Klondex Mines fka KDX

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Klondex Reports New High-Grade Gold Intercept 18.0 gpt over 9.1 meters (0.51 oz/ton over 30 feet) at Nevada ''Fire Creek'' Deposit

Monday November 26, 10:45 am ET

http://biz.yahoo.com/bw/071126/20071126005664.html?.v=1

VANCOUVER, British Columbia--(BUSINESS WIRE)--Klondex Mines Ltd. (TSX: KDX - News) announced additional high-grade gold intercepts from recent core drilling under its Phase 6 drilling program at its 100%-owned Fire Creek property in the Battle Mountain-Eureka Trend in Northern Nevada.
Source: Klondex Mines Ltd.

A high grade gold intercept was reported in hole FC0724 which returned 18.0 grams per ton (gpt) over 9.1 meters (0.51 oz/ton over 30 feet), including 38.0 gpt gold over 3.05 meters (1.10 oz/ton over 10 feet). Additionally, hole FC0707B in the Main Zone returned an interval of 8.25 gpt over 3.81 meters (0.24 oz/ton over 12 feet) and hole FC0712 tested the New North Zone and returned an interval of 7.18 gpt over 3.05 meters (0.21 oz/ton over 10 feet).

Together with the previously announced results from drilling to the south (October, 2007), hole FC0724 has the effect of extending the Main Zone mineralization along strike. Previously extending from 50m South to 450m North (500 meters) the Main Zone now extends from 250m South to 750m North (1000 meters). Klondex believes that this will result in a significant increase in contained ounces at Fire Creek when the previously announced, September 2006 NI 43-101 defined compliant resource is updated in the first quarter of 2008 after its Phase 6 drilling program is concluded this year.

Klondex also received assays from drill holes FC0715, FC0716 and FC0736 which tested the southern extension of the New North Zone at depth. These holes all encountered the vein system with geochemically anomalous values (0.5 gpt to 2.0 gpt).

Drilling will continue at Fire Creek with two core rigs until mid-December 2007. The Company continues its permitting and mining contractor selection activities for its planned 2008 underground exploration program.

A plan map showing drill hole locations is available on the Company’s website at http://www.klondexmines.com/s/News.asp

The true width of intercepts of holes reported here are estimated at 70% of reported widths. The intervals reported for FC0724 above incorporates a 371 gpt silver value over 1.52 meters (10.7 oz/ton over 5 feet) at a silver to gold equivalency of 60:1.

As of October 30, 2007, Klondex had 22,944,673 shares issued and cash of approximately $5.82 million CDN invested in Canadian treasury bills and in guaranteed bank accounts. The recent appreciation of the Canadian dollar versus the US dollar has increased Klondex's purchasing power for its US dollar-denominated drilling program. The Company has no exposure to any derivatives, futures, hedges or related risk.

Richard Kern (P.Geo) of Reno, Nevada, is the Company’s qualified person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.

Klondex has in place a rigorous QA/QC program consistent with National Instrument 43-101 and using best industry practice. ALS Chemex Labs of Reno, Nevada and SGS Minerals services, Toronto responsible for all the Klondex Mine’s assaying.

About Klondex Mines Ltd.:

Klondex Mines (TSX: KDX - News) is a gold exploration company focused on the development and expansion of its high-grade Fire Creek deposit in Nevada. At Fire Creek, Klondex has a NI 43-101 compliant Indicated Mineral Resource estimated at 1,636,555 tonnes grading 19.88 grams per tonne (0.576 oz/ton) containing 1,045,738 oz of gold in two separate mineral zones, and has filed for permits to begin bulk sampling for metallurgical testing of up to 120,000 tons of ore.

Fire Creek is located in the Battle Mountain-Eureka Trend in the Northern Nevada Rift, in North Central Nevada, an area of prolific gold production. Klondex currently has two drill rigs working to expand its resource at Fire Creek. The Company was founded over 30 years ago, and its property portfolio contains three other gold exploration projects, all in Nevada. For more information, please visit www.klondexmines.com.

ON BEHALF OF KLONDEX MINES LTD.
"William J. Solloway" "Robert Sibthorpe"
President Technical Director

MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5553663

Contact:
Investor:
Jaffoni & Collins Incorporated
David Collins, Steven Hecht
212-835-8500
[e-mail]
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Source: Klondex Mines Ltd.