Goldcorp (NYSE:GG) in the Years Ahead

Goldcorp's Return to Shareholders

Goldcorp (NYSE:GG) should be a strong performer for many years into the future, and the ongoing returns of over 20 percent for the last 15 years should continue on in the current economic climate.

With gold production costs of around $350 an ounce, and gold almost guaranteed to be over $1,000 an ounce for a long time into the future, Goldcorp should continue to make shareholders in the company happy for years ahead.

Goldcorp's Return to Shareholders

Gold Prices Will Continue Rising

Gold Prices

News on the street has been a number of investors are allegedly believing gold is experiencing a bubble, and so it may be time to get out and take some profits. I don't believe that's true.

The reason I said allegedly above is because of the possibility that speculators who did in fact believe gold prices would fall shorted the market, and so now that they've been getting clobbered over the last couple of months, could be attempting to communicate the gold bubble idea in order to create a self-fulfilling prophecy which they could financially benefit from.

A gold bubble isn't what is moving the price of gold up, but the incredibly ignorant moves of the Obama administration is what's moving the prices, as the inevitalbe inflation coming from the spending of trillions still is generating investment in gold, and that isn't going to end any time soon.

When a bubble happens in any investment sector, it's when the general public finally catches wind of what's going on and stampedes like a herd of cattle toward that investment when prices start to surge based on speculation and ignorance, and not market and economic forces. That's not what's driving gold prices up, and until it is, we're going to continue to see gold prices rise for a long time to come.

Gold Prices

Peter Schiff: Gold Could Rise to $5,000 and More

As measured against gold, Peter Schiff said in a recent interview that gold and the Dow could end up trading at a ratio of one-to-one, as against the existing level of 9.7-to-1. Consequently, gold could very easily rise to $5,000 or more according to Schiff, over the next several years.

What that means is the Dow will plunge another 90 percent from where it stands now as measured against gold.

Even though gold has risen significantly, it's still being held back by concerns that will eventually fall away when it starts climbing from between $2,000 and $3,000 an ounce.

Schiff said it could take on similar growth as tech stocks did in 1999, possibly moving up in $100 increments a day at many points.

Much of Schiff's view on gold is based on the misguided policies of the Obama administration, along with the Federal Reserve, which refused to cut back on printing money and bailing out banks and companies they consider "too big to fail."

Gold Prices | 12-Day Low

Gold Prices

Gold prices plunged to a 12-day low, after a 2 percent drop in oil prices and 1 percent decline in U.S. equity indexes, as investors took profits when a weak U.S. confidence reading implied consumer demand would languish for some time to come, and that will definitely be true.

Other precious metals, which rose to multi-week highs in early trading, changing direction to also suffer steep losses when investors decided to sell a bunch of commodities it the midst declining confidence.

Spot gold dropped to a low of $934.70 an ounce, its lowest since July 17, to change hands in late New York trade a bit higher at $936.95 an ounce, down from $953.25 an ounce in late Monday business.

New York August gold futures tumbled $14.40, or 1.51 percent, to $939.10 an ounce on the COMEX division of the New York Mercantile Exchange.

August gold's average plummeted to a low at $933.80 - last experienced on July 17 - from a day's high at $956.80.

Along with lower oil and share prices, gold added to losses when the U.S. dollar increased from its lowest level of the year against a currency basket. The dollar rebounded as sinking confidence rekindled worries about the U.S. economic recovery and increased demand for safe-haven assets.

Gold, like other dollar-priced commodities, becomes less expensive for holders of other currencies as the U.S. unit weakens.

"We ran into profit taking. We had a technical failure at the $956 level. A little bit of dollar strength, a little bit of stock market weakness, a little bit of crude weakness cascaded into the tight trailing stops," said Frank McGhee, head precious metals trader at Integrated Brokerage Services LLC in Chicago.

McGhee said there were a number of factors driving the price down, including a series of automatic sell orders bunched up between $942 to $958 an ounce that lead to accelerated selling in the New York afternoon session.

Crude prices fell 2 percent, causing interest in gold to decline as a hedge against oil-led inflation.

Gold Prices

Gold News | Kinbaruri Gold Investment Deal with Glen Eagle Cancelled

Gold News

The proposed investment deal between Kinbauri Gold Corp and Gold Eagle Resources has been halted, as Kinbauri Gold said they didn't feel comfortable with the funding arrangements by Glen Eagle, and believed there wasn't enough funding available to make the deal happen.

Glen Eagle had in April offered to invest C$32 million in Kinbauri for a 45 percent stake in Kinbauri Espana unit -- which holds interests in the El Valle/Carles gold and copper project in northwestern Spain.

Separately, Glen Eagle said it believes that Kinbauri's termination is a breach of their deal and is considering its options.

Kinbauri, which is also the target of a takeover bid from Toronto-based Orvana Minerals Corp (ORV.TO), said it has decided to allow the matter to be determined in a court at the same time as the application brought by its shareholder Jaguar Financial Corp, scheduled to be heard on June 17.

Last month, Jaguar Financial, which owns 9 percent of Kinbauri, had approached the court, after Kinbauri rejected Orvana's offer of 55 Canadian cents a share as its deal with Glen Eagle was on the verge of completion.

In a statement on Friday, Kinbauri said a special committee continues to evaluate the takeover bid from Orvana Minerals, consider other alternatives and will make a recommendation to the board in the near future.

Gold News

Gold Investors Seeking Haven and Profits

Now that much of the forced liquidation seems to have left the market, gold is starting to perform like the haven of safety usually has in tough economic times, and gold investors and regular investors are flooding to the market to not only be safe, but make some money from gold and its rising prices. Consequently, the U.S. dollar is starting to act like it really is with its poor underlying fundamentals, which had been hidden by the forced liquidation period pushing up its value as funds and companies sought to raise desperately needed capital.

Gold investors should be able to put their money into any well run gold producer this year and do well, along with investing in gold futures, which will continue to run up. Other gold investments set to do well will be gold ETFs, which with the larger companies are saying they're having no problem acquiring the needed gold to line up with investors' demand.

On the other hand, some gold coin sellers have said with some coins they're having trouble meeting specific demand, saying they have waiting lists into the weeks. Either way, gold in general will continue to perform strongly in safety and price, and gold investments won't disappoint this year in any way.

Even though gold was one of the better performers last year, the temporary resurgence of the U.S. dollar kept it from moving upwards when it should have been. That performance is about to rise again for gold, consistent with its usual consistency and price increase.

The huge amount of money pushed in the stimulus packages are starting to concern investors - as it should - and they see the U.S. dollar will start to gradually collapse under the mighty force of the fiat money printing press, which is the only way it will be able to be paid off. But that will lead to inflationary pressures, which will again push traders and investors toward gold.

What remains to be determined is how long it will take, not whether the time arrives. But either way, gold is going to break out again this year, and most analysts are forming a consensus that gold will push past the $1,000 barrier before 2009 is finished. And I think they're right.

Inflation is being held in check from the fact that people have stopped buying things or traveling much, holding down energy prices for now. That will change as the general economic struggles improve some, but then inflation will surge forward, which will benefit gold prices and gold traders and investors as well. Gold futures will continue to rise for some time to come, even if it's a bumpy ride at times.

The current record for gold is at $1,030.80 an ounce, recorded in March 2008, and that has a real possibility of being broken this year, depending of course on the pace the economy falters and havens of safety diminish.

Goldman Sachs (GS) has even increased its forecast for gold prices to reach the $1,000 an ounce range within a short three months, saying the demand for safety is increasing far beyond what it thought it would. Formerly they thought it reach only about $700 an ounce.

Every possible way of buying gold is in demand, from holding it physically, to futures contracts to investing in exchange-traded funds (ETFs). All of it is being brought about from safety and inflation risks in the market.

Physical gold has been in huge demand as the unbelievable and unprecedented and foolish bailouts have committed the government to far more money than it has to spend, and could virtually destroy the value of the U.S. dollar and bring it to be a very weak currency, the reason for the migration toward owning gold coins, which in a number of cases is taking longer and longer to fulfill orders.

Some of the gold producers from North America that have been recently upgraded by UBS because of gold as a haven of safety are UBS upgraded Agnico Eagle Mines (AEMO) (AEM), Barrick
Gold (ABX) (ABX.TO), Eldorado Gold Corp (ELD.TO), Newmont Mining (NEM) and Goldcorp Inc (GG) (G.TO) to "buy" from "neutral."

For Centerra Gold (CG.TO) and Franco-Nevada (FNV.TO) UBS retained its buy rating and target prices for the gold companies.

Moving quickly to take advantage of the volatile market, the largest gold-backed exchange-traded fund, the SPDR Gold Trust said its current gold inventory is at its highest levels, now standing at 859.49 tons. A huge increase in just a couple of days from 6.12 tons of gold it held on February 2.

One interesting factor in the overall gold picture is whether Barack Obama will get his almost $900 billion economic stimulus package passed. If he does, gold should skyrocket, if he doesn't, it should climb based on fundamentals alone, but it may not rise nearly as projected with the stimulus plan factored into the prices. The gold bulls would be slower to move it up, although there aren't many safe places to put their money regardless. The stimulus package would just make it happen much quicker, as a sense of urgency would settle in.

There's no doubt that gold futures and most other companies and ETFs related to gold will rise with it in 2009. With few havens of safety left, gold, and its cousin silver should flourish during these tough economic times, and gold investors will flourish with them.

Gold and Gold Mining Companies: Prices to Soar?

The term rally and bullish should continue for gold and gold futures over the next year or so, as it shouldn't have any problem breaking above the $900 an ounce barrier and soaring from there. Gold and silver mining producers or companies will also do great this year, not only from demand, but operations will cost much less as energy costs, which are a key cost for gold mining companies, will remain down this year, while gold prices continue to rise. That should produce a banner year for gold mining companies.

Much of what has held gold prices down during these tough economic times has been the forced liquidation and deleveraging major funds had to do in order to raise cash to cover their debt and expenses. That forced them to sell their positions in gold and other commodities in order to do that. That's the reason commodities struggled for some time, especially some of the precious metals. It's also the reason the US dollar was inflated far beyond its underlying fundamentals.

Now that it looks like gold is back as the haven of safety it always has been, we'll start to see it grow in a much larger way and respond as it should have been all along. The bulls are out of the pen and we'll see the yellow metal soar in 2009.

Many financial experts are turning into bulls now, as the reason they were so unsure is no one know how long big funds and investment firms would take to unwind their positions and be ready to go back to the commodity markets. It seems we have the answer now, and that answer is a bull market.

This of course means that quality gold companies will enjoy good times going forward, as they lead commodities and other precious metals forward. I don't think the grain markets will participate in the bull market, but most many metals will, including silver, which according to percentages could even outperform gold.

Another reason gold will do well for some time is the terrible ideas of the government to bailout every industry that runs their companies poorly. That will force them to keep printing money into oblivion, and that fiat money has a bad ring to it, as it'll definitely push inflation much higher because there's no one to buy U.S. debt to pay for these extraordinarly expensive initiatives.

That's good news for gold investors, as inflation will be another arrow in the quiver that will keep gold prices rising, and the gold rally extending.

Foreign governments will ease out of the untrustworthy U.S Treasury bonds, and so that will leave the U.S. and Federal Reserve with no option to keep the money printing presses humming, and they will.

That will also bring the value of the U.S. dollar down, and will make gold even more attractive.

Similar to the forced liquidation period of funds and investment firms, it'll be impossible to know how long the bull gold rally will last, but I think it'll be much longer than the forced liquidation period that helped the dollar remain strong, although the fundamentals were so off.

In this case, the trillions being promised and spent by the US government could keep gold as a solid investment for quite some time, as the U.S. dollar continues on its road to collapse.

As far as gold and silver mining companies, we'll see quite a number of them enjoy some of the best years they ever have, assuming they're already well run companies and positioned to take advantage of the haven of safety investors will be looking for in 2009.

Silverado Announces Results of Preliminary Feasibility Study on Workman's Bench Gold

Silverado Announces Results of Preliminary Feasibility Study on Workman's
Bench Gold and Antimony Deposit at Nolan Creek

VANCOUVER, Jan. 5 /PRNewswire-FirstCall/ - Silverado Gold Mines Ltd. (the "Company" or "Silverado") SLGLF OTCBB, SLGL Frankfurt, www.silverado.com, is pleased to announce that the preliminary feasibility study on its Workman's Bench gold and antimony lode gold deposit at its Nolan Creek property in Alaska has been completed. The study was commissioned by the Company in September 2008, and was performed by Thomas K. Bundtzen ("Bundtzen") of Pacific Rim Geological Consulting Inc., an independent mining consultant. The study concluded that the Workman's Bench project is economically viable and also supports a mineral reserve calculation and updated mineral resource estimate on the property.

Workman's Bench is the Company's prime exploration target for a lode gold and antimony deposit in the southwestern part of the Solomon Shear Zone, which is located on the Company's Nolan Creek Property in Alaska.

The results of the study are reported in a NI 43-101 Technical Report entitled "Update of Mineral Resource and Reserve Estimates and Preliminary Feasibility Study, Workman's Bench Antimony-Gold Lode Deposit, Nolan Creek, Wiseman B-1 Quadrangle, Koyukuk Mining District, Northern Alaska", dated January 1, 2009 and prepared by Bundtzen. The Technical Report was filed today on SEDAR and will be available at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml and on the Company's website at http://www.silverado.com/.

Highlights of the Technical Report are as follows:

MINERAL RESOURCES AND RESERVES

An initial updated gold and antimony indicated mineral resource estimate for the Workman's Bench deposit was reported in a news release dated November 17, 2008, as corrected. As a result of further analysis, Bundtzen has concluded that the indicated mineral resource estimate in the Workman's Bench lode deposit as disclosed in the news release dated November 17, 2008 can be classified as probable mineral reserves in accordance with the CIM Definition Standards. There have otherwise been no material changes to the grades and quantities previously reported. The following table summarizes the mineral reserves for the Workman's Bench gold-antimony deposit, effective January 1, 2009.

-------------------------------------------------------------------------
Reserve Cut-off Quantity Grade Metal Grade Metal
Category grade (ton) (% Sb) (ton Sb) (oz/ton Au) (oz Au)
(% Sb)
-------------------------------------------------------------------------
Probable 4.0 42,412 28.00 11,880 0.408 17,300
-------------------------------------------------------------------------

Notes:
- Rounding may result in some discrepancies.
- No processing recovery factors have been applied to these reserve figures.
- The unit ton refers to short tons.
- Cut-off grade is 4.0% Sb 'equivalent', which refers to the combined values of gold plus antimony expressed in terms of antimony alone

The following table summarizes the mineral resources for the Workman's Bench and Pringle Bench gold-antimony deposit, effective January 1, 2009.

-------------------------------------------------------------------------
Reserve Cut-off Quantity Grade Metal Grade Metal Category grade (ton) (% Sb) (ton Sb) (oz/ton Au) (oz Au) (% Sb)
-------------------------------------------------------------------------
Inferred 4.0 27,697 12.26 3,397 0.230 6,372
-------------------------------------------------------------------------

Notes:

- Mineral Resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
- Rounding may result in some discrepancies.
- No processing recovery factors have been applied to these resource figures.
- The unit ton refers to short tons.
- Cut-off grade is 4.0% Sb 'equivalent', which refers to the combined values of gold plus antimony expressed in terms of antimony alone.


Assumptions and Methods

Bundtzen included the following steps during calculation of the indicated resources and probable reserves at Workman's Bench:

- personal inspection of Workman's Bench lode style gold property during 2007 - 2008;
- database compilation and data validation;
- geological interpretation and modeling;
- compositing assay intervals to a common length;
- determination of average material density for lode properties;
- analysis of grade variability;
- polygonal estimation of grade by compositing of sample assay information taken within designated widths and lengths of mineralized zones;
- assignment of appropriate cut off grades, the lowest grade that can be mined economically;
- classification of confidence in the estimates with respect to CIM
(2005) guidelines, and;
- mineral resource and reserve tabulation and validation of the resource estimate and reserve calculation.


Data Verification

During numerous personal inspections of the Nolan Creek properties (2007 to 2008) Bundtzen observed sample collection and sample preparation practices for lode-style deposits.

On June 13 and 14 and September 28 and 29, 2008, Bundtzen visited Nolan Camp and examined all significantly mineralized core intervals acquired from the 2007 and 2008 exploration drilling of the Workman's Bench property. A total of 124 mineralized intervals were examined. The analytical data was compared with each of the mineralized zones to confirm the elevated antimony and gold values in the sampled intervals.

Drill core intervals were checked through re-assay and inspection. Bundtzen is satisfied that the sampling and analysis of drill core was carried out in a sound manner.

Selected field duplicates of sampled intervals, two from underground channels, and one from a trench, were submitted by Bundtzen to an umpire laboratory (Alaska Assay Laboratories LLC) to check analytical results from ALS Chemex. In as much that the samples are collected by different individuals at different times and analyzed by different labs, Bundtzen judges that results from this limited comparison indicate acceptable levels of bias and accuracy for gold and antimony values and confirm the existence of mineralization.

RESULTS OF PRELIMINARY FEASIBILITY STUDY

Bundtzen completed the preliminary feasibility study in order to evaluate the merits of extracting antimony and gold from Workman's Bench using the reserve and resource base summarized above. The conceptual work plan would involve the selective underground extraction of high quality vein mineralization, processing of ore with a nearby surface plant using gravity (and possibly flotation) technologies, recovering most of the gold value on site at Nolan
Creek, and shipping a metallurgical grade stibnite concentrate to overseas buyers, either Asian (China) or European (Rotterdam, Netherlands) markets. The preliminary feasibility study used a wide variety of economic data to produce projected capital and operating costs estimates, environmental and social considerations, mining methods, processing technologies, permitting
issues, taxation issues, and commodity price trends, all of which became components of the Nolan lode development economic model.

Assuming an antimony price of $2.25/lb and a gold price at $700/ounce, and process recovery rates of 85% for antimony and 90% for gold, a seasonally operated 125 tpd concentrating plant could ship stibnite concentrates during a five year period and make a profit of about $27 million over the life of the operation. The mine would pay back capital costs in the third or fourth
quarter of the third year of development. Antimony, which accounts for 77 percent of the value of the product under the mining scenario, would clearly drive the project although gold (23 percent of total value) is a significant byproduct. Gold bars would be produced at the mine site thus creating early cash flow. Maintaining stibnite (ore of antimony) concentrate quality for
overseas markets is very important to the success of the proposed development. Preliminary metallurgical testing of a bulk sample from the Workman's Bench Lode shows high recovery rates of gold and antimony. Other impacting factors include wall rock stability underground permitting issues, and metal price trends of both antimony and gold.

The mine plan contemplates deploying standard cut and fill mining methods that would take place for five months during the winter, followed by a three month period of ore processing. When in full production the mill will process up to 12,500 tons of ore per year which will yield up to 4,590 ounces of gold and 5,000 tons of stibnite concentrate. Stibnite concentrates would be shipped during late summer and early fall of each year.

Cautionary Notes to U.S. Investors

U.S. investors are cautioned that the term "inferred resources" as used herein, is recognized by NI 43-101 under Canadian regulations, but is not recognized by the SEC. US investors are advised that NI 43-101 standards and the SEC's Industry Guide 7 standards are substantially different, and that many of the terms and concepts set out in and required to be disclosed by NI
43-101 as information material to the Company are neither recognized by the SEC nor included in or compliant with Industry Guide 7 standards.

Qualified Person

The mineral resource estimates and mineral reserves contained in this news release were prepared by Thomas K. Bundtzen, P.Geo, BS, MS, CPG-10912, ABSLN # 279639, President of Pacific Rim Geological Consulting, Inc. of Fairbanks, Alaska, who is independent of the Company as defined by NI 43-101. Bundtzen is a Certified Professional Geologist with the American Institute of Professional Geologists. Bundtzen is a "Qualified Person" as defined by NI 43-101 and also qualifies under the rules stated by the U.S. Securities and Exchange Commission ("SEC"), and has verified the data contained in this news release for accuracy.

About the Company

The Company is an exploration stage company focused on the exploration of gold properties, with some past production, and the development of new environmentally friendly low-rank coal water fuel technology. The Company has gold properties located throughout Alaska, which include a 100% interest in numerous mining claims located on the Nolan Creek property. Please visit http://www.silverado.com/.

The Company is developing low-rank coal water fuel that is designed to be produced from low-rank coal and processed into an environmentally friendly oil substitute. Silverado Green Fuel Inc. is a wholly owned subsidiary of its publicly traded parent, Silverado Gold Mines Ltd. For more information about Silverado Green Fuel Inc., please visit http://www.silveradogreenfuel.com//.

Forward-Looking Statements

This news release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this news release that are forward-looking statements are based on the current expectations, beliefs, assumptions,
estimates and forecasts about the Company's business and the industry and markets in which it operates. Such forward-looking statements involve risks and uncertainties regarding the market price of gold, availability of funds, government regulations, common share prices, operating costs, capital costs, outcomes of test mining activities and other factors. Forward-looking
statements are made, without limitation, in relation to operating plans, property exploration activities, including test mining activities, availability of funds, environmental reclamation, operating costs and permit acquisition. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", or "continue", and the negative of such terms or other comparable terminology. Actual events or results may differ
materially. In evaluating these statements, you should consider various factors, including the risks detailed in the Company's filings with the Canadian Securities Authorities and the US SEC. These factors may cause the Company's actual results to differ materially from any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to publicly update these statements, or disclose any difference between its actual results and those reflected in these statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

SOURCE Silverado Gold Mines Ltd.

Silverado Gold Mines Ltd.: Mailing Address: Suite 1820 - 1111 West Georgia
St., Vancouver, BC, V6E 4M3, Canada; Email: Investor Relations:
ir@silverado.com, Public Relations: pr@silverado.com; Telephone Numbers:
Corporate: (604) 689-1535, Facsimile: (604) 682-3519, Toll Free:
1-800-665-4646 (Canada and USA only); Trading Symbols: OTC BB - SLGLF,
FRANKFURT - SLG

Bob Moriarty, 321 Gold: Riots in the Streets of America in Several Months! How to Prepare for it

Bob Moriarty in an explosive interview on what he sees in the not-too-distant future for America, and how people can prepare for the unsettling times.

The Gold Report: Bob, what do you think of the Fed’s latest move—cutting to a flexible zero to a quarter rate? Where do you see us going?

Bob Moriarty: We are to the point where we are about 14 feet from going over the edge of Niagara Falls. We haven’t gone over the edge yet; we haven’t gone to a total collapse. We don’t have riots in the streets; we don’t have a revolution. That’s coming; that’s about two to three months off.

Here’s what we’ve got: the Fed has committed to $8.5 trillion of taxpayers’ money to bail out the worst run companies and banks. It hasn’t worked. Now, they’re at a 0% to .25% on the Fed Funds rate for funds for banks, which means if you go down and you pay $100,000 for a T-bill for 90 days, your return is zero, which is to imply that there is zero risk to investing with the government. Anybody who actually believes that is going to be in for a real shock in the first quarter of next year.

GM has lost has lost $80 billion dollars in the last four years. They’re burning through $2 billion a month when everything is going well. Their sales are down 37% in November; the mathematical probability of GM surviving is zero. But we’re going to pour more taxpayer money down that hole. AIG's also turned into the proverbial black hole. I would think that at $300 billion or $400 billion or $500 billion or $600 billion, somebody’s going to wake up and say, “You know, we’re losing a lot of money here.”

TGR: It’s getting to be real money at that point.

BM: What we have done is guaranteed hyperinflation in the United States. We have guaranteed the destruction of the United States. We will have riots starting in the first quarter of next year; we will default by the summer of 2009.

TGR: Default on how many of the bonds? All? Or just some?

BM: 100%. The US government is going to default. Treasuries, Fannie Mae, Freddie Mac, the whole lot. It’s the end of empire. The United States government will not exist in its current form a year from now.

TGR: When you say “its current form,” what form will it take?

BM: I don’t know. It’s a really good question. I’m sure it will be a total state of chaos. I mean we’ve never been here. I think the analogy of the Soviet Union is probably the closest; we could break up into a series of little fiefdoms. But here’s what’s important to understand—the United States government has failed at every single level. It is too big; it is too unwieldy; it doesn’t work.

TGR: So, what does it mean? We’ve got impending chaos in the United States—and the financial markets will continue to go downward. Are we talking globally or U.S.?

BM: U.S. primarily, but globally because the U.S. is so important. The U.S. is the linchpin right now, but the rest of the world is going to have to learn to get by without the United States. What George Bush and Dick Cheney have done is essentially destroyed the United States; they have bankrupted the country. We are going to end up having our troops march out of Iraq to the nearest border because we can no longer afford to pay for them. We’re going to go into Zimbabwe-type inflation where they’re printing off $200 million dollar bills to buy a loaf of bread.

TGR: Other than moving to a nice island in the Caribbean, what does an investor or a resident of the U.S. do?

BM: You have to prepare; first of all, it’s important to prepare mentally and that means doing some education. Second, you don’t want to be in debt. You don’t want to be buying real estate. You don’t want to be taking any chances financially whatsoever. You want to be investing in real resources: good solid producing gold companies or silver companies or energy companies. You want to really hunker down.

TGR: If the financial markets continue to get clobbered, I would assume the gold equity stocks would continue to get clobbered?

BM: I don’t think they will. Here’s what is going to happen. There is actually a lot of money sitting on the sidelines. I’ve heard there's billions of dollars waiting to be invested in resource stocks. Resource stocks are selling for 5 cents or 10 cents on the dollar; that’s not going to last for very long.

What I want to get across to everybody is and it’s very important, is that when you go through chaos, the worse it gets, the more inclined you are to solve it. There are some easy solutions to this financial situation in the United States.

First of all, we downsize; we stop spending all this money at the federal level; we stop spending money at the state level. We end up with a much smaller government that isn’t trying to make every decision for every person all the time. Big government doesn’t work any more. We need to change that. We need to go back to self-sufficiency; we need to go back to citizens participating in government.

We need to go back to Economics 101 where you invest to make money, save money. The gold companies that have the business model of print shares and drill, print shares and drill—those guys aren’t going to succeed. But the guys who have producing assets and real stories, they’re going to succeed beyond their wildest imagination.

We need to kill the Federal Reserve System and go back to honest money. That’s 90% of our problem right now. We are all playing at investing with Monopoly money backed by nothing. It’s about as smart as you sitting down at a high stakes poker game, you have a wad of $20 gold pieces and everyone else is playing with their Mobil Oil credit card. Those fools will bet on anything, it’s not real money.

TGR: Can they perform in a falling financial market?

BM: Of course.

TGR: Assuming gold is rising.

TGR: Do you see think a lot of these juniors have bottomed? A lot of the producers have doubled off of bottoms.

BM: Yes, they have actually—they bottomed in October. If you go back to what I was saying back then, I said we were at a bottom. They had definitely bottomed. The HUI has doubled since then and no one noticed.

The general stock market is going to be good until maybe January or February. But it’s going to get far worse after that. We have some real problems that will be surfacing between now and then. But there’s an enormous amount of money sitting on the sidelines waiting to go somewhere safe. When people realize that resource stocks are the only safe haven, they’re going to go up more than anybody can imagine.

So, there are two things I would do with new money. First of all, gold and silver serve as an insurance policy against chaos. If you cannot put your hands on some physical gold, physical silver, it’s like living without an insurance policy. When you need food, if you don’t have gold or silver, you’re going to be a bit shocked. Second of all as far as an investment program, beyond the insurance policy, you want to be in real assets. That’s gold or silver or energy producers or near-term producers, or companies with a good business model.

TGR: Any names you could share with us?

BM: Look at the recent Haywood Securities report, "Junior Mining: Report on Cash Sustainability." Now, 96 companies currently traded at discount to their last reported net working capital. This is the greatest opportunity to invest that I have ever read or heard about; it’s absolutely unimaginable. It’s not going to last very much longer, but stocks could move up. The really bad gold stocks are going to move up 500%.

TGR: You mentioned that you looked at gold and silver as an insurance policy and recommend investing in real assets. Do you have a recommendation of a percentage of the portfolio that people should be holding in these? How much cash should they keep for future opportunities?

BM: Ah, very little. Cash is going to be the most dangerous thing you can invest in. Cash, T-bills, T-bonds are going away; they’re going to be worth zero. You’re going to walk into a bank one day and your ATM machine is not going to work, and your cash is going to be no good. I would think two to three months' living expenses, if you can do that in cash or silver, would be a very high comfort level. That percentage will change depending on what people have. Everybody—I really want to emphasize that—everybody needs to have some physical gold or silver.

TGR: Bob, you don’t see that we’re going to get this hyperinflation kicking in or it’s going to be so short, it won’t matter?

BM: Hyperinflation is starting to kick in now. I think you’re going to see it turn shortly. The government has been flooding the system with money and in short order it’s going to try to find a safe haven. Here’s what to look for. If you take a look at a chart right now, the 10-year, 30-year bonds have gone curve linear. They’re going straight up to the moon. Any time a market does that, it’s about to crash. When the bond market crashes, it’s going to be 15 on the Richter scale. It’s going to be enormous. It’s far more dangerous than the stock market crashing. When the bond market crashes, the hyperinflation starts.

TGR: And what’s your timeline on that? You were saying before, January or February?

BM: The bond market is literally going to start crashing any day now. I mean it’s very, very soon. I think that the stock market is good through January or February. I think the resource market will start up in an explosive way literally in a few weeks or so. It’s actually going up now. If you go back the last month or six weeks, it’s gone up a lot more than anybody would believe. Everybody thinks, “Well, my gold stocks are all down, I’m going to lose money hand over fist.” But they’re actually 50% better off now than they were in October.

TGR: Bob, earlier you mentioned investing in real assets. You said gold and silver and energy producers. That’s a pretty broad-based statement; could you give us an idea of what you mean when you say energy producers?

BM: Coal producers, oil producers, natural gas producers—energy is absurdly cheap now; it was absurdly expensive at $147. You can buy energy producers really cheaply, and I have written up a number of them on 321energy.com. I like anything real, anything that’s based on Economics 101. We’re going to take something of value and we’re going to increase its value, and we’re going to sell it to the public for a profit. That’s just a really good business model.

Here’s what I want to emphasize, and what’s important to get across—I don’t want to sound like I’m totally negative because I’m not totally negative. The worse it gets in the United States, the more impetus there will be to say, “Hey, what caused this in the first place? And what can we do to prevent it in the future?” And the answer to that is quite simple. We got off the gold standard in 1933 and in 1971, and that let government grow totally out of control. We need to rein government in; we need to go back to government of the people, by the people, and for the people. The way to do that is to go back to a gold and silver based currency. Once we do that we can start investing with some kind of common sense.

TGR: So the good news is that through all this chaos there will be some change in the way the government operates?

BM: Government will be much smaller; I think that any rational American can look at big government and say, “Hey, wait a minute. This doesn’t work.” And the funny thing is it’s not because I’m a liberal or I’m a conservative. I’m not sure there is any such thing as a perfect liberal or a perfect conservative, even though we act like they’re two totally different things. Big government doesn’t work; we need to go back to Economics 101 and only spend the money that you earn.

TGR: OK, other than getting mentally ready, getting into gold and silver and real assets, do you have any other thoughts on where to put our cash if we have any cash right now? What about other commodities, such as food commodities?

BM: Absolutely. I believe in peak oil, and peak oil is an analog of peak food. So, it requires X number of calories of energy to produce X number of calories of food, so when you run out of cheap energy, you run out of cheap food. Americans are going to be very angry. We have a very dangerous system in the United States where we essentially have a day and a half’s worth of food in our food stores. It’s a just in time now system. And it’s very vulnerable to civil disorders.

TGR: Is there an investment play within the food component?

BM: I think anything in food. Strangely enough, what I like is fertilizers. Fertilizers are a real cheap way of betting on food. Some of the big food companies, like R Gill, are just as corrupt as everybody in Washington, everybody in Wall Street, so I can’t recommend them. I don’t know that big food stocks are good, but maybe equipment manufacturers would be a good bet.

TGR: Bob, do you think there’s any gold in Fort Knox?

BM: That’s a really good question. I hope there is. But I don’t know. The really interesting thing is nobody in the government has ever even pretended that they might do something with it. If it was me, I’d go count the bars; I’d figure out who owns them and I’d come up with some kind of currency tied to gold, you know—1 gram notes, and 5 gram notes and 10 gram notes. I think mathematically there probably isn’t, but I don’t know. Nobody knows.

TGR: And there’s no accountability?

BM: Ah, are you kidding? George Bush is president of the United States.

TGR: Yes, but soon he won’t be. You know, I’ll write a letter to Obama and ask him. Well, Bob, as usual, it’s always great to do these interviews. We appreciate it.

Bob Moriarty and his wife, Barb, launched 321gold.com as a private website seven years ago, when they were convinced gold and silver were at a bottom and wanted to help others understand what they needed to know about investing in resource stocks. Since then, they’ve introduced a second resource site, 321energy.com. Bob travels to dozens of mining projects a year. He was one of the first analysts to write about NovaGold, Northern Dynasty, Silver Standard, Running Fox and YGC Resources, among others. Prior to his Internet career, Bob was a Marine F-4B pilot at the age of 20 and a veteran of over 820 missions in Viet Nam. Becoming a Captain in the Marines at 22, he was one of the most highly decorated pilots in the war.



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African Queen Mines Abandons Braganza Gold Project In Mozambique to Focus On

Vancouver, British Columbia CANADA, Dec 27, 2008 (Filing Services Canada via COMTEX) ---- African Queen Mines Ltd. (AQ - TSX Venture, QM0 - FWB), (the "Company") announces that it has provided formal notice of abandonment to Bobcat Mining Limitada ("Bobcat") with respect to the Braganza Gold Project in Mozambique (the "Project"). The Company has the right to earn up to a 75% interest in the Project pursuant to the Letter Agreement dated August 17, 2007, between Pan African Mining Corp., predecessor to the Company, and Bobcat, as amended on October 4, 2007 and May 30, 2008 (the "Agreement"). By abandoning the Project at this time, the Company is relinquishing all rights with respect to the underlying property licenses and otherwise relating to the Project.

The Agreement covered exploration and development of the historic Braganza gold mine situated at the eastern end of the Mutare - Penhalonga Greenstone Belt in Manica Province in central Mozambique. The Project comprises a single exploration license (EPL 857L) and a portion of EPL 679L to the immediate south, encompassing in aggregate approximately 6 km2. Included in the regional project area are also the Diaz Pereirra, Damp, Richmond and Marianas historic minesites, marked by pits, trenches and small adits.

During the past two years, the Company carried out exploration activities on the Project under the guidance of Senior Consulting Geologist Pete Siegfried, P. Geol., a qualified person. Work included detailed mapping and sampling, ground magnetic and IP surveys of the area, trenching, channel sampling of old adits and limited reconnaissance drilling.

The prospecting operations were carried out on behalf of the Company by Remote Exploration Services of Cape Town, South Africa. The data compiled reflects the results of a highly professional and intensive geological study of the area with aggregate costs approximating $600,000.

While surface sampling of the area reflected the presence of gold with grades typically ranging from 0.1 g/t Au to 1.0 g/t Au, and individual grab samples as high as >5 g/t Au, trench sampling and limited reconnaissance drilling did not provide encouragement for the existence of a commercially viable primary deposit in the area. To the contrary, results just received indicate a disappointing tenor of gold below surface, with the most intensely mineralized and sheared part of the structure yielding 0.22 and 0.25 g/t Au over 2 m contiguously. Other values were in the range of 0.1 g/t Au.

Due to the results of the exploration program to date, management of the Company has concluded that no further work on the Project is recommended, although some potential may exist on other parts of the regional structure, albeit with difficult access in steep and mountainous terrain. The Company has therefore decided to abandon the Project and relinquish its rights.

According to Irwin Olian, CEO of the Company, ?Results from Braganza to date simply do not justify further expenditure of time, energy and funds on the part of the Company. It appears that the Portuguese did a very efficient job of mining all of the productive, higher-grade zones at Braganza decades ago; in this rather difficult economic environment it is important that we prioritize our projects with a view toward committing our resources to those projects most likely to add value long-term for our shareholders. We remain very excited about our diamond projects in Botswana and Namibia, which will be the principal focus of our activities in the coming months. At the same time, we will be evaluating results from our other three gold projects in Mozambique with a very sharp pencil to ensure that our efforts there are being optimized.

About African-Queen

The Company is an exploratory resource company with diversified mineral properties in Southern Africa. It is exploring its properties in Botswana and Namibia for diamonds, and it is exploring its properties in Mozambique for gold and other metals. The Company licences in Botswana and Namibia comprise approximately 11,800 sq km of diamond prospects. In Mozambique it has approximately 2,000 sq km of gold and other metals licences under agreements with three other companies. Its operations in Botswana are carried out through its operating subsidiary, PAM Botswana (Pty) Ltd.; its operations in Namibia are carried out through its operating subsidiary PAM Minerals Namibia (Pty) Ltd.; and its operations in Mozambique are carried out through its subsidiary PAM Mocambique Limitada.

The Company has its executive offices in Vancouver, Canada.

On Behalf of The Board of Directors of

African Queen Mines, Ltd.

"Irwin Olian"

Irwin Olian

Chairman & CEO

For more information, contact:

Irwin Olian, President and CEO

E-mail: tigertail@africanqueenmines.com

Phone: (604) 899-0100

Fax: (604) 899-0200

Carrie Howes, Corporate Communications

Email: carrie@totumos.com

Phone: Dusseldorf - +49 (0) 1722 1234 47

Phone: London - +44 (0) 7780 602 788

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.

Source: African Queen Mines Ltd.

Maximum News Dissemination by Filing Services Canada Inc. *

www.usetdas.com

http://www.useTDAS.com Copyright (c) 2006 Filing
Services Canada Inc.

New "Guinea" Leader Captain Moussa Dadis Camara Shutters all Mining Contracts, Stops Gold Production

The new military leader of Guinea, Captain Moussa Dadis Camara, almost immediately after taking control of the country in a coup, announced he was blocking all existing mining contracts and would start to renegotiate them.

Just hours after the death of President Lansana Conte late Monday, the coup began.

According to Camara, production in gold mines has already been stopped, and there'll be "no more extraction until further notice."

Along with gold, there are significant deposits of iron, nickel and diamonds in the country. Guinea also is the world's largest exporter of bauxite. In 2007 uranium deposits were found in the country as well.

GoldQuest Reports Drill Results From New Gold Zone at Las Animas

VANCOUVER, BRITISH COLUMBIA - GoldQuest Mining Corp. ("GoldQuest" or the "Company") (TSX VENTURE: GQC)(FRANKFURT: M1W) is pleased to report drill results from ten holes completed on its 100% owned Las Animas project located in the central Dominican Republic. The Las Animas project is excluded from the Gold Fields Option Agreement.

HIGHLIGHTS

- New gold-zone discovered at Las Guazumitas, 950 meters southeast of main Las Animas Zone;

- Drill hole LA-44 intercepted 27.95 meters grading 1.32 g/t Au;

- Drill hole LA-45 intercepted 18.00 meters grading 1.32 g/t Au;

- Las Guazumitas is disseminated gold mineralization with base metals, hosted by sericite altered rhyolite;

- Partially tested gold-in-soil anomaly approximately 1,200 meters long by 200 meters wide.

The drill results of the last ten diamond drill holes totalling 1,879 meters of the Phase 3 drill programme at Las Animas are reported. Nine of these holes (1,208 m) were drilled in the Las Guazumitas zone located approximately 950 meters southeast of the main Las Animas zone. Results from a tenth hole completed on the main Las Animas zone are also reported.

Drilling at Las Guazumitas tested a large gold in soil anomaly defined over an approximate 1,200 by 200 meter area. The soil gold anomaly trends in a north-south direction obliquely across the topography and is still open to the south. The anomaly is terminated at the north end by a NE-trending creek which follows a late fault zone. Surface trenching within the soil anomaly returned 9.10 meters grading 4.33 g/t Au and grab samples of rock float in the area returned values up to 21.40 g/t Au. The soil anomaly correlates with a mapped body of sericite schist approximately 1,200 meters long, which is elongated north-south and 150 to 200 meters wide. North of the sericite schist and gold anomaly there are sediments with a NE-strike which are the eastward continuation of the sediments that form the hanging wall to massive sulphide mineralization at the main Las Animas zone. The sediments appear to thin and pinch out to the east of Las Guazumitas.

Gold mineralization is related to sericite alteration and bands of disseminated to semi-massive pyrite in the schistosity. Gold is associated with silver, lead, zinc, barium and anomalous arsenic, antimony, copper, and molybdenum. Mineralization is interpreted to be related to either a blind massive sulphide body or a deep epithermal intermediate sulphidation system hosted by felsic volcanic rocks possibly related to an underlying or adjacent intrusive or porphyry source that has either not been identified or is not exposed at surface.

Hole LA-38 was a deep hole drilled directly south of LA-26 on the main Las Animas Zone. It was drilled to test for the continuation of the massive sulphide body directly below hole LA-26 which returned a drill intercept of 67.77 meters grading 3.38% Cu, 3.98% Zn, 1.49 g/t Au and 26.52 g/t Ag. LA-38 intercepted 631.20 meters of sericite altered rhyolites before intersecting 0.71 meters of pyritic semi-massive sulphide with 0.17 g/t Au and 0.22% Zn, interpreted to be a band of massive sulphide within the footwall felsic volcanics. This interpretation is significant since it extends the alteration zone 153 meters vertically below LA-26, and implies potential mineralization over 500 meters below surface. The hole continued in weakly altered rhyolite to a depth of 671 m.

Hole LA-41 returned anomalous Au from surface with 16.25 meters grading 0.34 g/t Au in sericite schist with up to 50 ppm Mo. Gold values correlate with amount of hematite and jarosite after sulphides. The hole also returned 9.35 m from 43.00 m grading 0.45 g/t Au in sericite schist with pyrite, with 8.1 g/t Ag, 0.15% Cu, and 0.28% Zn.

Hole LA-42 intercepted 10.60 m grading 0.53 g/t Au with 24.90 g/t Ag and 0.13% Pb in oxidized sericite schist. The hole was drilled below the trenching that returned 9.10 meters grading 4.33 g/t Au.

Hole LA-43 intercepted rhyolite and rhyolite breccia with propylitic alteration grading 0.13% Zn over 73.06 m. The hole was drilled to test the extension of mineralization intercepted in hole LA-42.

Hole LA-44 intercepted sericite schist and rhyolite which returned an interval of 27.95 m grading 1.32 g/t Au with 11.80 g/t Ag from the top of hole. The hole also returned 14.40 m grading 0.19 g/t Au and 18.00 m grading 0.16 g/t Au, 4.60 g/t Ag, and 0.24% Zn. The hole was drilled below a deep surface pit that returned 2.60 g/t Au.

Hole LA-45 intercepted rhyolite and sericite schist. The hole intercepted 18.00 m grading 1.32 g/t Au with 11.30 g/t Ag, 0.15% Cu, 0.16% Pb, and 1.00% Zn in sericite schist with sulphides. At depth the hole intercepted 16.00 m at 0.32 g/t Au and 39.60 g/t Ag with 0.05% Cu, 0.30% Zn. The hole was drilled below a deep surface pit that returned 1.00 g/t Au.

Hole LA-46: The upper part of hole is anomalous in Zn over 67.95 m grading 0.14% Zn in dacite and mudstone with volcanic sandstone and volcanic breccia. At the base of this interval there is 5.06 m grading 0.14 g/t Au at a contact between volcanic sediments and rhyolite.

Hole LA-47 was completely in sericite schist drilled partially sub parallel to schistosity. The hole has drill intervals of anomalous gold associated with pyrite including 72.00 m grading 0.23 g/t Au including 3.26 m at 1.35 g/t Au. Results from drill holes LA-39 and 40 did not return any significant results.


Table of Results

---------------------------------------------------------------------------
From To Length Gold Silver Copper Lead Zinc Oxide or
Hole (m) (m) (m) (g/t) (g/t) (%) (%) (%) Sulphide
---------------------------------------------------------------------------
LA-41 4.57 20.82 16.25 0.35 0.01 Oxide
---------------------------------------------------------------------------
and 27.00 31.00 4.00 0.24 Sulphide
---------------------------------------------------------------------------
and 43.00 52.35 9.35 0.45 8.10 0.15 0.05 0.28 Sulphide
---------------------------------------------------------------------------
and 71.00 80.77 9.77 0.21 Sulphide
---------------------------------------------------------------------------
LA-42 73.22 83.82 10.60 0.53 24.90 0.13 Oxide
---------------------------------------------------------------------------
and 79.77 88.10 8.33 0.24 Sulphide
---------------------------------------------------------------------------
LA-43 58.00 131.06 73.06 0.13 Sulphide
---------------------------------------------------------------------------
LA-44 3.05 31.00 27.95 1.32 11.80 0.20 Oxide
---------------------------------------------------------------------------
and 45.53 59.94 14.41 0.19 Oxide
---------------------------------------------------------------------------
and 72.00 90.00 18.00 0.16 4.70 0.09 0.03 0.24 Sulphide
---------------------------------------------------------------------------
LA-45 54.00 72.00 18.00 1.32 11.30 0.15 0.16 1.00 Sulphide
---------------------------------------------------------------------------
and 112.00 128.00 16.00 0.32 39.60 0.05 0.30 Sulphide
---------------------------------------------------------------------------
LA-46 3.05 71.00 67.95 0.14 Oxide
---------------------------------------------------------------------------
and 65.94 71.00 5.06 0.148 0.09 Oxide
---------------------------------------------------------------------------
and 94.00 100.00 6.00 0.12 Sulphide
---------------------------------------------------------------------------
LA-47 105.00 119.00 14.00 0.216 Sulphide
---------------------------------------------------------------------------
and 153.00 225.00 72.00 0.232 Sulphide
---------------------------------------------------------------------------
inc 205.74 209.00 3.26 1.356 Sulphide
---------------------------------------------------------------------------


About GoldQuest

GoldQuest is a Vancouver based Exploration company focused on the Dominican Republic. Through regional grass-roots generative exploration and new geological models the Company has built a portfolio of new gold and copper discoveries including its 100% owned Las Animas Au-Ag-Cu-Zn project excluded from the Gold Fields joint venture.

Dr Stewart D. Redwood, FIMMM, Consulting Geologist to the Company, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the content of this news release. Preparation and geochemical analyses of samples were carried out by Acme Analytical Laboratories Ltd. Standards and blanks are routinely inserted into all sample batches for quality assurance and quality control.

GoldQuest is traded on the TSX-V under the symbol GQC.V and in Frankfurt/Berlin with symbol M1W.

On behalf of the Board of Directors

Alistair H. Waddell

Forward-looking statements:

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that GoldQuest expects to occur, are forward looking statements.

Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although GoldQuest believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of GoldQuest's management on the date the statements are made. GoldQuest undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.



Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.


Contacts:
GoldQuest Mining Corp.
Alistair Waddell
President & Chief Executive Officer
(604) 632-4333

GoldQuest Mining Corp.
Dan Maarsman
Investor Relations - Vancouver, Canada
(604) 632-4333
Email: investorrelations@goldquestcorp.com
Website: www.goldquestcorp.com
© MarketWire 2008

Arctic Oil & Gas Corp. (AOAG) Alaska Placer Gold Mines; Forward Gold Sales Offering

Arctic Oil & Gas Corp. (PINKSHEETS: AOAG), a resources development company, is pleased to announce the Company is rapidly progressing its plans for two new Alaska placer mine developments for commissioning in 2009 to produce approximately 300,000 ounces gold p.a. in the first year.

The Company has completed preparing and is now distributing a $250 million private offering for delivery of 500,000 ounces of gold at $500 per ounce paid upfront, with bullion deliveries estimated to commence in July 2009. The forward gold purchase offer promises Banks and Institutional investors delivery of gold bullion at a discount to the spot price.

The unique forward gold purchase offer promises qualified investors a potentially more profitable mechanism than gold exchanges for securing large quantities of gold bullion, with a lower net cost of $500 per ounce.

The non NI 43-101 compliant gold resources providing security to the forward gold purchase offer total approximately 1.00 million ounces of placer gold based on detailed historical resources estimates in the following placer deposits:

Nome Offshore: 7.3 million cubic yards measuring only the first yard depth, (in a 10-15 yard deep placer deposit) grading 0.0269 Oz/yard, (0.83 grams/yard) Gold reported by Westgold and others in 1980s and cited in previous news releases. Adjacent lease application areas could hold an additional 1-10 million ounces.

Denali North Mine, Onshore: At least 15 million cubic yards grading 0.029 to 0.039 Oz/yard Gold from sampling, drilling and mapping, reported by independent geologists, the mine operator and others and cited in previous news releases. Gold reserves on this property are in excess of 500,000 ounces.

The Company plans to re-evaluate the substantial amount of historical drilling and bulk sampling on the two project areas to prepare new NI 43-101 compliant reserves statements.

Use of Historic Resource Estimates: All historical resource estimates quoted herein are based on prior data and reports obtained and prepared by previous operators and certain other information. The historical estimates should not be relied upon. No qualified person (as defined by NI 43-101) has done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Further work will be required to evaluate these resource estimates.

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Actual results may differ from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks associated with resource exploration risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect AOAG's financial results is included in its filings with the Securities and Exchange Commission.

Contact:
Peter Sterling
323-356-7777
Email Contact

B2Gold Corp. Announces Additional Positive Exploration Drill Results From the Quebradona Gold Property in Colombia

VANCOUVER, BRITISH COLUMBIA, Dec 18, 2008 (MARKET WIRE via COMTEX) -- B2Gold Corp. (CA:BTO) ("B2Gold" or the "Company"), is pleased to announce further exploration drilling results from the Aurora target on the Quebradona property in Colombia. The Quebradona property is a joint venture with AngloGold Ashanti Limited ("AngloGold Ashanti").

The new drilling results from Quebradona confirm the good grade and consistency of gold mineralization from the first 16 holes (see press releases dated 02/07/08 and 08/05/08) in the Aurora system. The drilling intersected up to 380 metres ("m") at 1.1 grams per tonne of gold ("g/t Au") in Hole 24.

Quebradona Property

The Quebradona property is located 60 kilometres ("km") southwest of Medellin, Colombia. The new results from the Quebradona property are from an additional nine holes (holes 17 to 25), totaling 2,782.6 m drilled in the La Mama zone of the Aurora system. The additional holes followed up positive results obtained from the first 16 holes at Aurora. A total of 25 holes and 7,280.8 m have been drilled at Aurora in 2008.

In addition to Aurora, the Company has drill tested the Isabella, La Sola, Chaquiro and Tenedor gold-bearing porphyry systems outlined by prior surface sampling over a six by four km area. A total of 13,318.8 m in 43 holes were drilled at Quebradona in 2008, comprised of 7,280.8 m in 25 holes in Aurora, 803.1 m in four holes in Isabella, 1,900.1 m in six holes in La Sola, 1,987.6 m in five holes at Chaquiro and 1,347.2 m in three holes at Tenedor. Assay results are pending on La Sola, Chaquiro and Tenedor, and will be released as available but results are not expected to show significant gold mineralization. Assay results on Isabella were previously released (see press release dated 08/05/08).

The Aurora system consists of two strong porphyry gold occurrences contained within a suite of intermediate intrusive and volcanic rocks. The Aurora system covers an 800 by 700 m area and is comprised of the La Mama zone and the La Isla zone, separated by 200 m of late, unmineralized porphyry.

The additional nine holes drilled at Aurora tested the continuity of previously outlined gold mineralization in the La Mama zone. Of the 25 holes drilled at Aurora, 22 holes totaling 6,129.9 m tested La Mama and three holes totaling 1,150.9 m tested La Isla.

Highlights of the results from the additional nine holes (Holes 17 to 25) at Aurora are shown below.

Aurora Drill Holes 17 to 25 Assay Results

--------------------------------------------------------------------
From To Metres Gold Silver Copper
Location Hole # (m) (m) (m) (g/t) (g/t) (%)
--------------------------------------------------------------------
La Mama 17 Low Grade
--------------------------------------------------------------------
La Mama 18 Low Grade
--------------------------------------------------------------------
La Mama 19 0 208.1 208.1 0.90 1.9 0.124
--------------------------------------------------------------------
La Mama 20 0 454.5 454.5 0.69 1.8 0.124
--------------------------------------------------------------------
La Mama Incl. 135.00 264.10 129.1 1.00 2.2 0.124
--------------------------------------------------------------------
La Mama(i) 21(i) 0 91.25 91.25 0.72 2.2 0.119
--------------------------------------------------------------------
La Mama 22 0 80.30 80.30 1.01 3.3 0.209
--------------------------------------------------------------------
La Mama 23 136.00 195.20 59.20 1.66 2.5 0.192
--------------------------------------------------------------------
La Mama 24 0 379.9 379.9 1.09 1.6 0.161
--------------------------------------------------------------------
La Mama Incl. 60.72 141.00 80.28 2.02 2.1 0.206
--------------------------------------------------------------------
La Mama(i) 25(i) 2.00 369.65 367.65 0.67 1.6 0.126
--------------------------------------------------------------------
La Mama Incl. 2.00 80.00 78.00 1.08 2.6 0.157
--------------------------------------------------------------------
(i)Parts of holes 21 and 25 are currently being re-assayed to meet B2Gold's
QA/QC standards


Drilling has now tested a 700 by 400 m area of the La Mama zone with intercepts from the recent drilling returning up to 129 m of 1.0 g/t Au in Hole 20, 80 m of 1.0 g/t Au in Hole 22, 380 m of 1.1 g/t Au including 80 m of 2.0 g/t Au in Hole 24 and 78 m of 1.1 g/t Au in Hole 25. Significant gold mineralization has been outlined over a 400 m long by 150 m wide zone extending to at least 450 m in depth. The zone remains open at depth. The Company expects to prepare a National Instrument 43-101 compliant resource study based on this drilling at the La Mama zone of Aurora by early 2009.
At La Isla, significant gold mineralization has been outlined over a 300 m long by 50 to 100 m wide zone extending to at least 350 m in depth with the zone remaining open in all directions. Drilling at La Isla has encountered significant mineralization over a 250 by 200 m area with intercepts up to 182 m at 1.08 g/t Au in Hole 8. Further drilling will test the extensions of the zone.

Highlights of the previously released first 16 drill holes at Aurora are shown below.

Aurora Drill Holes 1 to 16 Assay Results - Previously Released

--------------------------------------------------------------------
From To Metres Gold Silver Copper
Location Hole # (m) (m) (m) (g/t) (g/t) (%)
--------------------------------------------------------------------
La Mama 1 4.05 165.92 161.87 0.97 2.50 0.154
--------------------------------------------------------------------
La Mama 2(i) 0 52.70 52.70 1.36 2.10 0.144
--------------------------------------------------------------------
La Mama 3 0 86.15 86.15 0.99 2.10 0.134
--------------------------------------------------------------------
La Mama Incl. 0 32.90 32.90 1.67 2.60 0.167
--------------------------------------------------------------------
La Mama 4 0.70 87.00 86.30 2.07 2.60 0.166
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La Mama 5 0 65.80 65.80 0.94 2.50 0.162
--------------------------------------------------------------------
La Mama 6 5.40 235.00 229.60 0.79 2.00 0.152
--------------------------------------------------------------------
La Mama Incl. 29.00 154.00 125.00 1.07 2.00 0.163
--------------------------------------------------------------------
La Mama 7 No significant values
--------------------------------------------------------------------
La Isla 8 0 439.00 439.00 0.61 1.00 0.127
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La Isla Incl. 256.60 439.00 182.40 1.08 1.20 0.190
--------------------------------------------------------------------
La Isla 9 136.00 223.00 87.00 0.54 1.80 0.138
--------------------------------------------------------------------
La Isla and 251.10 272.90 21.80 0.54 1.70 0.138
--------------------------------------------------------------------
La Mama 10 1.00 268.00 267.00 0.50 1.60 0.101
--------------------------------------------------------------------
La Mama 11 211.00 296.00 85.00 1.20 2.80 0.247
--------------------------------------------------------------------
La Mama Incl. 258.00 296.00 38.00 1.66 2.80 0.269
--------------------------------------------------------------------
La Mama 12 Low Grade
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La Mama 13 No significant values
--------------------------------------------------------------------
La Isla 14 182.00 262.70 80.70 1.02 0.80 0.176
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La Mama 15 0 49.00 49.00 0.34 0.90 0.081
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La Mama 16 Low Grade
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(i)Lost hole at 52.70 m in mineralization.


Under the terms of the Colombian joint venture agreement (the "Agreement"), B2Gold has earned its 51% interest in the Quebradona property by completing 5,000 m of exploration drilling. In September 2008, B2Gold and AngloGold Ashanti reached an agreement to amend the Agreement and jointly fund an additional 10,000 m of exploration drilling at the Quebradona Property on a 51% B2Gold / 49% AngloGold Ashanti basis (see press releases dated 16/09/08).

An additional 8,318.8 m of the planned 10,000 m drilling was completed in 2008 and after receipt of all results, data and interpretation from the drilling program, AngloGold Ashanti will have 30 days to choose from the following participation alternative regarding further exploration at the Quebradona property: (i) elect to fund all future exploration as the operator at 65% and free carry B2Gold through to feasibility; (ii) elect to be the operator and fund on a pro-rata basis of 51% AngloGold Ashanti and 49% B2Gold; or (iii) elect to fund as the owner of a 49% interest with B2Gold as operator owning and funding to 51%.

The drilling program at the Quebradona property is reviewed and the results approved by Tom Garagan, B2Gold's Qualified Person under National Instrument 43-101. The Quebradona drill program utilizes extensive QA/QC (quality assurance and quality control) protocols for assaying and core sample handling that consist of the systematic insertion of blanks, standards and duplicates as well as using a secondary laboratory for regular check assaying. Core samples are cut with a diamond saw with one-half of the core placed in sealed bags and shipped directly to ALS Chemex Labs in Bogota, Colombia for sample preparation with the pulps subsequently sent to ALS Chemex Labs in Lima, Peru for gold fire assay and ICP analyses. Further Colombian Exploration

B2Gold has carried out approximately 30,000 m drilling on the 51% B2Gold / 49% AngloGold Ashanti Gramalote gold property in 2008 and drilling is continuing. B2Gold intends to publish a National Instrument 43-101 compliant resource calculation of the Gramalote Ridge zone on the property in January 2009.

At the 100% owned Mocoa copper molybdenum deposit, B2Gold has completed a 5,122 m drill program. B2Gold has a 2008 Colombian exploration budget of US$23 million.

Corporate Update

B2Gold maintains a strong financial position with approximately CDN$57.6 million in cash. The Company continues to explore and evaluate potential acquisition opportunities, capitalizing on the extensive experience and relationships that its management team has developed in the mining industry over the past 25 years. B2Gold's corporate objective is to build an intermediate gold company through exploration and acquisitions.

ON BEHALF OF B2GOLD CORP.

Clive T. Johnson, President and Chief Executive Officer

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.

Contacts:
B2Gold Corp.
Ian MacLean
Vice President, Investor Relations
(604) 681-8371

B2Gold Corp.
Kerry Suffolk
Manager, Investor Relations
(604) 681-8371
Website: www.b2gold.com



SOURCE: B2Gold Corp.
http://www.b2gold.com

Copyright 2008 Market Wire, All rights reserved.

Yamana Gold Declares December 2008 Dividend

TORONTO, ONTARIO, Dec 18, 2008 (MARKET WIRE via COMTEX) -- YAMANA GOLD INC. (CA:YRI) (AUY:Yamana Gold Inc.) (UK:YAU) today announced its December 2008 monthly dividend of US$0.01 per share. Shareholders of record at the close of business on Wednesday, December 31, 2008 will be entitled to receive payment of this dividend on Wednesday, January 14, 2009. The dividend is an "eligible dividend" for Canadian tax purposes.

About Yamana

Yamana is a Canadian gold producer with significant gold production, gold development stage properties, exploration properties, and land positions in Brazil, Argentina, Chile, Mexico, and Central America. Yamana is producing gold at intermediate company production levels in addition to significant copper and silver production. The Company plans to continue to build on this base through existing operating mine expansions and throughput increases, the advancement of its exploration properties and by targeting other gold consolidation opportunities in Brazil, Argentina and elsewhere in the Americas.

Contacts:
Yamana Gold Inc.
Jodi Peake
Vice President, Corporate Communications
& Investor Relations
(416) 815-0220
Email: investor@yamana.com

Yamana Gold Inc.
Letitia Wong
Director, Investor Relations
(416) 815-0220
Email: investor@yamana.com



SOURCE: Yamana Gold Inc.
mailto:investor@yamana.com

Copyright 2008 Market Wire, All rights reserved.

Renet Health Announcing Gold Exploration Sector

TORONTO, Dec 18, 2008 /PRNewswire-FirstCall via COMTEX/ -- Renet Health. Inc. (Pink Sheets: "RNTT") is pleased to announce that it is the process of changing business direction and is entering the field of gold exploration. A new board of directors and management team has been appointed. The group consists of renowned geologists and mining industry veterans from US and Canadian public companies.

The company will be announcing the acquisition of significant mining claims in the US. These claims are strategically located in a mining district in the US which has had some newsworthy results in the last ten weeks. The company has the stated goal of acquiring a portfolio of properties which will make it a takeover target for a major US or Canadian based miner.

The Company has filed the appropriate documentation with NASDAQ to effectuate a change in the corporate name to "Bryn Resources Inc" and a reverse split of the Company's total shares issued and outstanding. Management deems it to be in the best interests of the Company and its shareholders to change the name to better reflect the future business operations of the Company and to effectuate a reverse stock split based upon current market conditions. It is anticipated that the change in name and reverse split will be effectuated by NASDAQ within the next two weeks.

A website is being prepared and will be online by month end. The company will also be appointing an IR representative which will be made available to answer investor calls in regards to the expected PR flow.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
SOURCE Renet Health Inc.

Copyright (C) 2008 PR Newswire. All rights reserved

Expected Interest Rate Cuts Should Push Gold Prices Higher

With most expecting the Federal Reserve to cut its benchmark bank-lending rate even further, many believe it's a good time to put some money into gold.

The reasoning is if interest rates are cut, it'll further weaken the U.S. dollar, causing gold to surge upward.

Last weak gold rose by 9.1 percent to $820.50 an ounce.

Hunt Gold Corporation -- Disposal of American Molygold Corp

Company Confirms Completion of American Molygold Corp Sale in January 2009


Hunt Gold Corporation (PINKSHEETS: HGLC) announced on November 14, 2008 the sale of its " Molybdenum" interests held through its subsidiary company, American Molygold Corp.

The sale amount is US$620 million to be settled in shares of Common Stock of a USA quoted Company focussed exclusively on the business of Molybdenum. The sale will be completed upon the transfer of title of the various claims held by American Molygold Corp, to the Purchaser.

This transaction will be completed by mid January 2009.

The value of this disposal equates to US$0.0021 per 1 share of Hunt Gold Corporation Common Stock. The Company's stock is currently trading at US$0.0003 in the market.

Once the value of the Company's 14 (fourteen) Gold Mining Properties, already significantly increased by the steady rise in the price of Gold, to this value, clearly demonstrates and reflects the huge discount to Net Asset Value at which the Company's stock is currently trading in the market.

As announced on August 15, 2008, the Company announced that it intended to distribute all of the proceeds from the sale of American Molygold Corp to its stockholders upon receipt of these proceeds. This Stock Dividend has been approved in writing by stockholders holding in excess of 75% of this Company's Common Stock.

This will result in a Stock Dividend payout to stockholders valued at US$0.0021 per 1 (one) share of Hunt Gold Corporation Common Stock.

Stockholders will be advised once the "Record Date" and "Pay Date" of this Stock Dividend has been declared.

Hunt Gold Corporation intends to focus exclusively on the Exploration and Mining of its existing Gold properties. The Company does not need to place any shares for cash, nor does it need to retain any of the proceeds from the sale of American Molygold Corp, as it is funding the exploration of its Gold Mining interests through traditional Bank Mortgage Finance.

Molybdenum has become very important as demand for moly is tied to demand for steel used in the petroleum industry (e.g. drill pipe, pipeline construction), which will benefit from accelerated petroleum exploration and development in an era of high oil prices.

The molybdenum assets held by American Molygold Corp and disposed of by your Company; are as follows:


1. American Molygold. The American Molygold property is in the Cherry Mining District in Yavapai County, Arizona approximately 10 miles from Jerome. This 1,900 acre property includes the two major historic gold producing mines in the district, Monarch and Logan, as well as a probable resource of 150,000 tons and an inferred resource of 5,000,000 tons, based on work by the prior owner, Alanco. It is a Precambrian deposit in a Bradshaw Granite intrusion into Yavapai Schist, located along the Verde Fault. There is a large, partially stripped gold-bearing zone of alteration with vein lets of copper and molybdenum mineralization that has been interpreted as being the outer layer or shell of porphyry copper / moly mineralization on the eastern portion of the claims. The vein systems may warrant underground development and there is potential for an open pit low gold content target with associated moly and base metals production.

2. Rochester Molygold. The Rochester Molygold property is in the Rabbit Mining District in Madison County, Montana, approximately 30 miles from Butte and comprises approximately 2,250 acres. The project includes a majority of the former FMC Gold project, which reported an 850,000 ounce gold resource. It also includes the former US Steel moly project. This is also a Precambrian deposit with the gold found in well defined veins that strike north or northeast and dip steeply west, usually associated with granite dikes. Additionally, there are placer gold workings along Rochester Creek, and a possible method of mining would use water from dewatering the underground workings for placer mining downstream. The moly is found in a recambrian quartz monzonite stock , which is altered to a greisens -- like vuggy aggregate of muscovite, quartz, and clots and disseminated grains of pyrite and molybdenite, as well as quartz veins containing same.


ABOUT HUNT GOLD CORPORATION

Hunt Gold Corporation is a Gold Mining & Exploration Company focused on the development and exploration of its Gold properties, namely "Mockingbird," "Ambassador," "Golden Eagle," "Gladstone Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red Cloud" and "Federal." The Company has completed the sale of its "American Molygold" interests and will be distributing the entire sale proceeds through a Stock Dividend to its stockholders, this to be announced shortly.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan," or "planned," "will," or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

For further information contact:
Hunt Gold Corporation
E Mail: Email Contact
Telephone: (954) 840-6956
Contact: Mr. Michael G Saner

MonArc Corporation (MONA) Completes Peru Visit Andrea SA Gold Mine

BEIJING, Nov 21, 2008 /PRNewswire-FirstCall via COMTEX/ -- Mon Arc Corporation www.monacorporation.com PINKSHEETS: MONA.PK management representatives have completed their on-site inspection of the Andrea Gold mine operation in Peru.

While the MonArc team is still traveling they have been able to provide a top line summary of the results of their field work. The have had the opportunity to view the current operations of the mine, led by a geologist familiar with this particular gold play.

In addition, they were fully briefed on the status of the assays to date, and the progress being made to complete its form 43-101 filing, which will provide an analysis of the proven and probable reserves of the mine based on industry standard requirements.

MonArc CEO, Mr. Yong Chan advises; "Based on these initial reports, all parties are eager to finalize this acquisition. We are currently drawing up the necessary documents to complete the acquisition, and anticipate that the deal can close very shortly." Mr. Alex Diaz President of Andrea SA Mine in Peru (targeted merger company) said "We are pleased to have met the MONA management and their advisors and I'm particularly pleasantly impressed with MONA executive management and its corporate Secretary Mr. Winters. While we were approached by others for the merger and business cooperation Andrea SA and its managers feel that MONA is the best fit for all concerned."

The Company will provide additional updates as information continues to come in from the field, and expects to have the team back next Wednesday, the 26th of November.
Safe Harbour statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.

Get the Facts Right. The issuer works hard to continue to keep our shareholders informed, and news is updated frequently via Press Releases, Pink Sheet www.pinksheets.com filings, and updates to our websites. Other websites not sponsored, or recognized by the Company may provide misleading or disinformation to investors in order to manipulate trading patterns for a given stock. Always look for original content from trusted sources, rather than relying on 'excerpts' or discussion boards that may not give you the whole story. The Securities and Exchange Commission requires financial institutions or brokerage firms to provide their clients with documentation, describing the risks of investing in penny stocks.

CONTACT: For corporate matters contact: corporate@monacorporation.com
CONTACT: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)
Copyright (C) 2008 PR Newswire. 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