RE: YNG partially hedges its productionInaccurate reproduction there factsfinder. It said partial hedging.
VANCOUVER, Jul 31, 2008 (Canada NewsWire via COMTEX News Network) --
Yukon-NevadaGold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6)is pleased to announce that it has engaged the Commodities and ResourceFinance Division of Investec Bank (UK) Limited ("Investec") to arrangeproject finance and hedging facilities for the expansion of theCompany's Jerritt Canyon Mine in Nevada.
The facilities are comprised of a term loan of US$40 million and a partial gold hedging program for the term of the loan.
Investec'sunderwriting commitment is subject to a number of conditions precedent,including completion of due diligence and documentation and Investec'sfinal internal approvals.
Investec has the exclusive right toarrange and underwrite the facilities until September 30, 2008, but theparties will use their best efforts to complete the arrangements byAugust 31, 2008.
Yukon-Nevada Gold Corp. is a North Americangold producer in the business of discovering, developing and operatinggold deposits. The Company holds a diverse portfolio of gold, silver,zinc and copper properties in the Yukon Territory and British Columbiain Canada and in Arizona and Nevada in the United States. The Company'sfocus has been on the acquisition and development of late stagedevelopment and operating properties with gold as the primary target.Continued growth will occur by increasing or initiating production fromthe Company's existing properties.
If you would like to receivepress releases via email please contact nicole@yngc.ca and specify"Yukon-Nevada Gold Corp. releases" in the subject line.
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.
Thisnews release does not constitute an offer to sell or a solicitation ofan offer to buy any of the securities in the United States. Thesecurities have not been and will not be registered under the UnitedStates Securities Act of 1933, as amended (the "U.S. Securities Act")or any state securities laws and may not be offered or sold within theUnited States or to U.S. Persons unless registered under the U.S.Securities Act and applicable state securities laws or an exemptionfrom such registration is available.