KLDX Klondex Mines Ltd. (delisted)

Klondex Mines Ltd. (TSX: KDX), a Nevada gold exploration and development company, announced today that its CEO, Blane Wilson, will present at the PDAC 2012 Corporate Presentation Forum, Wednesday, March 7 at 11:00 a.m. ET.

Klondex’s presentation will take place in Room 801A in the Gold - Americas 3 Session, in the Metro Toronto Convention Centre, South Building.

Klondex will also exhibit in Booth #2835 of the Prospectors & Developers Association of Canada (PDAC) Convention’s Investors Exchange.

Mr. Wilson will review the progress of Klondex’s surface exploration and underground programs. The underground program is centered on a 1,113 meter (3,650 foot) decline to enable more efficient underground definition drilling of the Main Zone resource. The decline will also enable Klondex to initiate bulk sampling of the resource, now targeted to begin at the end of June 2012.

At PDAC, Klondex will be represented by the following team members:

                Blane Wilson     President & CE0 William Solloway Chairman Ted Wilton Vice President, Exploration Brendan Donohoe Treasurer Doug Carter Surface Superintendent at Fire Creek Brandy Mothershead Administrative Assistant David Fox Financial Consultant David Collins Investor Relations  

About Klondex Mines Ltd. (www.klondexmines.com):

Klondex Mines is focused on the exploration and development of its 100% owned Fire Creek gold deposit in North Central Nevada. Fire Creek is a compelling gold mining prospect located near power, transportation, mining infrastructure and several milling facilities. Fire Creek’s mineral resource is reviewed in the table below; the most recent technical report is available here with additional disclosure available via SEDAR.

Fire Creek Project - Indicated and Inferred Mineral Resource as of May 21, 2011 Gold Cut-off         Metric     Grade     GPT     Classification     Tonnes     GPT     Oz. Gold 4.0 Indicated 5,176,050 9.90 1,647,052 4.0 Inferred 1,732,810 8.22 458,084   7.0 Indicated 2,145,283 17.62 1,215,019 7.0     Inferred     555,043     12.54     223,794  

In addition to an active surface exploration program at Fire Creek, in April 2011 Klondex initiated an underground exploration and development program through an underground decline. The program is designed to enable more cost effective in-fill drilling of its existing resource from underground stations as well as to enable bulk sampling for metallurgical testing of up to 120,000 short tons of material (limited to 36,500 short tons per year). Bulk sampling is anticipated to commence by the end of June 2012.

As of February 28, 2011, Klondex had 46.5 million shares issued and outstanding and 59.2 million shares on a diluted basis.

Richard Kern (P.Geo), of Reno, Nevada, a qualified person as defined under National Instrument 43-101, has reviewed and approved the technical information contained in this press release.

This news release contains forward-looking statements, including about current expectations on the timing of project development. These forward-looking statements entail various risks and uncertainties, are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the global economy; the price of gold; operational, funding and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedar.com. Readers are urged to read these materials. Klondex assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.

CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING RESOURCES

This press release uses the terms "inferred mineral resources," "indicated mineral resources," and "mineral resources" which are Canadian mining terms defined in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves (the "CIM Standards"). The CIM Standards differ significantly from standards in SEC Industry Guide 7 under the United States Securities Act of 1933, as amended. While the terms "mineral resource," "indicated mineral resources," and "inferred mineral resources" are recognized and required by Canadian regulations, they are not defined terms under SEC Industry Guide 7 and are not normally permitted to be used in reports filed with the Securities and Exchange Commission. Readers are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Readers are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. As such, information regarding resources contained in this press release may not be comparable to similar information made public by United States companies subject to reporting and disclosure requirements under United States federal securities laws and the rules and regulations promulgated thereunder.

On Behalf of Klondex Mines Ltd.Blane W. WilsonPresident & CEO