Klondike Gold Corp. reported gold assay results from eleven diamond drill holes at the Gay Gulch Showing on the Klondike District Property (the Property) located in the Dawson mining district, Yukon, Canada. Highlights from Gay Gulch Showing drilling include: Gold mineralization has been intersected by drilling over a 300-meter lateral distance.

The mineralized zone is interpreted to begin at surface with a shallow southeast-directed plunge and remains open. 0.43 g/t Au over 32.7 meters in EC22-467 from 65.1 meters to 97.8 meters at 210 azimuth. 0.42 g/t Au over 34.5 meters in EC22-468 from 38.0 meters to 72.5 meters at 290 azimuth.

0.60 g/t Au over 27.85 meters in EC22-477 from 23.0 meters to 50.85 meters at 290 azimuth. Drilling intersected extensive silicification in graphite schist adjacent the schist-graphite fault associated with a modelled anticlinal fold hinge. The recently reported high grade quartz vein sampled in outcrop came from the schist- graphite fault contact exposed at surface which assayed 4,064 g/t Au with 1,149 g/t Ag.

Assay results for eleven (11) drill holes, EC22-467 to EC22-477, have been received which tested the Gay Gulch Showing over a 300 meter length. Eleven holes targeted Gay Gulch Showing mineralization in 2022. Six holes were drilled at 210 azimuth to test for gold mineralized sheeted veins comprising typical mineralization at the Gay Gulch Showing.

Mineralized intersections in 210-directed holes are approximately true thickness determined from quartz vein measurements from sheeted veins. Five holes were drilled at 290 azimuth mineralization to test for the graphitic fault structure and associated mineralization. Mineralized intersections of 290-directed holes intersecting silicification and quartz veining along the graphitic fault are estimated 70% of true thickness based on indication of shallow plunge to southeast supported by 3D modeling of mineralized extents.

Mineralized intervals in holes EC22-472, EC22-474, and EC22-475 are interpreted to have intersected the top of the gold mineralized envelope consistent with a southeast plunge. Mineralization remains open and untested to the southeast. All 2022 drill holes referenced in this release produced NTW (5.71 cm dia.) drill core.

Assay samples from drill core are cut using a diamond saw. Half the core sample interval is bagged, tagged, and sealed; the other half is returned to the core box with a corresponding tag retained for reference. Two gold reference standards, two blank samples (a coarse and a fine), and a coarse sample duplicate per 100 samples, are routinely inserted as part of Klondike Gold's quality assurance /quality control (QA/QC) program, independent of and additional to the laboratory QA/QC program.

Sample bags are aggregated into rice bags, sealed, and submitted by Klondike Gold personnel to Bureau Veritas Mineral Laboratories (BV Labs) preparation facility in Whitehorse, Yukon, with chemical analysis of sample pulps completed in Vancouver, British Columbia. BV Labs is an accredited ISO 9001:2008 full-service commercial laboratory. At BV Labs each drill core sample is crushed to 80% passing 2 mm size.

A 500 g subsample is pulverized to >85% passing -75 microns size (200 mesh; code PRP70-500). All samples of 500 g are sieved to 106 microns (140 mesh) for "metallic screen" assaying. The +140 mesh fraction is weighed and assayed for gold by fire assay (FA) fusion with a gravimetric finish (code FS631).

A 30 g subsample of the -140 mesh fraction is assayed for gold by fire assay (FA) fusion with an atomic absorption (AA) finish (code FA430). All over-limit results in excess of 10 ppm (10 g/t) for both silver and gold are re-assayed using a 30 g subsample and assayed by FA with a gravimetric finish (code FA530-Au/Ag). Total gold grade is then calculated using a weighted average of the plus and minus fraction assay results.

BV Labs independently inserts QA/QC standards, blanks, and sample duplicates through each analytical process.