Klondex Mines Announces Independent Board of Directors Elected at Today�s AGM

 
 
Klondex Mines Ltd. (TSX: KDX and OTCQX: KLNDF), a Nevada gold exploration and development company, announced today a slate of seven new independent directors were elected at its Annual General Meeting (AGM) of Shareholders held today.
 
The directors, who bring a range of mining industry and business expertise to Klondex, are listed below. Their terms run through the Company�s AGM next year.
 
      Robert Buchan
      Paul Crilly

      Jamie Haggarty

      William Matlack
      Blair Schultz
      Ben Shapiro
      Walied Soliman
 
The new directors would like to thank the former board members for their contributions to the Company and are looking forward to working with shareholders to create shareholder value.
 

About Klondex Mines Ltd. (www.klondexmines.com):

Klondex Mines is focused on the exploration and development of its 100% owned Fire Creek gold deposit in North Central Nevada. Fire Creek is a compelling gold mining prospect located near power, transportation, mining infrastructure and several milling facilities. Fire Creek�s mineral resource is reviewed in the most recent technical report that is available here with additional disclosure available via SEDAR.

 
As of June 28, 2012, Klondex had approximately 47.0 million shares issued and outstanding and 59.1 million shares on a diluted basis.
 
This news release contains forward-looking statements, including about current expectations on the timing of project development. These forward-looking statements entail various risks and uncertainties, are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the global economy; the price of gold; operational, funding and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about the Company�s business are more fully discussed in the Company�s disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedar.com. Readers are urged to read these materials. Klondex assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.
 
CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING RESOURCES
This press release uses the terms "inferred mineral resources," "indicated mineral resources," and "mineral resources" which are Canadian mining terms defined in accordance with National Instrument 43-101 � Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves (the "CIM Standards"). The CIM Standards differ significantly from standards in SEC Industry Guide 7 under the United States Securities Act of 1933, as amended. While the terms "mineral resource," "indicated mineral resources," and "inferred mineral resources" are recognized and required by Canadian regulations, they are not defined terms under SEC Industry Guide 7 and are not normally permitted to be used in reports filed with the Securities and Exchange Commission. Readers are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Readers are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. As such, information regarding resources contained in this press release may not be comparable to similar information made public by United States companies subject to reporting and disclosure requirements under United States federal securities laws and the rules and regulations promulgated thereunder.