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      Klondike Silver Corp. Commences Underground Drilling in 4625 East
      Decline
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.. DRILLING TO TEST EAST DECLINE OF 4625 LEVEL WHILE DRIFT IS
        EXTENDED IN WESTERN PART INTO NEWLY DISCOVERED LODE STRUCTURE

.. DRILL TO BE MOVED TO WESTERN EXTENSION UPON COMPLETION OF THE
        DRIFT

.. PAST DRILLING SHOWS HIGH-GRADE MINERALIZATION OVER NARROW WIDTHS
        IN MULTIPLE SECTIONS OF 4625

VANCOUVER, BC - Klondike Silver Corp. (TSX-V: KS) (the "Company") is
pleased to announce it has commenced a diamond drilling program and
re-evaluation in an easily accessible, partly-explored area near former
productive stopes.  Test mining is planned for this area on and just
below the main 4625 Level of the Silvana Mine.  The program is taking
place as the Company is also extending a drift at the west end of the
4625 level into the recently discovered lode structure (see press
release October 7, 2009).  Upon completion of the western drift
extension the drill will be moved to drill into the lode structure to
test for mineralization.

The Company has identified an area close to and updip of the East
Decline (main access to the lower levels of the Silvana Mine) which in
the past received limited diamond drilling partly because of its
proximity to this main production haulageway.  Earlier drilling shows
intermittent narrow widths of high grade mineralization in an overall
area of several thousand square feet.  This occurs in the Main Lode
structure between more consistently mineralized areas.

In-fill diamond drilling is planned for the gaps between the narrow
intercepts to identify possible mineralized areas amenable to
small-scale mining.  Preliminary work has been completed including
rehabilitation in both the 4625 East Drift and East Decline accesses
with rock removal in the latter and re-establishing electric,
compressed air and water services.  Total drilling planned is 600 feet
in up to 8 holes drilled from the 4625 East Drift and the East Decline.
 The intent is to explore at or above the elevation of the main 4625
Level so that no sinking would be necessary to access any remove
mineralized material selected for milling.

Test mining would be by via cross-cutting to and/or raising relatively
short distances (< 100 feet) to the Main Lode structure in any
identified areas of interest.  As with the 4755 Level program
previously announced grade control would be paramount, to include
extensive channel and muck sampling to identify the economic production
area(s).  Similarly the muck from the development would be evaluated
and stockpiled.  On-site assaying of samples is available by fire and
wet methods and by a newly commissioned Niton XRF analyzer.  The Niton
analyzer enables rapid multiple determinations of metal contents in
conventionally-prepared samples. Turnaround time and quantity of data
available to the mining operation are improved, both relevant factors
in decision-making on a daily basis.  Personnel using the XRF device
are certified by NRCAN.  Niton analyzer results are for in-house
purposes only and are not NI 43-101 compliant.

The Qualified Person for the purpose of National Instrument 43-101 is
Ed Craft, PEng, who has read and agreed with the technical information
in this news release.

About Klondike Silver:

Klondike Silver Corp. has assembled a quality portfolio of silver
properties in historic mineral districts in North America, and is
applying advanced exploration technologies to add value to these core
assets.  Klondike Silver is reviving the Gowganda and Elk Lake silver
camps in Ontario, and the world-famous Klondike district of Yukon
Territory. The Company owns a 100 TPD fully operational flotation mill
in Sandon, BC, which is currently processing material from one of its
Yukon properties and local mines in the historic Slocan Silver Camp.

Klondike Silver is a member of the Hughes Exploration Group of
Companies and is led by a team with a stellar track record of discovery
and development in Canada.

Contact Information:

Corporate Inquiries:
Kevin Hull or Alan Campbell, (604)-685-2222
Email: info@klondikesilver.com

Or visit Klondike Silver's web-site: www.klondikesilver.com to see
Smartstox interviews with Company President, Richard Hughes.

AGORACOM Investor Relations
Email: KS@agoracom.com;    Website:
http://www.agoracom.com/ir/KlondikeSilver

The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy or contents of this news release.

The statements made in this news release may contain forward-looking
statements that may involve a number of risks and uncertainties.
Actual events or results could differ materially from the Company's
expectations and projections.

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Copyright (c) 2009 KLONDIKE SILVER CORP. (KS)  All rights reserved.
For more information visit our website at
http://www.klondikesilver.com/ or send mailto:info@klondikesilver.com
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