Klondike Silver Corp. — Capital/Financing Update 2021

Feb 5, 2021

KLONDIKE SILVER

Our Vision: Silver/Zinc/Lead Production

KLONDIKE SILVER – GRANTS OPTIONS

February 1, 2021 - Vancouver, Canada – Klondike Silver Corp. (the “Company”) (TSX.V: KS) announces that pursuant to its stock option plan, the Company has granted incentive stock options to directors, officers, employees and consultants to purchase a total of 16,000,000 common shares in the capital stock of the company, exercisable for a period of 30 months, at a price of $0.15 per share.

About Klondike Silver

Klondike’s Silvana Mine Silver Zinc Lead 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 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.

KLONDIKESILVER.com

KS : TSX.V K1SN : FSE

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