Private Placement Announcement

(via TheNewswire)

Vancouver, Canada - TheNewswire - July 30, 2020 - Klondike Silver Corp. (the "Company") (TSXV:KS) (OTC:KLSVF) announces a non-brokered private placement to raise up to $1,500,000 through the issuance of 30,000,000 units ("Unit") at a price of $0.05 per each Unit. Each Unit will be comprised of one common share and one-half of one share purchase warrant (a "Warrant"). Each whole Warrant is exercisable to purchase one common share of the Company at a price of $0.10 per share for a period of 30 months from the date of closing of the financing.

The private placement is subject to TSX Venture Exchange approval and all securities are subject to a four month hold period. Finder's fees will be payable in connection with the private placements, all in accordance with the policies of the TSX Venture Exchange. The net proceeds will be used for advancing Klondike's Sandon B.C. Silver Lead Zinc project, located 80 KM north of the Trail B.C. smelter, and for general working capital.

About Klondike Silver

Klondike's Silvana Mine Silver Lead Zinc project is located in South Eastern B.C., 138 km north of the Trail B.C. smelter. The Company is actively exploring from underground, the western extension of the Silvana Mine, along the "Main Lode". The "Main Lode" is a 9 km vein structure which is the most prolific mineralized structure in the Slocan Mining Camp. There are 13 historical mines that are situated along the 9 km vein structure which has produced 886,000 kg of silver, 117 million kg lead and 95 million kg of zinc so far (source: BC MINFILE).

Additional information can be found on the Company website: www.klondikesilver.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.

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