VANCOUVER, British Columbia--(BUSINESS WIRE)--Klondex Mines Ltd. (TSX: KDX.TO) announces that an aggregate of 1,100,000 incentive stock options have been granted to directors, consultants and key employees at an exercise price of $0.86 per share, being the five- day volume weighted average price of the Company’s shares on the Toronto Stock Exchange (the “Exchange”). The options are exercisable for a period of five years, ending on September 17, 2013, and are subject to the requirements of the Exchange and the Company’s Stock Option Plan.
About Klondex Mines Ltd.:
Klondex Mines (TSX: KDX.TO) is a gold exploration company focused on the development and expansion of its high-grade Fire Creek deposit in Nevada, covering 10,708 acres of fee and federal mining claims 100% controlled by Klondex. At Fire Creek, Klondex has a September 2006, NI 43-101 defined Indicated Mineral Resource estimated at 1,636,555 tonnes grading 19.88 grams per tonne (0.639 oz/tonne) containing 1,045,738 oz of gold in two separate mineral zones. Since 2006, over 100,000 feet of drilling has expanded the Company’s resource, now being defined for an updated 43-101. Klondex has filed for permits to begin bulk sampling for metallurgical testing of up to 120,000 tons of ore and anticipates receipt of these permits in 2008.
Fire Creek is located along the Northern Nevada Rift and on the Battle Mountain-Eureka Trend in North Central Nevada, an area of prolific gold production. Klondex currently has three drill rigs working to expand its resource at Fire Creek. The Company was founded over thirty years ago, and its property portfolio consists of four gold exploration projects, all in Nevada. Eighty percent of Klondex's known resource is on private land. For more information, please visit www.klondexmines.com.
ON BEHALF OF KLONDEX MINES LTD.
"William J. Solloway"
President
Investors:
Jaffoni & Collins Incorporated
David Collins /
Ratula Roy, 212-835-8500
KDX@jcir.com
100.26 (1.10%)
