Yukon Zinc Corporation

Yukon Zinc Corporation

July 02, 2008 14:15 ET

Jinduicheng Molybdenum Group, Ltd. and Northwest Nonferrous International Investment Company, Limited Acquire Yukon Zinc Corporation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 2, 2008) - Yukon Zinc Corporation (TSX VENTURE:YZC) ("Yukon Zinc) is pleased to announce that the acquisition of Yukon Zinc by Jinduicheng Molybdenum Group, Ltd. and Northwest Nonferrous International Investment Company, Limited (collectively, the "Investors") has been completed.

The TSX Venture Exchange halted trading in the common shares of Yukon Zinc at the close of the market on June 26, 2008, and Yukon Zinc's common shares will cease to be listed for trading on the TSX Venture Exchange.

Yukon Zinc intends to file with the applicable Canadian securities regulatory authorities the necessary documentation to cease to be a reporting issuer in all of the jurisdictions in which it is currently a reporting issuer.

Advisors and Counsel

Yukon Zinc's legal counsel and financial advisors are Lang Michener LLP and Paradigm Capital Inc., respectively. The Investors legal and financial advisers are Davies Ward Phillips & Vineberg LLP and BMO Capital Markets, respectively.

About Yukon Zinc

Yukon Zinc is a TSX Venture Exchange listed company based in Vancouver. It is focused on development of its silver-rich Wolverine Project in southeast Yukon and its large exploration land holdings in the Finlayson and Rancheria Districts. A bankable feasibility study was completed for the Wolverine Project by Wardrop Engineering in January 2007 indicating favourable project economics. The Project has all of its main development permits and enjoys strong support from the Yukon Government and its local First Nations communities.

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements which are, or may be deemed to be, "forward looking statements", which are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Readers are cautioned not to put undue reliance on forward-looking statements.

12G: 82-4603

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

Contact Information

  • Yukon Zinc Corporation
    Dr. Harlan Meade
    President and CEO
    (604) 682-5474 or Toll Free: 1-877-682-5474
    Yukon Zinc Corporation
    Shae Dalphond
    Manager, Investor Communications
    (604) 682-5474 or Toll Free: 1-877-682-5474
    (604) 682-5404 (FAX)
    International Toll Free: 1-800-8682-5474
    Email: info@yukonzinc.com / Website: www.yukonzinc.com