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Last updated on April 19, 2014 at 13:20 EDT

ADDITIONAL AU ASSAY RESULTS FROM THE PEEL AND HOODOO ZONES, KETZA RIVER PROJECT

November 22, 2010

VANCOUVER, Nov. 22 /PRNewswire/ – Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra
Exchange: NG6)
is pleased to announce further excellent results from its ongoing 2010
drilling program at Ketza River. The Ketza River property is wholly
owned by Yukon-Nevada Gold Corp., and it is a past gold producer
located near the town of Ross River in the Yukon Territory, Canada.

The recently received assay results are mostly from the Hoodoo, Break,
and B-Mag Zones at the Ketza River Project, which are manto-style
(limestone replacement) resources. Results also came in for one drill
hole from the Connector Zone in the Shamrock part of the project, which
are mostly veins and stockwork resources. All drill holes referenced in
this news release are diamond drill holes completed by one drill rig
between May 6, 2010 and July 11, 2010 and for which assays were
recently received.

Hoodoo Zone

The Hoodoo Zone oxide mineralization target lies proximal to a major
northwest-striking fault zone which controls mineralization in the
Lab-Calcite Zone. This current phase of drilling was located near the
top of the ridge, in what is planned to be the high wall of the
Lab-Hoodoo open pit (see Drill Hole Plan Map Figure which can be found
on our website here: http://www.yukon-nevadagold.com/i/pdf/2010HoodooMap.pdf).

Table 1 below lists the 2010 significant drill hole intercepts from the
Hoodoo Zone. The highlight of this phase of drilling was drill hole
KR-10-1532 which contained two intercepts: 9.14 meters grading 37.37
g/t Au starting from 57.0 and continuing to 66.14 m, and another
containing 4.28 meters assaying 2.95 g/t Au from 25.29 to 29.57m. This
drill hole was drilled approximately perpendicular to drill hole
KR-08-1455, which also intersected similarly strong gold
mineralization. In addition, drill hole KR-10-1535 located
approximately 20 meters to the west, intercepted 2.30 meters grading
17.60 g/t Au. Cross sections suggest that these intersections are
approximately true thickness.

Table 1
Summary of Significant Intercepts from the Hoodoo Zone*
(Proposed Lab-Hoodoo open pit)

Drill hole Number From (m) To (m) Thickness (m) Grade g/t Au
KR-10-1529 17.29 17.85 0.56 1.95
44.62 45.70 1.08 1.64
68.03 69.36 1.33 8.37
KR-10-1530 20.42 21.94 1.52 2.04
30.21 30.74 0.53 1.74
KR-10-1532 25.29 29.57 4.28 2.95
57.00 66.14 9.14 37.37
KR-10-1533 24.05 25.45 1.40 2.07
53.43 53.95 0.52 2.22
57.00 57.55 0.55 1.70
KR-10-1535 53.45 55.75 2.30 17.60
60.05 62.82 2.77 1.37
KR-10-1536 41.33 42.60 1.27 1.12
KR-10-1537 49.28 50.71 1.43 15.64
69.41 69.87 0.46 1.52
*Notes: (1) True thickness is not determined.
  (2) Drill hole numbers KR-10-1531 and KR-10-1534 from the Hoodoo Zone
returned no
  significant intersections.

Break Zone

The Break Zone is a historic open-pit mined in the late 1980′s by
Canamax Resources located in the northeast corner of the proposed Peel
open pit. A series of 2010 drill holes were completed within the
existing resource in the Break Zone (see Drill Hole Plan Map Figure
which can be found on our website here: http://www.yukon-nevadagold.com/i/pdf/KetzaExlorMap2010.pdf) and tested sulfide manto-style targets that lie stratigraphically
below the existing oxide resources.

Table 2 below lists significant drill hole intercepts from oxide
materials in the Break Zone that were recently received. Drill hole
KR-10-1499 from this zone returned two intercepts: 2.36 meters
averaging 13.90 g/t Au, and 5.78 meters that averaged 3.46 g/t Au.

Table 2
Summary of Significant Intercepts from the Break Zone*
(Proposed Peel open pit)

Drill hole Number From (m) To (m) Thickness (m) Grade g/t Au
KR-10-1499 79.02 81.38 2.36 13.90
108.56 114.34 5.78 3.46
KR-10-1502 71.80 82.14 10.34 2.60
87.66 89.87 2.21 2.44
*Notes: (1) True thickness is not determined.
  (2) Other drill holes from this zone were reported on September 16,
2010.

 B-Mag Zone

The B-Mag Zone is an individual northwest-trending mineralized zone
located on the east side of the proposed Peel open pit. A further
series of 2010 drill holes were completed on the southeastern margin of
this existing resource (see Drill Hole Plan Map Figure which can be
found on our website).

Table 3 below lists significant drill hole intercepts in the B-Mag Zone
that were recently received. Drill hole KR-10-1520 intercepted 9.42
meters averaging 7.06 g/t Au starting at 3.0 meters. The recent
drilling in the B-Mag Zone was successful in extending gold
mineralization by 15 to 33 meters laterally to the southeast of the
existing resource.

Table 3
Summary of Significant Intercepts from the B-Mag Zone*
(Proposed Peel open pit).

Drill hole Number From (m) To (m) Thickness (m) Grade g/t Au
KR-10-1513 25.27 31.53 6.26 1.85
KR-10-1518 5.59 6.09 0.50 15.30
7.63 11.70 4.07 2.43
23.47 26.52 3.05 1.71
KR-10-1520 3.05 12.47 9.42 7.06
*Notes: (1) True thickness is not determined.
  (2) Other drill holes from this zone were reported on September 16,
2010.

Connector Zone

The Connector Target is a combination magnetic, gravity and gold-in-soil
anomaly, lying upslope from the Gully resource in the Shamrock Zone.
See the Connector Target plan map figure on the YNG website here: http://www.yukon-nevadagold.com/i/pdf/KetzaConnectorMap2010.pdf. This target trends nearly east-west and lies at a high angle to the
well defined Gully (vein) resource. One last drill hole was recently
received, and is presented in Table 4 below. The rest of the drill
holes were reported on October 26, 2010.

Table 4
Summary of Significant Intercepts from the Connector Zone*
(Proposed Gully open pit).

Drill hole Number From (m) To (m) Thickness (m) Grade g/t Au
KR-10-1494 20.82 21.29 0.47 1.57
140.06 140.54 0.48 7.11
*Notes: (1) True thickness is not determined.
  (2) Other drill holes from this zone were reported on October 26, 2010.

None of these recent drill intercepts from the Hoodoo, B-Mag, Break, and
Connector Zones were included in the data used for the NI 43-101
resource estimate released on April 14, 2008 and therefore are likely
to lead to an increase in the resource at the Ketza River project. A
complete table of updated results for the 2009-2010 drilling program
can be found on our website: http://www.yukon-nevadagold.com/i/pdf/KetzaDrillResults09_10-2.pdf

All of the assays were analyzed at ALS Laboratory Group in North
Vancouver
. The documentation of the quality control and quality
assurance protocols are described in the NI-43-101 document described
above and can be found on our website here: http://www.yukon-nevadagold.com/s/KetzaManto.asp?ReportID=296836

This news release was compiled and written by the Chief Geologist for
the Ketza River project, Ed Gates (M.Sc., P.Geo). It was also reviewed
and approved by Todd Johnson (M. Sc.), Vice President of Exploration
for Yukon-Nevada Gold Corp.  Todd Johnson is the Qualified Person for
the purpose of this release.

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.


Source: newswire