Mr. Peter Tallman reports

KLONDIKE GOLD CLOSES $3,086,959 NON-BROKERED FINANCING TO EXPAND 2026 DRILL PROGRAMS

Klondike Gold Corp. has closed a non-brokered private placement financing, raising $3,086,959.

Peter Tallman, president and chief executive officer of Klondike Gold, comments: "We are energized with the growing support from our strategic investors, providing funding for aggressive plans to expedite the resource expansion and development within our Klondike district gold project. The financing announced today, in conjunction with this season's forecast royalty payments from the Montana Creek Placer mine, will enable us to more than double our seasonal average drilling meterage and fund work. The company's 'first-ever' NI 43-101 mineral resources only included drilling completed to the end of 2021. Klondike Gold has since completed 137 drill holes for 19,137 metres drilled (through 2025) targeting stepouts of known mineralized areas. Our now fully funded plans in 2026 include a further 8,000 metres of drilling targeting stepouts to mineralized zones.

"The objective of this year's focused drill program will culminate in early 2027 with a planned update of National Instrument 43-101 mineral resources from drilling through 2026 drill within our Lone Star and Stander deposits, and potentially including new discoveries as well."

Upon closing the private placement, the company issued 20,579,729 units at a price of 15 cents per unit, with each unit comprising one common share and one common share purchase warrant. The 20,579,729 warrants issued have an exercise strike price of 20 cents per share for a period of two years (Feb. 25, 2028).

All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period expiring on June 26, 2026, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

Four insiders of the company participated in the private placement and acquired an aggregate of 990,000 units. The purchases by these insiders constitute related party transactions within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The issuances are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as they are distributions of securities for cash and the fair market value of the units issued to, and the consideration paid by, the insiders did not exceed 25 per cent of the company's market capitalization. No new insiders were created, nor any change of control occurred, as a result of closing the private placement.

The company intends to use the proceeds from the private placement to continue exploration and development of the company's Yukon properties, as well as for general working capital.

About Klondike Gold Corp.

Klondike Gold is a Vancouver-based gold exploration company advancing its 100-per-cent-owned Klondike district gold project, located at Dawson City, Yukon, one of the top mining jurisdictions in the world. The Klondike district gold project targets gold associated with district-scale orogenic faults along the 55-kilometre length of the famous Klondike Goldfields placer district. Multikilometre gold mineralization has been identified at both the Lone Star zone and Stander zone, among other targets. The company has identified a mineral resource estimate of 469,000 indicated and 112,000 inferred gold ounces (1), a milestone first for the Klondike district. The company is focused on exploration and development of its 727-square-kilometre property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, Yukon, within the Tr'ondek Hwech'in First Nation traditional territory.

(1) The mineral resource estimate for the Klondike district property was prepared by Marc Jutras, PEng, MASc, principal, Ginto Consulting Inc., an independent qualified person in accordance with the requirements of NI 43-101. The technical report supporting the mineral resource estimate, entitled "NI 43-101 Technical Report on the Klondike District Gold Project, Yukon Territory, Canada," has been filed on SEDAR+, effective Nov. 10, 2022. Refer to the news release dated Dec. 16, 2022.

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