🕐13.05.13 - 13:00 Uhr
KLONDEX MINES - VISIBLE GOLD FROM EXPLORATION
Klondex Mines Ltd.
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Klondex Discovers Visible Gold Mineralization
Vancouver & Elko, NV -May 13, 2013 - Through additional exploration and metallurgical
sampling, Klondex Mines Ltd.
(TSX: KDX; OTCQX: KLNDF) is pleased to announce significant
visible gold mineralization on the Joyce structure (Figure 1
(Figure 2
(Figure 3
at the 5370 cross cut.
As a result of the sampling, Klondex expects to have a better
understanding of the structure character, widths, grades and metallurgy that will
prepare the company to begin bulk sampling in Q3 2013.
Assays from the south segment
returned a fully-diluted grade of 137.1 g/t (4 opt) gold over 2.4 m (8 ft).
Assays
from the north segment are pending.
Samples will be displayed at the Las Vegas MoneyShow
May 14-16 at Booth #714.
Following the construction of the vent-raise egress, Klondex is targeting to extract
approximately 10,000 tons of material in 2013 as part of its bulk sampling program.
Klondexs targets for 2014 and 2015 under the bulk sampling permit will be provided
upon completion of the updated mineral resource estimate, anticipated in June 2013.
The initial bulk sampling program is expected to begin between the 5370 and 5400
crosscuts in the Joyce and Vonnie structures where, in addition to the sampling
results announced today substantial gold mineralization has been encountered by
the two crosscuts, including (See press release of Klondex dated October 31, 2012):
* 496.6 g/t gold (14.5 oz/ton) over 1.8m (5.9 ft) in the 5370 cross cut
* 95.5 g/t gold (2.2 oz/ton) over 0.9m (2.9 ft) at the 5400 cross cut
* 43.5 g/t gold (1.3 oz/ton) over 1.5m (4.9 ft) at the 5400 cross cut
Paul Huet, Klondex President and CEO stated, "Were excited to be encountering visible
gold mineralization from further exploration, especially as were preparing to begin
the bulk sample program in Q3.
Fire Creeks gold mineralization will allow us to
be flexible and reactive in todays volatile gold environment.
This is an extremely
important year for Klondex, as we finalize the resource model and mine plan, complete
the vent-raise egress, construct the rapid infiltration basin and initiate bulk
sampling from Fire Creek.
Encountering this type of visible gold mineralization
only adds to the excitement surrounding the Fire Creek project."
Assays were determined by ALS Minerals of Reno, Nevada and Inspectorate America
Corporation of Sparks, Nevada, both independent analytical laboratories.
The content of this press release has been reviewed by Steven L.
McMillin, CPG-11031
(American Inst.
of Prof.
Geol.), Chief Geologist for Klondex Mines Ltd., as a non-independent
Qualified Person for the purposes of National Instrument 43-101.
About Klondex Mines Ltd.
(www.klondexmines.com)
Klondex Mines is focused on the exploration and development of its Fire Creek gold
depositin North Central Nevada.
Fire Creek is a compelling gold mining prospect
located in a region of prolific gold production, near power, transportation, mining
infrastructure and several milling facilities.
As of April 29, 2013 Klondex had
64.4 million shares issued and outstanding and 85.7 million shares on a fully diluted
basis.
Contact:
Paul Huet Alison Tullis Toni
Trigiani
President & CEO Manager, Investor Relations Investor
Relations
Klondex Mines Ltd.
Klondex Mines, Ltd.
Catalyst
Global LLC
807-939-2841 647-233-4348 212-924-9800
[mailto:]
[mailto:] kdx [mailto:]@catalyst-ir.com
[mailto:]
This news release contains forward-looking information, including information about
current expectations on the timing of project development, the completion of the
updated mineral estimate and bulk sampling program at the Fire Creek Project.
This
forward-looking information entails various risks and uncertainties are based on
current expectations, and actual results may differ materially from those contained
in such information.
These risks and uncertainties include, but are not limited
to the risks and hazards associated with environmental compliance and permitting
for its underground operations, the strength of the global economy; the price of
gold; operational, funding and liquidity risks; the degree to which mineral resource
estimates are reflective of actual mineral resources; the degree to which factors
which would make a mineral deposit commercially viable are present.
Risks and uncertainties
about the Companys business are more fully discussed in the Companys disclosure
materials filed with the securities regulatory authorities in Canada and available
at www.sedar.com.
Readers are urged to read these materials.
Klondex assumes no
obligation to update any forward-looking information or to update the reasons why
actual results could differ from such information unless required by law.
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