Agnico Eagle Mines Ltd (AEM)

[NYBob]

Kirkland Lake Gold Increases Fosterville Mine’s 2018 Production Outlook to Over 330,000 Ounces
TORONTO, Nov. 30, 2018 (GLOBE NEWSWIRE) --

Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL)
(NYSE:KL) (ASX:KLA) today announced that the Company’s
Fosterville Mine is on track for record quarterly production in the
fourth quarter of 2018 (“Q4 2018”), with full-year 2018 production now
expected to exceed 330,000 ounces versus current guidance of 300,000 –
310,000 ounces.
Fosterville’s strong Q4 2018 performance largely reflects higher than
expected grades and the advancement of two additional stopes from the
high-grade Swan Zone into the mine’s Q4 2018 production plan.
Based on the improved outlook for Fosterville, the Company now
anticipates that full-year 2018 consolidated production will
exceed the current target range of 655,000 – 670,000 ounces.

On a quarter-to-date basis, the mill grade at Fosterville in
Q4 2018 has averaged over 35.0 grams per tonne, well above target
levels for the quarter.

The outperformance largely relates to increased operating development
activity around the Swan Zone and higher than planned grades from
development tonnes processed.
In addition, recent stope production from both the Swan and Eagle zones
achieved substantially higher than expected grades.
With increased operating development metres being completed, the
Company has added two Swan Zone stopes to the mine plan for Q4 2018,
which is also expected to contribute to increased levels of production.

Tony Makuch, President and CEO of Kirkland Lake Gold, commented:
“Fosterville is clearly firing on all cylinders heading towards the end
of the year, with Q4 2018 production on track to easily beat the
current production record of 90,618 ounces, achieved last quarter.
We continue to see significant grade outperformance from stopes in both
the Swan and Eagle zones.
We have also benefited from higher than expected grades when processing
development tonnes taken from around the Swan Zone and have been able
to add two Swan stopes to the Q4 2018 production plan based on
development metres completed.
The higher than expected grades from both development and run-of-mine
production, along with the exceptionally high grades reported from
recent drilling results, provide confirmation that the presence of
high-grade quartz veins with visible gold is more prolific than
estimated in the current block model.
Higher than planned grades are leading to increased levels of
production in 2018 and are expected to favourably impact production
levels in both 2019 and 2020. Strong results at
Fosterville during Q4 2018, as well as a solid performance from our
Canadian operations to date in the quarter, are positioning us to end
2018 with total production for the full year exceeding our current
target range of 655,000 – 670,000 ounces.”

Qualified Persons

Troy Fuller, MAIG, Geology Manager, Fosterville Gold Mine, and Ion Hann,
FAusIMM, General Manager, Fosterville Gold Mine, are "qualified
persons" as such term is defined in National Instrument 43-101 and
have reviewed and approved the technical information and data included
in this News Release.

About Kirkland Lake Gold Ltd.

Kirkland Lake Gold Ltd. is a mid-tier gold producer with 2018 production
targeted at over 670,000 ounces of gold from mines in Canada and
Australia.
The production profile of the Company is anchored by two high-grade,
low-cost operations, including
the Macassa Mine located in Northeastern 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 and operational expertise.

For further information on Kirkland Lake Gold and to receive news
releases by email, visit the website
http://www.klgold.com.

Cautionary Note Regarding Forward-Looking Information

This press release contains “forward looking statements” and "forward-
looking information" ---- on forecasts of future operational or
financial results and estimates of management.

Investors are cautioned that forward-looking information is not based on
historical facts but instead reflect Kirkland Lake Gold's management's
expectations, estimates ---- regulatory authorities in certain
provinces of Canada and available at
http://www.sedar.com.

Should one or more of these risks or uncertainties materialize, or ----
do not assume any obligation, to update this forward-looking
information except as otherwise required by applicable law.

Cautionary Note to U.S. Investors – Mineral Reserve and Resource Definitions

The terms "Mineral Resource" and "measured Mineral Resource" are defined
in and required to be disclosed in accordance with Canadian National
Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI
43-101") and ----deposits in these categories will ever be converted
into reserves.

FOR FURTHER INFORMATION PLEASE CONTACT

Anthony Makuch, President, Chief Executive Officer & Director
Phone: [phone]
E-mail: [e-mail]

Mark Utting, Vice President, Investor Relations
Phone: [phone]
E-mail: [e-mail]

https://web.tmxmoney.com/article.php?newsid=8338304333222139&qm_symbol=KL

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