Kirkland Lake Gold Inc.
TSX : KGI
AIM : KGI

Kirkland Lake Gold Inc.

April 18, 2007 19:12 ET

Kirkland Lake Gold Inc.: Private Placement of Shares for Proceeds of $6 Million

KIRKLAND LAKE, ONTARIO--(CCNMatthews - April 18, 2007) - Kirkland Lake Gold Inc. (the "Company") (TSX:KGI)(AIM:KGI) is pleased to announce it intends to privately place 483,871 common shares at a price of $12.40 per share for gross proceeds of approximately $6 million. The placees will be Sprott Asset Management ($5 million) and a director of the Company ($1 million). The Company will pay a 6.5% finder's fee to Fort House and MGI Securities in respect of Sprott's investment. The placement is subject to regulatory approval.

The proceeds from the financing will be used for working capital and to fund further development of the Company's Kirkland Lake, Ontario mining operations.

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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