1st day trading >> Havilah Mining

And a 30% haircut ? WTFisthat? Klondex shareholders taken out to the toolshed for you know what ! ! !

Took about a 10% "haircut" due to the BS "proration" crap .

So , if you chose "CASH only" ... this is what you get :

"Klondex shareholders who elected to receive cash consideration were subject to proration and will receive US$0.8867 in cash and 0.4020 of a Hecla share in exchange for their Klondex shares."

Doesn't SEEM like "CASH ONLY" to me ...

* * $KLDX Video Chart 03-19-18 * *

Link to Video - click here to watch the technical chart video

What’s the deal here do we get to keep our shares or forced to take the money

Well that and the fact that insiders bought so many shares the last few weeks spells bad for the deal.

No court will approve this buyout.. buyout should be much higher than $2.47 a share.. news out to force shorts to cover IMO. Still has further breakout potential

I know right... insider buy 3M shares 1week before buy out..

Makes one wonder about the big buys last week ....

Just good timing , I suppose ... LOL

Damn right... what are the odds.. 10M still short that need to be covered

Well , what do you know ?? We lucked out ...

https://ih.advfn.com/p.php?pid=nmona&article=76975274&symbol=KLDX

Nice buy for 240k EOD at 1.44.. confirmation Monday would be fantastic

This stock is owned by shorts. Drop was expected today. I got out at open for a profit of .10 cents per share and entered again from 1.30-1.32.. I believe we bounce from here and this area holds for support. Insider Waterton has bought 3.5 million open market shares the last 2 weeks at $1.37. Current holding is over 10%..

There is also 13M plus short shares however they were shorted much high between 2-3 per share. These need to be covered before Q1 filing IMO. By that time the share price will have rebounded and be taking away from the profits.. another note 100M shares held by institutions of the 179M OS. So 13M are short on 80M.. I for one are long on some of those as well as others by the daily trading volume..

The last week we have had daily short of 60%,70%, and 80%.. short deadline for reporting is tomorrow.. if today was another highly shorted day... Tomorrow we could see a nice spike.

Today wasn’t just sell offs. Most of the day the ask was stacked just like they have done every high short day.

What the heck happened here >> anyone ?

"Financial Results - Net loss for the quarter was $7.7 million or $0.04 per share (basic and diluted). Fourth quarter net loss was negatively impacted by $8.9 million for income tax expense related to changes in the United States federal tax laws. Excluding the impact of the tax law changes, the Company’s adjusted net income(1) for the quarter was $1.2 million or $0.01 per share (basic and diluted)."

Market doesn't like the financials , it appears ...

Short Squeeze Coming!!

179,000,000 Million Outstanding Float
100 Million held by institution and insiders!!
80 Million Shares Free to trade..Most locked up with longs with a cost of $2.50+
13.6 Million shares to cover. 17% short if all 80 Million were changing hands.. Not even close.. Look at the trading volume...

Will take at least 13 Days to cover.

Insiders bought 3,307,857 Shares within the last 7 days @ $1.37...

10K After Market Close 3/15/18
1Q 2018 Guidance 4/15/18

Locked and loaded....

http://stockcharts.com/h-sc/ui

Insider WATERTON MINING PARALLEL FUND OFFSHORE MASTER, LP reports buying 3,143,123 shares of $KLDX for a total cost of $4,306,078.51 on 3/2/2018

https://www.sec.gov/Archives/edgar/data/1311605/000114420418013159/xslF345X03/tv487917_form4.xml

They can’t hold this down forever. What your seeing on the bid is fake. The second any buying pressure hits it vanishes and the price moves up. It’s not moving over night but very soon

Despite a global economic upswing, which has been a powerful tailwind for stocks, gold remains firm and is trading well above the psychologically important US$1,300-per-ounce mark. There are signs that gold will remain firm over the course of 2018, because of a range of economic and geopolitical risks that could trigger the next market correction. One of the best means of earning outsized returns from higher gold is by investing in small gold-mining stocks. A gold miner that stands out as being attractively valued after being roughly handled by the market — down by almost 75% over the last year — is Klondex Mines Ltd. (TSX:KDX)(NYSE:KLDX).

Now what?

Klondex owns and operates a portfolio of gold mines in Canada and the U.S., including the Fire Creek mine in Nevada, which is ranked as the world’s highest-quality operational underground gold mine. It has proven gold reserves of 118,000 ounces with an average grade of 37.34 grams of gold per tonne of ore. Klondex’s total proven and probable gold reserves across its four mines come to 667,000 ounces.

Klondex’s focus on expanding production and reducing costs is delivering considerable dividends for the company. It reported record 2017 gold production of 189,456 ounces, which was a 17% increase over 2016.

Nevertheless, this was below the miner’s revised guidance and can be attributed to the company’s decision to defer the processing of ore from its Hollister mine to allow it to optimize operations at the Midas Mill. That saw it finish 2017 with a stockpile of 15,000 gold ounces, which can be sold over the course of 2018, further boosting earnings.

An aspect of some concern for investors when it comes to Klondex’s operations is the miner’s extremely high costs for each gold ounce sold. For the third quarter 2017, it reported all-in costs of US$1,704 per ounce, which was well above the average spot price for the quarter. It is also significantly higher than many of its peers, including Barrick, which reported full year 2017 all-in costs of US$860 per ounce.

While the headline number is worrying, what investors need to understand is that all-in costs not only reflect production costs, but include expenses related to mine development — growth projects to expand production and sales.

In Klondex’s case, development expenses can be high, because its operations are comprised of underground mines that are focused on extracting gold from narrow mineralized veins. The cost of production is better reflected by a miner’s cash costs. For the third quarter, Klondex’s cash costs came to US$809 per gold ounce produced, which is well below the gold price and comparable to its peers.

Klondex’s operational performance will continue to improve during 2018. The miner has projected that gold production will grow by up to 7%, while cash costs will fall to US$675-725 per ounce, and, importantly, all-in costs are projected to drop to somewhere between US$940 and US$990 per ounce. In an operating environment where gold remains firm, this will give Klondex’s earnings as well as profitability a tremendous boost.

So what?

The miner’s ability to reduce costs and expand gold production makes it an appealing investment. Each of those factors coupled with its stock having plummeted sharply in recent months, despite higher gold, means that Klondex is poised to rally significantly and could easily double in value.

This appears to be good news ... ?

Yet , the market is not impressed ...

BWTFDIK ?

The technical report titled "Technical Report for the Fire Creek Project, Lander County, Nevada" (the "Technical Report") was originally filed on SEDAR on February 5, 2018. The Technical Report is being amended in order to correct certain formula errors and inputs used in Section 21 (page 248) and Section 22 (page 251). The changes to Section 21 were made to remove 2018 drilling capital from Table 21-1 and to remove capital costs shown in Table 21-3, which are not modeled as such in Section 22, and add those costs to Table 21-4. The latter change presents a more representative view of operating costs used in the financial model. The changes to Section 22 were made to Tables 22-1, 22-2, 22-3 and Table 1-5 to correct an error in the operating costs in the cash flow model, incorporate the reduction of the unnecessary 2018 drilling capital, correct the estimated royalty payments and make corresponding changes to deprecation, taxes, net income, cash flows, and key operating and financial statistics. These changes are also reflected in Figure 22-1 and Figure 22-2. The above changes resulted in total net income and cumulative cash flows each increasing by $19.6M, as reflected in Tables 22-1 and 22-2. Other than the changes made to the tables and figures noted above, the Technical Report remains the same in all respects.

Clarus Securities analyst J. Spratt now expects that the company will earn $0.07 per share for the year, down from their previous estimate of $0.10. Clarus Securities has a “Accumulate” rating on the stock. Clarus Securities also issued estimates for Klondex Mines’ FY2019 earnings at $0.42 EPS.

Klondex Mines Ltd (NYSEAMERICAN:KLDX)
As of February 15th, there was short interest totalling 13,408,943 shares.
Since Feb 15th there have been roughly 2 million more short shares sold...

Currently, there are 100 million shares held by insiders and institutions..

There are 79 million active traded shares

Based on an average daily trading volume, of 1,000,000 shares, how many days do you think it will take to cover the short positions!!!!

I got here recently. Had a large order sitting at 1.32 I never expected to fill. PSAR flopped and closed over 10Day EMA with nice volume.. lets what Monday brings

I've been "lurking" , but it's hard to type with such bloody hands .

Shocked I am alone here.... up up and away

177M outstanding
95M held by institutions
18M short
1M daily volume

Buyout news or major increase in production would be fantastic right about now...

Bottom fall off.. where will she settle

I’ll take things swings every day. Easy money. Hopefully it keeps up :)

Starting to move...

They are shorting the shit out of this stock.

$KLDX NEWS - EARNINGS FEBRUARY 7 BEFORE OPEN

Klondex Continues to Extend High Grade Mineralization at Fire Creek's Zeus Target, Including 1.65 opt Au over 35.0 ft; Company Schedules Announcement of 2017 Operating Results and 2018 Guidance

https://globenewswire.com/news-release/2018/01/25/1305314/0/en/Klondex-Continues-to-Extend-High-Grade-Mineralization-at-Fire-Creek-s-Zeus-Target-Including-1-65-opt-Au-over-35-0-ft-Company-Schedules-Announcement-of-2017-Operating-Results-and-20.html

Very well stated. If they start to focus, they will start to see the returns.

Q3 was dismal. MGMT Focus: Output-Earnings Stability. It's time to slow this 110% reinvestment mindset; stop drilling/drilling/drilling. KLDX creates a perception of HAPHAZARD MGMT. CO must stabilize and maintain manageable and predictable production levels: SPENDING TOO. It smells like drill overkill. The $2.38 stock price is what KLDX DESERVES: performance is too erratic to instill investor confidence. It would also be helpful:

1. The Midas CIL circuit for Hollister ore adds how much in daily Midas mill tonnage?

2. When is KLDX increasing Midas Capacity? Can they expand slowly, like a 250 ton annual mill output growth? A leach pad alternative strategy for marginal ore?

Midas Mill needs expand to at least a 2000 ton capacity. If modular approaches could add 250 ton segments, not interrupting operations, that would be ideal. WHY isn't KLDX developing a mine/mill plan that makes everyone comfortable.

Making decisions on the fly needs to transition into a disciplined and controlled structure. $2.38 might then be $3.50-$3.95: not $2.38.

$KLDX NEWS

Klondex Mines gets shareholder approval to buy Bison Gold

http://www.proactiveinvestors.co.uk/companies/news/185516/klondex-mines-gets-shareholder-approval-to-buy-bison-gold-185516.html

From "The Motley Fool"

Have You Considered Klondex Mines Ltd.?
Most investors haven’t heard of Klondex Mines Ltd. (TSX:KDX) yet, but that relatively unknown status is about to disappear.

Klondex is an intermediate gold miner with operations in Canada as well as the U.S. Among the mines the company owns and operates, the Fire Creek mine is widely regarded as the highest-quality underground mine in the world.

Precious metals prices have steadily increased over the course of the past two years, following several years of depressed prices that saw gold collapse from the US$1,900 per ounce level in 2011, reaching the sub-US$1,100 per ounce level over a year ago. During that period, gold producers often turned to cost-cutting efforts and efficiency improvements to minimize losses until prices recovered.

With gold prices now recovering from those levels, the cost-cutting and efficiency improvements of the past few years have become a welcome boost to the bottom line, making gold miners such as Klondex intriguing investment options.

Klondex has immense growth potential

The first thing that is interesting about Klondex is the impressive production growth the company has registered over the past year.

Klondex recently provided an operational update on the most recent quarter, where the company realized production growth of 94% over the previous quarter. Klondex’s production guidance for the fiscal year is currently set in the 210,000-225,000 ounces range, which is an incredible 36% year-over-year change.

Gold is currently hovering just shy of US$1,300 per ounce and industry experts still believe the precious metal could surpass and stay above the US$1,300 per ounce level by the end of the year.

That bodes well for Klondex for a few reasons.

First, Klondex is set to begin scaling up production at both the True North and Hollister mines. The True North mine in particular was the subject of a recent report by Klondex which indicated that gold reserves were 25% higher than previously thought. Assuming that gold continues to appreciate, Klondex should see a significant boost to earnings.

Second, that increased production ramp-up at both the True North and Hollister mines comes at an added cost, which is deceptively skewing the all-in sustaining cost of the miner to be higher than it should. Once that ramp-up is complete and the mines are producing more gold, costs will drop across the board.

Klondex’s operational update for the most recent quarter is just as promising. Klondex produced over 66,00o gold equivalent ounces in the quarter and sold off 69,522 gold equivalent ounces. The company also mined 53,248 gold equivalent ounces in the quarter, which falls into the expected volume for the quarter.

Year to date, Klondex has produced 101,019 gold equivalent ounces at its three mines, and it will begin processing at an additional mine later this year.

Klondex is slated to report financials for the second quarter later this month, and, in my opinion, remains a great opportunity for investors looking to add a gold miner to their portfolios.

36-Year Old CEO Bets Over $300 Million on 1 Stock

Iain Butler, Lead Adviser of Stock Advisor Canada, recommended this little tech darling to thousands of loyal members last March... and those that followed his advice are up 127.7% (they've already made 2X their money!).

Not to mention this tiny Eastern Ontario company has already been recommended by both Motley Fool co-founders, David and Tom Gardner, because of its amazing similarity to an "early stage" Amazon.

Find out why Tom Gardner was recently on BNN's Money Talk raving about this company, and how you can read all about it inside Stock Advisor Canada. Click here to unlock all the details about his Canadian rule breaker!

https://www.fool.ca/2017/08/04/have-you-considered-klondex-mines-ltd/

$KLDX Klondex Being Added To Russell 3000

"Jun 23, 2017 (Marketwired via COMTEX) -- VANCOUVER, BC--(Marketwired - June 23, 2017) - Klondex Mines Ltd. (KDX) (nyse mkt:KLDX) ("Klondex" or the "Company") is pleased to announce it has been added to the broad-market Russell 3000® Index at the conclusion of the Russell indexes annual reconstitution, effective after the US market opens on June 26, according to a preliminary list of additions posted June 9......"

http://www.marketwatch.com/story/klondex-set-to-join-russell-3000r-index-2017-06-23-616058

Fibonacci target tracks on the KLDX chart





....and the larger picture. Looks like the bubble got pumped up 1 dollar higher than it should have. the topping resistance zone on the way down around 5.25 , and the true target zone (Fibonacci) on the way up at 5 dollars. ok. the pullback target zone that should be around 3 dollars , finally got there now.... maybe 3 dollar area is ok to buy. but the balance zone is around 3.50-4.00 so I wouldn't expect another giant rally from here, maybe a slow climb that seems to wallow around the 3.60-4.20 area for a while.




I'm looking at MUX as well for bottom fishing, around 2.25-2.00 area

MUX needs to come down a little more for me.

Good post flemsnopes....

timely too...as June began,it looks like it might have bottomed. Do you think that's the only reason for such a big 50 % haircut?? is KLDX a good miner? or did it just get bubbled up as a darling pump and dump game in the last year.?
3 dollars might be the dip to buy now at a good bottom if the company is really solid.

Anybody interested in Klondex? Ive been watching it on my list for a while. Not surprised to see any bubble get hammered back down. Look at many miners did this too...TAHO,AG, lots of miners collapsed after the big 2016 bubble rally. and after the 2017 bounce too. like KLDX

Here is the likely reason for the decline in KLDX since March. From what I can gather, the index sells the stocks being removed prior to the announcement. Note KLDX at the bottom of the list and that every mining company removed declined as a result of the shares dumped on the market. Hopefully, the forced selling will be through soon.

I wonder if Klondex will try to acquire Kerr Mines or at least the Golden 'Copperstone Mine' ?

"Kerr Mines Interviewed on CEO.ca
TORONTO, ONTARIO – May 29, 2017 – Kerr Mines Inc. (“Kerr” or the “Company”) (TSX: KER) recently sat down with Peter Bell for an interview on CEO.ca. During the interview, Claudio Ciavarella, CEO, and Martin Kostuik, President, provided an update on Kerr Mines and their strategy for advancing Copperstone this year."...

https://ceo.ca/@Newton/interview-with-martin-kostuik-claudio-ciavarella-kerr-mines-ker

Kerr Mines might be leaving the golden train station with a bright golden light at the end of the tunnel as Klondex has fortunately already successfully done IMHO!

cheer$,
GOldenPolarBear

I see this company is part of the gdxj rebalancing and is now close to its 52 week low. How low will this go?

$KLDX News

Development and Drilling Updates at Hollister; Intercepts 12.96 AuEq opt over 1.4 Feet

Marketwired MarketwiredMay 3, 2017

Klondex Announces Project Development and Drilling Updates at Hollister; Intercepts 12.96 AuEq opt over 1.4 Feet

RENO, NV--(Marketwired - May 03, 2017) - Klondex Mines Ltd. (KDX.TO) (NYSE MKT: KLDX) ("Klondex" or the "Company") is pleased to provide an update on project development activities and underground drilling at its Hollister Mine ("Hollister") located in northern Nevada, USA. These drill results will be included in the Company's initial mineral resource estimate scheduled to be released in the second quarter.

Project Development Highlights:

Rehabbed approximately 4,000 feet of underground workings in the main zone
Replaced approximately 4,000 feet of air and water lines
Repaired the dewatering system, ventilation system, electrical sub-station and underground mobile equipment
Actively developing the Gloria vein system including approximately 1,025 feet and 2,600 feet of waste and ore development, respectively
Initial mineral resource estimate for the Gloria vein system in the second quarter
Gloria Vein System Underground Drilling Highlights: (see TABLE 1 for complete results)

G17-041: 12.96 opt AuEq over 1.4 ft., or 444.3 g/t over 0.4 m
G17-044: 4.18 opt AuEq over 4.0 ft., or 143.3 g/t over 1.2 m
G16-021: 2.57 opt AuEq over 1.6 ft., or 88.1 g/t over 0.5 m
G16-018: 1.35 opt AuEq over 4.3 ft., or 46.3 g/t over 1.3 m
G16-010: 0.75 opt AuEq over 4.2 ft., or 25.7 g/t over 1.3 m
KEY POINTS:

Thirty Nine underground core holes totaling 14,656 ft. (4,467 m) were drilled during this reporting period.

The intent of this drill program was to infill the pre-existing drill holes to increase the drill hole density in the Gloria zone. This will allow the Company to produce an initial mineral resource estimate for the Gloria vein system, which is expected to be released in the second quarter.

Mr. Brian Morris, Senior Vice President, Exploration said, "We are seeing excellent grades and widths in the drill results which are consistent with what was historically mined in the main Hollister Mine." Mr. Morris continued, "Moreover the mineralized vertical extent appears to be similar to the Main Hollister workings."

Assays were performed by American Assay of Sparks, Nevada, as directed under the supervision of Klondex staff. This organization is an ISO 17025 accredited independent laboratory. Underground drill core samples were assayed using a fire assay one-assay ton method with an ICP finish. If initial Au assays were > 5ppm or Ag was > 200ppm the sample is re-assayed with a gravimetric finish. The quality control and assurance program included the insertion of standards and blanks, the retention of pulps and rejects. The core lengths are actual lengths as drilled and were not adjusted for the true width of the mineralized zones.

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

Klondex is a well-capitalized, junior-tier gold and silver mining company focused on exploration, development, and production in a safe, environmentally responsible, and cost-effective manner. The Company has 100% interests in three producing mineral properties: the Fire Creek Mine and the Midas Mine and ore milling facility, both of which are located in the state of Nevada, USA, and the True North Gold Mine (formerly known as the Rice Lake Mine) and mill in Manitoba, Canada. The Company also has 100% interests in two recently acquired projects, the Hollister mine and the Aurora mine and ore milling facility (formerly known as Esmeralda), also located in Nevada, USA.

Qualified Person

Scientific and technical information in this press release has been reviewed and approved by Brian Morris (AIPG CPG-11786), a "qualified person" within the meaning of NI 43-101.

Cautionary Note Regarding Forward-looking Information

This news release contains certain information that may constitute forward-looking information or forward-looking statements under applicable Canadian and United States securities legislation (collectively, "forward-looking information"), including but not limited to the exploration potential at the Hollister Mine; and the preparation of an initial resource estimate and the timing thereof. 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 mineral reserve estimates are reflective of actual mineral reserves; 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 United States available at www.sedar.com and www.sec.gov, respectively. 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.

$KLDX Gapping Up This Morning Again.

I Love The Accumulation On $KLDX The Past 6 Months.

Profile Get Profile for:
GO
Klondex Mines Ltd.
1055 West Hastings Street
Suite 2200
Vancouver, BC V6E 2E9
Canada - Map
Website: http://www.klondexmines.com

Details
Index Membership: N/A
Sector: N/A
Industry: N/A
Full Time Employees: N/A

Business Summary
Klondex Mines Ltd., together with its subsidiaries, acquires, explores, develops, and produces mineral properties in Nevada, the United States. It explores for gold and silver deposits. The company holds 100%interests in the Fire Creek Property covering approximately 17,000 acres located in Lander County; and the Midas mine and mill covering approximately 30,000 acres located in Elko County. It also holds interests in other early-stage exploration properties located in the State of Nevada. The company was formerly known as Attila Resources Limited and changed its name to Klondex Mines Ltd. in October 1974. Klondex Mines Ltd. was founded in 1971 and is based in Vancouver, Canada.

https://finance.yahoo.com/q/p?s=KLDX+Press+Releases

Klondex Update on Rice Lake Development Activities
Marketwired Klondex Mines Ltd.
April 14, 2016 8:04 AM
????

VANCOUVER, BC--(Marketwired - April 14, 2016) - Klondex Mines Ltd. (KDX.TO) (NYSE MKT: KLDX) ("Klondex" or the "Company") is pleased to provide an update on the Company's exploration and development activities at its Rice Lake Mine in Manitoba, Canada. The drill results summarized below were conducted by a prior owner of the Rice Lake Project. The Company intends to follow-up on the 15 hole drill program later this year. A summary of the results of this prior drill program is set out below.

Rice Lake Drilling Highlights from Q4 2014:

644-14-009: 0.15 opt Au over 14 ft, or 5.1 g/t over 4.3 m (Hanging Wall)
Including 0.30 opt Au over 5.3 ft, or 10.3 g/t over 1.6 m
644-14-011: 0.59 opt Au over 2.3 ft, or 20.4 g/t over 0.7 m (Hanging Wall)
644-14-016: 0.70 opt Au over 4.2 ft, or 24.1 g/t over 1.3 m (Foot Wall),
and 0.53 opt Au over 7.3 ft, or 18.1 g/t over 2.2 m (91 Vein)
644-14-017: 0.42 opt Au over 10.0 ft, or 14.3 g/t over 3.0 m (Foot Wall)
Including 0.76 opt Au over 4.3 ft, or 26.0 g/t over 1.3 m
644-14-018: 0.43 opt Au over 22.2 ft, or 14.8 g/t over 6.8 m (Foot Wall)
Including 0.57 opt Au over 16.4 ft, or 19.6 g/t over 5.0 m
644-14-019: 0.54 opt Au over 17.3 ft, or 18.4 g/t over 5.3 m (Foot Wall)
644-14-021: 1.89 opt Au over 14.0 ft, or 64.7 g/t over 4.3 m (Foot Wall),
and 0.53 opt Au over 3.3 ft, or 18.1 g/t over 1.0 m (91 Vein)
A total of 15 holes totaling 6,485 ft (1,977 m) were drilled during the fourth quarter of 2014 by San Gold Corporation from the 6440 drill station. These holes were targeting the down-dip extension of the 91 vein. This drilling identified the potential for a new vein in the footwall of the 91 vein adjacent to the 24 level incline. Moreover, an additional mineralized structure was intersected in the hanging wall of the 91 vein. This mineralization occurred where northeast and northwest structures intercept the San Antonio Mining unit (SAM) which is the host rock to much of the historic mining at the Rice Lake Mine. Drilling is planned for later this year to follow up these high grade intercepts. (TABLE 1)

Project development activities continue to advance and are on schedule and within budget.

Project Development Highlights:

Rice Lake Project has completed 83 days without a Loss Time Incident.
The notice to recommence mining and milling operations was approved by the Director of Manitoba Mineral Resources in March, 2016.
Shaft Project Complete - 100% of the guides have been replaced.
Track Repair Ongoing - Approximately 1,500 of track has been ditched and repaired at the 2600 level; project is ~55% complete.
Initiated testing of narrow vein long hole design to reduce dilution.
New underground shop and new gear storage cut-outs are 80% complete.
Initial metallurgical testing on existing tailings indicate the tailings can be processed through the existing mill flow sheet.
Mr. Paul Huet, President and CEO commented, "Our progress at the Rice Lake Mine has proceeded better than expected. The results of the Q4 2014 drill program noted above are very encouraging and suggest the opportunity for new high grade discoveries at Rice Lake." Mr. Huet continued, "Our progress in refurbishing the track and the shaft is on budget and on schedule and we are excited about the successful testing of long hole stoping at the mine. We continue to expect to be in a position to announce a production decision in the second half of this year, and we remain grateful to be part of such an exceptional and supportive mining community in Bissett."

Underground drill core samples were assayed on site in the then owner's assay lab using the fire assay method with an AA and gravimetric finish. The quality control and assurance program included the insertion of standards, the retention of pulps and rejects, and spot checks utilizing independent labs including TSL Laboratories in Saskatoon, Saskatchewan and Accurassay Laboratories in Thunder Bay, Ontario. The core lengths are actual lengths as drilled and were not adjusted for the true width of the mineralized zones.

Scientific and technical information in this press release has been reviewed and approved by Brian Morris (AIPG CPG-11786), a "qualified person" within the meaning of NI 43-101.

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

Klondex is a well-capitalized, junior-tier gold and silver mining company focused on exploration, development, and production in a safe, environmentally responsible, and cost-effective manner. The Company has 100% interests in two producing mineral properties: the Fire Creek Mine and the Midas Mine and ore milling facility, both of which are located in the state of Nevada, USA, as well as the recently acquired Rice Lake mine and mill in Manitoba, Canada.

Qualified Person

Scientific and technical information in this press release has been reviewed and approved by Brian Morris (AIPG CPG-11786), a "qualified person" within the meaning of NI 43-101.

Cautionary Note Regarding Forward-looking Information

This news release contains certain information that may constitute forward-looking information or forward-looking statements under applicable Canadian and United States securities legislation (collectively, "forward-looking information"), including but not limited to information about the magnitude and the quality of the Rice Lake mine and milling facility, the accuracy of current interpretation of drill and other exploration results, the Company's intention and ability to complete additional drilling, the Company's intention and ability to monetize mineralized material, the Company's intention and ability to make a production decision in the planned timeframe, project development and related permitting, cash flows, budgeting and the financial condition of the Company. 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 United States available at www.sedar.com and www.sec.gov, respectively. 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.
Contact:
For More Information
John Seaberg
Senior Vice President, Investor Relations and Corporate Development
O: 775-284-5757
M: 303-668-7991
jseaberg@klondexmines.com

$KLDX Klondex Reports First Quarter 2016 Production of 30,142 GEOs; Reiterates Full-Year Production Guidance
Marketwired Klondex Mines Ltd.
April 19, 2016 5:26 PM
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VANCOUVER, BC--(Marketwired - April 19, 2016) - Klondex Mines Ltd. (KDX.TO) (NYSE MKT: KLDX) ("Klondex" or the "Company") is pleased to report its production results for the first quarter of 2016 for its Fire Creek and Midas mines.


Three months ended March 31, 2016
Fire Creek Midas Total
Ore tons milled 32,742 41,013 73,755
Average gold mill head grade (oz/ton) 0.69 0.12 0.38
Average silver mill head grade (oz/ton) 0.92 7.98 4.84
Average gold equivalent mill head grade (oz/ton)(1) 0.70 0.22 0.44
Average gold recovery rate (%) 93.6 % 93.5 % 93.6 %
Average silver recovery rate (%) 88.6 % 90.6 % 90.4 %
Gold produced (ounces) 21,219 4,743 25,962
Silver produced (ounces) 26,693 296,429 323,122
Gold equivalent produced (ounces)(1) 21,575 8,476 30,142
Gold sold (ounces) 18,545 8,419 26,964
Silver sold (ounces) 34,845 290,429 325,274
Gold equivalent sold (ounces)(1) 19,010 12,077 31,172

(1) Gold equivalent ounces ("GEO") and grades are computed as the applicable gold ounces/grade plus the silver ounces/grade divided by a GEO ratio. GEO ratios are computed by dividing the average realized gold price per ounce by the average realized silver price per ounce received by the Company in the respective period. Preliminary GEO ratios were approximately 75.0:1 for Fire Creek, 79.4:1 for Midas, and 77.3:1 for Total.

First quarter 2016 production results were in-line with the Company's expectations which anticipates GEO production and grades progressively increasing throughout the year.

Lower grades during the first quarter at Fire Creek were the result of increased silling activities to open up additional working faces and provide future flexibility in the mine plan. Silling, or ore development on the vein, encompasses higher dilution, as compared to long-hole stoping or cut and fill mining, due to wider minimum mining widths.

As previously stated, at Midas, planned ore development activities continued which resulted in mining areas with grades consistent with the fourth quarter of 2015.

The 73,755 ore tons milled represents a quarterly record for the Company as the mining rate has increased from prior year levels to support our production growth and accommodate the planned lower ore grades in the first half of the year.

The Company reiterates its 2016 production guidance of a total of approximately 145,000 to 150,000 GEOs, which is split approximately 40%-45% in the first half of 2016 and 55%-60% in the second half of 2016.

Mr. Paul Huet, President and CEO commented, "Our first quarter 2016 operating results have positioned us well to continue our trend of growing Nevada's production year-over-year. The entire Klondex team has done a great job executing our strategy and with the new $25.0 million credit facility in place and project development work well underway at Rice Lake, I am excited to see what we can accomplish during the rest of the year."

About Klondex Mines Ltd. (www.klondexmines.com)
Klondex is a well-capitalized, junior-tier gold and silver mining company focused on exploration, development, and production in a safe, environmentally responsible, and cost-effective manner. The Company has 100% interests in two producing mineral properties: the Fire Creek Mine and the Midas Mine and ore milling facility, both of which are located in the state of Nevada, USA, as well as the recently acquired Rice Lake mine and mill in Manitoba, Canada.

Webcast and Conference Call
Klondex will report its financial results for the first quarter of 2016 after market close on Tuesday, May 10, 2016. A conference call and webcast will be held the following morning on Wednesday, May 11, 2016 at 10:30am ET/7:30am PT. The conference call telephone numbers are listed below.

Canada & USA Toll Free Dial In: +1 800-319-4610
Toronto: +1 416-915-3239
International: +1 604-638-5340

Callers should dial in 5 to 10 minutes prior to the scheduled start time and ask to join the Klondex call. The webcast will be available on the Company's website or by clicking http://services.choruscall.ca/links/klondex20160511.html.

Cautionary Note Regarding Forward-looking Information

This news release contains certain information that may constitute forward-looking information or forward-looking statements under applicable Canadian and U.S. securities legislation (collectively, "forward looking information"), including but not limited to information about current expectations on the timing, success and growth of exploration and development activities, the timing and success of mining operations, the Company's ability to produce and sell gold and silver, the Company's achievement of the full-year projections for GEO production, metal grades and production costs, the Company's ability to meet annual operations estimates, the ability to maintain average daily milling rates, the Company's intention and ability to monetize mineralized material, the successful execution and project development at all of the Company's mines and projects, and related permitting. 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 and silver; 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 United States available at www.sedar.com and www.sec.gov, respectively. 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.
Contact:
For More Information
John Seaberg
Senior Vice President, Investor Relations and Corporate Development
O: 775-284-5757
M: 303-668-7991
jseaberg@klondexmines.com