Yukon-Nevada Gold Corp. settles with AIG

"In my opinion, the lawsuit was the result of a breakdown in communication between Queenstake Resources Ltd. and AIG at the time of construction," said Graham Dickson, the Company's President and Chief Executive Officer. "We are pleased that the goodwill exhibited by both sides has enabled us to reach a settlement. We look forward to a relationship with AIG that will continue to be based upon mutual respect and sound business practices," he further added.

The Company has recently topped up its reclamation funding to meet the latest requirements from the Nevada Division of Environmental Protection. Planning for a new tailings facility is well underway, and its construction will not only allow for the extended mine life now being projected, but will also allow for easier reclamation of the present tailings facility.

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 theYukon Territory andBritish Columbia inCanada and inArizona andNevada inthe United States. The Company's focus has been on the development of its late stage development and operating properties. Near term 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 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities inthe 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 withinthe 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.

SOURCE Yukon-Nevada Gold Corp.

Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze, Daily News

Tags: ,MNG,Yukon-Nevada-Gold-

   _   _

           

Is your favorite bookmark site missing? Ask for it.