TORONTO, March 29, 2006 (PRIMEZONE) -- Yukon Gold Corporation, Inc. ("Yukon Gold") (OTCBB:YGDC), is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (the "TSX") for the listing of its common shares on the TSX, subject to the Company filing satisfactory final documentation. The Company has been given the trading symbol 'YK' by the TSX and expects to have all the required materials to the TSX within two weeks.
In conjunction with the TSX listing, Yukon Gold has closed its US$3.217 million financing through a non-brokered private placement. The offering consisted of placing 5,331,327 units at US$0.60 per unit. Each unit consists of a common share and a half share purchase warrant. Each full share purchase warrant may be exercised to purchase one common share at US$0.90 within 24 months of the issue date. Additionally, 25,000 flow-through units were purchased, consisting of one common share at US$0.75.
In connection with the offering, a finder's fee was paid, totaling 9% in cash for gross proceeds and 10% in warrants for gross units raised in Canada.
Net proceeds from the private placement will be used to further explore and develop Yukon Gold's Marg Property, a VMS deposit and the Company's Mt. Hinton Project, a high grade gold and silver property, as well as for general working capital purposes including property payments and work expenditures related to the Company's assets.
About Yukon Gold
Yukon Gold Corporation, Inc. is an active and progressive public junior exploration and development company, currently trading on the Nasdaq OTCBB under the symbol "YGDC". The Company's main focus is its 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. Within immediate proximity to the Company's Projects are a number of idle, former producing mines and drill indicated resources which Yukon Gold plans to target for acquisition. Currently, there are approximately 11.4 million of the Company's common shares outstanding.