KIRKLAND LAKE, ONTARIO--(Marketwire - Sept. 5, 2012) - Kirkland Lake Gold Inc. (the Company) (News - Market indicators)(AIM:KGI), an operating and exploration gold company, is pleased to announce drilling results from recently completed surface and underground Diamond drilling exploration programs. These programs include further drilling on the South Claims property (formerly held under a joint venture with Queenston Mining Inc. but which was acquired, along with the HM, North Amalgamated and other joint venture properties, from Queenston on August 30, 2012) and a grassroots deep drilling program south of the Macassa Mine property.

The South Claims surface exploration program was designed to follow up on the high grade intercept in drill hole SC-11-02 which assayed 1.74 ounces of gold per ton (opt) over a true width of approximately 4.6 feet 400 feet below surface (see the Company's news release dated February 28, 2012) and to test additional targets associated with the Amalgamated Break. The Company is currently utilizing two surface rigs to test mineralization on the South Claims.

One of the six underground exploration drills is operating on the east part of 5,300 foot level testing the extension of the South Mine Complex (SMC) area on the HM and North Amalgamated properties. A second drill is located on the 5300 level in a recently excavated drill bay located along the west boundary between the South Claims and the Macassa property. This drill is testing the down-dip and strike extension of the SMC on the South Claims where the existing indicated and inferred resource grade is in excess of 1 ounce per ton.

"Results are in line with our expectations, discovering new high grade gold ounces on the acquired JV claims," said Stewart Carmichael, Exploration Manager. "With the exploration drifts on the 5300 level already developed, access to both underground and surface drilling on the South Claims was immediate and will be ongoing throughout the year," added Mr. Carmichael.

The following are some of the highlights of the new exploration programs:

• Drill hole AB-12-01 intersected a mineralized zone that returned 1.12 opt uncut over 6.5 feet of core length (true width unknown). The mineralization is associated with a strong deformation zone with silicified greywacke mineralized with 8-10% semi-massive pyrite. This intersection is located 740 feet west of the South Claims at a vertical depth of 2,456 feet. All other surface intersections described in this release are within 600 feet of surface.
  
  
• Drill hole AB-12-06 intersected a mineralized zone that returned 8.52 opt uncut over 3.0 feet of core length (2.9 feet true width). This intersection is approximately 300 feet below surface and contained significant visible gold and appears to be associated with the high grade intercept in drill hole SC-11-02 approximately 140 feet to the east.
  
  
• Drill hole 53-2147 intersected the New South Zone 125 feet down dip and 122 feet west from previous drilling and assayed 11.00 opt uncut (3.57 opt cut) over a true width of 4.5 feet. This drill hole also included a new hangingwall vein which assayed 1.33 opt over a true width of 2.7 feet.
  
  
• At least one, and possibly two, new hangingwall veins have also been intersected. Drill hole 53-2150 assayed 0.64 opt over a core length of 13.1 feet and 53-2151 assayed 0.59 opt uncut, (0.54 opt cut) over a core length of 20.6 feet. Further infill drilling will be required to determine continuity between these two holes.
  
  

These drill programs are part of a much larger ongoing exploration initiative. The Company is currently operating nine exploration drills, six of which are located underground at the Macassa Mine and three located on surface.

The following figures, referred to elsewhere in this release, may be viewed at the Company's website at www.klgold.com.

• Figure 1 - plan view showing current surface drill programs on the South Claims.
• Figure 2 - plan view showing the latest drilling results from the underground drill program on the South Claims.

The following tables summarize the latest drilling results in imperial values:

The following tables summarize the latest drilling results in metric values:

Historical Exploration

The earliest recorded exploration on the South Claims included a shaft sunk to 400 feet in the 1920s. A limited amount of drifting was completed on the 100 and 150 foot levels. "Promising" assays were reported for 85 feet in the shaft, though there is no record of actual assays. (Ontario Department of Mines Report, Vol. VII, Part V, 1948, pg. 35)

In 1939, Amalgamated Kirkland Gold Mines completed four shallow Diamond drill holes on the east portion of the South claims and nine shallow drill holes on the northwest portion of the Amalgamated property. On the Amalgamated property, two of the drill holes intersected mineralization including 0.33 opt over 12.0 feet core length and 0.42 opt over 0.9 feet core length. On the South Claims, one of the drill holes reported an assay of 0.21 opt over a core length of 15.7 feet. All of the above intersections are within 100 feet of surface.

There was no other exploration work on the South Claims until 2007 when the Company and Queenston Mining completed a surface geophysical program including total field magnetic and induced polarization (I.P.). Numerous I.P. anomalies where located coincident with historical mineralized trends. 

In 1984, Eden Rock Minerals completed two Diamond drill holes on the north portion of the Amalgamated Kirkland property as a follow-up to the 1939 Amalgamated Kirkland drilling. Intersections from this program included 0.44 opt over 1.4 feet core length and 0.13 opt over a core length of 0.7 feet.

In 1911, gold was discovered on the Hunton claim located 5,500 feet to the east of the Amalgamated Kirkland property. A shaft was sunk to a depth of 500 feet on the Hunton property in the mid to late 1920s with an internal winze sunk from the 375 foot level to the 675 foot level. Mineralization, including visible gold and "extremely rich showings of gold with pyrite" are reported in the shaft area. (Ontario Department of Mines Report, Vol. VII, Part V, 1948, pg. 35)

The South Claims, North Amalgamated and Hunton claim were recently acquired from Queenston Mining. (see the Company's news release dated August 30, 2012)

The Company currently has a near surface resource located on the 100% owned Macassa property close to the west boundary of the South Claims property (see Figure 1). The resource is comprised of two separate mineralized zones and is footwall to, and associated with, the Amalgamated Break and within 300 feet of surface. The two zones contain a combined 16,000 tons indicated resource grading 0.33 opt and a combined 16,000 tons inferred resource grading 0.31 opt. The intercepts described in the recent surface drilling program seem to be related to this resource, however, further drilling is required to confirm this relationship. To date, this drill program has tested approximately 600 feet of strike length along the Amalgamated Break within the South Claims. These resources form part of the total estimated Macassa resources detailed in the Company's press release dated May 30, 2012.

About the Company

Kirkland Lake Gold Inc. is an operating and exploration gold company located in Kirkland Lake, ON in the Southern Abitibi gold belt. Its 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 to 250,000 - 300,000 ounces per year in several stages, and by decreasing production costs by realizing the economies of scale associated with that higher production rate.

The results of the Company's underground Diamond drilling program have been reviewed, verified (including sampling, analytical and test data) and compiled by the Company's geological staff (which includes a 'qualified person', Stewart Carmichael P.Geo., the Company's Chief Exploration Geologist, for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators). Mr. Carmichael also supervised the preparation of the information that forms the basis of the technical disclosure in this release.

The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. The drill core is sawn in half with one half of the core samples shipped to Swastika Laboratories in Swastika, Ontario, or to AGAT Labs in Mississauga, Ontario. The other half of the core is retained for future assay verification. Other QA/QC includes the insertion of blanks, and the regular re-assaying of pulps and rejects at alternate certified labs. Gold analysis is conducted by fire assay using atomic absorption or gravimetric finish. The laboratory re-assays at least 10% of all samples and additional checks may be run on anomalous values.

The Company's Macassa Mine Property is the subject of a reserve report prepared by Glenn R. Clark, P.Eng. entitled Review of Resources and Reserves of Macassa Mine, Kirkland Lake, Ontario at January 1, 2012 dated May 29, 2012, which has been filed on SEDAR (www.sedar.com) under the Company's filings.

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.

Glossary of Terms

National Instrument 43-101 Definitions of Resources and Reserves

The Reserve and Resource estimation classifications as prescribed in National Instrument 43-101 are given here for clarity.

Mineral Resource

Mineral Resources are sub-divided into 3 categories depending on the geological confidence. The highest level with the most confidence is the 'Measured' category. The next level of confidence is the 'Indicated' category and the lowest level, or the resource with the least confidence, is the 'Inferred' category.

Measured Mineral Resource

A 'Measured Mineral Resource' is that part of a Mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity.

Inferred Mineral Resource

An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling, gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

Indicated Mineral Resource

An 'Indicated Mineral Resource' is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics, can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.

Mineral Reserve

Mineral Reserves are sub-divided into 2 categories. The highest level of Reserves or the level with the most confidence is the 'Proven' category and the lower level of confidence of the Reserves is the 'Probable' category. Reserves are distinguished from resources as all of the technical and economic parameters have been applied and the estimated grade and tonnage of the resources should closely approximate the actual results of mining. The guidelines state "Minerals Reserves are inclusive of the diluting material that will be mined in conjunction with the Mineral Reserve and delivered to the treatment plant or equivalent facility." The guidelines also state that, "The term 'Mineral Reserve' need not necessarily signify that extraction facilities are in place or operative or that all government approvals have been received. It does signify that there are reasonable expectations of such approvals."

Probable Mineral Reserve

A 'Probable Mineral Reserve' is the economically mineable part of an Indicated and in some circumstances a Measured Mineral Resource demonstrated by a least a Preliminary Feasibility Study. This study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified.

Proven Mineral Reserve

A 'Proven Mineral Reserve' is the economically mineable part of a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction is justified.

Additional Terms

Mineralization

The concentration of metals and their chemical compounds within a body of rock.

Drill Bay

An underground excavation which houses a Diamond drill while it is in operation.

Dip

The angle at which a bed, stratum, or vein is inclined from the horizontal, measured perpendicular to the strike and in the vertical plane.

Strike

The direction, or bearing, from true north of a vein or rock formation measured on a horizontal surface.

Drift

A horizontal underground opening that follows along the length of a vein or rock formation as opposed to a crosscut which crosses the rock formation.

Deformation

A general term for the process of folding, faulting, shearing, compression, or extension of the rocks as a result of various Earth forces.

Silicified

The introduction of, or replacement by, silica, generally resulting in the formation of fine-grained quartz, chalcedony, or opal, which may fill pores and replace existing minerals.

Greywacke

A variety of sandstone generally characterized by its hardness, dark color, and poorly sorted angular grains of quartz, feldspar, and small rock fragments or lithic fragments set in a compact, clay-fine matrix.

Massive

Solid (without fractures) wide (thick) rock unit.

Hangingwall

The wall or rock on the upper side of a vein or ore deposit.

Footwall

The wall or rock on the underside side of a vein or ore deposit.

Total Field Magnetic

The measurement of the entire magnetic field.

Induced Polarization

The production of a double layer of charge at a mineral interface, or production of changes in double-layer density of charge, brought about by application of an electric or magnetic field (induced electrical or magnetic polarization). Induced electrical polarization is manifested either by a decay of voltage in the Earth following the cessation of an excitation current pulse, or by a frequency dependence of the apparent resistivity of the Earth. Abbrev: IP.

To view the maps associated with this release, please visit the following links:

Figure 1: http://media3.marketwire.com/docs/KGIFig1.pdf

Figure 2: http://media3.marketwire.com/docs/KGIFig2.pdf