Klondike Gold Appoints Chairman and Changes Management

Klondike Gold Appoints Chairman and Changes Management

Vancouver, British Columbia CANADA, November 04, 2011 /FSC/ - Klondike Gold Corp.  (KG - TSX Venture), is pleased to announce the appointment of Erich Rauguth to the positions of Director, President and CEO.   Richard W. Hughes who has served the Company well for over 25 years has moved from President/CEO to the position of Chairman of the Board where he will continue to support the Company with his network of resource investors.

In conjunction with these changes Darcy Hughes has resigned as Director and the vacancy has been filled with the appointment of Manfred Peschke.

Erich Rauguth has lived and worked in the Klondike Gold Fields for over 40 years and is intimately familiar with the Yukon terrain and climate. He has over 35 years of "hands on" exploration and mining experience in North, Central and South America. Over the last 27 years Erich held senior consulting and management positions in several mineral resource companies and is well acquainted with all aspects of the domestic and international mining industry.

Manfred Peschke has lived for more than 45 years in the Yukon where he has worked in senior positions in finance and accounting with mining and service companies.  He has operated his own management consulting business since 1979 and served as Comptroller for the Northern Commercial Companies Caterpillar Dealership (later Finning Tractor).  In the 1980's he also served as Managing Director for Cogasa Mining Corporation, at that time the largest producing placer mine in the Yukon, and as Director of Carson Gold Corp. (VSE) (later Diamond Fields) during the time when the Company moved to South America.  Mr Peschke served as President and Chairman of Infinito Gold, formally Vannessa Ventures LTD. (TSX), where he is still a Director.

These changes of personnel reflect Klondike Gold Corp.'s objective of increasing its involvement in developing the Eldorado/Bonanza Creek area; home of the "discovery claims" which resulted in the world famous Klondike Gold Rush of 1898.

ABOUT KLONDIKE GOLD CORP.   Klondike Gold is a Canadian Junior exploration company with a long term commitment to the development of the Klondike Gold Fields.  It is also actively exploring a number of gold properties in SE British Columbia including some past producers and properties with visual gold showings.

For further information contact:
Alan Campbell, CFO
Hughes Exploration Group
Phone: (604) 685-2222
Email: info@klondikegoldcorp.com  

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

The statements made in this Press 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.


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Source: Klondike Gold Corp. (KG - TSX-V) http://www.klondikegoldcorp.com
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