Yukon-Nevada Gold Corp. Announces Increase to Private Placement

VANCOUVER, Dec. 10, 2008 (Canada NewsWire via COMTEX) ----Yukon-Nevada Gold Corp. (Toronto Stock Exchange ("TSX"): YNG; Frankfurt Xetra Exchange: NG6) Graham Dickson, the President of Yukon-Nevada Gold Corp. (the "Company"), announces that further to the Company's news release of December 4, 2008 announcing the increase to the Company's previously announced non-brokered private placement, the number of Units to be offered has been increased from 79,300,000 Units to 79,800,000 Units at $0.05 per Unit in the capital stock of the Company, thereby increasing the amount raised from $3,965,000 to $3,990,000. The maximum number of Shares to be issued pursuant to the private placement, including the underlying Warrants and the finder's fee (described below), is 261,600,000 Shares; being 141.06% of the Company's current issued and outstanding Shares, or 58.52% of the Company's then issued share capital.

All other terms of the private placement will remain the same.

Yukon-Nevada Gold Corp. is a North American gold company in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Arizona and Nevada in the United States. The Company's focus has been on the acquisition and development of late stage development and operating properties with gold as the primary target. Continued growth will occur by increasing or initiating production from the Company's existing properties.

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.

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, Account Manager, Tel: (416) 868-1079 ext. 289, Email: jacqueline@chfir.com, www.chfir.com

Copyright (C) 2008 CNW Group. All rights reserved

Yukon-Nevada Gold Corp. Reports Third-quarter Results

VANCOUVER, Nov 14, 2008 /PRNewswire-FirstCall via COMTEX/ -- Yukon-Nevada Gold Corp. (CA:YNG) has released results for the three and nine months ended September 30, 2008. All amounts in this news release are in United States dollars, unless otherwise stated.

For the three and nine months ended September 30, 2008, the Company reported a net loss of $77.2 million and $91.8 million, respectively, primarily arising from a non-cash impairment charge of $69.4 million taken on mineral properties and $4.5 million of restructuring costs incurred in the third quarter due to the closure of the mine site at Jerritt Canyon and the subsequent workforce reduction. These actions were taken due to the ongoing negative cash flow of the underground mining operations resulting from an unprofitable mine plan.

The Company was also forced to suspend mill operations in August to perform repair work and has been working closely with the Nevada Division of Environmental Protection to recommence milling operations. When the Company returns to full operations management will pursue additional toll milling contracts to increase the cash flows at Jerritt Canyon. The Company has contracted a third party to run the operations at the mill and has been working closely with them to ensure quick startup once approval is received.

While the Company intends to recommence mining once a profitable mine plan has been developed and sufficient financing becomes available, it was determined that as enough uncertainty exists regarding the Company's ability to do so the Company has taken a $69.4 million charge in the third quarter for the impairment of the Jerritt Canyon mineral properties.

In the third quarter at Ketza River in the Yukon, the Company continued its focus on completing the geotechnical work required for mine planning, metallurgical test work and on completing its highly successful exploration program. The expansion of deposits within the projected open pits will add value to the Pre-feasibility Study. The project is continuing to focus efforts on the completion of that study.

Details of the Company's financial results are described in the unaudited consolidated financial statements, and management's discussion and analysis, which will be available on the Company's website, www.yukon-nevadagold.com and on SEDAR, www.sedar.com.

We seek Safe Harbor.

Yukon-Nevada Gold Corp. is a North American gold company in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Arizona and Nevada in the United States. The Company's focus has been on the acquisition and development of late stage development and operating properties with gold as the primary target. Continued growth will occur by increasing or initiating production from the Company's existing properties.

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.
Copyright (C) 2008 PR Newswire. All rights reserved