IAMGOLD Co-Founder, Larry Phillips, Named Chairman of Nevada Gold Explorer, Klondex Mines

ELKO, NV and VANCOUVER, BC--(Marketwire - Feb 25, 2013) - Klondex Mines Ltd. (TSX: KDX) (OTCQX: KLNDF), a Nevada gold mining and exploration company, is pleased to announce the appointment of veteran gold mining executive, Larry E. Phillips, as Chairman of the Board effective April 1, 2013. Mr. Phillips was a co-founder and Executive Vice President, Corporate Affairs, and General Counsel of IAMGOLD Corporation, a leading mid-tier gold producer with five operating gold mines.

Mr. Phillips will assume the Klondex Chairmanship from Blair Schultz who served on an interim basis since July 2012 and will remain as a Director. Investment executives Paul Crilly and Ben Shapiro have agreed to tender their resignations from the Klondex Board effective February 28, 2013 to facilitate the appointment of Mr. Phillips and one additional mining industry veteran still to be named. This appointment demonstrates the continuing commitment to enhance Klondex's board with mining professionals possessing strategic planning, management, financial and technical expertise.

Klondex President and CEO, Paul Huet, said: "Larry's significant gold mining experience and achievements make his decision to join us an important step forward for Klondex. His experience in acquiring, developing and bringing gold mines into full-scale production should prove invaluable as we evolve Klondex from exploration to initial production and beyond. I also look forward to his mentorship in my role as CEO.

"I wish to acknowledge the contributions of Paul Crilly and Ben Shapiro who have provided substantial support and direction to the Board. They played a critical role in bringing Klondex to this current stage and in positioning us for success. I also thank Blair Schultz for his leadership as Chairman and welcome his continued contributions to the Board."

Mr. Phillips commented: "I am very happy to be joining Klondex with such a great team in place and a superior project as Fire Creek. I look forward to working with Paul and his team and am confident that together we'll build a very successful company."

Mr. Phillips was one of the four founders of IAMGOLD Corporation, an international gold mining, exploration and development company. For over 20 years Larry directed all international investments, joint ventures and government relationships, helping build the company into one of the largest gold mining companies in the world, trading on the TSX and NYSE. He took early retirement in June 2011 as part of a broader corporate succession plan. While at IAMGOLD Mr. Phillips served as a Director of The World Gold Council. Prior to that, he was the managing partner of a Toronto-based law firm specializing in corporate commercial law.

Currently Mr. Phillips serves as President of Corplex Management Services in Toronto, providing advisory services in international business and governmental affairs to private and public companies. He is an Executive in Residence and a part-time lecturer at Queens University School of Business, and is a Director and Chair of the Governance Committees for Gowest Gold and Compass Gold, and Chairman and CEO of Niagara Ventures Corporation.

About Klondex Mines Ltd. (www.klondexmines.com):
Klondex Mines is focused on the exploration and development of its Fire Creek gold deposit in North Central Nevada. Fire Creek is a compelling gold mining prospect located in a region of prolific gold production that is near power, transportation, mining infrastructure and several milling facilities. As of February 22, 2013 Klondex had approximately 64.4 million shares issued and outstanding and 84.9 million shares on a diluted basis.