SDN

Klondike Gold Corp. (TSX VENTURE:KG) (the 'Company') is pleased to announce
highly encouraging results from a recently drilled hole that intersected 155
meters of the prospective Sullivan horizon at the Irishman Property in
southwestern British Columbia. The project is a joint venture with Sedex Mining
Corp. (TSX VENTURE:SDN).


The drilling by operator Klondike Gold was part of an ongoing exploration effort
focused on the search for sedimentary exhalative (SEDEX) deposits similar to the
world-class Sullivan Mine near Kimberley, which closed in 2001 after producing
more than 150 million tonnes averaging 6.9% lead, 5.1% zinc and 67 g/t silver.


Along with partner Sedex Mining Corp., the 'Company' is encouraged by the
results of the recently drilled hole, which represents the thickest
Sullivan-time interval intersected to date. The work programs are under the
direction of Trygve Hoy, Ph.D. P. Eng., a former provincial government geologist
who is now a world-recognized expert on the setting and controls for Sullivan
type deposits in the Proterozoic Purcell Basin of southern BC. "This is an
exciting drill hole, the best we have ever done and probably the best that has
ever been drilled in the Purcell basin outside of the Sullivan area," stated Dr.
Hoy.


The Irishman hole, completed to a depth of 1,520 meters in late October of 2008,
tested the Sullivan horizon at the south end of the Panda basin, a
north-trending structural basin similar to the Sullivan basin hosting the
past-producing Sullivan Mine, 40 km to the north. The 155 meters of Sullivan
horizon intersected by the Irishman drill-hole exhibit many characteristics of
exhalative activity, typical of the distal fringes of SEDEX mineralization in a
basin setting. This favourable horizon comprises mainly massive sulphide
fragmentals with zones of alteration and visible sulphides - pyrrhotite,
sphalerite and galena - mineralization.


Selected assays of the mineralized intervals are given below. More complete
analyses will be posted on Klondike Gold's website, www.klondikegoldcorp.com.




----------------------------------------------------------------------------
Sample         Depth (m)   Interval (m)   Zn ppm   Pb ppm   Ag ppm   Cd ppm
----------------------------------------------------------------------------
866328         1414.4 m          0.6 m       785     4137      1.2      9.4
----------------------------------------------------------------------------
866331         1417.3 m         0.33 m      2168     6861      4.7     24.5
----------------------------------------------------------------------------
866337         1424.0 m          1.0 m      2511     3286      6.7     11.7
----------------------------------------------------------------------------
866339         1426.0 m          1.0 m      3923     4769      9.1     14.7
----------------------------------------------------------------------------
866340         1427.0 m          1.0 m      2764     5167      7.3     17.2
----------------------------------------------------------------------------
866348         1451.2 m          1.0 m     161.1     2325      0.5      7.6
----------------------------------------------------------------------------
866358         1466.0 m          1.0 m      65.1     4649      0.8     26.3
----------------------------------------------------------------------------
866364         1505.7 m          1.8 m       775     3376      0.8      7.8
----------------------------------------------------------------------------



The initial exploration programs led by Dr. Hoy were designed to identify
Proterozoic-age structural basins similar to the Sullivan basin. These programs
successfully identified six structural basins, which were each drill-tested by
one or more widely spaced holes. Initial drilling within the favorable Panda
basin intersected distal base metal sulphide mineralization at the right
Sullivan time horizon and was followed by additional holes to help define the
limits of the basin. These six previously drilled holes also showed that the
sulphide content is increasing to the south, near the intersection of the basin
axis with a northeast-trending Proterozoic-age fault.


Drilling of the Irishman Target began in 2007, but stopped short of the target
depth because of heavy winter snow conditions. Completing the drill hole was a
priority project in 2008. The newly released intercepts from this target, with
combined lead and zinc grades up to 0.9%, represent one of the highest - if not
the highest - grades of Sullivan horizon mineralization drilled in the Purcell
Supergroup outside of the Sullivan basin itself. Furthermore, the relatively
high metal values and the thick Sullivan horizon suggest that the hole is near
the center of the Panda basin on possibly the fringes of more massive
mineralization. The nearest two drill holes to Sullivan time are located about 2
to 3 km to the east and northeast respectively.


Based on these encouraging results, the partners believe that further
exploration for Sullivan-type massive sulphide mineralization in the Panda basin
is warranted. Down-hole geophysics, followed by step-out drilling to the
north-northwest is proposed toward a surface exposure of a small exhalite vent
(the Gerry vent).


The Panda basin is one of several small basins (including Sullivan) that
developed on an ocean floor nearly 1.6 billion years ago as a result of regional
extension and/or rifting. Detailed studies of the Sullivan basin over many years
have led to the recognition of the controls of sulphide accumulation in this and
other basins. Klondike Gold recognized similar features in the Panda Basin,
which allowed it to systematically target the projected source of sulphide
accumulation. The Company has also defined several other less-tested basins that
remain exciting exploration targets.


Exploration for massive sulphide mineralization at projected depths of 1,000 to
1,500 meters is both difficult and expensive. However the success of previous
exploration programs in first defining Proterozoic structural basins, then
evaluating these basins, and finally vectoring toward a sulphide source area
with limited, widely spaced deep drill-holes bodes well for future exploration
success in this prospective region.


The Qualified Person for the purpose of National Instrument 43-101 is Trygve
Hoy, who has read and agreed with the contents of this news release.


About Klondike Gold Corp

Klondike Gold is a large landholder in the Klondike District of the Yukon
Territory, an area which produced between six and twelve million ounces of gold
during its historic gold rush.  The Company also holds a 50% interest with
partner Chalice Diamond Corp in approximately 78,000 acres of diamond properties
located in the Chapleau-Wawa region of Ontario and a number of properties in
southeastern British Columbia.


Please visit the Company's website: www.klondikegoldcorp.com for more
information on the diamond properties in Ontario, our holdings in the Klondike
and our properties in southeastern BC. You will also find Smartstox interviews
with company President, Richard Hughes located on the website.


The statements made in this Press Release may contain forward-looking statements
that may involve a number of risks and uncertainties. Actual events or results
could differ materially from the Company's expectations and projections.

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