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Kirkland Lake Gold Renews Normal Course Issuer Bid

Jun 7, 2021

Kirkland Lake Gold Ltd. has received acceptance from the Toronto Stock Exchange to renew its normal course issuer bid. The NCIB allows Kirkland Lake Gold to purchase up to 26,694,051 common shares of the Company (the “Shares”), representing 10% of the public float as of June 4, 2021. As at June 4, 2021, the Company had 267,082,874 Shares issued and outstanding.

Purchases of the Common Shares pursuant to the NCIB may be made through the facilities of the TSX and/or alternative Canadian trading systems, commencing on June 9, 2021 and ending on June 8, 2022, or such earlier time as the NCIB is completed or terminated by the Company. Any purchases made pursuant to the NCIB will be made in accordance with the rules of the TSX and will be made at market price at the time of purchase.

The average daily trading volume for the six months’ period ended May 31, 2020, less prior NCIB purchases made on the TSX, was 1,050,567. Under the renewed NCIB, the maximum number of securities that the Company may purchase on a daily basis, other than block purchase exemptions, are 262,641 Shares. The actual number of Shares purchased for cancellation and the timing of such purchase will be determined by the Company. There cannot be any assurance as to how many Common Shares will ultimately be purchased for cancellation under the NCIB.

The Board of Directors of Kirkland Lake Gold has determined that the repurchase of Common Shares pursuant to the proposed NCIB presently constitutes an appropriate use of financial resources and would be in the best interest of Kirkland Lake Gold shareholders.

Under the previous NCIB, the Company sought and received approval from the TSX to purchase up to 27,711,401 Shares for the period of June 8, 2020 to June 7, 2021. The Company purchased 10,286,500 Shares pursuant to the previous NCIB in the last twelve months at an average price of C$57.39 per Share on the TSX and alternates.

About Kirkland Lake Gold Ltd.

Kirkland Lake Gold Ltd. is a senior gold producer operating in Canada and Australia that is targeting 1,300,000 – 1,400,000 ounces of production in 2021. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold’s solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.

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