Klondike Silver Corp (KS)

[kidthief]

Klondike Silver Corp. Shareholders Approve Consolidation
Vancouver, BC - Klondike Silver Corp. (TSXV:KS) (the "Company") is pleased to announce that shareholders of the Company and the TSX Venture Exchange (the "Exchange") have approved the consolidation of the Company's shares on a 1:20 basis. The Company will begin trading on a consolidated basis on March 29, 2011.

CONSOLIDATION:

At the Company's Special Meeting held on March 14, 2011 and adjourned to March 21, 2011, shareholders approved a consolidation of its share capital on the basis of one (1) new common share for every existing twenty (20) common shares (the "Consolidation"). Where the exchange resulted in a fractional share, the number of common shares will be rounded to the nearest whole common share. The Consolidation will enhance the marketability of the common share as an investment and facilitate additional financings to fund future operations. Shareholder and Exchange approval of the Consolidation has been received with the record date set as March 21, 2011. The Company will then have a total of 10,168,904 common shares issued and outstanding.

About Klondike Silver:

Klondike Silver Corp. has assembled a quality portfolio of silver properties in historic mineral districts in North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company owns a 100 TPD fully operational flotation mill in Sandon, BC, which processes material from local mines in the historic Slocan Silver Camp.

Management is presently preparing reports for Directors to assist in the development of exploration and production of budgets for 2011 and 2012. It is the present goal of management to locate sufficient ore to allow for the maximizing of mill capacity.

Contact Information:

Corporate Inquiries:

Alan Campbell and Kevin Hull (604)-685-2222
Email: [e-mail]