News Bureau

September 25, 2020

Kirkland Gold production over 329K Oz in 2Q

Kirkland Lake Gold announced production results for the second quarter (Q2 2020) and first half (YTD 2020) of 2020. Q2 2020 production totaled 329,770 ounces, an increase of 115,177 ounces or 54% from 214,593 ounces for the second quarter of 2019. For YTD 2020, the Company produced 660,634 ounces, 214,162 ounces or 48% higher than the first half of 2019. All dollar amounts are expressed in U.S. dollars, unless otherwise noted.

Q2 2020 consolidated Q2 2020 production of 329,770 ounces, a 54% increase from 214,593 ounces in Q2 2019 and largely unchanged from 330,864 ounces the previous quarter (660,634 ounces in YTD 2020 versus 446,472 ounces in YTD 2019). Gold poured in Q2 2020 totaling 338,573 ounces versus 216,166 ounces in Q2 2019 and 326,933 ounces in Q1 2020 (YTD 2020 gold poured of 665,506 ounces compared to 446,417 ounces for YTD 2019)

Q2 2020 gold sales totaling 341,390 ounces at an average realized price of $1,716 per ounce compared to gold sales of 212,091 ounces ($1,320 per ounce) in Q2 2019 and 344,586 ounces ($1,586 per ounce) the previous quarter (YTD 2020 gold sales of 685,976 ounces ($1,650 per ounce) versus gold sales of 445,020 ounces ($1,313 per ounce) for YTD 2019)

Production from Detour Lake Mine totaling 131,992 ounces despite disruptions caused by COVID-19 (Production from the closing of the Detour Gold Corporation (“Detour Gold”) acquisition on January 31, 2020 to June 30, 2020 totaled 223,547 ounces)

Strong production at Fosterville of 155,106 ounces, a 10% increase from 140,701 ounces in Q2 2019 mainly reflecting higher tonnes processed; Q2 2020 production was similar to production of 159,864 ounces the previous quarter (YTD 2020 production of 314,970 ounces, 17% higher than 269,145 ounces in YTD 2019)

Production at Macassa totaling 41,865 ounces compared to quarterly production of 49,196 ounces in Q2 2019 with the reduction largely related to a lower average grade; Q2 2020 production compared to 50,861 ounces the previous quarter reflecting a greater impact on tonnes processed from COVID-19 protocols as well as a lower average grade (YTD 2020 production of 92,726 ounces compared to YTD 2019 production of 121,972 ounces)

Operations at Holt Complex were placed on temporary suspension effective April 2, 2020 with production for Q2 2020 totaling 807 ounces; Production in Q2 2019 totaled 24,696 ounces, while production in Q1 2020 totaled 28,584 ounces (YTD 2020 production totaled 29,390 ounces versus 55,355 ounces for YTD 2019).

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