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Klondike Silver Corp. Capital/Financing Update 2021

Feb 24, 2021

45723_rns_2021-02-24_79ac6308-ab15-4d2e-ba0e-f8974c7b9804.pdf

Capital/Financing Update

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KLONDIKE SILVER

Our Vision: Silver/Zinc/Lead Production

KLONDIKE SILVER ANNOUNCES PRIVATE PLACEMENT

February 24, 2021 - Vancouver, Canada – Klondike Silver Corp. (the “Company”) (TSX.V: KS) announces that it has arranged a fully committed non-brokered private placement (the “ Offering ”) of 8,620,000 shares at a price of $0.13 per share for total gross proceeds of $1,120,600. All shares are subject to a four-month hold period from the date of issuance. Commissions may be paid on the funds raised.

The net proceeds will be used for advancing Klondike’s Sandon B.C. Silver Zinc Lead project , and for general working capital.

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: [email protected] 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.