PLAN OF ARRANGEMENT WITH QUEENSTAKE BECOMES EFFECTIVE
Vancouver, BC -- June 21, 2007 -
YGC Resources Ltd.
(Toronto Stock Exchange: YGC; Frankfurt Xetra Exchange: ZH6) --
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: email@example.com 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