Klondex Releases Fire Creek Drill Program Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2014) -

Highlights:

• 157.8 g/t (4.6 opt) Au over 3.55 m (11.4 ft) - FCU-0199 - Karen Vein
• 85.7 g/t (2.5 opt) Au over 4.68 m (15.0 ft) - FCU-0209 - Karen Vein
• 1,474.6 g/t (43.0 opt) Au over 0.62 m (2.0 ft) - FCU-0043 - Joyce Vein
• 367.6 g/t (10.7 opt) Au over 1.87 m (6.0 ft) - FCU-0086 - Joyce Vein
• 1,404.6/t (41.1 opt) Au over 0.53 m (1.7 ft) - FCU-0011 - Vonnie Vein
• 174.9 g/t (5.1 opt) Au over 1.00 m (3.2 ft) - FCU-0160 - Hui Wu Vein

Klondex Mines Ltd. (TSX:KDX)(OTCQX:KLNDF) ("Klondex" or the "Company") today provides an update on recent underground infill and exploration drilling from its Fire Creek gold project near Elko, Nevada. An updated mineral resource estimate for Fire Creek, which includes these drill results, is expected to be released in 4Q2014.

In all, 124 infill and exploration core holes have been drilled since February 1, 2014 for a total of 12,490 meters (40,976 ft) (see Table 1). The core holes were drilled from multiple drill platforms and from various locations in existing mineral headings (See FIGURE 1). Drilling from the existing headings provided opportunities to define the veins in areas that were previously inaccessible to drilling. The objective of the infill drill program (<100 ft drill spacing) is to convert the inferred mineral resource to the measured and indicated category.

The increased confidence of the strike length and up/down dip projections in our model will allow Klondex to develop more accurate short and long term mine plans. The known limits of the veins' projected dip and strike length remain open and are constrained only by drilling.

Main Zone

Vonnie Vein:

• Infill drilling increased confidence of 930' of strike length and 375' of dip extent.

Joyce Vein:

• Infill drilling increased confidence of 900' of strike length and 575' of dip extent.

West Zone

Hui Wu Vein:

• Infill drilling increased confidence of 600' of strike length and 300' of dip extent.

Karen Vein:

• Infill drilling increased confidence of 600' of strike length and 275' of dip extent.

Honeyrunner:

• The defined strike length of the Honeyrunner is approximately 472 m (1,550 ft), and 160 m (525 ft) of known vertical dip extent (see press release dated September 15, 2014).

Brent Kristof, Chief Operating Operator of Klondex, commented, "We are encouraged by these high grade drill intercepts and the results of additional infill and exploration drilling at Fire Creek. All vein structures remain open along strike and up and down dip. Given this, Klondex continues to look to expand the life of the Fire Creek Project through its drilling programs.