NEVADA’S GOLDEN

TRANSFORMATION

CORPORATE PRESENTATION

KDX:TSX; KLNDF:OTCQX

FEBRUARY 2014

FORWARD-LOOKING STATEMENTS

Forward-Looking Statements

This presentation may include certain statements that may be deemed “forward-looking statements." All statements in

this presentation or those made by Klondex management or representatives, other than statements of historical facts,

including the likelihood that bulk sampling will generate significant revenues and the possible results of future exploration

are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking

statements are based on reasonable assumptions, such statements are not guarantees of future performance and

actual results or developments may differ materially from those in the forward-looking statements. Factors that could

cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results,

inability to obtain necessary permits and regulatory approvals, changes in metals prices, currency fluctuations, changes

in the availability of funding for mineral exploration, unanticipated changes in key management personnel, unavailability

of necessary equipment and contractors, and general economic conditions. Mining is an inherently risky business.

There is no guarantee that the Company will be able to carry out their work programs or that the results of those work

programs will be successful. Accordingly, the actual results may differ materially from those projected in the forward-

looking statements. For more information on the Company and the risks and challenges of their businesses, investors

should review the Company filings available at www.sedar.com and www.klondexmines.com.

CAUTIONARY NOTE TO U.S. INVESTOR CONCERNING RESOURCES

This presentation uses the terms “Indicated and Inferred” resources as defined in accordance with National Instrument

43-101. While such terms are recognized and required by Canadian Securities laws, the United States Securities and

Exchange Commission does not recognize them. Under the United States standards, mineralization may not be

classified as a “reserve” unless the determination has been made that the mineralization could be economically and

legally produced or extracted at the time the reserve calculation is made. “Inferred Resources” have a great amount of

uncertainty as to their economic and legal feasibility and readers are cautioned not to assume that all or any part of the

inferred resources exists or is economically mineable.

2

LEADERSHIP TEAM WITH PROVEN TRACK RECORD

Paul Huet – President, CEO and Director

• 26+ years high-grade mining experience, particularly in narrow

vein gold mining in Nevada

Barry Dahl– Chief Financial Officer

• 26 years of accounting experience in mining, construction and

manufacturing. Served 4 yrs as CFO of Argonaut Gold during its

growth to a 100,000+ ounce per year producer.

Mike Doolin – General Manager

• 25+ years with extensive experience in metallurgy, design and

permitting of narrow vein mining projects

Dr. Shuai Chen – Chief Engineer

• 17-yrs designing projects, specializing in narrow vein u/g mine

design, planning and ground and cost controls in Nevada

John Marma – Chief Geologist

• 17-yrs experience developing exploration programs for

development and production of u/g narrow vein systems; 10

years at the Midas Mine, in Nevada

Sid Tolbert – Mine Superintendent

• 20+ years of mining experience with extensive knowledge in the

extraction of narrow, high-grade gold vein systems in Nevada

Lucy Downer – Environmental Manager

• 18 years of environmental experience and has been instrumental

in the success of several mining and environmental projects

across North America, primarily within Nevada

Bryan Ouellette - Safety and Projects Foreman

• 30+ years of mining experience across North America.

• Certified in Lean Six Sigma Black Belt process at Carlin

Alison Tullis – Manager, Investor Relations

• Nine years designing and managing IR programs for public

mining companies

Blair Schultz, B.Math, Chairman, K2 and Associates

• Over 11 years of experience evaluating M&A transactions in the mining space, is

a Vice President and Head of Special Situation Analytics, Portfolio Management

& Trading at K2 & Associates Investment Management Inc. in Toronto

Renaud Adams, P.Eng., Primero Mining Corp.

• Chief Operating Officer of Primero Mining, responsible for the operations and

organic growth of the company in addition to its operations in Mexico

• He previously held mining positions with major operating mines for IAMGOLD

Corporation and Breakwater Resources, among others

Rodney Cooper, P.Eng., Labrador Iron Mines

• 30 years in mining; broad experience in technical services, operations, project

management, investment evaluation and finance

Jamie Haggarty, CA, JELL Advisors

• Financial and operational executive with over 20 years of experience ranging

from strategic planning to M&A transactions to managing diverse businesses

day-to-day

William Matlack, B.Geo., Scarsdale Equities

• Specializes in metals and mining investment banking with Scarsdale Equities

LLC; has 14 years prior experience in metals and mining equities

Ritch J. Hall, Special Advisor to the Board

• Seasoned mining executive, specializing in building North and Central American

gold mining companies; led the growth of Northgate Minerals, Grayd Resource

and Metallica Resources, all prior to being acquired or merged to become major

mining companies.

DI

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WHY KLONDEX?

• The next gold producer in Nevada

• Definitive Agreement signed with

Newmont for transformative

transaction to acquire Newmont’s

Midas Mine and Mill,

expected to close in February

2014

• High-grade gold property in a premier

mining district

• Heart of the Nevada gold belt,

neighbours include:

Barrick’s:

Cortez (1,090k oz Au prod.

to Q3 2013)

Goldstrike (650k oz Au prod. to Q3 2013)

Bald Mountain (80k oz Au prod. to Q3 2013)

Newmont’s Midas and Mule Canyon

• Exploration potential on 93% of the underexplored

Fire Creek project

• Strong leadership team with a proven track record

• +180 yrs experience in Nevada building underground

narrow-vein mines (Newmont, Barrick, Kinross) 4

JERRITT CANYON

MILL

4

5

FIRE CREEK LOCATION AND

INFRASTRUCTURE

ADVANTAGE

N

500 ft 1000 ft

Portal

Surge

Ponds and

Water

Treatment

Plant

Office

buildings

and core shack

Vonnie

Vein

Joyce

Vein

FIRE CREEK –

DEVELOPMENT AND BULK SAMPLING

FIRE CREEK OVERVIEW

Location Lander County, NV

Deposit High-grade, epithermal vein system

Ownership 100% Klondex

Mining Method PEA to determine, likely a combo of

Cut and Fill, Long Hole, Shrinkage

LOM TBD from PEA

Current Mill Midas Mill (112 miles north)

Recoveries Expected to be 90% to >95%

RESOURCES (Au cut-off at 7.0 g/t)

Measured(1) 57,200 oz @ 237.7 g/t Au

Indicated(1) 238.700 oz @ 37.4 g/t Au

Inferred(1)(2) 421,400 oz @ 19.2 g/t Au

PRODUCTION COSTS

Est. Cash Costs TBD from PEA

OVERVIEW: FIRE CREEK

2014 PLAN

HIGH-GRADE EPITHERMAL GOLD DEPOSIT

LOCATED IN A PREMIER MINING DISTRICT

INFRASTRUCTURE IN PLACE

• PEA Expected Q1 2014

• Continuation of bulk sampling program

• Exploration and infill drilling to expand current

mineral resources on high quality targets, near

existing infrastructure

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Source: Technical Report (Amended) Fire Creek Exploration Project, by Practical Mining, filed November 14, 2013, and Management estimates

(1) Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal,

title, socio-political, marketing, or other relevant issues.

(2) The quantity and grade of reported inferred mineral resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred mineral resources as an

indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

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HIGH GOLD GRADE AND DEFINED CONTINUITY

Source: Technical Report Data, authored by Practical Mining, LLC. Effective date August 31, 2013.

See Klondex press releases dated September 16, 2013, and November 14, 2013 for further details; on SEDAR, or on the Klondex website.

- High-grade

resource estimate

- Additional drill

targets near the

ramp

Vonnie

Vein Joyce

Vein

Vonnie

Vein

Joyce

Vein

NI 43-101 Resource Estimate

September 2013

Gold

Cutoff

(g/t)

Category Short Tons Grade

(g/t) Gold (oz)

7.0 Meas & Ind 227,000 44.7 295,900

7.0 Inferred 683,000 19.2 421,400

Using ID3 methodology, wire frames on 0.5m constraints

Significant resource growth potential beyond

resource envelope

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FC-12-022S - Surface Vent Raise Geotech hole 3.62 oz/st Au over 5 ft

FC-13-120U – UG Hole 1) 0.83 oz/st Au over 3 ft

2) 0.43 oz/st Au over 7.2 ft 3) 2.08 oz/st Au over 1.8 ft

0.338 oz/st Au over 1 ft

N

100 ft

2 3

1

MB5

FC-11-064U – UG Hole 1.01 oz/st Au over 1 ft

0.27 oz/st Au over 1.3 ft

Rib sample 0.12 oz/st Au over 5 ft.

Rib sample 0.37 oz/st Au over 3 ft.

FC-11-067U – UG Hole 0.32 oz/st Au over 6.7 ft

FC-11-030S – Surf. Hole 0.22 oz/st Au over 10 ft, 0.20 oz/st Au over 10 ft

FC-04-025S – Surf. Hole 0.16 oz/st Au over 20 ft

FC-04-017S – Surf. Hole 1) 0.40 oz/st Au over 10 ft 0.33 oz/st Au over 10 ft 2) 0.74 oz/st Au over 10 ft 11.99 oz/st Au over 5 ft 0.38 oz/st Au over 10 ft

1 2

UNDERGROUND EXPLORATION AND INFILL DRILLING INFILL:

To better understand the Joyce and Vonnie veins, and stay ahead of

the bulk sampling EXPLORATION:

Joyce and Vonnie open at Depth, North, and

South, within 7% of the land package

Drill targets North, East, South and West:

• Project is 93% unexplored

• Follow-up on high-priority targets

FIRE CREEK PERMITS –

FULLY-PERMITTED FOR BULK SAMPLE ● Issued Permits

Easements to bring power on site: August 2013

BLM permit # N-56088 Amendment allowing NV Energy to connect to offsite substation: Dec 2012

Class II Air Quality Operating Permit #AP1041-2774 (State): Mar 2011 & July 2012

Water Pollution Control Permit #NEV2007104 (State): Mar 2011, Nov 2011 & Jun 2012

BLM Notice to Proceed (Fed): Sept 2010

● Future Permits

Rapid Infiltration Basin (RIB) Permit – initiated (Q1 2014)

Revised Plan of Operations (BLM) and Water Pollution Control Permit (State) – in process

NEPA (environmental) documentation to expand to full production – initiated (H1 2015)

Fire Creek Offices and Warehouses 9

PROPOSED ACQUISITION OF MIDAS

Proposed acquisition of the operating Midas Mine and Mill from Newmont

announced Dec. 2013

Expected close in February 2014

Highlights

Midas located 110 mi north of Fire Creek

Toll treated Fire Creek material from August – December

2013, recoveries >95%

Transformational acquisition adds a high-quality operating

mill, high-grade gold mine and substantial upside potential

Ability to leverage core management team’s experience at Midas

Substantial synergies via shared equipment, employees and enhanced

efficiencies

Milling facilities are all on private land

Acquisition Structure:

$55mm to Newmont

$28mm replaces reclamation bond

+5 mm warrants

Financed by:

Equity: C$42.6 mm (complete; in escrow)

Debt: C$25 mm (underway)

Franco-Nevada Gold Loan: US$35 mm (underway)

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MIDAS COMPLEX

MINE PRODUCTION, PROCESSING FACILITY

MIDAS MINE AND MILL COMPLEX OVERVIEW

Location Elko County, NV

Deposit High-grade, epithermal vein

system

Ownership 100% Newmont 100% Klondex

Mining Method Cut and Fill, Long Hole, Shrinkage

Milling Cap 1,200 tpd (target 500-800 tpd)

Processing Merrill Crowe (gravity and cyanide)

GOLD RESERVES

Proven 30,000 oz @ 6.6 g/t Au

Probable 20,000 oz @ 1.9 g/t Au

SILVER RESERVES

Proven 510,000 oz @ 105.2 g/t Ag

Probable 3,900,000 oz @ 333.6 g/t Ag

GOLD EQUIVALENT RESOURCES (inc. Reserves)

Indicated 170,013 oz @ 11.3 g/t AuEq

Inferred 112,766 oz @ 9.3 g/t AuEq

PEM 178,888 oz @ 9.3 g/t AuEq

MIV 86,383 oz @ 15.1 g/t AuEq

OVERVIEW: MIDAS MINE AND MILL COMPLEX

2014 PLAN

A PRODUCER OF GOLD AND SILVER SINCE 1998

MILL OPERATES AS TRADITIONAL MERRILL CROWE

PROCESSING CIRCUIT WITH HIGH GOLD AND

SILVER RECOVERIES

~US$30 MM WORTH OF EQUIPMENT AT MIDAS

THE BEST PLACE TO FIND GOLD IS NEAR EXISTING

GOLD MINES

• Klondex intends to run Midas Mill at ~50% capacity

or greater long term

• Klondex will explore options and opportunities to toll

mill ores and ore concentrate

Source: Newmont Annual Report 2012 and management analysis

(1) Mineral resources which are not mineral reserves do not have demonstrated economic viability. The

estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-

political, marketing, or other relevant issues.

(2) The quantity and grade of reported inferred mineral resources in this estimation are uncertain in nature

and there has been insufficient exploration to define these inferred mineral resources as an indicated or

measured mineral resource and it is uncertain if further exploration will result in upgrading them to an

indicated or measured mineral resource category.

11

MIDAS IS A HIGHLY COMPLIMENTARY ASSET

KLONDEX MIDAS

• Focused on establishing a high

grade gold project in Nevada

Midas has a long-history of high-grade gold production

Located in North-Central Nevada, within close proximity to mining

towns and Fire Creek (112 miles south)

Excellent infrastructure in place, situated on private land

Similar operation, narrow vein high-grade epithermal gold deposit

• Objective to target sustainable

revenues and cash flows in

2014 and beyond

Midas adds an operating mine to Klondex’s asset portfolio

Midas has the potential to extend the life of mine, with different

mining methods and continued exploration success

Tested Fire Creek ore, with recoveries >93%

• Secure long-term milling solution Midas Mill secures processing and enhances potential cash flows

Midas Mill, built 1998, is a “Cadillac” mill and is well-maintained

with capacity to process material from both operations and others

• Ability to leverage current

management team with the goal

to unlock significant value

Klondex’s core team positioned to unlock value in combined entity

− Several members of the senior management team previously

operated Midas

− Avg. 15 yrs+ experience operating in similar Nevada deposits

• Exploration upside remains Several near mine exploration targets have been identified

Best place to find gold, is near existing gold mines!

12

ROAD MAP

DELIVERING AND ACHIEVING RESULTS

2013

Q1 Q2 Q3 Q4

2014

Q1 Q2 Q3 Q4

2015

H1 H2

Drilling (2 drills) Infill and Exploration at Fire Creek

Prepare new resource at Fire Creek

Prepare Preliminary Economic Assessment at Fire Creek

Vent raise construction and commissioning

Power line installation and commissioning

Drifting underground

Water management (RIB)

Initiate Bulk Sample: up to 120,000t over three years

Revenue and cash flow from gold shipments

Proposed Midas Mine and Milling Facilities Acquisition

Pending completed EA, full production anticipated

Total Estimated Costs at Fire Creek $15.0

Total Cost to Acquire Midas $55m+$28m

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✔

13

14

KLONDEX CAPITALIZATION AND SPONSORSHIP

Symbol TSX: KDX OTCQX: KLNDF

52 Week High/Low C$1.78 - C$0.91

Average Volume (3 Mos) 179 k

Shares Issued and Out* 109 mm

Fully Diluted* 135 mm

Market Capitalization* C$194 mm

Enterprise Value* C$247 mm

Cash C$15 mm

Debt* C$62 mm

Well Positioned for Future Growth with Strong Partners

Ownership of FD Shares # (mm)

Management & Insiders 10.2

Paul Huet 1.7

Bill Matlack 1.7

Brendan Donohoe 1.1

Blair Schultz 1.0

Institutional: 84.3

K2 Principal Fund 18.1

Sun Valley Gold 15.3

US Global Investors 11.6

Glenn Pountney 7.2

Newmont Mining Corp 7.0

NGIC 6.9

Sentry Investments 6.4

Van Eck 5.0

Investors Group 3.9

PSP 3.0

Equity Research

GMP Securities, Oliver Turner

Mackie Research Capital, Barry Allan

MGI Securities, Marc Pais

MPartners, Derek Macpherson

PI Financial, Phil Ker

* Post transaction to acquire the Midas

Mine and Mill. US$35mm Gold Loan,

C$25mm debt, recent equity financing of

C$42.6mm

Ownership (%)

Mgmt/

Insiders

Institutional

Retail

38%

3%

(3%)

(6%)

(8%)

(10%)

(16%)

(19%)

(23%)

(25%)

(26%)

(38%)

(42%)

(48%)

(49%)

(50%)

(59%)

(60%)

Klondex

Brigus

Polyus

Robex

Nevsun

Alamos

Primero

Centamin

Beadell

Sulliden

Gold (NYMEX)

Petaquilla

Guyana Goldfields

Intermediate Producers

Senior Producers

Mid-Tier Producers

Junior Producers

Developers

15

RELATIVE PERFORMANCE –

KLONDEX OUTPERFORMS

Based on prices as of January 15, 2014 market close

Source: FactSet

Senior Producers: AngloGold Ashanti, Barrick, Gold Fields, Goldcorp, Kinross, Newcrest, Newmont

Intermediate Producers: African Barrick, Agnico-Eagle, Centerra, Eldorado, Harmony, IAMGOLD, New Gold, Randgold, Yamana

Mid-Tier Producers: Alacer, Alamos, Allied Nevada, Aura, AuRico, Golden Star, Jaguar, Lake Shore, SEMAFO

Junior Producers: Argonaut, B2Gold, Claude, Crocodile, Endeavour Mining, Gran Colombia, Kirkland Lake, Richmont, Rio Alto, San Gold, St Andrew, Teranga, Timmins

Developers: Atacama Pacific, Chesapeake, Colossus, Continental, Detour, Exeter, McEwen, NovaGold, Orezone, Pretium, Romarco, Rubicon, Torex

Klondex outperformed the broad peer gold group over the last 12 months T

op

Pe

rfo

rme

rs

Klondex holds significant additional

upside potential based on:

1. Near-term production and

revenues from bulk sample

2. Impressive high-grade

allows resource flexibility

and upside potential

3. Great mining friendly

location and access to

infrastructure

4. Funding in place

5. Dedicated and proven

management & Board

CONTACT INFORMATION

Klondex Mines Ltd.

Suite 600, 595 Howe Street

Vancouver, British Columbia

V6C 2T5

www.klondexmines.com

KDX:TSX KLNDF:OTCQX

Paul Huet

President & CEO

775-284-5757

investors@klondexmines.com

Alison Tullis

Manager, Investor Relations

647-233-4348

atullis@klondexmines.com

Fire Creek worker/contractor mine safety board

16