All previous operators employed Chemex Labs in Vancouver for their analytical work. In Yukon Gold’s 2006 program, all core sampling, collection of geotechnical data and core logging was done on site. Mineralized intervals were split and one-half was sent to ALS Chemex Labs, North Vancouver, B.C. Blank samples consisting of barren limestone were routinely inserted into the sample stream. Duplicate samples collected by quartering core were inserted into the sample stream. Prepared pulps and coarse rejects were sent as check samples to Acme Analytical Laboratories Ltd. in Vancouver. Reanalysis for results greater than 1% copper, lead or zinc were routinely carried out. The drill core is stored on the property at the camp location.

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At the laboratory, core samples were weighed, dried and crushed to 70% minus 2 mm, before a 250 g split was taken and pulverized to better than 85% minus 75 microns. A 10 gram split of the pulverized fraction was dissolved in aqua regia and analyzed for 50 elements by a combination of ICPMS and ICPAES techniques. Over limit copper, lead, zinc and silver values were determined using atomic absorption spectroscopy (AAS). A 30 gram split was analyzed for gold with a fire assay preparation and AAS finish. ALS Chemex operates according to the guidelines set out in ISO/IEC Guide 25 “General requirements for the competence of calibration and testing laboratories” and the company is certified to ISO 9002 by KPMG in Canada and other countries. Duplicate analyses were performed by Acme Analytical Laboratories in Vancouver using a process similar to Chemex.

For the 2008 program samples collected for the metallurgical test are prepared by splitting the core in half and subsequently splitting the remaining core to prepare a ¼ split. Individual samples of approximately one metre from mineralized intersections were prepared in this manner. Both the ½ split core and ¼ split-core samples were sent to G&T Metallurgical Services Ltd. of Kamloops British Columbia. The ¼ split core was analyzed by G&T Metallurgical Services for Cu, Pb and Zn. A composite of individual samples which represents the estimated grade of the resource is being prepared for the metallurgical test work. G&T Metallurgical Services Ltd. is an ISO-9000:2000 certified laboratory with BSi registration. As a check on analyses and to provide Ag and Ag analyses, the coarsely crushed rejects from the initial ¼ split core sample preparation by G&T Metallurgical Services Ltd. were sent to ALS Chemex Labs in Vancouver British Columbia to be analyzed for Cu, Pb, Zn, Ag and Au using the identical methods as used in 2006 and 2007. In addition as a further check on analyses separate ¼ splits of core from intersections not destined for the metallurgical composite were sent separately to G&T Metallurgical Services Ltd and ALS Chemex.

Though the property is without known mineral reserves, Yukon Gold believes that exploration potential within the Marg Property is good. Presently the hydroelectric power grid terminates at Keno City some 50km to the southwest and water is available from the Keno Ladue River which flows through the property.

During the summer of 2006, we undertook an exploration program at the Marg Property to extend the currently known mineralization toward a target of 9 to 10 million tons, which we believe to be the required threshold to proceed with the next stage which includes a definitive feasibility study. The drilling results of the nine holes drilled at the Marg Property in the summer of 2006 are generally consistent with the previous results from prior drilling programs reflected in the Company’s mineral report. We continue to hit mineralized material to the west of known resources.

In December of 2007, Yukon Gold announced the results of the 2007 diamond drill program. With a skid mounted rig, 2,704 metres were drilled in 7 holes to test the extension of the known mineralization.

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Highlights of the drill results are outlined below:

This drill program continued to expand the limits of the Marg mineralization down dip and along strike, which is very encouraging.

An additional 603 meters were drilled with a heli-portable rig to test outlying targets defined by soil geochemical sampling and the VTEM survey which was flown over the property in 2006. Two of these holes were lost in deep overburden. A third hole, offset from the Jane Zone, intersected a carbonate rich exhalative horizon. Such exhalative horizons are often associated with mineralized sulphide horizons and this is encouraging. The last hole intersected strata with thin lamellae of pyrite and pyrrhotite but with no copper or zinc values. There still are 17 other VTEM anomalies identified on the property that are associated with soil geochemical anomalies which have to be drill tested.

In February 2008, Yukon Gold announced the results of an internal review of the 100% owned Marg Deposit dated February 1, 2008.

The internal review postulates that a positive production decision might be feasible based on a 2700 tonne per day mining and processing operation over a minimum mine life of seven (7) years. The internal review, amongst other items, recommends metallurgical test work and further exploration to expand the resource base which will provide additional mine life.

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On March 10, 2008 the Company entered into a contract with a global mining consultancy business for a scoping study and to prepare a report pursuant to the terms of Canadian National Instrument 43-101, regarding the Marg Deposit at an estimated cost of between $139,000 (CDN$140,000) and $148,928 (CDN$150,000). The foregoing internal review was based on the 43-101 Technical Report by Carne/Giroux, July 2007, with “indicated” resources of 1.72M tons of 1.97% Copper, 2.40% Lead, 4.59% Zinc, 59.72g/t Silver, 0.95g/t Gold and “inferred” resources of 4.8M tons of 1.81% Copper, 2.28% Lead, 4.64% Zinc, 54.47g/t Silver, 0.77g/t Gold at a 1% copper cut off. This report also expressed the belief that exploration potential of the Marg Deposit is very high.

Again, the reader is cautioned that the terms “indicated” and “inferred” are not terms that are recognized by the SEC’s guidelines for disclosure of mineral properties; however, they are recognized defined terms under Canadian disclosure guidelines. Generally, an “indicated” or “inferred” estimate does not rise to the level of certainty required by SEC guidelines. Also, the internal review was based on comparisons with proximate deposits and associated feasibility studies at current metal prices, estimated trucking and shipping costs, industry treatment and refining costs, average metallurgical recoveries and concentrate grades from five VMS deposits. The internal review has not been analyzed by an independent Qualified Person and therefore the results of this review should not be relied upon. Yukon Gold believes that the internal review provides an indication of the potential of the Marg Deposit and is relevant to ongoing exploration.

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The Mount Hinton Property

The Mount Hinton Property consists of 273 mineral claims covering approximately 14,000 acres in the Mayo Mining District of Yukon, Canada. Our claims, held in the name of our wholly-owned subsidiary, “Yukon Gold Corp” are registered in the Mining Recorders Office in the Mayo Mining District of the Province of Yukon, Canada and give us the right to explore and develop minerals from the property covered by the claims. The claims are located adjacent to the Keno Hill Mining Camp, approximately 6 miles southeast of Keno City and about 37 miles northeast of the village of Mayo Yukon, Canada.

For a list of the Mount Hinton Claims held by Yukon Gold, see “LIST OF MOUNT HINTON CLAIMS.”

Agreement with Hinton Syndicate

Our wholly-owned Canadian subsidiary, YGC, holds an option from the Hinton Syndicate (the “Hinton Option Agreement”), a private syndicate consisting of four individuals, with whom we have an agreement to acquire a 75% interest in the 273 mineral claims covering approximately 14,000 acres in the Mayo Mining District located in Yukon, Canada.

YGC must make scheduled cash payments and perform certain work commitments to earn up to a 75% interest in the mineral claims, subject to a 2% net smelter return royalty in favor of the Hinton Syndicate. The terms of the Hinton Option Agreement are outlined below. The Hinton Option Agreement was entered into in July of 2002 and amended as of July 7, 2005.

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The schedule of Property Payments and Work Programs, and the status of payment as disclosed in our annual audited financial statements for the year ended April 30, 2008 is as follows:

WORK PROGRAM-expenditures to be incurred in the following periods;

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Provided all Property Payments have been made that are due prior to the Work Program expenditure levels being attained, YGC shall have earned a:

YGC earned a 50% interest in the claims covered by the Hinton Option Agreement as at October 31, 2007. In some cases, payments made to service providers include amounts advanced to cover the cost of future work. These advances are not loans but are considered “incurred” exploration expenses under the terms of the Hinton Option Agreement. Section 2.2(a) of the Hinton Option Agreement defines the term, “incurred” as follows: “Costs shall be deemed to have been “incurred” when YGC has contractually obligated itself to pay for such costs or such costs have been paid, whichever should first occur.” Consequently, the term, “incurred” includes amounts actually paid and amounts that YGC has obligated itself to pay. Under the Hinton Option Agreement there is also a provision that YGC must have raised and have available the Work Program funds for the period from July 7, 2005 to December 31, 2006, by May 15 of 2006. This provision was met on May 15, 2006.

All Property Payments and Work Program expenditures due as of the date of this prospectus have been made and incurred.

The Hinton Option Agreement contemplates that upon the earlier of: (i) a production decision or (ii) investment of $4,906,610 (CDN$5,225,000) or (iii) YGC has a minority interest and decides not to spend any more money on the project, YGC’s relationship with the Hinton Syndicate will become a joint venture for the further development of the property. Under the terms of the Hinton Option Agreement, the party with the majority interest would control the joint venture. Once the 75% interest is earned, as described above, YGC has a further option to acquire the remaining 25% interest in the mineral claims for a further payment of $4,964,257 (CDN$5,000,000).

The Hinton Option Agreement provides that the Hinton Syndicate receive a 2% “net smelter returns royalty.” In the event that we exercise our option to buy the entire interest of the Hinton Syndicate (which is only possible if we have reached a 75% interest, as described above) then the “net smelter return royalty” would become 3% and the Hinton Syndicate would retain this royalty interest only. The “net smelter returns royalty” is a percentage of the gross revenue received from the sale of the ore produced from our mine less certain permitted expenses.

The Hinton Option Agreement entitles the Hinton Syndicate to recommend for appointment (but not nominate) one member to the board of directors of Yukon Gold.

The Hinton Syndicate members each have the option to receive their share of property payments in stock of Yukon Gold at a 10% discount to the market. YGC and Yukon Gold also have the option to pay 40% of any property payment due after the payment on January 2, 2006 with common stock of Yukon Gold. As of July 7, 2006, Yukon Gold issued to the Hinton Syndicate 43,166 shares of its common stock, based upon a valuation adopted by the Board of Yukon Gold of $1.24 (CDN$1.39) per share, as partial payment of the July 7, 2006 Property Payment. On July 7, 2006 the Company issued 43,166 common shares and paid $80,501 (CDN$90,000) in cash in settlement of the property payment due on July 7, 2006 on the Mount Hinton Property. The shares represented 40% of the total $134,168 (CDN$150,000) payment and were valued at $1.24 (CDN$1.39) each. On July 7, 2007 the Company issued 136,364 common shares in settlement of a property payment on the Mount Hinton property. The shares represent $57,252 (CDN$60,000) which is 40% of the contracted payment and were valued at $0.42 (CDN$0.44) each. The balance 60% payment was paid in cash. On July 7, 2008, the Company issued 476,189 common shares in settlement of a property payment on the Mount Hinton property. These shares represent $59,572 (CDN$60,000) which is 40% of the contracted payment and were valued at $0.126 (CDN$0.126) each. The Company paid the balance of the property payment, $89,537 (CDN$90,000), in cash.

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The Hinton Option Agreement pertains to an “area of interest” which includes the area within ten kilometers of the outermost boundaries of the 273 mineral claims, which constitute our mineral properties. Either party to the Hinton Option Agreement may stake claims outside the 273 mineral claims, but each must notify the other party if such new claims are within the “area of interest.” The non-staking party may then elect to have the new claims included within the Hinton Option Agreement. As of December 11, 2006, there were an additional 24 claims staked, known as the “Gram Claims” which became subject to the Hinton Option Agreement. Subsequent to April 30, 2008 there were an additional 18 claims staked, known as the “Gram Claims” which became subject to the Hinton Option Agreement.

The Hinton Option Agreement provides both parties (YGC and the Hinton Syndicate) with rights of first refusal in the event that either party desires to sell or transfer its interest.

Under the Hinton Option Agreement, the Hinton Syndicate is responsible for any environmental liability claims arising from the status of the property prior to the effective date of the Hinton Option Agreement.

Under the terms of the Hinton Option Agreement three of the syndicate members are entitled to bid on work we propose to carry out and if their price is competitive they are entitled to do the work. There is no requirement in the Hinton Option Agreement that these parties perform exploration work.

Exploration at the Mount Hinton Property

Yukon Gold started its exploration efforts on the property in 2002 and Archer Cathro & Associates (1981) Limited was retained to manage this work. Initially this consisted of geochemical soil sampling, prospecting, limited hand trenching and re-sampling of old workings as well as minor bulldozer trenching, excavator trenching and road building. In 2006 heavy equipment was used to excavate trenches and prepare drill pads. Two reverse circulation drill holes were also attempted. The drill was unable to complete either due to a combination of operator inexperience and mechanical problems and the drill program was terminated.

Though the property is without known mineral reserves, Yukon Gold believes that exploration potential within the Mount Hinton Property is good. Presently there are no standing facilities or infrastructure on the property. The hydroelectric power grid terminates at Keno City, approximately 10km to the west and water is available from the various creeks that flow from the property. Mount Hinton has elevations of approximately 6,500 ft. above sea level. Our ability to conduct surface exploration at this latitude and elevation is limited to the period each year from late May to early October.

During the summer of 2006, we undertook an exploration program to delineate the vertical and lateral extent of some of the known vein structures at the site utilizing a reverse circulation drill and to carry out the geochemical surveys, prospecting and trenching that would help identify additional mineralized targets for future drilling and exploration programs. A second objective of the summer 2006 exploration program was to determine whether it would be more effective and feasible to evaluate the deposits by diamond drilling from an underground adit/ramp and where best to locate this underground exploration if feasible.

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The 2006 summer program commenced on July 5, 2006 and was terminated on August 20, 2006 due to mechanical problems with the drilling equipment and difficulties in drilling through thick overburden. Prior to termination of the program, over 3000 soil samples were taken to identify potentially mineralized targets in unexplored areas of the property but generally in the headwaters of successful placer mining operations. In addition, at least six new veins were exposed or partially exposed by road construction during this year’s program. New road construction totaling 3.2 km created direct access to new surface drill sites and to a potential portal site from which underground exploration and diamond drilling could be considered.

On November 28, 2007, Yukon Gold announced the results of its 2007 trenching program at the Mount Hinton Property. Five trenches were excavated with heavy equipment to a maximum depth of 5m, for a combined length of 1.39km. Four of the trenches were located in the floor of McNeil Gulch and sited to be along strike from known veins exposed on the north face of Mount Hinton and a newly discovered vein on the ridge opposite Mount Hinton. The trenches are approximately a kilometre from any previously known veins and vary between 50m and 500m apart.

Trench #4 exposed a highly mineralized vein that has a weighted average grade of 1.27g/t Au, 116g/t Ag and 1.7% Pb over 3.1m of chip sampling. Grab samples of the coarse grained galena, arsenopyrite and tetrahedrite contain 2.25, 2.67, 3.92g/t Au and 6,900 3,900 11,397g/t Ag respectively.

These trenches, in an area that was never previously tested, are encouraging and indicate that the mineralized system at Mount Hinton has a considerably longer strike extent than previously thought. Veins now have been found over a two kilometer strike length.

In February of 2008 the Company elected to defer exploration work commitments in 2008 on the Mount Hinton property into 2009, as it is permitted to do under the Hinton Option Agreement.

REGULATIONS GOVERNING MINING IN CANADA

GOVERNING LAW

The mining industry in Canada operates under both federal and provincial or territorial legislation governing the exploration, development, production and decommissioning of mines. Such legislation relates to such matters as the method of acquisition and ownership of mining rights, labor, health and safety standards, royalties, mining and income taxes, exports, reclamation and rehabilitation of mines, and other matters. The mining industry in Canada is also subject to legislation at both the federal and provincial or territorial levels concerning the protection of the environment. Legislation imposes high standards on the mining industry to reduce or eliminate the effects of waste generated by extraction and processing operations and subsequently deposited on the ground or emitted into the air or water. The design of mines and mills, and the conduct of extraction and processing operations, are subject to regulatory restrictions. The exploration, construction, development and operation of a mine, mill or refinery require compliance with environmental legislation and regulatory reviews, and the obtaining of land use and other permits, water licenses and similar authorizations from various governmental agencies. Legislation is in place for lands under federal jurisdiction or located in certain provinces and territories that provide for the preparation of costly environmental impact assessment reports prior to the commencement of any mining operations. These reports require a detailed technical and scientific assessment as well as a prediction of the impact on the environment of proposed mine exploration and development.

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Failure to comply with the requirements of environmental legislation may result in regulatory or court orders being issued that could result in the cessation, curtailment or modification of operations or that could require the installation of additional facilities or equipment to protect the environment. Violators may be required to compensate those suffering loss or damage by reason of mining activities and the violators, including our officers and directors, may be fined or, in some cases imprisoned if convictedcan exceed $1,000.

For these reasons, investors in this offering may have difficulty selling shares of our common stock.

We are an offense under such legislation. ProvincialEmerging Growth Company, subject to less stringent reporting and territorial mining legislation establishesregulatory requirements forof other publicly held companies and this status may have an adverse effect on our ability to attract interest in our common stock.

We are an Emerging Growth Company as defined in the decommissioning, reclamationJOBS Act. As long as we remain an Emerging Growth Company, we may take advantage of certain exemptions from various reporting and rehabilitation of mining propertiesregulatory requirements that are closed. Closure requirements relateapplicable to the protection and restoration of the environment and the protection ofother public safety. Some former mining properties must be managed for a long time following closure in order to fulfill regulatory closure requirements. The cost of closure of existing and former mining properties and, in particular, the cost of long-term management of open or closed mining properties can be substantial.

Mineral Exploration is subject to the Quartz Mining Act, the Quartz Mining Land Use Regulations, the Territorial Lands (Yukon) Act and the Yukon Environmental and Socioeconomic Assessment Act and Regulations as well as other Federal and Territorial Legislation. Additional permits relating to this legislationcompanies that are not emerging growth companies. We cannot predict if investors will be required before commencing mining operations at the Mount Hinton Property or the Marg Property

The Marg Property is surrounded by Category A lands of the First Nation of Na Cho Nyak Dun. An agreement will have to be reached with the First Nation of Na Cho Nyak Dun for any activity on its land.

With respect to the legislation, rules and regulations referred to above, we believe that we, and the Mount Hinton Property and the Marg Property, are currently in compliance in all material respects with applicable legislation, rules and regulations.

The Company does not foresee having to expend material amounts in order to comply with environmental laws during the exploration phase of its operations. The Company is obligated to restore surface disturbances created by exploration. These restoration efforts typically involve the back filling of trenches, pits, or other excavations created for purposes of exploration.

Underground exploration, which the Company contemplates in the future, will require additional cost related to the storage of excavated material. Until the Company knows the amount of material it will have to store, it cannot estimate this cost. There will be material costs of environmental compliance if the Company develops a mine in the future. However, the Company cannot reasonably estimate that environmental compliance cost at this time.

We have carried out all reclamation work, required by applicable regulations, wherefind our exploration disturbed the surface of the ground and to the best of our knowledge we are in full compliance with all rules and regulations.

It is not possible to estimate the cost of meeting the rules and regulations for a mining operation at this time. Those costs will only be determined when a mine plan and the required studies are completed to apply for a mining permit.

GOVERNMENT PERMITTING

The Company is committed to complying, and to its knowledge, is in compliance, with all governmental and environmental regulations. Permits from a variety of regulatory authorities are required for many aspects of mine operation and reclamation. Our exploration work is subject to the Mining Land Use Regulations of the Yukon Quartz Mining Act. This Act requires us to obtain permits prior to performing significant exploration programs. We are currently conducting exploration under a Class III Permit LQ002222 which is valid until October 30, 2012 for the Marg Property and a Class III Permit LQ00242 which is valid until August 18, 2013 for the Mount Hinton Property No other permits are required at this time or for the exploration work contemplated in the foreseeable future. Further permitting will be requiredcommon stock less attractive if we proposechoose to commence a mining operation, but cannot be applied for until ore reserves calculations and a mine plan are prepared.

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The Company cannot predict the extent to which future legislation and regulation could cause additional expense, capital expenditures, restrictions, and delays in the development of the Company’s Canadian properties, including those with respect to mining claims. The Company’s activities are not only subject to extensive federal and territorial regulations controlling the mining of and exploration for mineral properties, but also the possible effects of such activities upon the environment. Streams draining the property make their way to the Mayo River the Stewart River, both of which contain wildlife. We will be obligated to take steps to ensure that such streams draining the properties do not become contaminatedrely on these exemptions. If some investors find our common stock less attractive as a result of any choices to reduce future disclosure, there may be a less active trading market for our activities on the property. We are not aware of any environmental problems on the property as of the date of this prospectus. We have commenced the required baseline studies of drainage courses originating oncommon stock and our property in anticipation of underground development.stock price may be more volatile.

COPPER PRICE VOLATILITYMARKET FOR OUR COMMON STOCK

The volatility of the market price of copper

Our common stock is illustrated by thequoted on over-the-counter market. The following table which sets forth, for the periods indicated, the high and low of the London PM (afternoon) fix of theclosing sales price of copper in U.S. dollars per ounce (rounded to the nearest dollar), as published by Kitco Base Metals Company of Canada at www.Kitcometals.com, Copper Prices per pound (US$).

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On August 19, 2008 the price of copper on the spot market was $3.4736 per pound according to www.kitcometals.com

FISCAL YEAR

Our fiscal year end is April 30.

TRANSFER AGENT

Our transfer agent is Equity Transfer and Trust Services, Inc. with offices at 200 University Avenue, Suite 400, Toronto, Ontario M5H 4H1, phone number 416-361-0152, as transfer agent for our shares of common stock. The transfer agent is responsible for all record-keeping and administrative functions in connection with the common shares of stock.

EMPLOYEES

We have two full-time employees, our Corporate Secretary and our Chief Administrative Officer. We rely primarily upon consultants for certain services. Our President and Chief Executive Officer, our Chief Financial Officer, our Vice President - Corporate Development and our Vice President - Exploration are employed as consultants. Our Chief Executive Officer provides services on a full-time basis. Our Chief Financial Officer provides services on an “as needed” basis. We are not subject to a union labor contract or collective bargaining agreement.

STOCK OPTION PLAN

On October 28, 2003, we adopted the 2003 Stock Option Plan (the “2003 Plan”) under which our officers, directors, consultants, advisors and employees may receive stock options. The aggregate number of shares of common stock thatas provided by OTC Markets Group Inc. These prices reflect inter-dealer prices, without retain mark-up or commission, and may not represent actual transactions.