Mr. Richard Moritz reports

YUKON-NEVADA GOLD CORP APPOINTS GENERAL MANAGER AT JERRITT CANYON

Yukon-Nevada Gold Corp. has appointed Guy Simpson as the general manager at the Jerritt Canyon property in Nevada. Mr. Simpson brings a wealth of knowledge to Jerritt Canyon through 20 years of international gold mining experience, 14 of which involved working for producing mining companies in Australia and Africa. Jerritt Canyon is a gold producing property located near Elko, Nev., operated by Queenstake Resources Ltd., a wholly owned subsidiary of Yukon-Nevada Gold.

Mr. Simpson is a mining engineer who has recently been responsible for the development of a large sulphide ore gold mine utilizing a large operating roaster in West Africa. He began his career as an underground mine labourer and then a mining engineer after graduating from the Western Australian School of Mines (Kalgoorlie) with a bachelor of science -- mining engineering.

Mr. Simpson has worked for Resolute Mining Ltd., Rapallo Pty. Ltd., Harmony Australia and Newcrest Mining Ltd. He has considerable experience in mine management, mine development and feasibility of open-pit and underground mining operations, including detailed financial evaluation, pit design, underground design and infrastructure requirements. Utilizing his business development expertise he will undertake physical and financial evaluation of the underground mining projects at Jerritt Canyon and provide recommendations for potential project acquisitions/mergers. He will have the responsibility for managing the conversion of the considerable gold resources at Jerritt Canyon into reserves. Mr. Simpson will be reporting directly to the chief operating officer, Graham Dickson.

Mr. Simpson's main focus will be improving the sustainability of operations at Jerritt Canyon, ensuring that the steady state of 150,000-ounce-per-year gold production will provide a firm platform ahead of the next phase of increasing this production. Mr. Simpson's hiring is another example of the company gradually strengthening and deepening its management team.