Kirkland Lake Gold Inc.: Fiscal 2013 Fourth Quarter and Full Year Production Results

KIRKLAND LAKE, ONTARIO--(Marketwired - May 14, 2013) - Kirkland Lake Gold Inc. (the "Company") (TSX:KGI)(AIM:KGI), an operating and exploration gold mining company, announces operational results for the fourth quarter (February, March, April 2013) and fiscal year 2013.

During the fourth quarter, 89,384 tons were produced at a head grade of 0.3673 ounces per ton ("opt") and a recovery rate of 95.94% to produce 31,503 ounces of gold. Produced ounces for the month of April were 15,464 ounces. Following the completion of the hoisting capacity increase, April saw Macassa mine record daily ore tonnage of 1,192 tons and head grades of 0.4501 opt. Average daily ore tonnage rates for the quarter were 1,004 tons per day, slightly surpassing the upper end of the Company's 900 - 1,000 tons per day target for the quarter.

For fiscal year 2013 (ended April 30, 2013) 91,756 ounces were sold, meeting revised production guidance. Ounces produced were 91,518 from 304,062 tons of ore at a head grade of 0.3145 opt and a recovery rate of 95.72%.

Mr. Harry Dobson, Chairman commented, "With the increased hoisting capacity available this quarter, the Company is now starting to realise the benefits of its production expansion plans and develop higher grade stopes on the lower levels of the South Mine Complex. Daily ore tonnage rates at 1,004 tons in Q4 somewhat exceeded plan and will progressively ramp up to achieve 1,400 - 1,600 tons of ore per day in our second fiscal quarter."

The Company's fiscal year 2014 guidance (May 1^st, 2013 - April 30^th, 2014) is to sell 150,000 - 180,000 ounces of gold.

About the Company

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 increasing production capacity to 2,200 tons of ore per day in several stages, and by decreasing production costs by realizing the economies of scale associated with that higher production capacity. 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 for as long as practicable.

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", "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, and 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 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, 2012 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 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.