PRESS RELEASE

from Klondike Gold Corp. (isin : CA4989033010)

Klondike Gold announces $750,000 Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / November 27, 2023 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTCQB:KDKGF) ("Klondike Gold" or the "Company") is pleased to announce that it plans to raise up to $750,000 in aggregate of flow-through funds (the "Flow-Through Placement") and non-flow-through funds (the "Non-Flow-Through Placement") by way of a non-brokered private placement (the "Financing").

The Flow-Through Placement will consist of the sale of flow-through units at a price of $0.09 per flow-through unit with each flow-through unit consisting of one common share which is a "flow-through" share for Canadian income tax purposes, and one share purchase warrant.

The Non-Flow-Through Placement will consist of the sale of units at a price of $0.08 per unit, with each unit consisting of one common share and one share purchase warrant.

Each share purchase warrant will entitle the holder to purchase one common share at a price of $0.18 per common share for a period of 2 years from the date of issuance.

A finder's fee on the gross proceeds of the Financing may be paid.

The Financing may close in tranches. The Company intends to use the proceeds from the Financing to continue exploration and development of the Company's Yukon properties, as well as for general working capital.

The securities issued in connection with the Financing are subject to TSX Venture Exchange approval and all securities will be subject to a four month and one day statutory hold period after the date of closing.

ON BEHALF OF KLONDIKE GOLD CORP.

"Peter Tallman"

Peter Tallman
President and CEO

FOR FURTHER INFORMATION:

Telephone: (604) 609-6138
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.com

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.

Disclaimer for Forward-Looking Information

"This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Klondike Gold in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Klondike Gold's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management Discussion and Analysis and in other filings made by Klondike Gold with Canadian securities regulatory authorities and available at www.sedar.com. Klondike Gold disclaims any obligation to update or revise any forward-looking information or statements except as may be required."

SOURCE: Klondike Gold Corp.



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