Vancouver, BC -- July 9, 2012 -- Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) is pleased to announce the commencement of earthworks for the establishment of the Starvation Canyon portal face located in the southern portion of Jerritt Canyon in Elko County, Nevada. Jerritt Canyon is a gold producing mine site operated by Queenstake Resources USA Ltd., a wholly-owned subsidiary of Yukon-Nevada Gold Corp. (the "Company").

Permitting activities with the State of Nevada were completed in 2011 allowing the Company to begin advancing Starvation Canyon to an underground mine project. The current plan is to have 150 feet of portal development in place before winter starts.

Ore production from the Starvation Canyon mine will commence in 2013 at a targeted rate of 300 to 600 ore tons per day. The Company will use underground mining contractors for the initial phase while evaluating equipment purchase options in the interim.

The 2011 surface exploration program at Starvation Canyon produced the following highlights as reported in a news release dated January 31, 2012:

• TJ-366 intersected 28.97 meters at 18.86 g/t gold;
• TJ-364A intersected 9.15 meters at 7.68 g/t gold; and
• TJ-367 intersected 7.63 meters at 6.31 g/t gold.

The Starvation Canyon Measured and Indicated resource including reserves as of December 31, 2011 is 5.9 kt averaging 0.294 opt containing 1,700 ounces and 519.4kt averaging 0.25 opt containing 130,000 ounces, respectively. This information is referenced in the latest NI 43-101 which can be found here: http://www.yukon-nevadagold.com/i/pd...ort_YE2011.pdf

Randy Reichert; Co-CEO and President, and COO states, "This is a quite an exciting milestone that we have achieved at Jerritt Canyon. We are looking forward to adding Starvation Canyon gold production to our pipeline which includes production from our two existing mines; the Smith and SSX/Steer mines."

The last previous major underground mine development at Jerritt Canyon was the Steer Mine which started in 2004.

Additional activities in the south part of the Jerritt Canyon district will include exploration drilling at the West Starvation target later this year. The drilling will test several anomalies identified from last year's Titan-24 direct current induced-polarization magnetotelluric (DC-IP-MT) ground survey.

The information contained in this news release has been reviewed and approved by the Company's Vice President of Exploration, Todd Johnson, M.Sc. (Qualified Person per the requirements of NI 43-101).

Yukon-Nevada Gold Corp. is a North American gold producer in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Nevada in the United States. The Company's focus has been on the acquisition and development of late stage development and operating properties with gold as the primary target. Continued growth will occur by increasing or initiating production from the Company's existing properties.

New Zealand Energy Commences Production from Copper Moki-3
July 09, 2012
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2012) - New Zealand Energy Corp. ("NZEC" or the "Company") (TSX VENTURE:NZ)(OTCQX:NZERF) is pleased to provide an update on production activities on its 100%-owned Eltham Permit in the Taranaki Basin of New Zealand's North Island.

Highlights

•Copper Moki gas pipeline is complete and tied in to Waihapa Production Station
•Eight-well drill program to commence in early August
•Copper Moki-3 is producing approximately 242 barrels of oil per day ("bbl/d") and 135 thousand cubic feet of natural gas per day(1) ("mcf/d")
•Average production in June from Copper Moki-1 and Copper Moki-2 was approximately 688 barrels of oil equivalent per day (391 bbl/d and 1,784 mcf/d)
Copper Moki Production Update

Copper Moki-1 and Copper Moki-2 continue to flow from natural reservoir pressure, with a total of more than 132,000 barrels of oil produced to date. Copper Moki-3 flowed 7,456 barrels of oil and 4,765 mcf of natural gas1 during production testing and commenced continuous production on July 2, 2012. The well is producing from natural reservoir pressure out of the Mt. Messenger formation at an average rate of 242 bbl/d and 135 mcf/d1 through a 20/64 inch choke.

NZEC's natural gas pipeline is complete and tied in to the Waihapa Production Station. The operator is finalizing arrangements to receive the gas and NZEC expects to begin generating cash flow from its natural gas production in July.

NZEC has completed a production test of Copper Moki-4, the Company's first Urenui formation well. The well produces 29° API oil which has a higher temperature pour point than Mt. Messenger oil. The well is shut in while NZEC completes the well test analyses and economic evaluation of artificial lift systems required to make a production decision for Copper Moki-4.

On behalf of the Board of Directors

Bruce McIntyre, President & Director

About New Zealand Energy Corp.

NZEC is an oil and natural gas company engaged in the production, development and exploration of petroleum and natural gas assets in New Zealand. NZEC's property portfolio collectively covers two million acres of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealand's North Island. The Company's management team has extensive experience exploring and developing oil and natural gas fields in New Zealand and Canada, and takes a multi-disciplinary approach to value creation with a track record of successful discoveries. NZEC plans to add shareholder value by executing a technically disciplined exploration and development program focused on the onshore and offshore oil and natural gas resources in the politically and fiscally stable country of New Zealand. NZEC is listed on the TSX Venture Exchange under the symbol NZ and on the OTCQX International under the symbol NZERF. More information is available at New Zealand Energy Corp - Homepage or by emailing info@newzealandenergy.com.