🕐16.07.14 - 13:00 Uhr
KLONDEX MINES REPORTS SECOND QUARTER 2014 OPERATIONAL RESULTS
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Klondex Mines Reports Second Quarter 2014 Operational Results
Vancouver, BC - July 16, 2014 - Klondex Mines Ltd.
(TSX: KDX; OTCQX: KLNDF) is pleased
to report preliminary selected operational results for the Companys second quarter
ended June 30, 2014.
Klondex Mines Operational Results
2Q 2014
1Q 2014
Total
Underground Operations
Tons Mined
54,659
22,370
77,029
Processing
Tons Milled
46,047
21,727
67,774
Au Ounces Recovered
17,093
13,545
30,638
Ag Ounces Recovered
325,018
158,372
483,390
Au Equivalent Ounces Recovered
22,239
16,052
38,291
Au Ounces Sold
20,293
3,369
23,662
Ag Ounces Sold
343,025
58,053
401,078
Au Equivalent Ounces Sold
25,724
4,288
30,012
Paul Huet, President and CEO commented, "As we continued to ramp up our Nevada operations,
our team delivered excellent results.
Based on our first half operating results,
we are on track to meet managements expectations in 2014.
More importantly, we
have a stronger balance sheet as cash and working capital increased at the end
of 2Q2014, compared to 1Q2014.
The recently announced bought deal financing, expected
to close by July 31, 2014, will provide for development programs and accelerated
exploration at Midas and Fire Creek."
Klondex will release its 2014 second quarter financial and operational results after
market close on Tuesday August 12, 2014, and will hold a conference call on Wednesday
August 13, 2014, at 10:30 AM EST.
The Company invites you to participate in the
upcoming conference call to discuss its second quarter financial and operating results
for 2014.
A playback of the conference call will be available via the website and will be
posted within 24 hours of the call.
About Klondex Mines Ltd.
(www.klondexmines.com)
Klondex Mines is focused on the exploration, development and production of its two
high quality gold and silver projects in the mining-friendly jurisdiction of north
central Nevada.
The 1200 tpd milling facility is being mineralized materials from
the Midas Mine and the Fire Creek Project.
Midas is fully-permitted and has been
producing gold and silver since 1998.
Fire Creek is located ~100 miles south of
Midas and is operating an ongoing bulk sampling program that began in 2013.
All
major infrastructure is in place at Fire Creek, and Klondex is in the process of
obtaining the full mining permit.
For More Information
Paul Huet
President & CEO
775-284-5757
Alison Tullis,
Manager, Investor Relations
647-233-4348
Cautionary Note Regarding Technical Information and Forward-looking Information
A production decision at the Midas mine was made by prior owners of the mine, prior
to the completion of the acquisition of the Midas mine by Klondex.
To the knowledge
of Klondex, this production decision was not based on a feasibility study of mineral
reserves demonstrating economic and technical viabilityprepared in accordance with
NI 43-101 but was based on internal studies conducted by the prior owner of the
mine.
Klondex has no reason to believe that the data on which such studies were
based or that the results of such studies are unreliable.
However, readers are cautioned
that there is increased uncertainty and higher risk of economic and technical failure
associated with such production decisions.
This news release contains certain information that may constitute forward-looking
information under applicable Canadian securities legislation, including but not
limited to the preliminary selected operational results for the Companys second
quarter ended June 30, 2014.
This forward-looking information entails various
risks and uncertainties that are based on current expectations, and actual results
may differ materially from those contained in such information.
These uncertainties
and risks include, but are not limited to, the strength of the global economy; the
price of gold; operational, funding and liquidity risks; the degree to which mineral
resource estimates are reflective of actual mineral resources; the degree to which
factors which would make a mineral deposit commercially viable are present; the
risks and hazards associated with underground operations; and the ability of Klondex
to fund its substantial capital requirements and operations.
Risks and uncertainties
about the Companys business are more fully discussed in the Companys disclosure
materials filed with the securities regulatory authorities in Canada and available
at www.sedar.com.
Readers are urged to read these materials.
Klondex assumes no
obligation to update any forward-looking information or to update the reasons why
actual results could differ from such information unless required by law.
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Klondex Mines Ltd.
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Suite 304, 595 Howe Street, Vancouver, BC
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Klondex Mines | Suite 304, 595 Howe St.
| Vancouver | BC | V6C 2T5 | Canada