Kirkland Lake Gold Inc.
TSX : KGI
AIM : KGI

Kirkland Lake Gold Inc.

August 09, 2005 09:30 ET

Kirkland Lake Gold Inc.: Private Placement of Units for Proceeds of up to $5 Million

KIRKLAND LAKE, ONTARIO--(CCNMatthews - Aug. 9, 2005) - Kirkland Lake Gold Inc. (TSX:KGI)(AIM:KGI) -

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

Kirkland Lake Gold Inc. (the "Company") is pleased to announce it intends to privately place up to 1.25 million units at a price of $4.00 per unit for gross proceeds of up to $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 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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