GoldMinerPulse Report on Klondex Mines Ltd.: (NI) 43-101 Metal Valuation Report

Klondex Mines Ltd. (KDX)

Company Web Site: www.klondexmines.com
This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2009-03-30. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-09-02.
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GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-09-02
Project/Deposit CC MVpSh PP% MI% I% Gold
    Fire Creek Gold US $113.88 0 66% 34% 3.18 M oz

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / Metal Gold
    Metal Totals 3.18 M oz
    Metal Prices in US$ (from 2010-09-02) $1,251.30 per oz
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below) $113.88
    Percentage of Total Metal Value 100.00%
    PP% | MI% | I% 0 | 66% | 34%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
    Metal Value per Share (MVpSh)    US$113.88
    Average Ore Value per Tonne    US$173.39
    Metal Value Leverage (MVL)    74.06
    Market Capitalization as % of Metal Value    1.4%
    Recent Stock Price    C$1.62   (TSX/TSXV close on 2010-09-02.)
Conversion rate used: 1 Cnd$ = 0.949244 US$ )
    Fully Diluted Share Count    34.92 M    ( Klondex Reports Proceeds of $2.0 Million from Warrant/Option Exercises, Announces Resignation of John Pollock From Klondex's Board and Extends Purchase Option for Fire Creek Land, Press Release, September 16, 2009. )
    PP% | MI% | I%    0 | 66% | 34%
Gold Metrics-- all Projects/Deposits
    Average Gold Ore Grade    4.31 g/t
    Market Capitalization
    per oz of Gold In Ground    $16.90   US$  |   17.80   C$
    Gold Eq Oz Estimate    3.18 M oz   ( 3.18 M oz are in ground)
    Market Capitalization
    per oz of Gold Equilavent    $16.90   US$  |   17.80   C$

See terms for more about GoldMinerPulse metrics.
GoldMinerPulse Coverage Status:
GoldMinerPulse coverage of Klondex Mines Ltd. is complete pending a final internal review.

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Gold
Fire Creek Gold	US	$113.88	0	66%	34%	3.18 M oz

GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / Metal	Gold
Metal Totals	3.18 M oz
Metal Prices in US$ (from 2010-09-02)	$1,251.30 per oz
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)	$113.88
Percentage of Total Metal Value	100.00%
PP% \| MI% \| I%	0 \| 66% \| 34%

GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
Metal Value per Share (MVpSh)	US$113.88
Average Ore Value per Tonne	US$173.39
Metal Value Leverage (MVL)	74.06
Market Capitalization as % of Metal Value	1.4%
Recent Stock Price	C$1.62 (TSX/TSXV close on 2010-09-02.) Conversion rate used: 1 Cnd$ = 0.949244 US$ )
Fully Diluted Share Count	34.92 M ( Klondex Reports Proceeds of $2.0 Million from Warrant/Option Exercises, Announces Resignation of John Pollock From Klondex's Board and Extends Purchase Option for Fire Creek Land, Press Release, September 16, 2009. )
PP% \| MI% \| I%	0 \| 66% \| 34%
Gold Metrics-- all Projects/Deposits
Average Gold Ore Grade	4.31 g/t
Market Capitalization per oz of Gold In Ground	$16.90 US$ \| 17.80 C$
Gold Eq Oz Estimate	3.18 M oz ( 3.18 M oz are in ground)
Market Capitalization per oz of Gold Equilavent	$16.90 US$ \| 17.80 C$

See terms for more about GoldMinerPulse metrics.

Fire Creek Gold - ^top^

(NI) 43-101 Report:

Title: Updated Report on the Fire Creek Gold Property Lander Co., Nevada
Date: 2009-03-30 (127 pages)

Project Location: Nevada, USA / Mining Region: Northern Nevada Rift (NNR)

Map View: View project on a Google Map.

Most Optimistic Resource Estimates (MORE):

•Indicated

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $75.63 2.11 M oz 4.670 g/t 14.06 M t
Estimate notes: See Table 3 Resource Summary on p. 35 of 127 in the (NI) 43-101 dated March 2009.
Gold Cutoff 2.00 gpt

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$75.63	2.11 M oz	4.670 g/t	14.06 M t
Estimate notes: See Table 3 Resource Summary on p. 35 of 127 in the (NI) 43-101 dated March 2009. Gold Cutoff 2.00 gpt

•Inferred

Metal MVpSh Contained Metal Quantity Ore Grade Ore Quantity
Gold $38.25 1.07 M oz 3.740 g/t 8.88 M t
Estimate notes: See notes for indicated above.
Gold cutoff 2 gpt.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$38.25	1.07 M oz	3.740 g/t	8.88 M t
Estimate notes: See notes for indicated above. Gold cutoff 2 gpt.