Yukon-Nevada Gold Corp. reports a record profit of $3.37 million in its fourth quarter

Yukon-Nevada Gold Corp. reports a record profit of $3.37 million in its fourth
quarter

VANCOUVER, April 1 /PRNewswire-FirstCall/ - Yukon-Nevada Gold Corp.
(Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) (the "Company")
announced results for its fourth quarter of 2007 and its year end results.
Financial results only reflect the activities of Queenstake Resources Ltd.
since its acquisition in June 2007. All amounts in this news release are in US
dollars, unless otherwise stated.
The Company reported:

- A gross margin from mining operations of $9.69 million for the fourth
quarter.
- A gross margin from mining operations of $16.24 million for the year.
- Income from mine operations of $7.30 million for the fourth quarter
after adjustments for depreciation, depletion and accretion.
- Income from mine operations of $9.43 million for the year after
adjustments for depreciation, depletion and accretion.
- Earnings before taxes for the fourth quarter of 2007 were $3,373,000.
- A Loss before taxes for the year of $930,000.

The Company's 2007 annual gold production rate from Jerritt Canyon met the
forecasted rate of 120,000 ounces per annum with 59,100 ounces of gold
produced from Jerritt Canyon ore in the six months of operation. Gold
production is expected to be around 120,000 ounces in 2008 and increase in
2009 and as new projects come on stream. The Company also produced 38,098
ounces of gold from purchased ores for a total of 97,198 ounces of gold.
The gold ounces produced from Jerritt Canyon ore were sold at a weighted
average price of $739 per ounce and produced at a cash cost of $416 per ounce.
Yukon-Nevada Gold's President and Chief Executive Officer, Graham C.
Dickson, commented, "We are pleased to see that the fourth quarter continued
with an improved performance over the third quarter. The recently scheduled
mill shutdown was to make sure that this kind of performance can continue
without sacrificing anything in terms of safety or the environment. We expect
to be back in production this week and to be operating within the requirements
of NDEP order # 2008-13. We will continue throughout this and every year to
work diligently to improve both our safety and environmental performance with
a resultant overall improvement in operations."
Mr. Dickson further stated, "The exploration team matched the performance
of the operations group in 2007 by greatly enhancing the Company's reserves at
Jerritt Canyon and by the preliminary delineation of several open pits at the
Ketza River property." (as previously reported on March 3rd 2008 and March 5th
2008.)
The Company engages in the forward sales of gold produced from ore
purchased from third parties. This practice ensures that the Company achieves
an acceptable profit margin on this activity. The Company is not hedged on any
gold produced from its own Jerritt Canyon ore.
The Company's excess cash is invested in short-term investments, all with
a maturity date of less than 90 days from the date of purchase (these
investments are classified as "cash" on the balance sheet). All investments
are in "Bearer Deposit Notes" or Bankers Acceptances issued by major Canadian
chartered banks. The Company does not have asset-backed securities in its
investment portfolio.
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
line.
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, Associate Account Manager, Tel: (416) 868-1079
ext. 289, Email: jacqueline@chfir.com, www.chfir.com