Klondike Silver Corp.: Drilling Update

All DDHs continue to intersect the Main Lode and parallel structures, as predicted in the 3D geological model and are intersecting stronger mineralization within those structures. The drill is presently drilling the seventh (7th) DDH of the original 13-hole drill pattern.

The core is being split by a diamond saw. Half of the sample is sent for assay and the remainder is placed back in the core box. The assay samples are being sent to ActLabs in Kamloops, B.C., an accredited laboratory (ISO/IEC 17025, Lab 790).

All samples are crushed to 80% passing 2 mm and then a 250 g riffle split is pulverized to 95% passing 105 um (lab code: RX1). A 0.25 g sample of the resulting pulp is dissolved in 4-acid (near total) digestion process. The solution is analyzed for 37 elements with an ICP-OES instrument (lab code: 1F2). If individual sample(s) obtain a silver assay result above 100 ppm (g/t) with the 1F2 method, the sample(s) are re-assayed for silver using a new 30 g of the sample pulp utilizing the fire assay with a gravimetric finish (lab code: 8-Ag). If individual sample(s) obtain a lead and/or zinc assay result(s) above 5,000 ppm (0.5%) with the 1F2 method, the sample(s) are re-assayed for those elements using sodium peroxide fusion (total digestion) and then re-run in an ICP-OES instrument (lab code: 8-Peroxide ICP-OES).

A series of QA/QC samples have been added to the sample stream at regular intervals including two (2) CRMs, blanks and duplicates.

About Klondike Silver

Klondike's Silvana Mine Zinc Silver Lead project is located in South Eastern B.C., 138 km north of the Trail B.C. smelter. The Company is actively exploring from underground, the western extension of the Silvana Mine, along the "Main Lode". The "Main Lode" is a 9 km structure which is the most prolific mineralized structure in the Slocan Mining Camp. There are 13 historical mines that are situated along the 9 km "Main Lode" structure which has produced 886,000 kg of silver, 117 million kg lead and 95 million kg of zinc so far (source: BC MINFILE).

Tom Kennedy says: "All drill holes to date intersect the Main Lode. The drill hole assays set out in this News Release demonstrate that we are intersecting stronger mineralization within the Main Lode and parallel structures. Klondike is on the right track. Our goal is to discover rich Silver Lead Zinc mineralization known to occur along the 9 km Main Lode".

The scientific and technical disclosure in this news release has been reviewed and approved by David Makepeace, P.Eng., Senior Geologist - Environmental Engineer for Micon International Limited, who is an independent consultant to the Company and Qualified Person as defined in NI 43-101.

This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Klondike Silver Corp. which may cause actual results, performance or achievements of Klondike Silver Corp. to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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