NK

New Klondike Exploration Ltd. (TSX VENTURE:NK) ("New Klondike" or the "Company")
is pleased to announce that it has entered into an option agreement to purchase
a 100% interest in a strategic mining claim in the Kawashegamuk Lake Area, near
Katisha Lake, contiguous to the western boundary of the Company's Goldstorm
Project. The claim (the "Katisha Lake Claim") is jointly owned by Alexander
Glatz and Ivar Joseph Riives (the "Optionors") of Dryden, Ontario. The
transaction forms part of the Company's continuing land acquisition strategy for
the Goldstorm Project area.


The Katisha Lake Claim consists of 9 claim units covering an area of 144
hectares. The claim is host to at least eight known gold prospects, as
documented in Ontario Geological Survey data files. During the mid-1980s, Esso
Minerals Limited ("Esso") carried out an exploration program on a property that
included the Katisha Lake Claim. That work program included shallow drill
testing of five of these prospects.


Gold mineralization at Katisha Lake is hosted by silicified zones and quartz
veining developed within sheared, sericitized and pyritized zones ranging from 1
to 20 metres in width. These zones have been traced for lengths ranging from 50
to 300 metres. The zones are hosted within layered gabbroic sills that intrude
Archean aged mafic to felsic volcanic rocks. All of these rocks are
unconformably overlain by a band of Timiskaming-type sediments immediately to
the north of the known gold (Au) prospects. Historic sampling from quartz
veining and silicified zones within the host structures has returned gold values
ranging from 2.06 to 18.6 grams per tonne (g/t). The results from the 1985 and
1987 Esso drilling programs are only partially available. The best assay result
from the available data was a 1.55 metre intersection that assayed 8.57 g/t Au.
The assay results and other data from the Katisha Lake Claim are historic in
nature and have not been verified by the Qualified Person (identified below). A
work program that will include re-sampling of the surface exposures of the known
Au prospects is currently being planned.


Michael Coulter, President of New Klondike said, "We are pleased to have added
this important property to the Goldstorm Project. The Company believes that the
Katisha Lake Claim is highly representative of one of our five key exploration
target areas identified in our geological model for the Goldstorm Project. As
discussed in the technical report filed by the Company on January 29, 2013, the
unconformity between the Timiskaming-type sedimentary rocks and the underlying
volcanic rocks have excellent potential to host economic gold deposits. The
property has good access as it is traversed by a major forestry road and is
expected to provide near-term drill targets for the Company." 


Option Terms

The Optionors have granted New Klondike the right and option (the "Option") to
acquire a one hundred percent (100%) interest in the Katisha Lake Claim, over
the four-year term of the Option, by: 




--  making cumulative cash payments of $150,000 ($20,000 (paid) on signing
    and subsequent payments on the first, second, third and fourth
    anniversary dates of the agreement of $20,000, $30,000, $30,000 and
    $50,000, subject to the Company's right to make up to fifty percent
    (50%) of the payments due on the second, third and fourth anniversary
    dates in common shares; 
--  making minimum annual exploration expenditures of $5,000 during the term
    of the Option; 
--  granting the Optionors a two percent (2%) net smelter royalty upon
    exercise of the Option, subject to the Company's right to purchase one
    percent (1%) of the net smelter royalty at any time for $250,000,
    payable in cash or common shares; and 
--  making annual advance royalty payments of $2,500 to each Optionor
    commencing on February 15, 2017, to a maximum cumulative total of
    $25,000, subject to the Company's right to prepay this amount at any
    time in cash or common shares. 



In the event that the Company elects to satisfy any of the future payments
described above by issuing its common shares, the number of shares to be issued
will be determined by the 30-day volume-weighted average price of the Company's
common shares on the TSX Venture Exchange at the time of issue, subject to a
minimum price of $0.10. Any shares issued will be subject to four-month
statutory hold period.


An existing one percent (1%) net smelter return and/or net sales return royalty
on the Katisha Lake Claim, payable to Ontario Exploration Corporation, remains
the responsibility of the Optionors, and would be paid out of any royalty
payments to which they are entitled, and not by New Klondike.


Qualified Person

Mr. Seymour M. Sears, B.A., B.Sc., and P.Geo., a director of the Company, has
reviewed and approved the technical content of this press release.


About New Klondike

New Klondike is a mineral exploration and development company focused on the
acquisition and development of base and precious metal deposits on the Goldstorm
Project and its other exploration properties in Ontario. The Company presently
has 17,342,845 common shares issued. For further information about New Klondike
please visit our website www.newklondike.com. 


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 Company's expected exploration plans and strategies, 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 of the
Company to exercise the Option, the failure of the Company to execute its
proposed exploration plans and strategies as indicated herein and general
business and economic uncertainties. 


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

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