Klondike Gold Announces Upsize of Private Placement to $1,100,000

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, December 14, 2023 - Klondike Gold Corp. (TSX.V:KG; FRA:LBDP; OTCQB:KDKGF) ("Klondike Gold" or the "Company") is pleased to announce that further to its news release dated November 27, 2023, the offering has been increased by $350,000 to raise gross proceeds of up to $1,100,000, subject to final approval from the TSX Venture Exchange, in aggregate of flow-through funds (the "Flow-Through Placement") and non-flow-through funds (the "Non-Flow-Through Placement") by way of a non-brokered private placement (the "Financing").

The Flow-Through Placement will consist of the sale of flow-through units at a price of $0.09 per flow-through unit with each flow-through unit consisting of one common share which is a "flow-through" share for Canadian income tax purposes, and one share purchase warrant.

The Non-Flow-Through Placement will consist of the sale of units at a price of $0.08 per unit, with each unit consisting of one common share and one share purchase warrant.

Each share purchase warrant will entitle the holder to purchase one common share at a price of $0.18 per common share for a period of 2 years from the date of issuance.

A finder's fee on the gross proceeds of the Financing may be paid.

The Financing may close in tranches. The Company intends to use the proceeds from the Financing to continue exploration and development of the Company's Yukon properties, as well as for general working capital.

All securities will be subject to a four month and one day statutory hold period after the date of closing.

ON BEHALF OF Klondike Gold Corp.

"Peter Tallman"
Peter Tallman
President and CEO

FOR FURTHER INFORMATION:

Telephone: (604) 609-6138
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.com

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.

SOURCE: Klondike Gold Corp.