Klondike Gold Corp.: Klondike Gold Completes Phase 1 Exploration Program

VANCOUVER, BC / ACCESS Newswire / June 17, 2025 / Klondike Gold Corp. (TSX.V:KG)(FRA:LBDP)(OTCQB:KDKGF) ("Klondike Gold" or the "Company") is pleased to announce the completion of Phase 1 drilling of the multiphase 2025 Exploration program. A total of 13 diamond drill holes were completed on the Company's 100% owned Klondike District Property (the "Property") in the Dawson mining district, Yukon Canada. (see Figure 1).

Summary

• Completion of 2,354.70m across 13 diamond drill holes throughout Phase 1

• Assay results from 13 holes are currently pending

• Planning of holes up to 750 meter in length for the upcoming drill phase

• Prospecting, mapping, and relogging are ongoing to refine 3-D geological, structural, and mineralization models within the Eldorado Target.

• Montana Creek placer mining advancing steadily

Peter Tallman, President and CEO of Klondike states: "Years of exploration are now coming together as we step out from known high grade gold structures in the most expeditious way possible targeting lateral and vertical extensions to identified resource areas¹ along the Eldorado Target. We're intently focused on demonstrating the outsized potential of bedrock sourced gold deposits within the historic Klondike Gold District and are making steady progress. We are also pleased to see our colleagues at Armstrong Mining making solid progress at our Montana Creek placer mine. Stripping, mining and drilling ahead to expand the existing large placer 'pay streak' are all proceeding well which raises expectations for a great season of gold recovery."

Phase 1 Drill Program

Klondike Gold's Phase 1 program targeted lateral and vertical extensions of high-grade gold vein zones and aimed at testing the orientation of major structures that control gold deposition along portions of the Eldorado Target (see Figure 2). Understanding these major controls will guide the next phase of drilling which is planned to include deep holes up to 750m of length. Phase 1 Drilling began on April 28^th and was executed by Kluane Drilling, based out of Whitehorse YT. A total of 2,354.70 meters of drilling was completed across 13 holes which varied from 50-350 meter lengths (see Figure 3). Samples were collected along prospective intersections throughout the 13 drill holes have been shipped to MSA Labs in Prince George, BC and results are pending.

As referenced by the April 24^th, 2025Klondike Gold News release, the Eldorado Target focusses current exploration on a 5km strike and 1400m width area which covers a major crustal structure mapped by Klondike Gold (see Figure 2). Prior to the 2025 Exploration season, drilling successfully and prudently focused on exploring orogenic gold deposition to shallow depths of ~75 meters below surface. With this data now in place to guide deeper exploration, prospective efforts target lateral and depth extensions of previously defined mineralized zones with planned drillholes ranging from 100 meters up to 750 meters in length. To better target mineralization to greater depths, priority work includes mapping, prospecting, and detailed relogging to refine constructed 3-D lithology, structural, and mineralization models.

Montana Creek Placer Property Lease Update

Work is well underway on the Montana Creek Placer Property Lease (refer to the Company's March 11, 2025 News Release) under the agreed 'Mining Lease and Option to Purchase Agreement with Armstrong Mining Corp. (see Figure 1 for location). A substantial overburden drill program testing the Montana Creek surface gravel alluvial gold to expand the placer "pay streak" will complete shortly. Overburden stripping is ongoing (see Figure 4) and 'pay gravel' is being stockpiled in advance of work underway commissioning the sluice (gold recovery) plant.

Figure 1: Location of Klondike Gold's bedrock gold 727 square kilometer "Klondike District Project" and the Montana Creek Placer lease operation

Figure 2: Plan view of gold mineralization along Eldorado Creek locating Phase 1 drill holes of the 2025 exploration program.

Figure 3: Drill moves in progress testing the Eldorado Creek target

Figure 4: Stripping and work commencement at the Montana Creek Placer operation

QUALIFIED PERSONS REVIEW

The technical and scientific information contained within this news release has been reviewed and approved by Peter, Tallman, P.Geo., President of Klondike Gold and Qualified Person as defined by National Instrument 43-101 policy.

ABOUT KLONDIKE GOLD CORP.

Klondike Gold is a Vancouver based gold exploration company advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon, one of the top mining jurisdictions in the world. The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-kilometer length of the famous Klondike Goldfields placer district. Multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets. The Company has identified a pit constrained Mineral Resource Estimate of 469,000 Indicated and 112,000 Inferred gold ounces[i], a milestone first for the Klondike District. The Company retains a 10% production royalty on the active Montana Creek placer property with payments capped at $9.5M total over 6 years. The Company is focused on exploration and development of its 727 square kilometer property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, Yukon, within the Tr'ondëk Hwëch'in First Nation traditional territory.

ON BEHALF OF KLONDIKE GOLD CORP.

"Peter Tallman"

Peter Tallman,
President and CEO

FOR FURTHER INFORMATION:
Telephone: [phone]
E-mail: [e-mail]
Website: www.klondikegoldcorp.com

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.

Certain statements contained in this news release constitute "forward-looking statements". When used in this document, the words "anticipated", "expect", "estimated", "forecast", "planned", and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. Klondike Gold does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.

Forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company's securities; fluctuations in commodity prices and changes in the Company's business plans.In making the forward looking statements in this news release, the Company has applied several material assumptions that the Company believes are reasonable, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. The Company seeks safe harbor.

For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedarplus.ca.

[i]The Mineral Resource Estimate for the Klondike District Property was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent Qualified Person in accordance with the requirements of NI 43-101. The technical report supporting the Mineral Resource Estimate entitled "NI 43-101 Technical Report on the Klondike District Gold Project, Yukon Territory, Canada" has been filed on SEDAR at www.sedarplus.ca effective November 10, 2022. Refer to news release of December 16, 2022.

SOURCE: Klondike Gold Corp.

View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/klondike-gold-completes-phase-1-exploration-program-1040122