Kirkland Lake Gold Inc.

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Recent Developments

Latest Exploration Drilling: May 2011 (Q1 FY 2012)

Step Out Holes to the West Extend Mineralization 2,000 Feet

Exploration Drilling Program Plan View

Kirkland Lake Gold President Brian Hinchcliffe's presentation at the Denver Gold Forum

Please click here to view Company President and CEO Brian Hinchcliffe's presentation at the Denver Gold Forum.

Exploration Plans for Fiscal 2012

Although reserves and resources for the Company will be based on a calendar year end, the exploration budget will continue to be based on the Company’s fiscal year end (April 30th). The Company will present its exploration plans and budget shortly after completion of the current fiscal year. There are currently 14 rigs on the property including 13 underground at the Macassa mine and 1 on surface at the east end of the camp testing various targets. It is planned in FY 2012 to add two additional surface rigs. 7 of the current rigs are managed by the exploration department, the remaining 7 are managed by the underground production department engaged in both definition, pre-production and some exploration drilling.

Recent Developments - Exploration

On May 4, 2011, Kirkland Lake Gold announced a record drill hole intersection of 8.16 Ounces of Gold Per Ton Over 46.7 Feet True Width in Drill Hole 53-1685. The combination of grade and width would make this intersection the richest in the 100 year history of the Kirkland Lake Camp,” according to Stewart Carmichael, Chief Exploration Geologist. This drill result likely represents a localized blow out of the New South Zone. Drills holes located 50 to 100 feet away from 53-1685 have intersected both the New South Zone as well as a distinct and separate footwall zone. In the case of hole 53-1685, the mineralization is continuous between the New South Zone and the footwall zone, resulting in the extraordinary width of the intersection. The vertical mining height, which is used for resource calculations and modeling is estimated at 52.8 feet. The combination of grade and vertical mining height is also a record for the South Mine Complex. The New South Zone at this pierce point dips at 28 degrees to the southeast. One of the exploration programs in progress is designed to extend the New South Zone in this direction beyond the currently defined resource area.

On February 15, 2011 Kirkland Lake Gold announced drill results from two new underground exploration programs on the Company’s wholly owned Macassa Mine property. Both programs were carried out from the 5300 foot level and have produced encouraging initial results. The first program, designed to test a previously unexplored area south of the historic mine workings, was drilled from the 5300 level near the No. 3 Shaft and has yielded high-grade intersections. The first exploration hole of this program, drill hole 53-1640, returned a number of intersections including 12.34 ounces of gold per ton (opt) over a core length of 1.5 feet. This intersection is located 1,000 feet south of the historically mined `04 Break at the -5410 foot elevation and 2,000 feet west of the current extent of the SMC. One of the follow-up drill holes, 53-1725, similarly intersected a number of mineralized zones including 6.05 opt over a core length of 8.4 feet. Further drilling is in progress to define the geometry and continuity of these zones. Mineralization is characterised by quartz veining with visible gold and tellurides and may be structurally related to the #6 Break. The #6 Break is interpreted as being a splay structure from the `04 Break and has been traced laterally across the Macassa, Kirkland Minerals and Teck-Hughes properties a distance of 10,000 feet.

The second new exploration program was designed to test for SMC-related footwall mineralization as well as the potential up-dip extension of the SMC. This program was drilled from the 5300 level in the central part of the Macassa Mine approximately 2,800 feet east of the above described program. Drill hole 53-1621 returned an assay of 2.94 opt over a core length of 1.0 feet and drill hole 53-1622 assayed 1.34 opt over a core length of 3.1 feet. Drilling has further defined a mineralized zone footwall to the current Lower D North resource. This drill program, confined thus far to a relatively small area, has also produced a number of intersections that will require follow-up drilling as well as future testing of unexplored areas. These two new drill programs are part of a much larger ongoing exploration initiative. The Company is currently operating seven exploration drills, six of which are located underground at the Macassa Mine and one located on surface.

Five of the underground exploration drills are operating on the 5,300 foot level. One of which is testing the south and western part of the Macassa Mine near the #3 Shaft. Four of the drills are located on the 5305 drift located 2,000 feet south of the old workings. Targets for these drills include testing the ’04 Break down to a depth of 8,000 feet, testing the down-dip extension of the SMC, testing the `08 Break and fulfilling joint venture requirements with Queenston Mining. The remaining underground drill will continue to test both ’04 and SMC related mineralization from various levels of the mine. The surface drill rig is located on the Company’s properties east of the Macassa, engaged in deep exploration up to 3,000 feet south of the main historic ore horizon in previously unexplored areas of the property.

Mine Expansion

In January 2009, Kirkland Lake Gold commenced a 2-Phase, 36-month development and mine refurbishment program to increase production in two eighteen month phases:

Phase I, completed in July 2010, and will double production to 600 - 700 tons of ore per day, containing roughly 90,000 - 100,000 ounces this fiscal year 2011.

• Initiate mechanized cut and fill mining in the SMC
• Increase and improve underground ventilation
• Upgrades and extensions to the underground fill system
• Initiate ramp development
• Continue aggressive exploration and ore body definition
• Infrastructure upgrades and mine expansion including an expansion to the core shack and the construction of a 300-person new dry facility and a new hoist building for the new hoist

Phase II, is expected to complete in April 2012 and will more than double production to 1,200 - 1,400 tons of ore per day, containing roughly 180,000 to 200,000 ounces of gold per year in fiscal 2013, then to ultimately 1,600 tons of ore per day, containing 210,000 - 250,000 ounces in fiscal 2014.

• Complete ramp access to the lower SMC and initiate mining below the-5,300 level in the SMC
• Complete the upgrade of Phase 2 ventilation
• Upgrade shaft hoisting in the #3 shaft – increase capacity from 1,000 tons per day to 2,300 tons per day
• Upgrade surface paste back-fill system
• Upgrade surface infrastructure including cold storage, new compressor house and construction of another 300-person dry facility
• Continue aggressive exploration and ore body definition