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Re:   News - Tuesday, June 30, 2009
      Klondex Completes $3.0 Million Financing with China Mineral
      United to Fund Near-Term Obligations
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- Klondex Expects Grant of BLM Permits Within 30 Days for Fire Creek
Underground Program -

Vancouver, British Columbia - June 30, 2009 - Klondex Mines Ltd. (TSX:
KDX) announced today it has completed a private placement with China
Mineral United Management Limited (CMU) for 1,714,285 common shares of
Klondex at a price of CDN $1.75 per share, yielding gross proceeds of
CDN $3.0 million.  The price was determined based on the Volume
Weighted Average Price (VWAP) of Klondex common shares Thursday, June
25, 2009, the day the agreement on price was reached.  Proceeds of the
financing, which have been received by Klondex, in addition to
approximately CDN $1.0 million in proceeds from the recent exercise of
stock purchase options and warrants, will fund Klondex's near-term
obligations, including the costs of responding to the unsolicited
takeover bid made by Silvercorp Metals Inc. (TSX: SVM; NYSE Amex: SVM),
upcoming property payments, exploration and corporate overhead as well
as expenses triggered by the anticipated grant of permits by the U.S.
Bureau of Land Management (BLM) for the Company's underground program
at its Fire Creek deposit in North Central Nevada.  BLM permits are
currently expected within 30 days.

William Solloway, Klondex's president, commented, "We are pleased to
welcome China Mineral United Management as a long-term investor in our
Company and provide the funding required for the development of our
Fire Creek deposit as we anticipate the near-term receipt of permits
required to initiate our underground program.  This funding enables
critical operations to proceed at the same time as our Special
Committee of the Board and Financial Advisors develop and review
potential strategic alternatives to the current Silvercorp Offer."

In connection with the Private Placement, Klondex has agreed to appoint
one nominee of CMU to the board of directors of Klondex.  CMU has not
yet provided a nominee.  In addition, CMU has the right to participate
in the next $20 million of future equity issuances by Klondex that are
carried out by June 29, 2011, to a maximum of 50% of each such
issuance. The right of CMU to appoint a director, and to participate in
future equity issuances, will earlier terminate if Klondex ceases to be
a reporting issuer.

Klondex paid a finder's fee to an arms-length finder in connection with
the Private Placement.  Shares issued under the private placement are
subject to a hold period of four months in Canada.

Reflecting the issuance of shares pursuant to this financing and the
recent exercise of options and warrants, as of June 30, 2009, Klondex
had 29,169,089 shares issued and outstanding and 34,979,089 shares on a
fully diluted basis.

About CMU and China Mining United Fund:
China Mineral United Management Limited is an affiliate of China Mining
United Investment Co., Ltd. and the China Mining United Fund (the
"Fund").  The Fund was established in May 2009 raising initial capital
of 500 million Renminbi (US $73 million) and was approved by the
National Development and Reform Commission of the People's Republic of
China.  It is among the first funds to be registered by the State
Administration for Industry and Commerce with a mandate to seek foreign
and domestic investments in the resource sector.

Founded by approximately 300 mining entrepreneurs in China, the Fund
and its affiliates and subsidiaries seek investment in resource
projects in Western Europe, Africa, Australia and North America and
will also engage in providing credit guarantees and short term loans to
resource companies.  It is the Fund's intent to raise a further 9.5
billion RMB (US $1.4 billion) to fulfill its investment mandate for
companies such as Klondex Mines in areas such as gold, copper and iron
ore.  Klondex is among the Fund's first investments.

The Fund is chaired by Mr. Zheng Zhi, the founder of the Zhengda Group,
and its senior management team includes the former General Engineer of
China's Smelting Metal Department; the former General Engineer of BHP's
mining exploration company and senior geological consultant to the
World Bank; and the former Chief Representative of Ivanhoe Mines in
China, amongst others.

About Klondex Mines:
Klondex Mines Ltd. is a gold exploration company focused on the
development and expansion of its 100%-owned, high-grade Fire Creek
deposit in Nevada which consists of 11,098 acres of fee land and
unpatented mining claims.  In March 2009 Klondex defined and disclosed
in a technical report entitled "Updated Report on the Fire Creek Gold
Property Lander Co., Nevada" dated March 30, 2009, an Indicated Mineral
Resource at Fire Creek estimated at 5,043,033 tonnes grading 10.11
grams per metric ton (gpt) containing 1,639,822 ounces of gold
equivalent and an Inferred Mineral Resource Estimated at 1,833,423
tonnes grading 8.63 gpt for 508,799 ounces of gold equivalent.  The
Fire Creek deposit is classified as a "bonanza" grade epithermal gold
deposit characterized by high-grade drill intervals including 1.52
meters grading 411 grams (13 oz.) per metric ton in hole FC0417.
Richard Kern (P.Geo), Project Manager, of Reno, Nevada, is the
Company's qualified person on the project as required under NI
43-101and has reviewed the technical information contained in this
press release.

Fire Creek is located in North Central Nevada, an area of prolific gold
production, at the intersection of the Battle Mountain-Eureka Trend and
the Northern Nevada Rift.  The Company was founded over 35 years ago,
and its property portfolio consists of four gold exploration projects,
all in Nevada.  75-80 percent of Klondex's known resource is on private
land.  For more information, please visit www.klondexmines.com.

For Further Information Contact:
David Collins, Ratula Roy Velez
Jaffoni & Collins Incorporated
KDX@jcir.com
(212) 835-8500

Cautionary Statement:
This news release may contain forward-looking statements.  Actual
results may differ materially from those indicated by such statements.
All statements, other than statements of historical fact, included in
this news release, are forward looking statements that involve various
risks and uncertainties.  There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements.

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Copyright (c) 2009 KLONDEX MINES LIMITED (KDX)  All rights reserved.
For more information visit our website at http://www.klondexmines.com/
or send mailto:info@klondexmines.com
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