Toronto, Canada, November 28, 2007, Yukon Gold Corporation, Inc. (“Yukon Gold”), (TSX: YK, OTCBB: YGDC, Frankfurt: W8Y) is pleased to announce the results of its trenching program at its Mt. Hinton Property, located in the Tombstone Gold Belt of the Yukon Territory. Mt. Hinton, is 8km from Keno Hill where from 1919 to 1989 of near continuous production, produced 214,035,399 Ounces silver, 711,428,720 lbs Pb and 436,826,711 lbs Zn, produced from 5,343,088 tons @ 40.1 oz /ton Ag, 6.7 % Pb and 4.1% Zn.
Five trenches were excavated with heavy equipment to a maximum depth of 5m, for a combined length of 1.39km. Four of the trenches were located in the floor of McNeil Gulch and sited to be along strike from known veins exposed on the north face of Mt Hinton and a newly discovered vein on the ridge opposite Mt Hinton. The trenches are approximately a kilometre from any previously known veins and vary between 50m and 500m apart.
Trench #3 exposed two sheared / crushed quartz veins with significant silver mineralization. One vein with minor galena, grades a weighted average of 1.36g/t gold, 183g/t silver and 2.1% Pb over 6m of chip sampling. A grab sample from this vein with galena stringers returned values of 1.17g/t Au and 2,370g/t Ag. The second vein grades 0.41g/t gold,110g/t silver and 0.9% Pb over a metre. The attitudes of the veins dip between vertical and 60°.
Trench #4 exposed a highly mineralized vein that has a weighted average grade of 1.27g/t Au, 116g/t Ag and 1.7% Pb over 3.1m of chip sampling. Grab samples of the coarse grained galena, arsenopyrite and tetrahedrite contain 2.25, 2.67, 3.92g/t Au and 6,900 3,900 11,397g/t Ag respectively.
These trenches, in an area that was never previously tested, are very encouraging and indicate that the mineralized system at Mt Hinton has a considerably longer strike extent than previously thought. Veins have now been found over a two kilometre strike length. With these new discoveries, the Company will design its program for next year to focus in the valley, an area which will be much more straight forward to explore over a longer season. This compared with previous exploration efforts which have been concentrated on the southwest extent of vein system on the steep north cirque of Mt Hinton. A small drilling program completed this year in this area provided inconclusive results due to poor core recovery and holes that had to be abandoned short of their target due to drilling difficulties.
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
Company Website: www.yukongoldcorp.com
AGORACOM Investor Relations
http://www.agoracom.com/ir/yukongold
YK@agoracom.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.
