Frank Giustra Advises Klondike Gold Corp. of Change in Security Holdings

Vancouver, British Columbia (FSCwire) - Klondike Gold Corp. (TSX.V:KG; FRA: LBDP) (“Klondike Gold” or the “Company”) has been advised of the recent acquisitions made by Frank Giustra and his related entities.  Frank Giustra and his related entities will be filing on SEDAR an early warning report pursuant to the early warning requirements of applicable securities laws in Canada with respect to holdings in Klondike Gold Corp. (the “Issuer”).   

Fiore Financial Corporation, a company owned and controlled by Frank Giustra acquired 1,580,389 common shares of the Issuer pursuant to the exercise of warrants and The Radcliffe Foundation, a charitable organization controlled by Frank Giustra acquired 887,239 common shares of the Issuer pursuant to the exercise of warrants.   Prior to the acquisition of securities, Mr. Giustra owned directly and indirectly and/or controlled 9,777,164 common shares, representing 10.48% of the outstanding common shares of the Issuer.  As a result of the acquisition of securities described above, Mr. Giustra directly and indirectly owns and/or controls in aggregate 12,244,792 common shares of the Issuer, representing 12.79% of the current issued and outstanding common shares of the Issuer and would own and/or control 15,909,078 common shares of the Issuer, representing 16.01% of the issued and outstanding common shares assuming the exercise of 3,664,286 share purchase warrants.

Mr. Giustra and his related entities acquired these securities for investment purposes and as disclosed in the Early Warning Report accompanying this news release, may in the future acquire or dispose of securities of the Issuer, through the market, privately or otherwise, as circumstances or market conditions warrant.

For additional information, or for a copy of the early warning report filed in respect of the above transaction, please consult www.sedar.com.
 

ABOUT KLONDIKE GOLD CORP.

Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia, and Dawson City, Yukon Territory. The Company is focused on exploration and development of the Lone Star gold target at the confluence of Bonanza and Eldorado Creeks, within a district scale 527 square kilometer property accessible by government maintained roads located on the outskirts of Dawson City, YT within the Tr’ondëk Hwëch’in First Nation traditional territory.

On behalf of Klondike Gold Corp.

“Peter Tallman”

President and CEO
(604) 609-6110
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 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’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.  There has been insufficient exploration to define a mineral resource or mineral reserve and there are no current mineral resources or mineral reserves outlined on the property.  There is no certainty that ongoing exploration will yield positive results.

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’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Klondike disclaims any obligation to update or revise any forward-looking information or statements except as may be required.

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