Kirkland Lake Gold Inc.
TSX : KGI
AIM : KGI

Kirkland Lake Gold Inc.

January 17, 2008 18:13 ET

Kirkland Lake Gold Inc.: Second Tranche of Shares Issued & Cash Payment Made Under South Claims Acquisition

KIRKLAND LAKE, ONTARIO--(Marketwire - Jan. 17, 2008) - Kirkland Lake Gold Inc. (the "Company") (TSX:KGI)(AIM:KGI) announces that it has completed the issuance of the second tranche of shares and made the second cash payment to the vendor of the South Claims. The Company issued 4,929 common shares valued at C$62,500 (C$12.65 per share) and paid C$62,500. The shares are subject to restrictions on transfer until May 16, 2008. To complete its purchase obligations, the Company must issue a further C$112,500 worth of shares and pay a further C$112,500 to the vendor by January 15, 2010. For complete details see the Company's press release dated April 17, 2007.

An application has been made to the AIM Market of the London Stock Exchange for the 4,929 common shares issued on closing to be admitted to be trading on AIM. It is expected that admission will be effective on January 23, 2008.

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 east and Wright Hargreaves on the west 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.

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