SOURCE: Klondike Silver Corp.

January 31, 2008 09:30 ET

Klondike Silver Corp. -- Options Granted

VANCOUVER, BC--(Marketwire - January 31, 2008) - Klondike Silver Corp. (TSX-V: KS) announces that it has granted 1,100,000 stock options to directors and officers of the Company and 1,970,000 stock options to employees and consultants at a price of $0.28 per share for a period of five years.

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. The company'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,
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.

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

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