TORONTO, April 17, 2007 (PRIME NEWSWIRE) -- Yukon Gold Corporation, Inc. ("Yukon Gold"), (TSX:YK) (OTCBB:YGDC) announced today that it has acquired a 1,200 acre Silver-Zinc-Lead property made up of 24 claims, known as the Gram Property in the Mayo Mining District of the Yukon Territory. The property lies 5 km northeast of the Company's Mount Hinton property, 14 km east of Keno City.
The Gram Property covers two coincident lead-zinc soil geochemical anomalies that were explored by grid soil sampling and hand trenching in 1968 by United Keno Hill Mines Ltd. ("UKHM").
The first anomaly includes host rocks that are Mississippian Keno Hill quartzite, the host of the Mount Hinton gold/silver veins. UKHM located narrow galena-siderite veins and breccias by hand trenching in the apparent source area of the anomaly. Grab samples of the vein material assayed 446 g/t Ag and 7.7% Pb; and 446 g/t Ag and 0.2% Pb.
A second anomaly lies about 2 km to the north of the first anomaly. Here, strong coincident lead (50 to greater than 500 ppm) and zinc (100 to greater than 600 ppm) soil geochemical response occurs in a linear 1500 m long anomaly that parallels bedding in the underlying Upper Devonian to Mississippian Earn Group metavolcanic and metasedimentary rocks. This is the same unit that hosts the Marg Deposit, 25 km along strike to the NNE. These anomalies will be explored by Yukon Gold for Cu-Pb-Zn-Ag-Au VMS mineralization which is very similar to the Company's 100% owned Marg Deposit.
The Qualified Person who provided the geological description and researched the results of previous work and who has reviewed this press release is R. C. Carne, P. Geo. an independent consultant.
About Yukon Gold
Yukon Gold Corporation, Inc. is an active and progressive public exploration and development company. The Company's main focus is its recently acquired VMS deposit (Marg Property) and its Mount Hinton gold and silver exploration project in the Central Yukon Territory of Canada. These properties lie within the Tombstone Gold Belt, world renowned for the discovery of major gold, silver and base metal deposits. Currently, there are approximately 19.4 million of the Company's common shares outstanding.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.