Kirkland Lake Gold Inc.
TSX : KGI

Kirkland Lake Gold Inc.

September 03, 2015 07:00 ET

Kirkland Lake Gold Announces a Board & Executive Management Change

TORONTO, ONTARIO--(Marketwired - Sept. 3, 2015) - Kirkland Lake Gold Inc. ("Kirkland Lake Gold" or the "Company") (TSX:KGI), an operating and exploration gold company with operations in Ontario, Canada, announces that Mr. John Thomson, Executive Vice President and Chief Financial Officer will be leaving the company in early 2016. As a consequence, Mr. Thomson will not be standing for re-election as a director at this year's annual meeting to be held on October 22, 2015, in Toronto. Mr. Thomson has agreed to support the recruitment of a successor and will transition his duties and responsibilities to the new incumbent over the remainder of the year.

Eric Sprott, Chairman of the Board, commented, "On behalf of the Board of Directors, I wish to thank Mr. Thomson for his significant contributions and for his commitment to the success of the Company. We are grateful to John for supporting a smooth transition."

George Ogilvie, Chief Executive Officer, commented, "I would like to personally thank John who has been a great supporter of Kirkland Lake Gold and has provided senior level strategic and financial leadership to the Company over the past ten years. With the Company now on a more stable footing and with strategic growth objectives in mind, it was felt that migrating this role to be based out of Toronto was in the best interests of the Company and its shareholders. I am very pleased John has agreed to participate proactively in facilitating this process. On behalf of the Kirkland Lake team, we would like to thank him and wish him all the best in his future endeavours."

About the Company

Kirkland Lake Gold Inc. is a gold producer with assets in Kirkland Lake, northeastern Ontario. Current gold production is in excess of 150,000 ounces per year and is expected to grow to over 180,000 ounces per year in the next three years as exploration and development work continue. The exploration program is aimed at maintaining a property wide reserve and resource base sufficient to sustain a mine life of more than ten years, with the current mine life estimated at between ten to fourteen years of production in a high grade gold camp.

The Company is committed to building a sustainable mining company that is recognized as a safe and responsible gold producer. Kirkland Lake Gold plans to evolve into an intermediate gold mining company centred in the historically robust Kirkland Lake gold camp, while evaluating opportunities for growth in other safe mining jurisdictions.

The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward Looking Statements

This Press Release contains statements which constitute "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made such as, without limitation, opinion, assumptions and estimates of management regarding the Company's business, including but not limited to; the Company's anticipated timing with respect to the transition to a new Chief Financial Officer and the impacts of such transition. Such opinions, assumptions and estimates, are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), possible variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's corporate mineral reserves and resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis and Annual Information Form for the year ended April 30, 2015, and the Company's Management's Discussion and Analysis for the interim period ended April 30, 2015, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com.

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 to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

Contact Information