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$KDX / $KLNDF Secures $20mm Gold Loan to Fund Underground Program

|Includes: Klondex Mines Ltd. (KLDX)
Vancouver, B.C. – July 14, 2010 - Klondex Mines Ltd. (TSX: KDX and OTC: KLNDF) is pleased to announce the execution of a financing Term Sheet with a New York based private investment firm whereby KDX will be entitled to draw down on a loan, at its option, a minimum of US$ 10 million to a maximum of US$ 20 million, for use in development of the Fire Creek property. This financing provides KDX the financial and operational flexibility to fund the development of its high grade Fire Creek property, without restrictions on operations. The financing is expected to close on or before August 31, 2010, subject to definitive documentation.

Disclosure: IR Representative