Click to edit Master title style TSX:KGI • Click to edit Master • Click to edit Master text styles text styles – Second level – Second level GROWTH & VALUE • Third level • Third level – Fourth level – Fourth level » Fifth level » Fifth level Creating an Ontario Focused Intermediate Gold Producer TD Securities Mining Conference | January 27, 2016 Presenter: Perry Ing, Chief Financial Officer 1 klgold.com TSX:KGI
Forward Looking Statements Click to edit Master title style Cautionary Note Regarding Forward Looking Statements. This presentation 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. Forward-looking statements used in this Presentation include, but may not be limited to; statements regarding the Company’s combined production guidance for 2016, and guidance from the Macassa Mine • Click to edit Master • Click to edit Master Complex for the financial years ended 2017 and 2018; the ability to bring more higher grade stopes online from the 5400 level and access to the 5600 level and below, and the timing thereof; the exploration programs and the results and timing thereof, the integration of the East Timmins Operations resulting from the SAS acquisition, and the timing thereof. text styles text styles In respect of the forward-looking information concerning the anticipated completion of the proposed Transaction and the anticipated timing thereof, Kirkland Lake has provided them in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the time – Second level – Second level required to prepare and mail shareholder meeting materials, including the required information circular; the ability of the parties to receive, in a timely manner, the necessary regulatory, court, shareholder and other third party approvals; and the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Transaction. These dates may change for a number of reasons, including unforeseen delays in • Third level • Third level preparing meeting materials, inability to secure necessary shareholder, regulatory, court or other third party approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Transaction. Accordingly, readers should not place undue reliance on – Fourth level – Fourth level the forward-looking information contained in this news release concerning these times. With respect to the forward looking information of Kirkland Lake and/or St Andrew, concerning the future gold production of Kirkland Lake and St » Fifth level » Fifth level Andrew, future cash costs of production, the gold resources and reserves of Kirkland Lake and St Andrew, and the development of the Kirkland Lake and St Andrew properties are subject to various key assumptions described in each party’s respective Annual Information Forms and Technical Reports referred to herein and as filed on the SEDAR profiles of both companies at www.sedar.com. 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, its ability to increase its production capacity and decrease its production cost. 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 are discussed in length in the Company's annual Management's Discussion and Analysis and Annual Information Form for the year ended April 30, 2015. and the Company’s Management's Discussion and Analysis for the interim period ended October 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. 2 2 klgold.com TSX:KGI TSX:KGI klgold.com
Creating A New Mid-Tier Gold Producer Click to edit Master title style KGI and SAS Pro-Forma Highlights Include: Ontario Focused Intermediate Gold Producer Ontario-focused intermediate producer expected to produce between 260 – 310 koz of gold in • Click to edit Master • Click to edit Master 2016 Improved diversification with production from four mines and two centrally located mills in Ontario’s southern Abitibi greenstone belt text styles text styles Improved Financial Flexibility – Second level – Second level Solid balance sheet with over C$100 million in cash • Third level • Third level Combination of strong future cash flows Ability to benefit from future operational and corporate synergies – Fourth level – Fourth level Enhanced Market Profile » Fifth level » Fifth level Two companies are covered by 15 research analysts collectively Enhanced trading liquidity and appeal to a larger shareholder base Exploration Upside Consolidation of large land holdings in the heart of two Ontario gold camps Proximity to existing mine infrastructure Further Opportunities Combined entity has a stronger market positioning and warrants a re-rating Leveraged to the Canadian dollar gold price 3 klgold.com TSX:KGI
Experienced Team Click to edit Master title style Board of Directors Eric Sprott 2 Non-executive Chairman Barry Cooper, B.Sc., MBA 1 Non-executive Director Michael Churchill, MBA 4 Pamela Klessig, P.Geo Non-executive Director Non-executive Director • Click to edit Master • Click to edit Master Barry Olson, M.Sc. 1 Jeffrey Parr, CPA-CA, BA, MBA 1 Non-executive Director Non-executive Director text styles text styles Dawn Whittaker, LLB George Ogilvie, P.Eng Non-executive Director – Second level – Second level Senior Management • Third level • Third level George Ogilvie, P.Eng. President & Chief Executive Officer – Fourth level – Fourth level Perry Ing, CPA-CA, CPA (Ill), CFA 3 Chief Financial Officer » Fifth level » Fifth level Chris Stewart, P.Eng VP Operations Jennifer Wagner, LL.B. Corporate Legal Counsel Suzette N Ramcharan, CPIR Director, Investor Relations Kevin Fearn, BA, CHRP, CHRL Director, Human Resources 1 Appointed October 2014; 2 Appointed February 2015; 3 Appointed November 2015, 4 Appointed January 25, 2016 4 klgold.com TSX:KGI
Diversified Assets In A Prolific, Mining Friendly Region Click to edit Master title style East Timmins Properties 2015E Production 107 koz Au Q3 2015 AISC US$934/oz Au Holt Mill 3,000 tpd (75% utilized) • Click to edit Master • Click to edit Master Resources & Reserves* Holt Mine 591 kozs text styles text styles Holloway Mine 40 kozs Taylor Mine 156 kozs – Second level – Second level Total P&P 0.8 Mozs (including Hislop Mine) Measured & Indicated • Third level • Third level 2.7 Mozs (Property Wide) Inferred – Fourth level 2.2 Mozs – Fourth level (Property Wide) » Fifth level » Fifth level QUÉBEC Macassa Mine Complex SY 2015E Production 103 koz Au Q2 SY2015 AISC US$989/oz Au Assets in close proximity Macassa Mill 2,000 tpd (50% utilized) within an 80km radius, Reserves & Resources* accessed by provincial Total P&P Reserves highways. 1.5 Mozs (Macassa Mine Complex) Measured & Indicated 2.0 Mozs (Property Wide) Inferred (Property Wide) 1.7 Mozs *Resources are exclusive of Reserves. See Company websites for NI 43-101 disclosure (www.kllgold.com; www.sasgoldmines.com) 5 klgold.com TSX:KGI
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