Toronto, Canada, October 4, 2007, Yukon Gold Corporation, Inc. (“Yukon Gold”), (TSX: YK, OTCBB: YGDC, Frankfurt: W8Y) announced today that the Company has completed two airborne Versatile Time-Domain Electromagnetic (VTEM) geophysical surveys using the services of Geotech Ltd. of Aurora, Ontario. The VTEM survey is the leading airborne geophysical system in use today and was flown over the Company's
Mt. Hinton gold and silver property and the nearby Gram Property located in the Tombstone Gold Belt of the Yukon Territory. The VTEM technology has documented capabilities to detect highly conductive rock bodies to depths of up to 800 meters (2500 feet).
These are the first airborne geophysical survey flown over the properties in the search for electromagnetic and magnetic anomalies. The Mt. Hinton claims are underlain by the Keno Hill Quartzites and related schists with known silver/gold vein mineralization associated with massive galena and tetrahedrite. The Mt. Hinton survey covered 97.0 km2 and 965 line kilometres were flown at a nominal 100 metre flight line spacing. The survey was also flown without any gaps over Mt. Hinton itself. The Gram Property is underlain by the Devonian to Mississippian, Earn Group meta-volcanic and meta-sedimentary rocks which are highly prospective for ‘Massive Sulphide’ mineralization. The Gram survey covered 28.5km2 and 327 line kilometres were flown at a nominal 100 metre flight line spacing. Results from the VTEM program will be published as they are made available and reviewed by Yukon Gold’s management team.
Yukon Gold also announces the completion of their exploration programs at Mt. Hinton, the Gram Property and at the Marg Deposit. This year’s exploration at Mt. Hinton concentrated on trenching to expose veins along strike and some diamond drilling of high grade veins on the north face of Mt. Hinton. Samples have been submitted for assay and the results will be released as soon as they are available. The work on the Gram claims this past season was primarily the VTEM survey, combined with limited prospecting and some soil geochemical traverses. Exploration at the Marg deposit this past season was entirely diamond drilling. A total of 3,300 metres were drilled in the season and samples from the sulphide bearing intervals have been submitted to ALS Chemex in Vancouver, British Columbia for analysis. Assay results will be released as soon as they are received and verified.
The Qualified Person who prepared this press release is Stew Fumerton, Ph.D., P. Geo. VP Exploration for Yukon Gold.
About Yukon Gold
Yukon Gold Corporation, Inc. is an active and progressive public exploration and development company. The Company’s main focus is its Zinc-Copper-Silver deposit (Marg Property) and its Mount Hinton Gold and Silver exploration project in the Central Yukon Territory of Canada. These properties lie within the Tombstone Gold Belt, world renowned for the discovery of major gold, silver and base metal deposits. Currently, there are approximately 25.3 million of the Company’s common shares outstanding.
For More Information:
Yukon Gold Corporation, Inc.
Paul Gorman, CEO
(416) 865-9869
E: pgorman@yukongoldcorp.com
Bruce Hodgman, Investor Relations
(905) 582-9744
Toll Free (800) 295-0671
bhodgman@yukongoldcorp.com
AGORACOM Investor Relations
http://www.agoracom.com/ir/yukongold
yk@agoracom.com
Company Website: www.yukongoldcorp.com
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, or statements 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 a variety 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 in interpreting 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 forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Cautionary Note to US Investors – The United States Securities and Exchange Commission (SEC) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms, such as “reserves,” “resources,” “geological resources,” “proven,” “probable,” “measured,” “indicated,” or “inferred,” which may not be consistent with the reserve definitions established by the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-KSB, File No. 000-51068. You can review and obtain copies of these filings from the SEC’s website at http://www.sec.gov/edgar.shtml.
