Kirkland Lake Gold - European Marketing - April 2015

A PROFITABLE FUTURE

European Marketing April 13-22, 2015

A RICH HISTORY

TSX/AIM:KGI

Forward Looking Statements Cautionary Note Regarding Forward Looking Statements.

This presentation 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”, “should”, “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 Presentation include, but

may not be limited to; statements regarding the Company’s guidance for fiscal 2015 including ounces

produced and grade assumptions, cash operating cost per ounce and AICC, sustaining capital, revenue,

operating cash flow and free cash flow generation; the ability to bring more higher grade stopes online from

the 5400 level and access to the 5600 level and the timing thereof; the exploration programs and the results

and timing thereof; and production and grade guidance for fiscal 2016 and 2017. 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 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 are discussed in length in the Company's annual

Management's Discussion and Analysis and Annual Information Form for the year ended April 30, 2014. and the

Company’s Management's Discussion and Analysis for the interim period ended January 31, 2015 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 to 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.

TSX/AIM:KGI www.klgold.com 2

Investment Highlights

Located in Ontario, one of the safest and lowest risk mining jurisdictions globally

Attractive NI43-101 high grade reserve and resource profile with a long mine life

Growing annual production, declining cost base and improving unit costs

Company returning to profitability and free cash flow

Significant exploration potential with organic growth

Potential upside with a higher gold price and a weaker Canadian dollar

www.klgold.com 3 TSX/AIM:KGI

Experienced and Diverse Board of Directors and Management Team

Strong Leadership

Eric Sprott, Chairman of the Board (Non-executive Director)

Dawn Whittaker, LLB (Non-executive Director)

Pamela Klessig, P.Geo (Non-executive Director)

John Thomson, CA

George Ogilvie, P.Eng

Barry Cooper, B.Sc., MBA (Non-executive Director)

Jeffrey Parr, CA, BA, MBA (Non-executive Director)

Barry Olson, M.Sc. (Non-executive Director)


George Ogilvie, P.Eng. – President & CEO

John Thomson – Executive VP & CFO

Chris Stewart, P.Eng. – VP Operations

Board of Directors

Executive Management

Financial Position

CASH C$76.6 million1

DEBT C$120 million convertible debentures

KGI.DB: 6% coupon/ $15.00 strike

C$54.5MM mature Jun/2017

KGI.DB.A: 7.5% coupon/ $13.70 strike

C$65.5MM mature Dec/2017

April 1, 20153 – KGI announces NCIB for

both issues of the convertible debentures.

ROYALTY 2.5% NSR Franco Nevada Corporation

option to buyback 1% by October 31, 2016, at a cost

of $36MM less any money paid against the 1%

52 Week Performance2

HIGH C$6.19

LOW C$2.51


1As at February 18, 2015 – Upon Close of Bought Deal Financing (see Appendix for more details on Financing), 2 As at March 11, 2015 3 See press release dated April 1, 2015, for details on the NCIB

CAPITAL STRUCTURE 2

ISSUED SHARES 80,016,617

Stock Options 4,244,800

Convertible Debentures 8,869,829

FULLY DILUTED 93,017,046

MARKET CAP ~408 Million2

Major Shareholders (~50%) 2

Resolute Funds (11%)

Eric Sprott (10%)

Columbia Wanger Asset Management LLC (8%)

Equinox Partners (7%)

Van Eck Associates Corporation (5%)

Harry Dobson (4%)

ABC Funds (4%)

60%

70%

80%

90%

100%

110%

120%

130%

140%

150%

Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15

Kirkland Lake (TSX:KGI) Gold Price (C$ / oz)

KGI Share Price vs Gold Price

15%

(1%)

Strategic Review

Concluded

Flow Through

Financing

Q1/15 Results

Drilling

Results

Q2/15 Production

Results

MRMR Update

Q4/14 Results

BOD

Appointment

& Financing


Q2/15 Results

3 Year Production

Guidance

Q1/15

Production

Drilling

Results

Q3/15 Production

Results

Drilling

Results

Close $35MM

Financing

Kirkland Lake Camp


The Kirkland Lake gold camp

has been producing gold for

over 100 years.

Almost 25 Moz’s has been

produced to date, from seven

mines.

Based on grade, it is one of the

richest gold camps in the

world.

One of the Highest Grade Gold Mines In The World Select Group of Producing Assets with +1Moz’s in Reserves

Mine Operator Location Gold Grade Reserves MRMR

g/t Au Date

Macassa Mine Complex Kirkland Lake Gold Canada (Ontario) (0.56 opt) 19.2 1.5 Moz Dec/2014

Turquoise Ridge Barrick USA (Nevada) 16.9 4.5 Moz Dec/2014

Pogo Gold Sumitomo Corp. USA 12.5 4.9Moz Dec/2013

Gosowong Newcrest Indonesia 12.0 1.2Moz Dec/2014

Moab Khotsong AngloGold Ashanti South Africa 10.0 6.1Moz Dec/2013

Mponeng AngloGold Ashanti South Africa 10.0 14.6Moz Dec/2013

Red Lake Gold Goldcorp Canada 10.0 2.1Moz Dec/2014

TauTona AngloGold Ashanti South Africa 9.1 1.4Moz Dec/2013

Kupol/Dvoinoye Kinross Russia 8.5 2.1Moz Dec/2014

19.2 16.9 12.5 12.0

10.0 10.0 10.0 9.1 8.5

0.05.0

10.015.020.025.0

Gra

de g

/t

Reserve Grades


Company Source – This is a select group of Companies that illustrate producing mines only with mineral reserves in excess of 1Moz’s (gold only, no equivalent Au ounces shown)

Reserve & Resource Update (Resources are Exclusive of Reserves)

• Reserves increased to 1.5 Moz’s (2.6 Million tons @ 0.56 opt)

• Reserves in the SMC increased to 0.9 Moz’s (1.5 Million tons @ 0.65 opt)

5.6% Increase in Reserves

• Reserve grade increased to 0.56 opt or 19.2 g/t

12.0% Increase in Reserve

Grade

• Inferred resources increased to 1.2 Moz’s (2.1 Million tons @ 0.56 opt)

3.9% Increase in Inferred Resources

The above reserve and resource estimates have been audited and verified by the Company’s independent reserve and resource

engineer, Glenn R. Clark, P. Eng., of Glenn R. Clark & Associates Limited. The technical contents of this presentation have been

reviewed and approved by the Company’s internal QP, Mr. Stewart Carmichael, Manager of Exploration.

See Appendix for more disclosure on MRMR statement which is as of December 31 ,2014.


Reserves & Resources (Resources are Exclusive of Reserves)

See Appendix for more disclosure on MRMR statement which is as of December 31 ,2014.

Based on current level of Reserves and 70% conversion of Resources

(@ 200,000 oz p.a), KGI has a 14 year Mine Life


Property Wide

Mineral Reserves (P&P) Includes the ‘04 & Main Break and SMC

1.5 Moz’s 2.6M tons @ 0.56 opt

(19.2 g/t )

Mineral Resources (M&I) Includes the ‘04 & Main Break, SMC, Near Surface and other

2.0 Moz’s 4.2 M tons @ 0.49 opt

(16.8 g/t )

Mineral Resources (Inferred) Includes the ‘04 & Main Break, SMC, Near Surface and other

1.2 Moz’s 2.1 M tons @ 0.56 opt

(19.2 g/t)

SMC

0.9 Moz’s 1.5 M tons @ 0.65 opt

(22.3 g/t )

0.9 Moz’s 1.4 M tons @ 0.66 opt

(22.6 g/t )

0.9 Moz’s 1.4 M tons @ 0.65 opt

(22.3 g/t )

Breakout of SMC only

South Mine Complex

• 5400L has reserve grade @ 0.61 opt (20.9 gpt); 5600L has reserve grade @ 0.77 opt (26.4 gpt)

• 5700 L has reserve grade @0.99 opt (33.9 gpt)

• Production from 5400L and 5600L allows delineation drilling of resources, especially below 5600L

• Remains Open at Depth and Across Strike

5025 Level

P+P 28,000 Tons @ 0.48 oz/ton 14,000 Oz’s

M+I 74,000 Tons @ 0.42 oz/ton 32,000 Oz’s

5300 Level

P+P 561,000 Tons @ 0.47 oz/ton 261,000 Oz’s

M+I 245,000 Tons @ 0.43 oz/ton 107,000 Oz’s

5400 Level

P+P 370,000 Tons @ 0.61 oz/ton 226,000 Oz’s

M+I 174,000 Tons @ 0.42 oz/ton 72,000 Oz’s

5600 Level

P+P 239,000 Tons @ 0.77 oz/ton 183,000 Oz’s

M+I 186,000 Tons @ 0.63 oz/ton 117,000 Oz’s

Original Two

Mining Horizons

Third Level

Started

May 2014 Currently in

Development

for FY 2016

OPEN

#3 S

HA

FT

#2 W

INZ

E


5025L

5300L

5400L

6600L

5600L

4750L

Development Legend

Completed

F2015 Development

F2016 Development OPEN

OPEN 5700 to 6600 Level

P+P 252,000 Tons @ 0.99 oz/ton 250,000 Oz’s

M+I 709,000 Tons @ 0.83 oz/ton 593,000 Oz’s

February Production Update

Tons Milled Head Grade Recovery Rate

32,682 0.52 opt or 17.8 g/t 96.8%

Recovered Ounces 16,485

• More efficient transition between mining cycle (ore production to paste fill)

• Better availability of mobile fleet

• Jumbo gaining access to ore headings

• Improvements in maintenance of battery operated equipment

• Better communication and overall improvement in teamwork


Q3 F2015 Production Update

Q1 F2015

38,543

93,880

0.45

Q2 F2015

38,335

92,146

0.41

Q3 F2015

39,722

91,148

0.44

YTD F2015

116,600

277,174

0.43

Guidance

F2015

153 – 157

Koz’s*

0.37

Ounces

Sold

Tons

Milled

Head Grade

(opt)

• Third stope (5412) brought into production on 5400 level during Q3

• 2 Electric Hydraulic Jumbo’s fully operational

• Main ramp towards the 5600 level progressing well and is on schedule


* Production guidance revised upwards from 140,000 – 155,000 ounces to 153,000 – 157,000 ounces on March 11, 2015

Monthly Production Profile

• Cut-off Grades Raised from 0.18 opt to 0.22 opt.

• Stopped Mining “Incremental Tons”

• Implemented Strict Ore/ Waste Segregation UG

• Increasing UG Delineation Drilling in SMC

• Employing more UG Geologists

• Assay Lab is Manned 24/7

• Restructuring Organization

• Implementing Leadership Training

• Looking to Upgrade MIS


0.34

0.31 0.30

0.26

0.29

0.45

0.39

0.34

0.37

0.34

0.47

0.51

0.39

0.43

0.41

0.47

0.44 0.42

0.52

-

0.10

0.20

0.30

0.40

0.50

0

5,000

10,000

15,000

20,000

Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb

Oz Recovered

Head Grade

F2015

F2015 YTD Average 0.44 opt

Hea

d G

rad

e (

Ou

nc

es

Pe

r To

n)

Go

ld P

rod

ucti

on

(O

un

ce

s)

0.37

0.40

0.37

0.32

0.41

0.37

0.31

0.33

0.37 0.39

0.41

0.00

0.05

0.10

0.15

0.20

0.25

0.30

0.35

0.40

0.45

-

50,000

100,000

150,000

200,000

250,000

07 08 09 10 11 12 13 14 15 16 17

Go

ld O

un

ce

s

Oz Recovered Guidance Head Grade Linear (Oz Recovered)

Fiscal Year

Previous Guidance

Annual Production Profile

Expectation Gap

• Guided Grades for F2015-F2017 are Based on Historic Achievements

• Fiscal YTD Actual Head Grade is 0.43 opt

• Production guidance based on 1,150 tpd, 96% mill recovery and the guided grades for each respective year


Hea

d G

rad

e (

Ou

nc

es

Pe

r To

n)

= 200 employees

Q3 Results

Q3/15 Vs Q3/14

YTD Results

F2015 Vs F2014

CO

ST

S

Cash Cost Per Ton $328

US$281

-5%

-13%

$340

US$302

0%

-7%

Cash Operating Cost Per

Ounce

$766

US$656

-30%

-36%

$813

US$728

-26%

-32%

All In Cash Costs $1,249

US$1,070

-35%

-40%

$1,289

US$1,153

-38%

-42%

SA

LES

Gold Sales 39,722 +18% 116,600 +23%

Average Sales Price $1,371 0% $1,389 0%

Revenues $54.5MM +18% $161.9MM +24%

CA

SH

FLO

W

Cash Flow from Operations $23.7MM +85% $57.3MM +59%

Free Cash Flow $11.6MM NA $22.8MM NA

Q3 & YTD F2015 Financial Highlights

- All US$ equivalents are converted at the average CAD to USD exchange rate during the reporting period.

- See Pg. 23 for fiscal 2015 guidance on certain financial metrics provided above and Pg.24 in the appendix for further financial results.


0.26

0.29 0.45

0.39 0.34

0.37 0.34

0.47 0.51

0.39 0.43

0.41 0.47 0.44

0.42

-

0.10

0.20

0.30

0.40

0.50

0.60

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

NOV DEC JAN FEB MAR APR MAY2014

JUN JUL AUG SEP OCT NOV DEC JAN

AICC per ounce Produced - 15 month trend

Production Capital Development PP&E Corporate Exploration Royalties Head Grade

AICC Achieved Over Past 15 Months All amounts stated are in Canadian dollars

• 16% Reduction in Labour Force and Cancelled Incentive Programs (e.g. home loan assistance and travel)

• Major Capital Projects (PP&E) Completed in January 2014


Co

st

in C

$ p

er

Ou

nce P

rod

uced

H

ead

Gra

de (O

un

ces P

er T

on

)

F2014 F2015

$1,073 $1,119

$836

$1,244

$720 $614

$947 $924 $809

$684

$931

$728

$1,250

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

$2,200

FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN Q4E

Production Capital Development PP&E Corporate Exploration Royalties

AICC Projection for F2015 All amounts stated are in Canadian dollars

• Projection Based on Assumptions of 1,150 tpd, 0.37 opt and 96% Mill Recovery

• KGI now has three consecutive quarters of Free Cash Flow generation

• AICC excludes any mining and income tax (of which the Company only pays a nominal amount in mining taxes)


F2015

Co

st

in C

$ p

er

Ou

nce P

rod

uced

F2015_YTD Average Sales Price C$1,389

F2015_YTD AICC C$1,289

Capital Expenditures

• Project Capital was Completed in January 2014

• C$9M in Capital Development of 5400L and SMC Main Decline to 5600L Spent in FY15

• F2015 Capex reduced by $5MM to $53MM after Q2, and down to $43MM after Q3

0

10

20

30

40

50

60

70

80

90

100

2010 2011 2012 2013 2014 2015E 2016E 2017E

C$ M

illi

on

s

Mineral Properties PP&EESTIMATED

9.7

22.4 30.9 45.8 46.9 55.0 43.0 51.0 51.0

28.9

24.5 44.0

29.6

6.8

7.0 7.0


Exploration Potential In A Historic Camp


KGI owns five former

producing high grade

mines

Historical production

of ~22 Moz’s of gold

Average head grade

of 0.44 opt or 15.1 g/t

Currently mining and

exploring on one of

these five targets.

Current Underground and

Surface Drilling Targets

SMC Underground Drilling


UG DRILLING • SMC continues to be expanded

• Multi-ounce intersections

• 3 drills turning underground

• Open in multiple directions

53-2493 (NSZ)

1.85 opt/ 11.6 feet (63.43 gpt/ 3.5 metres)

53-2597 (NSZ)

0.36 opt/14.7 feet (12.34 gpt/ 4.5 metres)

53-2595 (NFZ)

3.55 opt/ 11.4 feet (121.72 gpt/ 3.5 metres)

‘04 Break Underground Drilling


Selected Highlights

DH 34-666 2.53 opt/ 2.4 feet

(86.75 g/t over 0.7 metres)

DH 34-668 0.80 opt/ 4.4 feet

(27.43 g/t over 1.3 metres)

See press release dated February 23, 2015

Near Surface Exploration Target

• Near surface mineralization is within 2 Km’s of mill

• Mill has excess capacity of +/- 1,000 tpd

• Mineralization from 100’ to 1,000’ below surface

• Open across strike

• M&I 3300,000 tons @0.34opt (11.7gpt) 112,000 oz

• Infer. 100,000 tons @0.42opt (14.4gpt) 42,000 oz


Outlook for F2015

Guidance Metric YTD 2015

Actual

Revised

Guidance

$800 – 850/ Oz Cash Operating Cost Per Ounce $813

US$723 No Change

$1,250 - 1,350/ Oz AICC Per Ounce Produced $1,289

US$1,144 No Change

$53 million* Sustaining CAPEX $36 million $50 million

$200 million Revenue $162 million $218 - $222 million

$50 - 60 million Cash Flow from Operations $57 million $70 - $75 million

$15 - 20 million Free Cash Flow Generation $22 million $30 - $35 million

All amounts stated are in Canadian dollars


* Capital was revised from $58 million to $53 million on October 31, 2014, and revised to $50 million on January 31, 2015

APPENDIX

Notes, additional disclosure and other information


Analyst Coverage

Firm Analyst

Dundee Securities Joe Fazzini

CIBC World Markets Cosmos Chiu

Macquarie Capital Markets Michael Siperco

National Bank Financial Raj Ray

BMO Capital Markets Brian Quast

Clarus Securities Jamie Spratt

PI Financial Philip Ker

Firm Analyst

M Partners Derek Macpherson

Pareto Securities John McClintock

Mirabaud Securities Richard Morgan

Panmure Gordon & Co Alison Turner

Investec Bank Hunter Hillcoat

Very Independent Research John Tumazos

KIRKLAND LAKE GOLD IS FOLLOWED BY THE ANALYSTS LISTED ABOVE. THIS LIST IS PROVIDED FOR INFORMATION PURPOSES ONLY AND IS

SUBJECT TO CHANGE AS COVERAGE IS ADDED OR DROPPED BY A FIRM.

OPINIONS, ESTIMATES OR FORECASTS REGARDING KIRKLAND LAKE GOLD'S PERFORMANCE THAT ARE MADE BY THESE ANALYSTS ARE THEIRS

ALONE AND DO NOT REPRESENT THE OPINIONS, ESTIMATES OR FORECASTS OF KIRKLAND LAKE GOLD OR ITS MANAGEMENT.

KIRKLAND LAKE GOLD DOES NOT IMPLY ITS ENDORSEMENT OF, OR CONCURRENCE WITH, SUCH INFORMATION, CONCLUSIONS OR

RECOMMENDATIONS AND TAKES NO RESPONSIBILITY FOR MONITORING, SUPPLEMENTING OR CORRECTING ANY INFORMATION OR FORECASTS

PROVIDED BY THE ANALYSTS.


F2014 & Q3 F2015 Financial Results

Financial FY2015

YTD

FY2014

YTD Y/Y

Change Q3/15 Q2/15 Q3/14

Q3/15

vs.

Q2/15

Q3/15

vs.

Q3/14

Gold Sales

(ounces) 116,600 94,502 +23% 39,722 38,335 33,719 +4% +18%

Average Price Sold

(per ounce)

$1,389

US$1,243

$1,385

US$1,348

0%

- 6%

$1,371

US$1,175

$1,395

US$1,262

$1,369

US$1,280

-2%

-7%

0%

-8%

Revenue (000’s) 161,953 84,737 +24% 54,471 53,479 46,165 +2% +18%

Cash Operating

Cost per Ton

Produced

$340

US$302

$340

US$324

0%

-7%

$328

US$281

$350

US$317

$347

US$324

-6%

-11%

-5%

-13%

Cash Operating

Cost per Ounce

Produced

$813

US$723

$1,109

US$1,073

-26%

-32%

$766

US$656

$889

US$804

$1,094

US$1,023

-14%

-18%

-30%

-36%

All-in Cash Cost

(“AICC”) per Ounce

Produced

$1,289

US$1,144

$2,102

US$2,033

-38%

-42%

$1,249

US$1,070

$1,374

US$1,243

$1,923

US$1,797

-9%

-14%

-35%

-40%

All amounts stated are in Canadian dollars unless otherwise stated


- All US$ equivalents are converted at the average CAD to USD exchange rate during the reporting period.

- See Pg. 23 for fiscal 2015 guidance on certain financial metrics provided above

C$35MM Bought Deal Offering


Shares Issued Price

Gross Proceeds

C$30MM Offering 6,900,000 $4.35 $30MM

Over-allotment* 1,035,000 $4.35 $ 5MM

Total 7,935,000 $4.35 $35MM

Notes: - Over-allotment was exercised in full upon closing - Proceeds will be used to strengthen the balance sheet and for general

corporate purposes.

Expansion Capital

• Hoisting system capable of hoisting 3,600 tpd

• Mary-Anne Compartment installed in Shaft providing service cage

• Mill upgraded to handle 2,200 tpd

• Underground infrastructure and battery equipment in place for SMC


Reserve & Resource Estimates Resources are exclusive of Reserves

Grade Grade Au Grade Grade Au Grade Grade Au

opt g/t (000's) opt g/t (000's) opt g/t (000's)

'04 & Main Break 545 0.43 494 14.7 236 583 0.48 529 16.5 278 1,128 0.46 1023 15.8 514

South Mine Complex 346 0.51 314 17.5 177 1,120 0.69 1016 23.7 773 1,467 0.65 1,331 22.3 949

Macassa Mine Complex 891 0.46 808 15.8 412 1,703 0.62 1,545 21.3 1,051 2,595 0.56 2,354 19.2 1,463

Proven

Tonnes

(000's)

Tons

(000's)

Tonnes

(000's)

ZoneProbable Proven & Probable

Tons

(000's)

Tonnes

(000's)

Tons

(000's)

MINERAL RESERVES - As at December 31, 2014

Note: Columns may not add due to rounding. Macassa Mine Complex reserves the ’04 & Main Break and the SMC.

MINERAL RESOURCES - As at December 31, 2014

Grade Grade Au

opt g/t (000's)

04 & Main Break 485 0.41 440 14.1 201

SMC 1,358 0.65 1,232 22.3 876

Near Surface Target 100 0.42 91 14.4 42

Property Wide 2,114 0.56 1,918 19.2 1,777

ZoneTons (000's) Tonnes (000's)

InferredNote: Columns may not add due to rounding. Property Wide resources include the ’04 &

Main Break, SMC, Near Surface Target, as well as peripheral resources blocks (such as

the Lakeshore Ramp).


Grade Grade Au Grade Grade Au Grade Grade Au

opt g/t (000's) opt g/t (000's) opt g/t (000's)

04 & Main Break 1063 0.4 964 13.7 430 1148 0.42 1041 14.4 483 2,211 0.41 2006 14.1 913

SMC 33 0.37 30 12.7 12 1377 0.67 1249 23.0 917 1,410 0.66 1279 22.6 929

Near Surface Target - - - - - 330 0.34 299 11.7 112 330 0.34 299 11.7 112

Property Wide 1106 0.4 1003 13.7 447 3,096 0.52 2,809 17.8 1,599 4,202 0.49 3,812 16.8 2,047

Measured

Tons

(000's)

Tonnes

(000's)

ZoneIndicated Measured & Indicated

Tons

(000's)

Tonnes

(000's)

Tons

(000's)

Tonnes

(000's)

QP Info and Notes to Reserves & Resources The reserve and resource estimates have been audited and verified, and the technical disclosure in thie press release dated April 13, 2015, has been

approved, by the Company’s independent reserve and resource engineer, Glenn R. Clark, P. Eng., of Glenn R. Clark & Associates Limited. Mr. Clark

is a ‘qualified person’ under National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators. The

report detailing the December 31, 2014, reserve and resource estimates will be filed on SEDAR (www.sedar.com) within 45 days of this press release.

See ‘Notes for Reserves and Resources’ below for key assumptions, parameters and methods used to estimate the foregoing reserves and

resources.

Notes for Reserves and Resources:

The reserves and resources have been classified according to the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on

Mineral Resources and Reserves: Definition and Guidelines (December 2005).

1. The reserves and resources are estimated using the polygonal method.

2. Resources do not include reserves.

3. All intersections are calculated to a 6.0 foot minimum horizontal mining width for structures dipping at greater than 45 degrees. The minimum

mining height for structures dipping less than 45 degrees is 9.0 feet.

4. Dilution is added to reserves at varying rates depending on the mining method, and the width of the ore. The average dilution of the reserves at

December 31, 2014, is 27% at 0.02 opt, marginally up from an average of 24.0% the previous year. Long-hole stopes are diluted by anywhere

between 50-100% (mostly 50%). Cut and fill stopes are diluted by anywhere between 10-50%.

5. All higher grades are cut to 3.50 opt. Based on a statistical analysis completed by Scott Wilson Roscoe Postle Associates Inc. in 2007, the

Company has implemented various higher grade cutting factors for four zones in the South Mine Complex. These four zones are the New South

Zone (7.20 opt), Lower D North (9.30 opt), Lower D North Footwall (4.80 opt), and the #7 and #7 HW Zones (6.40 opt). Cut-off grades of 0.22 opt

and 0.18 opt are used for reserve and resource calculations respectively, depending on the location, and economics of the block. Generally, a cut-

off of 0.22 opt is required on a whole-block basis to achieve profitability and reserve classification. It is possible to have sub-blocks within an ore

reserve block that assay less than any cut-off which have been incorporated for mining or geotechnical reasons. Ore blocks that grade between

0.18 opt and the cut-off of 0.22 opt have been classified as resource. The cut-off grade for near-surface resources (surface to -1,000 foot

elevation) is 0.12 opt. An internal report completed by Roscoe Postle and Associates in October 2014, suggest that the cutting factor for

mineralization on the Amalgamated Trend be set at 2.50 opt. This grade capping was implemented by the Company and incorporated in the

estimates for 2014.

6. The area of influence of the proven and measured categories are 30 feet from development chip samples, probable and indicated categories are

50 feet of radius from a known sample point (drill holes) and inferred is another 50 feet of influence (between 50 – 100 feet).

7. A 94.2% tonnage recovery is used. Continuity of the veins appears very good.

8. The assumptions used include CAD$1,350.00 (US$1,200) per ounce of gold.

9. The Company is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing or other issue that may materially affect

its estimate of mineral resources.

10. Mineral resources which are not mineral reserves do not have demonstrated economic viability.


http://www.sedar.com/

WWW.KLGOLD.COM

Suzette N Ramcharan, CPIR

Director of Investor Relations

+1-416-840-7884

Mobile: +1-647-284-5315

[email protected]

Tim Blythe / Halimah Hussain

(Blytheweigh)

Investor Relations / PR

+44-207-138-3204

[email protected]/

[email protected]

TSX /AIM: KGI

mailto:[email protected]



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Kirkland Lake Gold - European Marketing - April 2015

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