Klondike Gold Corp.

Klondike Gold Corp.

October 26, 2009 13:38 ET

Klondike Gold Corp. Commences Drilling on Clubine Gold Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2009) - Klondike Gold Corp. (the "Company")(TSX VENTURE:KG) is pleased to announce it is commencing drilling on the Clubine property, located approximately 5 kilometers north of Salmo, British Columbia. The Clubine property is a past producing precious metal-lead-zinc property wholly owned by Klondike Gold Corp. Mineralization occurs as a number of quartz and quartz-carbonate precious and base-metal veins in the upper 500 metres of the Hall Formation and lower part of the Elise Formation, in the Keystone Mountain area. The old workings are on five levels; quartz veins in the uppermost level have elevated lead-zinc values whereas the lower levels have higher gold values. In 1989, diamond drilling intersected gold-bearing quartz veins and silicified zones beneath the No. 5 level of the Clubine-Comstock (082FSW200) occurrence (Cooke, 1990). Gold occurs in the vein quartz and also within adjacent broad silicified and pyritic zones. Based on results from the 1989 work, the Company is drilling both above and below the Number 5 level for gold zones discovered in underground workings and to determine strike and depth of surface mineralized structures.

The qualified person for the purpose of National Instrument 43-101 is Dr. Trygve Hoy, PEng, who has read and agreed with the technical information in this news release.

About Klondike Gold Corp
Klondike Gold is a large landholder in southeastern British Columbia as well as in the Klondike District of the Yukon Territory, an area which produced between six and twelve million ounces of gold during its historic gold rush. The Company also holds a 50% interest with partner Chalice Diamond Corp in approximately 78,000 acres of diamond properties located in the Chapleau-Wawa region of Ontario and a number of properties in southeastern British Columbia.

Please visit the Company's website: www.klondikegoldcorp.com for more information on the diamond properties in Ontario, our holdings in the Klondike and our properties in southeastern BC.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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