Yukon-Nevada Gold Corp. moves to secure financing for mine expansion

VANCOUVER, July 31 /PRNewswire-FirstCall/ - Yukon-Nevada Gold Corp. (Toronto
Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) is pleased to announce
that it has engaged the Commodities and Resource Finance Division of Investec
Bank (UK) Limited ("Investec") to arrange project finance and hedging
facilities for the expansion of the Company's Jerritt Canyon Mine in Nevada.
The facilities are comprised of a term loan of US$40 million and a partial
gold hedging program for the term of the loan.
Investec's underwriting commitment is subject to a number of conditions
precedent, including completion of due diligence and documentation and
Investec's final internal approvals.
Investec has the exclusive right to arrange and underwrite the facilities
until September 30, 2008, but the parties will use their best efforts to
complete the arrangements by August 31, 2008.

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.

If you would like to receive press releases via email please contact
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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.

SOURCE Yukon-Nevada Gold Corp.

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, www.chfir.com