Yukon Gold's 2008 Drill Program Confirms Resource Grades in the Metallurgical Sample from its Marg Deposit and Sees Renewed Interest in its Mt. Hinton

TORONTO, Oct. 14 /CNW/ - Yukon Gold Corporation, Inc. ("Yukon Gold" or the "Company")(TSX: YK.TO) (OTCBB: YGDC.OB) (Frankfurt: W8Y) is pleased to announce the Marg drill results, below, made over this summer's 3674 metre drill program.

Renewed interest in the Mt Hinton property is due to Alexco entering into a Silver Purchase Agreement with Silver Wheaton, anticipating that the initial silver deliveries will come from the Bellekeno property at Keno Hill, which is contiguous to Mt Hinton.

Marg Deposit Update

Yukon Gold is pleased to announce results of the 2008 diamond drill program at its 100% owned Marg Property, an advanced stage copper/lead/zinc/silver/gold deposit in the Tombstone Belt in Yukon, Canada.

With a skid mounted rig, 3674 metres were drilled in 10 holes. Six holes were to collect metallurgical test samples and four holes were to test the extension of the known mineralization.

    
    Highlights of the drill results are outlined below:

    Hole_ID    from     to   core width  Cu     Pb     Zn       Ag       Au
                                (m)       %      %      %       g/t      g/t

    M-108     111.42  111.85    0.43    1.49   2.20    3.84    53.90    1.33
              158.29   162.8    4.51    0.60   1.26    2.19    44.27    2.04
               181.6   185.8    4.20    1.67   3.40    5.53    82.81    1.81
               195.8  196.43    0.63    0.17   1.37    1.75    26.70    0.36

    M-109      145.8  157.35   11.55    1.72   1.72    3.64    42.41    0.63

    M-110      246.1   255.9    9.80    2.15   3.50    7.37    79.26    1.25
               290.8   291.3    0.50    1.69   1.97    3.86    93.50    1.34
               295.5     306   10.50    1.03   1.69    3.23    46.71    0.90

    M-111      294.2   299.9    5.70    1.52   2.06    4.71    44.20    0.93
              332.77   337.6    4.83    0.87   1.63    3.10    39.03    0.52

    M-112     294.65   295.2    0.55    1.70   3.45    7.20   assays pending
               298.2   301.9    3.70    1.81   2.28    6.52   assays pending
               314.3   315.7    1.40    0.93   1.50    3.00   assays pending
               332.9     336    3.10    0.54   0.74    1.47   assays pending

    M-113      330.7   336.7    6.00    2.42   2.11    4.67   assays pending
               379.6   380.4    0.80    1.60   2.40    4.65    59.00    0.55

    M-114      418.6   420.1    1.50    0.38   0.48    0.86    10.74    0.13
           including
               419.6   420.1    0.50    0.90   1.16    2.03    25.80    0.24

    M-115      275.8   276.3    0.50    0.17   1.94    3.37    67.20    0.03

    M-116      333.1  335.15    2.05    0.17   0.60    1.71    10.63    0.08
           including
               334.6  335.15    0.55    0.36   1.59    4.36    24.10    0.15

    M-116     361.35   362.5    1.15    1.60   0.86    2.61    24.16    0.44
           including
              361.95   362.5    0.55    3.05   1.55    4.78    42.30    0.81

    M-117  No Significant Intersections
    

Holes M-108 to M-113 provided samples for the metallurgical test work and, as well, provided a higher confidence level in the resource estimate released in July 2008 by confirming grades and widths. Holes M-114 to M-116 were exploratory holes confirming the continuation of the mineralized zones to depth and to the west. Hole M-117 encountered extensive faulting and no significant mineralization.

The majority of assays were carried out by ALS Chemex Laboratories, an accredited lab. Assay results (which do not include gold or silver results) for holes M-112 and M-113 were carried out by G&T Metallurgical Services Ltd. as part of the metallurgical programme (G&T Metallurgical is also an accredited laboratory). Rejects from the samples assayed at G&T Metallurgical will also be assayed at ALS Chemex to provide gold and silver results as well as checks on the copper, lead and zinc results. (Based on comparisons of duplicate assays completed to date on the first three holes, the results for base metals are not expected to vary significantly.)

The metallurgical test work at G&T Metallurgical Services Ltd. in Kamloops, B.C started in late August. The test program is expected to be completed by year end; however preliminary results may become available before that time.

Upon receipt of the Metallurgical Report, Yukon Gold will assess the resumption of the Scoping Study commenced in February 2008.

Mt Hinton Update

Yukon Gold is planning to renew exploration in 2009 on the drill-ready Mt Hinton gold/silver property in Keno City, contiguous to the Bellekeno Mine of Alexco.

Chief Administrative Officer Appointment

Yukon Gold is pleased to announce that Kathy Chapman has been appointed Chief Administrative Officer. Mrs. Chapman has worked for the Company since its inception and has over 30 years combined experience in accounting, administration, human resources, management, financial control and regulatory compliance in both Canadian and US public companies.

About Yukon Gold

Yukon Gold Corporation, Inc. (Yukon Gold) explores and develops mining properties with a commitment to moving projects towards production. Currently there are 33.6 million of the Company's common shares outstanding.

The technical information in this Press Release has been reviewed by Gary A. Cohoon P.Geo. and a Qualified Person.

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Cautionary Note to US Investors - The United States Securities and Exchange Commission (SEC) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. The reader is cautioned that the terms "resource," "indicated" and "inferred" are not terms recognized by SEC guidelines for disclosure of mineral properties. Generally, "indicated" and "inferred" estimates do not rise to the level of certainty required by SEC guidelines. The mineralized material described above is not considered a "reserve" as that term is used in the mining industry and in SEC disclosure guidelines. The Company must undertake a feasibility study before it can estimate the value of the Marg Deposit. U.S. investors are urged to consider closely the disclosure in our Form 10-KSB, File No. 000-51068. You can review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml.

Contacts

Yukon Gold Corporation
Inc.
Cletus Ryan
VP Corporate Development
(416) 865-9869 or 1-800-295-0671 x12
Email: cryan@yukongoldcorp.com
Website: www.yukongoldcorp.com