Six drill holes intersect stacked quartz veins on both flanks of fault.

Klondike Gold Corp. Nov. 28 announced the first drill results completed along the Eldorado Fault within its Klondike District Property in the Yukon, with drilling on either side of the structure revealing new high-grade gold intersections, further validating its potential as a major control for gold mineralization in the district.

Spanning 727 square kilometers (280 square miles), the Klondike District Property lies in the heart of the historic Klondike goldfields near Dawson City, Yukon. Since its discovery in 1896, this region has produced over 20 million ounces of placer gold, making it one of the most prolific gold districts in Canadian history.

Within Klondike Gold's expansive land package are multiple advanced targets, including the Stander Zone and Lone Star Zone, which together host 21.59 million metric tons of indicated resources averaging 0.68 grams per metric ton (468,901 ounces) gold; and 6.46 million metric tons of inferred resources averaging 0.54 g/t (111,959 ounces) gold.

Recent exploration has focused on expanding these zones and further understanding the structural controls influencing gold deposition.

Beginning in late April, Klondike Gold initiated its 2024 exploration campaign focused primarily on extending known mineralization within the Stander Zone and testing new targets along the Eldorado Fault.

The diamond drilling program, which was expanded to over 5,000 meters due to encouraging early results, aimed to evaluate both the east and west sides of the Eldorado Fault, which had shown potential for new zones of high-grade mineralization based on previous mapping and surface sampling.

These early indications of potential prompted Klondike Gold to further focus its efforts along both flanks of the Eldorado Fault, resulting in the first significant drill program targeting this newly defined structural feature. The six initial holes drilled as part of this campaign have now returned promising results; highlights include:

• One meter averaging 8.25 g/t gold in hole EC24-546 from drilling on the west side of the Eldorado Fault.

• 0.5 meters averaging 6.86 g/t gold in EC24-547, targeting mineralization near the DJ showing on the east side of the fault.

• One meter averaging 6.41 g/t gold in hole EC24-544.

"Local placer miners have long known that the most valuable claims in the Klondike goldfields with the coarsest gold nuggets are along a certain stretch of Eldorado Creek," said Klondike Gold President and CEO Peter Tallman. "Our final phase of drilling this year was intended to explore the economic potential of these areas adjacent to both sides of our newly mapped Eldorado Fault as a source control of bedrock gold mineral resources."

Drilling along the Eldorado Fault not only confirmed the presence of gold on both sides of the fault but also provided important insights into the geology of the mineralized zones.

Klondike Gold Corp.

Eldorado Fault drill area (purple box) and Stander Zone resource estimate, with nearby significant gold showings along the Eldorado Fault.

Holes drilled on the west side revealed that quartz veins are present at multiple levels, indicating stacked repetitions of mineralization that extend to greater depths. These findings highlight the potential for additional high-grade zones, both laterally and at depth, further supporting the economic viability of these previously untested areas.

"This test was a success and in addition we have determined the quartz vein zones are stacked, with repetitions to depth, and the results we report today show the prospectivity of the Eldorado Fault as a primary locus of gold," said Tallman. "Importantly our work continues to demonstrate the considerable unrealized economic potential of the Klondike District Property as we unlock and derisk the value for our shareholders."

While drilling successfully intersected gold-bearing quartz veins in several holes, hole EC24-548 was lost in the fault, and assays from the remaining drill holes are pending, with results expected to provide further clarity on the mineralization along the Eldorado Fault.

In addition to drilling along the Eldorado Fault, Klondike Gold also targeted the Gay Gulch showing on the eastern side of the structure. Hole EC24-549 was designed to test the mineralization envelope at Gay Gulch and successfully intersected gold-bearing quartz veining up to 150 meters away from the Eldorado Fault, confirming the continuity of gold mineralization further from the fault zone.