======================================================================= Re: News - Thursday, June 23, 2011 Glass Lewis Recommends Klondex Shareholders Vote for Klondex Director Slate ======================================================================= - Glass Lewis is the 2nd Proxy Advisory Firm to Support the Klondex WHITE Proxy Slate - Vancouver, BC - June 23, 2011 - Klondex Mines Ltd.

(TSX: KDX) announced today that Glass, Lewis & Co., a leading proxy advisory firm, has also recommended that shareholders vote FOR all of managements nominees using the WHITE proxy card and to "Not Vote" for the yellow proxy card dissident slate put forth by The K2 Principal Fund group to seek control of the entire Klondex Board. In its conclusion, Glass Lewis stated that "shareholders are effectively being asked to replace the entire board, an all-or-nothing proposition that, in our view, offers little nuance when determining the structure of the Board going forward.

Considered in the full context of the presented arguments, including the Companys financial performance, we do not believe the Dissidents concerns warrant replacing the board." Supporting its conclusion, Glass Lewis commented that Klondexs share price performance over the three years ended June 10, 2011, the last trading date prior to the Dissidents solicitation, "has significantly outperformed a peer composite, the S&P Global Gold Index and the S&P/TSX Composite Index - Gold." Additionally on a historical price-to-book value multiple in 2009, 2010 and year-to-date in 2011, Glass Lewis noted that Klondexs price-to-book multiple exceeded that of a peer group of comparable companies.
PROTECT YOUR INVESTMENT IN KLONDEX - VOTE YOUR WHITE PROXY --------------- AND DISCARD THE YELLOW DISSIDENT PROXY. ------------------ For questions or assistance, please call Georgeson at 1-866-676-3009.
Blane Wilson, Klondex President and COO, commented: "Glass Lewiss recommendation reaffirms our view that Klondexs director slate is a better choice to represent the interests of Klondex shareholders than the dissidents slate.

However, this proxy contest is not over until final votes are cast.

We urge all shareholders to make an extra effort to vote their shares.

They should call Georgeson, our proxy solicitors, with any voting questions or concerns." Glass, Lewis & Co.

LLC is a professional services firm that provides proxy research, analysis and voting recommendations to institutional investors and money managers around the world. Permission to disclose the Glass Lewis recommendation was neither sought nor obtained. Klondex Shareholder Conference Call Klondex held a shareholder conference call on Tuesday, June 21st to review its vision, plans and progress in more detail and to answer shareholder questions.

A replay is available as follows: Webcast Replay Link: http://tinyurl.com/6863nul Replay Number: 402-977-9140 or 800-633-8284, code 21528625; through June 30
ON BEHALF OF KLONDEX MINES LTD. William J.

Solloway Chairman and CEO Blane Wilson President and COO Shareholder Contacts: Bryson Goodwin David Collins, Norberto Aja Klondex Mines Ltd.

Jaffoni & Collins (604) 341-1531 David Collins, Norberto Aja Jaffoni & Collins (212) 835-8500 ======================================================================= Copyright (c) 2011 KLONDEX MINES LIMITED (KDX) All rights reserved.

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