TORONTO, ONTARIO--(Marketwired - May 15, 2017) - Kirkland Lake Gold Ltd. ("Kirkland Lake Gold" or the
"Company") (TSX:KL) (OTCQX:KLGDF) announces that it has received acceptance from the Toronto Stock Exchange (the
"TSX") with respect to a normal course issuer bid (the "NCIB") to purchase up to 15,186,571 common shares of the Company (the
"Common Shares") representing 10% of the current issued and outstanding Common Shares in the public float as at May 11, 2017. As
at May 11, 2017 the Company had 208,930,964 issued and outstanding Common Shares.
Purchases of the Common Shares pursuant to the NCIB may be made through the facilities of the TSX and/or alternative Canadian
trading systems, commencing on May 17, 2017 and ending on May 16, 2018, or such earlier time as the NCIB is completed or
terminated by the Company. Any purchases made pursuant to the NCIB will be made in accordance with the rules of the TSX and will
be made at market price at the time of purchase.
The average daily trading volume for the six months' period ended April 30, 2017 was 1,178,809. Under the NCIB, the maximum
number of securities that the Company may purchase on a daily basis, other than block purchase exemptions, are 294,727 Common
Shares. The actual number of Common Shares purchased for cancellation and the timing of such purchase will be determined by the
Company. There cannot be any assurance as to how many Common Shares will ultimately be purchased for cancellation under the
NCIB.
The Board of Directors of Kirkland Lake Gold believes that the underlying value of the Company is not reflected in the current
market price of its Common Shares, and may not be so reflected at certain times during the course of the NCIB. Accordingly, it
has been determined that the repurchase of Common Shares pursuant to the proposed NCIB presently constitutes an appropriate use
of financial resources and would be in the best interest of Kirkland Lake Gold shareholders.
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a mid-tier gold producer targeting 530,000 - 570,000 ounces in Tier 1 mining jurisdictions of
Canada and Australia. The production profile of the company is anchored from two high-grade, low-cost operations, including the
Macassa Mine located in Northeastern 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 with extensive management and operational expertise.
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 the proposed timing associated with the NCIB and the anticipated effects
thereof.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect KL 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 of Kirkland Lake Gold to
successfully integrate the operations and employees of its Canadian and Australian operations, and realize synergies and cost
savings, and to the extent, anticipated; the potential impact on exploration activities; the potential impact on relationships,
including with regulatory bodies, employees, suppliers, customers and competitors; the re-rating potential following the
consummation of the merger; changes in general economic, business and political conditions, including changes in the financial
markets; changes in applicable laws; and compliance with extensive government regulation. 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, including
Kirkland Lake Gold's annual information form dated December 31, 2016, financial statements and related MD&A for the first
quarter ended March 31, 2017 and their interim financial reports and related MD&A for the period ended March 31, 2017 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 do not assume any obligation, to update this forward-looking information
except as otherwise required by applicable law.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website www.klgold.com