Five Kaska First Nations

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VANCOUVER, April 30, 2012 /PRNewswire/ - Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) is pleased to announce that, along with its wholly owned subsidiary,
Ketza River Holdings Ltd., it has signed a Socio-Economic Participation
Agreement ("SEPA") with Kaska First Nations ("Kaska") located in both
Northern British Columbia and the Yukon Territory.


The SEPA has been negotiated over the last five years and is designed to
foster and promote social and economic opportunities for First Nations
members and contractors. There are also numerous beneficial effects
that accrue to Yukon-Nevada Gold Corp. ("YNG" or the "Company").


In addition to annual fixed and variable payments, YNG commits to the
provision of both training and employment opportunities to the local
First Nations. YNG seeks to the further development of the Kaska
workforce from which the Company will hire employees and/or contractors
and to that end will make annual payments into a scholarship fund for
qualified Kaska citizens.


Ongoing input by Kaska Citizens to the Ketza River Project ("Project")
will be facilitated by the hiring of an Aboriginal Liaison Officer
("ALO"). The ALO will act as a communication link between YNG and Kaska
citizens. A Management Advisory Committee will also be created, with
the responsibility to ensure the equitable enactment of the SEPA
especially related to the training, employment and business
opportunities provided by the Project.


"We are very pleased with this agreement," said Chief Jack Caesar. "For
too long the riches from Kaska traditional lands have been taken
without benefit to our communities. Yukon-Nevada Gold's commitment in
this SEPA to share benefits of this project with the Kaska is the
principled approach we have been seeking and expect from all resource
companies working in our traditional lands."


Chief Liard McMillan said of the agreement, "Liard First Nation was
pleased to work with Ross River Dena Council and all of the Kaska to
reach this significant milestone with the Company. Through mutual
respect for Kaska lands and the environment as our first priority, this
agreement shows that Kaska Territory is open for business, when it's
done the right way. We look forward to a long term positive
relationship with Yukon-Nevada Gold."


The SEPA provides and indicates Kaska support for the Project and
requires YNG's compliance with the spirit and intent of the SEPA and
all applicable laws and regulations. This lends the Project greater
certainty and stability as it undergoes permitting and assessment.
YNG's proposal for the Ketza River Mine is currently undergoing
assessment by the Executive Committee of the Yukon Environmental and
Socio-economic Assessment Board ("YESAB"). YESAB concluded its adequacy
review of the proposal on February 28th, 2012 and YNG is currently working to address YESAB's requests for
supplementary information.


Finally, the SEPA reinforces YNG's commitment to the implementation of
the Traditional Knowledge Protocol, signed July 20th, 2011. YNG continues to work hard at recognizing and protecting
traditional knowledge in the area around the Project.


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 the Yukon Territory and British Columbia in Canada and in
Nevada in the United States. The Company's focus has been on the
acquisition and development of late stage development and operating
properties with gold as the primary target. Continued growth will occur
by increasing or initiating production from the Company's existing
properties.




The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.


WARNING: The Company relies upon litigation protection for
"forward-looking" statements.


This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons
unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.




SOURCE Yukon-Nevada Gold Corp.