Klondex Reports Fiscal Year 2013 Annual Results - Seite 2

Underground development and testing of Fire Creek Project mineralized structures began in May 2013 and continued throughout the year. By the end of 2013, the program totaled 573 m (1,880 ft) including 418 m (1,371 ft) and 155 m (509 ft) of development on the Joyce (A) and Vonnie (B) structures, respectively, for a total of 6,208 ounces of Gold extracted, at an average head grade of 44.3 g/t (1.291 opt) gold.

Subsequent to the quarter, in the first two months of 2014, a total of 174 m (572 ft) of mineral development occurred on the Joyce, 59 m (193.6 ft) and Vonnie, 115 m (377.3 ft), structures. Development along these structures is planned to continue throughout 2014.

Future Business Activities

The focus over the course of 2014 will be to continue to advance current activities related to the Fire Creek Project and Midas Mine, with the objective of completing the following items:

• Prepare a Preliminary Economic Assessment ("PEA") on the Fire Creek Project.

• Continued operations at Fire Creek and Midas; shipping mineralized material from the Fire Creek Project to the Midas Mill where it will be blended with the material from the Midas Mine and processed to recover precious metal.

• Continued infill and exploration drilling at Fire Creek and Midas.

• Fire Creek development will include work on the Fire Creek Environmental Assessment ("EA") permit, allowing full-scale mining at the Fire Creek Project, and constructing a RIB as part of the Fire Creek Project's long-term water management plan.

For details regarding Klondex's 2013 annual results, readers should refer to the comparative audited consolidated financial statements of Klondex for the year ended December 31, 2013 (together with the auditor's report thereon) and management's discussion and analysis in relation thereto, each of which is available under Klondex's profile on SEDAR at www.sedar.com.

2013 Annual Results Conference Call

Management will host a conference call to discuss the year-end financial results and will take questions from call participants. The call will coincide with Klondex Mines' upcoming Fire Creek PEA expected mid-April. Details of the call will be provided within the PEA announcement.

Mark Odell, P.E., Principal Engineer, Practical Mining LLC, is the Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") responsible for and has approved the technical information contained in this press release.