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Klondex Exploration Program Extends Joyce Vein and Vonnie Vein at Fire Creek

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/21/14 --


--  40.0 g/t (1.17 opt) Au over 1.49 m (4.9 ft) - FCU-0004 
--  12.8 g/t (0.37 opt) Au over 6.16 m (20.2 ft) - FCU-0008 
--  30.4 g/t (0.90 opt) Au over 2.47 m (8.1 ft) - FCU-0029 
--  158.7 g/t (4.63 opt) Au over 1.13 m (3.7 ft) --FCU-0049 
--  350.0 g/t (10.21 opt) Au over 0.70 m (2.3 ft) -- FCU-0050 

Klondex Mines Ltd. (TSX:KDX)(OTCQX:KLNDF) today provides an update on recent underground infill and exploration drilling from its Fire Creek Project near Elko, Nevada. A total of 21 holes have been drilled to the east of the main decline in 2014 from the Joyce drifts (5400 and 5420 South), Spiral 2, and Diamond Drill Station (DDS) 6 (See FIGURE 1).

A total of eight core holes were drilled east from multiple drill stations located in the Joyce 5400 South drift to test the southern extension of the Vonnie Vein. Drilling intersected the Vonnie Vein in seven of the eight drill holes. These holes suggest mineralization continues along the Vonnie Vein another 45.7 m (150 ft) to the south, and at depth 15.2 m (50 ft). Additional 2014 drilling is scheduled to the south of these intercepts to continue defining the southern extension of the Vonnie Vein.

Drilling east from DDS-6 continues to suggest continuity of mineralization along the Joyce Vein and the Vonnie Vein. The drilling intercepted significant mineralized material in seven of the eight drill holes. These drill holes infilled an area 45.7 m (150 ft) along strike and 53.3 m (175 ft) of vertical extent on the Joyce Vein. Additionally, the Joyce Vein widths demonstrate the potential to introduce long hole stoping, which could result in lower costs and more efficiency.

Brent Kristof, Klondex Chief Operating Officer, stated, "These drill results continue to unlock value at Fire Creek. The 2014 drilling program is intended to enhance our understanding of the epithermal mineralization while raising confidence in the resource categories. Fire Creek continues to add value to the Company with its high grades. Excavating an additional level provides a top cut access that may be used to set up long hole stoping as well as providing additional drilling platforms for exploration drilling."


----------------------------------------------------------------------------
Hole ID      Drill Stn    Azi    Dip       TD           From      To     Lth
                                    ----------------------------------------
                                         (m)    (ft)           (m)          
----------------------------------------------------------------------------
FC14113U         DDS-6    106    -57   115.8     380  No Significant Results
----------------------------------------------------------------------------
FC14114U         DDS 6    106    -38   121.0   397.0    52.3    53.6    1.34
----------------------------------------------------------------------------
and                                                     57.9    61.3    3.35
----------------------------------------------------------------------------
Incl.                                                   57.9    58.6    0.67
----------------------------------------------------------------------------
Incl.                                                   58.6    59.4    0.85
----------------------------------------------------------------------------
Incl.                                                   59.4    59.7    0.27
----------------------------------------------------------------------------
Incl.                                                   59.7    61.3    1.55
----------------------------------------------------------------------------
And                                                     80.5    80.9    0.40
----------------------------------------------------------------------------
And                                                     95.1    95.9    0.82
----------------------------------------------------------------------------
FCU-0004         DDS 6     69    -39   113.4   372.0    29.6    31.1    1.52
----------------------------------------------------------------------------
And                                                     42.2    43.7    1.49
----------------------------------------------------------------------------
Incl.                                                   42.2    43.1    0.91
----------------------------------------------------------------------------
Incl.                                                   43.1    43.4    0.30
----------------------------------------------------------------------------
Incl.                                                   43.4    43.7    0.27
----------------------------------------------------------------------------
And                                                     44.8    45.5    0.67
----------------------------------------------------------------------------
And                                                     79.9    81.4    1.52
----------------------------------------------------------------------------
FCU-0005         DDS 6     85    -48   122.5     402    54.3    54.4    0.12
----------------------------------------------------------------------------
And                                                     57.6    58.5    0.91
----------------------------------------------------------------------------
FCU-0006         DDS 6     89    -38   145.7     478    45.4    46.6    1.22
----------------------------------------------------------------------------
Incl.                                                   45.4    46.0    0.61
----------------------------------------------------------------------------
Incl.                                                   46.0    46.6    0.61
----------------------------------------------------------------------------
And                                                     47.2    48.8    1.58
----------------------------------------------------------------------------
Incl.                                                   47.2    48.0    0.79
----------------------------------------------------------------------------
Incl.                                                   48.0    48.6    0.52
----------------------------------------------------------------------------
Incl.                                                   48.6    48.8    0.27
----------------------------------------------------------------------------
FCU-0008         DDS 6   64.5     10    93.9     308     4.0     4.2    0.24
----------------------------------------------------------------------------
And                                                     10.8    11.0    0.15
----------------------------------------------------------------------------
And                                                     32.4    38.6    6.16
----------------------------------------------------------------------------
Incl.                                                   32.4    32.6    0.15
----------------------------------------------------------------------------
Incl.                                                   36.4    36.6    0.27
----------------------------------------------------------------------------
Incl.                                                   36.6    37.8    1.19
----------------------------------------------------------------------------
Incl.                                                   37.8    38.0    0.21
----------------------------------------------------------------------------
Incl.                                                   38.9    38.6    0.52
----------------------------------------------------------------------------
And                                                     78.9    79.6    0.61
----------------------------------------------------------------------------
FCU-0009         DDS 6   64.5     20    70.1     230     4.3     4.6    0.34
----------------------------------------------------------------------------
And                                                     11.3    11.6    0.30
----------------------------------------------------------------------------
And                                                     14.0    15.1    1.10
----------------------------------------------------------------------------
Incl.                                                   14.0    14.6    0.61
----------------------------------------------------------------------------
Incl.                                                   14.6    15.1    0.49
----------------------------------------------------------------------------
And                                                     17.1    19.5    2.44
----------------------------------------------------------------------------
Incl.                                                   17.1    17.7    0.61
----------------------------------------------------------------------------
Incl.                                                   17.7    18.4    0.76
----------------------------------------------------------------------------
Incl.                                                   18.4    19.0    0.52
----------------------------------------------------------------------------
Incl.                                                   19.0    19.5    0.55
----------------------------------------------------------------------------
And                                                     24.9    25.5    0.58
----------------------------------------------------------------------------
And                                                     36.3    37.5    1.22
----------------------------------------------------------------------------
Incl.                                                   36.3    36.7    0.40
----------------------------------------------------------------------------
Incl.                                                   36.7    37.5    0.82
----------------------------------------------------------------------------
FCU-0029         DDS 6     82     10    95.9   314.5    17.3    17.7    0.37
----------------------------------------------------------------------------
And                                                     28.3    34.4     6.1
----------------------------------------------------------------------------
Incl.                                                   28.3    29.9    1.52
----------------------------------------------------------------------------
Incl.                                                   29.9    31.4    1.52
----------------------------------------------------------------------------
Incl.                                                   31.4    32.9    1.52
----------------------------------------------------------------------------
Incl.                                                   32.9    34.4    1.52
----------------------------------------------------------------------------
And                                                     36.0    38.4    2.47
----------------------------------------------------------------------------
Incl.                                                   36.0    37.1    1.16
----------------------------------------------------------------------------
Incl.                                                   37.1    37.4    0.24
----------------------------------------------------------------------------
Incl.                                                   37.6    37.7    0.15
----------------------------------------------------------------------------
Incl.                                                   37.7    38.4    0.73
----------------------------------------------------------------------------
And                                                     72.2    72.5    0.37
----------------------------------------------------------------------------
FCU-0047   Joyce South                                                      
                 Drift     77    -30    57.9     190    24.5    24.8    0.30
----------------------------------------------------------------------------
And                                                     31.6    31.8    0.21
----------------------------------------------------------------------------
FCU-0048   Joyce South                                                      
                 Drift     75    -16    57.9     190    22.2    22.3    0.12
----------------------------------------------------------------------------
And                                                     25.9    26.6    0.67
----------------------------------------------------------------------------
Incl.                                                   25.9    26.2    0.30
----------------------------------------------------------------------------
Incl.                                                   26.2    26.6    0.37
----------------------------------------------------------------------------
FCU-0049   Joyce South                                                      
                 Drift     75    -40    73.2     240    26.3    27.4    1.13
----------------------------------------------------------------------------
Incl.                                                   26.3    26.7    0.40
----------------------------------------------------------------------------
Incl.                                                   26.7    27.4    0.73
----------------------------------------------------------------------------
FCU-0050   Joyce South                                                      
                 Drift    102    -36    76.2     250    24.6    25.3    0.70
----------------------------------------------------------------------------
And                                                     27.8    29.1    1.31
----------------------------------------------------------------------------
Incl.                                                   27.8    28.3    0.55
----------------------------------------------------------------------------
Incl.                                                   28.3    28.5    0.18
----------------------------------------------------------------------------
Incl.                                                   28.5    29.1    0.58
----------------------------------------------------------------------------
FCU-0051   Joyce South                                                      
                 Drift     93      3    57.9     190    40.1    41.1    1.10
----------------------------------------------------------------------------
Incl.                                                   40.1    40.6    0.52
----------------------------------------------------------------------------
Incl.                                                   40.6    41.1    0.58
----------------------------------------------------------------------------
FCU-0053   Joyce South                                                      
                 Drift                                No Significant Results
----------------------------------------------------------------------------
FCU-0054   Joyce South                                                      
                 Drift    114     -7    76.2     250     6.3     6.6    0.27
----------------------------------------------------------------------------
And                                                     19.8    20.6    0.82
----------------------------------------------------------------------------
Incl.                                                   19.8    20.4    0.58
----------------------------------------------------------------------------
Incl.                                                   20.4    20.6    0.24
----------------------------------------------------------------------------
FCU-0055   Joyce South                                                      
                 Drift     95      2    77.7     255    18.0    18.3     0.3
----------------------------------------------------------------------------
FCU-0087    Joyce 5420                                                      
                 Drift     66     -2    45.7     150    13.2    13.7    0.52
----------------------------------------------------------------------------
And                                                     20.8    21.1    0.27
----------------------------------------------------------------------------
And                                                     30.5    32.0    1.52
----------------------------------------------------------------------------
And                                                     41.0    42.0    1.01
----------------------------------------------------------------------------
FCU-0088    Joyce 5420                                                      
                 Drift                                No Significant Results
----------------------------------------------------------------------------
FCU-0094      Spiral 2     62    -18    45.7     150    39.3    39.8    0.52
----------------------------------------------------------------------------
FCU-0095      Spiral 2     65     33    45.7     150    19.7    20.3    0.64
----------------------------------------------------------------------------
And                                                     30.1    31.2    1.04
----------------------------------------------------------------------------
FCU-0096      Spiral 2                                No Significant Results
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Hole ID        From        To      Lth      Au Grade           Ag Grade     
          ------------------------------------------------------------------
                      (ft)                 (g/t)   (oz/st)    (g/t)  (oz/st)
----------------------------------------------------------------------------
FC14113U                      No Significant Results                 
----------------------------------------------------------------------------
FC14114U      171.6     176.0      4.4      4.27     0.125      1.7    0.050
----------------------------------------------------------------------------
and           190.0     201.0     11.0     18.43     0.538     13.1    0.382
----------------------------------------------------------------------------
Incl.         190.0     192.2      2.2     66.80     1.949     18.6    0.543
----------------------------------------------------------------------------
Incl.         192.2       195      2.8      5.79     0.169     11.2    0.327
----------------------------------------------------------------------------
Incl.         195.0     195.9      0.9     12.95     0.378     18.0    0.525
----------------------------------------------------------------------------
Incl.         195.9     201.0      5.1      5.47     0.160     10.9    0.318
----------------------------------------------------------------------------
And           264.0     265.3      1.3      8.59     0.251      7.3    0.213
----------------------------------------------------------------------------
And           312.0     314.7      2.7      4.42     0.129      3.7    0.108
----------------------------------------------------------------------------
FCU-0004       97.0     102.0      5.0     44.50     1.298      6.1    0.178
----------------------------------------------------------------------------
And           138.5     143.4      4.9     40.01     1.167     38.4    1.119
----------------------------------------------------------------------------
Incl.         138.5     141.5      3.0     59.30     1.730     54.0    1.575
----------------------------------------------------------------------------
Incl.         141.5     142.5      1.0      7.19     0.210      8.0    0.233
----------------------------------------------------------------------------
Incl.         142.5     143.4      0.9     12.20     0.356     20.0    0.583
----------------------------------------------------------------------------
And           147.0     149.2      2.2      4.01     0.117      9.0    0.263
----------------------------------------------------------------------------
And           262.0       267      5.0      5.07     0.148      2.0    0.058
----------------------------------------------------------------------------
FCU-0005      178.0     178.4      0.4      42.2     1.231     26.8    0.782
----------------------------------------------------------------------------
And           189.0     192.0      3.0      8.99     0.262      5.4    0.158
----------------------------------------------------------------------------
FCU-0006      149.0     153.0      4.0      7.38     0.215      6.9    0.200
----------------------------------------------------------------------------
Incl.         149.0     151.0      2.0     11.50     0.335      6.3    0.184
----------------------------------------------------------------------------
Incl.         151.0     153.0      2.0      3.25     0.095      7.4    0.216
----------------------------------------------------------------------------
And           155.0     160.2      5.2     11.56     0.337     15.5    0.453
----------------------------------------------------------------------------
Incl.         155.0     157.6      2.6      5.33     0.155     10.2    0.298
----------------------------------------------------------------------------
Incl.         157.6     159.3      1.7      8.56     0.250     11.3    0.330
----------------------------------------------------------------------------
Incl.         159.3     160.2      0.9     35.20     1.027     38.9    1.135
----------------------------------------------------------------------------
FCU-0008       13.0      13.8      0.8     96.60     2.818     49.0    1.429
----------------------------------------------------------------------------
And            35.5      36.0      0.5     14.45     0.422     13.0    0.379
----------------------------------------------------------------------------
And           106.3     126.5     20.2     12.80     0.373     12.1    0.353
----------------------------------------------------------------------------
Incl.         106.3     106.8      0.5     14.00     0.408      4.1    0.119
----------------------------------------------------------------------------
Incl.         119.3     120.2      0.9     27.60     0.805     48.0    1.400
----------------------------------------------------------------------------
Incl.         120.2     124.1      3.9      1.91     0.056      7.0    0.204
----------------------------------------------------------------------------
Incl.         124.1     124.8      0.7    247.00     7.205    186.0    5.426
----------------------------------------------------------------------------
Incl.         124.8     126.5      1.7      3.85     0.112      8.0    0.233
----------------------------------------------------------------------------
And           259.0     261.0      2.0      4.88     0.142     10.3    0.299
----------------------------------------------------------------------------
FCU-0009       14.1      15.2      1.1      30.6     0.893     19.0    0.554
----------------------------------------------------------------------------
And            37.0      38.0      1.0      4.65     0.136      5.5    0.160
----------------------------------------------------------------------------
And            46.0      49.6      3.6      5.96     0.174     10.0    0.292
----------------------------------------------------------------------------
Incl.          46.0      48.0      2.0      1.13     0.033      6.0    0.175
----------------------------------------------------------------------------
Incl.          48.0      49.6      1.6      12.0     0.350     15.0    0.438
----------------------------------------------------------------------------
And            56.0      64.0      8.0      4.09     0.119      8.8    0.256
----------------------------------------------------------------------------
Incl.          56.0      58.0      2.0      2.37     0.069      6.0    0.175
----------------------------------------------------------------------------
Incl.          58.0      60.5      2.5      3.36     0.098      8.0    0.233
----------------------------------------------------------------------------
Incl.          60.5      62.2      1.7      4.26     0.124     13.0    0.379
----------------------------------------------------------------------------
Incl.          62.2      64.0      1.8      6.84     0.200      9.0    0.263
----------------------------------------------------------------------------
And            81.6      83.5      1.9      4.37     0.127      6.0    0.175
----------------------------------------------------------------------------
And           119.0     123.0      4.0      8.83     0.258     16.1    0.470
----------------------------------------------------------------------------
Incl.         119.0     120.3      1.3      25.0     0.729     35.0    1.021
----------------------------------------------------------------------------
Incl.         120.3     123.0      2.7      1.05     0.031      7.0    0.204
----------------------------------------------------------------------------
FCU-0029       56.8      58.0      1.2    948.00    27.653    409.0   11.931
----------------------------------------------------------------------------
And            93.0     113.0     20.0      5.81     0.169      1.8    0.054
----------------------------------------------------------------------------
Incl.          93.0      98.0      5.0      3.43     0.100      3.9    0.114
----------------------------------------------------------------------------
Incl.          98.0     103.0      5.0      6.13     0.179      1.3    0.038
----------------------------------------------------------------------------
Incl.         103.0     108.0      5.0      5.69     0.166      0.3    0.007
----------------------------------------------------------------------------
Incl.         108.0     113.0      5.0      7.99     0.233      1.9    0.055
----------------------------------------------------------------------------
And           118.0     126.1      8.1     30.41     0.887     25.2    0.735
----------------------------------------------------------------------------
Incl.         118.0     121.8      3.8      4.47      0.13      2.5    0.073
----------------------------------------------------------------------------
Incl.         121.8     122.6      0.8      36.6     1.068     51.0    1.488
----------------------------------------------------------------------------
Incl.         123.2     123.7      0.5      26.6     0.776     34.0    0.992
----------------------------------------------------------------------------
Incl.         123.7     126.1      2.4     77.80     2.269     57.0    1.663
----------------------------------------------------------------------------
And           236.8     238.0      1.2     21.70     0.633     14.4    0.420
----------------------------------------------------------------------------
FCU-0047       80.5      81.5      1.0    439.00    12.806    347.0   10.122
----------------------------------------------------------------------------
And           103.7     104.4      0.7      5.41     0.158      3.7    0.108
----------------------------------------------------------------------------
FCU-0048       72.8      73.2      0.4    256.00     7.468    189.0    5.513
----------------------------------------------------------------------------
And            85.0      87.2      2.2     15.56     0.454     13.9    0.406
----------------------------------------------------------------------------
Incl.          85.0      86.0      1.0      7.84     0.229      7.0    0.204
----------------------------------------------------------------------------
Incl.          86.0      87.2      1.2      22.0     0.642     19.7    0.575
----------------------------------------------------------------------------
FCU-0049       86.3      90.0      3.7    158.69     4.629    122.4    3.573
----------------------------------------------------------------------------
Incl.          86.3      87.6      1.3    448.00    13.068    346.0   10.093
----------------------------------------------------------------------------
Incl.          87.6      90.0      2.4      1.99     0.058      1.4    0.041
----------------------------------------------------------------------------
FCU-0050       80.7      83.0      2.3    350.00    10.210    218.0    6.359
----------------------------------------------------------------------------
And            91.2      95.5      4.3     12.47     0.364     12.0    0.350
----------------------------------------------------------------------------
Incl.          91.2      93.0      1.8      16.6     0.484     18.0    0.525
----------------------------------------------------------------------------
Incl.          93.0      93.6      0.6     12.25     0.357     13.0    0.379
----------------------------------------------------------------------------
Incl.          93.6      95.5      1.9      8.62     0.251      6.0    0.175
----------------------------------------------------------------------------
FCU-0051      131.4     135.0      3.6      5.75     0.168      5.6    0.163
----------------------------------------------------------------------------
Incl.         131.4     133.1      1.7      5.51     0.161      7.9    0.230
----------------------------------------------------------------------------
Incl.         133.1     135.0      1.9      5.96     0.174      3.5    0.102
----------------------------------------------------------------------------
FCU-0053                      No Significant Results           
----------------------------------------------------------------------------
FCU-0054       20.8      21.7      0.9      3.55     0.104      2.5    0.073
----------------------------------------------------------------------------
And            65.0      67.7      2.7      5.12     0.149      7.7    0.224
----------------------------------------------------------------------------
Incl.          65.0      66.9      1.9      1.78     0.052      2.5    0.073
----------------------------------------------------------------------------
Incl.          66.9      67.7      0.8     13.05     0.381     20.0    0.583
----------------------------------------------------------------------------
FCU-0055       59.0      60.0      1.0      4.66     0.136     30.0    0.875
----------------------------------------------------------------------------
FCU-0087       43.3      45.0      1.7     10.25     0.299      9.5    0.277
----------------------------------------------------------------------------
And            68.2      69.1      0.9      7.12     0.208      5.4    0.158
----------------------------------------------------------------------------
And           100.0     105.0      5.0      6.83     0.199      6.2    0.181
----------------------------------------------------------------------------
And           134.5     137.8      3.3      4.23     0.123      7.8    0.228
----------------------------------------------------------------------------
FCU-0088                      No Significant Results               
----------------------------------------------------------------------------
FCU-0094      128.9     130.6      1.7      4.16     0.121      3.2    0.093
----------------------------------------------------------------------------
FCU-0095       64.5      66.6      2.1     10.30     0.300      2.5    0.073
----------------------------------------------------------------------------
And            98.8     102.2      3.4     23.50     0.685     28.0    0.817
----------------------------------------------------------------------------
FCU-0096                      No Significant Results                     
----------------------------------------------------------------------------

Note: True widths are not yet known.

The technical information contained in this press release has been reviewed and approved by Mark Odell of Practical Mining LLC, an Independent Qualified Person (Nevada PE 13708 and SME 2402150) for the purposes of National Instrument 43-101.

Assays were performed by ALS Chemex of Elko, Nevada (an independent laboratory), as directed under the supervision of Klondex staff.

About Klondex Mines Ltd. (www.klondexmines.com)

Klondex Mines is focused on the exploration, development and production of its high quality gold and silver projects. The Company is operating an ongoing bulk sampling program at its Fire Creek gold project located in north central Nevada. Fire Creek is in a mining-friendly jurisdiction, with onsite power and mining infrastructure, and near major producers. Midas, Klondex's newly acquired operating mine and milling facility are located approx. 100 miles north of Fire Creek.

Cautionary Note Regarding Technical Information and Forward-looking Information

A production decision at the Midas mine was made by prior owners of the mine, prior to the completion of the acquisition of the Midas mine by Klondex. To the knowledge of Klondex, this production decision was not based on a feasibility study of mineral reserves demonstrating economic and technical viability prepared in accordance with NI 43-101 but was based on internal studies conducted by the prior owner of the mine. Klondex has no reason to believe that the data on which such studies were based or that the results of such studies are unreliable. However, readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.

This news release contains certain information that may constitute forward-looking information under applicable Canadian securities legislation, including but not limited to information about the timing and success of exploration drilling activities. This forward-looking information entails various risks and uncertainties that are based on current expectations, and actual results may differ materially from those contained in such information. These uncertainties and risks include, but are not limited to, the strength of the global economy; the price of gold; operational, funding and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations; and the ability of Klondex to fund its substantial capital requirements and operations. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedar.com. Readers are urged to read these materials. Klondex assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by law.

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