May 19, 2020 – Vancouver, Canada – Klondike Silver Corp. (the “Company”) (TSX.V: KS) has arranged a loan with a non-related party (the “Lender”), pursuant to which the Lender has agreed to loan Cdn$45,000 to the Company. The loan bears interest at 1.5% per month and is repayable in one year. In consideration for the loan, the Company has also agreed to issue 257,142 bonus common shares, at a deemed price of $0.035 per share. The shares are subject to a four month and one-day hold period, in accordance with the policies of the TSX Venture Exchange and applicable securities law. Loan proceeds will be used for working capital. The terms of the loan are subject to acceptance by the TSX Venture Exchange.
About Klondike Silver
Klondike’s Silvana Mine Silver Lead Zinc project is located in South Eastern B.C., 138 km north of the Trail B.C. smelter. The Company is actively exploring from underground, the western extension of the Silvana Mine, along the “Main Lode”. The “Main Lode” is a 9 km structure which is the most prolific mineralized structure in the Slocan Mining Camp. There are 13 historical mines that are situated along the 9 km “Main Lode” structure which has produced 886,000 kg of silver, 117 million kg lead and 95 million kg of zinc so far (source: BC MINFILE).
|On Behalf of the Board of Directors
|Klondike Silver Corp.
||Dale Dobson: (604) 682-2928
|Thomas Kennedy, B.Comm., J.D.
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Klondike Silver Corp. which may cause actual results, performance or achievements of Klondike Silver Corp. to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.