TORONTO, ONTARIO-July 24, 2007NOT TO BE DISTRIBUTED OR DISSEMINATED IN THE U.S.Yukon Gold Corporation, Inc. (“Yukon Gold”), (TSX:YK)(OTCBB:YGDC) announced today that it has revised the terms of its private placement announced on June 20, 2007. The new offering (the “Offering”) has been increased to a $2.8 million private placement offered on a firm underwriting basis and underwritten by Northern Securities Inc. (“Northern”).
The Offering will be comprised of a private placement consisting of units ("Units") and flow-through units (“Flow-Through Units”). The Units will be priced at $0.45 per Unit with each Unit consisting of one nonflow through common share ("Common Share";) and one half of one Common Share purchase warrant (each whole warrant being referred to herein as a "Warrant"). Each whole Warrant will be exercisable into one Common Share for a period of 24 months from closing at an exercise price of $0.60 per share. Each Flow-Through Unit will be priced at $0.52 per Flow-Through Unit and consist of one flow-through common share and one half of one Common Share purchase warrant (each whole warrant being referred toherein as a "Flow-Through Warrant"). Each whole Flow-Through Warrant will be exercisable into one Common Share for a period of 24 months from closing at an exercise price of $0.70 per share.
Yukon Gold will pay Northern a commission equal to 8% of the aggregate gross proceeds of the Offering and issue 8% broker warrants based on the aggregate number of Units and Flow-Through Units purchased through the Offering. Each Unit broker warrant will be exercisable into one Unit at the Unit issue price at any time prior to the date that is 24 months from the closing of the Offering. Each Flow-Through Unit broker warrant will be exercisable into one Common Share and one half of one Flow-Through Warrant at the Flow-Through Unit issue price at any time prior to the date that is 24 months from the closing of the Offering.
The proceeds of the Offering will be used for the exploration, and development of Yukon Gold's two Yukon Territory based properties and for working capital.
Closing is expected to occur in early August 2007. The private placement is subject to acceptance for filing with the Toronto Stock Exchange and all other necessary shareholder and regulatory approvals.The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
About Yukon Gold
Yukon Gold Corporation, Inc. is an active and progressive public exploration and development company. The Company's main focus is its recently acquired VMS deposit (Marg Property), which has a 43-101 compliant resource of approximately 560 million lbs of Zinc and 940 million lbs of Zinc equivalent, and its Mount Hinton gold and silver exploration project, both located in the Central Yukon Territory of Canada. These properties lie within the Tombstone Gold Belt, world renowned for the discovery of major gold and base metal deposits. Currently, there are approximately 22.8 million of the Company's common shares outstanding.
FORWARD-LOOKING STATEMENTS:
This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended.Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, orstatements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to avariety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved ininterpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forwardlooking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Yukon Gold Corporation, Inc.Paul GormanCEO(416) 865-9869 or Toll Free: 800-295-0671Email: pgorman@yukongoldcorp.comWebsite: www.yukongoldcorp.com
