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News Release

News Release August 9, 2012

FOR IMMEDIATE RELEASE: August 9, 2012
TSXV: KG

PRIVATE PLACEMENT ANNOUNCEMENT

VANCOUVER, BC- Klondike Gold Corp. (the "Company") is pleased to announce it is arranging for a private placement of up to 6 million units for total proceeds of up to $600,000. The Unit financing will consist of either flow-through shares or non flow-through shares in addition to one-half, non-transferable share purchase warrant entitling the purchaser to purchase one common share for every full warrant at a price of $0.20 for three years. The offering will be priced at $0.10 per unit for non flow-through share units and at $0.12 per unit for flow-through share units.

The private placement is subject to regulatory approval and, in accordance with Exchange policies, finders' fees may be paid on a portion of the funds raised. Proceeds will be used for exploration expenditures on the Company's Yukon and British Columbia properties, to fund additional exploration on new targets and general working capital.

The Company has tendered the Take-Over Offer for Klondike Star Mineral Corporation (see NR # 12.0405) and expects to include an additional 411 Klondike Star mineral claims into the Klondike Goldfield exploration program. Klondike Gold Corp. currently hold 699 Mineral Claims in the Klondike Goldfields and the inclusion of the Klondike Star claims will boost the number of claims under exploration to 1,110 claims covering approximately 200 square km in the center of the Klondike Goldfields.

About Klondike Gold Corp.

Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia and Dawson City, Yukon. The Company is focused on the development of its Yukon and British Columbia gold properties. In addition the Company holds a large portfolio of base metal projects in southeastern British Columbia.

CONTACT INFORMATION

Inquiries: Robert A. Young 604-685-2222 (Ext 398)
Email: info@klondikegoldcorp.com

or

Erich Rauguth, President & CEO 604-685-2222
www.klondikegoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

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Klondike Gold Mining Corp.

	EXPLORATION STAGE
	CODE : KG.V
	ISIN : CA4989032020

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Klondike Gold is a gold exploration company based in Canada.

Klondike Gold holds various exploration projects in Canada.

Its main exploration properties are KOOTENAY KING, RON GOLD GROUP, IRISHMAN, INDIAN RIVER, PIT, SPICE, VILLEBON, PAYDAY, CRUZ, JCD, ESQUEGA, MATARROW MINE, INDIGO, IOCG CRANBROOK SOUTH, WAWA, KLONDIKE STAR / KLUANE (AKA LONE STAR), GOLDEN EGG, RED POINT, METEOR LAKE and CLUBINE in Canada.

Klondike Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 6.2 millions as of today (US$ 4.6 millions, € 4.3 millions).

Its stock quote reached its highest recent level on November 29, 1996 at CA$ 97.55, and its lowest recent point on August 18, 2023 at CA$ 0.08.

Klondike Gold has 65 650 000 shares outstanding.

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Klondike Gold Mining Corp.

KG News Release, August 9, 2012

Klondike Gold Mining Corp.