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Press release from Marketwire

Klondike Gold Corp. Closes Oversubscribed Private Placement

Tuesday, March 05, 2013

Klondike Gold Corp. Closes Oversubscribed Private Placement18:27 EST Tuesday, March 05, 2013VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 5, 2013) -Klondike Gold Corp. (the "Company") (TSX VENTURE:KG) is pleased to announce it has completed a private placement announced on December 14, 2012. This private placement was oversubscribed and consisted of 24,545,000 shares at $0.08 per share and 3,335,000 flow-through shares at a price of $0.10 per share. The total proceeds from the financing amounted to $2,297,100. Any shares issued will be subject to a hold period expiring on June 22, 2013, June 27, 2013, or July 5, 2013. Proceeds from the private placement will be used on the Company's, Lone Star, Portuguese, and southeastern BC properties and for general working capital. The following finder's fees were paid: Haywood Securities Inc. $10,240; Canaccord Genuity Corp. $1,200; and Nazinin Jamshidi $24,000. The Company is also please to announce that a version of its 2012 Lone Star Property Assessment Report will be made available on its web site. This Report complements the December 2011 43-101 Technical Report and represents the most current technical and scientific data and interpretation of the Lone Star Property.About Klondike Gold Corp.Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia and Dawson City, Yukon. The Company is focused on the development of its Yukon properties. In addition the Company holds a large portfolio of gold and base metal properties in southeastern British Columbia.Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. FOR FURTHER INFORMATION PLEASE CONTACT: Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Contact Information: Klondike Gold Corp.Erich RauguthPresident & CEO(604) 685-2222(604) 685-3764 (FAX)info@klondikegoldcorp.comwww.klondikegoldcorp.com