Mr. Peter Tallman reports

KLONDIKE GOLD ANNOUNCES UPSIZE OF PRIVATE PLACEMENT TO $1,100,000

Further to the news release dated Nov. 27, 2023, Klondike Gold Corp.'s offering has been increased by $350,000 to raise gross proceeds of up to $1.1-million, subject to final approval from the TSX Venture Exchange, in aggregate of flow-through funds and non-flow-through funds by way of a non-brokered private placement.

The flow-through placement will consist of the sale of flow-through units at a price of nine cents per flow-through unit with each flow-through unit consisting of one common share which is a flow-through share for Canadian income tax purposes and one share purchase warrant.

The non-flow-through placement will consist of the sale of units at a price of eight cents per unit, with each unit consisting of one common share and one share purchase warrant.

Each share purchase warrant will entitle the holder to purchase one common share at a price of 18 cents per common share for a period of two years from the date of issuance.

A finder's fee on the gross proceeds of the financing may be paid.

The financing may close in tranches. The company intends to use the proceeds from the financing to continue exploration and development of the company's Yukon properties, as well as for general working capital.

All securities will be subject to a four-month-and-one-day statutory hold period after the date of closing.