Griffin Notifies Yukon Zinc of No Amendment to Griffin Proposal

Yukon Zinc Corporation (TSX VENTURE:YZC) ("Yukon Zinc" or "the Company")
announces today that it has received formal notification from Griffin Mining
Limited ("Griffin") that it does not intend to increase its offer for Yukon Zinc
shares (see April 21 and April 28, 2008 News Releases). The Board will now meet
on or about May 7, 2008, to determine whether to formally accept and recommend
to shareholders the proposal announced on April 28, 2008 of Jinduicheng and
Northwest to acquire all of the outstanding shares of Yukon Zinc.


Advisers and Counsel

Yukon Zinc's legal counsel and financial advisors are Lang Michener LLP and
Paradigm Capital Inc., respectively. The legal and financial advisers for
Jinduicheng and Northwest are Davies Ward Phillips & Vineberg LLP and BMO
Capital Markets, respectively.


About Yukon Zinc

Yukon Zinc is a TSX Venture Exchange listed company based in Vancouver. It is
focused on development of its silver-rich Wolverine Project in southeast Yukon
and its large exploration land holdings in the Finlayson and Rancheria
Districts. A bankable feasibility study was completed for the Wolverine Project
by Wardrop Engineering in January 2007 indicating favourable project economics.
The Project has all of its main development permits and enjoys strong support
from the Yukon Government and its local First Nations communities.


Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of
applicable Canadian securities laws concerning the business, operations and
financial performance and condition of Yukon Zinc, including proposals by
Griffin and Northwest/Jinduicheng. Forward-looking statements include, but are
not limited to, statements with respect continuation of the Griffin Proposal and
the proposal by Northwest/Jinduicheng, to the future price of metals, the
estimation of mineral reserves and resources, the realization of mineral reserve
estimates, the timing and amount of estimated future production, costs of
production, capital expenditures, costs and timing of the development of new
deposits, success of exploration activities, permitting time lines, hedging
practices, currency exchange rate fluctuations, requirements for additional
capital, government regulation of mining operations, environmental risks,
unanticipated reclamation expenses, timing and possible outcome of pending
litigation, title disputes or claims and limitations on insurance coverage.
Generally, these forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".

Forward-looking statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of Yukon Zinc to be materially different from those
expressed or implied by such forward-looking statements, including but not
limited to: risks related to the integration of acquisitions; risks related to
international operations; risks related to joint venture operations; actual
results of current exploration activities; actual results of current reclamation
activities; conclusions of economic evaluations; changes in project parameters
as plans continue to be refined; future prices of metals; possible variations in
ore reserves, grade or recovery rates; failure of plant, equipment or processes
to operate as anticipated; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or financing or in
the completion of development or construction activities. Although Yukon Zinc
has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements, there may
be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Yukon Zinc does not undertake to update
any forward-looking statements that are incorporated by reference herein, except
in accordance with applicable securities laws.
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