Klondex Receives Shareholder Petition

    VANCOUVER, BRITISH COLUMBIA, June 27 /CNW/ - Klondex Mines Ltd. (TSX:
KDX) announced that it has received a Petition filed with the Supreme Court of
British Columbia in relation to a shareholder proposal previously submitted to
the Company by a family purporting to own approximately 1% of the Company's
shares as of March 12, 2007. In the filing, the Petitioners claim that an
individual they wished to be nominated for a seat on the Klondex Board of
Directors be placed on the ballot at the next Annual General Meeting was
unduly rejected. The Company determined that the shareholder proposal had not
been submitted in compliance with the provisions of the Business Corporations

    The Petitioners are seeking to have their proposal circulated to
shareholders and seek a postponement of the Annual General Meeting (AGM)
currently scheduled for July 5, 2007. The Company is being advised by counsel
on an appropriate legal response to the Petition. Unless otherwise publicly
announced, the Company's AGM remains scheduled for July 5th at 9:00 a.m. EDT.

    Klondex has been active in conducting an ongoing search for additional
independent Board members possessing significant mining experience relevant to
the Company's gold exploration and development efforts in North Central
Nevada. To that end, in May 2007 the Company appointed Ronald Shorr to the
Board of Directors. Mr. Shorr has over 30 years of experience in the mining
industry. He is currently President, CEO and a Director of a high-grade gold
exploration company, among other mining industry affiliations. Mr. Shorr also
has extensive experience on Wall Street as an "Institutional Investor All
American-ranked" senior mining analyst with Bear Stearns and Morgan Stanley
Dean Witter. He is a Chartered Financial Analyst (CFA), a graduate of the
University of Michigan, earned his M.B.A. from Harvard Business School and
completed post-graduate work at Columbia University's Henry Crumb School of

    About Klondex Mines Ltd.:

    Klondex (TSX: KDX) is a gold exploration company focused on the
development and expansion of its high-grade Fire Creek deposit in Nevada.
Klondex has identified an Indicated Mineral Resource of over 1,000,000 ounces
of gold at Fire Creek and has filed for permits to begin bulk sampling of over
120,000 tonnes. Fire Creek is located in the Battle Mountain-Eureka Trend in
the Northern Nevada Rift, in North Central Nevada, an area of prolific gold
production. Klondex currently has three drill rigs working to expand its
resource at Fire Creek. The Company was founded over 30 years ago, and its
property portfolio contains four other gold exploration projects, all in
Nevada. For more information, please visit www.klondexmines.com.

    "William J. Solloway"                              "Robert Sibthorpe"
    President                                           Technical Director

For further information:

For further information: Jaffoni & Collins Incorporated David Collins or
Steven Hecht, 212-835-8500 KDX@jcir.com

Organization Profile

Klondex Mines Ltd.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890