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Klondex Reports Progress on Permitting for Its Underground Program

|Includes:Klondex Mines Ltd. (KLDX)
Vancouver, British Columbia – March 10, 2010 - Klondex Mines Ltd. (TSX: KDX) announced today an update on permitting for its underground development program focused on bulk sampling and exploration drilling.
 
KDX has posted a U.S. $1.4 reclamation bond required pursuant to the Company’s U.S. Bureau of Land Management permits (BLM) issued in late December 2009. To fund the bond without issuing common stock at current levels, Klondex has secured a U.S. $1.4 million loan facility bearing interest at 6% per year. KDX has also executed a contract with Western Cultural Resource Management (WCRM) to perform archeological site work also required pursuant to KDX’s BLM permits.....

this on top of recent management appointments.


Disclosure: No Position; Represent the company in its IR effort
Stocks: KLDX