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Kirkland Lake Gold Announces Third Quarter Production Results
Published : February 11, 2013
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KIRKLAND LAKE, ONTARIO--(Marketwire - Feb. 11, 2013) - Kirkland Lake Gold Inc. (the "Company") (TSX:KGI)(AIM:KGI), an operating and exploration gold mining company, announces production results for the third quarter of its fiscal year 2013 (November, December, January).

During the quarter, 73,678 tons of ore were produced at a head grade of 0.32 ounces per ton (opt) and a gold recovery rate of 95.66% to produce 22,261 ounces of gold. Ounces sold during the quarter were 17,389. The difference between ounces produced and ounces sold was due to road closures as a result of an ice storm that delayed the last pour of the quarter (4,271 ounces) from being delivered to the gold refinery where it was to be sold until February 1. These additional ounces will remain in inventory in Q3 and will be sold in Q4. For the year to date, 214,678 tons of ore have been produced at a head grade of 0.29 opt and a gold recovery rate of 95.58% to produce 60,015 ounces of gold. Sold ounces year to date are 59,648.

The overall production results are slightly ahead of the plan to meet the Company's guidance of 90,000 - 110,000 sold ounces for fiscal year 2013. The Company plans to increase production in Q4 as a result of the contribution to production of the newly operational service cage, and the beginning of the ramp up of production to the 1,400-1,600 ton per day milestone, targeted for Q2 of fiscal year 2014 (August to October, 2013).

Head grade during the month of January improved considerably to 0.39 opt as a result of the ratio of ore from high grade areas to ore from lower grade areas returning temporarily to a ratio of roughly 1:1. The company is not currently in a position to sustain that ratio, but is working on the development of additional high-grade ore mining areas in order to improve from the roughly 1:3 ratio experienced through most of this fiscal year. The availability of the service cage will greatly aid in those efforts, as most of the waste development rock from this development must be hoisted to surface. The service cage will free up the production hoist to do that waste hoisting.

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.

Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release.

Kirkland Lake Gold Inc.
Brian Hinchcliffe
President
+1 705 567 5208
+1 705 568 6444 (FAX)
bhinchcliffe@klgold.com
or
Kirkland Lake Gold Inc.
Lindsay Carpenter
Director of Investor Relations
+1 416-840-7884
+1 705 568 6444 (FAX)
lcarpenter@klgold.com
www.klgold.com
or
NOMAD: Panmure Gordon (UK) Limited
Katherine Roe
+44 (0) 20 7 8862500
katherine.roe@panmure.com
or
NOMAD: Panmure Gordon (UK) Limited
Callum Stewart
+44 (0) 20 7 8862500
callum.stewart@panmure.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All
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Kirkland Lake Gold Inc.

PRODUCER
CODE : KGI.TO
ISIN : CA49740P1062
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Corporate Presentations of Kirkland Lake Gold Inc.
12/31/2008 New Discoveries in KL Camp; Increase Gold Production, Drive...
In the News and Medias of Kirkland Lake Gold Inc.
7/8/2010Posts Q4 loss; sees strong FY11
7/21/2009South Mine gives Kirkland Lake gold output a boost
8/18/2006Follow up N° 3
1/31/2006Initiating coverage
Annual reports of Kirkland Lake Gold Inc.
Notice of Shareholder Meeting (AIM Rule 26) and 2013 Annual ...
Notice of Shareholder Meeting (AIM Rule 26) and 2012 Annual ...
-Notice of Shareholder Meeting and 2011 Annual Report
2008 Annual Report
Financings of Kirkland Lake Gold Inc.
8/19/2009Bought deal private placement for proceeds of CDN$25 Million
2/2/2009Kirkland Lake Gold: PRIVATE PLACEMENT OF 2,200,000 UNITS FOR...
Nominations of Kirkland Lake Gold Inc.
7/23/2013Strengthens Board of Directors With the Appointment of Lead ...
4/26/2011Appoints Pamela Klessig, P. Geo, to Board of Directors; Wins...
9/11/2008 Mark Tessier Appointed as Vice President of Operations
9/11/2008appoointed Mark Tessier as Vice President of Operations
Financials of Kirkland Lake Gold Inc.
9/9/2013Fiscal 2014 First Quarter Operational and Financial Results
8/22/2013Fiscal 2014 First Quarter Operating Results
7/11/2013Fiscal 2013 Fourth Quarter and Full Year Operational and Fin...
12/13/2012Fiscal 2013 Q2 Operational and Financial Results
9/13/2012Fiscal 2013 Q1 Operational and Financial Results
7/5/2012Fiscal 2012 Year End Results
3/13/2012Fiscal 2012 Third Quarter Financial and Operational Results;...
12/8/2011Fiscal 2012 Second Quarter Financial and Operational Results
7/6/2011Operations Update and Fiscal 2011 Year End Results
4/5/2011December Year-End Reserve & Resources Update; High Grade Gol...
3/17/2011 Financial Results Q3 2011: Exploration Program Activity Inc...
5/14/2009Fourth Quarter Gold Production of 20,411 Ounces
12/15/2008REPORTS FINANCIAL RESULTS FISCAL Q2 2009
Project news of Kirkland Lake Gold Inc.
11/5/2012(South Mine Complex)South Mine Complex Extended Further East; Drill Hole 53-2111...
5/17/2012Announces Full-Year Production Results for Fiscal Year 2012
3/26/2012Temporary Power Interruption Disrupts Production
6/1/2011(South Mine Complex)Drill Hole 53-1794 Assays 1.05 Ounces of Gold Per Ton Over 3...
5/4/2011(Kirkland Lake West)Record Drill Hole Intersection at Kirkland Lake; Drill Hole ...
2/15/2011(Macassa)Two New Exploration Programs Intersect High-Grade Mineraliza...
6/15/2010(South Mine Complex)New Drilling Continues to Extend the South Mine Complex
9/29/2009(South Mine Complex)Additional High-Grade Gold Intersections on New Deep Discove...
9/15/2009(Kirkland Lake Projects)Operations Update and Q1 results
7/15/2009(South Mine Complex)Substantial Increases in Reserves & Resources of the South M...
4/29/2009(South Mine Complex)Discovers New High Grade Zone 700 Feet Below SMC
4/21/2009(South Mine Complex)South Mine Complex Production Commences; Company Wins 2008 M...
3/18/2009Kirkland Lake Gold Inc.: Drilling Continues to Intersect Hig...
1/20/2009(South Mine Complex)New South Central Zone Now Extends 450 feet Up-Dip of 5300 L...
12/17/2008(South Mine Complex) Update on South Mine Complex Development
11/18/2008(Kirkland Lake West ("kl West"))Drilling Continues to Expand Gold Zones within the South Min...
10/29/2008(South Mine Complex)To Expand Gold Production - BUY recommendation
9/30/2008Kirkland Lake Gold Inc: Drilling in the South Mine Complex C...
Corporate news of Kirkland Lake Gold Inc.
10/29/2013Enters Into Royalty Transaction With Franco-Nevada
9/19/2013SMC Continues to Extend East; Drill Hole 53-2291 Assays 13.2...
6/18/2013Surface Drilling Returns 16.75 Ounces Per Ton Gold Over 0.8 ...
5/21/2013/December 31st Reserve & Resources Update; Significant Incre...
5/14/2013Fiscal 2013 Fourth Quarter and Full Year Production Results
3/8/2013Announces Listing of $69 Million Convertible Debentures and ...
2/11/2013Announces Third Quarter Production Results
2/4/2013Fiscal 2013 Production Guidance Maintained and Service Cage ...
11/20/2012Announces Listing of $57.5 Million Convertible Debentures
11/20/2012Announces Listing of $57.5 Million Convertible Debentures
10/26/2012Results of Annual Meeting
10/16/2012Announces $60 Million Private Placement of Convertible Deben...
9/5/2012High-Grade Gold Mineralization Intersected in Surface and Un...
8/30/2012Closes Acquisition of Queenston Mining's 50% Stake in Former...
7/19/2012Announces Closing of $57.5 Million Private Placement of Conv...
6/28/2012Announces $50 Million Private Placement of Convertible Deben...
5/29/2012Announces Power Resumption
2/28/2012-Queenston Joint Venture Reports New Drill Results Including...
1/16/2012Directorate Change
11/15/2011(South Mine Complex)Latest High Grade Intersections on the South Mine Complex, N...
11/9/2011Completes Final Payment on 4% Net Smelter Royalty
10/18/2011Result of Annual Meeting
10/5/2011Fiscal 2012 First Quarter Financial Results; Gold Production...
9/7/2011-Queenston Joint Venture Report New Drill Results; 0.44 Ounc...
8/10/2011Announces Production for its Fiscal 2012 First Quarter
5/24/2011Announces Record April, Fourth Quarter & Full Year Gold Prod...
7/10/2009Obstruction in Main Pastefill Borehole impacts Gold Producti...
5/14/2009April Gold Production of 8,916 Ounces Sets Monthly Record
1/15/2009THIRD TRANCHE OF SHARES ISSUED & CASH PAYMENT MADE UNDER SOU...
9/24/2008Kirkland Lake Gold: New Director appointed to the Board
8/22/2008RESEARCH NOTE
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TORONTO (KGI.TO)LSE (KGI.L)
5.97+1.36%323.50+0.47%
TORONTO
CA$ 5.97
08/29 15:59 0.080
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