Mr. Peter Tallman reports

KLONDIKE GOLD REPORTS ADDITIONAL MONTANA CREEK ROYALTY GOLD RECEIPTS, ANNOUNCES PHASE 2 2026 DRILL PROGRAM AND PROVIDES EXPLORATION UPDATE

Klondike Gold Corp. has obtained additional gold royalty receipts from Armstrong Mining Corp. related to continuing placer mining operations at the Montana Creek placer property. The company has also completed a detailed hyperspectral scanning program across 22,352.1 metres of drill core and is preparing to commence phase 2 of its 2026 diamond drill program at its 100-per-cent-owned Klondike district project in the Dawson mining district, Yukon territory, Canada.

Highlights:

• Montana Creek royalty receipts increased: received cumulative 2026 royalty receipts of 377.7 ounces of placer flake gold at approximately 82-per-cent purity to Aug. 23, 2026, an increase of 201.6 ounces since the company's July 23, 2026, update; following refining, the company has been credited with approximately 306 ounces of refined gold at 99.99-per-cent purity;
• Hyperspectral analysis completed: completed hyperspectral scanning of 22,352.1 metres of drill core; analysis is under way and is expected to provide quantitative alteration mapping to assist in identifying and targeting alteration associated with gold mineralization;
• Phase 1 assays pending: analytical results remain pending from the 7,697.17 metres of NTW diamond drilling in 34 drill holes during phase 1 of the 2026 exploration program;
• District-scale exploration: detailed and regional structural mapping and analysis are continuing and are being integrated with hyperspectral data, to refine drill targets within the Klondike district project;
• Updated mineral resource estimate planned: work is under way toward an updated mineral resource estimate incorporating drilling completed between 2022 and 2026; the updated MRE is currently targeted for completion during the first half of 2027.

Phase 2 drilling: Up to 8,000 metres of diamond drilling is scheduled to begin in September, 2026. Phase 2 drill targeting is being informed by detailed structural mapping, hyperspectral alteration analysis and the company's continuing geological interpretation.

Peter Tallman, president and chief executive officer of Klondike Gold, stated: "We are pleased to be advancing directly from the completion of phase 1 into the next stage of our 2026 exploration program. The integration of structural mapping, hyperspectral alteration data and our evolving 3-D geological model is helping us refine targets as we continue to build our understanding of the Klondike district. With up to 8,000 metres of phase 2 drilling planned for September and assays from phase 1 pending, we expect the balance of this year's exploration work to provide additional information for the updated mineral resource estimate targeted for the first half of 2027. At the same time, the continued receipt of Montana Creek royalty gold provides an increasingly valuable source of non-dilutive funding that supports our ongoing exploration and resource development."

Exploration update

The company continues to advance its systematic exploration program at the Klondike district project. LithologIQ of Montreal, Que., has completed on-site hyperspectral scanning of 22,352.1 metres of drill core. Analysis of the hyperspectral data set is under way and is expected to provide quantitative information on alteration signatures associated with gold mineralized structures. The results are being integrated with detailed and regional structural mapping, geological interpretation and the company's evolving 3-D geological model to improve the understanding of controls on mineralization and refine drill targets.

Detailed and regional structural mapping and analysis are also continuing across the Klondike district project. This work is being used to refine geological interpretations around known mineralized zones and identify opportunities for follow-up exploration elsewhere within the company's district-scale land package.

Based on this continuing work, the company is preparing to commence phase 2 of its 2026 diamond drill program, comprising up to 8,000 metres of additional drilling beginning in September, 2026. Phase 2 is intended to test priority targets identified through the integration of structural mapping, alteration mineralogy, geological interpretation and results from the company's continuing exploration program.

Assay results remain pending from the company's phase 1 program, which comprised 7,697.17 metres of diamond drilling in 34 holes targeting extensions of the Lone Star zone mineral resource area. Phase 1 results will be incorporated into the company's geological model and continuing drill-targeting work as they become available.

Mineral resource update

The company's 2026 exploration program forms part of the company's broader multiyear exploration strategy to systematically test extensions of known mineralization and advance additional targets within the Klondike district.

Drilling completed between 2022 and 2026 is being incorporated into work toward an updated National Instrument 43-101 technical report and mineral resource estimate, currently targeted for completion during the first half of 2027. The company's current National Instrument 43-101 2022 mineral resource estimate ("NI 43-101 Technical Report on the Klondike District Gold Project, Yukon Territory, Canada," is dated Dec. 16, 2022, with an effective date of Nov. 10, 2022, prepared by Marc Jutras, PEng, MASc, Ginto Consulting Inc., and Stephen Kenwood, PGeo) and is available under the company's profile on SEDAR+.

The company plans to update the gold mineral resource at the Lone Star zone and evaluate the inclusion of a tellurium mineral resource. Tellurium is recognized by the government of Canada as a critical mineral. The company also plans to update the gold mineral resource at the Stander zone. The company is also reviewing data sufficiency to allow for estimation of one other gold showing.

Montana Creek placer property 2026 royalty receipts

Under the lease-to-purchase agreement announced March 11, 2025, Armstrong Mining delivers to Klondike Gold 10 per cent of placer gold recovered from the Montana Creek placer property (refer to the company's news release "Klondike Gold Receives $500,000 for Lease of Montana Creek Placer Property" dated March 3, 2025, and filed under the company's profile on SEDAR+).

Armstrong Mining continues placer mining operations at the Montana Creek placer property, from which Klondike Gold receives a royalty interest. For 2026 up to Aug. 23, 2026, the company has received cumulative royalty receipts representing 377.7 ounces of placer flake gold at approximately 82-per-cent purity. The additional receipts represent an increase of 201.6 ounces of placer flake gold from the company's previous update dated July 23, 2026. Following refining, the company has been credited with approximately 306 ounces of gold at 99.99-per-cent purity. The difference between received flake gold weight and refined credited ounces reflects estimates of gold purity, refining recovery, smelting charges, government royalties and applicable fees. Future royalty receipts depend on the level and timing of placer mining operations and gold recovered by Armstrong Mining over which Klondike Gold does not exercise operational control.

The continuing royalty provides Klondike Gold with recurring gold receipts which supports continued exploration activities and general corporate purposes as the company advances exploration and resource development at its 100-per-cent-owned Klondike district project.

Qualified persons

The technical and scientific information contained within this news release has been reviewed and approved by Peter Tallman, PGeo, president and chief executive officer, and Lauren Scantlebury, PGeo, director of exploration, who are both considered a qualified person as defined by National Instrument 43-101 (Standards of Disclosure of Mineral Projects). Additional technical information supporting the company's exploration programs, analytical procedures and mineral resource estimate is available in the company's NI 43-101 technical report filed under the company's profile on SEDAR+.

About Klondike Gold Corp.

Klondike Gold is a Canadian exploration company advancing its 100-per-cent-owned Klondike district project in Yukon territory covering a 727-square-kilometre district-scale land package encompassing the entirety of the historic Klondike goldfields placer district, one of the world's most historically significant placer gold districts. The company is focused on discovering and developing large-scale gold resources through systematic exploration and geological modelling. The company also maintains a royalty interest in the Montana Creek placer property.

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