Kirkland Lake Gold Inc.

Kirkland Lake Gold Inc.

August 18, 2009 02:00 ET

KL Gold Reports Record Q1 Gold Sales of 21,014; New Paste Fill Hole 60% Completed

KIRKLAND LAKE, ONTARIO--(Marketwire - Aug. 18, 2009) - Kirkland Lake Gold Inc. (the "Company") (TSX:KGI)(AIM:KGI), an operating and exploration gold mining company located in Ontario, Canada, is pleased to report its gold sales and production performance for fiscal Q1, 2010, ending July 31, 2009.

During the quarter, the Company poured and sold 21,014 ounces of gold and produced 17,135 ounces of gold. This production was achieved despite the challenges faced by operations after the surface to 3400 Level pastefill system borehole blocked on June 23rd, as reported in the news releases dated July 7th, 2009 and July 21st, 2009. The sale of 21,014 ounces for the first quarter was a quarterly record for the Company.

Subsequent to the July 21st release, as the Company continued its efforts to clear the remaining blockage following the successful drilling of a three inch hole through the plug, large pieces of cave rock were found in the hole. It was determined that the twelve inch bore hole had collapsed after eighteen years of service, and that efforts to re-open and to continue to use the hole had a low probability for success.

In mid July, a replacement four inch paste hole was started from surface. The new hole has progressed on target and is 60% complete. The underground drifting required to intercept the hole and create a functioning paste system is underway. An early to mid September resumption of paste fill activities is now being targeted. Mining crews affected by the fill delay have been relocated to other production, exploration, or capital heading work.

A second four inch back up pastefill hole will be drilled after completion of the first hole (see diagram 1). The Company expects the new holes to generally improve the reliability of pastefilling operations as a four inch hole is easier to maintain and work with than a twelve inch hole.

"We thank our operations team for delivering a strong quarter working against the circumstances as they have," said Company Chairman Harry Dobson. "We look forward to putting production back on track in September and delivering our targeted quarterly production of 25,000 ounces on a consistent basis."

About the Company

The Company purchased the Macassa Mine and the 1,500 ton per day mill along with four former producing gold properties - Kirkland Lake, Teck-Hughes, Lake Shore and Wright Hargreaves - in December 2001. These properties, which have historically produced some 22 million ounces of gold, extend over seven kilometres between the Macassa Mine on the west and Wright Hargreaves on the east and, for the first time, are being developed and explored under one owner. This camp is located in the Abitibi Southern Greenstone Belt of Kirkland Lake, Ontario, Canada.

Cautionary Note Regarding Forward Looking Statements

This Press Release may contain statements which constitute 'forward-looking, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's Annual Information Form and quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

To view diagram 1 accompanying this press release please click on the following link:

Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release.

Contact Information