Canadian and Chinese Company to Establish New Group to Explore and Develop Resources in the Yukon

Vancouver-based gold producer Yukon-Nevada Gold Corp. (YNG) and Northwest Non-Ferrous International Investment Company Limited (NWI), a Chinese investment company 100% owned by Northwest Geological Exploration and Mining Bureau for Non-Ferrous Metals of China, have signed an agreement to form a new Canadian company which will explore for and develop mineral resources in the Yukon Territory. The new company will, subject to governmental approvals, be named Yukon-Shaanxi Gold Company Inc., and each company will own 50%. Yukon-Nevada Gold has a portfolio of gold, silver, zinc and copper properties in the Yukon, BC, Arizona and Nevada.