The K2 Principal Fund L.P. Acquires Common Shares of Klondex Mines Ltd

TORONTO, April 3, 2012 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that it has acquired 6,503,384 common shares and 386,400 common share purchase warrants (the "Warrants") to purchase up to 386,400 common shares of Klondex Mines Ltd. ("KDX") at an exercise price of $3.50 per share. The Warrants expire on November 29^th, 2013. As a result of the acquisition of such Shares and Warrants and assuming the exercise of the Warrants in full, the Partnership would own 6,889,784 common shares, representing approximately 14.69% of the issued and outstanding common shares of Klondex Mines Ltd. (the "Common Shares").

K2 acquired the securities for investment purposes only and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over, or exercise its current rights to acquire, common shares or other securities of KDX through market transactions, private agreements or otherwise.

Ben Shapiro 
The K2 Principal Fund L.P.
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