News

May 13, 2013

Klondex Discovers Visible Gold Mineralization

Vancouver & Elko, NV --May 13, 2013 -- Through additional exploration and metallurgical sampling, Klondex Mines Ltd. (TSX: KDX; OTCQX: KLNDF) is pleased to announce significant visible gold mineralization on the Joyce structure (Figures 1, 2 and 3) at the 5370 cross cut. As a result of the sampling, Klondex expects to have a better understanding of the structure character, widths, grades and metallurgy that will prepare the company to begin bulk sampling in Q3 2013. Assays from the south segment returned a fully-diluted grade of 137.1 g/t (4 opt) gold over 2.4 m (8 ft). Assays from the north segment are pending. Samples will be displayed at the Las Vegas MoneyShow May 14-16 at Booth #714.

Following the construction of the vent-raise egress, Klondex is targeting to extract approximately 10,000 tons of material in 2013 as part of to its bulk sampling program. Klondex's targets for 2014 and 2015under the bulk sampling permit will be provided upon completion of the updated mineral resource estimate, anticipated in June 2013.

The initial bulk sampling program is expected to begin between the 5370 and 5400 crosscuts in the Joyce and Vonnie structures where, in addition to the sampling results announced today substantial gold mineralization has been encountered by the two crosscuts, including (See press release of Klondex dated October 31, 2012):

• 496.6 g/t gold (14.5 oz/ton) over 1.8m (5.9 ft) in the 5370 cross cut
• 95.5 g/t gold (2.2 oz/ton) over 0.9m (2.9 ft) at the 5400 cross cut
• 43.5 g/t gold (1.3 oz/ton) over 1.5m (4.9 ft) at the 5400 cross cut

Paul Huet, Klondex President and CEO stated, "We're excited to be encountering visible gold mineralization from further exploration, especially as we're preparing to begin the bulk sample program in Q3. Fire Creek's gold mineralization will allow us to be flexible and reactive in today's volatile gold environment. This is an extremely important year for Klondex, as we finalize the resource model and mine plan, complete the vent-raise egress, construct the rapid infiltration basin and initiate bulk sampling from Fire Creek. Encountering this type of visible gold mineralization only adds to the excitement surrounding the Fire Creek project."

Assays were determined by ALS Minerals of Reno, Nevada and Inspectorate America Corporation of Sparks, Nevada, both independent analytical laboratories.
The content of this press release has been reviewed 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 mining prospect located in a region of prolific gold production, near power, transportation, mining infrastructure and several milling facilities. As of April 29, 2013 Klondex had 64.4 million shares issued and outstanding and 85.7 million shares on a fully diluted basis.

Contact:
Paul Huet
President & CEO
Klondex Mines Ltd.
807-939-2841
investors@klondexmines.com

Alison Tullis
Manager, Investor Relations
Klondex Mines, Ltd.
647-233-4348
atullis@klondexmines.com

Toni Trigiani
Investor Relations
212-924-9800
Catalyst Global LLC
kdx@catalyst-ir.com