Yukon-Nevada Gold Corp. Announces Restructuring of Ketza River Assets

VANCOUVER, March 3 /CNW/ --
VANCOUVER, March 3 /CNW/ - Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) Robert F. Baldock, the President and CEO of Yukon-Nevada Gold Corp. (the
'Company'), announces that the Board of Directors of the Company has
determined, in principle, to proceed with a restructuring of the
Company's assets which will result in the Company's Ketza River, Yukon
property being transferred to a separate corporate entity, Newco, which
will be a wholly-owned British Columbia subsidiary of the Company, and
will own 100% of the shares of Ketza River Holdings Ltd., the Yukon
domiciled company which holds the Ketza River assets.

It is anticipated that Newco will make a public distribution of
approximately 25% of its shares to fund the pre-production costs of the
Ketza River assets.  Following such public distribution, the Company
will hold the remaining approximate 75% of the issued shares of Newco. 
It is the intention that Newco will make application for a listing of
its shares on a recognized stock exchange.

Following the 'spin-out' of Newco, the Company will be able to focus on
the further development and enhanced production of its Jerritt Canyon
Gold Mine in Elko County, Nevada.

The proposed transaction remains subject to further review and approval
by the Company's Board of Directors.  If such approval is given,
completion of the transaction will be subject to approval of the
applicable securities regulatory bodies.  In the interim, the Company
is engaged with advisers to determine how best to proceed in terms of
structure, timing and other important issues related to a transaction
of this type.

Mr. Baldock stated, 'The creation of Newco and the appointment of
separate management, whilst maintaining shareholder control, will not
only strengthen the group management team but will also allow the
present Company management to more fully focus on Jerritt Canyon and
the significant program of development and growth planned at the Elko,
Nevada operational site.'

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.

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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.

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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/