Yukon-Nevada Gold Corp. Robert Baldock, the President of Yukon-Nevada Gold Corp., announces that the Company has closed its $4,105,000 non-brokered private placement for at total of 41,050,000 units at a price of $0.10 per Unit. As reported in a previous news release dated August 10, 2009, the first tranche closed on August 7, 2009 representing new Capital of $1,882,972 for which the Company issued 18,829,720 units.

Each Unit will consist of one common share and one share purchase warrant. The Warrant can be exercised to purchase one additional common share at a price of $0.125 per share within 30 months of closing of the private placement.

In accordance with securities legislation currently in effect, the Shares, the Warrants and the Warrant Shares will be subject to “hold period” of four months plus one day from the date of issuance of the aforesaid securities expiring on December 29, 2009.

The proceeds of the private placement transaction will be used for the resumption of milling at the Company’s Jerritt Canyon Mine, Nevada and for working capital.

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