Precious Metals

ISS states there is “sound strategic rationale for a combination with AEM and the all-stock consideration provides an opportunity for shareholders to participate in the potential upside represented by a more diversified set of operating assets and exploration portfolio”  Kirkland Lake Gold Ltd. today announced that a leading independent proxy advisor, Institutional Shareholder Services Inc. has recommended that ...
  • Leading, Independent Proxy Advisory Firm ISS recommends Kirkland Lake Gold shareholders vote in favour of proposed merger of equals with Agnico Eagle Mines Limited

  • ISS states there is "sound strategic rationale for a combination with AEM and the all-stock consideration provides an opportunity for shareholders to participate in the potential upside represented by a more diversified set of operating assets and exploration portfolio"
  • Shareholders are encouraged to vote well in advance of the proxy voting deadline of 11:00 am (EST) on November 24, 2021. Questions? Need help voting? Contact Kingsdale Advisors at 1.877.659.1824

 Kirkland Lake Gold Ltd. (" Kirkland Lake Gold ", the " Company " or " KL ") (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that a leading independent proxy advisor, Institutional Shareholder Services Inc. (" ISS "), has recommended that the Company's shareholders vote FOR the merger of equals (the " Merger ") with Agnico Eagle Mines Limited (" Agnico Eagle ") (TSX: AEM) (NYSE: AEM) by way of a plan of arrangement (the " Arrangement ").

On September 28, 2021, Kirkland Lake Gold and Agnico Eagle entered into a merger agreement pursuant to which Agnico Eagle will acquire all of the issued and outstanding common shares of Kirkland Lake Gold on the basis of 0.7935 of an Agnico Eagle common share for each Kirkland Lake Gold common share held. Upon completion of the Arrangement, existing Kirkland Lake Gold and Agnico Eagle shareholders are expected to own approximately 46% and 54% of the outstanding shares of the pro forma company, respectively.

Following its assessment of the Arrangement, ISS stated, among other things, that:

"There appears to be sound strategic rationale for a combination with AEM and the all-stock consideration provides an opportunity for shareholders to participate in the potential upside represented by a more diversified set of operating assets and exploration portfolio... In addition, the combined company will continue to benefit from the leadership of KL's CEO who has delivered a healthy TSR since assuming the position in 2016."

Tony Makuch, President and Chief Executive Officer of Kirkland Lake Gold, commented: "We are pleased that ISS, a leading proxy advisor, has endorsed this deal and encouraged all shareholders to vote FOR the Arrangement with Agnico Eagle. The Merger represents a truly unique opportunity to create a new leader in the gold mining industry, with the lowest unit costs, best risk profile, substantial financial strength, an extensive project pipeline to drive future growth and leadership in key areas of ESG. The combined company, to continue under the Agnico Eagle name, will have a dominant position in one of the world's great gold regions, the Abitibi region of northern Ontario and northwestern Quebec, which will provide significant value creation opportunities. The new Agnico Eagle will be a company deserving of a premium valuation, given its many competitive advantages, and will be ideally positioned to generate superior long-term returns for shareholders going forward. The endorsement of ISS is a positive step forward and we encourage all shareholders to vote their shares well in advance of the deadline at 11:00 am (EST) on November 24, 2021."

KIRKLAND LAKE GOLD MEETING

Kirkland Lake Gold's special meeting (the " Meeting ") of shareholders in connection with the Arrangement will be held online at 11:00 a.m. (Toronto time) on November 26, 2021 in a virtual-only format, which will be conducted via live webcast available online using the TSX Trust virtual shareholder meeting platform at https://virtual-meetings.tsxtrust.com/1231 , password "kirkland2021" (case sensitive). Kirkland Lake Gold shareholders of record as of the close of business on October 13, 2021 will be eligible to vote at the Meeting.

THE DEADLINE TO VOTE YOUR SHARES IS 11:00 A.M. (TORONTO TIME) ON NOVEMBER 24, 2021

Shareholders who have questions or require assistance voting their shares, should contact Kingsdale Advisors, the Company's strategic shareholder advisor and proxy solicitation agent, by telephone at 1.877.659.1824 toll-free in North America (+1.416.867.2272 for collect calls outside of North America) or by e-mail at contactus@kingsdaleadvisors.com , or your professional advisor.

The Company's joint management information circular outlines the benefits for Kirkland Lake Gold shareholders and the risks related thereto and provides details about the Arrangement, including details on how shareholders can vote their Kirkland Lake Gold shares.

For a more detailed description of the Arrangement, readers should review the Company's joint management information circular and visit www.kl.gold/Agnico-Eagle--Kirkland-Lake-Gold-Merger .

ABOUT KIRKLAND LAKE GOLD LTD.

Kirkland Lake Gold Ltd. is a low-cost senior gold producer operating in Canada and Australia that is targeting 1,300,000 - 1,400,000 ounces of production in 2021. The production profile of Kirkland Lake Gold is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold's solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position, extensive management expertise and an overriding commitment to safe, responsible mining.

FOR FURTHER INFORMATION PLEASE CONTACT

Kirkland Lake Gold Ltd.

Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884
E-mail: tmakuch@kl.gold

Mark Utting, Senior Vice-President, Investor Relations
Phone: +1 416-840-7884
E-mail: mutting@kl.gold

Cautionary Note Regarding Forward-Looking Information

This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Kirkland Lake Gold with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and include information regarding: (i) expectations regarding timing of the Meeting, (ii) expectations regarding whether the proposed Arrangement will be consummated, (iii) expectations regarding the potential benefits and synergies of the Arrangement , (iv) expectations regarding Kirkland Lake Gold's financial strength and capital markets profile following completion of the Arrangement, (v) expectations regarding future exploration, development and growth potential for Kirkland Lake Gold's and Agnico Eagle's operations, and (vi) expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Kirkland Lake Gold's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Kirkland Lake Gold believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to consummate the Arrangement; the ability to obtain requisite court, regulatory and shareholder approvals and the satisfaction of other conditions to the consummation of the Arrangement on the proposed terms and schedule; the ability of Kirkland Lake Gold and Agnico Eagle to successfully integrate their respective operations and employees and realize synergies and cost savings at the times, and to the extent, anticipated; the potential impact of the Arrangement on exploration activities; the potential impact of the announcement or consummation of the Arrangement on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; the re-rating potential following the consummation of the Arrangement; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the Arrangement. This forward-looking information may be affected by risks and uncertainties in the business of Kirkland Lake Gold and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Kirkland Lake Gold with the Canadian securities regulators, including Kirkland Lake Gold's annual information form, financial statements and related MD&A for the financial year ended December 31, 2020, its interim financial reports and related MD&A for the period ended September 30, 2021 and its management information circular dated October 29, 2021 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 information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Kirkland Lake Gold 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 to be as anticipated, estimated or intended. Kirkland Lake Gold does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

Golden Independence Appoints Jeremy Poirier to the Board of Directors

Golden Independence Appoints Jeremy Poirier to the Board of Directors

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) ("Golden Independence" or the "Company") an exploration company focused on the development of its flagship advanced stage Independence property located adjacent to Nevada Gold Mine's Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada today announced the appointment of Mr. Jeremy Poirier to the Company's Board of Directors.

Mr. Poirier brings nearly two decades of capital markets experience in the natural resource and technology sectors. He has served in various senior officer and corporate development roles at exploration mining companies. From September 2016 through December 2019, Mr. Poirier was CEO of Bearing Lithium Corp. and was instrumental in the Company's acquisition of Li3 Energy. Prior to Bearing Lithium, Mr. Poirier held senior roles at Pure Energy Minerals Ltd. and is currently the CEO of Hilo Mining Ltd.

Keep reading... Show less
K9 Gold Confidently Awaits Analytical Results from Drilling Program on Property in Newfoundland's Gold Mining Hotbed

K9 Gold Confidently Awaits Analytical Results from Drilling Program on Property in Newfoundland's Gold Mining Hotbed

K9 Gold Corp. (OTC Pink: WDFCF) (TSXV: KNC) (FSE: 5GP) continues to learn a great deal from its inaugural drilling season on the company's vast Stony Lake Project, which is nestled comfortably within the suddenly popular Exploits Subzone Gold Belt in Central Newfoundland. But it's what the company hasn't learned yet that could be the most exciting piece of the early puzzle K9 Gold is developing from its recently ended 2021 drilling program.  It's often said that the waiting is the hardest part, so, what K9 Gold is expecting could prove to be well worth the wait.  The problem is that testing laboratories throughout Canada are overwhelmed with work from mining companies, both big and small, awaiting analytical results, and much of that work is coming from companies mining in the Exploits Subzone Gold Belt.

Waiting patiently in line for analytical data are K9 Gold's executives who, like their shareholders, are beaming with excitement for those results to be received by the company.  Data could confirm what the discovery of several necessary key factors during drilling are suggesting—and that is the potential for higher grade zones of gold mineralization.  These results are crucial to the company's next steps and will allow K9 Gold's team to further plan its drilling operations which are expected to commence after the Christmas break.

Keep reading... Show less
GoldON Acquires Springpole East Property in the Red Lake Mining District

GoldON Acquires Springpole East Property in the Red Lake Mining District

The Property adjoins First Mining Gold's Springpole Project one of the largest undeveloped gold deposits in Canada at 3.8Moz probable reserves

GoldON Resources Ltd. (TSXV: GLD) ("GoldON" or the "Company") is pleased to announce it has entered into an option agreement to acquire a 100% interest in the Springpole East property (the "Property") situated, primarily, in the Keigat Lake Area township of the Red Lake Mining District, Northwestern Ontario (See Figure 1).

Keep reading... Show less
Leocor Gold Completes Phase 1 Soil Campaign at Startrek Project, Gander Area of North East Newfoundland, Canada

Leocor Gold Completes Phase 1 Soil Campaign at Startrek Project, Gander Area of North East Newfoundland, Canada

(TheNewswire)

Leocor Gold Inc.

Vancouver, British Columbia - TheNewswire December 8, 2021 - Leocor Gold Inc. (the " Company " or " Leocor ") (CSE:LECR ) (CNSX:LECR.CN) ( OTC:LECRF ) ( FRA:LGO) is pleased to announce the completion of a soil sampling campaign, consisting of 2894 soils, on the Startrek Property, located near Gander, Newfoundland, Canada.

Keep reading... Show less
Granada Gold Mine Prepares to Extract Bulk Sample on Extension of High-Grade Zone on Mining Lease BM 813 in 2022

Granada Gold Mine Prepares to Extract Bulk Sample on Extension of High-Grade Zone on Mining Lease BM 813 in 2022

(TheNewswire)

Granada Gold Mine Inc.

Company has begun preparation for drilling and blasting for the extraction of new bulk sample on mineralized zone on BM 813

Keep reading... Show less
Green River Gold Corp. Provides Exploration Drilling Update at Its Quesnel Nickel/Cobalt/Talc Project in British Columbia

Green River Gold Corp. Provides Exploration Drilling Update at Its Quesnel Nickel/Cobalt/Talc Project in British Columbia

 Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to provide an update on its Initial Phased Exploration Drill Program at the wholly owned Quesnel NickelCobaltTalc Project in British Columbia, Canada.

Further to its news release of November 25, 2021, the Company is pleased to announce that since the drilling crew arrived on site, they have been drilling from talc outcroppings using a backpack drill. The experience of the drilling crew from Paradigm Drilling Ltd., combined with the soft nature of the talc mineralization has allowed the crew to drill several holes to depths of 20 meters.

The area being targeted with the drilling program is host to talc and nickel mineralization (see the Sovereign nickel showing, Minfile 093A 130). The area covered by these mineral rights was subject to an exploration program targeting the potential for a commercial talc deposit during the 1980's. The exploration resulted in the preparation of a preliminary talc mining plan in 1986.[1]

The drilling completed on the talc showing in the 1980's consisted of relatively shallow holes. Green River's goal for this preliminary part of the program is to confirm the results of the drilling from the 1980's and to expand the footprint of the talc occurrence discovered at that time. Drilling short holes will determine the grade and quality of the talc exposures, which outcrops at multiple locations in the project area. The Company will also drill deeper holes to determine the vertical extent of the talc mineralization. Depending on the results of the initial drilling, the Company expects to undertake additional drilling throughout the winter to further determine the extent of the talc mineralization.

One of the first holes that Green River drilled during this program appears to have intersected one of the drill holes from the 1980's. The Company was initially uncertain of the exact coordinates of the 1980's drill program. The accidental intersection of one of the original drill holes was an extremely unlikely occurrence, but it has given the Company great confidence that Green River is drilling from the exact location that was drilled in the 1980's. Drill results to this point mirror the reported results from the 1980's drilling.

Drilling with the backpack drill is continuing. To date, the core from the first five holes, totaling approximately 72 meters, has been transported to Quesnel and is in the process of being logged. From there it will be sent to the lab for assay. The following description of Drill hole D021-03 from Steve Kocsis, Qualified Person for the project, is indicative of what the early drilling results are showing.

"Drill hole DO21-03 was drilled at a 330° azimuth and -70° dip to a total depth of 16.76 m. From 0 to 13.4 m talc occurs in layers up to 12 cm thick and as brecciated fragments up to 2 cm wide. Talc makes up around 15% of the rock in this depth interval. From 13.4 to 15.85 talc occurs in layers up to 1.0 m thick and makes up around 80% of the rock in this depth interval. The rock was soft and washed away at depth interval 15.85 to 16.76 m and there was 0% core recovered. The soft rock was more than likely a high percentage of talc."

As successful as this drilling method has been, it is limited in its capabilities of recovering some friable formations. To date, our contractor has exceeded our expectations for core recovery considering the drilling method and ground conditions present.

Follow-up drilling with a larger drill rig is expected to begin in January. The Company will be able to explore potential talc mineralization to depths exceeding 100 meters versus the shallow exploration completed in the past and with the current round of drilling. The talc showing outcrops at several locations on the Company's claims, making drilling a relatively simple process and allowing for drilling throughout the winter.

The Quesnel Nickel/Cobalt/Talc Project is adjacent to the Company's Fontaine Gold Project. The two projects border Osisko Development Corp.'s Cariboo Gold Project, which contains 5 million ounces of gold and is expected to go into production late in 2023.

Quesnel Nickel/Cobalt/Talc Project Highlights:

There are 3 BC MINFILE occurrences as follows:

  • -  093A 013 - Sovereign Creek - developed prospect containing talc and magnesite, and a co-incident nickel sulfide showing.
  • -  093A 130 - Sovereign - showings containing talc and nickel sulfides.
  • -  093H 061 - R.T. - showing containing nickel, chromium, and cobalt.

Talc is a soft mineral used in a variety of industries. Talc is used in the production of plastics, ceramics, paint, paper, roofing, rubber, and for other industrial uses. The U.S. Geological Survey (USGS) indicates that total sales of talc by U.S. Producers in 2020 was about 430,000 tons valued at about US $100 million. The USGS estimates total mine production worldwide in 2020 was 5,800,000 tons with about 220,000 tons produced in Canada. To the best of the Company's knowledge, there are no talc mines in Western Canada.

In addition to acquiring more knowledge of the talc occurrences on the Property, the Company intends to drill using the larger rig to gain more knowledge of the potential for nickel and cobalt in the same general area as the talc. The Company will be concentrating on known and potential new nickel and cobalt targets with the plan to continue drilling with larger RC/DD rigs in 2022.

The recently completed UAV-MAG survey results over the Quesnel Nickel/Cobalt/Talc Project area indicates the presence of highly magnetic rocks co-incident with the interpreted surface exposure and down-dip projection of a favorable ultramafic rock assemblage. This is similar to the aeromagnetic response in the area of nickel-alloy mineralization found throughout the BC Decar District.

Kyle Townsend, Mine Manager for Green River Gold Corp. says; "The success of our modified backpack drilling technique is very encouraging. We have demonstrated our ability to obtain quality down hole data in a very cost effective manner while keeping our surface disturbance to almost nonexistent. As we move from the trial phase to the drilling phase, we are working to delineate the talc mineralization with enough data to confirm a mineral resource."

Perry Little, Green River Gold's President and CEO stated, "We are excited to see the early results from this drilling program appear to be very similar to the limited, but impressive, results from the 1980's that inspired the claim owners at the time to proceed to a feasibility study and preliminary mine plan. In addition to finding out more about the potential for a commercial talc deposit, the focus will be on nickel and cobalt. Preliminary metallurgical work completed in 1971 has suggested the presence of nickel sulfide or nickel alloy minerals. One focus in the initial phase of exploration is to prioritize the multiple Nickel/Cobalt targets within the project area for a follow-up RC/DD drill program and to expand the areas of mineralization in 2022."

Regional Exploration Plan:

Additionally, there will be some upcoming exploration plans for the Fontaine Lode Gold Project, which is contiguous to the Quesnel Nickel/Cobalt/Talc Project and also contiguous to Osisko Development Corp.'s Cariboo Gold Project. Green River is also awaiting assay results from the recent grab sampling program completed at the Quesnel Nickel/Cobalt/Talc Project.

Qualified Person:

Stephen P. Kocsis is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.

About Green River Gold Corp.

Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned, high-grade Fontaine Gold Project, Quesnel Nickel/Cobalt Project and Kymar Silver Project which are located in renowned mining districts in British Columbia. The properties straddle an 18km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.

The Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,440 hectares, along the southeast flank of Mount Catherine.

For more information contact:

Green River Gold Corp.
Mr. Perry Little - President and Chief Executive Officer
perry.little@greenrivergold.ca
780-993-2193

Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.

Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumption. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.

The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

Keep reading... Show less

Top News

Related News