Klondike Silver Corp. (TSX VENTURE:KS) (the "Company") is pleased to report that
it has received assays for a number of samples taken from a number of recently
completed trenches in the Jackson Basin. The Jackson Basin Area, which includes
the historic Jackson Mine, was discovered in 1892. Mining continued until 1955,
followed by intermittent operations until 1975.


"We are encouraged by the high assay values found in a number of trenches,
especially from trenches 8 and 10 which are believed to be the eastern extension
of the Jackson lode structure," comments Klondike Silver President, Richard
Hughes. "Results received from this program and other recently completed
trenches will be used to guide our next phase of exploration."


To view a map of the Klondike Silver's areas of exploration in the Slocan Camp
click on the following link:


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

Trenching Summary:

- Trench 3 uncovered a 20cm diameter boulder of mainly galena which contained
72.42% Pb, 2.41%Zn, 2895g/tonne Ag. (JB09-09). Trench 3 is located west of the
Jackson mine workings.


- Trench 5 had a fault zone with samples assaying up to 17.59% Pb, 1.12% Zn,
687g/tonne Ag. (JB09-T05-R03) A thin quartz vein offset by the fault contained
8.13% Pb, 3.91% Zn, 377g/tonne Ag. (JB09-T05-R04).


- Trench 10, 8m along strike from the mineralized zone in Trench 8, showed
variable mineralization. Samples from the zone yielded values up to 5.01% Pb,
2.40% Zn and 124g/tonne Ag. The zone is believed to be the eastern extension of
the Jackson lode structure which mined 5847 tonnes at average grades of
14.65%Pb, 10.92%Zn and 531g/tonne Ag.


- Trench 8 revealed a shear zone approximately 2.6m wide with extensional quartz
veins hosting lead and zinc mineralization. Chip samples across the zone assayed
up to 6.85% Pb, 6.42% Zn and 204 g/tonne Ag (see table below):




------------------------------------------
Distance           Ag        Pb       Zn
  (m)        (g/tonne)       (%)      (%)
------------------------------------------
0-0.2              64      2.12     0.70
------------------------------------------
0.2-0.4            13      0.64     0.89
------------------------------------------
0.4-0.6           204      6.85     6.42
------------------------------------------
0.6-0.8            58      1.69     1.50
------------------------------------------
0.8-1.0           126      4.79     3.52
------------------------------------------
1.0-1.2            81      3.33     2.18
------------------------------------------
1.2-1.4           110      3.95    12.50
------------------------------------------
1.4-1.6            54      1.52     7.09
------------------------------------------
1.6-1.8            34      1.20     6.04
------------------------------------------
1.8-2.0           175      6.58     3.29
------------------------------------------
2.0-2.2            34      1.34     0.79
------------------------------------------
2.2-2.4            14      0.55     2.27
------------------------------------------
2.4-2.6            62      2.17     4.32
------------------------------------------



The Company is currently awaiting assays from several other trenching programs
completed through the summer.


The Qualified Person for the purpose of National Instrument 43-101 is Trygve
Hoy, PEng, PhD who has read and agreed with the technical information in 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.


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