KS Klondike Silver Corp

Klondike Silver Corp. (TSX VENTURE:KS) (the 'Company') is pleased to announce
that recent exploration programs have discovered new silver-rich prospects while
also confirming the potential of targets similar to past-producing mines within
the Slocan Silver Camp of south-central British Columbia. 


The 2008 exploration program focused on testing several project areas that
encompass past-producing mines.


Map of Slocan Silver Camp -
http://www.klondikesilver.com/i/pdf/08-07-02-Slocan-3.pdf 


JACKSON BASIN AREA

The Jackson Basin Area, includes the historic Jackson Mine discovered in 1892.
Mining continued until 1955, followed by intermittent operations until 1975.


Trenching is planned to begin in July along with testing those areas of the
Jackson Basin believed to potentially host high-grade silver zones. The main
objectives of the 2008 exploration program in the Jackson Basin Area was to
determine the extent of the main vein to the east of the Jackson Mine. The main
lode exploited in the past is believed to extend as far west as the Northern
Belle Crown Grant on the northeast side of the Mt. Payne which is also on the
property.


Past programs conducted east of the Jackson Mine have generated encouraging
results that revealed a thick breccia zone with massive sulphides throughout,
cross-cut by quartz veins and hosted in a limestone of the Slocan Group.


About 2.5 meters of the breccia zone is visible in outcrop. Further exploration
is required to determine its orientation and true thickness.


- Samples collected directly from the breccia zone returned values of 79 g/t
silver, 3.25% lead and 2.16% zinc. A vein crosscutting the breccia zone was also
sampled and returned 351 g/t silver, 10.29% lead and 8.1% zinc. 


The Company also explored other portions of the Jackson Basin, which revealed
potential for high-grade silver zones that may be further tested in future
programs.


The Company is also conducting an underground exploration program focused on the
western extent of the Main Lode hosting the Silvana Mine, the second largest
past-producer in the Slocan Silver Camp. The goal is to define resources that
can be mined and processed in the Company's fully permitted 100-tonne-per-day
flotation mill in the nearby historic town of Sandon. The cash flow generated
from test-mining and custom mining would be used to fund ongoing exploration
programs. 


The Company would also like to announce it has arranged a Private Placement for
up to 10,000,000 flow-through or non flow-through units priced at $0.06 per
unit, for total proceeds of $600,000. Each unit will consist of either one flow
through or one non-flow through common share and one non-flow through,
non-transferable share purchase warrant entitling the holder to purchase one
additional common share for a period of two years at a price of $0.10 per share.
In accordance with Exchange policies, finders' fees may be paid on a portion of
the funds raised. The private placement is subject to regulatory approval. The
proceeds of the private placement will be used for exploration programs,
property option payments and general working capital.


The Qualified Person for the purpose of National Instrument 43-101 is Freeman
Smith, PGeo, who has reviewed the technical contents of this news release.


About Klondike Silver:

Klondike Silver Corp. has assembled a quality portfolio of silver properties in
historic mineral districts in North America, and is applying advanced
exploration technologies to add value to these core assets. Klondike Silver is
reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous
Klondike district of Yukon Territory. The Company owns a 100 TPD fully
operational flotation mill in Sandon, BC, which is currently processing material
from one of its Yukon properties and local mines in the historic Slocan Silver
Camp.


Klondike Silver is a member of the Hughes Exploration Group of Companies and is
led by a team with a stellar track record of discovery and development in
Canada.


Visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox
interviews with Company President, Richard Hughes.


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.

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