Veris Gold Corp. (VG)

[basserdan]

29.6 meters Averaging 19.61 grams/tonne Au, Including 5.1 meters Averaging 45.60 grams/tonne Au in Drilling at Jerritt Canyon, Nevada

Friday February 25, 2011, 6:30 am

VANCOUVER, Feb. 25 /CNW/ - Yukon-Nevada Gold Corp. (Toronto:YNG.TO) (OTC:YNGFF) (Frankfurt Xetra Exchange: NG6) is pleased to announce additional assay results from its ongoing 2010 and 2011 Smith Mine underground drilling program at its wholly-owned gold production Jerritt Canyon property in Nevada, USA. Jerritt Canyon is operated by Queenstake Resources USA Ltd., ("Queenstake") a wholly owned subsidiary of Yukon-Nevada Gold Corp. ("YNG" or the "Company").

Significant assay results from multiple separate zones for drill hole numbers SMI-LX-758 and SMI-LX-759 have been received as of February 23, 2011 (see Table 1). These are resource conversion drill holes that were drilled from the same underground drill station in Zone 2 of the mine. This drill program is testing favorable ore controlling structures proximal to the existing underground workings and is also intended to expand and convert existing resources outlined in the most recent NI 43-101 report published in 2008.

Table 1. Significant Assay Results from Drill Holes SMI-LX-758 and SMI-LX-759 in Smith Mine.

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