Mr. Richard Moritz reports

ADDITIONAL AU ASSAY RESULTS FROM THE PEEL AND HOODOO ZONES, KETZA RIVER PROJECT

Yukon-Nevada Gold Corp. has provided further excellent results from its continuing 2010 drilling program at Ketza River. The Ketza River property is wholly owned by Yukon-Nevada Gold and it is a past gold producer located near the town of Ross River in the Yukon territory, Canada.

The recently received assay results are mostly from the Hoodoo, Break and B-Mag zones at the Ketza River project, which are manto-style (limestone replacement) resources. Results also came in for one drill hole from the Connector zone in the Shamrock part of the project, which are mostly veins and stockwork resources. All drill holes referenced in this news release are diamond drill holes completed by one drill rig between May 6, 2010, and July 11, 2010, and for which assays were recently received.

Hoodoo zone

The Hoodoo zone oxide mineralization target lies proximal to a major northwest-striking fault zone which controls mineralization in the Lab-Calcite zone. This current phase of drilling was located near the top of the ridge, in what is planned to be the high wall of the Lab-Hoodoo open pit (see drill hole plan map figure which can be found on the company's website).

The "Summary of significant intercepts from the Hoodoo zone* (proposed Lab-Hoodoo open pit)" table lists the 2010 significant drill hole intercepts from the Hoodoo zone. The highlight of this phase of drilling was drill hole KR-10-1532 which contained two intercepts: 9.14 metres grading 37.37 grams per tonne (g/t) Au starting from 57.0 and continuing to 66.14 m, and another containing 4.28 metres assaying 2.95 g/t Au from 25.29 to 29.57 m. This drill hole was drilled approximately perpendicular to drill hole KR-08-1455, which also intersected similarly strong gold mineralization. In addition, drill hole KR-10-1535 located approximately 20 metres to the west, intercepted 2.30 metres grading 17.60 g/t Au. Cross-sections suggest that these intersections are approximately true thickness.

SUMMARY OF SIGNIFICANT INTERCEPTS FROM THE HOODOO ZONE*
            (PROPOSED LAB-HOODOO OPEN PIT)

                                Thick-      Grade
  Drill         From    To       ness        Au
hole No.          m     m         m          g/t

KR-10-1529     17.29  17.85     0.56         1.95    
               44.62  45.70     1.08         1.64    
               68.03  69.36     1.33         8.37    
KR-10-1530     20.42  21.94     1.52         2.04    
               30.21  30.74     0.53         1.74    
KR-10-1532     25.29  29.57     4.28         2.95    
               57.00  66.14     9.14        37.37    
KR-10-1533     24.05  25.45     1.40         2.07    
               53.43  53.95     0.52         2.22    
               57.00  57.55     0.55         1.70    
KR-10-1535     53.45  55.75     2.30        17.60    
               60.05  62.82     2.77         1.37    
KR-10-1536     41.33  42.60     1.27         1.12    
KR-10-1537     49.28  50.71     1.43        15.64    
               69.41  69.87     0.46         1.52    

* Notes: (1) True thickness is not determined.                                            
         (2) Drill hole Nos. KR-10-1531 and KR-10-1534 
         from the Hoodoo zone returned no significant 
         intersections.                                                       

Break zone

The Break zone is a historic open pit mined in the late 1980s by Canamax Resources located in the northeast corner of the proposed Peel open pit. A series of 2010 drill holes was completed within the existing resource in the Break zone (see drill hole plan map figure which can be found on the company's website) and tested sulphide manto-style targets that lie stratigraphically below the existing oxide resources.

The "Summary of significant intercepts from the Break zone* (proposed Peel open pit)" table lists significant drill hole intercepts from oxide materials in the Break zone that were recently received. Drill hole KR-10-1499 from this zone returned two intercepts: 2.36 metres averaging 13.90 g/t Au and 5.78 metres that averaged 3.46 g/t Au.

SUMMARY OF SIGNIFICANT INTERCEPTS FROM THE BREAK ZONE*
               (PROPOSED PEEL OPEN PIT)

                                Thick-      Grade
  Drill         From    To       ness        Au
hole No.          m     m         m          g/t

KR-10-1499     79.02  81.38      2.36        13.90    
              108.56 114.34      5.78         3.46    
KR-10-1502     71.80  82.14     10.34         2.60    
               87.66  89.87      2.21         2.44    

*Notes:    (1) True thickness is not determined.                                    
           (2) Other drill holes from this zone were 
               reported in Stockwatch on Sept. 16, 2010.

B-Mag zone

The B-Mag zone is an individual northwest-trending mineralized zone located on the east side of the proposed Peel open pit. A further series of 2010 drill holes were completed on the southeastern margin of this existing resource (see drill hole plan map figure which can be found on the company's website).

The "Summary of significant intercepts from the B-Mag zone* (proposed Peel open pit)" table lists significant drill hole intercepts in the B-Mag zone that were recently received. Drill hole KR-10-1520 intercepted 9.42 metres averaging 7.06 g/t Au starting at 3.0 metres. The recent drilling in the B-Mag zone was successful in extending gold mineralization by 15 to 33 metres laterally to the southeast of the existing resource.

SUMMARY OF SIGNIFICANT INTERCEPTS FROM THE B-MAG ZONE*
              (PROPOSED PEEL OPEN PIT)

                                Thick-      Grade
  Drill         From    To       ness        Au
hole No.          m     m         m          g/t

KR-10-1513     25.27  31.53     6.26         1.85    
KR-10-1518      5.59   6.09     0.50        15.30    
                7.63  11.70     4.07         2.43    
               23.47  26.52     3.05         1.71    
KR-10-1520      3.05  12.47     9.42         7.06    

*Notes: (1) True thickness is not determined.                                    
        (2) Other drill holes from this zone were 
            reported in Stockwatch on Sept. 16, 2010.

Connector zone

The Connector target is a combination magnetic, gravity and gold-in-soil anomaly, lying upslope from the Gully resource in the Shamrock zone. See the Connector target plan map figure on the YNG website. This target trends nearly east-west and lies at a high angle to the well defined Gully (vein) resource. One last drill hole was recently received, and is presented in the "Summary of significant intercepts from the Connector zone* (proposed Gully open pit)" table. The rest of the drill holes were reported in Stockwatch on Oct. 26, 2010.

SUMMARY OF SIGNIFICANT INTERCEPTS FROM THE CONNECTOR ZONE*
              (PROPOSED GULLY OPEN PIT)
                                Thick-      Grade
  Drill         From    To       ness        Au
hole No.          m     m         m          g/t

KR-10-1494     20.82  21.29     0.47         1.57    
              140.06 140.54     0.48         7.11    

* Notes: (1) True thickness is not determined.                                  
         (2) Other drill holes from this zone were reported 
             in Stockwatch on Oct. 26, 2010.

None of these recent drill intercepts from the Hoodoo, B-Mag, Break and Connector zones were included in the data used for the NI 43-101 resource estimate released on April 14, 2008, and therefore are likely to lead to an increase in the resource at the Ketza River project. A complete table of updated results for the 2009-2010 drilling program can be found on the company's website.

All of the assays were analyzed at ALS Laboratory Group in North Vancouver. The documentation of the quality control and quality assurance protocols are described in the NI 43-101 document described above and can be found on the company's website.

This news release was compiled and written by the chief geologist for the Ketza River project, Ed Gates (MSc, PGeo). It was also reviewed and approved by Todd Johnson (MSc), vice-president of exploration for Yukon-Nevada Gold. Mr. Johnson is the qualified person for the purpose of this release.