Klondike Silver Corp: Private Placement Amendment

#711-675 WEST HASTINGS STREET VANCOUVER, B.C. CANADA V6B 1N2 TELEPHONE: 604-685-2222 FAX: 604-685-3764 WWW.KLONDIKESILVER.COM

FOR IMMEDIATE RELEASE: April 18, 2011 TSXV: KS

Klondike Silver Corp: Private Placement Amendment

VANCOUVER, BC —Klondike Silver Corp. (the “Company”) (TSX-V: KS) amended the unit price from $0.31 to $0.34 and the total proceeds from $372,000 to $408,000 has it’s private placement announced on April 13, 2011. It has arranged for a private placement of up to 1,200,000 units for total proceeds of up to $ 408,000. The financing will consist of Units priced at $0.34 per Unit. Each of the units consists of one common share and one non-transferable share purchase warrant entitling the holder to purchase one additional common share for five years at a price of $0.45 per share. In accordance with Exchange policies, finders' fees may be paid on a portion the funds raised. The private placement is subject to regulatory approval.

Proceeds from the private placement will be used for general working capital.

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About Klondike Silver:

Klondike Silver is a member of the Hughes Exploration Group of Companies and is led by a team with a stellar track record of discovery and development in Canada.

Contact Information:

Corporate Inquiries: Kevin Hull or Alan Campbell, (604)-685-2222 Email: [email protected]

Or visit Klondike Silver’s web-site: www.klondikesilver.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy or contents of this news release.

The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.