Kirkland Lake Gold Inc.
TSX : KGI
AIM : KGI

Kirkland Lake Gold Inc.

September 07, 2005 19:21 ET

Kirkland Lake Gold Inc.: Private Placement of $4 Million of Units and $2.5 Million of Flow-Through Shares

KIRKLAND LAKE, ONTARIO--(CCNMatthews - Sept. 7, 2005) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION TO U.S. WIRE SERVICES

Kirkland Lake Gold Inc. (the "Company") (TSX:KGI)(AIM:KGI) intends to privately place a total of 1 million units at a price of $4.00 per unit with Sprott Asset Management Ltd. and up to 555,500 'flow-through' shares at a price of $4.50 per share with various investors in Canada for gross proceeds of approximately $6.5 million. Each unit shall consist 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 flow-through shares will entitle subscribers to certain deductions from their Canadian income tax. The Company intends to apply to AIM for admission of all shares issued and issuable under this placement.

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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