Kirkland Lake Gold Inc.

TSX : KGI
AIM : KGI


Kirkland Lake Gold Inc.

December 20, 2013 02:00 ET

Kirkland Lake Gold Appoints George Ogilvie P. Eng to the Board of Directors

KIRKLAND LAKE, ONTARIO--(Marketwired - Dec. 20, 2013) - Kirkland Lake Gold Inc. ("Kirkland Lake" or "the Company") (TSX:KGI)(AIM:KGI), an operating and exploration gold mining company, today announces the appointment of President and CEO George Ogilvie, P. Eng to the Board of Directors with immediate effect.

George O'Neil Ogilvie, aged 46 was appointed as Chief Executive Officer on November 18, 2013. Within the month of his appointment, a number of changes have been implemented such as a hiring freeze, reduced capital and operating expenditures, shut down of lower-grade stopes, and reductions in discretionary spending.

Mr. Harry Dobson, commented, "As a mining engineer with many years experience working in Canada and the deep level gold mines of South Africa, George's operating knowledge and technical skills are an excellent asset to the Board of Directors. I welcome him on behalf of the Board."

George Ogilvie is also a current director of Rambler Metals and Mining Plc.

There are no other matters under paragraph (g) of Schedule 2 of the AIM rules to be disclosed.

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 October 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.
    George Ogilvie, P. Eng
    CEO
    +1 709 532 5716
    +1 705 568 6444 (FAX)
    gogilvie@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