Klondike Silver Corp. — Capital/Financing Update 2021

Apr 29, 2021

KLONDIKE SILVER

Our Vision: Silver/Zinc/Lead Production

TMF DRILL PROGRAM COMPLETED

April 29 , 2021 - Vancouver, Canada – Klondike Silver Corp. (“Klondike Silver” or the “Company” ) (TSX.V: KS). On the recommendation of the engineering firm Tetra Tech Inc. an 11 hole drill program commenced on the Silvana Mine Tailing Management Facility (TMF). Drilling was completed Saturday April 24, 2021. The drill program was designed to examine the embankments of all three tailings ponds, the tailing material within the ponds and the characteristics of the subsurface of the TMF. In addition Tetra Tech installed piezometers which are located in 6 of the 11 drill holes. Piezometers measure the depth of the groundwater within the TMF throughout the year. Tetra Tech Inc. will analyze the drill core stratigraphy of each hole and write a detail geotechnical report.

Klondike Silver is making significant progress towards satisfying conditions required by EMLI (British Columbia Ministry of Energy Mines and Low Carbon Innovation).

About Klondike Silver

Klondike’s Silvana Mine Silver Zinc Lead project is located in South Eastern B.C., 138km 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 have produced 886,000 kg of silver, 95 million kg of zinc and 117 million kg lead so far. Including 8 of the 13 above there are 68 historical mines that are situated in the Klondike Silver 116 square kilometer claim block which have produced 1,258,000 kg of silver, 72 million kg of zinc and 158 million kg lead so far. (source: BC MINFILE).

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

On Behalf of the Board of Directors Contact Information Corporate Inquiries: Klondike Silver Corp. "Thomas Kennedy" Dale Dobson: (604) 682-2928 Thomas Kennedy, B.Comm., J.D. Email: dale.dobson@klondikesilver.com CEO, Director

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.

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.

KLONDIKESILVER.com

KS : TSX.V K1SN : FSE

804 – 750 West Pender St. Vancouver, B.C. Canada, V6C 2T7 T: 604.682.2928