Kirkland Lake Gold Inc.
TSX : KGI
AIM : KGI

Kirkland Lake Gold Inc.

August 25, 2005 17:00 ET

Kirkland Lake Closes Unit Private Placement for Proceeds of $5 Million

KIRKLAND LAKE, ONTARIO--(CCNMatthews - Aug. 25, 2005) - Kirkland Lake Gold Inc. (the "Company") (TSX:KGI)(AIM:KGI) is pleased to announce it has privately placed 1.25 million units at a price of $4.00 per unit for gross proceeds of $5 million. Each unit consisted of one common share and one-half of a share purchase warrant. Each whole warrant is exercisable for a period of nine months at a price of $4.60 per share. The Company intends to seek admission for trading on AIM of the 1.25 million shares issued on closing and 625,000 shares issuable on exercise of the warrants. It is anticipated that admission will occur on AIM on September 1, 2005. A finder's fee of $200,000 was paid on closing.

The proceeds from the financing will be used for development of and exploration programs at the Company's Kirkland Lake, Ontario mining operations.

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

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