KS Klondike Silver Corp

Klondike Silver Corp. (TSX VENTURE:KS) (the 'Company') is pleased to announce
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. Recent exploration in the
Silverton Creek Area included testing of the east-west-trending Adams lode, host
to the past-producing Canadian and Ivanhoe Mines. Preliminary mapping has
focused on the Adams lode where it suddenly transitions southwest, with sampling
returning 420 g/t silver, 34.0% zinc and 3.7% lead.


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


SILVERTON CREEK AREA

The Silverton Creek Area, east of the town of Silverton, encompasses the
Canadian, Ivanhoe and Wakefield Mines. The Canadian and Ivanhoe Mines are both
situated on an east-west trending Adams lode and collectively produced 45,357
tons containing 535,121 ounces silver, 6,043,468 pounds of lead and 766,144
pounds of zinc. The Wakefield Mine produced 8,957 tons containing 193,948 ounces
of silver, 2,449,834 pounds of lead and 12,275 pounds of zinc between 1899 and
1929.


Initial exploration near the Wakefield Mine included sampling of the main
Wakefield lode, which also revealed the presence of high-grade zinc not
reflected in the mine's historic production. A rock sample from this target area
returned 36.54% zinc, along with 0.11% lead and 6.0 g/t silver, hosted in a
limestone breccia. Material sampled from nearby mine dumps yielded values of
4,038 g/t silver, 49.33% lead and 12.50% zinc.


The Wakefield Mine is situated on the south slope of Silver Ridge below Selkirk
Peak with underground workings lying along a north-south trending lode that
intersects the prolific Main Lode on the north slope of the ridge. The Main Lode
is the primary host for the past-producing Silversmith, Ruth, Richmond-Eureka
and Silvana Mines.


Klondike Silver 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 Company is highly encouraged by the presence of the high-grade zinc within
the Silverton Creek project area. Exploration is currently underway to further
define the newly discovered zone.


The Qualified Person for the purpose of National Instrument 43-101 is Freeman
Smith, P.Geo., 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.


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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