Yukon Gold Corporation, Inc. Acquires Massive Sulphide Resource, in the Mayo Mining District, Yukon

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Yukon Gold Corporation, Inc. (Â?Yukon GoldÂ?), (OTCBB: YGDC) announced today that it has acquired the Marg Deposit, a volcanogenic massive sulphide (Â?VMSÂ?) property consisting of 402 contiguous mineral claims covering approximately 20,000 acres, located in the central Yukon Territory.

Yukon Gold Corporation, Inc. (“Yukon Gold”), (OTCBB: YGDC) announced today that it has acquired the Marg Deposit, a volcanogenic massive sulphide (“VMS”) property consisting of 402 contiguous mineral claims covering approximately 20,000 acres, located in the central Yukon Territory.

Marg Deposit Mineral Resource Estimate:

Based on a 1997 ore resource study by Franzen Mineral Engineering Ltd. (“Franzen”), the Marg Deposit has a drill indicated resource of 5,527,002 metric tonnes (6,100,000 tons) grading 1.76% copper, 4.60% zinc, 2.46% lead, 62.7 g. of silver per ton and 0.98 g. of gold per ton over an average true width of 6.1 metres (20 ft.). Open along strike in both directions and down dip, the Company believes this classic base metal deposit has the major potential for substantially increasing tonnage. At the end of the 1996 drilling program, the thickest and richest intersection, 16.2 metre (53 ft.) true width averaged 2.82% copper, 2.46% lead, 5.50% zinc, 82.5 g of silver and 1.84 g. of gold per ton. This indicates potential increased massive sulphide thicknesses to the west. Based on current metal prices, the in-ground value of the Marg resource without any further exploration is extremely economical.(*) A preliminary evaluation by Yukon Gold’s engineers and geologists have determined this outcropping deposit with its favorable topography, resource base and excellent exploration potential, will warrant proceeding to production.

(*)Total in-ground resources and current values based on US$ Copper $1.50 lb, Lead $0.45 lb, Zinc $0.62 lb, Silver $7.29 oz., Gold $432.00 oz. as of February 23, 2005, Exchange rate $0.80. These amounts are before metallurgical loss and costs of recovery.


Copper - 214,452,973 lbs - $321,679,496

Lead - 299,746,769 lbs - $134,886,046

Zinc - 560,502,088 lbs - $347,511,295

Silver - 11,066,715 oz - $80,676,352

Gold - 195,871 oz - $84,616,272

US - $969,369,461

CDN - $1,153,549,658

Deposit Assessment:

In 135 massive sulphide intercepts in 76 diamond drill holes totaling 20,494 metres, four gently to moderately inclined, polymetallic massive sulphide horizons (A,B,C and D) in a 100 metre thick quartz-sericite schist and graphitic phyllite structural succession were outlined. The massive sulphide horizons are up to 23 metres thick and have been traced along a strike length of 1,200 metres and up to 700 metres down dip. They remain open to extension at depth and along strike. An updated drill indicated mineral resource with a minimum 3 metre width has been assigned to each of the four horizons as follows:

Horizon    Thickness Tonnes Cu Pb Zn Ag    Au

        (m)             (%) (%)(%) (g/t) (g/t)

A    4.8    133,018    1.22 2.09 3.93 65.5 1.09

B    3.7    866,081    1.68 2.21 4.10 61.1 0.90

C    8.6 1,748,894 1.65 2.39 4.25 71.2 1.22

D    5.1 2,779,009    1.88 2.61 5.03 57.8 0.85

Total    6.0 5,527,002 1.76 2.46 4.60 62.7 0.98

Acquisition Overview and Work Program Activity

With the Marg Deposit acquisition, Yukon Gold has significantly increased its resource base and has assembled one of the largest land positions in the Yukon Territory’s Mayo Mining District. Mr. Warren Holmes, Chairman and CEO of Yukon Gold expanded this fact by stating, “The acquisition of the Marg asset constitutes a logical step in the mandate of the company to acquire advanced projects and provides an opportunity for early production. This is a significant mineral resource with excellent exploration potential to increase tonnage moving forward. Our plan to acquire mineral deposits and drill indicated resources that can be taken to production in the highly prolific Tombstone Gold Belt with a centralized milling facility for these late stage properties is well underway.”

About Yukon Gold

Yukon Gold Corporation, Inc. is an extremely active and progressive public junior exploration and development company trading on the NASDAQ OTCBB under the symbol "YGDC". The Company’s main focus is its newly acquired 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. Please visit our Web site at: http://www.yukongoldcorp.com

For More Information, Please Contact:

Investor Relations Contact:

First Canadian Capital

Dan Boase

Vice President

(416) 742-5600

E: dboase@firstcanadiancapital.com

Corporate Contact:                

Yukon Gold                    

Paul Gorman                        

(416) 865-9869                

Toll Free (800)295-0671                

E: pgorman@yukongoldcorp.com

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Paul Gorman