Mr. Richard Moritz reports

RESOURCE ESTIMATE AT KETZA RIVER TO SUPPORT IMMINENT YESAB APPLICATION

Yukon-Nevada Gold Corp. has provided an updated resource estimate for its wholly owned Ketza River property in the Yukon Territory. The updated resource estimate has been carried out to support the imminent Yukon Environmental and Socio-Economic Assessment Board (YESAB) application which contains the mining plan for the estimated gold resource at Ketza River. This new resource includes all of the assay and drill results from the 2008 drill program which took until Jan. 25, 2010, to receive.

The estimate is based on a $1,150 (U.S.) per troy ounce gold price and consists of a measured resource of 29,000 ounces at a grade of 5.38 grams per tonne (g/t) and an indicated resource of 388,700 ounces at a grade of 5.46 g/t. There is an additional inferred resource of 67,300 ounces at a grade of 4.62 g/t. These estimates are tabulated by area in the associated tables; the map showing their locations can be accessed on the company's website.

                        KETZA RIVER MEASURED AND INDICATED MINERAL RESOURCES

                                     Measured                        Indicated         Measured and indicated
Area                      Kt Au (g/t)     Koz          Kt   Au (g/t)       Koz         Kt   Au (g/t)      Koz

Pit resources (oxide ore cut-off grade is 0.78 g/t, and sulphide ore cut-off is 1.00 g/t)
Peel                    85.2     5.76    15.8     1,053.4       6.22     210.6    1,138.6       6.19    226.4
Penguin                 14.0     1.88     0.8       233.6       2.89      21.7      247.6       2.84     22.6
Lab-Hoodoo               9.4     6.92     2.1       243.2       5.20      40.6      252.6       5.26     42.7
Tarn                    11.4     4.73     1.7        79.3       3.88       9.9       90.7       3.99     11.6
Gully                    7.0     5.60     1.3        45.1       3.57       5.2       52.1       3.85      6.4
QB                      23.4     4.55     3.4       298.0       3.21      30.8      321.4       3.31     34.2
Knoll                   11.1     6.66     2.4         2.9       4.54       0.4       14.0       6.22      2.8
Subtotal               161.5     5.30    27.5     1,955.4       5.08     319.3    2,116.9       5.09    346.8

Underground resources (oxide ore cut-off grade is 3.44 g/t; sulphide ore cut-off is 4.43 g/t)
Peel                     3.7     8.41     1.0       204.6       8.83      58.1      208.3       8.82     59.1
Penguin                  0.0     0.00     0.0         0.0       0.00      0.00        0.0       0.00      0.0
Lab-Hoodoo               0.0     0.00     0.0        22.1       6.90       4.9       22.1       6.90      4.9
Tarn                     0.0     0.00     0.0         0.0       0.00       0.0        0.0       0.00      0.0
Gully                    2.1     7.41     0.5        14.7       8.04       3.8       16.9       7.91      4.3
QB                       0.4     3.81     0.0        15.5       5.22       2.6       15.9       5.09      2.6
Knoll                    0.0     0.00     0.0         0.0       0.00       0.0        0.0       0.00      0.0
Subtotal                 6.3     7.39     1.5       256.9       8.40      69.4      263.2       8.38     70.9

Combined open-pit and underground (variable cut-off grades) 
Peel                    88.9     5.87    16.8     1,258.0       6.64     268.7    1,346.9       6.59    285.5
Penguin                 14.0     1.88     0.8       233.6       2.89      21.7      247.6       2.84     22.6
Lab-Hoodoo               9.4     6.92     2.1       265.3       5.34      45.5      274.7       5.39     47.6
Tarn                    11.4     4.73     1.7        79.3       3.88       9.9       90.7       3.99     11.6
Gully                    9.1     6.01     1.8        59.8       4.67       9.0       69.0       4.84     10.7
QB                      23.8     4.47     3.4       313.5       3.31      33.4      337.3       3.39     36.8
Knoll                   11.1     6.66     2.4         2.9       4.54       0.4       14.0       6.22      2.8
Total all sources      167.8     5.38    29.0     2,212.3       5.46     388.7    2,380.1       5.46    417.7

 
Notes:
The measured and indicated resources include all Redox types including
oxide, sulphide and mixed oxide plus sulphide.
The cut-off grade for oxide and sulphide ore material inside the optimized
open pit is 0.78 g/t and one g/t, respectively, and for material that
is potentially minable by underground methods outside of the optimized
open pits is 3.44 g/t and 4.43 g/t, respectively.
Au price used for this resource is $1,150 (U.S.) per troy ounce.
Assumed 1,500-tonne-ore-per-day mill feed.
A Lerchs-Grossman pit optimization has been used to differentiate
potential open-pit resources from potential underground resources using
mining costs, Au cut-off grades and other parameters listed below.
Mining cost per tonne is $3 open pit and $80 underground; processing
cost per tonne ore is $26; specific gravity is variable as modelled per
block; 18.4:1 (waste to ore) average strip ratio for all resources.
All areas have been updated using new models.
Resources calculated using additional drill holes completed in 2008,
and historic mining depletions (underground as built from Canamax
mining data).

         KETZA RIVER INFERRED RESOURCES

                                      Inferred     
Area                      Kt  g/t Au       Koz

Open-pit resources
Peel                   195.2    5.30      33.2
Penguin                 44.0    2.49       3.5
Lab-Hoodoo              37.5    4.38       5.3
Tarn                     3.2    3.50       0.4
Gully                   15.9    3.46       1.8
QB                     113.5    3.80      13.9
Knoll                    0.0    0.00       0.0
Subtotal               409.4    4.41      58.0

Underground resources
Peel                    24.2    6.55       5.1
Penguin                  0.0    0.00       0.0
Lab-Hoodoo              10.1    5.54       1.8
Tarn                     0.0    0.00       0.0
Gully                    5.6    8.89       1.6
QB                       4.4    5.66       0.8
Knoll                    0.0    0.00       0.0
Subtotal                44.3    6.56       9.3
Total all sources      453.7    4.62      67.3

The new resource estimate includes the primary work areas (Peel, Lab-Hoodoo, Penguin, Tarn, QB, Gully and Knoll) and a new 3-D geological model that includes assay results from an additional 225 drill holes that were drilled from Jan. 1, 2008, to Dec. 31, 2008. Relative to the last National Instrument 43-101 report by SRK (2008), the new resource has been done using a higher gold price of $1,150 (U.S.). The new resource reflects more realistic construction of the 0.5 g/t Au grade shells used to constrain the estimation process, a higher-quality drill hole database, more and better specific gravity assignments to the various ore types, and as a consequence more realistic mining and milling parameters and costs.

In addition, 41 per cent of the contained measured and indicated (M&I) resource ounces listed in the associated table are hosted in oxide ores, whereas the other 59 per cent of the contained M&I ounces are hosted in sulphide and/or mixed oxide plus sulphide ores. This is important as recent metallurgical testwork indicates that gold recovery from oxide ores at 90 per cent is higher than that for sulphide ores at 70 per cent. The details of the oxide and sulphide resources will be described further in the National Instrument 43-101 report that will be available and released in late June, 2011.

Importantly, the new resource estimate does not include any of the 130 drill holes completed in 2009 and 2010. The 2010 drilling identified additional Au mineralization near the existing planned pits including the Peel (Break), Gully and Lab-Hoodoo zones and in other areas such as the Bluff zone. In addition, numerous exploration targets and resource extensions remain to be drill tested throughout the project.

The updated resource estimate has been used to delineate the mining plan for use in the project description report being organized by EBA, a Tetratech company, which is expected to be submitted to YESAB in August, 2011.

The year-end 2008 Ketza River resources were calculated by Mark Odell, a consulting professional engineer (PE), and Karl Swanson (MAusIMM, SME), mining engineer consultant, under the supervision of Todd Johnson (PE), vice-president of exploration for YNG. These individuals are qualified persons as defined by National Instrument 43-101. YNG is currently preparing an updated National Instrument 43-101 technical report which will include these results.

The mineral resources have been estimated in accordance with the standards adopted by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) council in August, 2000, as amended, and prescribed by the Canadian securities administrators' National Instrument 43-101 -- standards of disclosure for mineral projects. The resources were classified according to: geological confidence, number of drill holes, number of drill hole samples and a specific search distance. A $1,300 (U.S.) per troy ounce gold price, used as an upside sensitivity case, can be accessed at the company's website.

Mr. Johnson, vice-president of exploration for YNG, is YNG's qualified person as defined under National Instrument 43-101. He has supervised the preparation of the technical information and has reviewed and approved the contents of this news release. Yukon-Nevada Gold will file on SEDAR a National Instrument 43-101-compliant technical report entitled Ketza River project, Yukon-Nevada Gold Corp., NI 43-101 technical report, Yukon Territory, Canada, dated June, 2011, encompassing the mineral resource discussed herein.

We seek Safe Harbor.