Kirkland Lake Gold Amends Normal Course Issuer Bid and Implements Automatic Share Purchase Plan

TORONTO, Feb. 20, 2020 (GLOBE NEWSWIRE) -- Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL) (NYSE:KL) (ASX:KLA) today announced that in connection with the Company’s previously announced normal course issuer bid (“NCIB”) to purchase up to 20,898,692 of its common shares (the “Shares”), it has entered into an automatic share purchase plan (“ASPP”) with its designated broker. The ASPP is intended to allow for the purchase of Shares under the NCIB at times when the Company may not ordinarily be permitted to purchase Shares due to regulatory restrictions and customary self-imposed blackout periods.

Pursuant to the ASPP, the designated broker may purchase up to 7,000,000 Shares until the expiry of the NCIB on May 28, 2020. Such purchases will be determined by the broker at its sole discretion based on the purchasing parameters set out by the Company in accordance with the rules of the Toronto Stock Exchange (the “TSX”), applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and will be effective as of February 21, 2020. The ASPP will terminate on the earlier of the date on which: (i) the NCIB expires; (ii) the maximum number of Shares have been purchased under the ASPP; and (iii) the Company terminates the ASPP in accordance with its terms.

Outside of the ASPP, Shares may continue to be purchased under the NCIB based on management’s discretion, in compliance with the rules of the TSX and applicable securities laws. The NCIB commenced on May 29, 2019 and expires on May 28, 2020. The Company expects to renew the NCIB upon expiry. All purchases made under the ASPP will be included in the number of Shares available for purchase under the NCIB.

About Kirkland Lake Gold Ltd.

Kirkland Lake Gold Ltd. is a growing gold producer operating in Canada and Australia that produced 974,615 ounces in 2019, with target production for 2020 of 1,470,000 – 1,540,000 ounces. 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.