Vancouver, British Columbia (FSCwire) - Further to the news release dated August 1, 2017 Klondike Gold Corp. (TSX.V:KG; FRA: LBDP) ("Klondike Gold" or the "Company") is pleased to report that the Company has fully subscribed its private placement financing (the "Financing) for total gross proceeds of $5 million. A portion of the private placement will be sold on a "flow through" basis for Canadian income tax purposes at $0.34 per unit, with the units consisting of a share and a half-warrant, with each whole warrant exercisable at $0.45 per share for two years. The non flow-through portion will consist of units at $0.29 per unit, with the units consisting of a share and a half-warrant, with each whole warrant exercisable at $0.40 per share for two years.Finders fees in cash and/or warrants may be payable in accordance with TSXV policies.

The net proceeds will be used for exploration and drilling at the Company's Yukon property, including the Lone Star Target, and for general working capital.

The securities issued in connection with this transaction are subject to TSX Venture Exchange approval and all securities will be subject to a four month plus one day statutory hold period after closing.

ABOUT KLONDIKE GOLD CORP.

Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia, and Dawson City, Yukon Territory.The company is focused on exploration and development of its Yukon gold projects, accessible by government maintained roads located on the outskirts of Dawson City, YT, covering a district-scale 527 square kilometers of hard rock and 20 square kilometers of placer claims including "McKinnon Creek" featured on the Discovery Channel show "Gold Rush".

ON BEHALF OF KLONDIKE GOLD CORP.

"Peter Tallman"
President and CEO
(604) 609-6110
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

"This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Klondike in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Klondike's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Klondike disclaims any obligation to update or revise any forward-looking information or statements except as may be required."

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Klondike08032017.pdf

Source: Klondike Gold Corp. (TSX Venture:KG)

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