VERIS GOLD CORP. (Formerly, YUKON-NEVADA GOLD CORP.) Management Discussion and Analysis For the three and six month period ending June 30, 2013 SECOND QUARTER HIGHLIGHTS
1. During the second quarter of 2013 (“Q2-2013”) the Jerritt Canyon Mill produced 38,018 payable ounces
representing a 51% increase from the 25,249 ounces produced in the second quarter of the prior year (“Q2-
2012”). The payable ounces produced in Q2-2013 was also 25% more than the 30,461 ounces produced in
previous quarter (“Q1-2013”), due to increased throughput and the second quarter not being hampered by
the heavy snow fall and down time required to reinforce ore dryer lifters experienced in the first quarter.
2. Starvation Canyon development was completed in early April, 2013 and during the quarter ramped up to
targeted mine production levels by June. Starvation Canyon delivered 47,390 tons of ore during quarter
containing an estimated 8,630 ounces of gold.
3. The Company signed a second toll milling agreement with Klondex to mill their non-refractory ore from their
Fire Creek property, located approximately 120 miles from Jerritt Canyon. Deliveries from this property are
expected late in the third quarter and the Company is evaluating the use of the existing wet milling circuit to
process this ore. As well, a total of 8,152 tons of ore were processed from Pinson under the toll milling
agreement with ATNA Resources and, Jerritt Canyon also completed a test batch of 4,763 tons for
Newmont USA Ltd, which combined led to total toll milling revenues of $1.7 million. Subsequent to quarter
end Newmont signed a longer term toll milling agreement to process up to 45,000 tons per month of ore.
4. The Company recorded net income of $9.4 million in the second quarter of 2013 which compares to a net
loss of $8.3 million in the second quarter of 2012. The recent quarter’s net income is largely attributable to
income from mine operations of $3.1 million in Q2-2013 compared to the $5.8 million loss incurred in Q2-
2012; as well as $12.2 million in non-cash derivative gains recognized in Q2-2013 compared to $0.6