Private Placement Closed & Drilling Update
Vancouver, May 1, 2019 - Klondike Silver Corp. (the "Company") (TSX.V: KS) announces that the Company has closed its private placement. The Company raised $152,500 through a non-brokered private placement of 3,050,000 units at a price of $0.05 per unit. Each unit consists of one common share and one non-transferable share purchase warrant, with each warrant exercisable for a period of 5 years from the closing at a price of $0.05 per share. All Units are subject to a four-month hold period from the date of issuance. The net proceeds will be used for advancing Klondike's Sandon B.C. Zinc Silver Lead project, located in South Eastern B.C. 138 KM north of the Trail B.C. smelter, and general working capital. Drill Holes DISCOVER Main Lode STRUCTURE in the "SILVER MILE"
Four holes have been completed of the 13 holes proposed Phase One drill program. Each hole has intersected several breccia and shear zones of the Main Lode structure. Several of these breccia zones have intersected minor sulphide mineralization. Assay results are still pending on the split core samples. A series of QA/QC samples (i.e. Certified Reference Material, blank and duplicate) have been added to the sample stream at regular intervals. They are being assayed by ActLabs in Kamloops which is an accredited laboratory (ISO/IEC 17025, Lab 790).
The scientific and technical disclosure in this news release has been reviewed and approved by David Makepeace, P.Eng., Senior Geologist - Environmental Engineer for Micon International Limited, who is an independent consultant to the Company and Qualified Person as defined in NI 43-101.
| On Behalf of the Board of Directors | Contact Information |
| Corporate Inquiries: | |
| "Thomas Kennedy" | Dale Dobson: (604) 682-2928 |
| Thomas Kennedy, B.Comm., J.D. | Email: dale.dobson@klondikesilver.com |
| CEO, Director |
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Klondike Silver Corp. which may cause actual results, performance or achievements of Klondike Silver Corp. to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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