KS Klondike Silver Corp

Klondike Silver Corp. (TSX VENTURE: KS) (the 'Company') is pleased to report that its 2009 exploration programs, focusing mainly on testing targets generated last year in the Sandon Silver Camp of south-central British Columbia, has begun.

Klondike Silver is the dominant landholder in the Slocan Camp, which has produced more than 24 million ounces of silver plus by-product base metals since the late 1800s. The land package includes ten historic mines and a 100-tonne-per-day mill.

The Company's 2008 exploration efforts were divided into a regional program focused on five main project areas - Hewitt-Van Roi, Silverton Creek, Jackson Basin, Payne and Mount Con - and surface and underground programs focused on targets and past-producing mines in close proximity to the fully permitted Sandon mill. The 2008 regional programs included soil geochemical surveys covering an area of about 1,400 hectares, several ground geophysical surveys, a contracted prospecting program, geological mapping, ground acquisition and a limited trenching program.

Most of the Company's recent exploration has focused on the Wonderful-Sandon Area, which includes several past-producers in the Slocan camp, notably the Silvana, Ruth Hope and Wonderful mines. This work concentrated on the Wonderful vein system, which was explored by geochemical and geophysical programs followed by diamond drilling and trenching. Underground exploration, drilling and drifting was also conducted to explore underground veins and their potential extensions.

- In 2009, the Wonderful-Sandon Area will be further explored by surface programs including trenching. Additional underground programs are also underway. Systematic geological mapping of creeks and road exposures is a priority for the 2009 season as little modern geological mapping has been done in the Sandon Area. Surface exploration in 2009 will test geochemical targets identified in 2008, notably in the area south of Carpenter Creek.

The Cody Creek Area east of the Wonderful-Sandon Area is a high priority target as it contains several silver-rich occurrences and occurs along strike of the larger past-producers in the Sandon Camp. Work in 2008 included a soil geochemical program that identified silver-lead anomalies, and prospecting that identified old workings.

- In 2009, mapping, ground geophysics and trenching of at least four newly identified silver-lead anomalies are proposed for the Cody Creek Area.

REGIONAL EXPLORATION TARGETS

The 2009 regional exploration program will focus on the best targets identified during the 2008 season in each of the five main discrete areas.

For a regional exploration map of the Slocan Silver Camp click on the following link:

http://www.klondikesilver.com/i/pdf/08-07-02-Slocan-3.pdf

- Hewitt-Van Roi: This area includes the past-producing Hewitt and Van Roi Mines, which produced about 400,000 tonnes averaging 300.5 g/t silver and 2.8% lead (Van Roi) and 529 g/t silver and 1.5% lead (Hewitt). Soil geochemical programs identified several coincident silver and lead anomalies that may define an unexplored portion of the Hewitt-Van Roi vein systems. A gold anomaly and separate zinc and lead anomalies were also discovered. In 2009, a ground geophysical program is proposed to better define the central silver-lead anomaly west of the Hewitt Mine. Permits to trench the separate silver, zinc and lead anomalies have been submitted for approval.

- Silverton Creek: Past exploration of this rugged area south of the Sandon camp focused mainly on the ridges and testing along strike of occurrences and past-producers (Ivanhoe, Canadian, Wakefield and Adams Lode). The 2008 program in this area was limited to the ridge and north slopes. Further mapping and prospecting are proposed for the southern part of the area, on the southern slopes of Selkirk Ridge, along with a soil program on the north slopes of this ridge to test for mineralization between known vein systems.

- Jackson Basin: This area includes the past-producing Jackson Mine, the largest producer on the property, the Stenson area and several high-grade veins located to the west. The 2008 program successfully identified a high-grade silver-lead-zinc vein near the main Jackson portal, several small vein occurrences just west of the mine workings and along a prominent silver-lead soil anomaly and a large silver anomaly 600 meters north of the Jackson Mine workings. Further work including trenching is planned for the 2009 season.

- Payne Mountain: This area encompasses several past-producing deposits, including Payne (110,605 tonnes averaging 1,058 g/t silver and 15.7% lead). The 2008 program generated several new prospects, including the Ridge anomaly, that warrant further evaluation through mapping and prospecting, ground geophysical surveys, trenching and geochemical soil surveys.

- Mount Con: Located 5 km east of Sandon, this area has few-past producing mines. Prospecting and soil geochemistry in 2008 focused on rediscovering two historic showings, Utica-Noonday and Silver Apex. Zinc mineralization on trend with Utica Noonday was discovered by prospecting in 2008, along with small exploration pits and shallow adits northeast of the discovery. Further ground work is planned for this season, including mapping and prospecting.

The Qualified Person for the purpose of National Instrument 43-101 is Dr. Trygve Hoy, PGeo, PhD who has read and approved the contents of this news release.

About Klondike Silver

Klondike Silver has established a regional exploration office in Roseberry to direct the regional program. In addition to these core assets in the Slocan Silver Camp, the Company holds projects in the historic Gowganda and Elk Lake silver camps of Ontario, silver-rich polymetallic targets in the Klondike district of the Yukon Territory, and has optioned or acquired concessions in under-explored historic mineral districts of Mexico.

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contacts: Corporate Inquiries: Klondike Silver Corp. Kevin Hull or Alan Campbell (604) 685-2222 (604) 685-3764 (FAX) info@klondikesilver.com www.klondikesilver.com Or visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox interviews with Company President, Richard Hughes AGORACOM Investor Relations KS@agoracom.com http://www.agoracom.com/ir/KlondikeSilver