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YUKON BOARD OF DIRECTORS SIGN LETTER OF INTENT TO MOVE MANUFACTURING OPERATIONS TO JAMESTOWN; KELLY TO ADVISE

 ROSEVILLE, Minn., Jan. 5 /PRNewswire/ -- Yukon Energy Corporation (NASDAQ: YUKN) board of directors responded to a resolution passed by the Jamestown, N.D., city council and signed a letter of intent to move Yukon's manufacturing operations to Jamestown. Details of the proposed agreement include sale/leaseback of the equipment and the acquisition, through a private placement of Yukon's preferred stock, of buildings and land to house the company's manufacturing operations.
 Charles Eschweiler, chairman of the board of Yukon Energy Corporation, has solicited the advice and assistance of Gordon Kelly. Kelly has volunteered to help identify attainable goals and plan growth for Yukon. It is planned that Kelly will join Yukon as president and CEO at some point in the future.
 Kelly brings 15 years of direct experience as a manufacturer and distributor of furnaces to Yukon. He has a proven record of turning companies around and leading them to profitable growth. Kelly's past associations include positions as: vice president of Intercity Gas Corp.; manufacturing manager of Lennox Industries; president of Climate Master, Inc.; all manufacturers of HVAC equipment.
 Yukon Energy Corporation develops, manufactures and markets a variety of energy-efficient residential and light commercial furnaces. These furnaces employ advanced heating technology and proprietary features to achieve total home comfort with various patented, advanced technologies; gas and oil-fired furnaces, as well as multi-fuel furnaces which burn wood or coal in combination with oil, gas or electric fuel as standby. Products are sold to heating equipment wholesalers, large marketing partners under private-label manufacture, as well as direct to the consumer. The company's common stock is traded on NASDAQ small caps listing under the symbol YUKN. The company's address is 2733 Patton Road, Roseville, Minn., 55113. The company's phone number is 612-633-3115.
 -0- 1/5/93
 /CONTACT: Kent Knudson, vice president, corporate development, Yukon Energy Corp., 612-633-3115/
 (YUKN)


CO: Yukon Energy Corporation ST: Minnesota IN: OIL SU:

KH -- MN015 -- 1947 01/05/93 17:57 EST
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Publication:PR Newswire
Date:Jan 5, 1993
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