Kirkland Lake Gold Inc.
TSX : KGI
AIM : KGI

Kirkland Lake Gold Inc.

September 19, 2007 14:47 ET

Kirkland Lake Gold Inc.: Private Placement of Shares for Proceeds of $5.13 Million

KIRKLAND LAKE, ONTARIO--(Marketwire - Sept. 19, 2007) - Kirkland Lake Gold Inc. (TSX:KGI)(AIM:KGI) (the "Company") announces it has agreed with a request from Sprott Asset Management to privately place 450,000 Units at a price of $11.40 per Unit for gross proceeds of $5.13 million in order to increase its holdings in the Company. Each unit will consist of one common share and one-half of a share purchase warrant. Each whole warrant is exercisable to purchase a further common share at a price of $13.00 for a period of two years. The Company will pay a 2% finder's fee in respect of this investment.

"We value Sprott Asset Management as a key shareholder," said Brian Hinchcliffe, the Company's President. "The additional funds will allow us to expedite development of the New South Complex."

Application will be made to the AIM Market of the London Stock Exchange for the shares issued on closing, and when issued, any shares issued on the exercise of the warrants, to be admitted for trading. It is expected that trading in the shares issued on closing will commence following the expiry of the four month hold period applicable under Canadian securities legislation.

The placement is subject to regulatory approval.

Neither the Toronto Stock Exchange nor the 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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