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Kirkland Lake Gold Announces Update to Fosterville News Release of August 30th, Significantly Increases Grade of Key Lower Phoenix Intercept

  • Revised underground drill assay result increases the grade of VG ( 1) intercept in hole UDH4051 located down-plunge of Swan Zone, 500 m (1) from deepest Mineral Reserves
    • Key intercept: 51.7 g/t ( 1) over 2.6 m (ETW (1) 2.2 m) revised to 207 g/t (1) Au over 2.6 m ( 1) (ETW (1) 2.2 m ( 1) )

1) Abbreviations include: VG Visible Gold; m metres; gt grams per tonne gold; ETW estimated true width.

TORONTO, Nov. 05, 2021 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (" Kirkland Lake Gold " or the " Company ") (TSX:KL) (NYSE:KL) (ASX:KLA) today announced a revised drill intercept for one drill hole reported in the Lower Phoenix System at Fosterville in the news release issued on August 30, 2021 (the "August 30 th News Release"). All other intercepts reported that August 30 th News Release are unchanged. The drilling results and collar information for drill hole UDH4051 are presented in Tables 1 and 2.

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Kirkland Lake Gold Reports Record Net Earnings in Q3 2021

Kirkland Lake Gold Ltd. ("Kirkland Lake Gold" or the " Company ") (TSX:KL) (NYSE:KL) (ASX:KLA) today announced the Company's financial and operating results for the third quarter ("Q3 2021") and first nine months ("YTD 2021") of 2021. The results included record quarterly earnings driven by strong operating results, including record quarterly production and all-in sustaining costs ( 1) at Detour Lake and continued grade outperformance at Fosterville. The Company also reported solid earnings growth in YTD 2021 compared to the first nine months of 2020 ("YTD 2020"), resulting largely from increased revenue. The Company's full financial statements and management discussion & analysis are available on SEDAR at www.sedar.com and on the Company's website at www.kl.gold . All dollar amounts are in U.S. dollars, unless otherwise noted.

Tony Makuch, President and CEO of Kirkland Lake Gold, commented: "Q3 2021 was a quarter of substantial progress, highlighted by record quarterly earnings, solid year-over-year production growth as well as unit costs significantly better than full-year guidance. We also released encouraging exploration results at all three of our cornerstone assets and remained on track with our key growth projects, including the #4 Shaft project at Macassa. A clear demonstration of the success of our exploration programs came in early September when we announced an increase of 10.1 million ounces in open-pit Measured and Indicated ("M&I") Mineral Resources at Detour Lake. Tripling the open-pit M&I Mineral Resources is a critical milestone for the operation and is expected to contribute to strong growth in Mineral Reserves as we make further progress towards transforming Detour Lake into one of the world's largest and most profitable gold mines.

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Kirkland Lake Gold Reports New Wide, High-Grade Intersections at Detour Lake

Results confirm and expand mineralization beyond Mid-Year 2021 Mineral Resource Estimates

Drilling confirms and identifies new mineralization inside recently updated resource pit shells

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