KS Klondike Silver Corp

Klondike Silver Corp. (the "Company") (TSX VENTURE:KS) is pleased to announce
that based on results from trenching and sampling in the Jackson basin area in
2009, an aggressive exploration program is planned in the northern part of the
basin for the 2010 field season. Work in 2009 focused in the area of the
past-producing Jackson mine. Little work was done on the large claim group
immediately to the north, referred to as the Stenson property and including the
western extension of the Bonton and Dardenelles veins. Past work on the Stenson
by Klondike Silver has included a soil geochemical program, a ground
magnetometer-VLF-EM survey and trenching. 


Soil and geophysical surveys confirmed the east to northeasterly trend of
Stenson mineralization and helped direct the trenching program which exposed a
silver-lead-zinc vein. Analyses of selected samples of the vein returned values
up to 53 oz/ton Ag, 6.38% Pb and 10.49% Zn.


Work in 2009 extended the soil and geophysical surveys to the west, towards the
Bonton and Dardenelle showings. These deposits are interpreted to be on strike
with the Stenson and are unusually rich with reported production (BC Minfile
data base) of 760 tons containing 207 oz/ton Ag, 27.5% Pb and 0.6% Zn
(Dardenelles) and 13 tons containing 229 oz/ton Ag and 22.3% Pb (Bonton).
Proposed exploration is intended to focus on the western slopes of Jackson Creek
between Stenson and Bonton showings. This work will include some fill-in soil
geochemical and geophysical surveys followed by trenching in an attempt to
expose the mineralized structure. The Company is encouraged by the high grades
of the mineralized showings on east side of the property, the continuity and
strength of the structure where exposed, and its similarity to the past
producing Jackson lode. 


Further to the Company's news release of October 27, 2009, the Company announces
that it has amended its private placement of up to 2,500,000 units for total
proceeds of up to $162,500. The financing will consist of flow through units
priced at $0.065 per unit. Each of the units will consist of one flow through
common share and one non-flow through, non-transferable share purchase warrant
entitling the holder to purchase one additional common share for five years at a
price of $0.10 per share in the first two years and $0.15 per share for the
remaining three years. Proceeds from the private placement will be used for
exploration expenditures.


The Company is also pleased to announce that it has arranged for a private
placement of up to 12,000,000 units for total proceeds of up to $960,000. The
financing will consist of flow through units priced at $0.08 per unit and
non-flow through units priced at $0.065 per unit. Each of the units will consist
of one flow through or 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 five years at a price of $0.10 per share in the
first two years and $0.15 per share for the remaining three years. In accordance
with Exchange policies, finders' fees may be paid on the funds raised. The
private placement is subject to regulatory approval and the proceeds will be
used for exploration programs and general working capital.


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 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.


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 local mines in the historic Slocan Silver Camp. As well, Klondike Silver
entered into a joint venture with Kootenay Gold Inc. to explore a
copper-porphyry property in the state of Sonoro in northern Mexico.


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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