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Company Information for Kirkland Lake Gold Inc

www.klgold.com

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Company Statement

Kirkland Lake Gold Inc. is an operating and exploration gold mining company located in Ontario, Canada. Kirkland Lake Gold Inc. purchased the Macassa Mine and the 1,500 ton per day mill along with four former producing gold properties – Kirkland Lake, Teck-Hughes, Lake Shore and Wright Hargreaves – in December 2001. These properties, which have historically produced some 22 million ounces of gold, extend over seven kilometres between the Macassa Mine on the west and Wright Hargreaves on the east and, for the first time, are being developed and explored under one owner. This camp is located in the Southern Abitibi Greenstone Belt of Kirkland Lake, Ontario, Canada. The Company’s corporate goal is to expand its gold reserves and reduce its operating costs to become a profitable gold producer.

Current Operations

FOURTH QUARTER NET INCOME OF $2.3 MILLION and YEAR END RESULTS, FISCAL 2009

Operational highlights

A strong fourth quarter saw gold production increase 102% to 20,411 ounces compared to the previous quarter (Q3/09: 10,081) and a 45% increase compared to Q4/08 (14,089 ounces), due to increased production from the South Mine Complex (SMC).
As a consequence of the decision to fast track the SMC into production, capital development increased by 93% to 5,960 feet (2008: 3,083 feet). This trend will continue in fiscal 2010 with a further 10,000 feet of development planned for the SMC.
During fiscal 2009 and in advance of the anticipated increase in development and mining activity in the SMC, the Company invested $5.3 million in plant and machinery.
The exploration programme completed 139,000 feet of exploration drilling during the year on the SMC. Proven and probable reserves and measured and indicated resources in the SMC both increased by 28% and now stand at 1.41 million tons at a grade of 0.71 ounces of gold per ton (opt) for a total of 998,000. Inferred resources increased 6% to 704,000 tons at a grade of 0.84 opt or 590,000 ounces. The number of feet drilled was 16% lower than budgeted in order to expedite capital development required to increase ventilation.

Harry Dobson, Kirkland Lake’s Chairman, commented;
"Fiscal 2009’s pivotal highlight was the hiring of new production leadership. Over 150 miners and underground workers were hired and put to work in the last two months of fiscal 2009 achieving successive monthly gold production records of 7377 ounces in March and 8916 ounces in April as mining commenced on the South Mine Complex. Expansion of the underground work force will continue over the next fiscal year and will ensure the Company is well Positioned for a successful 2010 fiscal year in terms of target production of 90,000 to 100,000 ounces of gold, increased exploration and resulting stronger financial performance.”
Financial highlights

Ounces sold in the fourth quarter increased 80% to 16,045 generating $18.2 million in revenues, $2.3 million of net income and $2.2 million in operating cash flow. The ounces produced in the fourth quarter and not sold will be sold in the first quarter of Fiscal 2010.
Gold revenues achieved during the fiscal year were $43.5 million, 5% higher than previous year (2008: $41.4 million)
Operating expenses increased to $47.5 million (2008: $39.6 million), an increase of 18%, primarily due to increases in mining costs, due to doubling of company mining personnel ($5.0 million), and materials ($2.4 million) required for the expanded mining plan in the main break and SMC. At the same time, contractor personnel utilized in mining were reduced from 50 to none.
The number of employees rose 83% to 400 compared to fiscal 2008. This was due to a larger work force needed in order to expedite development and production from the SMC and to the replacement of contractors. The Company received the Angus Campbell Award for Safety for the second consecutive year, and also received the MASHA Award of Excellence for Safety in 2008.
For the fiscal year the Company incurred a net loss for the year of $10,483,055 or $0.19 per share, which compares to a net loss of $3,345,980 or $0.06 per share in fiscal 2008
Cash resources (including short term investments) as at April 30, 2009 were $25.4 million and are expected to be sufficient to fund the Company’s planned exploration and development activities for the next 12 months. As at July 17, 2009, the Company had cash resources of $30.4 million.

Geographical Spread

Southern Abitibi Greenstone belt , Ontario Canada

Board of Directors and Key Management

Harry Dobson	(Chairman)
Brian Hinchcliffe	(President and Director)
Mark Stephen Tessier	(Chief Operating Officer)
John Sidney Thomson	(Chief Financial Officer)
George Milton
Paul Kostiuk
Brian Bayley
Trevor Gabriel

Company Address

P.O. Box 370
1360 Government Road West
Kirkland Lake
Ontario, P2N 3J1


Telephone:	+1 705 567 5208
Facsimile:	+1 705 568 6444
Email:	info[at]klgold.com
Website:	http://www.klgold.com

Capital

Shares issued and outstanding: 58,548,898
Fully Diluted: 60,946,898

Year End

April 30th

Nominated Brokers

Ocean Equities Ltd

Nominated Advisors

Panmure Gordon (UK) Ltd

Most Recent Statement

11/02/10 - Kirkland Lake Gold Inc. Appoints COO and CFO
05/02/10 - Kirkland Lake Gold Inc. Closes C$32.0 Million Bought Deal Private Placement Financing
14/01/10 - BOUGHT DEAL PRIVATE PLACEMENT
12/01/10 - Kirkland Lake Gold Inc.: Two New Discoveries Open Potential of the SMC to the East; Drill Hole 53-1520 Returns 6.14 Ounces Per Ton Over 13.7 Feet
14/12/09 - OPERATIONS UPDATE & FINANCIAL RESULTS Q2 FISCAL 2010
29/09/09 - Additional High-Grade Gold Intersections on New Deep Discovery

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