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.
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.
Klondex Mines Ltd. (www.klondexmines.com):
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
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
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.
On Behalf of Klondex
Blane W. Wilson