Kirkland Lake Gold Inc.
TSX : KGI
AIM : KGI

Kirkland Lake Gold Inc.

April 30, 2007 17:51 ET

Kirkland Lake Gold Inc.: Share Private Placement for Proceeds of $11 Million Completed

KIRKLAND LAKE, ONTARIO--(CCNMatthews - April 30, 2007) - Kirkland Lake Gold Inc. (the "Company") (TSX:KGI)(AIM:KGI) is pleased to announce its private placement announced April 18, 2007 was oversubscribed and a total of 887,146 common shares at a price of $12.40 per share were sold for gross proceeds of $11 million. The placees were Sprott Asset Management ($5 million), a Dynamic Mutual Fund ($5 million) and a director of the Company ($1 million). The Company paid a 6.5% finder's fee to Fort House and MGI Securities in connection with the arm's length portion of the placement. The shares are subject to restrictions on transfer until August 31, 2007. An application is being made to the AIM Market of the London Stock Exchange to admit the common shares issued on closing.

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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