Yukon Zinc Corporation
TSX VENTURE : YZC

Yukon Zinc Corporation

April 10, 2007 16:02 ET

Yukon Zinc Corporation Amends the Terms of the Previously Announced Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 10, 2007) -

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES

Yukon Zinc Corporation (TSX VENTURE:YZC) previously announced a $5 million brokered private placement (the "Offering") of Units priced at $0.23 each, where each Unit is comprised on one common share of Yukon Zinc and one-half of a share purchase warrant (a "Warrant"). Each whole Warrant provides for the purchase of one common share of Yukon Zinc over a 24 month period from Closing at $0.30. The size of the Offering has been increased up to $10 million and the purchase price of the Units has been reduced to $0.20 each. All other terms of the Offering, including the terms of the Warrants, remain unchanged. The Offering is subject to receipt of regulatory acceptance.

As previously announced, the best-efforts brokered financing will be carried out by a syndicate led by Paradigm Capital Inc., and including Canaccord Capital Corporation, Dundee Securities Corporation and Orion Securities Inc. The Closing of the Offering is now anticipated to be on or about April 23, 2007 or such other date as agreed by Yukon Zinc and Paradigm Capital Inc.

Yukon Zinc Corporation is focused on the development of the Wolverine deposit as the Yukon's next significant zinc-silver mine and the exploration of the Finlayson District in the Yukon as Canada's newest Volcanogenic Massive Sulphide District.

The securities comprising the Offering have not been and will not be, registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements.

This news release contains forward-looking statements which are based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of failure to complete the proposed financing, failure to obtain necessary regulatory approvals, exploration and other risk factors beyond Yukon Zinc's control and actual results may differ materially from the expected results.

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
    or
    Yukon Zinc Corporation
    Shae Dalphond
    Manager, Investor Communications
    (604) 682-5474 or Toll Free: 1-877-682-5474
    (604) 682-5404 (FAX)
    Email: info@yukonzinc.com
    Website: www.yukonzinc.com