Kirkland Lake Gold Kirkland Lake Gold Announces Record Production of 16,485 Ounces of Gold in February
March 18 2015 - 2:00AM
UK Regulatory
TIDMKGI
Kirkland Lake Gold Announces Record Production of 16,485 Ounces of Gold in February
FOR: KIRKLAND LAKE GOLD INC.
TSX, AIM SYMBOL: KGI
March 18, 2015
Kirkland Lake Gold Announces Record Production of 16,485 Ounces of Gold in February
TORONTO, ONTARIO--(Marketwired - March 18, 2015) - Kirkland Lake Gold Inc. (TSX:KGI)(AIM:KGI) ("Kirkland Lake
Gold" or the "Company"), an operating and exploration gold mining company, announces record monthly production
of 16,485 ounces of gold (recovered) for the month of February, kicking off its fourth quarter for fiscal 2015.
Highlights:
=- 32,862 tons milled at a head grade of 0.52 ounces per ton ("opt") or 17.8 grams per tonne ("g/t") and a
recovery rate of 96.8%.
=- Recovered 16,485 ounces of gold.
Mr. George Ogilvie, President & Chief Executive Officer commented, "We are happy to see the positive momentum
continuing, particularly considering February was only a 28 day month. While this is an exceptional month and
one we cannot consistently replicate just yet, it does show the potential of the property in future years. As
more stopes come online in the South Mine Complex on both the 5400 level (where we are currently mining and
where reserves grades are 0.57 opt or 19.5 g/t), and the 5600 level (which we plan to gain access to in fiscal
2016, where reserves grades are 0.70 opt or 24.0 g/t), we should begin to see more consistent performance and
above our last 12 month performance. Our recently revised forecast upward to 153,000 to 157,000 ounces of
annual production remains intact."
"We have made a lot of changes over the past 14 months, and our team has met the challenges posed to them head
on. It has been a great team effort, and I wish to thank all of our employees for their commitment and hard
work. The operations team and all the employees of the Company need to be commended for a job well done in
turning around the Company's fortunes in a relatively short period of time."
"It's my belief and that of the board of directors, that the Kirkland Lake camp can be used as a core asset to
build the next great Canadian gold mining company."
Operational Achievements and Team Effort
February's production was achieved through a number of factors including a higher head grade of 0.52 opt (17.8
g/t) resulting from access to more high-grade stopes within the South Mine Complex. The operations saw a more
efficient transition between mining cycles from ore production to paste fill. Changes in the tire supplier
increased the availability of the mobile fleet which saw less downtime and resulted in more ore break. The new
jumbo's gained access to some ore headings and while they are not yet operating at full capacity, they are
contributing to the overall ore tons broken (which averaged 1,205 tons per day in February). Improvements with
the maintenance of the battery operated equipment also saw positive impacts. With a dedicated battery team,
responsible for troubleshooting and maintenance, the availability of these units has greatly improved.
Better communication resulted in increased worker productivity and ultimately better teamwork. The operations
team have been steadily meeting the challenges posed to them and have come together to achieve success. A
number of initiatives were undertaken including management training which saw better dialogue among team
members. The Company continues to instill an "It's My Business" and "Act Like An Owner" culture within the
operation, which is having a direct impact on improving efficiency and productivity.
Outlook
While the grade and production rate will remain variable in the short term, there are a few key steps that the
Company is striving towards to ensure February's achievements are repeatable in the future. We expect to see
some improvements in the near-term which will result from; the ability to increase the number of working faces,
and as the second jumbo gains access to more ore faces; further improvement in the paste fill process that will
come with some automation initiatives; and continued positivity in employee morale within the business.
Qualified Person
Production at the Macassa Mine and processing at KL Gold's milling facility are under the supervision of Mr.
Chris Stewart, P.Eng., the Company's Vice President of Operations. Mr. Stewart, the 'qualified person' (for the
purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities
Administrators), has reviewed and approved this news release.
About the Company
Kirkland Lake Gold Inc.'s corporate goal is to create a self-sustaining and long-lived intermediate gold mining
company based in the historic Kirkland Lake gold camp, as well as to explore opportunities for growth in other
safe mining jurisdictions. The Company plans to do this by mining to the reserve grade, generating profits and
free cash flow with a view to maximising value for the shareholders. The Company will also look to take
advantage of its increased infrastructure capacity in the appropriate gold price environment. At the same time,
the Company is committed to maintaining a significant exploration program aimed at developing and maintaining a
property wide reserve and resource base sufficient to sustain a mine life of more than ten years.
Over the last several years the Company has invested significant capital to improve the infrastructure of the
business including upgrading the production hoist, skips, mill, underground mobile equipment and capital
development. From initial discovery to present day there have been over 24 million ounces of gold mined from
the Kirkland Lake gold camp while the current reserve and resource provides for potentially 14 years of mining
with significant exploration upside.
Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed or accepts
responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward Looking Statements
This Press Release 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. 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, including but not limited to; the ability to meet its revised production
guidance, the ability to bring two additional stopes into production on the 5400 level and access to the 5600
level and the timing thereof, as well as other productivity improvements which the Company expects will have
further positive impacts on its production levels. 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
include the Company's expectations in connection with the projects and exploration programs being met, the
impact of general business and economic conditions, global liquidity and credit availability on the timing of
cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold
prices, currency exchange rates (such as the Canadian
dollar versus the United States Dollar), possible variations in ore grade or recovery rates, changes in
accounting policies, changes in the Company's corporate mineral reserves and resources, changes in project
parameters as plans continue to be refined, changes in project development, construction, production and
commissioning time frames, risks related to joint venture operations, the possibility of project cost overruns
or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing
to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate
as anticipated, unexpected changes in mine life, seasonality and unanticipated weather changes, costs and
timing of the development of new deposits, success of exploration activities, permitting time lines, government
regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or
claims, and limitations on insurance, as well as those risk factors discussed or referred to 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kirkland Lake Gold Inc.
George Ogilvie, P.Eng
Chief Executive Officer
+1 709 532 5716
+1 705 568 6444 (FAX)
gogilvie@klgold.com
OR
Kirkland Lake Gold Inc.
Suzette N. Ramcharan, CPIR
Director of Investor Relations
+1 647-284-5315
+1 705 568 6444 (FAX)
sramcharan@klgold.com
www.klgold.com
OR
NOMAD: Panmure Gordon (UK) Limited
Dominic Morley / Adam James
+44 (0) 20 7886 2500
OR
Blytheweigh
Tim Blythe/Halimah Hussain/Megan Ray
+44 (0) 20 7138 3204
Kirkland Lake Gold Inc.
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