KLONDIKE SILVER CORP.

711-675 West Hastings Street, Vancouver, B.C. V6B 1N2 (604) 685-2222 *Fax: (604) 685-3764

FOR IMMEDIATE RELEASE

May 10, 2007                                                                                                

TSXV: KS

Klondike Silver Corp. Announces 2007 Yukon Exploration Programs

Klondike Silver Corp. (TSXV: KS) is currently conducting pre-season planning for its Yukon exploration programs at the Idaho Creek and Connaught (CN) properties which are under option from ATAC Resources Ltd. 

The Idaho Creek property is located in west-central Yukon within the Dawson Range, a well mineralized region of the productive Tintina Gold Belt.  The Tintina Gold Belt hosts several major deposits including Donlin Creek, Pogo, Fort Knox, Keno Hill and Casino.  The property lies 14 km east of the Casino porphyry gold-copper-molybdenum deposit, which has a measured and indicated mineral resource of 964 Mt grading 0.22% Cu, 0.24 g/t Au and 0.02% Mo.  (Note: This resource estimation was prepared by Western Copper Corporation and conforms to NI 43-101).  The Idaho Creek claims are underlain by the same intrusive rocks hosting the Casino Deposit.

Cumulative results from work completed to date on the property suggest the Idaho Creek claims are underlain by a high level porphyry system.  The mineralization exposed at surface and identified in drill holes is hosted in veins and stockwork fracture zones resembling those commonly observed in halos above buried porphyry systems.  The 2007 program will consist of 1200 m of diamond drilling to test the best anomalies defined by induced polarization surveys conducted during the 2006 season.  This work is scheduled to commence in early June.

The Connaught (CN) property hosts an extensive system of silver-lead-gold veins located within the Sixty Mile placer gold camp in western Yukon.  The property covers roughly 4100 hectares.  Key parts of the area now covered by the CN claims have been staked almost continuously from 1965 until 2006 when they came open and were immediately restaked by ATAC Resources.

The property is largely underlain by metaplutonic rocks of the South Fiftymile Batholith and metasedimentary rocks of the Fortymile River Assemblage.  There is very little structural data because this part of the Yukon escaped the effects of Cordilleran glaciation, and as result local topography is subdued.

Most of exploration conducted in the vicinity of the current claim block was done between 1965 and 1988.  The exploration was largely modeled on the nearby Keno Hill district, which produced over 200 million ounces of silver at an average grade of 1400 g/t (40 opt).  Work done at the CN area consisted of soil geochemical and geophysical surveys, localized bulldozer trenching and limited diamond drilling.  The work, which was almost exclusively restricted to ridge tops, identified seven northeast trending vein zones.  The veins are characterized by coarse comb textured multi-episodal quartz and carbonate mineralized with variable amounts of galena, arsenopyrite, pyrite, chalcopyrite, stibnite and associated oxides, carbonates and sulphates.

Approximately 218 tonnes of mineralized vein material were extracted from the No. 1 and No. 3 veins in the western part of the property in 1966 and 1976.  This material was shipped to a smelter and reportedly averaged 2228.5 g/t silver, 60% lead and 1.0 g/t gold.  The most recent sampling program conducted in 1998 obtained similar grades from specimens and channel samples across veins still partially exposed in the old bulldozer trenches.  This sampling campaign also identified significant gold and silver values (up to 3.2 g/t and 55.2 g/t respectively) in alteration selvages adjacent of some of the vein zones.

A VTEM survey was flown across the entire property in early summer 2006 by Klondike Silver.  While the known veins show little to no VTEM response, four conductors were identified along strike in the eastern part of the property.  This area also returned the highest lead values obtained from stream sediment samples collected from the property.  Data reduction and modeling of specific conductors are currently in process by Geotech Limited.

The 2007 program will consist of roughly 400 hours of excavator trenching to test along strike from, and completely across, the known veins in order to evaluate both high grade and bulk potential of the system.  Trenching will also be done across numerous unexplored geochemical anomalies that lie between the known veins.  Approximately 1000 m of diamond drilling will be done beneath the best targets identified by the trenching program.  Additional mapping, prospecting and soil geochemical surveys will be conducted concurrently with the trenching and drilling programs.  This work is expected to start in early July following the completion of drilling at the Idaho Creek property.

Richard Hughes states “the Idaho Creek and Connaught properties offer an excellent chance for significant new discoveries and we are eager to commence the 2007 exploration programs”.    

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101.

Mr. Bill Wengzynowski, P.Eng is designated as the qualified person who reviewed this information and will be supervising the exploration in the 2007 season.

On behalf of the Board of Directors

Klondike Silver Corp.

Signed “Richard W. Hughes”

President

Contact: 604-685-2222