Precious Metals Review Identifies Klondex Mines Ltd. (KDX.v) As Significantly Undervalued in October Report That Discusses Significant Hi-Grade Gold Deposit in Nevada

Experts & major gold producers acknowledge a pattern that points to Klondex Mines Ltd.s Fire Creek property as potentially hosting the next significant hi-grade gold deposit in Nevada.

Seattle, WA (PRWEB) October 16, 2004 -- Precious Metals Review Co. (The Company") has issued a special mining review report which identifies Klondex Mines Ltd. (TSX-V:KDX) as significantly undervalued. The Companys financial journalist report contributed by Maxim Gold to PreciousMetalsReview.com may be viewed in its entirety at the Companys web site; at the following URL: http://preciousmetalsreview.com/pmroct04.pdf

Excerpt from report:
Klondexs 100% owned 2,155 acre property at Fire Creek in Ladner County, Nevada is located between the Pipeline and Cortez gold mines (Placer Dome (NYSE:PDG)) and the Mule Canyon gold mine (Newmont (NYSE:NEM)). Klondexs Fire Creek property possess many similar characteristics to that of the also nearby famed Ken Synder" mine which to date has produced nearly 7M oz of gold. Similar rock, grade, and trend gives credibility to the rumor that Klondexs Fire Creek property is an extremely attractive target for the product starved majors.

Recent drill results have revealed a pattern that points to Klondexs Fire Creek property as potentially hosting the next significant hi-grade gold deposit in the Carlin and Battle Mountain Trend region of Nevada.

Acquired by Klondex in 1975, the Fire Creek property has undergone several million dollars in exploration. A sizeable geological data-base and previous drill results from the 1990s show numerous gold occurrences at shallow depth as well as narrow gold vein systems. Deeper drilling targeting higher grade feeder systems earlier this year returned many hi-grade intercepts, including 2.4 opt over 5 feet and 1.34 opt over 5 feet. The current phase 2 drilling program began in August 2004. Results are expected to be released soon. If these even deeper holes show grade continuity, then it is our opinion that this will be the catalyst to significant developments, which will richly reward shareholders.

See the report in its entirety, along with terms of use at http://preciousmetalsreview.com/pmroct04.pdf.

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