SOURCE: Klondex Mines Ltd.

Klondex Mines Ltd.

October 28, 2013 06:30 ET

Klondex Completes Key Milestone to Enter Into Bulk Sampling Program

Klondex Secondary Egress Excavation Is Complete at Fire Creek

RENO, NV and VANCOUVER, BC--(Marketwired - Oct 28, 2013) - Klondex Mines Ltd. (TSX: KDX) (OTCQX: KLNDF), a Nevada gold exploration and development company, today completed the excavation of the secondary egress at its Fire Creek gold project. The hoist is set and is in the process of being commissioned. The secondary egress, including the ventilation system, is expected to be operational by mid-November.

Once the hoist is commissioned and tested, Klondex will have a secondary egress at Fire Creek. This will satisfy requirements of MSHA (Mine Safety and Health Administration) to begin its bulk sampling program at Fire Creek.

Paul Huet, Klondex President and CEO, commented, "The progress made at Fire Creek this past year has been impressive as the new management team continues to deliver on the project's major milestones. The completion of the secondary escape-way represents the final hurdle to initiate our bulk sampling program." Mr. Huet continued, "I would also like to personally thank the continued hard work and dedication of the Fire Creek staff, to the safety of every individual that ensured no lost time injuries over the last year."

The technical information contained in this press release has been approved and verified 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 project in North-Central Nevada. Fire Creek is permitted for bulk sampling, with the necessary infrastructure in place and on site. The project is located in a mining-friendly jurisdiction, near its toll milling facilities, and major producers. As of October 28, 2013, and assuming the conversion of special warrants to shares, Klondex had 79.2mm shares issued and outstanding and 103.1mm shares fully diluted.

This news release contains certain information that may constitute forward-looking information under applicable Canadian securities legislation, including but not limited to, timing as to the operation of the secondary egress and the successful execution of the bulk sampling program at the Fire Creek Project. This forward-looking information entails various risks and uncertainties are based on current expectations, and actual results may differ materially from those contained in such information. These risks and uncertainties include, but are not limited to the risks and hazards associated with environmental compliance and permitting for its underground operations, 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. 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 www.sedar.com. Readers are urged to read these materials. Klondex assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by law.

Contact Information

  • Company Contact:
    Paul Huet
    President & CEO
    Klondex Mines Ltd.
    775-284-5757
    Email Contact

    Alison Tullis
    Manager, Investor Relations
    Klondex Mines Ltd.
    647-233-4348
    Email Contact

    Toni Trigiani
    Investor Relations
    Catalyst Global LLC
    212-924-9800
    Email Contact