Klondike Gold Reports 2023 Field Discoveries, 2022 Stander Zone Drill Results Including 1.27 g/t Au over 15.15 meters from surface

July 21, 2023

Klondike Gold Reports 2023 Field Discoveries, 2022 Stander Zone Drill

Results Including 1.27 g/t Au over 15.15 meters from surface

Vancouver, British Columbia, Canada – Klondike Gold Corp. (TSX.V: KG; FRA: LBDP; OTCQB:

KDKGF) (“Klondike Gold” or the “Company”) is pleased to announce field results from ongoing

2023 work as well as gold assay results from twenty-four (24) diamond drill holes from the

Company’s 2022 exploration program at the Stander Deposit located on the Company’s Klondike

District Property (the “Property”) in the Dawson mining district, Yukon, Canada.

Peter Tallman, Klondike Gold’s President & CEO, states “ The Company’s team has made three

recent discoveries of gold in outcrop following implementation of several new science -based

upgrades to our exploration models. It is very exciting and energizing to screen drill targets with

prospecting and mapping and find visible gold in outcrop in each of them, distributed over the

50km strike length of the Property. We are all looking forward to getting the drill program

underway.”

HIGHLIGHTS OF 2023 FIELD WORK INCLUDE:

• Discovery of abundant visible gold (>20 individual grains) in outcropping 10 -cm quartz

vein within carbonate alteration halo within the Gold Run target area.*

• Discovery of numerous potentially gold -mineralized outcropping quartz veins with

coarse pyrite, locally with galena, (silver?) telluride, and native sulphur within the

Dominion target area.*

• Discovery of visible gold (5 grains) in subcrop 50-cm quartz vein 150 meters beyond the

drilled mineral resource estimate area at Stander Zone Deposit.*

• Discovery of ‘bonanza gold’ vein portion within a new exposure where gold occurs as

1-3mm wide plates , dendritic crystals in to voids, and small 2mm ‘ nuggets’ within

fracture seams in outcropping Gay Gulch quartz vein, near where previous reported

sample assayed 4,064 g/t Au (143 oz/t Au) (News Release dated February 21, 2023).*

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• Detection for the first time of sub- visible alteration halos adjacent gold bearing veins

using ‘Short Wave Infrared’ (SWIR) (at Lone Star and Stander Zones) with applicability

for positive exploration throughout the Klondike District Property.

• Detection of laterally extensive carbonate-pyrite alteration halos linked directly to gold

bearing veins within mafic rocks (at Gold Run target) also with applicability throughout

the Klondike District Property.

• Mapping of low-angle (~30 degree) flexures along major faults through the Klondike

District Property coincident with gold mineralized target areas (Stander, Lone Star,

Dominion, and Gold Run), and other untested target areas with extensive Au -soil

and/or Au-rock anomalies.

• The Company hosted orogenic gold experts Dr. Richard Goldfarb (China University of

Geosciences) and Dr. Ben Frieman (Colorado School of Mines) for four days reviewing

the geology, mineralization, and tectonic setting of the Property . The Company’s work

within the Klondike District has demonstrated features consistent with other globally

recognized orogenic gold districts with high prospectivity.

• Drilling is anticipated to begin August 1, 2023 testing the Gold Run target initially.

Note: (*All rock sample assays are pending. Visible gold is common in the Klondike District and

no correlation to gold grade should be made without quantitative assay).

STANDER ZONE DRILLING RESULTS

In 2022 the Company completed twenty -four (24) diamond drill holes (EC22 -447 to EC22- 464;

EC22-480 to EC22-485) at the Stander Zone. The Initial Mineral Resource Estimate (“MRE”) at the

Stander Deposits does not include holes reported here. (See News Release November 10, 2022).

The “NI 43-101 Technical Report for the Klondike District Gold Project, Yukon Territory, Canada”, with

an effective date of Nov 10, 2022 is dated and filed on SEDAR on December 16, 2023).

Assay highlight results from twenty-four (24) Stander Zone drill holes:

• 24.85 meters (“m”) of 0.42 g/t Au from 17.8 m in EC22-453

• 6.00 meters (“m”) of 2.20 g/t Au from 7.0 m in EC22-455

• 20.0 meters (“m”) of 1.02 g/t Au from 48.0 m in EC22-459

• 49.06 meters (“m”) of 1.21 g/t Au from 7.97 m in EC22-481

• 15.15 meters (“m”) of 1.27 g/t Au from 7.60 m in EC22-482

• Visible gold noted in EC22-448 (1 grain), EC22-459 (1 grain), EC22-460 (1 grain), EC22-481

(3 grains), and EC22-482 (2 grains). (See Photos 1a and 1b below).

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Photo: 1a) Stander Zone: EC22-459; 61.84m to 62.34m interval assays 12.5 g/t Au over 0.5m

Photo: 1b) Stander Zone: EC22-460; 50.35m to 50.85m interval assays 0.2 g/t Au over 0.5m

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In 2023 the Company interpreted a fault system that transects both Stander Deposit Pit

Constrained MRE areas. Fault splay intersections coincide with structural flexures and these areas

are spatially associated with higher gold grades within the MRE. Field work results in 2023 on the

basis of this interpretation so far have yielded positive initial results in several areas of the

Property.

The Stander Zone gold deposits are contained within schists and felsic rocks considered to be an

island arc related assemblage of the Klondike Schist. Orogenic gold mineralization is associated

with low angle sheeted gold bearing quartz veins.

Drill holes EC22-447 to EC22-464 are drilled in the usual 220 azimuth orthogonal to the (primary)

orientation of sheeted gold-bearing veins within the Stander Deposit southeast model Pit Shell.

Drill holes EC22-480 to EC22-485 are drilled at 290 azimuth orthogonal to a potential secondary

orientation of sheeted gold- bearing veins and fractures within the Stander Deposit northwest

model Pit Shell.

Significant gold assay intersections from these holes are shown in Table 1 below:

Table 1: 2022 Exploration Program – Stander Zone– Significant Results

HoleID From (m) To (m) Grade (g/t Au) Length (m)

EC22-447 34.30 40.30 0.79 6.00

EC22-448 15.50 18.00 1.12 2.50

EC22-449 177.10 223.00 0.27 45.90

EC22-450 23.90 28.90 0.48 5.00

EC22-451 17.80 19.80 1.07 2.00

EC22-452 58.50 63.50 0.51 5.00

EC22-453 17.80 42.65 0.42 24.85

EC22-454 19.00 23.00 0.60 4.00

EC22-455 7.00 13.00 2.20 6.00

EC22-456 59.00 72.00 0.41 13.00

EC22-457 104.65 116.70 0.22 12.05

And 138.50 148.70 0.38 10.20

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HoleID From (m) To (m) Grade (g/t Au) Length (m)

EC22-458 87.50 92.50 0.80 5.00

EC22-459 48.00 68.00 1.02 20.00

And 97.90 109.10 0.75 11.20

EC22-460 108.90 113.40 0.53 4.50

And 117.50 120.90 0.61 3.40

EC22-461 56.00 62.50 0.46 6.50

And 76.70 78.20 1.16 1.50

EC22-462 67.70 71.75 0.44 4.05

EC22-463 NSV

EC22-464 72.40 84.17 0.47 11.77

EC22-480 28.40 33.30 0.47 3.90

EC22-481 7.97 27.43 0.95 19.46

And 47.85 57.03 4.52 9.18

EC22-482 7.60 22.75 1.27 15.15

EC22-483 41.90 45.70 0.27 3.80

EC22-484 NSV

EC22-485 NSV

[NSV: no significant values]

Stander Zone drill hole locations indicating Klondike Gold completed drill holes with 2022 holes

in this release labelled with hole identification. Extent of Stander mineralization is shown, with

red denoting Pit Constrained mineral resources included in the Mineral Resource Estimate.

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Figure 1: Stander Zone 2022 Drill Hole Location Plan Map

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Figure 2: Stander Zone Plan Map with Interpreted Fault/Splays

Table 2: Drill Collar Summary for 2022 exploration program at Stander Zone

Hole ID UTM East UTM North Azimuth Dip Length (m)

EC22-446 584278 7085665 210 55 62.48

EC22-447 585025 7085560 210 55 75.29

EC22-448 585510 7085200 210 55 150.88

EC22-449 585710 7085210 210 55 251.46

EC22-450 585380 7085280 210 55 150.88

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Hole ID UTM East UTM North Azimuth Dip Length (m)

EC22-451 585685 7085055 210 55 150.88

EC22-452 585724 7085026 210 55 210.31

EC22-453 585712 7084912 210 55 124.97

EC22-454 585671 7084850 210 55 60.96

EC22-455 585631 7084876 210 55 88.39

EC22-456 585830 7084795 210 55 100.58

EC22-457 585895 7084925 210 55 150.88

EC22-458 585930 7084890 210 55 101.5

EC22-459 585855 7084840 210 55 150.88

EC22-460 585553 7085175 210 55 150.88

EC22-461 585360 7085235 210 55 100.58

EC22-462 585275 7085395 210 55 100.58

EC22-463 585286 7085326 210 55 150.88

EC22-464 585225 7085315 210 55 124.97

EC22-465 584835 7085175 210 55 72.85

EC22-466 584873 7085142 210 55 65.58

EC22-478 583624 7086470 210 55 82.3

EC22-479 583624 7086470 270 55 50.29

EC22-480 585138 7085647 290 55 128.02

EC22-481 585068 7085673 290 55 149.35

EC22-482 585012 7085687 290 55 141.73

EC22-483 584966 7085712 290 55 99.06

EC22-484 584870 7085735 290 55 79.25

EC22-485 584923 7085760 290 55 100.58