YS Mining Announces Withdrawal of Cash Offer to Purchase All of the Outstanding Shares and Debt of Tagish Lake Gold Corp.

VANCOUVER, Sept. 24 /CNW/ -- 
      VANCOUVER, Sept. 24 /CNW/ - YS Mining Company Inc. ("YS Mining")
      announces today, that effective immediately, it has withdrawn its offer
      made on September 8, 2010, to purchase all of the outstanding shares and
      debt of Tagish Lake Gold Corp. ("Tagish Lake").  Accordingly, YS Mining
      will not be taking up any shares or debt tendered to its bid.
    

      YS Mining's decision to withdraw its bid was the result of several
      factors, including the recommendation of the Board of Directors of
      Tagish Lake to reject the YS Mining offer, notwithstanding that the cash
      consideration offered by YS Mining was 20% higher that the cash
      consideration offered by New Pacific Metals Corp.
    

      About YS Mining
    

      YS Mining is a non-reporting corporation organized under the laws of
      British Columbia.  Approximately 41% of the issued and outstanding
      shares of YS Mining are owned by Yukon-Nevada Gold Corp., a reporting
      issuer in the provinces of British Columbia, Alberta and Ontario, which
      trades on the Toronto Stock Exchange under the symbol "YNG". 
      Approximately 59% of the issued shares of YS Mining are owned by
      Northwest Nonferrous International Investment Company, of China. 
      Currently, YS Mining holds (a) 10.7% of the issued and outstanding
      Tagish Lake shares and (b) approximately $3.4 million of secured
      and unsecured Tagish Lake debt, making it Tagish Lake's largest
      shareholder and largest creditor.
    

      By Order of the Board of Directors
    

      YS Mining Company Inc.
    




p align="justify"Graham Dickson, President & CEObr/[phone]/p

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