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Canada Business News and Press Releases
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(EMAILWIRE.COM, September 12, 2011 ) Press Release Distribution Services: http://tojongmboh.emailwire.com
ELKO, NV & VANCOUVER, BC -- Klondex Mines Ltd. (TSX: KDX; "Klondex") has received an updated technical report on its 100%-owned Fire Creek gold property in the Battle Mountain-Eureka Trend in Northern Nevada. The report, prepared in compliance with National Instrument 43-101 ("NI 43-101"), outlines the following resource:
"The updated Indicated Mineral Resource at a 4 gram per tonne cut-off produced an indicated resource estimate of 5,176,050 tonnes at 9.9 gpt for 1,647,052 ounces of gold with an average interval true width of 6.7 meters. The cut-off grade also resulted in an inferred resource estimate of 1,732,810 tonnes grading 8.22 gpt for 458,084 ounces of gold."
Unlike the last resource completed in 2009, which used a gold equivalent comprised of gold and silver, the updated resource includes only gold. Despite the elimination of silver, the current Indicated Mineral Resource's 1,647,052 gold ounces are slightly higher than the 2009 Indicated Mineral Resource total gold equivalent (gold + silver; 60 ounces of silver equal one ounce of gold) of 1,639,822 ounces using a 5 gram per tonne (gpt) cut-off. The updated resource is reviewed in the table below. For more detailed information on the updated mineral resource estimates, please refer to Klondex's disclosure which will be available shortly on the SEDAR website (www.sedar.com).
[Table not available]
During 2009 and 2010, 14 holes were drilled to in-fill known mineralization, eight holes were drilled to extend the known zones along strike and 13 holes were drilled to test new geophysical targets. In-fill drilling reduced the updated Indicated Mineral Resource slightly while extension drilling south of the Main resource increased this resource modestly. Although drilling of geophysical targets has found several new vein zones including veins east of Main and south of Far North, these mineralized intercepts could not be included in the updated Indicated Mineral Resource because drilling density is not yet sufficient.
The mineral resources mentioned in the updated 43-101 report have the meanings given to such terms by the Canadian Institute of Mining, Metallurgy and Petroleum as the CIM Definition Standards on Mineral Resources and Mineral Reserves, as amended. This report is an update to the report received in March 2009 and is based on information from site examinations and a review and interpretation of existing data and documents from previous mineral exploration programs. Klondex provided all available reports and data records from files that have been collected from previous exploration efforts by other mining companies and documents generated by Klondex exploration.
The updated report entitled "Updated Technical Report and Resource Estimation on the Fire Creek Gold Property, Lander Co., Nevada" by Edwin Ullmer, M.S., (P.Geo) of Westminster, Colorado, Wesley Raven, B.Sc., (P.Geo) of Vancouver, British Columbia and Gary Hawthorn, B.Sc., (P.Eng) of North Vancouver, British Columbia will be filed on SEDAR.
Each of Edwin Ullmer, Wesley Raven, and Gary Hawthorn is an Independent Qualified Person as required under NI 43-101 and has reviewed and approved the technical information contained in this press release.
All sample preparation, including crushing, grinding and preparation of the assay pulps, as well as sample analysis, was performed by ALS/Chemex in their Nevada facilities.
About Klondex Mines Ltd. (www.klondexmines.com):
Klondex Mines is focused on the exploration and development of its 100% owned Fire Creek gold deposit in North Central Nevada. As of August 31, 2011, Klondex had 37.0 million shares issued and outstanding and 42.9 million shares on a diluted basis.
On Behalf of Klondex Mines Ltd.
Blane W. Wilson
President & CEO
Klondex Mines Ltd.
Corporate
(775) 738-6070
info@klondexmines.com 
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