KLONDIKE SILVER EXPLORATION Update

(TheNewswire)

May 17, 2022 – TheNewswire -Klondike Silver (TSXV:KS) (the “Company”) continues final preparations prior to commencing its 2022 underground exploration drifting and drilling program. The Company’s goal is to commence working underground in the next 30-60 days. Utilizing the Silvana 4625 West Lateral Drift workings, the Company has drifted approximately 80 meters to the west of Drill Station #1. When Drill Station #2 is fully established, a series of underground diamond drill holes will be drilled in a fan-type drill pattern to intersect the widest coverage area of the Main Lode vein system from this location.

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 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.

Tom Kennedy says: “We are very encouraged with the drill program so far. We intersected the Main Lode in all the drill holes from Drill Station #1 (see KS News Release April 24, 2020). We are confident this exciting project is on the right track”.

About Klondike Silver

• Klondike’s Silvana Mine Silver Zinc Lead project is located in South Eastern B.C.

• Klondike’s 116 square kilometer claim block is 138 km north of the Trail B.C. smelter.

• Klondike Silver is exploring from underground, along the 9 km “Main Lode”. The “Main Lode” is the most prolific mineralized structure in the Slocan Mining Camp.

• There are 13 historical mines that are situated along the “Main Lode” which have produced 886,000 kg of silver, 95 million kg of zinc and 117 million kg lead so far. (source: BC MINFILE).

Additional information can be found on Klondike Silver’s 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.

Caution Regarding Forward-Looking Information

This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company’s continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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