FINANCING: Yukon-Nevada, Deutsche Bank strike $20-M forward gold sale

VANCOUVER - Yukon-Nevada Gold Corp. has entered into a US$20-million forward gold purchase agreement with the London branch of Deutsche Bank AG. The funds will be used by Yukon-Nevada subsidiary Queenstake Resources USA to expand production at the Jerritt Canyon gold mine in Nevada.

At the Jerritt Canyon property, Queenstake is expanding the SSX-Steer mine to 1,090 t/d. The company also plans to ready the Starvation Canyon project for production in 2012 by buying equipment and constructing a portal.

The updated 43-101 technical report for the Jerritt Canyon mine is available at Yukon-NevadaGold.com.