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YUBA WESTGOLD REPORTS NET LOSS FOR 1991

 YUBA WESTGOLD REPORTS NET LOSS FOR 1991
 MARYSVILLE, Calif., March 9 /PRNewswire/ -- Yuba WestGold, Inc.


(YWGI) today reported a net loss of $3.2 million, or $0.20 per share, for the year ended Dec. 31, 1991, compared with net income of $0.5 million, or less than $0.01 per share, in 1990. Revenues from gold sales in 1991 totaled $7.6 million, compared with $3.1 million in 1990.
 Results for 1991 are not directly comparable to 1990 due to the Aug. 9, 1990, acquisition by Yuba WestGold of all of the shares of WestGold Placer, Inc., which gave it 100 percent ownership of Yuba Placer Gold Company, the operating unit of Yuba WestGold, Inc.; and an accident that rendered Yuba WestGold's dredge inoperative during the second half of 1990. Reported results for periods prior to Aug. 9, 1990, reflect WestGold Placer's two-thirds interest in Yuba Placer Gold Company.
 Yuba WestGold vice president, William E. Brooks, stated: "Yuba's gold reserves increased to 457,659 ounces in 1991 from 447,307 ounces in 1990, after accounting for the depletion of 21,500 ounces in 1991. The increase in reserves is the result of exploration that has also defined an extension of the main gold-bearing zone well outside of previously reported proven and probable reserves. Management continues to focus on operating efficiencies and cost reduction; however, it is unlikely that these efforts will generate positive cash flow at current gold prices."
 Yuba WestGold is engaged in the dredging of gold and other precious metals located along the Yuba River in Yuba County, Calif.
 YUBA WESTGOLD, INC.
 Consolidated Statements of Operations
 (Amounts in thousands, except per share amounts)
 Three Nine
 Periods Year months months
 ended 12/31/91 12/31/90 12/31/89 9/30/89
 Revenues
 Net sales $7,558 $3,064 $1,683 $4,791
 Business interruption
 insurance proceeds --- 2,450 --- ---
 Inverse condemnation
 suit settlement 600 1,441 --- ---
 Other income 139 351 46 132
 Total 8,297 7,306 1,729 4,923
 Costs and expenses:
 Operating expenses 8,106 5,271 1,297 4,090
 Depletion, depreciation
 and amortization 1,982 703 422 1,265
 Interest expense 1,446 851 77 283
 Total 11,534 6,825 1,796 5,638
 Income (loss) bef. inc.
 taxes and extraordinary
 item (3,237) 481 (67) (715)
 Prov. for inc. taxes --- 193 --- ---
 Inc. (loss) bef. extra-
 ordinary item (3,237) 288 (67) (715)
 Extraord. credit from net
 oper. loss carryforwards --- (193) --- ---
 Net income (loss) (3,237) 481 (67) (715)
 Inc. (loss) attributable
 to com. stock bef. extraord.
 item per share $(.20) --- --- $(.02)
 Net inc. (loss) attrib-
 utable to com. stock
 per share $(.20) --- --- $(.02)
 Shares used in the
 calculation of per
 share amounts 20,589 34,788 43,945 43,945
 -0- 3/9/92
 /CONTACT: William E. Brooks, 916-742-7164, or Eileen H. Kirrane, 712-279-8787, for Yuba WestGold/
 (YWGI) CO: Yuba WestGold, Inc. ST: California IN: MNG SU: ERN


KD -- NY086 -- 6645 03/09/92 19:15 EST
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Date:Mar 9, 1992
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