or initiating production from the Company's existing properties.

    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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