Yukon Resources Corp.
OTC Bulletin Board : YUKR
FRANKFURT : YE5

Yukon Resources Corp.

December 14, 2006 14:09 ET

Yukon Resources Corp.: Sagar Property Assay Results Return Multiple Values Greater Than 1% Uranium, and Greater Than 30.0 Grams Gold

TORONTO, ONTARIO--(CCNMatthews - Dec. 14, 2006) - Yukon Resources Corp. (Yukon) (OTCBB:YUKR)(FWB:YE5) has received the final assays of its summer and fall exploration programs from the Sagar Uranium - Gold Property located in the Labrador Trough of Northern Quebec.

High grade uranium, gold and copper results have been returned from several areas on the property. A total of 6 samples returned values greater than 1.0% U and 27 samples were greater than 0.1% U. Gold values over 30.0 g/t occurred in 6 samples and 25 samples were greater than 1.0 g/t.

Assay Results Enhance Yukon's Interpreted Target Areas

The results support the current interpretation of a concentration of mineralization along specific geological units and associated with structures defined by geophysical surveys as well as field mapping and prospecting. In addition, new discoveries of mineralized boulders along the interpreted glacial ice direction has increased the confidence placed in areas targeted as the up ice source areas for the spectacular mineralization of the Mistamisk Boulder Field (previously reported, 70 boulders assayed an average of 64.9 g/t Au and 1.3% U) (news release Nov 10, 2006)

Areas with significant mineralization include; uranium and gold in the Eagle West area located to the south of the Mistamisk boulder field; gold-uranium in the Red Tail area situated along an important east-west bounding structure; uranium-gold in the Osprey area; copper-gold in the Crowbush area; copper-cobalt in the Tache Lake area (southwest of the Red Tail area) and copper in the Delhi Pacific and Le Geant areas.

Eagle West Target Area

The Eagle West area is approximately 1 km down ice from the Mistamisk boulder field and 2 km up ice from the uranium in water sample anomalies reported by Yukon (news release Nov 10, 2006). Samples were taken from large angular boulders and possible sub-crop along a 1km trend parallel to the Romanet River approximately 1km south of the Mistamisk boulder field. Sample material indicates that the source area is proximal to the sampled locations.

The style of mineralization (albitized green mudstone) and metal associations (lead, selenium, nickel, barium) are similar to those associated with the Mistamisk boulder field. Numerous significant samples were returned with highlights of greater than 1% U, 213.0 g/t Au, 2.91% U, 10.4 g/t Au and 2.41% U and 17.3 g/t Au.

Mistamisk Boulder Field-Extension

The main Mistamisk boulder field was expanded beyond the original 250 x 500m area with selected samples assaying 1.45% U, 43.4 g/t Au and 0.06% U and 32.5 g/t Au. Of significance, mineralized boulders were also found 1.3 km north (down ice) of the main boulder field with results including 1.89% U and 42.4 g/t Au. All these samples support the concept that the potential mineralized source area is around the previously announced water anomalies which are located several kilometers to the south of the Mistamisk boulder field.
Red Tail Target Area

The Red Tail area is located on the eastern end of an important east-west bounding structure and the mineralization occurs in outcrop associated with felsic dykes. Assay highlights include 0.53% U, 125.0 g/t Au, 0.42% Mo; 0.48% U, 37.2 g/t Au, 1.31% Mo; and 0.02% U, 159.0 g/t Au, 0.65% Mo. The mineralization also contains significant copper, up to 0.63%, selenium (1.0%) and lead (0.39%)

Crowbush Target Area

The Crowbush area is situated in the center of the interpreted east-west structure. The water geochemical survey defined an extensive area of low pH bogs surrounded by uranium - molybdenum and uranium - copper anomalies on the Crowbush Grid. The Crowbush also contains an alteration anomaly outlined by the water survey. The area contains numerous low grade uranium and copper anomalies in outcrop. Of significance, a sample of subcrop returned 5.53% Cu and 0.2 g/t Au in the alteration anomaly area. Another sample of outcrop returned greater than 1% Cu and 0.6 g/t near the pH anomaly. The water survey results have identified this area as a high priority target for the upcoming winter drill program.

Significant Copper Results

Significant copper results were returned from the Le Geant area, with grab samples grading up to 13.1% copper. From the Delhi Pacific showing samples returned up to 17.8% copper. The Tache Lake showing located south of the Red Tail area returned values of up to 11.3% copper, 0.27% cobalt and 2.41% copper and 0.59% cobalt.

A new showing in the Viking area appears to be a new style of mineralization for the Sagar area, assaying 6.07% copper, 0.17% cobalt, 0.22% mercury, and 5.69% selenium. For the first time, the exploration has identified nickel on the property with the sample assaying 1.64% nickel.

Table of Assay Results

A table of assay results is presented below for uranium, gold and copper. We have also provided a map of Sagar which outlines exploration target area, 2006 assays and previous drilling indicated by dots on the following map. These assay results highlight the high tenor and the widespread distribution of the mineralization on the Sagar Property.

Note: The company is awaiting over assay results on select samples shown as greater than 1% and these will be reported once received from the lab.



----------------------------------------------------
Sample Area U % Au g/t Cu %
----------------------------------------------------
GR00891 Eagle NW 2.91 10.40 0.14
----------------------------------------------------
GR00626 Eagle NW 2.41 17.30 0.03
----------------------------------------------------
GR00687 Eagle NW (i) greater
than 1.00 213.00 0.02
----------------------------------------------------
GR00688 Eagle NW 0.58 1.38 0.00
----------------------------------------------------
GR00755 Eagle NW 0.41 21.20 0.07
----------------------------------------------------
GR00690 Eagle NW 0.38 15.60 0.01
----------------------------------------------------
GR00744 Eagle NW 0.28 0.09 0.01
----------------------------------------------------
GR00732 Eagle NW 0.26 4.95 0.01
----------------------------------------------------
GR00737 Eagle NW 0.24 3.43 0.00
----------------------------------------------------
GR00752 Eagle NW 0.12 15.20 0.01
----------------------------------------------------
GR00742 Eagle NW 0.04 3.20 0.01
----------------------------------------------------
GR00733 Eagle NW 0.01 1.28 0.01
----------------------------------------------------
GR00735 Eagle NW 0.01 4.01 0.00
----------------------------------------------------
GR00894 Eagle 1.58 0.10 0.00
----------------------------------------------------
GR00854 Red Tail 0.02 159.00 0.07
----------------------------------------------------
GR00853 Red Tail 0.48 37.20 0.63
----------------------------------------------------
GR00895 Red Tail 0.53 125.00 0.16
----------------------------------------------------
GR00876 Mistamisk 1.45 43.40 0.01
----------------------------------------------------
GR00671 Mistamisk 0.06 32.50 0.02
----------------------------------------------------
GR00669 Mistamisk
North 1.89 42.40 0.01
----------------------------------------------------
GR00602 Crowbush 0.00 0.21 5.53
----------------------------------------------------
GR00601 Crowbush 0.00 0.12 2.02
----------------------------------------------------
GR00851 Crowbush 0.00 0.21 1.63
----------------------------------------------------
GR00610 Crowbush 0.00 0.62 (i) greater
than 1.00
----------------------------------------------------
GR00877 Crowbush 0.00 0.49 (i) greater
than 1.00
----------------------------------------------------
GR00673 Tache Lake 0.00 0.20 2.41
----------------------------------------------------
GR00674 Tache Lake 0.00 1.92 11.30
----------------------------------------------------
GR00859 Delhi Pacific 0.00 0.09 17.80
----------------------------------------------------
GR00860 Delhi Pacific 0.00 1.73 8.34
----------------------------------------------------
GR00861 Delhi Pacific 0.00 0.11 8.15
----------------------------------------------------
GR00710 Le Geant 0.00 0.02 3.23
----------------------------------------------------
GR00716 Le Geant 0.00 0.03 2.96
----------------------------------------------------
GR00857 Le Geant 0.00 0.22 9.29
----------------------------------------------------
GR00713 Le Geant 0.00 0.02 8.95
----------------------------------------------------
GR00709 Le Geant 0.00 0.07 6.35
----------------------------------------------------
GR00712 Le Geant 0.00 0.20 8.14
----------------------------------------------------
GR00856 Le Geant 0.00 0.36 12.70
----------------------------------------------------
GR00715 Le Geant 0.00 0.16 13.10
----------------------------------------------------
GR00730 Osprey 0.00 0.18 (i) greater
than 1.00
----------------------------------------------------
GR00722 Osprey 0.21 20.80 0.10
----------------------------------------------------
GR00701 Osprey 0.54 0.02 0.00
----------------------------------------------------
(i) highlights are samples that need over assays


Joe Campbell (P.Geo.) is the Qualified Person for all the technical information contained in this press release.

Yukon Resources is a rapidly emerging uranium exploration company with assets in Northern Quebec, Arizona and Finland. Yukon trades on the OTCBB under the symbol YUKR as well as the Frankfurt Exchange under the symbol YE5. The company continues to focus on high priority uranium property acquisition and exploration in order to participate in meeting the significant and increasing demand for uranium as an alternative energy source.

Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.

To view the map accompanying this press release, please click on the following link: http://www.ccnmatthews.com/docs/yukon.jpg.

Contact Information

  • Yukon Resources Corp.
    Investor Information Services
    Toll Free: 1-866-985-6696
    or
    Yukon Resources Corp.
    Kirk McKinnon
    President and CEO
    (416) 364-7024 or 1-800-818-5442
    or
    Yukon Resources Corp.
    Richard Schler
    Vice President and CFO
    (416) 364-7024 or 1-800-818-5442
    Email: info@yukonresources.com
    Website: www.yukr.com