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KLONDEX MINES LTD.!CORPORATE PRESENTATION !

March 2013"

FIRE CREEK: Poised for Growth "in the Heart of Nevada, Gold "Country"

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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 many 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."

KLONDEX: GOLD EXPLORATION AND DEVELOPMENT"

●  NEW operations-focused management team"●  FULLY-FUNDED into the bulk sample"●  Significant infrastructure onsite and in region"●  Huge exploration potential (11,200 acres/

17.5 sq mi of fee based and claim land, in Lander County, Nevada)"

●  Permitting substantially in place ""

Fire Creek!

Re-logging core" Updated Resource" PEA"

Vent-raise Access"

Final Milling Agreement"

Power-Line Connect"

BEGIN! FIRE

CREEK BULK !

SAMPLE in Q3 2013!

Critical Path to Cash Flows:

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MANAGEMENT: OPERATIONS-FOCUSED"

Paul Huet – President, CEO and Director!●  25 years high-grade mining experience, particularly in narrow vein gold mining in Nevada"●  Led team taking Hollister Mine to 80k-100k gold equivalent oz/year; Mine Manager of Newmont’s Midas Mine; COO at Premier Gold"●  Extensive experience/knowledge in Mine Operations, Engineering, Geology, Exploration, Permitting and Safety"

Larry Phillips – Chairman of the Board (effective April 1, 2013)!●  IAMGOLD co-founder, EVP and General Counsel; built company into one of the world’s largest gold mining companies"●  Former Director of The World Gold Council; was Managing Partner of Toronto-based law firm specializing in corporate commercial law"●  Currently President of Corplex Management Services, Toronto, international business and governmental affairs advisory services""

Jorge Avelino – Chief Financial Officer!●  25+ years of accounting and financial management experience across range of industries and public companies"●  Public resource company experience since 1986"

Mike Doolin – General Manager!●  25-year veteran with extensive experience in design and permitting of mining projects"●  Substantial experience in milling, metallurgy and assay operation; successfully managed large and small teams on multiple projects"●  Most recently served with Great Basin Gold as Esmeralda Mill Manager"

Steve McMillin – Chief Geologist!●  25 years experience including grass-roots, near-mine exploration and underground production"●  Previously with US Steel, Newmont Exploration Ltd., Anglo Gold Jerritt Canyon, Queenstake Resources, Midway Gold"

"Sid Tolbert – Mine Superintendent!

●  20 years of mining experience with extensive knowledge in the extraction of narrow, high-grade gold vein systems in Nevada"●  14 years with Newmont, including Mine Superintendent and Foreman at the Midas Mine and its Vista project at Twin Creeks"●  Extensive knowledge and understanding of underground mining methods, ground conditions, budgets and dilution management"

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FIRE CREEK – LOCATION & EXCELLENT INFRASTRUCTURE"

●  Strategically situated at the heart of the Nevada gold trend"§  At the intersection of Northern Nevada Rift & Battle

Mountain Trend"§  Ken Snyder (Midas) and Hollister Mines, and Fire Creek

deposit"§  Narrow vein epithermal gold deposits"

●  Accessible via federal and state roads"●  Several regional mills "●  Substantial mining infrastructure on site and in region"●  Favorable regulatory environment"

Fire Creek Portal

FIRE CREEK – INITIATING THE BULK SAMPLE IN 2013"

●  Infrastructure and logistics onsite!§  5000 ft+ of underground workings (ramp, decline

and cross cuts)"§  Power substation complete, connection to Nevada

power imminent "§  All new equipment and buildings onsite"

●  Tremendous exploration growth potential:"§  Gold resources on 7% of the land package; east of

drift"§  East of drift: Underground in-fill drilling to define

continuity"Ø  32,000 ft u/g infill drill program - 2013"

§  West of drift: mineralization discovered by excavating the vent raise access"

●  Permits in place for small-scale production!●  Bulk Sample to begin in Q3 2013!

§  Milling agreement under negotiation"§  Permitted for 120,000 tons"

●  Begin environmental assessment and baseline studies in 2013!

N

500 ft 1000 ft

Vent raise access Visible gold found

Portal

5400 cross cut 5730 cross cut

Water treatment

ponds Office buildings and core shack

         

Past

drilling

and 2011

resource

estimate

13 opt Au intercept

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FIRE CREEK – RESOURCE MODEL"

●  Current resource of 1.6M ozs Indicated and 458k ozs Inferred, dated May 2011"

●  Updated resource estimate targeted mid-2013, by Micon International"§  240,000 ft of core re-logging & geology review"§  May lead to similar amount of ounces, better

grade, and fewer tonnes "

● Source: Technical Report Data as of May 21, 2011; Released September 12, 2011 Note: *At variable Au prices we can selectively mine areas and remain economic"

Klondex Mines Ltd.!NI 43-101 Compliant Resource!

Gold Cutoff"(g/t)"

"Category"

Metric Tonnes"

Grade"(g/t)"

Gold"(0z)"

4.0" Indicated" 5,176,050" 9.9" 1,647,052"

4.0" Inferred" 1,732,810" 8.2" 458,084"

7.0! Indicated! 2,145,283! 17.6! 1,215,019!

7.0! Inferred! 555,043! 12.5! 223,794!

Underexplored on strike and at depth

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EXPLORATION: MAIN ZONE CONTINUITY, WEST ZONE DISCOVERY"

Main Zone (east of drift): A-Vein shows increase of width and grade from 5400 drift to 5370 drift!●  496.7 g/t (14.5 oz/ton) gold over 1.82m (6ft) (press release: Jan. 2, 2013)"●  True width at 5370-ACC crosscut estimated at 1.7m (5.5ft)"West Zone: discovered while excavating for vent raise access!●  5ft intercept at 528ft – 123.9 g/t Au "●  Found approximately 400ft west of decline"●  Visible gold found in drill hole & blast hole"

1cm

Recent Discovery!

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2013 UNDERGROUND IN-FILL DRILLING PROGRAM"

" Underground infill drill program"●  16 easterly drill fans, 3 - 4 holes per fan"●  ~ 9,754m (32,000 ft) of drilling"●  Drilling on 23m (75ft) spacing"●  Prior surface was on drilling on 50m (164ft) spacing"

Will be included in the resource due mid-2013!

● Heavy red lines: Phase 1 u/g drill program"

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FIRE CREEK BULK SAMPLE PERMITS"

●  Issued Permits!§  BLM permit # N-56088 Amendment allowing NV Energy to connect to offsite substation: 12/12"§  Class II Air Quality Operating Permit #AP1041-2774 (State): 3/17/11 & 7/3/12"§  Water Pollution Control Permit #NEV2007104 (State): 3/1/11, 11/7/11 & 6/20/12"§  BLM Notice to Proceed (Fed): 9/29/10 "§  NDEP application for 6-month temporary discharge permit submitted 1/15/13"

Ø Addresses water until Rapid Infiltration Basin (RIB) completed"●  Future Permits!

§  RIB Permit – in process"Ø Geotechnical work begun to complete final RIB design"

§  Easements to bring power on site – in process"§  Revised Plan of Operations (BLM) and Water Pollution Control Permit (State) – in process"§  EA to expand project to full production"

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KLONDEX ROAD MAP"

Cost Est.!US $M! 2012! 2013! 2014!

Q3" Q4" Q1" Q2" Q3" Q4" Q1" Q2" Q3" Q4"

Strengthen Board! -"

New CEO and Operations Team" -"

Funding ($23M Equity, $7M Debt)" -"

Infill drilling – underground! $ 2.9"

Mine infrastructure! $ 1.0"

Examine, re-log core, pictures and metallurgy! $ 1.0"

Prepare new resource! $ 0.3"

Prepare PEA" $ 0.3"

Vent raise construction! $ 1.4"

Milling agreement! -"

Power line installation! $ 1.3"

Remaining drifting underground! $ 3.2"

Temporary Discharge Permit" -"

Water management (RIB)! $ 0.8"

Full scale Production Permit - EA! $ 0.5"

Initiate Bulk Sample" -"

Total Estimated Costs" $12.7"

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ATTRACTIVE VALUATION VS. JUNIOR GOLD PEERS"

* based on 1.6M Indicated gold oz; Excludes 0.4M Inferred oz."

Klondex sells at a significant discount to its peer group on an EV/resource basis, yet Klondex has:""§  strong management & Board"§  funding in place"§  great location"§  impressive grade"§  significant resource potential"§  permitting largely in place"§  direct site grid power imminent"§  water management system underway"§  access to mills"§  near-term production"

EV / Total Resources ($/oz Au)!

$185.92 $185.72

$56.72

$37.52 $32.93 $32.67

$17.16

$0.00

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

$160.00

$180.00

$200.00

RMX CNL VG DNA ATN KDX PVG

EV/ T

otal

Res

ource

s (US

$/oz A

u)

$46.89*

$86 - Peer Average excluding KDX

KDX SHARE PRICE PERFORMANCE VS. PEERS"

3-mo Average Trading Volume: 36,400"

13 Source: Morningstar.com!

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KLONDEX SPONSORSHIP"

●  Klondex’s top shareholders include leading resource investors and substantial management ownership."

* Includes shares, warrants, options"

Top Shareholders! Coverage!

Equity Research! Analyst!

Fraser Mackenzie" Sasha Bukacheva"

Mackie Research Capital" Barry Allan"

MGI Securities" Marc Pais"

GMP Securities" George Albino"

Churchill Research" Mike Churchill"

Gold Energy & Tech Stocks" Jay Taylor"

The Mining Speculator" Greg McCoach"

Ownership*! % FD!Outstanding!

K2 & Associates" 11.5M" 13.5%"

Glenn Pountney" 7.5M" 8.8%"

William Solloway" 3.8M" 4.4%"

U.S. Global Investors" 3.4M" 4.0%"

William Matlack, Director" 1.4M" 1.7%"

Sprott Asset Management" 1.3M" 1.5%"

Paul Huet, CEO" 1.1M" 1.3%"

Brendan Donohoe" 1.1M" 1.3%"

LDIC" 0.6M" 0.8%"

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KLONDEX CAPITALIZATION"

As of January 23, 2013"

Symbol! TSX: KDX OTCQX: KLNDF!

Share Price! C$1.12"

52 Week Range! C$1.07 to C$2.44"

Average Volume (3M) ! 38K"

Shares Issued and Out! 64.4M"

Fully Diluted! 85.3M"

Market Cap! C$72M"

Enterprise Value! C$67M"

Cash! C$14M"

Debt:"Jones Gable – Short Term"

Long-Term – due June 2015"

"C$1.58M"C$7.00M"

View of Fire Creek Assay Bags, looking east, Crescent Valley in distance"

CONTACT INFORMATION"

!!

!

Klondex Mines Ltd.!Suite 600, 595 Howe Street"Vancouver, British Columbia"V6C 2T5"www.klondexmines.com!!Paul Huet, President & CEO"807-939-2841"investors@klondexmines.com""Alison Tullis, Manager, IR"647-233-4348"atullis@klondexmines.com"!Investors & Media:!David Collins, Toni Trigiani"Catalyst Global LLC"212-924-9800"KDX@catalyst-ir.com" ""

View of Fire Creek Operations Looking South!

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