Yukon Zinc Closes C$8 Million Financing

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Yukon Zinc Corporation (TSX VENTURE:YZC) is pleased to announce that it has
closed the non-brokered private placement financing ("the Offering") announced
on March 11, 2008. The closing consisted of 59,259,259 Units at a price of
$0.135 per Unit for gross proceeds of $8,000,000. Each Unit consists of one
common share and one-half share purchase warrant. Each full warrant entitles the
holder to purchase one common share for $0.17 for a two year period that expires
on March 19, 2010. The securities sold under the Offering are subject to a
mandatory hold period that expires on July 20, 2008. 


The $8 million will eliminate a current working capital deficit and provide
additional working capital to maintain equipment purchase contracts and the
development schedule and other activities related to the Company's Wolverine
Project. Yukon Zinc is currently maintaining the site in a state of readiness
for resumption of development activities. Discussions with potential investors
continue to progress, as previously reported.


The Units were sold pursuant to applicable securities law exemptions in
jurisdictions outside of Canada. As a result of the Offering, Resource Capital
Fund IV L.P. of Denver, Colorado has become an insider of the Company holding
approximately 12.8% of the issued common shares of the Company. 


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. 


The securities comprising the Offering will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or any applicable exemption from the registration
requirements.


This news release contains forward-looking statements based on assumptions and
judgments of management regarding future events or results that may prove to be
inaccurate as a result of failure to complete the proposed financing, failure to
obtain necessary regulatory or shareholder approvals, and other risk factors
beyond its control and actual results may differ materially from the expected
results.


12G: 82-4603