Klondike Gold Corp. : PRIVATE PLACEMENT AMENDMENT

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January 23, 2012

PRIVATE PLACEMENT AMENDMENT

VANCOUVER, BC- Klondike Gold Corp.(the "Company") is pleased to report that it is amending its private placement previously announced December 14, 2012. The financing will now consist of the sale of up to $2,000,000 worth of flow through and non-flow through shares of the Company priced at $0.10 and $0.08 per share respectively with a maximum 25,000,000 shares to be sold.

This amendment is subject to regulatory approval and, in accordance with Exchange policies, finders' fees in cash and/or shares may be paid on a portion of the funds raised. Proceeds will be used for exploration expenditures on the Company's Yukon and British Columbia properties, to fund the acquisition and exploration of new mineral properties in Portugal and general working capital.

About Klondike Gold Corp.

Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver, British Columbia and Dawson City, Yukon. The Company is focused on the development of its Yukon and British Columbia gold properties. In addition the Company holds a large portfolio of base metal projects in southeastern British Columbia.

CONTACT INFORMATION

Inquiries: Erich Rauguth, President & CEO 604-685-2222
Email: [e-mail]