SOURCE: Klondike Silver Corp.

March 12, 2008 09:30 ET

Klondike Silver Corp. Announces 2008 Exploration Program for the Stump Property

VANCOUVER, BC--(Marketwire - March 12, 2008) - Klondike Silver Corp. (TSX-V: KS) (PINKSHEETS: KLSVF) is pleased to describe its plans for 2008 exploration at its Stump property located near Ross River in Southern Yukon. The Stump property is wholly owned by Klondike Silver, subject to a net smelter return royalty. It is road accessible and hosts silver-lead veins that are part of a large mineral camp which includes the former Ketza gold mine, 5 km to the west.

The 2007 exploration program at the Stump property consisted of excavator trenching which successfully exposed the length of the historical A1 Vein. Six main lenses of semi-massive to massive galena were identified along a 300 m strike length. The lenses have an aggregate length of 75 m and an average width of 0.25 m (see news release dated September 14, 2007).

Four bulk samples collectively comprising approximately 80 tons of galena-rich material were extracted from the four largest lenses. The bulk samples were transported to Klondike Silver's mill at Sandon, B.C. where they were crushed and milled. Head grades reported from the mill are listed on Table I. The concentrate is currently stored at the Sandon mill. Arrangements are being made to ship the concentrate to the Trail Smelter.

Table I: Head Grades for Stump Bulk Sample

Klondike Silver Corp. BULK SAMPLE: STUMP PROPERTY, YUKON
Mill Run at Sandon, BC - Sept/Oct 2007
-------------------------------------------------------------------------
                               Tonnage     Pb      Ag         Ag      Zn
Lens         Samples         (short tons)  (%)  (g/tonne) (ozt /ton) (%)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
B     2459 Head sample Lot B     8.7      39.87   1578      46.03    0.38
-------------------------------------------------------------------------
C     2464 Head sample Lot C     31.5     37.41   1416      41.30    0.37
-------------------------------------------------------------------------
E     2456 Head sample Lot E     27.0     39.32   1559      45.47    1.34
-------------------------------------------------------------------------
F     2461 Head sample Lot F     13.5     42.62   1612      47.02    0.30
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Total                            80.7
-------------------------------------------------------------------------

The 2008 exploration program at the Stump property will commence a multi-season bulk sampling campaign of the near surface galena lenses. The program will also include diamond drilling of several holes to test for similar grade but larger lenses that could be developed in more competent rock units at depth. Permits are in place and a contractor has been engaged, which has previously extracted large bulk samples.

Richard Hughes, President of Klondike Silver, states, "We are very pleased with the results from our 2007 program, which confirmed the high grade nature of the vein and anticipate another successful season in 2008."

Analyses for the 2007 head grade samples were performed at Acme Analytical Laboratories Ltd in Vancouver using industry-standard ICP-ES techniques. This laboratory is currently registered with ISO 9001:2000 accreditation.

The 2007 exploration program at the Stump property was carried out under the supervision of Bill Wengzynowski, P.Eng, President of Archer, Cathro & Associates (1981) Limited.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101. Mr. Wengzynowski is designated as the qualified person who reviewed this information. He was not, however, present at the Sandon Mill to supervise the handling of the ore or samples submitted for concentrate head grade.

About Klondike Silver Corp.

Klondike Silver Corp. is a young and dynamic silver exploration and production company focusing on advanced exploration and small high grade silver production in British Columbia, Yukon, Ontario and Mexico. Klondike Silver's wholly owned 100 tons per day mill at Sandon, BC is able to process ore from local and Yukon properties for exploration purposes. Klondike Silver is using modern geophysical, geochemical and drilling technology to explore historical silver camps and discover new mineralization. A large exploration program is underway in 2008 in the Gowganda and Cobalt silver camps of Ontario.

On Behalf of the Board of Directors,
KLONDIKE SILVER CORP.

"Richard W. Hughes" (signed)
President

For Further Information Contact:

The Hughes Exploration Group at (604) 685-2222

Or visit the Company's website: www.klondikesilver.com to see the Smartstox Report in which Stanlie Hunt interviews Klondike Silver Corp. President Richard Hughes.

This document contains certain forward-looking statements which involve known and unknown risks, delays and uncertainties not under the corporation's control which may cause actual results, performance or achievements of the corporation to be materially different from the results, performance or expectation implied by these forward-looking statements.

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

Contact Information

  • For Further Information Contact:
    The Hughes Exploration Group
    (604) 685-2222

    Klondike Silver Corp.
    #711-675 West Hastings Street
    Vancouver, B.C.
    Canada V6B 1N2
    Telephone: (604) 685-2222
    Fax: (604) 685-3764
    www.klondikesilver.com