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

VANCOUVER, Feb. 25 /CNW/ --
VANCOUVER, Feb. 25 /CNW/ - Yukon-Nevada Gold Corp. (TSX: YNG) (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.

 ________________________________________________________________
|          |   From   |    To    |  Length  |                    |
|  Hole ID |Feet (ft) |Feet (ft) |Feet (ft) |       Gold Grade   |
|          |Meters (m)|Meters (m)|Meters (m)|                    |
|__________|__________|__________|__________|____________________|
|SMI-LX-758|  57.0 ft | 122.0 ft |  65.0 ft |        0.190 opt   |
|          |   17.4 m |  37.2 m  |   19.8 m |         5.91 g/t   |
|__________|__________|__________|__________|____________________|
|          | 147.0 ft | 172.0 ft |  25.0 ft |        0.208 opt   |
|          |  44.8 m  |  52.4 m  |   7.6 m  |         6.47 g/t   |
|__________|__________|__________|__________|____________________|
|          | 197.0 ft | 277.0 ft |  80.0 ft |        0.271 opt   |
|          |  60.1 m  |  84.5 m  |   24.4 m |         8.74 g/t   |
|__________|__________|__________|__________|____________________|
|          | 302.0 ft | 362.0 ft |  60.0 ft |        0.228 opt   |
|          |  92.1 m  | 110.4 m  |   18.3 m |         7.09 g/t   |
|__________|__________|__________|__________|____________________|
|          | 557.0 ft | 567.0 ft |  10.0 ft |        0.240 opt   |
|          | 169.8 m  | 172.9 m  |   3.1 m  |         7.46 g/t   |
|__________|__________|__________|__________|____________________|
|SMI-LX-759|  69.0 ft |  97.0 ft |  28.0 ft |        0.291 opt   |
|          |   21.0 m |   29.6 m |   8.6 m  |         9.84 g/t   |
|__________|__________|__________|__________|____________________|
|          | 147.0 ft | 244.0 ft |  97.0 ft |        0.572 opt   |
|          |  44.8 m  |  74.4 m  |   29.6 m |        19.61 g/t   |
|__________|__________|__________|__________|____________________|
|  includes| 197.0 ft | 214.0 ft |  17.0 ft |        1.330 opt   |
|          |  60.1 m  |  65.2 m  |   5.1 m  |        45.60 g/t   |
|__________|__________|__________|__________|____________________|
|          | 503.5 ft | 522.0 ft |  18.5 ft |        0.146 opt   |
|          | 153.5 m  | 159.2 m  |   5.7 m  |         5.01 g/t   |
|__________|__________|__________|__________|____________________|
|Notes:  (1) Gold grade reported in Troy ounces per ton (opt) and|
|grams per tonne (g/t)                                           |
|________________________________________________________________|
|            (2) The total depth of drill hole SMI-LX-758 and    |
|SMI-LX-759 is 607.0 ft and 567.0 ft respectively.               |
|________________________________________________________________|

Drill hole SMI-LX-758 is located slightly east and above drill hole
SMI-LX-757; whereas SMI-LX-759 was drilled below SMI-LX-757 to further
test the vertical extent of the mineralization encountered in drill
hole SMI-LX-757 (see drill hole location plan map and cross-section
which can be found on our website here: http://www.yukon-nevadagold.com/i/pdf/NR_06_2011_UG_DDH.pdf. Drill hole SMI-LX-757 contains significant gold intercepts that were
reported in an earlier press release dated February 14, 2011.  All of
these results confirm the continuity of the gold mineralization in the
area north of the existing Zone 2 mine workings and west-southwest of
the Zone 5 workings. 

Drill holes SMI-LX-758 and SMI-LX-759 were drilled in the hanging wall
subparallel to the strike of the northeast-trending Coulee fault zone. 
The geology of the mineralized intercepts from both drill holes are
consistent with that seen and previously reported in drill hole
SMI-LX-757.

Drill hole SMI-LX-759 was drilled in January 2011 below SMI-LX-757 to
further test the vertical extent of the mineralization encountered in
drill hole SMI-LX-757.  Additional drilling is being considered in 2011
from the same Zone 2 drill station to test the lateral extent of the
mineralization.

Assays from the underground diamond drill hole reported in this news
release were performed by ALS Laboratory Group in Reno, Nevada, using
standard fire assay techniques. Intercepts are reported as drilled.
True widths have not yet been calculated; given the geometry of
mineralization at Jerritt Canyon, the concept of true width is not
always meaningful before delineation drilling has been completed. The
Company's 2010 and 2011 Quality Assurance and Quality Control protocols
are available at the Company's website: http://www.yukon-nevadagold.com/i/pdf/JC_Assay_Protocols.pdf

The information in this news release was compiled by William Hofer,
Chief Geologist, and Laura Symmes, Geologist, at the Jerritt Canyon
Mine. This news release was reviewed and approved by the Company's Vice
President of Exploration, Todd Johnson, M.Sc., the Qualified Person for
purposes of this release.

Yukon-Nevada Gold Corp. is a North American gold producer in the
business of discovering, developing and operating gold deposits. The
Company holds a diverse portfolio of gold, silver, zinc and copper
properties in the Yukon Territory and British Columbia in Canada and in
Nevada in the United States. The Company's focus has been on the
acquisition and development of late stage development and operating
properties with gold as the primary target. Continued growth will occur
by increasing or initiating production from the Company's existing
properties.

If you would like to receive press releases via email please contact nicole@yngc.ca and specify 'Yukon-Nevada Gold Corp. releases' in the subject line.

The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.

WARNING: The Company relies upon litigation protection for
'forward-looking' statements.

This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States.  The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the 'U.S. Securities Act')
or any state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2011/25/c6003.html

Yukon-Nevada Gold Corp.
Richard Moritz 
Senior Director, Institutional Investor Relations
Tel: (604) 688-9427
Email: rmoritz@yngc.ca

Nicole Sanches
Investor Relations Manager
Tel: (604) 688-9427 ext 224
Email: nicole@yngc.ca
www.yukon-nevadagold.com

CHF Investor Relations
Jeanny So
Director of Operations
Tel: (416) 868-1079 ext. 225
Email: jeanny@chfir.com
www.chfir.com

Axino AG
Wolfgang Seybold
President and CEO
Tel: 49 711 25 35 92 40
Email: wolfgang.seybold@axino.de
www.axino.de/