New Klondike Extends Closing of Private Placement Offering

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. 


New Klondike Exploration Ltd. (TSX VENTURE:NK) ("New Klondike" or the "Company")
confirms today that it is extending the closing of its proposed private
placement units offering (the "Offering"), which was announced on October 8,
2013, until December 13, 2013. Details and terms of the Offering are described
below. Proceeds from the Offering will be used to fund a work program consisting
of detailed geological mapping and systematic rock sampling of the Katisha Lake
gold zones on the Company's Goldstorm Project near Dryden, Ontario, including a
shallow drilling program to follow up encouraging gold assays received from
reconnaissance scale surface sampling results disclosed in New Klondike's press
release on September 25, 2013.


Private Placement Offering

The non-brokered private placement Offering of units to qualified investors
consists of up to 7,000,000 units of securities of the Company (each, a "Unit")
at a price of $0.05 per Unit, for aggregate gross proceeds of up to $350,000.
4,000,000 Units are being offered on a flow-through basis (each, a "Flow-Through
Unit") and 3,000,000 Units on a non-flow-through basis (each, a
"Non-Flow-Through Unit"), or in such proportion and aggregate issue size as the
Company may determine. 


Each Flow-Through Unit consists of one flow-through common share (each, a
"Flow-Through Common Share") and one-half of one flow-through common share
purchase warrant (each whole flow-through common share purchase warrant, a "F/T
Warrant"). Each F/T Warrant will entitle the holder to acquire one additional
Flow-Through Common Share at a price of $0.08 for a period of 12 months from the
Closing Date and thereafter at a price of $0.12 for the succeeding 12 months and
expires 24 months from the Closing Date.


Each Non-Flow-Through Unit consists of one common share (each, a "Common Share")
and one common share purchase warrant (each, a "Warrant"). Each Warrant will
entitle the holder to acquire one additional Common Share at a price of $0.08
for a period of 12 months from the date of closing of the Offering and
thereafter at a price of $0.12 for the succeeding 12 months and expiring 24
months from the date of closing of the Offering.


The Offering is subject to receipt of all regulatory or other approvals that may
be necessary in order to complete the transactions contemplated therein. The
Company may close the Offering in tranches. All securities issued pursuant to
the Offering will be subject to a four-month statutory hold period.


Proceeds of the Offering will be used to fund the surface exploration and
drilling program on the Goldstorm Project described above, for property
maintenance costs and for general corporate purposes.


The Company will pay a finder's fee to certain eligible persons (each, a
"Finder") for subscriptions to the Offering completed by qualified investors who
have been introduced by such Finders. The Company will pay a cash finder's fee
equal to, in the aggregate, 8% of the gross proceeds of any Units acquired by
investors introduced to the Company by such Finders and will issue to such
Finders, warrants (each, a "Finder's Warrant") equal to 8% of the aggregate
number of Units sold under the Offering by such Finder. Each Finder's Warrant
will entitle the holder thereof to purchase one Common Share at a price of $0.05
for a period of 12 months from the date of closing of the Offering.


This news release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.


Goldstorm Project

The Goldstorm Project claims cover a large area, in excess of 230 square
kilometres, within the southeastern part of the Eagle-Wabigoon-Manitou Lakes
Greenstone Belt. Five regional scale structures and associated gold
mineralization have been identified within or passing through the project
boundaries. These include more than 45 kilometres of major fault zones and a 12
to 15 kilometre long band of Timiskaming-type sedimentary rocks that rest
unconformably on mafic volcanic and ultramafic to felsic intrusive rocks. Maps
and figures depicting the location and geology of the Goldstorm Project have
been compiled in a presentation titled 'Goldstorm Project-Northwestern Ontario'
available on the Company's website. 


About New Klondike

New Klondike is an Ontario focused mineral exploration and development company
with a primary objective of exploring for and developing base and precious metal
deposits on its Goldstorm Project. The Company presently has 17,342,845 common
shares issued and outstanding. 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this press release.


Forward-Looking Information

This news release contains certain "forward-looking information". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will or
may occur in the future including, without limitation, statements relating to
the Offering and in particular, the expected closing date of the Offering and
the Company's expected use of the proceeds to be raised in the Offering, are
forward-looking statements. These forward-looking statements reflect the current
expectations or beliefs of the Company based on information currently available
to the Company. Forward-looking statements are subject to a number of
significant risks and uncertainties and other factors that may cause the actual
results of the Company to differ materially from those discussed in the
forward-looking statements, and even if such actual results are realized or
substantially realized, there can be no assurance that they will have the
expected consequences to, or effects on the Company. Factors that could cause
actual results or events to differ materially from current expectations include,
but are not limited to, the failure to close the Offering, if at all, in a
timely manner.


Any forward-looking statement speaks only as at the date on which it is made
and, except as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements are not
guarantees of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
New Klondike Exploration Ltd.
Michael Coulter
President
416-368-3332
info@newklondike.com
www.newklondike.com
New Klondike Exploration Ltd. (TSXV:NK)
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