VANCOUVER, BC – April -3, 2009 - Klondike Silver Corp. (TSX.V: KS) is pleased to announce that recent work carried out by Espiritu project operator Kootenay Gold (TSX-V: KTN) has confirmed the project is host to an extensive area of polymetallic vein, stockwork, breccia and copper-gold porphyry mineralization. Mineralization and alterations are hosted along a 5 km east northeast trending structure that measures between 1 to 2 kilometres in width. The Espiritu project is located approximately 150 km east of Hermosillo, in Sonora State, Mexico.

Dr. Tom Richards, VP of Exploration for Kootenay commented, “The silver-gold enriched veins occurring within and adjacent to the copper-gold porphyry style mineralization provide a setting where the porphyry mineralization may be significantly enriched by the precious metal vein system. The potential for precious metal enrichment would significantly enhance the economic potential of the Espiritu”.

Two zones of mineralization have been identified; the northeast zone dominated by a porphyry setting is separated by a major fault from the southwest zone dominated by polymetallic veins and stockworks of precious and base metal mineralization. The two zones appear to be genetically related and the polymetallic vein/stockwork systems represent mineralized systems that would be expected to overlie the porphyry setting.

The current prospector sampling and mapping work is of a reconnaissance nature and has served to define the mineralized settings. Two hundred and sixty-one samples have been collected, with 169 from the northwest porphyry setting.

Northeast Zone

The northeast Espiritu porphyry prospect is a 2.2 km x 1.4 km sub-circular area defined by a concentric pattern of zonation diagnostic of copper gold porphyry deposits. The different zones are strong propylite, argillic, sericitic and potassic (biotite) alteration hosted in a biotite, feldspar quartz porphyry. A leach-cap zone is coincident with the Extensive leaching of the argillic and sericite alteration zones has resulted in the development of a leach-cap zone marked by the limonites goethite, jarosite and hematite with local presence of the secondary copper minerals turquoise and chrysocolla.

In the biotite zone of alteration, 19 grab samples from the disseminated and fracture mineralization showed good values of copper averaging 0.24% and gold averaging 0.239 gpt. In the argillic/sericitic zone of alteration or leach-cap zone, the average copper content shows values of 0.034%, consistent with the general average copper values within the leach-cap zones that sit on top of known porphyry deposits of the southwest USA and northwest Mexico (for example Asarco’s Silver Bell Mine and Grupo Mexico’s; Cananea and La Caridad Mines). The polymetallic veins within the porphyry setting show anomalous values in gold (to a high of 3.60 gpt) and silver (to a high of 462gpt). All samples are grab samples.

Southwest Zone

The southwestern part of the system is represented by veins, breccias and stockworks anomalous in gold, silver, copper, lead and zinc.

At present, the main mineralization in the southwest is defined by several zones spread out along a 2 km length. These are named the west, central and east polymetallic zones. Anomalous mineralization has been recognized in two other separate zones: the PS-1 zone about 2 km to the northwest and the PS-2 zone about 500 metres to the east.

Two stages of mineralization are noted; one stage marked by mainly quartz veins low in all metal values and a second stage marked by veins, breccias and stockworks of polymetallic gold, silver, copper, lead and zinc mineralization.

A total of 58 grab samples were collected within the west, central and eastern parts of the southwest polymetallic zone. The polymetallic veins averaged 226 gpt silver, 1.58% lead and 1.57% zinc associated with 0.18 gpt gold and 0.15% copper. From the 35 samples collected from the polymetallic zone, 18 of 35 were greater than 0.100 gpt gold and 29 of 35 were greater than 30 gpt silver.

The PS-1 area reported values of 0.84, 0.50 and 0.46 gpt gold and 277 and 217 gpt silver associated with anomalous lead to 6% and zinc to 1.5%. The PS-2 zone reported silver values of 686, 644 and 487 gpt and anomalous copper, lead and zinc from 13 samples has been noted. Anomalous values of molybdenum to 0.129%) were noted from this area.

The Espiritu project is under option to Klondike Silver Corp. who have the right to earn a 50% interest in the project from Kootenay Gold Inc. by making certain payments and exploration expenditures (see news Kootenay Gold Inc. release March 31, 2008).

Sampling and Assaying (QA/QC)

All samples were placed and sealed with tape into a plastic rock sample bag. Each sample was labeled and catalogued and delivered to ALS Chemex’s preparation laboratory in Hermosillo, Sonora Mexico where pulps are made of each sample which were then sent to the ALS Chemex laboratory in North Vancouver, B.C. Canada. Each sample was analyzed with a multi acid digestion ICP AES (Plasma Emission Spectroscopy). Samples with precious grades exceeding the upper detection limit of the ICP AES are analyzed again using fire assay methods with either atomic absorption, emission spectroscopy or gravimetric finishes for gold and silver. Base metals exceeding upper limits are reanalyzed using a four acid ore grade analysis. All samples referred to herein are grab samples. ALS Chemex is an internationally recognized independent laboratory operating to ISO 17025 quality assurance standards.

The foregoing geological disclosure has been reviewed and verified by Kootenay’s CEO, James McDonald, P.Geo, (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects).

About Klondike Silver

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 one of its Yukon properties and local mines in the historic Slocan Silver Camp.

CONTACT INFORMATION

Corporate Inquiries: Kevin Hull or Alan Campbell, (604)-685-2222

Email: info@klondikesilver.com

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

AGORACOM Investor Relations
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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.