Klondike Gold Announces Receipt of Funds from Gold Royalty Payments and Warrants Exercise

VANCOUVER, BC / ACCESS Newswire / June 1, 2026 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTCQB:KDKGF) ("Klondike Gold" or the "Company") is pleased to report receipt of funds in the first quarter of YE2027 from exercise of warrants and stock options and receipt of gold royalty payments from Armstrong Mining Corp in respect of placer mining operations at the Montana Creek Placer Property¹ within the Company's 100%-owned Klondike District Project, located in the Dawson mining district of Yukon Territory, Canada.

Highlights:

• Received a cash payment of $15,581.31 in May representing royalty payment due from "clean up" of 2025 late season gold bearing heavy mineral concentrates processed in May 2026 from the Montana Creek Placer Mine¹.

• Received 39.9 raw ounces of (unrefined) flake gold from three royalty payments derived from gold recovered during May 2026 mining operations at the Montana Creek Placer Mine¹. The approximate weight received as physical credited to the Company's demand account is 26.3 oz refined gold after smelting, fees, applicable taxes and royalty charges.

• Received a total of $560,363.25 from the exercise of an aggregate of 3,595,755 warrants and stock options up to the end of May 2026.

"The Klondike Gold team recently completed a tour of the Montana Creek Placer Property facilities and mining site and the operational progress we saw there is remarkable. We are confident the 2026 season productivity projections are on track and the operation is running optimally. For me personally it was a very informative and impressive tour." commented Peter Tallman, President and CEO of Klondike Gold Corp. "We also appreciate our shareholders support with warrant exercises and the capital that this brings to the Company."

The Company intends to apply cash and proceeds from warrant and option exercises and any future sale of the received gold toward advancing the 2026 bedrock exploration and drilling program underway now³ designed to support an updated and expanded gold mineral resource estimate ("MRE")² and for general corporate purposes.

The Klondike District Project covers a 727 square kilometer district-scale land package encompassing the entirety of the historic Klondike Goldfields placer district where the Company has documented numerous bedrock gold showings and related structures associated with a major orogenic-style gold mineralized system.

QUALIFIED PERSON

The technical and scientific information contained within this news release has been reviewed and approved by Peter Tallman, P.Geo., President and CEO of Klondike Gold and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure of Mineral Projects. Detailed technical information, specifications, analytical information and procedures can be found on the Company's website.

About Klondike Gold Corp.

Klondike Gold Corp. is a Canadian exploration company focused on the advancement of its 100%-owned Klondike District Project in Yukon Territory, one of the world's most historically significant placer gold districts. The Company is focused on discovering and developing large-scale gold resources through systematic exploration and geological modeling. The Company also maintains a mining production royalty interest in the currently active Montana Creek Placer Property¹.

ON BEHALF OF KLONDIKE GOLD CORP.

"Peter Tallman"

Peter Tallman,
President and CEO

FOR FURTHER INFORMATION:
Telephone: (604) 609-6138
E-mail: info@klondikegoldcorp.com
Website: www.klondikegoldcorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking statements". When used in this document, the words "anticipated", "expect", "estimated", "forecast", "planned", and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management; however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. Klondike Gold does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.

Forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company's securities; fluctuations in commodity prices and changes in the Company's business plans. In making the forward looking statements in this news release, the Company has applied several material assumptions that the Company believes are reasonable, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. The Company seeks safe harbor.

For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedarplus.ca.

¹ Refer to the Company's News Release "Klondike Gold Receives $500,000 for Lease of Montana Creek Placer Property dated March 3, 2025 found on the Company's website at: https://www.klondikegoldcorp.com/klondike-gold-receives-500000-for-lease-of-montana-creek-placer-property.

² The Mineral Resource Estimate for the Klondike District Property was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent Qualified Person in accordance with the requirements of NI 43-101. The technical report supporting the Mineral Resource Estimate entitled "NI 43-101 Technical Report on the Klondike District Gold Project, Yukon Territory, Canada" has been filed on SEDAR+ at www.sedarplus.ca effective November 10, 2022. Refer to news release of December 16, 2022.

³ Refer to the Company's News Release "Klondike Gold Announces 2026 Diamond Drilling Program Underway to Update and Expand Gold Mineral Resources dated May 26, 2026 found on the Company's website at https://www.klondikegoldcorp.com/klondike-gold-announces-2026-diamond-drilling-program-underway-to-update-and-expand-gold-mineral-resources/ and filed on SEDAR+ at www.sedarplus.ca.

SOURCE: Klondike Gold Corp.