KLONDEX MINES LTD. T.KDX

News

[cautious36]

Cut the price of gold in half, and this company is still worth more than the $60 million its trading for. News -------------------------------------------------------------------------------- Wed Apr 19, 2006 Far North Zone at Fire Creek, Nevada Extended with Drill Intercept Grading 0.40 oz/ton Gold over 40 feet -------------------------------------------------------------------------------- Vancouver, British Columbia: Klondex Mines Ltd. (TSX-V: KDX). The company has received assays results from an additional 4 holes from Phase 4 drilling at its 100%-owned Fire Creek property in the Battle Mountain-Eureka Trend in Northern Nevada. Drill holes FC0525 and 0526 were drilled to test a steeply west dipping vein target known as the Far North Zone which was discovered during Phase 2 drilling in 2004. The mineralization in this area is characterized by wider, lower grade zones than the Main and West Veins some 400 meters to the south. Previously reported drill hole FC0522 on Section 950N reported an interval of 0.49 opt gold over 20 feet (16.7 gpt over 6.1 meters) within a broader zone of 0.177 opt gold over 120 feet (6.06 gpt over 31.6 meters). Drill Hole FC0525 returned an interval of 0.40 oz/ton (13.66 gpt) gold and 0.73 oz/ton (26.3 gpt) silver over the 40 foot (12.2 m) between 850-890 feet on Section 850N some 100 meters to the south of the previously reported high grade intervals on Section 950N. Drill hole FC 0526 was drilled 100 meters North of 950N and between 1045-1105 feet returned an interval of 60 feet (18.3 meters) grading 0.10 oz/ton (3.42 gpt) gold including a 10 foot section grading 0.277 oz/ton (9.54 gpt) gold. These holes now indicate that the Far North Zone has a strike length of at least 300 meters and has the potential to significantly add to the resource at Fire Creek as it is open in all directions. Drill holes FC0601 and FC0602 were drilled on Section 550N to test for the northern extension of the West and Main Vein systems respectively. Drill hole FC0601, which deflected upward and missed the primary target, encountered the West Vein Zone with intercepts of 0.185 oz/ton (6.37 gpt) gold over 5 feet (1.52 m) and 0.124 oz/ton (4.28 gpt gold) over 10 feet (3.04 m). FC0602 targeted the Main Zone some 100 meters north of previously reported FC 0528 which intersected six 5 to 15 foot thick veins grading >0.25 oz/ton. Drill hole FC 0601 returned 0.264 oz/ton (9.09 gpt) over 5 feet (1.52 m) and 0.183 oz/ton (6.31 gpt) over 10 feet (3.04 m). Offset holes of both 601 and 602 are planned. It is estimated that true widths are approximately 75% of reported widths for these holes. Poor weather conditions have hindered drilling efforts throughout 2006 at Fire Creek with wet, mild weather making it difficult to move and supply the drill rigs. A more normal drilling rate is anticipated as spring weather sets in. The regional exploration program over the large (>7000 acre) Fire Creek Property will commence in the near future. The Company currently has a working capital position of $CDN 9,215,037 million and 20,573,390 shares are currently issued and outstanding. Richard Kern (P.Geo) of Reno, Nevada, is the Company's qualified person on the project as required under NI 43-101and has reviewed the technical information contained in this press release. Klondex has in place a rigorous QA/QC program consistent with National Instrument 43-101 and using best industry practice. ALS Chemex Labs of Reno, Nevada is responsible for all the Klondex Mine's assaying. Klondex Mines was founded in 1974 and is a Tier two exploration company listed on the TSX Venture Exchange under the symbol "KDX". The company's property portfolio contains five gold exploration projects all in Nevada. A description of these projects, including maps and photographs can be viewed on the company website at: www.klondexmines.com. ON BEHALF OF KLONDEX MINES LTD. "William Solloway" President "Bob Sibthorpe" Director For further information please contact: William Solloway - [phone] Robert Eadie - [phone] or toll free 1-866-602-4935 The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U. S. newswire services or for dissemination in the United States. You can view the Previous News item: Wed Mar 29, 2006, Klondex Mines Ltd. Raises $7.3 million You can return to the main News page, or press the Back button on your browser. Home | Company | Properties | Stock Quote | Corporate Info | Downloads Photos | News | Contact | QwikReport © 2004 Klondex Mines Ltd. All Rights Reserved.