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PLAN OF ARRANGEMENT WITH QUEENSTAKE BECOMES EFFECTIVE

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NYBob Member Level  Monday, 06/25/07 10:05:18 PM
Re: PENNYPRINCE 1 post# 138
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PLAN OF ARRANGEMENT WITH QUEENSTAKE BECOMES EFFECTIVE
Vancouver, BC -- June 21, 2007 -

YGC Resources Ltd.
(Toronto Stock Exchange: YGC; Frankfurt Xetra Exchange: ZH6) --
Graham Dickson,
the President of Yukon-Nevada Gold Corp.
(formerly named YGC Resources Ltd. (the "Company")),
is pleased to announce that the Plan of Arrangement with Queenstake Resources Ltd.
("Queenstake") became effective
at 12:01 a.m., June 20, 2007.

As announced in the Company's releases dated May 30, 2007
and June 12, 2007, gross proceeds of $64.7 million
were closed into escrow from a brokered private placement
co-led by Pacific International Securities Inc.
and Casimir Capital LP, and including Blackmont Capital Inc.
and Wellington West Capital Markets Inc. as agents.
An additional $11.5 million was closed into escrow
from a non-brokered private placement.
As a result of the Plan of Arrangement becoming effective,
the Company will be receiving the net proceeds from the
$76.2 million gross proceeds held in escrowed.

Subject to filing of all requisite material with
the Toronto Stock Exchange ("TSX"), the shares of
Queenstake will be de-listed,
and the shares of the Company will be called for trading
under the symbol "YNG" on a day determined by the TSX.

Shareholders of Queenstake
will be receiving a Letter of Transmittal setting out
the procedure to be followed in order for them to exchange
their certificates representing Queenstake Shares
for certificates representing shares of
Yukon-Nevada Gold Corp.

The Company will issue a comprehensive news release
summarizing the business of the company soon
after trading commences.

YGC Resources Ltd.

Graham Dickson, President
Tel: (604) 688-9427
Email: graham@ygcr.ca
http://www.ygcr.ca

http://www.yukon-nevadagold.com/s/News.asp

http://www.investorshub.com/boards/board.asp?board_id=9633

http://siliconinvestor.advfn.com/subject.aspx?subjectid=57187




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