Kirkland Lake Gold Inc.
TSX : KGI
AIM : KGI

Kirkland Lake Gold Inc.

November 18, 2013 08:43 ET

Kirkland Lake Gold Announces Executive Management Changes

KIRKLAND LAKE, ONTARIO--(Marketwired - Nov. 18, 2013) - Kirkland Lake Gold Inc. (TSX:KGI)(AIM:KGI) ("Kirkland Lake" or "the Company"), an operating and exploration gold mining company, today announces the following management changes.

Mr. Mark Tessier has tendered his resignation as Chief Operating Officer and member of the Board of Directors. The Company thanks Mr. Tessier for his contributions to the Company and wishes him all the best in his future endeavours.

Mr. Brian Hinchcliffe has accepted a new position as Deputy Chairman. The Company has appointed Mr. George Ogilvie, P. Eng as Chief Executive Officer. It is anticipated that Mr. Ogilvie will be appointed to the Board of Directors in due course.

Mr. Harry Dobson commented, "George has significant operational experience in narrow-vein underground mining, spending eight years of his career working in South African gold mines. George will lead the Company in completing our expansion plans to 2,200 tons per day while reducing operation costs to less than $250 per ton. I welcome him to Kirkland Lake's team."

Mr. Brian Hinchcliffe, added, "I look forward to working with George in the Company's transition towards a profitable, intermediate gold producer. With George taking the reins on the operational management, I will focus on the strategic direction of the Company and use of proceeds once the company is free cash flow positive."

Mr. Ogilvie received his B.Sc. (Hons.) in Mining and Petroleum Engineering from Strathclyde University in Glasgow, Scotland. He is a Professional Engineer and holds his Mine Managers Certificate (South Africa) with more than 24 years management, operating and technical experience in the mining industry. George began his career working for Anglo America in 1989. In 1997, he held the position of Mine Superintendent at Hudson Bay Mining, playing a key operations role at the Ruttan Mine in Northern Manitoba. In 2004 he joined Dynatec Corporation as their Area Manager for the Sudbury Basin, and later worked at the McCreedy West Mine as Mine Manger. George also holds the position of Chief Executive Officer at Rambler Metals and Mining. During his seven years at Rambler Metals and Mining, George and his team were responsible for transitioning the company from a grass roots explorer to profitable junior producer.

Mr. George Ogilvie, commented, "I am delighted to be joining Kirkland Lake at this exciting time and am looking forward to working with the team in establishing the Company as a premium gold producer in North America."

About the Company

Kirkland Lake Gold's corporate goal is to create a self sustaining and long lived intermediate gold mining company based in the historic Kirkland Lake Gold Camp. The Company plans to do this by increasing production capacity to 2,200 tons of ore per day in several stages, and by decreasing production costs by realizing the economies of scale associated with that higher production capacity. At the same time, the Company is committed to maintaining a significant exploration program aimed at developing and maintaining a property wide reserve and resource base sufficient to sustain a mine life of more than ten years for as long as practicable.

Cautionary Note Regarding Forward Looking Statements

This Press Release contains statements which constitute "forward-looking statements", 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", "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, and 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 resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, risks related to joint venture operations, 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, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance, 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, 2013 and the Company's Management's Discussion and Analysis for the interim period ended July 31, 2013 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com.
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 except as otherwise required by applicable law.

Contact Information

  • Kirkland Lake Gold Inc.
    Brian Hinchcliffe
    Deputy Chairman
    +1 705 567 5208
    +1 705 568 6444 (FAX)
    bhinchcliffe@klgold.com

    Kirkland Lake Gold Inc.
    Lindsay Dunlop
    Director of Investor Relations
    +1 416-840-7884
    +1 705 568 6444 (FAX)
    ldunlop@klgold.com
    www.klgold.com

    NOMAD: Panmure Gordon (UK) Limited
    Callum Stewart / Adam James
    +44 (0) 20 7886 2500