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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: LLCF who wrote (26923)	12/3/2006 10:42:41 PM
From: heinz44	Read Replies (2) of 78405

YUKON ZINC REVISES FEASIBILITY STUDY Yukon Zinc Corp. confirmed the results of a feasibility study on its Wolverine property in Stockwatch on May 9, 2006. In the normal course of preparation of the 43-101 report on the feasibility study, a computational error was discovered in the mining portion of the operating costs that were estimated by Yukon Zinc. The result of amending this error is to increase the mining cost from $24.93 to $35.18 per tonne and overall operating costs per tonne mined from $90.26 per tonne to $100.51 per tonne. Yukon Zinc is undertaking a thorough review of all aspects of the feasibility study, which is expected to take several months. The effect of the change in operating costs will reduce pretax cash flows in the feasibility study by $5.5-million per year before any other effects. Yukon Zinc will provide a more detailed review of any other impacts of the change in operating costs as those numbers are confirmed. For the moment, the sensitivity table in the May 9, 2006, news release is being retracted due to the changes in the base case.

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