KLONDIKE SILVER CORP.
FOR IMMEDIATE
RELEASE
TSXV: KS
www.klondikesilver.com
October 12,
2007
CLEAVER
PROPERTY ACQUIRED
Klondike
Silver Corp. (TSXV: KS) is pleased to announce, subject to
regulatory approval, the acquisition of a 100% interest in the Cleaver
Property, located in Cleaver and McNeil
Townships, Larder Lake Mining
Division, Ontario approximately 45 kilometres
southeast of Timmins, Ontario. Consideration for the Property consists of
$175,000 and the issuance of 250,000 shares. There is also a 2% net
smelter return payable, half of which may be purchased for $1,000,000.
The
Cleaver Property consists of 34
claims totaling 490 units and is
accessible by logging roads. The property covers a thick sequence of
mafic and felsic volcanics on strike with a number of historical gold and base
metal (zinc, lead, silver) occurrences. The company has commissioned
Geotech to fly the state-of-the-art VTEM airborne system over the Cleaver
property and other ground in the area. Survey results will be used to
target exploration on areas with the potential to host gold, silver, nickel,
copper, lead, and zinc mineralization.
On behalf of
the Board of Directors
KLONDIKE SILVER CORP.
“Richard W. Hughes”
(signed)
President
For Further
Information Contact: The Hughes Exploration Group at (604)
685-2222
Or
visit the Company’s website: www.klondikesilver.com to see
the Smartstox Report in which Stanlie Hunt interviews Klondike Silver Corp.
President Richard Hughes.
This document
contains certain forward looking statements which involve known and unknown
risks, delays and uncertainties not under the corporation’s control which
may cause actual results, performance or achievements of the corporation to be
materially different from the results, performance or expectation implied by
these forward looking statements.
The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this news release.