🕐12.06.13 - 16:27 Uhr
KLONDEX MINES PRESS ANNOUNCEMENT
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Klondex Mines Reports on May Metallurgical Sampling
Elko, NV & Vancouver, BC - June 12, 2013 - Klondex Mines Ltd.
(TSX: KDX; OTCQX:
KLNDF) a Nevada gold exploration and development company,today reported the metallurgical
sampling program yielded 682 tons of mineralized material at an average grade of
73.8 g/t (2.15 opt) Au during the month of May (see May 13, 2013 news release)
Metallurgical sampling is expected to continue monthly through the remainder of
2013 to gain a better understanding of the mineralogy and metallurgy of the Type
II mineralization that hosts the Joyce and Vonnie structures.Assays were performed
by SGS of Elko, Nevada, under the supervision of Klondex staff.
Current sampling is within a high-grade zone of the Joyce structure, and as a result,
Klondex will ship the material collected in May for direct smelting rather than
processing it through a conventional milling facility.
The company will begin shipping
to Jerritt Canyon later this year, as planned.
Klondex is in the process of finalizing terms with a third party for the direct
smelting of the high-grade material from the Joyce Structure.
Shipment of the first
lot is expected before the end of June.
Paul Huet, President and CEO stated, "This is a pivotal year for Klondex as we transition
from an exploration and development company into initial production via bulk sampling.
Any cash flow received from metallurgical and bulk sampling will be used for future
development and core drilling as we continue to expand our understanding of the
deposit.
With excellent dilution management and geological controls, the grades
from exploration sampling in the 5370 crosscut are exceeding our expectations.
Mr.
Huet added, "The vent raise access is progressing well.
The top access is complete
and the bottom drift is in place.
We are putting in a grout curtain to complete
the secondary egress and the hoist has been received onsite.
The raise is expected
to be completed in the third quarter of 2013, after which, we intend to move into
our bulk sample program."
The technical information contained in this press release has been approved 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
deposit in North-Central Nevada.
Fire Creek is a compelling gold project located
in a mining-friendly jurisdiction, near major producers, power, transportation,
mining infrastructure and its milling facility.
At May 27, 2013, Klondex had 64.4M
shares issued and outstanding and 85.8M shares, fully diluted.
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:] [mailto:]
This news release contains certain information that may constitute forward-looking
information under applicable Canadian securities legislation, including information
about the magnitude and quality of the Fire Creek Project and results of exploration
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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