ABJ - September 26 - Yukon-Nevada Gold Corp. has announced that on behalf of its wholly owned subsidiary, Ketza River Holdings Ltd., it has submitted its Yukon Environmental and Socioeconomic Assessment Application (YESAA) for the Ketza River Project.

The Ketza River Project is 42 kilometres off of kilometer 323 of the Robert Campbell Highway near Ross River, Yukon.

An assessment is the critical first step in gaining the necessary approvals to return the Ketza River Mine to production. The board will assess the environmental and socioeconomic effects of project activities and give consideration to scientific information, traditional knowledge, and other local knowledge in its assessment. The timeline for review is a minimum of one year from the date of submission.

The Ketza River Project is in the same location as the historic Ketza River Mine, which produced 98,000 ounces of gold and byproduct silver between 1988 and 1990. The current gold resource includes: 29,000 ounces measured in 167,800 tonnes grading 5.38 g/pt and 388,700 ounces indicated in about 2.12 million tonnes grading 5.46 g/pt. A further 67,300 ounces in 453,700 tonnes grading 4.62 g/pt is present in the Inferred category.

The planned mine includes nine open pits and two underground declines with 83 per cent of the ounces to be mined from open pits.

Forty-one per cent of the measured and indicated recoverable resource ounces are hosted in oxide ores which have a gold recovery of 90 per cent. The remaining 59 per cent of the measured and indicated recoverable resource ounces are hosted in sulfide or mixed sulfide and oxide ores that generally have gold recoveries of 70 per cent.

YESAA baseline studies for the Ketza River Project began in 2008. Concurrently, geotechnical and hydrogeology drilling programs were initiated, metallurgy drilling and testing programs developed and upper tailings site identified and drilled. During 2009 and 2010, Yukon-Nevada Gold conducted geophysical surveys, soil surveys, exploration drilling, additional geotechnical and hydrogeology drilling in the proposed resource areas, and geotechnical characterization of the lower tailings site.

Yukon-Nevada Gold Corp. is a North American gold producer in the business of discovering, developing and operating gold deposits. The company holds a diverse portfolio of gold, silver, zinc, and copper properties in Yukon and British Columbia in Canada and in Nevada in the United States.