Yukon-Nevada Re-Opens Smith Mine 

VANCOUVER, BC - Yukon-Nevada Gold Corp. reported that for the first time since the second quarter of 2008, the Company re-opened the Smith Mine using a contract mining company, Small Mine Developers ("SMD"), early in the first quarter of 2010. The Company continues to pursue financing for the reopening of the SSX/Steer mine in early 2011 and will seek permitting for Starvation Canyon, also located at Jerritt Canyon, anticipated to be brought into production in 2011 as well.

The Jerritt Canyon Mine produced 9,258 ounces from stockpiles and mining operations in the three months ended March 31, 2010. President and CEO Robert Baldock advised, "The Company has recently re-started the mill after the scheduled maintenance shut down early in May, and has announced exciting independent stack test results. The mill overhaul investment and new environmental technology installation will shortly enable the company to reach its objective of steady state production. This is expected to be announced in July 2010, demonstrating that the company is through its previous financial and production difficulties. Reopening of the Smith mine early in 2010 and the coming re-opening of the SSX-Steer mine complex will add to the production profile the company has been working toward." From the recommenced mining operations at Smith mine, the Company received a total of 18,786 tons from SMD containing 4,200 ounces. The Company began processing the ore in late February, and has processed a total of 10,350 tons to date. The mill operated throughout the quarter, but lost $3.3 million as the Company worked through operational issues and stack testing limitations that reduced the overall tonnage. This was offset by the absence of shut down costs of $2.5 million recorded in the first quarter of 2009 as the mine was shut down during that period. Exploration work continues at Ketza River in the Yukon Territory, Canada. Most of the drill holes were targeted to expand the margins of known mineralized zones and to explore new targets. Five of the reported drill holes were drilled within the known resource areas, using similar drill hole assay quality assurance and quality control procedures as the other exploratory drill holes, to acquire mineralized rock for metallurgical test work. Subsequent to the quarter end March 31, 2010 the Company closed a C$10,000,000 flow-through financing to fund further exploration work at Ketza River. The company's address is 490-688 West Hastings Street, Vancouver BC V6B 1P1, 604.688.9427, fax: 604.688.9426, email: [email protected].