Kirkland Lake Gold Announces Continued Strong Performance at Fosterville and Management Changes TORONTO, ONTARIO--(Marketwired - May 23, 2017) - Kirkland Lake Gold Ltd. ("Kirkland Lake Gold" or the "Company") (TSX:KL)(OTCQX:KLGDF) is pleased to provide an update of progress at its Fosterville Mine and recent management changes.
At the Fosterville Mine in Victoria, Australia, ore grades continue to significantly exceed model expectations in some locations within Lower Phoenix where key structures are in close spatial association. In-spite of the planned mill downtime in May, the Fosterville Mine is projected to produce between 70,000 and 80,000 ounces of gold during Q2 2017. The mine is well-positioned to deliver the recently increased annual production guidance of 200,000 - 225,000 ounces of gold for 2017.
The Company announces the departure of Darren Hall, Chief Operating Officer, from its management team effective today, although Darren will continue to provide transitional support until June 30, 2017. There is a strong operations management group at the Australian and Canadian Operations, and the Company expects this to be a smooth transition to a more country focused management.
In addition, the Company announces the resignation of Ryan King, Vice President of Investor Relations from its management team, effective today. During the interim, all Investor Relations inquires can be directed to Darin Smith, Director of Corporate Development.
Darin Smith is a new management appointment for Kirkland Lake Gold and will be based out of the Toronto Corporate office, working alongside the Executive Team on strategic long range planning and development. Darin is an analytical mining finance professional and brings over fifteen years of experience in financial analysis and corporate strategy in the mining sector. Most recently, Darin was engaged in a Business Development role at Antofagasta Minerals and prior to that worked at BMO Capital Markets, as a Vice President in the Global Metals and Mining Group. Darin holds a Bachelor of Science in Mining Engineering and a Masters in Management Analytics, both from Queen's University.
Tony Makuch, President and CEO of Kirkland Lake Gold stated: "On behalf of the Company, I would like to thank Darren Hall for his contributions and leadership following the business combination and integration of Newmarket Gold. I would also like to thank Ryan King for his contributions to our Investor Relations program and commitment to our shareholders through the integration of Newmarket Gold. We wish them both continued success in their future endeavors. Further, I welcome Darin Smith to the management team at Kirkland Lake Gold. Darin's experience and skillset will be central in evaluating potential accretive opportunities to maximize the most efficient use of the Company's resources."