VANCOUVER, BC / ACCESSWIRE / August 6, 2019 / Klondike Gold Corp. (((TSX.V: KG, FRA: LBDP, OTC:KDKGF) ("Klondike Gold" or the "Company") is pleased to report assays from nine drill holes testing the Nugget Zone along the Nugget Fault on the Company's wholly owned 576 square kilometer Klondike District Property, Yukon Territory.

• Drill testing along 200 meters at Nugget Zone has intersected gold mineralization and discovered a new parallel zone of high-grade gold.
• Drill hole EC19-267 intersected new mineralization grading 1,009 g/t Au with 1,035 g/t Ag over 1.0 meter (104.00-105.00 m); this is included in a wider interval that graded 404 g/t Au with 415 g/t Ag over 2.5 meters (104.00-106.50 m). This is a new discovery 25 meters below the known Nugget Zone mineralization and remains open.
• Drill hole EC19-256 intersected Nugget Zone mineralization grading 8.9 g/t Au over 10.0 meters (17.40-27.40 m); this is included in a wider interval grading 4.3 g/t Au over 21.5 meters (5.90-27.40 m) beginning at surface.
• Drill hole EC19-266 intersected Nugget Zone mineralization grading 1.8 g/t Au over 49.6 meters (4.60-54.20 m) beginning at surface.

The Nugget Zone is associated with a prominent, eight-kilometer long magnetic low named the Nugget Fault which hosts gold-bearing quartz veins at Glacier Gulch, Nugget East, Upper Eldorado, several newly discovered c.1900 small mine workings, and outcrops located over a 2.5 kilometer strike length. Drilling targeting the Nugget Fault including the Nugget Zone began around mid-June (see News Release June 10, 2019).

EC19-267 from 104.0 to 105.0 meters downhole intersected an averaged grade of 1,009 g/t gold and 1,035 g/t silver over a 1.0 meter interval. This one-meter interval is a mafic schist containing coarse 2 cm size cubic pyrite in a chocolate coloured presumed ankerite alteration zone that includes a 0.4 meter rubble interval with pyrite. From 105.0 to 106.5 meters downhole the coarse pyrite content decreases and typically gold-bearing cross-cutting quartz veins occur.

Nugget Zone high grade gold-silver mineralization in EC19-267 is comparable to other occurrences sampled in 2014 to 2018 within the Klondike District Property. In 2014, sampling of a sulphidized outcrop yielded up to 1,766 g/t Au with 400 g/t Ag from prospecting rock samples (see News Release January 14, 2015). In 2017, quartz veins were grab sampled that contained 24 and 96 g/t gold, with 110 and 149 g/t silver (see News Release September 28, 2017; O'Neill area quartz veins with Au and Ag). (Prospecting grab samples are selective in nature; systematic test results may vary significantly). The gold-silver association may be used as an exploration tool to target the highest gold grades, using the Company's evolving structural knowledge from mapping and oriented core measurements.

All Nugget Zone samples in this release are from "HTW" size drill core. Assay samples from drill core are cut using a diamond saw. Half the core sample interval is bagged, tagged, and sealed; the other half is returned to the core box with a corresponding tag and retained for reference. Three gold reference standards, blanks, coarse crush blanks, and sample duplicates are routinely inserted as part of Klondike Gold's quality assurance / quality control ("QA/QC") program, independent of and additional to the laboratory QA/QC program.

At BV Labs each drill core sample is crushed to 70% passing 2 mm size. A 400 g subsample is pulverized to 85% passing 75 microns size (200 mesh)(Code PRP70-500). (In addition, from the 1832529 master, a second ~400 g subsample "1832529 DUPLICATE" was prepared by the same method). All samples of 400 g were sieved to 106 microns (140 mesh) for "metallic screen" assaying. The +140 mesh fraction is weighed and assayed for gold by fire assay ("FA") fusion with a gravimetric finish (Code FS631). A 30 g subsample of the -140 mesh fraction is assayed for gold by fire assay ("FA") fusion with an atomic absorption ("AA") finish (Code FA430). All over-limit results in excess of 10 ppm (10 g/t) for both silver and gold are re-assayed using a 30 g subsample and assayed by FA with a gravimetric finish (Code FA530-Au/Ag). Total gold grade is then calculated using a weighted average of the plus and minus fraction assay results.

Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia, and Dawson City, Yukon Territory. The Company is focused on exploration and development of the Lone Star gold target at the confluence of Bonanza and Eldorado Creeks, within a district scale 576 square kilometer property accessible by government maintained roads located on the outskirts of Dawson City, YT within the Tr'ondëk Hwëch'in First Nation traditional territory.

"This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Klondike in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Klondike's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Klondike disclaims any obligation to update or revise any forward-looking information or statements except as may be required."