VANCOUVER, BC--(June 23, 2008) - Further to the Company's news release of April 29, 2008, Klondike Silver Corp. is pleased to announce that it has increased its previously reported private placement of 10,000,000 units to 6,615,000 units. The financing consists of 4,120,000 non flow-through units at $0.20 per unit and 2,495,000,000 flow through units. at $0.15 per unit. Each of the flow-through and non flow-through units is priced at $0.20 per unit with each flow-through unit consisting of one flow-through common share and a share purchase warrant and each non flow-through unit consisting of one non flow-through common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional non flow-through common share for a period of two years at a price of $0.20 per share. The financing has been fully subscribed and is expected to close this week.
In accordance with Exchange policies, finders' fees may be paid on a
portion of the funds raised. The private placement is subject to regulatory approval.
The proceeds of the private placement will be used for drilling on the
Company's Yukon, British Columbia and Ontario properties and for general working capital.
About Klondike Silver
Klondike Silver Corp. has assembled a quality portfolio of silver and silver-rich polymetallic properties in historic mineral districts of North America, and is applying advanced exploration technologies to add value to these core assets. The Company holds more than 10,000 hectares of claims and crown grants in the "Silvery Slocan" district, including numerous past-producing mines and a fully permitted and operating 100 tons per day mill near the historic mining town of Sandon, B.C. Klondike Silver is reviving the historic Gowganda and Elk Lake silver camps in Ontario, and is exploring silver-rich polymetallic targets in the world-famous Klondike district of Yukon Territory. The Company has also recently optioned eight high-potential mineral concessions in under-explored historic mineral districts of Mexico.
Klondike Silver is a member of the Hughes Exploration Group of Companies and is led by a team with a stellar track record of discovery and development in Canada.
Capitalization Report for Klondike Silver Corp
Shares Issued: 71429654
Shares Escrow: 1374143
TEL: (604)-685-2222 Kevin Hull or Alan Campbell
EMAIL: info@klondikesilver.com
