ELKO, NV and VANCOUVER, BC--(Marketwired - Nov 14, 2013) - As a result of a review by the British Columbia Securities Commission, Klondex Mines Ltd. (TSX: KDX) (OTCQX: KLNDF) ("Klondex" or the "Company") is issuing the following news release to clarify its disclosure.
All non-compliant technical disclosure has been removed from the Company's website in respect of the Company's Fire Creek project in Nevada (the "Fire Creek Project") in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Specifically, the Company has removed from its website disclosure in respect of a non-current mineral resource estimate for the Fire Creek Project, which estimate had an effective date of May 21, 2011 and was supported by a technical report dated August 29, 2011 (the "2011 Technical Report"). Further to the Company's news releases dated September 16, 2013 and October 31, 2013, investors are reminded that the current mineral resource estimate for the Fire Creek Project is disclosed in the technical report titled "Technical Report (Amended): Fire Creek Exploration Project, Lander County, Nevada" dated November 14, 2013 (with an effective date of August 31, 2013), as amended, prepared by Mark Odell, P.E., Principal Engineer, Practical Mining LLC, Karl Swanson, Independent Mining & Geological Consultant, SME, MAusIMM, and Michele White, Geologic Consultant, CPG #11252 AIPG, All One River GIS (the "2013 Technical Report"). The 2013 Technical Report supersedes the 2011 Technical Report in its entirety and the 2011 Technical Report should no longer be relied upon by investors. The 2013 Technical Report is available for review under the Company's profile on SEDAR at www.sedar.com.
In addition, the Company hereby retracts all statements in its September 16, 2013 news release and in its corporate presentation on the Fire Creek Project regarding "verified continuity" of mineralization at the Fire Creek Project. The majority of the mineral resources disclosed in the 2013 Technical Report comprise indicated and inferred mineral resources, which are estimates based on reasonably assumed, but not verified, geological and grade continuity.
The Company has also removed from its website the corporate presentation on the Fire Creek Project and is in the process of modifying and updating the presentation to comply with the requirements of NI 43-101, including the requirements to (i) disclose each category of mineral resources on the Fire Creek Project separately; (ii) disclose the effective date of each mineral resource estimate, the key assumptions, parameters and methods used to estimate the mineral resources and any known risks that could materially affect the potential development of such mineral resources; and (iii) disclose the relationship to the Company of the qualified person who prepared or supervised the technical information contained in the corporate presentation and on the Company's website.