July 09, 2013
Klondike Silver Corp. Acquires the Past Producing Maddison-Argenta Project near Sandon, British Columbia

Klondike Commences Summer Exploration program

July 9th 2013: Klondike Silver Corp. (TSX-v symbol: KS) (Klondike) is pleased to announce the acquisition of the past producing Maddison-Argenta claim located on the south slope of Mount Payne, about 0.8 kilometres northeast of Sandon, British Columbia. This new acquisition is in the heart of Klondikes land package and holds significant exploration potential.

The mineral occurrences at the past producing Maddison-Argenta consisted of two fissure veins some 120 metres apart located at 1525 metres elevation. The historical development work up to the end of 1899 was reported to total 233 metres of tunnel, 29 metres of raising, and 15.8 metres of winze being dedicated to six adits in total (three adits on each vein). Of significance, the Madison vein (the southernmost vein) has been recorded as being one metre wide at the surface near one of the adits' portal (As recorded in MinFile No 082FNW038 at the following link: http://minfile.gov.bc.ca/Summary.aspx?minfilno=082FNW038).

Production records are incomplete for the property but 41 tonnes were mined from the Northern or Argenta vein in 1900 to produce 124,941 grams of silver and 3616 kilograms of lead. An additional 18 tonnes were mined in 1898 and 2.7 tonnes were shipped to the Trail smelter in 1911 but recoveries are not known. (As recorded in MinFile No 082FNW038).

Klondike has agreed to issue 500,000 common shares to the Optionor to earn 100% right, title and interest in the property. The terms of the agreement are subject to TSX Venture exchange approval.

Klondike has also commenced its summer exploration program which will involve surface and underground exploration as well as surface trenching.

About Klondike Silver Corp.

Klondike Silver Corp. has assembled a quality portfolio of silver properties throughout Canada, most notably, in the historic Slocan Mining District southeastern British Columbia. This historic camp has produced more than 24 million ounces of silver since the first discoveries in the late 1800s. Klondike Silver is the dominant land-holder controlling a majority of the historic camp and the fully permitted, 100% owned "Sandon Mining Complex". The Company owns the past-producing Silvana, Wonderful, and Hinckley Mines and several other properties with significant exploration potential.

For additional information please visit the company website www.klondikesilver.com.

You can also follow us on Twitter at @KlondikeSilver1

CONTACT INFORMATION
Corporate Inquiries:
Mark Luchinski: (604) 685-2222
Email: mark.luchinski@klondikesilver.com

On Behalf of the Board of Directors
Klondike Silver Corp.
"Richard Hughes"

Richard Hughes
President and Director

"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."

Cautionary note:

This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. 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. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
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