Yukon Zinc Corporation
Wednesday, February 27th, 2008
Yukon Zinc Corporation is pleased to update shareholders on its progress to procure financing for the continued development of the Wolverine Project, which is being maintained in a state of readiness for resumption of development activities.
The Company is currently evaluating financing alternatives to alleviate a current working capital shortfall and to provide the additional working capital necessary to maintain equipment purchase contracts and the development schedule and other activities related to the Company’s Wolverine Project.
The Company is also engaged in discussions with a number of third parties who have expressed an interest in participating in the Wolverine Project. These discussions range from a merger with the Company, a major share investment in the Company or an acquisition of all of the shares of the Company. Although these discussions are ongoing, no firm proposals have been received nor has any agreement been executed. The Company cannot be sure that either a definitive proposal will be received, or that a binding agreement will be reached; or, if an agreement is reached, that the conditions required to complete the transaction will be met.
The Company has engaged Paradigm Capital Inc. to assist and coordinate discussions with the interested parties and to provide the Board with relevant information to enable it to assess the fairness of any proposal which may be received.
Yukon Zinc Corporation is focused on the development of the Wolverine deposit as the Yukon’s next significant zinc-silver mine and the exploration of the Finlayson District as Canada’s newest Volcanogenic Massive Sulphide District.
For further information visit: www.yukonzinc.com