KLONDIKE GOLD CORP. (TSX-V:KG)(the
'Company?) is pleased to announce that it has entered into an option
agreement with PJX Resources Inc. ('PJX?) The agreement allows PJX to
obtain a 50% undivided interest to the Company′s Vine Project, located
11 kilometers southwest of Cranbrook, British Columbia. The Property
encompasses 84 claims and covers an area of 6,301 hectares. Under the
terms of the option PJX is committed to spending a total of $1,500,000
over five years on the property, of which $1,000,000 must be spent on
drilling. PJX will also issue to the Compay up to a of 200,000 shares.
This transaction compliments Klondike Gold Corps forward looking
strategy of seeking to joint ventures its base metal projects with
partners that have the capacity to finance and operate them. Klondike
Gold will focus on ?advancing ?its gold properties with priority given to
its Lone Star project in Yukon Territory.
The Company also announces the purchase of two mining claims from
Kootenay Silver Inc. These claims are contiguous with Company′s Hughes
Range property located 24 km north-east of Cranbrook, British Columbia.
The terms of the agreement are a onetime payment of $10,000, and should
either of these two claims go into commercial production the Company
will issue 250,000 shares to Kootenay Silver Inc.
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.
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.
Inquiries
Klondike Gold Corp.
Robert A. Young,
604-685-2222 (Ext 398)
Rauguth, 604-685-2222
President & CEO
