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Published on 5/20/2011 in the Prospect News PIPE Daily.

Klondike Silver arranges C$1 million private placement of equity units

Offering at C$0.25 per unit funds exploration, general working capital

By Devika Patel

Knoxville, Tenn., May 20 - Klondike Silver Corp. said it has arranged a C$1 million private placement of units.

The company will sell 4 million units of one common share and one warrant at C$0.25 per unit. Each four-year warrant will be exercisable at C$0.30, a 15.39% premium to the May 19 closing share price of C$0.26.

Proceeds will be used for exploration and general working capital.

Klondike is a silver exploration company based in Vancouver, B.C.

Issuer:Klondike Silver Corp.
Issue:Units of one common share and one warrant
Amount:C$1 million
Units:4 million
Price:C$0.25
Warrants:One warrant per unit
Warrant expiration:Four years
Warrant strike price:C$0.30
Pricing date:May 20
Stock symbol:TSX Venture: KS
Stock price:C$0.26 at close May 19
Market capitalization:C$2.54 million

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