YUKON GOLD CORPORATION, INC.

Yukon Gold and Bellhaven Copper and Gold have announced the signing a Memorandum of Understanding for Yukon to acquire a 75% interest in the Cerro Quema gold project located in Tonosi, Province of Los Santos, Republic of Panamá. Under the Terms of the MOU signed on September 16, 2009, Yukon Gold will acquire 75% of Minera through a combination of the purchase of certain outstanding shares of Minera owned by Bellhaven and the purchase of certain shares from the treasury of Minera for a consideration of $US 19,915,000 (which sum includes project financing). Upon exercise of the "Option to Purchase" Yukon Gold would own 75% of the outstanding shares of Minera and Bellhaven would hold the remaining 25%. The Property is subject to a 2% NSR in favour of Compania de Exploracion Minera S.A. and a 9% NPI in favor of Bellhaven. Yukon Gold agrees to purchase the 9% NPI from Bellhaven for consideration of $75,000, payable at Closing.