Mr. Thomas Kennedy reports

KLONDIKE PROVIDES UPDATE ON PROPOSED SHARE CONSOLIDATION

Further to the news release dated Jan. 23, 2026, and Jan. 24, 2026, Klondike Silver Corp.'s board of directors has approved the consolidation of its issued and outstanding common shares of the company on the basis of one new common share for every 10 outstanding common shares.

The company believes the consolidation will enhance its flexibility in pursuing future financing opportunities. The consolidation remains subject to approval of the TSX Venture Exchange.

As of the date hereof, the company has 268,882,107 common shares issued and outstanding. Following completion of the consolidation, the company expects to have approximately 26,888,210 common shares issued and outstanding, subject to adjustments for rounding. No fractional common shares will be issued in connection with the consolidation. Any fractional interest arising from the consolidation will be rounded to the nearest whole common share, with fractions of one-half (0.5) or greater rounded up and fractions of less than one-half (0.5) rounded down. No cash consideration will be paid in respect of fractional shares. The exercise price and number of common shares issuable upon the exercise or conversion of the company's outstanding convertible securities will be proportionately adjusted in accordance with their respective terms.

The common shares are expected to commence trading on a postconsolidation basis on or about Feb. 24, 2026, subject to receipt of all required approvals. The new ISIN and Cusip for the postconsolidation common shares will be CA4987223050 and 498722305, respectively. The company will retain its current name, Klondike Silver Corp., and trading symbol, KS.

Registered shareholders as of the record date will receive a letter of transmittal with instructions for exchanging their preconsolidation share certificates for postconsolidation share certificates. Beneficial shareholders holding shares through a broker or other intermediary will not be required to take any action, as their holdings will be adjusted electronically.

Pursuant to the provisions of the Business Corporations Act (British Columbia) and the articles of the company, the consolidation was approved by way of resolutions passed by the board of directors of the company.

About Klondike Silver Corp.

Klondike Silver is a Canadian public company listed on the TSX Venture Exchange under the symbol KS. The company is a resource exploration company engaged in the acquisition and exploration of mineral properties.

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