Further to the press release of Klondex Mines Ltd. (TSX: KDX) (OTCQX: KLNDF) (“Klondex”, or the “Company”) dated November 2, 2012 with respect to, among other things, the brokered private placement financing (the “Equity Offering”) of non-transferable subscription receipts of the Company (the “Subscription Receipts”), the Company confirms that K2 & Associates Investment Management Inc., a significant shareholder of the Company, will subscribe for 2,390,588 Subscription Receipts under the Equity Offering.