Regional Silt Survey Identifies Highest Anomalous Sites Within Klondike District Property

VANCOUVER, BC / ACCESSWIRE / February 22, 2024 / Klondike Gold Corp. (TSX.V:KG)(FRA:LBDP)(OTCQB:KDKGF) ("Klondike Gold" or the "Company") is pleased to report results of a regional bio-leach extractable gold ("BLEG") survey conducted in 2023 by Newmont Canada which included the area of the Company's 100% owned Klondike District Property (the "Property") in the Dawson mining district, Yukon, Canada.

Peter Tallman, Klondike Gold's President & CEO states "We have pursued the idea of conducting a regional geochemical survey for years to characterize where Klondike might fit in the major tectonic gold belt picture, and we would like to thank Newmont for their cooperation on independently delivering their own professional survey and for providing us the contextual results. These are as we expected: our Klondike District Property contains the regional #1 orogenic gold anomaly based on multiple elements. And the anomalism is throughout the strike length of the Property with new target areas indicated by this survey that require immediate prospection in 2024."

Newmont Canada conducted an independent regional BLEG sampling survey totalling 292 sample sites. With permission from Klondike Gold, Newmont Canada sampled 37 sites within the Company's Klondike District Property as allowed by the Company's existing exploration permits.

Field samples were collected by Newmont personnel and chemical analyses were performed in the Newmont (USA) laboratory in Denver, Colorado. Newmont Canada personnel recently provided analytical results for each of 50 elements as well as a percentile ranking value (out of 100%, where 100% is highest value) for each element analyzed from 37 samples sites collected within the Property, relative to the 292-sample regional dataset.

HIGHLIGHTS:

The highest percentile ranks of BLEG survey element analyses of characteristic ‘orogenic gold deposit' model elements were collected from among the 37 sites within the Klondike District Property out of 292 regional samples.

Analytical results for orogenic gold pathfinder elements gold (Au), tellurium (Te), silver (Ag), bismuth (Bi), as well as copper (Cu) and lead (Pb) from the Klondike District Property, where 100% is the highest and 90-90.99% is the top 10^th percentile, include:

• Gold (Au): 1 (highest) sample at 100%, 5 (including 2^nd highest) at 90-99.99% out of 292 samples
• Tellurium (Te): 1 (highest) sample at 100%, 4 at 90-99.99% out of 292 samples
• Silver (Ag): 1 (highest) sample at 100%, 4 (including 2^nd highest) at 90-99.99% out of 292 samples
• Bismuth (Bi): 2 (highest) samples tied at 100%, 4 (including 2^nd highest) at 90-99.99% out of 292 samples
• Lead (Pb): 2 (highest) samples tied at 100% out of 292 samples
• Copper (Cu): 6 samples at 90-99.99% out of 292 samples

The six highest Percentile Au sites are shown in Figure 1 map of the Property. Each site is sampling a small drainage catchment area with none or historically limited disturbance upstream.

Two of these sites are associated with large Au-soil geochemical anomalies from the Company's regional soil survey program. Another of these sites is near a c.1900 historic gold mine shaft/adit/workings exploration area that was ‘relocated' by Company staff late in 2023 and is a target of 2024 field exploration. Two anomalous sites are within small drainages with no known gold mineralization as potential source that will now also be investigated in 2024.

All six sites are located adjacent to major crustal faults mapped by the Company which are associated with orogenic gold mineralization within a corridor of rock types the Company has identified as highly prospective.

No samples in the BLEG survey were collected within 10km of the northwestern end of the property thus excluding the highly prospective drainages of Eldorado and Bonanza Creeks where the Company has outlined the open ended Lone Star and Stander Deposits both with open pit constrained Mineral Resource Estimate ("MRE")¹ areas.

The Klondike team continues to evaluate the 50-element dataset in detail. Data from the 50-element BLEG survey supports different geochemical domains corresponding to the Company's differentiated geology separated by major faults.

The Company contends that the Klondike District is an unrecognized world-class orogenic gold belt comprised of a disparate series of thrust terranes, contradicting Yukon Territorial Government and Geological Survey of Canada mapping depicting one ‘undifferentiated' Klondike Schist geology unit without faults and thus limited (hence ‘overlooked') gold potential.

Figure 1: Map of Gold (Au) percentile rank of 37 BLEG sample sites within the Klondike District Property out of 292 regional sample survey.

QUALITY ASSURANCE/QUALITY CONTROL

The technical and scientific information contained within this news release has been reviewed and approved by Peter Tallman, P.Geo., President and CEO of Klondike Gold and Qualified Person as defined by NI 43-101 policy. Interpretations of BLEG data and results herein are solely the responsibility of Klondike Gold. Exploration related technical information, specifications, analytical information and procedures can be found on the Company's website.

UPCOMING EVENTS

Klondike Gold will be participating in the following upcoming events:

• March 3 - 6, 2024: PDAC (Toronto, ON),
• March 5: Invest Yukon Precious Metals Luncheon (Toronto, ON,)
• April 19 - 21: CEM Investment Conference (Scottsdale, AZ)
• April 23 - 27: Germany Investment Conference (Frankfurt)
• July 17 - 21: Dawson Investment Conference/Property Tour (Dawson, YT)

ABOUT KLONDIKE GOLD CORP.

Klondike Gold is a Vancouver based gold exploration company advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon, one of the top mining jurisdictions in the world. The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-km length of the famous Klondike Goldfields placer district. Multi-km gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets. The Company has identified a Mineral Resource Estimate of 469,000 Indicated and 112,000 Inferred gold ounces¹, a milestone first for the Klondike District. The Company is focused on exploration and development of its 727 square km property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, Yukon, within the Tr'ondëk Hwëch'in First Nation traditional territory.

¹ The Mineral Resource Estimate for the Klondike District Property was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent Qualified Person in accordance with the requirements of NI 43-101. The technical report supporting the Mineral Resource Estimate entitled "NI 43-101 Technical Report on the Klondike District Gold Project, Yukon Territory, Canada" has been filed on SEDAR+ at www.sedarplus.ca effective November 10, 2022. Refer to news release of December 16, 2022.

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.

Certain statements contained in this news release constitute "forward-looking statements". When used in this document, the words "anticipated", "expect", "estimated", "forecast", "planned", and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. Klondike Gold does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.

SOURCE: Klondike Gold Corp.