Mr. Thomas Kennedy reports

KLONDIKE PROVIDES NOTICE OF LATE FILING OF ANNUAL FINANCIAL STATEMENTS - EXTENSION OF PRIVATE PLACEMENT

Klondike Silver Corp.'s audited financial statements and MD&A (management's discussion and analysis) for the fiscal year ended May 31, 2025, will be filed after the statutory due date of Sept. 28, 2025. This relates to a pre-existing cash shortage which prevented the auditor from commencing the necessary work in a timelier manner to enure completion of the audit by the Sept. 28, 2025, filing deadline. This has since been corrected and the auditor is now fully engaged in the audit process -- the company is expecting the audit to be completed and filed by no later than Nov. 28, 2025. The company is in the process of raising additional working capital in order to avoid future defaults.

Nonetheless, the company will be placed on the defaulting issuer list maintained by the Canadian securities regulators, pending the correction of the default.

In order to avoid the issuance of a cease trade order, the company has made an application for a management cease trade order (MCTO) which will prevent management (including the CEO (chief executive officer) and CFO (chief financial officer)) from trading any securities of the company until the default has been corrected. The company is working with its auditor and expects a full correction by Nov. 28, 2025. The company will continue to address the issues and provide biweekly updates, as mandated by NP 12-203.

In order to address continuing working capital shortfalls, the company also wishes to announce an extension to the private placement announced on July 8, 2025.

The company intends to issue up to 30 million units for gross proceeds of $1.5-million at a price of five cents per unit. Each unit will consist of one common share and on share purchase warrant, with each warrant exercisable for a period of five years from closing. The exercise prices will be five cents in years 1 and 2, and thereafter eight cents until maturity. The securities will be subject to a four-month hold period from the date of issuance.

The net proceeds will be used to advance the Silvana silver mine project and for working capital.

About Klondike Silver Corp.

Klondike's Silvana mine silver-zinc-lead project is located in southeastern British Columbia, 138 kilometres north of the Trail, B.C., smelter. The company is actively exploring from underground, the western extension of the Silvana mine, along the Main Lode. The Main Lode is a nine-kilometre vein structure which is the most prolific mineralized structure in the Slocan mining camp. There are 13 historical mines that are situated along the nine km vein structure which have produced 886,000 kg of silver, 95 million kg of zinc and 117 million kg lead so far. Including eight of the 13 above there are 68 historical mines that are situated in the Klondike Silver 116-square-kilometre claim block which have produced 1,258,000 kilograms of silver, 72 million kg of zinc and 158 million kg lead so far.

We seek Safe Harbor.