Klondike Gold Corp. provided an update on 2023 exploration and development work on the Company's 100% owned Klondike District Property in the Dawson mining district, Yukon, Canada. The objective of 2023 fieldwork was to further examine and relate the Property's gold mineralization within an orogenic gold framework.

The world-class placer gold fields of the Klondike District have produced >20 Moz of gold, primarily from alluvium derived from 5-3 Ma White Channel gravel paleoplacer deposits, that were themselves formed from erosion of bedrock quartz-carbonate orogenic gold vein systems. Applying results from the Company's recent sponsored independent academic research findings (2 PhD, 2 MSc, 2 HBSc thesis, to date) and field visits from orogenic gold experts (Dr R. Goldfarb and Dr. B. Frieman), work this year mapped regional crustal scale faults through the Property using magnetics, electromagnetics, regional gravity, and LiDAR (Light Detection and Ranging) surveys combined with field mapping. From this, multiple areas with orogenic quartz-carbonate gold vein showings received focussed structural mapping and detailed rock sampling. In total this year, 245 rock prospecting grab samples were collected from the Dominion, Gold Run, Gay Gulch, and Violet prospect areas and the eastern Stander Zone mineral resource area.

Visible gold was noted in rock samples from all locales. All 2023 prospecting rock assay results are pending. A total of 2,340 meters of diamond core drilling core in 25 drill holes was completed.

Diamond drill targets this year include Gold Run and Gay Gulch prospects, the eastern Stander Zone mineral resource area and other selected targets. Technical and lithological logging and sampling drill core is now complete. All 2023 drill core assay results are pending.

In addition, an independently managed BLEG (bulk leach extractable gold) stream sediment-sampling program was conducted by Newmont Mining over a large regional area including portions of Klondike Gold's Klondike District Property. The Company will receive results from this survey from samples located within its land position in due course.