KS Klondike Silver Corp

Klondike Silver Corp. (TSX VENTURE:KS) (the "Company") is pleased to announce
that the first phase of a significant exploration program has been completed at
its Connaught Project (50-50 Joint Venture with ATAC Resources Ltd.). The
program expanded on the soil geochemical programs of the past three years, and
followed up with mapping and prospecting in areas of multi-element anomalies. A
program of claim staking was completed to cover several areas of favourable
intrusive and skarn geology, and geochemical and geophysical anomalies. A second
phase of exploration will be conducted in August, once analytical results are
received.


"We are encouraged with the progress made on the Connaught Project made thus far
and look forward to moving ahead with a second phase of exploration in August.
We are optimistic in this property's potential for both gold and silver,"
commented Company President, Richard Hughes. "Ongoing exploration will continue
to emphasize gold targets in addition to known high grade silver zones from
which an historic shipment reportedly averaged 2228.5 g/t (65 opt) silver, 60%
lead and 1 g/t gold."


The Connaught property lies in the headwaters of the 60 Mile placer gold
district, within the Tintina Gold Belt, and at the northwestern end of the White
Gold District. The Yukon has seen increasing interest as a gold exploration
target in the past few years. Great success has been achieved by Underworld
Resources at their White Gold project, and by ATAC Resources at their RAU gold
project, along with many other high potential gold properties in the region. 


Mineralization at Connaught is intrusion related, with 14 narrow polymetallic
veins discovered to date over an area of 11km by 4km. Late Cretaceous age
granitic intrusions are present on the property, with metamorphic country rocks
of the Yukon Tanana terrane. Hornfels and skarn zones present on the property
may hold potential for bulk tonnage gold deposits. A thrust fault mapped on the
property will also be investigated for enhanced gold values in a geological
setting similar to the "White Gold" property, now owned by Kinross Gold. 


Geological mapping in 2010 has revealed that intrusive lithologies are much more
extensive than previously known. A pluton previously mapped as less than one
kilometer in diameter has now been extended to roughly 6 km by 0.5 to 1.5 km.
The granitic body is dominantly quartz monzonite which is recessive weathering,
with lesser granodiorite that is resistant to weathering. Several bodies of
highly felsic granite, including rare graphic granite pegmatite have also been
mapped. The felsic intrusive lithologies were not previously documented on the
property. Bands of marble and skarn have also been shown to extend from
previously known outcrops on the property. The pyroxene-garnet skarn is enriched
in copper and zinc, and has been sampled to evaluate gold content which was not
previously examined. 


The Qualified Person for the purpose of National Instrument 43-101 is William
Mann, P.Geo., who has read and agreed with the technical information in this
news release.


The Board of Directors is also pleased to announce the appointment of Diana Mark
as Corporate Secretary and Kathi Bartels as Assistant Corporate Secretary.


About the Connaught Property:

Previous exploration at the Connaught Property revealed silver, gold and lead
mineralization in 14 veins over an area measuring roughly 11 kilometres by 4
kilometres. Porphyry and skarn mineralization is also present in the area. 


About Klondike Silver:

Klondike Silver is a member of the Hughes Exploration Group of Companies and is
led by a team with an excellent track record of discovery and development in
Canada. 


Klondike Silver Corp. has assembled a quality portfolio of silver properties in
historic mineral districts in North America, and is applying advanced
exploration technologies to add value to these core assets. Klondike Silver is
reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous
Klondike district of Yukon Territory. The Company owns a 100 TPD fully
operational flotation mill in Sandon, BC, which is currently processing material
from local mines in the historic Slocan Silver Camp. 


Visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox
interviews with Company President, Richard Hughes.


The statements made in this news 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.

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