Kirkland Lake Gold Inc.
TSX : KGI
AIM : KGI

Kirkland Lake Gold Inc.

March 10, 2014 03:00 ET

Surface Drilling Extends Amalgamated Break Zones 500 Feet East; Drill Hole AB-13-118 Assays 5.54 Ounces of Gold Per Ton (189.94 Grams of Gold Per Tonne) Over 0.9 Feet (0.3m) True Width

KIRKLAND LAKE, ONTARIO--(Marketwired - March 10, 2014) - Kirkland Lake Gold Inc. (the Company) (TSX:KGI)(AIM:KGI), an operating and exploration gold company, is pleased to announce recent drilling results from its ongoing surface diamond drilling exploration program. This latest program utilized one drill rig on the South Claims Property (See Figure 1), in a continuing effort to define potential near surface resources.

Mr. George Ogilvie, CEO commented, "We are further encouraged with the results of our surface program and the continued extension of the mineralized zone to the east. This will be the first year that this near surface mineralization will be brought into a compliant NI43-101 resource, when it is released (expected this spring). Beyond that, we will look to continue expanding the resource with the ultimate goal of creating a NI43-101 reserve model. To date the mineralization remains open both across strike and 1,000 feet below surface."

This phase of the surface exploration program was a continuation of the ongoing exploration program defining near surface mineralization associated with the Amalgamated Break. The exploration area described herein is immediately east of the area outlined in the Company's news release dated June 18, 2013. The program was designed to test for gold mineralization down to 1,000 feet below surface.

The following are some of the highlights of the drilling program:

  • Drill hole AB-13-118 intersected Zone 1 and returned 5.54 opt uncut over 1.0 foot of core length (0.9 feet true width). This intersection is approximately 680 feet below surface and contained visible gold.

  • Drill hole AB-13-33 intersected Zone 1 and returned 0.67 ounces per ton (opt) over 5.0 feet of core length (4.2 feet true width). This hole also intersected Zone 2 and returned 1.22 opt over 1.0 foot of core length (0.8 feet true width).

  • Drill hole AB-13-62 intersected Zone 2 and returned 5.18 opt uncut over 1.1 feet of core length (1.1 feet true width). This intersection is approximately 450 feet below surface and contained visible gold.

  • Current drilling has successfully defined high grade gold mineralization on both Zone 1 and Zone 2 (previously discovered and described in the Company's new release dated June 18, 2013) down to approximately 800 feet below surface (See Figures 2 and 3). Previous drilling had only seen high grade gold values on these two zones above the 400 foot elevation.

  • This phase of drilling has intersected high grade gold values within Zone 1 and Zone 2 approximately 500 feet east of the previously defined limit.

This drill program was carried out utilizing one drill rig on surface. Drilling activities will continue to focus on defining gold mineralization both east and west of the known limits of all three currently defined zones which are associated with the Amalgamated Break.

The following figures, relating to information in this release, may be viewed at the Company's website at www.klgold.com.

  • Figure 1 - plan view showing the location of the current surface drill program.
  • Figure 2 - long section showing current Zone 1 intercepts.
  • Figure 3 - long section showing current Zone 2 intercepts.

The following table summarizes the latest drilling results in imperial values:

SOUTH CLAIMS SURFACE EXPLORATION

DRILL
HOLE No.
ZONE FROM
(feet)
TO
(feet)
HOLE
DIP
(degrees)
AZIMUTH
(degrees)
ASSAY
(oz per ton/feet)
AB-13-118 Zone 1
Zone 2
815.7
889.3
816.7
891.3
-57 329 5.54/1.0' CL=0.9' TW, VG
3.50/1.0' CL=0.9' TW, *CUT
0.02/2.0' CL (TW Not Calculated)
AB-12-33 Zone 1
Incl.
Zone 2
407.0
410.8
479.7
412.0
412.0
480.7
-79 327 0.67/5.0' CL=4.2' TW, VG
1.82/1.2' CL=1.0' TW
1.22/1.0' CL=0.8' TW, VG
AB-13-62 Zone 1
Zone 2
523.5
591.5
526.0
592.6
-47 333 0.30/2.5' CL=2.5' TW, VG
5.18/1.1' CL=1.1' TW, VG
3.50/1.1' CL=1.1' TW, *CUT
AB-12-21 Zone 1
Zone 2
-88 327 NSV
NSV
AB-12-22 Zone 1
Zone 2
495.3 497.2 -79 327 0.01/1.9' CL (TW Not Calculated)
NSV
AB-12-23 Zone 1
Zone 2
462.1 464.8 -70 327 0.02/2.7' CL (TW Not Calculated)
NSV
AB-12-32 Zone 1
Zone 2
493.5
590.0
497.0
593.0
-88 327 0.08/3.5' CL (TW Not Calculated)
0.04/3.0' CL (TW Not Calculated)
AB-12-34 Zone 1
Zone 2
397.0 400.0 -70 327 0.03/3.0' CL (TW Not Calculated)
NSV
AB-12-35 Zone 1
Zone 2
372.7
409.4
373.7
410.4
-58 327 0.02/1.0' CL (TW Not Calculated)
0.02/1.0' CL (TW Not Calculated)
AB-12-36 Zone 1
Zone 2

382.0

383.0
-45 327 NSV
0.02/1.0' CL (TW Not Calculated)
AB-12-41 Zone 1
Zone 2

672.5

678.0
-88 327 NSV
0.06/5.5' CL (TW Not Calculated)
AB-12-42 Zone 1
Zone 2

524.4

528.4
-79 327 NSV
0.05/4.0' CL (TW Not Calculated)
AB-12-43 Zone 1
Zone 2
437.6
472.6
439.1
475.0
-70 327 0.10/1.5' CL (TW Not Calculated)
0.03/2.4' CL (TW Not Calculated)
AB-12-44 Zone 1
Zone 2
404.3
440.9
405.3
443.2
-58 327 0.09/1.0' CL (TW Not Calculated)
0.11/2.3' CL (TW Not Calculated)
AB-12-45 Zone 1
Zone 2
387.2 389.2 -45 327 0.01/2.0' CL (TW Not Calculated)
NSV
AB-12-74 Zone 1
Zone 2
1112.4
1170.0
1113.7
1171.0
-45 327 0.07/1.3' CL (TW Not Calculated)
0.03/1.0' CL (TW Not Calculated)
AB-12-76 Zone 1
Zone 2
891.7 892.7 -84 327 0.04/1.0' CL (TW Not Calculated)
NSV
AB-12-77 Zone 1
Zone 2
547.2
583.0
548.2
586.0
-55 313 0.21/1.0' CL=1.0' TW
0.19/3.0' CL=2.9' TW
AB-12-78A Zone 1
Zone 2

652.5

653.5
-65 306 NSV
0.15/1.0' CL=0.8' TW
AB-12-79 Zone 1
Zone 2
556.2
606.0
557.5
607.0
-45 314 0.31/1.3' CL=1.3' TW, VG
0.47/1.0' CL=1.0' TW
AB-12-81 Zone 1
Zone 2
1116.0 1117.0 -45 327 3.22/1.0' CL=1.0' TW
NSV
AB-12-82 Zone 1
Zone 2
-88 306 NSV
NSV
AB-12-83 Zone 1 687.5 689.3 -78 306 0.84/1.8' CL=1.4' TW, VG
AB-13-01 Zone 1
Zone 2
-52 346 NSV
NSV
AB-13-03 Zone 1
Zone 2
539.3
613.5
540.4
615.7
-61 346 0.01/1.1' CL (TW Not Calculated)
0.14/2.2' CL=2.0' TW
AB-13-04 Zone 1
Zone 2

568.2

569.8
-45 346 NSV
0.07/1.6' CL (TW Not Calculated)
AB-13-11 Zone 1
Zone 2
614.9
654.6
615.9
662.8
-65 360 0.16/1.0' CL=0.7' TW
0.01/8.2' CL (TW Not Calculated)
AB-13-12 Zone 1
Zone 2

630.0

632.0
-55 360 NSV
0.08/2.0' CL (TW Not Calculated)
AB-13-13 Zone 1
Zone 2
591.9
618.8
593.2
619.8
-45 360 0.07/1.3' CL (TW Not Calculated)
0.01/1.0' CL (TW Not Calculated)
AB-13-29 Zone 1
Zone 2

355.4

357.6
-88 327 NSV
0.64/2.2' CL=1.4' TW
AB-13-30 Zone 1
Zone 2
196.8 202.2 -65 327 0.05/5.4' CL (TW Not Calculated)
NSV
AB-13-31 Zone 1
Zone 2
145.8
250.0
157.6
253.0
-45 327 0.06/11.8' CL (TW Not Calculated)
0.14/3.0' CL=2.9' TW
AB-13-34 Zone 1
Zone 2
214.5
285.0
216.5
288.0
-88 327 0.02/2.0' CL (TW Not Calculated)
0.02/3.0' CL (TW Not Calculated)
AB-13-35 Zone 1
Zone 2
141.3
214.9
144.3
217.1
-65 327 0.05/3.0' CL (TW Not Calculated)
0.10/2.2' CL (TW Not Calculated)
AB-13-36 Zone 1
Zone 2

164.1

165.6
-45 327 NSV
0.05/1.5' CL (TW Not Calculated)
AB-13-37 Zone 1
Zone 2
51.9
177.2
52.9
178.3
-45 327 0.14/1.0' CL=0.8' TW
0.87/1.1' CL=1.1' TW, VG
AB-13-63 Zone 1
Zone 2
568.5
639.6
570.6
641.6
-56 333 0.23/2.1' CL=1.9' TW, VG
0.04/2.0' CL (TW Not Calculated)
AB-13-64 Zone 1
Zone 2

710.8

711.8
-65 337 NSV
0.07/1.0' CL (TW Not Calculated)
AB-13-65A Zone 1
Zone 2
679.0 680.0 -72 337 0.09/1.0' CL (TW Not Calculated)
NSV
AB-13-119 Zone 1
Incl.
Zone 2
857.8
857.8
861.7
858.8
-61 309 1.39/3.9' CL=3.8' TW, VG
1.38/3.9' CL=3.8' TW, *CUT
3.55/1.0' CL=1.0' TW
NSV
AB-13-120 Zone 1
Zone 2

853.0

860.0
-51 309 NSV
0.09/7.0' CL (TW Not Calculated)
AB-13-126 Zone 1
Zone 2
Incl.
266.2
295.0
301.6
267.2
302.6
302.6
-70 327 0.01/1.0' CL (TW Not Calculated)
0.24/7.6' CL=6.6' TW
0.86/1.0' CL=0.9' TW
AB-13-127 Zone 1
Zone 2
43.0
130.0
45.0
133.0
-50 327 0.01/2.0' CL (TW Not Calculated)
0.02/3.0' CL (TW Not Calculated)
AB-13-128 Zone 1
Zone 2
202.9
262.5
205.9
263.7
-64 327 0.01/3.0' CL (TW Not Calculated)
0.04/1.2' CL (TW Not Calculated)
AB-13-140A Zone 1
Zone 2
686.6
719.0
687.6
721.0
-56 317 0.08/1.0' CL (TW Not Calculated)
0.04/2.0' CL (TW Not Calculated)
AB-13-141 Zone 1
Zone 2
772.3
852.1
773.5
854.6
-69 329 0.11/1.2' CL (TW Not Calculated)
0.06/2.5' CL (TW Not Calculated)
AB-13-142 Zone 1
Zone 2

683.9

685.8
-46 329 NSV
0.05/1.9' CL (TW Not Calculated)
AB-13-143 Zone 1
Zone 2
664.2
710.1
665.2
713.0
-56 341 0.23/1.0' CL=0.9' TW
0.03/2.9' CL (TW Not Calculated)
AB-13-146A Zone 1
Zone 2
854.0 855.0 -61 324 1.70/1.0' CL=0.9' TW, VG
NSV
AB-13-147 Zone 1
Zone 2
785.6
822.2
787.3
825.5
-50 332 0.03/1.7' CL (TW Not Calculated)
0.03/3.3' CL (TW Not Calculated)
AB-13-148 Zone 1
Zone 2
911.6 912.6 -65 326 0.23/1.0' CL=0.8' TW
NSV
AB-13-149 Zone 1
Zone 2
876.8 877.8 -61 327 0.02/1.0' CL (TW Not Calculated)
NSV
AB-13-150 Zone 1
Zone 2
822.2
889.0
823.7
891.2
-50 327 0.07/1.5' CL (TW Not Calculated)
0.02/2.2' CL (TW Not Calculated)
AB-13-163 Zone 1
Zone 2
-71 326 NSV
NSV
AB-13-164 Zone 1
Zone 2
828.6
920.7
831.0
923.1
-65 326 0.21/2.4' CL=2.3' TW
0.59/2.4' CL=2.3' TW, VG
AB-13-165 Zone 1
Zone 2
835.2
902.9
836.3
905.0
-65 342 0.18/1.1' CL=1.0' TW
0.05/2.1' CL (TW Not Calculated)
AB-13-169 Zone 1
Zone 2
931.2
962.2
932.2
963.2
-70 342 0.12/1.0' CL (TW Not Calculated)
0.03/1.0' CL (TW Not Calculated)
TW = True Width, CL = Core Length, VG = Visible Gold, NSV=No Significant Values, *Cut = cut to 3.5 opt
The following table summarizes the latest drilling results in metric values:
SOUTH CLAIMS SURFACE EXPLORATION
DRILL
HOLE No.
ZONE FROM
(m)
TO
(m)
HOLE
DIP
(degrees)
AZIMUTH
(degrees)
ASSAY
(grams per tonne/metres)
AB-13-118 Zone 1
Zone 2
248.6
271.1
248.9
271.7
-57 329 189.94/0.3m CL=0.3m TW, VG
120.00/0.3m CL=0.3m TW, *CUT
0.69/0.6m CL (TW Not Calculated)
AB-12-33 Zone 1
Incl.
Zone 2
124.1
125.2
146.2
125.6
125.6
146.5
-79 327 22.97/1.5m CL=1.3m TW, VG
62.40/0.4m CL=0.3m TW
41.83/0.3m CL=0.2m TW, VG
AB-13-62 Zone 1
Zone 2
159.6
180.3
160.3
180.6
-47 333 10.29/0.8m CL=0.7m TW, VG
177.60/0.3m CL=0.3m TW, VG
120.00/0.3m CL=0.3m TW, *CUT
AB-12-21 Zone 1
Zone 2
-88 327 NSV
NSV
AB-12-22 Zone 1
Zone 2
151.0 151.5 -79 327 0.34/0.6m CL=0.6m TW
NSV
AB-12-23 Zone 1
Zone 2
140.8 141.7 -70 327 0.69/0.8m CL (TW Not Calculated)
NSV
AB-12-32 Zone 1
Zone 2
150.4
179.8
151.5
180.7
-88 327 2.74/1.1m CL (TW Not Calculated)
1.37/0.9m CL (TW Not Calculated)
AB-12-34 Zone 1
Zone 2
121.0 121.9 -70 327 1.03/0.9m CL (TW Not Calculated)
NSV
AB-12-35 Zone 1
Zone 2
113.6
124.8
113.9
125.1
-58 327 0.69/0.3m CL (TW Not Calculated)
0.69/0.3m CL (TW Not Calculated)
AB-12-36 Zone 1
Zone 2

116.4

116.7
-45 327 NSV
0.69/0.3m CL (TW Not Calculated)
AB-12-41 Zone 1
Zone 2

205.0

206.7
-88 327 NSV
2.06/1.7m CL (TW Not Calculated)
AB-12-42 Zone 1
Zone 2

159.8

161.1
-79 327 NSV
1.71/1.2m CL (TW Not Calculated)
AB-12-43 Zone 1
Zone 2
133.4
144.0
133.8
144.8
-70 327 3.43/0.5m CL (TW Not Calculated)
1.03/0.7m CL (TW Not Calculated)
AB-12-44 Zone 1
Zone 2
123.2
134.4
123.5
135.1
-58 327 3.09/0.3m CL (TW Not Calculated)
3.77/0.7m CL (TW Not Calculated)
AB-12-45 Zone 1
Zone 2
118.0 118.6 -45 327 0.34/0.6m CL (TW Not Calculated)
NSV
AB-12-74 Zone 1
Zone 2
339.1
356.6
339.5
356.9
-45 327 2.40/0.4m CL (TW Not Calculated)
1.03/0.3m CL (TW Not Calculated)
AB-12-76 Zone 1
Zone 2
271.8 272.1 -84 327 1.47/0.3m CL (TW Not Calculated)
NSV
AB-12-77 Zone 1
Zone 2
166.8
177.7
167.1
178.6
-55 313 7.20/0.3m CL=0.3m TW
6.51/0.9m CL=0.9m TW
AB-12-78A Zone 1
Zone 2

198.9

199.2
-65 306 NSV
5.14/0.3m CL=0.2m TW
AB-12-79 Zone 1
Zone 2
169.5
184.7
169.9
185.0
-45 314 10.63/0.4m CL=0.4m TW, VG
16.11/0.3m CL=0.3m TW
AB-12-81 Zone 1
Zone 2
340.2 340.5 -45 327 110.40/0.3m CL=0.3m TW
NSV
AB-12-82 Zone 1
Zone 2
-88 306 NSV
NSV
AB-12-83 Zone 1 209.6 210.1 -78 306 28.80/0.5m CL=0.4m TW, VG
AB-13-01 Zone 1
Zone 2
-52 346 NSV
NSV
AB-13-03 Zone 1
Zone 2
164.4
187.0
164.7
187.7
-61 346 0.34/0.3m CL (TW Not Calculated)
4.80/0.7m CL=0.6m TW
AB-13-04 Zone 1
Zone 2

173.2

173.7
-45 346 NSV
2.40/0.5m CL (TW Not Calculated)
AB-13-11 Zone 1
Zone 2
187.4
199.5
187.7
202.0
-65 360 5.49/0.3m CL=0.2m TW
0.34/2.5m CL (TW Not Calculated)
AB-13-12 Zone 1
Zone 2

192.0

192.6
-55 360 NSV
2.74/0.6m CL (TW Not Calculated)
AB-13-13 Zone 1
Zone 2
180.4
188.6
180.8
188.9
-45 360 2.40/0.4m CL (TW Not Calculated)
0.43/0.3m CL (TW Not Calculated)
AB-13-29 Zone 1
Zone 2

108.3

109.0
-88 327 NSV
21.94/0.7m CL=0.4m TW
AB-13-30 Zone 1
Zone 2
60.0 61.6 -65 327 1.71/1.6m CL (TW Not Calculated)
NSV
AB-13-31 Zone 1
Zone 2
44.4
76.2
48.0
77.1
-45 327 2.06/3.6m CL (TW Not Calculated)
4.80/0.9m CL=0.9m TW
AB-13-34 Zone 1
Zone 2
65.4
86.9
66.0
87.8
-88 327 0.69/0.6m CL (TW Not Calculated)
0.69/0.9m CL (TW Not Calculated)
AB-13-35 Zone 1
Zone 2
43.1
65.5
44.0
66.2
-65 327 1.71/0.9m CL (TW Not Calculated)
3.43/0.7m CL (TW Not Calculated)
AB-13-36 Zone 1
Zone 2

50.0

50.5
-45 327 NSV
1.71/0.5m CL (TW Not Calculated)
AB-13-37 Zone 1
Zone 2
15.8
54.0
16.1
54.3
-45 327 4.80/0.3m CL=0.3m TW
29.83/0.3m CL=0.3m TW, VG
AB-13-63 Zone 1
Zone 2
173.3
195.0
173.9
195.6
-56 333 7.89/0.6m CL=0.6m TW, VG
1.37/0.6m CL (TW Not Calculated)
AB-13-64 Zone 1
Zone 2

216.7

217.0
-65 337 NSV
2.40/0.3m CL (TW Not Calculated)
AB-13-65A Zone 1
Zone 2
207.0 207.3 -72 337 3.09/0.3m CL (TW Not Calculated)
NSV
AB-13-119 Zone 1
Incl.
Zone 2
261.5
261.5
262.6
261.8
-61 309 47.66/1.2m CL=1.2m TW, VG
5.90/1.2m CL=1.2m TW, *CUT
121.78/0.3m CL=0.3m TW
NSV
AB-13-120 Zone 1
Zone 2

260.0

262.1
-51 309 NSV
3.09/2.1m CL (TW Not Calculated)
AB-13-126 Zone 1
Zone 2
Incl.
81.1
89.9
91.9
81.4
92.2
92.2
-70 327 0.34/0.3m CL (TW Not Calculated)
8.23/2.3m CL=2.0m TW
29.49/0.3m CL=0.3m TW
AB-13-127 Zone 1
Zone 2
13.1
39.6
13.7
40.5
-50 327 0.34/0.6m CL (TW Not Calculated)
0.69/0.9m CL (TW Not Calculated)
AB-13-128 Zone 1
Zone 2
61.8
80.0
62.8
80.4
-64 327 0.34/0.9m CL (TW Not Calculated)
1.37/0.4m CL (TW Not Calculated)
AB-13-140A Zone 1
Zone 2
209.3
219.2
209.6
219.8
-56 317 2.74/0.3m CL (TW Not Calculated)
1.37/0.6m CL (TW Not Calculated)
AB-13-141 Zone 1
Zone 2
235.4
259.7
235.8
260.5
-69 329 3.77/0.4m CL (TW Not Calculated)
2.06/0.8m CL (TW Not Calculated)
AB-13-142 Zone 1
Zone 2

208.5

209.0
-46 329 NSV
1.71/0.5m CL (TW Not Calculated)
AB-13-143 Zone 1
Zone 2
202.4
216.4
202.8
217.3
-56 341 7.89/0.3m CL=0.3m TW
1.03/0.9m CL (TW Not Calculated)
AB-13-146A Zone 1
Zone 2
260.3 260.6 -61 324 58.29/0.3m CL=0.3m TW, VG
NSV
AB-13-147 Zone 1
Zone 2
239.5
250.6
240.0
251.6
-50 332 1.03/0.5m CL (TW Not Calculated)
1.03/1.0m CL (TW Not Calculated)
AB-13-148 Zone 1
Zone 2
277.9 278.2 -65 326 7.89/0.3m CL=0.2m TW
NSV
AB-13-149 Zone 1
Zone 2
267.2 267.6 -61 327 0.69/0.3m CL (TW Not Calculated)
NSV
AB-13-150 Zone 1
Zone 2
250.6
271.0
251.1
271.6
-50 327 2.40/0.5m CL (TW Not Calculated)
0.69/0.7m CL (TW Not Calculated)
AB-13-163 Zone 1
Zone 2
-71 326 NSV
NSV
AB-13-164 Zone 1
Zone 2
252.6
280.6
253.3
281.4
-65 326 7.20/0.7m CL=0.7m TW
20.23/0.7m CL=0.7m TW, VG
AB-13-165 Zone 1
Zone 2
254.6
275.2
254.9
275.8
-65 342 6.17/0.3m CL=0.3m TW
1.71/0.6m CL (TW Not Calculated)
AB-13-169 Zone 1
Zone 2
283.8
293.3
284.1
293.6
-70 342 4.11/0.3m CL (TW Not Calculated)
1.03/0.3m CL (TW Not Calculated)
TW = True Width, CL = Core Length, VG = Visible Gold, NSV=No Significant Values, *Cut = cut to 120.0 grams/tonne

About the Company

Kirkland Lake Gold Inc.'s corporate goal is to create a self-sustaining and long lived intermediate gold mining company based in the historic Kirkland Lake Gold Camp. The Company plans to do this by mining to the reserve grade, generating profits and free cash flow for the shareholders. The Company will also look to take advantage of its increased infrastructure capacity in the appropriate gold price environment. At the same time, the Company is committed to maintaining a significant exploration program aimed at developing and maintaining a property wide reserve and resource base sufficient to sustain a mine life of more than ten years.

Over the last several years the Company has invested significant capital to improve the infrastructure of the business including upgrading the production hoist, skips, mill, underground mobile equipment and capital development.

From initial discovery to present day there have been over 24 million ounces of gold mined from the Kirkland Lake camp while the current reserve and resource provides for potentially 10 years of mining with significant exploration upside.

The results of the Company's underground diamond drilling program have been reviewed, verified (including sampling, analytical and test data) and compiled by the Company's geological staff (which includes a 'qualified person', Stewart Carmichael P.Geo., the Company's Chief Exploration Geologist, for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators). Mr. Carmichael also supervised the preparation of the information that forms the basis of the technical disclosure in this release.

The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. The drill core is sawn in half with one half of the core samples shipped to Swastika Laboratories in Swastika, Ontario. The other half of the core is retained for future assay verification. Other QA/QC includes the insertion of blanks, and the regular re-assaying of pulps and rejects at alternate certified labs. Gold analysis is conducted by fire assay using atomic absorption or gravimetric finish. The laboratory re-assays at least 10% of all samples and additional checks may be run on anomalous values.

The Company's Macassa Mine Property is the subject of a reserve report prepared by Glenn R. Clark, P.Eng. entitled Review of Resources and Reserves of Macassa Mine, Kirkland Lake, Ontario at January 1, 2013 dated June 24, 2013, which has been filed on SEDAR (www.sedar.com) under the Company's filings.

Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This Press Release contains statements which constitute "forward-looking statements", including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Forward-looking statements used in this Press Release include, but may not be limited to, statements regarding the acceptance of the Rights Plan by the TSX and the timing thereof, the approval of the Rights Plan by shareholders of the Company, the Company's production capacity and its exploration program. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made such as, without limitation, opinion, assumptions and estimates of management regarding the Company's business, its ability to complete the strategic and mine plan review and its ability to increase its production capacity and decrease its production cost. Such opinions, assumptions and estimates, are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.
These factors include the outcome of the strategic review process the Board has implemented, the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), possible variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's corporate mineral resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, risks related to joint venture operations, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis and Annual Information Form for the year ended April 30, 2013 and the Company's Management's Discussion and Analysis for the interim period ended October 31, 2013 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

To view the figures associated with this press release, please visit the following link: http://media3.marketwire.com/docs/KGI_FIGURES_1-3.pdf.

Contact Information

  • Kirkland Lake Gold Inc.
    George Ogilvie
    CEO
    +1 705 567 5208
    +1 705 568 6444 (FAX)
    gogilvie@klgold.com

    Kirkland Lake Gold Inc.
    Lindsay Dunlop
    Director of Investor Relations
    +1 416-840-7884
    +1 705 568 6444 (FAX)
    ldunlop@klgold.com
    www.klgold.com

    NOMAD: Panmure Gordon (UK) Limited
    Katherine Roe / Callum Stewart / Adam James
    +44 (0) 20 7 886 2500