YUKON ZINC CORPORATION

Yukon Zinc Corporation
Notes to the Consolidated Financial Statements
Years ended December 31, 2006 and December 31, 2005
14. Share Capital, continued
e) Stock Options
As at December 31, 2006 and December 31, 2005, the Company had one stock-based compensation plan
(the "Plan") allowing for the reservation of common shares issuable under the Plan to a maximum 10% of the
number of issued and outstanding common shares at any given time. The vesting of each option grant is
determined by the Board of Directors. When an employee is terminated or resigns, the date of expiry of the
options held is generally revised to expire ninety days after the final day of employment. The options with
revised expiry dates are disclosed below. All stock options that were outstanding at the time of the
Arrangement (Note 7) are subject to the Pacifica Commitment as indicated in the tables below.
Expiry Exercise Balance Cancelled Revised Balance
Date Price 31-Dec-05 Granted Exercised or Expired Expiry 31-Dec-06
$ # # # # # #
February 8, 2006 0.40 100,000 - (100,000) - - -
November 28, 2006 0.10 40,000 - (40,000) - - -
February 1, 2007 0.27 - - - - 50,000 50,000
May 14, 2007 0.12 470,000 - (220,000) - - 250,000
June 30, 2007 0.33 - - - - 470,000 470,000
November 25, 2007 0.10 170,000 - (50,000) - - 120,000
April 1, 2008 0.11 420,000 - - - - 420,000
November 4, 2008 0.28 550,000 - (100,000) - (150,000) 300,000
January 21, 2009 0.38 250,000 - - - - 250,000
January 30, 2009 0.39 350,000 - - (250,000) (100,000) -
June 21, 2009 0.27 3,170,000 - (190,000) (150,000) (270,000) 2,560,000
August 11, 2009 0.27 450,000 - - - - 450,000
September 13, 2009 0.27 50,000 - - - - 50,000
Subject to Pacifica commitment 6,020,000 - (700,000) (400,000) - 4,920,000
February 1, 2007 0.27 - - - - 305,000 305,000
March 1, 2007 0.34 - - - - 380,000 380,000
June 30, 2007 0.33 - - - - 595,000 595,000
January 14, 2010 0.28 3,505,000 - - (120,000) (630,000) 2,755,000
February 1, 2010 0.28 1,355,000 - (650,000) (650,000) - 55,000
February 15, 2010 0.28 500,000 - - - - 500,000
March 2, 2010 0.28 300,000 - - - - 300,000
April 1, 2010 0.32 175,000 - - - - 175,000
May 26, 2010 0.27 450,000 - - - - 450,000
September 7, 2010 0.22 300,000 - - - - 300,000
January 13, 2011 0.40 - 5,658,000 - (815,000) (650,000) 4,193,000
February 8, 2011 0.58 - 240,000 - - - 240,000
May 18, 2011 0.24 - 3,700,000 - - - 3,700,000
July 18, 2010 0.26 - 600,000 - - - 600,000
October 5, 2011 0.25 - 1,400,000 - - - 1,400,000
October 11, 2011 0.27 - 700,000 - - - 700,000
November 9, 2011 0.37 - 420,000 - - - 420,000
Total 12,605,000 12,718,000 (1,350,000) (1,985,000) - 21,988,000
Weighted average exercise prices $0.267 $.0326 $0.249 $0.342 $0.270
Weighted average contractual life of options outstanding - years 3.3
Pacifica Resources commitment paid on exercise $16,104
Pacifica Resources commitment $113,191
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