=======================================================================
Re:   News Release - Thursday, July 10, 2008
      Diamond Drilling Program on the Wonderful Underway
=======================================================================

Klondike Silver Corp. (TSXV: KS) is pleased to report that the
underground diamond drill station on level 4 in the Wonderful Mine, on
a heading down dip from the McLanders zone, (grab values reported as
high as 79% lead and silver as high as 197 oz per ton as previously
reported), has been completed with the diamond core drill program now
underway.  Over eight hundred feet of drilling will complete this first
phase of exploration of the zone between level three and four.

The diamond drill program is designed to test the steeply dipping
mineralized vein that was discovered in a raise being driven from
number four level to number three level.  The raise, which is now
approximately 80% complete, follows a mineable mineralized structure,
with a mineable width that continues to increase.  The drilling will
test the width of the vein both along strike and down dip of the raise.
 The diamond drill station is located approximately 20 metres on the
hanging wall side of the vein.

Vein samples have been sent in for assay and results are pending.

Management is encouraged and pleased by the progress made in the
Wonderful and the exploration taking place to discover new zones.

About Klondike Silver

Klondike Silver Corp. has assembled a quality portfolio of silver and
silver-rich poly-metallic properties in historic mineral districts of
North America, and is applying advanced exploration technologies to add
value to these core assets.

The Company holds more than 10,000 hectares of claims and crown grants
in the "Silvery Slocan" district, including numerous past-producing
mines and a fully permitted and operating 100 tons per day mill near
the historic mining town of Sandon, B.C.

Klondike Silver is reviving the historic Gowganda and Elk Lake silver
camps in Ontario, and is exploring silver-rich poly-metallic targets in
the world-famous Klondike district of Yukon Territory. The Company has
also recently optioned eight high-potential mineral concessions in
under-explored historic mineral districts of Mexico.

Klondike Silver is a member of the Hughes Exploration Group of
Companies and is led by a team with a stellar track record of discovery
and development in Canada.


CONTACT INFORMATION
Corporate Inquiries:

Kevin Hull or Alan Campbell
(604)-685-2222
Email: info@klondikesilver.com

Or visit Klondike Silver's web-site: www.klondikesilver.com to see
Smartstox interviews with our Company President.

AGORACOM Investor Relations
Email: KS@agoracom.com
Website: http://www.agoracom.com/ir/KlondikeSilver

The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.

=======================================================================
Copyright (c) 2008 KLONDIKE SILVER CORP. (KS)  All rights reserved.
For more information visit our website at
http://www.klondikesilver.com/ or send mailto:info@klondikesilver.com
=======================================================================
.