Yukon Gold Corporation, Inc.
OTC Bulletin Board : YGDC

Yukon Gold Corporation, Inc.

November 06, 2006 10:23 ET

Yukon Gold Likely to Expand its Mineral Resource With New Drill Results From its Marg Property

TORONTO, ONTARIO--(CCNMatthews - Nov. 6, 2006) - Yukon Gold Corporation, Inc. ("Yukon Gold"), (TSX:YK)(OTCBB:YGDC) is pleased to report assay results for four additional Main Zone drill holes: DDH 06-88, DDH 06-89, DDH 06-90 and DDH 06-91, from the Company's Marg VMS Deposit, located in the Mayo Mining District of the Yukon. The Marg Deposit has a National Instrument 43-101 compliant resource of 5,527,000 tonnes grading 1.76% Copper, 4.6% Zinc, 2.46% Lead, 62.7 g/t Silver and 0.98 g/t Gold.

These four holes are part of the 2006 drill program to further define the size and scale of the deposit and the assay information has confirmed additional copper, zinc and lead mineralization outside the boundaries of the historical resource. Results for the remaining holes will be reported as they are received.


From To Width Copper Lead Zinc Gold Silver
Hole Section Horizon (m) (m) (i)(m) (%) (%) (%) (g/t) (g/t)
88 5950E D1 Horizon 319.48 324.85 5.37 1.40 1.71 2.98 0.76 39.9
89 5800E D1 Horizon 175.26 176.31 1.05 1.77 2.53 4.66 0.21 43.4
90 5750E B4 Horizon 259.51 260.07 0.56 1.22 3.15 6.30 0.75 66.1
91 5550E B5 Horizon 104.23 109.27 5.04 1.72 3.77 6.21 2.73 113.7
A2 Horizon 201.63 202.85 1.22 1.62 2.15 4.39 0.46 57.5

(i)Intersected widths are approximate true widths

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 four hole program, (Holes 84, 85, 86 and 87). Hole 84 and Hole 85 were drilled to upgrade inferred mineralization to a drill indicated resource in an area of the main zone with relatively widespread historical intersections. Hole 86 and Hole 87 were drilled outside the boundaries of the ore body.


From Width Copper Lead Zinc Gold Silver
Hole Section Horizon (m) To (m) (i)(m) (%) (%) (%) (g/t) (g/t)
84 1900E D1 Horizon 215.07 218.24 3.17 2.17 2.45 5.04 0.64 57
85 1900E D1 Horizon 131.17 137.29 6.12 2.84 2.38 5.48 0.55 48
86 1950E D1 Horizon 293.41 297.00 3.59 2.19 2.89 5.81 0.84 69
87 1950E D2 Horizon 298.49 300.86 2.37 2.20 2.84 5.36 1.18 56
D1 Horizon 306.43 309.13 2.70 2.08 1.93 4.02 0.71 48

Assay Procedures

Core samples were split on site and shipped to the ALS Laboratory Group lab in North Vancouver. Samples were then crushed to better than 70% -2mm and a 250g sample was pulverized to better than 85% passing 75 micron. Copper, lead, zinc and silver were determined by Atomic Absorption Spectroscopy on an Aqua Regia digestion. Gold was determined by fire assay of a 30g nominal sample weight with an Atomic Absorption Spectroscopy finish.

As part of the Quality Control and Assurance protocol, blank samples have been routinely inserted into the sample stream and the HQ Core has been quartered at random intervals for check assays at the Acme Analytical Laboratories

The Qualified Person supervising this drilling program and who has reviewed this press release is R. C. Carne, P. Geo. an independent consultant.

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 17.8 million of the Company's common shares outstanding.

Company Website: www.yukongoldcorp.com

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.

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