Drilling / Drifting Update

KLONDIKESILVER.com

KS : TSX.V K1SN : FSE

804 – 750 West Pender St. Vancouver, B.C. Canada, V6C 2T7 T: 604.682.2928

DRILLING / DRIFTING UPDATE

April 24, 2020 - Vancouver, Canada – KLONDIKE SILVER CORP. (the “Company”)

(TSX.V: KS) has received more and stronger assay results from the latest three Diamond Drill Holes

(DDH). The following are the important intersections within the Main Lode and parallel structures.

Hole Important Intersections Element

Number From To Length Silver Lead Zinc

(m) (m) (m) (g/t) (oz/t) (%) (%)

K-1132 45.38 46.41 1.03 3.62 0.11 0.06 0.12

including 45.38 45.72 0.34 5.50 0.16 0.10 0.22

K-1133 64.20 65.00 0.80 71.73 2.09 1.09 0.21

Including 64.20 64.72 0.52 110.00 3.21 1.68 0.31

K-1134 78.64 80.52 1.88 1.84 0.05 0.03 0.10

83.90 84.53 0.63 1.25 0.04 0.05 0.18

104.85 105.78 0.93 2.52 0.07 0.06 0.18

Note: Shaded cells indicate weighted average assays

The sample interval in K-1133 between 64.20 m to 64.72 m was re-assayed as well as its upper and lower

shoulder intervals, using new sample rejects. The results of these new assays corroborate the initial

assays.

All DDHs continue to intersect the Main Lode and parallel structures, as predicted in the 3D geological

model. Drill hole data set out above demonstrate stronger mineralization is being interse cted within

those structures. Subsequent to the last three drill holes Klondike commenced construction of a further

80 metre drift to the west of Drill Station number one. 29 metres of drifting was completed at April 17.

Due to ongoing Covid- 19 concerns Klondike Silver temporarily suspended construction of the 80 metre

drift effective April 17.

Anaylsis - The core is being split by a diamond saw. Half of the sample is sent for assay and the

remainder is placed back in the core box. The assay samples are being sent to ActLabs in Kamloops ,

B.C., an accredited laboratory (ISO/IEC 17025, Lab 790).

All samples are crushed to 80% passing 2 mm and then a 250 g riffle split is pulverized to 95% passing

105 µm (lab code: RX1). A 0.25 g sample of the resulting pulp is dissolved in 4- acid (near total)

digestion process. The solution is analyzed for 37 elements with an ICP-OES instrument (lab code: 1F2).

If individual sample(s) obtain a silver assay result above 100 ppm (g/t) with the 1F2 method, the

sample(s) are re -assayed for silver using a new 30 g of the sample pulp utilizing the fire assay with a

gravimetric finish (lab code: 8 -Ag). If individual sample(s) obtain a lead and/or zinc assay result(s)

above 5,000 ppm (0.5%) with the 1F2 method, the sample(s) are re -assayed for those elements using

2

KLONDIKESILVER.com

KS : TSX.V K1SN : FSE

804 – 750 West Pender St. Vancouver, B.C. Canada, V6C 2T7 T: 604.682.2928

sodium peroxide fusion (total digestion) and then re-run in an ICP-OES instrument (lab code: 8-Peroxide

ICP-OES).

A series of QA/QC samples have been added to the sample stream at regular intervals including two (2)

CRMs, blanks and duplicates.

Klondike Silver mineral claim block 116 square KM in size is in good standing with British Columbia

mineral titles to July 31 2029.

About Klondike Silver

Klondike’s Silvana Mine Silver Lead Zinc 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. 13 historical mines situated along th is 9 km

vein structure produced 886,000 kg of silver, 117 million kg lead and 95 million kg of zinc (source:

BC MINFILE).

Tom Kennedy says: “We are very encouraged with the drill program results so far. Not only have we

continually intersected the Main Lode in all the drill holes but we now have stronger assay result s

included. We are confident this exciting project is on the right track”.

The scientific and technical disclosure in this news release has been reviewed and approved by David

Makepeace, M.Eng., P.Eng., Geo- environmental Engineer for Geospectrum Engineering , who is an

independent consultant to the Company and Qualified Person as defined in NI 43-101.

Additional information can be found on the Company website: www.klondikesilver.com

On Behalf of the Board of Directors Contact Information

Klondike Silver Corp. Corporate Inquiries:

"Thomas Kennedy" Dale Dobson: (604) 682-2928

Thomas Kennedy, B.Comm., J.D. Email: [email protected]

CEO, Director

This news release contains certain forward looking statements which involve known and unknown risks, delays, and

uncertainties not under the control of Klondike Silver Corp. which may cause actual results, performance or achievements of

Klondike Silver Corp. to be materially different from the results, performance or expectation implied by these forward looking

statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and

depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry

production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.

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.