Yukon-Nevada Gold Corp. Appoints New Director

VANCOUVER, May 10, 2012 /PRNewswire/ – Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) (“YNG” or the “Company”) is pleased to announce that it has appointed
Shaun Heinrichs as a director of the Company. Mr. Heinrichs also
currently holds the position of Chief Financial Officer of the Company.

Mr. Heinrichs has over fourteen years of financial accounting
experience, beginning with seven years of public practice experience
with Ernst & Young in Vancouver. His primary role at Ernst & Young was
as a lead assurance or advisory manager on several large US and
Canadian public companies within the BC region. He subsequently held
senior management roles in several large public companies as well as a
large BC utility prior to joining Yukon-Nevada Gold Corp. Mr. Heinrichs
became the Chief Financial Officer of YNG in November 2008 and has
acted in that role since that time. Mr. Heinrichs holds a business
degree from Simon Fraser University and is both a Chartered Accountant
in Canada and a Certified Public Accountant in the United States.

Yukon-Nevada Gold Corp. is a North American gold producer 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
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.

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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.