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Re: News - Tuesday, August 12, 2008
Klondex President Exercises Options
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Vancouver, BC- August 12, 2008 - On August 11, 2008, William J.
Solloway, c/o 750 - 580 Hornby Street, Vancouver, British Columbia,
exercised 459,750 share incentive options at a price of CDN $0.65 and
100,381 share incentive options at a price of CDN $1.05, acquiring
exercise of control or direction over an aggregate of 560,131 common
shares in the capital of Klondex Mines Ltd. (TSX: KDX), representing
approximately 2.2% of the issued and outstanding common shares of
Klondex. The stock option exercises yielded CDN $404,237.55 in gross
proceeds to Klondex's treasury.
Subsequent to the exercising of these share inceptive options, Mr.
Solloway exercises control or direction over 3,170,235 common shares of
Klondex, or approximately 13.5% of the issued and outstanding common
shares of Klondex, and holds options to acquire a further 300,000
common shares of Klondex, at an exercise price of CDN $2.35 per common
share until July 17, 2011 (the "Outstanding Options"). Assuming
exercise of the Outstanding Options, Mr. Solloway would exercise
control or direction over an aggregate of 3,470,235 common shares of
Klondex, representing in aggregate approximately 14.6% of the
outstanding common shares of Klondex on a partially diluted basis.
These securities were acquired for investment purposes, and no person
acted jointly or in concert with Mr. Solloway. Mr. Solloway may
acquire additional securities of Klondex for investment purposes.
A report respecting this acquisition will be filed with the British
Columbia, Alberta and Ontario Securities Commissions. A copy of the
report may be obtained from the SEDAR website (www.sedar.com) or by
contacting William J. Solloway, c/o 750 - 580 Hornby Street, Box 113,
Vancouver, British Columbia V6C 3B6.
William J. Solloway
This news release is issued pursuant to National Instrument 62-104 -
The Early Warning System and Related Take-Over Bid and Insider
Reporting Issues
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Copyright (c) 2008 KLONDEX MINES LIMITED (KDX) All rights reserved.
For more information visit our website at http://www.klondexmines.com/
or send mailto:info@klondexmines.com
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