Kirkland Lake Gold Concludes Strategic Review Process

Kirkland Lake Gold Inc. has voted to end its strategic review process that began on January 6, 2014 but will continue to explore future options for adding value to the gold mining company.

The company and a Special Committee comprised solely of independent directors conducted a strategic review of the alternatives available to the Company, which included a canvass of prospective acquirers. The process involved careful analysis, consideration and input from independent financial and legal advisors. While the company received several expressions of interest, a transaction did not materialize.

"The management team is committed to continuing the execution of its mine optimization plan to improve margins and return the Company to profitability and free-cash flow, a strategy which has the support of significant shareholders and which we believe will deliver maximum value for the Company” said George Ogilvie, President and Chief Executive Officer of the Company. “The change and transformation process that is currently underway within the business is expected to continue until these objectives are realize” he added. “Although the strategic review process has been formally terminated, the Board will continue to review opportunities to enhance value." Ogilvie explained.

About Kirkland Lake Gold

Kirkland Lake Gold's corporate goal is to create a self-sustaining and long-lived intermediate gold mining company based in the historic Kirkland Lake Gold Camp. The Company plans to do this by mining to the reserve grade, generating profits and free cash flow 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 camp while the current reserve and resource provides for potentially 10 years of mining with significant exploration upside.

For more information please visit - www.klgold.com

Cautionary Note Regarding Forward Looking Statements

This story is based on a news release issued by Kirkland Lake Gold which 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. 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, 2013 and the Company's Management's Discussion and Analysis for the interim period ended October 31, 2013 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

George Ogilvie, P.Eng
Chief Executive Officer
+1 709 532 5716
Fax: +1 705 568 6444
gogilvie@klgold.com

or

Lindsay Dunlop
Director of Investor Relations
+1 416-840-7884
Fax: +1 705 568 6444
ldunlop@klgold.com