Klondike Silver Corp. (TSX VENTURE:KS) (the "Company") is pleased to announce
results from an earlier drill program and reevaluation of the Corkill-Lawson
silver project. The property is located approximately 15 kilometers southeast of
the town of Gowganda, Ontario. Drill hole HCL0701, which intersected 2,393 g/t
Ag, 0.31% Co, 0.46% Cu and 0.17% Ni over 0.41 meters from 99.97 to 100.38
meters, will be the primary focus of the upcoming program. The Gowganda area was
the second largest silver producer in Ontario after the Cobalt area, having
produced 60,186,782 oz Ag up until 1969.


"We are pleased to announce the Company is moving forward with the
Corkill-Lawson silver project. Recent assessment work completed on the property
clearly highlights its potential," comments Company President, Richard Hughes.
"A review of previous drill data, including the high grade intercept mentioned,
has been completed andwill guide future exploration efforts".


Original exploration by the Company was conducted to identify
silver-cobalt-nickel veins hosted in and proximal to a Nipissing diabase dike
that strikes north-south through the Corkill and Lawson townships. Drill targets
were defined on the basis of VTEM airborne geophysical anomalies in conjunction
with targeting mature differentiated diabase similar to the diabase hosted
silver deposits of the Gowganda area.


The Company would also like to announce it underground work in the Silvana mine,
in British Columbia is progressing well. A drift is currently being put into to
what the Company believes is the western extension of the Main Lode structure,
the controlling structure responsible for the majority of production in the
Slocan silver camp. Underground drilling is also underway at the eastern end of
the Silvana mine.


Peter Caldbick, P.Geo., is the qualified person for the purposes of National
Instrument 43-101 for the Company's Corkill-Lawson Project. The technical
contents of the press release have been reviewed and approved by Peter Caldbick.


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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