Intention To Phase Out Custom Milling At Jerritt Canyon

VANCOUVER, BC - Yukon-Nevada Gold Corp. Graham C. Dickson, the President of Yukon-Nevada Gold Corp. reported that the Company has decided to phase out custom milling at the Jerritt canyon operation over the next several years.
Dickson commented, "The short term results of custom milling, the lowering of unit costs, have proved beneficial to the Company's bottom line, however in the opinion of management the longer term effects will be detrimental.
The fact that we were able to make $9.63M in the final six months of 2007 from mining operations at Jerritt Canyon confirmed our decision to purchase this strategic asset when it became available. We were expecting to find that the milling and mining facilities were not to a standard that met with our corporate standards with regard to safety and the environment, and in this we were not surprised.
In the first quarter, during the extended shutdown for safety and environmental improvements, the Company has made significant improvements to the milling and mining facilities, which are now on par with similar facilities. The Company will now focus on increasing mill feed from its own mines, increasing safety, improving front line supervision and modernisation as methods of reducing costs."
The company's address is 490-688 West Hastings Street, Vancouver BC V6B 1P1, 604.688.9427, fax: 604.688.9426, email: [email protected].