In the intervening years Mr. Phillips has worked for a number of companies as consultant, senior development geologist, chief geologist and mine manager. These companies include Kinross Gold Corporation, Bethlehem Resources (1996) Corp, Goldcorp Inc., Treminco Resources Ltd., Merit Mining Corp, Orphan Boy Resources, and Pacific Vangold Mines Ltd.

The Company is particularly excited about the extent of knowledge, experience and expertise Mr. Phillips brings in relation to the Silvana, Wonderful, Hinckley and other Company mines in the area, as well as the entire mill complex. Mr. Phillips joins a highly diverse and experienced team with regional exploration headed by Dr. Trygve Hoy and a mining and rehabilitation crew led by Mr. Leonard Palmer.

Klondike Silver looks with anticipation to Mr. Phillips building onto its production capabilities and enhancing mining opportunities at Sandon. The Company views this appointment as a significant step in its plan to become a major producer in the Silvery Slocan.

ABOUT KLONDIKE SILVER

Klondike Silver Corp. has assembled a quality portfolio of silver and silver-rich poly-metallic properties in historic mineral districts of North America, and is applying advanced exploration technologies to add value to these core assets. Klondike Silver is reviving the Gowganda and Elk Lake silver camps in Ontario, and the world-famous Klondike district of Yukon Territory. The Company has also recently optioned eight high-potential mineral concessions in under-explored mineral districts of Mexico.

Klondike Silver is a member of the Hughes Exploration Group of Companies and is led by a team with a stellar track record of discovery and development in Canada.

CONTACT INFORMATION

Corporate Inquiries: Kevin Hull or Alan Campbell (604)-685-2222; Email: info@klondikesilver.com AGORACOM Inv. Relations Email: KS@agoracom.com Website: http://www.agoracom.com/ir/KlondikeSilver

Visit Klondike Silver's web-site: www.klondikesilver.com to see Smartstox interviews with Company President, Richard Hughes.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Source: Klondike Silver Corp. (TSX-V: KS) (Pink Sheets: KLSVF) http://www.klondikesilver.com

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Finance Minister Dwight Duncan is launching his annual pre-budget consultations today in London, the first stop in a province-wide series that continues the open dialogue between the McGuinty government and the citizens of Ontario.

The consultations provide the opportunity for individuals, organizations, associations and other stakeholders to engage in a discussion with the Minister on ways to promote growth in Ontario's economy, in advance of the 2009 Budget.

QUOTES

"I look forward to hearing the views of my fellow Ontarians on what more the government can do during this period of global economic uncertainty to promote economic growth and job creation," said Duncan. "These consultations are a good example of how we can work together to continue delivering the services most important to Ontarians."

"Our five-point economic plan has helped prepare Ontario to weather the current challenges," Duncan said. "The McGuinty government has taken a prudent and balanced approach while maintaining the ability to respond quickly to changing circumstances."

    <<
    QUICK FACTS

    -  In addition to meeting with business and community leaders on an
       ongoing basis, further pre-budget consultations will be held in
       Sault Ste. Marie, Windsor, Ottawa, Toronto and Thunder Bay.

    -  New this year, the pre-budget consultations will include a pilot
       video conference session, in an effort to use technology to obtain
       additional input from citizens, while at the same time reducing
       travel expenditures and encouraging a greener Ontario.

    -  The pilot video conference will take place on November 3, 2008. The
       consultation in Sault Ste. Marie will be joined by the Sudbury
       session via video conference.

    -  There are many other ways for individuals to take part in the 2009
       Pre-Budget Consultations. Take the online poll
     (http://www.fin.gov.on.ca/english/consultations/prebud09/pbc_poll.html),
       participate in the e-consultations
       (http://www.fin.gov.on.ca/english/consultations/prebud09/) or send a
       submission by mail, e-mail or fax.

    LEARN MORE

    Watch videos (http://www.fin.gov.on.ca/english/consultations/prebud09/)
    of Minister Duncan talking about the 2009 pre-budget consultations.

    Read the 2008 Fall Economic Outlook and Fiscal Review
    (http://www.fin.gov.on.ca/english/budget/fallstatement/2008/)
    (or Fall Economic Statement), which updates the province's fiscal outlook
    as of the second quarter of the 2008/09 fiscal year.

    Find out more about the government's five-point economic plan
    (http://webx.newswire.ca/click/?id=c4617f2f911ffad).

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    >>

SOURCE: Ontario Ministry of Finance

SOURCE: ONTARIO MINISTRY OF FINANCE PRE-BUDGET CONSULTATION

Alicia Johnston, Minister's Office, (416) 325-3645; Sam Colalillo, Ministry of
Finance, (416) 325-1309