TORONTO, ONTARIO -- (MARKET WIRE) -- December 15, 2006 -- Yukon Gold Corporation, Inc. ("Yukon Gold"), (TSX: YK) (OTCBB: YGDC) is pleased to report assay results for the five remaining drill holes from its 2006 program at the Marg VMS Deposit, located in the Mayo Mining District of the Yukon. These five holes are part of the 2006 drill program to further define the size of the copper/zinc deposit. The assay information has confirmed that additional copper, zinc and lead mineralization continues to extend to the west of the historical resource. Highlights of the drill results are as follows:
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From Width Copper Lead Zinc Gold Silver
Hole Section Zone (m) To (m) (1)(m) (%) (%) (%) (g/t) (g/t)
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92 5400E D1 68.86 70.66 1.80 1.31 1.20 2.15 0.39 36.4
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93 5200E B4 174.47 176.85 2.38 3.45 4.54 11.29 1.41 102.1
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94 5300E B3 218.52 220.46 1.94 2.85 3.94 9.21 0.74 98.0
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B2 241.97 243.88 1.91 2.02 3.08 6.19 0.73 97.9
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95 5000E B6 325.83 329.18 3.35 0.63 1.03 2.54 0.19 20.6
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96 4900E B7 359.00 361.00 2.00 1.45 1.36 3.80 0.27 31.3
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(1) Intersected widths are approximately true widths.
The Marg deposit consists of a series of continuous to discontinuous sheets of massive and semi-massive sulphide mineralization. The massive sulphide horizons are up to 23 metres thick and have been traced along a strike length of 1200 metres and up to 700 metres down dip. The horizons remain open to extension at depth and along strike. The resource classified in accordance with NI 43-101 is stated in the table below:
43-101 Compliant Resource Estimate for the Marg VMS Deposit,
March 2005, by P. Holbek
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Average
Thickness Copper Lead Zinc Silver Gold
Zone Classification (m) Tonnes % % % g/t g/t
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A Indicated 4.8m 57,605 1.93 3.56 6.33 105.14 1.93
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Inferred 75, 413 0.68 0.96 2.10 35.22 0.45
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B Indicated 3.7m 785,497 1.70 2.21 4.08 61.90 0.90
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Inferred 80,548 1.46 2.22 4.34 53.29 0.87
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C Indicated 8.6m 1,459,564 1.60 2.45 4.31 73.41 1.21
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Inferred 289,330 1.90 2.10 3.95 60.04 1.26
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D Indicated 5.1m 2,343,521 1.95 2.75 5.26 59.97 0.85
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Inferred 435,488 1.48 1.88 3.80 46.12 0.85
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Total Indicated 6.0m 4,646,200 1.80 2.57 4.77 65.08 0.99
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Total Inferred 6.0m 880,800 1.55 1.90 3.75 50.42 0.95
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A new three-dimensional model of the Marg deposit will be constructed to assist with an updated resource estimate and economic evaluation in early 2007. This updated resource estimate will also include results from the 2005 drill program.
The Qualified Person supervising this drilling program and who has reviewed this press release is R. C. Carne, P. Geo. an independent consultant.
Clarification to Previous Press Release
In our press release of November 6, 2006 regarding drill results from the Marg Property, we inadvertently disclosed the sum of indicated and inferred resources when these categories must be reported separately as we have in this press release. We also unintentionally used the term "ore body". Mineral resources cannot be termed "reserves" or "ore" until they have demonstrated their economic viability which, in our case, we have not demonstrated this viability.
About Yukon Gold
Yukon Gold Corporation, Inc. is an active and progressive public exploration and development company. The Company's main focus is its recently acquired VMS deposit (Marg Property) and its Mount Hinton gold and silver exploration project in the Central Yukon Territory of Canada. These properties lie within the Tombstone Gold Belt, world renowned for the discovery of major gold and base metal deposits. The Company recently listed its shares on the TSX and raised sufficient capital to carry out its 2006 property work programs. Currently, there are approximately 18.8 million of the Company's common shares outstanding.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Contacts:
Yukon Gold Corporation, Inc.
Paul Gorman
(416) 865-9869
Toll Free 1-800-295-0671
Email: pgorman@yukongoldcorp.com
Website: www.yukongoldcorp.com
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