KG Klondike Gold Corp

Klondike Gold Corp. (the "Company") (TSX VENTURE:KG) is pleased to announce that
its application for an exploration license in the Largares area Portugal has
been accepted by Portuguese Department of Energy & Geology. Klondike Gold
Corp.'s licence application covers about 80 km2 and includes the historic
Castromil Gold Mine ("Castromil"). The Castromil Mine is located 21 km from
Oporto, the second largest city in Portugal, and has been the site of historical
mining dating to the Roman period. The first modern exploration activity began
in 1941, when the company Minas Gold Douro started prospecting on site. This
work stopped in 1946, apparently due to lack of funds. In 1964, a Canadian
company - Noranda Inc. - also began work, which ended in 1966, due to a fall in
gold prices. In 1973, Anglo American plc analyzed the property, followed in 1988
by Billiton plc. Both companies are major multinational producers and found the
deposit too constrained for their business models under the market conditions at
that time. Connary Minerals Ltd. explored the area between 1994 and 1997 and
concluded that the exploitation of the Castromil deposit was viable. Connary
submitted a proposal for mine development which was rejected by Portuguese
authorities in 2000. Portugal has since changed its position towards mining and
is aggressively pursuing a mineral exploration and resource development
strategy. The Company feels that the Castromil site and the extended license
area surrounding the historic mine is, under current market conditions, an
excellent exploration target. 


Klondike Gold Corp. has a capable team of consulting Geologists in Portugal
where it operates through its wholly owned subsidiary, Klondike Gold Corp.
Portugal.


About Klondike Gold Corp.

Klondike Gold Corp. is a Canadian exploration company with offices in Vancouver,
British Columbia and Dawson City, Yukon. The Company is focused on the
development of its Yukon properties. In addition the Company holds a large
portfolio of gold and base metal properties in southeastern British Columbia.


Statements in this press release, other than purely historical information,
including statements relating to the Company's future plans and objectives or
expected results, may include forward-looking statements. Forward-looking
statements are based on numerous assumptions and are subject to all of the risks
and uncertainties inherent in resource exploration and development. As a result,
actual results may vary materially from those described in the forward-looking
statements. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Klondike Gold Corp.
Erich Rauguth
President & CEO
604-685-2222
604-685-3764 (FAX)
info@klondikegoldcorp.com
www.klondikegoldcorp.com

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