Significant Assay Results At South Hill Target

VANCOUVER - Yukon-Nevada Gold Corp. reported significant drill hole assay results from the 2011 Ketza River diamond drilling program. The Company's 100% owned Ketza River Project is a past gold producer and is located 80km south of Ross River in the Yukon Territory, Canada .

South Hill Highlights were: KR-11-1571 intersected 0.42 meters assaying 9.39 g/t gold; KR-11-1577 intersected 2.16 meters assaying 4.41 g/t gold; KR-11-1579 intersected 2.31 meters assaying 2.05 g/t gold.

The 2011 exploration program consisted of 26 diamond drill holes totaling 4,402 meters targeting the four following areas: South Hill target (11 drill holes), the NW Target (4 drill holes), the Hoodoo Zone (2 drill holes), and the Penguin Zone (9 drill holes). Only two of the areas at South Hill and the Penguin Zone were properly tested; the other two areas at the NW target and the Hoodoo Zone encountered difficult drilling conditions and will require additional work in the future to fully test. The drilling program has been successful in intersecting gold mineralization from both manto-type replacement sulfide/oxide deposits and quartz-sulfide fissure vein and stockwork and/or breccia systems. Both gold deposit types contain mineralization that is dominated by pyrrhotite, pyrite, arsenopyrite, and trace chalcopyrite.

The South Hill target is located approximately 1.0 to 1.8 km southwest of the existing camp and 0.6 to 1.4 km southwest of the existing Tarn resource. Drilling at the South Hill Target tested several gold-in-soil anomalies, areas containing sulfide-rich outcrop exposures, and magnetic high anomalies. Diamond drilling in 2011 on the South Hill Target identified two styles of mineralization including a sulphide bearing breccia + vein stockwork zone up to 15m in thickness and replacement zones up to 2.3m in thickness.  Mineralization is hosted in massive to silty carbonate rocks and fine grained clastic sedimentary rocks.

The 2011 drilling program at the Penguin Zone included 6 drill holes that intersected massive sulfide replacements ranging from 2.5m to 10.5 m in thickness. Two of these intersections will extend the existing resource while the others are thought to represent a separate mineralized body.