Yukon Nevada Gold Corp T.YNG

WebBroker Alert===NEWS

[arthur7440]

WebBroker Alert

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Yukon-Nevada Gold Corp. signs ore treatment agreement with Gold Hill Reclamation and Mining Corporation

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VANCOUVER, Dec. 15 /CNW/ - Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) is pleased to announce that it has come to a favorable agreement with Gold Hill Reclamation and Mining Corporation ("GHRMC") to treat abandoned ore dumps from its Gold Hill property located in Boise County, Idaho at the Jerritt Canyon milling facility 50 miles from Elko, Nevada. Jerritt Canyon is operated by Queenstake Resources USA Ltd., ("Queenstake") a wholly owned subsidiary of Yukon-Nevada Gold Corp. ("YNG" or the "Company").


GHRMC has commenced the haulage of an average 800 tons of ore per day from its property in Idaho to Jerritt Canyon, Nevada where Queenstake will immediately commence treatment of the ore. Queenstake has agreed to process an average of 800 tons of ore per day at a price of USD $88 per wet ton.


This agreement to treat GHRMC ore furthers the company's stated plan of processing custom ores through its Elko facility while it ramps up production from its own mines. The Smith mine is presently being rehabilitated and is expected to produce ore for the milling facility at the beginning of January. The Smith mine is being operated by Small Mine Development, LLC as per the news release dated December 3, 2009.


Production of gold from custom milled ores, from previously stockpiled ores and from ores mined from the Smith mine, and later next year from the SSX mine, will enable the Jerritt Canyon facility to be more fully utilized and allow Queenstake to target ever higher gold production.





Yukon-Nevada Gold Corp. is a North American gold producer in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Arizona and Nevada in the United States. The Company's focus has been on the acquisition and development of late stage development and operating properties with gold as the primary target. Continued growth will occur by increasing or initiating production from the Company's existing properties.





If you would like to receive press releases via email please contact [e-mail] 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.





This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.






%SEDAR: 00004098E



For further information: Yukon-Nevada Gold Corp., Nicole Sanches, Investor Relations Manager, Tel: [phone] ext 224, Email: [e-mail], www.yukon-nevadagold.com; CHF Investor Relations, Jeanny So, Director of Operations, Tel: [phone] ext. 225, Email: [e-mail], www.chfir.com

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[aristoenigma]

800 tons a day is  $70,400.00 a day extra revenue. Keep em coming. Fill that hungry environmentally sound mill.

[romara]

aristo......further to what has been said...let's look pass the daily amount, and do it on a quarter....that adds $6,336,000 to the bottom line per quarterly report .....looks good......nice little pop today....seems like the market is a head of the NR............Richard

[HardRockMiner3]

Aren't there any costs involved in milling this ore?  Or do you just get $6,336,000 and forget about stuff like payroll & bills.  And the news release left out the part where how long these old dumps will last, like will they be cleaned up in 2 weeks or months or years.  If I were you guys, I'd want that kind of info before getting too excited.

[romara]

HRM....no one said it was profit....that's income...cash flow....it all helps to pay the bills....the bottom line will tell after all the back pay, medical expenses and suppliers are paid......Richard

[aristoenigma]

Hi there Richard. You are right on. Top line revenue and cash flow are keys for the time being. Profit and positive net income will come in time. More of those custom milling jobs will be great.additions to YNG's own ore and expansion plans. Hardrock I hope you are paid real soon. Merry Christmas everyone.

[caddo]

Just  a reminder, Queenstake had cash flow. Yet they were losing money month after month. Always needed new funding. That's how Lord Dicky got the property. Has anything changed ?caddo