June 28, 2012
Toronto, ON - June 28, 2012 - Klondex Mines Ltd. (TSX: KDX and OTCQX: KLNDF), a
Nevada gold exploration and development company, announced today a slate
of seven new independent directors were elected at its Annual General
Meeting (AGM) of Shareholders held today.
The directors, who bring a range of mining industry and business
expertise to Klondex, are listed below. Their terms run through the
Company’s AGM next year.
- Robert Buchan
- Paul Crilly
- Jamie Haggarty
- William Matlack
- Blair Schultz
- Ben Shapiro
- Walied Soliman
The new directors would like to thank the former board members
for their contributions to the Company and are looking forward to
working with shareholders to create shareholder value.
About Klondex Mines Ltd.
Klondex Mines is focused on the exploration and development of its 100%
owned Fire Creek gold deposit in North Central Nevada. Fire Creek is a
compelling gold mining prospect located near power, transportation,
mining infrastructure and several milling facilities. Fire Creek’s
mineral resource is reviewed in the most recent technical report that is
with additional disclosure available via SEDAR
As of June 28, 2012, Klondex had approximately 47.0 million shares
issued and outstanding and 59.1 million shares on a diluted basis.
This news release contains forward-looking statements, including about
current expectations on the timing of project development. These
forward-looking statements entail various risks and uncertainties, are
based on current expectations, are subject to a number of uncertainties
and risks, and actual results may differ materially from those contained
in such statements. These uncertainties and risks include, but are not
limited to, 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; the risks and hazards associated with underground
operations. Risks and uncertainties about the Company’s business are
more fully discussed in the Company’s disclosure materials filed with
the securities regulatory authorities in Canada and available at
Readers are urged to read these materials. Klondex assumes no
obligation to update any forward-looking statement or to update the
reasons why actual results could differ from such statements unless
required by law.
CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING RESOURCES
This press release uses the terms “inferred mineral resources,”
“indicated mineral resources,” and “mineral resources” which are
Canadian mining terms defined in accordance with National Instrument
43-101 - Standards of Disclosure for Mineral Projects under the
guidelines set out in the Canadian Institute of Mining, Metallurgy and
Petroleum (the “CIM”) Standards on Mineral Resources and Mineral
Reserves (the “CIM Standards”). The CIM Standards differ significantly
from standards in SEC Industry Guide 7 under the United States
Securities Act of 1933, as amended. While the terms “mineral resource,”
“indicated mineral resources,” and “inferred mineral resources” are
recognized and required by Canadian regulations, they are not defined
terms under SEC Industry Guide 7 and are not normally permitted to be
used in reports filed with the Securities and Exchange Commission.
Readers are cautioned not to assume that any part or all of mineral
deposits in these categories will ever be converted into reserves.
“Inferred mineral resources” have a great amount of uncertainty as to
their existence, and great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an inferred
mineral resource will ever be upgraded to a higher category. Under
Canadian rules, estimates of inferred mineral resources may not form the
basis of feasibility or prefeasibility studies, except in rare cases.
Readers are cautioned not to assume that all or any part of an inferred
mineral resource exists or is economically or legally mineable. As such,
information regarding resources contained in this press release may not
be comparable to similar information made public by United States
companies subject to reporting and disclosure requirements under United
States federal securities laws and the rules and regulations promulgated
On Behalf of Klondex Mines Ltd.
Blane W. Wilson
President & CEO
Investor & Media Contact:
David Collins or Antonia Trigiani
Catalyst Global LLC
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