14 egf zurich-presentation-20 apr16-kirkland lake gold
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TSX:KGI 1 klgold.com
TSX:KGI
GROWTH & VALUE
Creating an Ontario
Focused Intermediate
Gold Producer
European Gold Forum | April 20, 2016
Park Hyatt Zurich
Presenter: Perry Ing, CPA-CA, CPA (Ill), CFA | CFO
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TSX:KGI 2 klgold.comTSX:KGI klgold.com2
Forward Looking Statements
Cautionary Note Regarding Forward Looking Statements.
Statements made in the Company’s handouts and as part of the corporate presentation contain 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 handouts and as part of the corporate
presentation include, but may not be limited to; statements regarding the Company’s guidance metrics for 2016 including,
gold production, head grade, cash operating costs, AISC, capital expenditures, revenue, cash flow from operations and free
cash flow generation; the exploration programs and associated budgets with respect to the Kirkland Lake Camp and East
Timmins Assets and the results and timing thereof, the medium to long-term strategy and potential of the Company to
continue to grow by way of organic growth and/or through various strategic transactions, including mergers and
acquisitions.
With respect to the forward looking information of Kirkland Lake and/or St Andrew Goldfields Ltd., concerning gold resources and reserves of the
Kirkland Lake properties and the East Timmins assets, and the development of the Kirkland Lake properties and the East Timmins assets 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 December 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.
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TSX:KGI 3 klgold.com
A New Mid-Tier Gold Producer
STRONG
LEADERSHIP
ROBUST PRODUCTION AND ASSET
DIVERSIFICATION FROM 4 MINES
INCREASED FINANCIAL FLEXIBILITY
AND SOLID BALANCE SHEET
EXPLORATION POTENTIAL IN TWO
HISTORIC CAMPS WITHIN THE
ABITIBI
SUSTAINABLE,
PROFITABLE
MID-TIER GOLD
PRODUCER
• Ontario focused gold producer targeting between
270-290 Koz’s in 2016
• Healthy balance sheet with $130 million in cash in
excess of the convertible debentures that come
due in 2017.
• Combined strong future cash flow generation.
• Consolidation of large land holdings in the heart of
two Ontario gold camps
• Robust level of reserves and resources with 2.3
Moz’s of P&P reserves, 4.7 Moz’s of M&I
resources plus an additional 3.9 Moz’s of inferred
resources.*
• Benefits with all Canadian assets leveraged to the
Canadian dollar gold price
See Appendix for more disclosure on MRMR statement which is as of
December 31, 2014.
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TSX:KGI 4 klgold.com
2016 Guidance Metrics
Guidance Metrics 2016 Guidance
Gold Production 1 (ounces) 270,000 – 290,000
Head Grade (g/t) 7.7 g/t Au
Cash Operating Cash Costs (C$/Oz) $800 - $850 (US$600-US$6503)
All-In Sustaining Costs 2 (C$/Oz of gold sold) $1,300 - $1,350 (US$1,000 – US$1,0503)
Total Capital Expenditures
(New & Sustaining Capital, Property, Plant & Equipment)
$120 Million
1 Production includes East Timmins for the first 25 days of January (7,189 ozs), as the acquisition of St Andrew Goldfields Ltd., did not close until
January 26, 2016.
2 AISC costs per ounce sold is a non-GAAP performance measures. While it is a common performance measures in the mining industry it does not
have any standardized meaning. The Company provides a reconciliation of its non-GAAP performance measures in its most recent Management
Discussion & Analysis (“MD&A”), for the period ended December 31, 2015.
3 USD:CAD exchange rate of 1.3
Q1/16 Production
69,654 ozs
Guidance
270 – 290 kozsOn track to meet 2016 Production Guidance
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TSX:KGI 5 klgold.com
Diversified Assets In A Prolific, Mining Friendly Region
East Timmins Operations (“ETO”)
Q1/16 Production1
28.4 koz Au
Q3 2015 AISC* US$934/oz Au
Holt Mill 3,000 tpd (75% utilized)
Resources & Reserves*
Total P&P
(including Hislop Mine)
0.8 Mozs (5.3 g/t Au)
Holt Mine 591 kozs (4.8 g/t Au)
Taylor Mine 156 kozs (6.3 g/t Au)
Holloway Mine 40 kozs (5.4 g/t Au)
Measured & Indicated
(Property Wide)
2.7 Mozs (2.4 g/t Au)
Inferred
(Property Wide)
2.2 Mozs (4.5 g/t Au)
Macassa Mine Complex
Q1/16 Production 41.1 koz Au
SY 2015 AISC2
US$977/oz Au
Macassa Mill 2,000 tpd (50% utilized)
Reserves & Resources*
Total P&P Reserves
(Macassa Mine Complex)
1.5 Mozs (19.2 g/t Au)
Measured & Indicated
(Property Wide)
2.0 Mozs (16.8 g/t Au)
Inferred (Property Wide) 1.7 Mozs (19.2 g/t Au)
*Resources are exclusive of Reserves. See Company websites for NI 43-101 disclosure
(www.kllgold.com; www.sasgoldmines.com)
Assets in close proximity
within an 80km radius,
accessed by provincial
highways.
QUÉBEC
1
Q1 Production from East Timmins Operations includes 7,189 ounces from ETO from
January 1 to January 25, 2016.
2
AISC is a non-GAAP measure, see SY2015 MDA for reconciliation of non-GAAP measures
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TSX:KGI 6 klgold.com
A Corner Stone
High-Grade Asset
MACASSA MINE
COMPLEX
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TSX:KGI 7 klgold.com
One of the Highest Grade Gold Mines In The World
Select Group of Producing Assets with +1Moz’s in Reserves
Mine Operator Location
Gold Grade Reserves Reserve Update
g/t Au Date
Macassa Mine Complex Kirkland Lake Gold Canada (Ontario) 19.2 1.5 Moz Dec/2014
Turquoise Ridge Barrick USA (Nevada) 16.9 4.2 Moz Dec/2015
Dvolnye Kinross Russia 15.0 1.0 Moz Dec/2015
Moab Khotsong AngloGold Ashanti South Africa 10.1 5,5 Moz Dec/2014
Mponeng AngloGold Ashanti South Africa 9.6 12.1 Moz Dec/2014
Red Lake Goldcorp Canada 9.1 2.1 Moz Dec/2015
Kupol Kinross Russia 8.5 2.1 Moz Dec/2015
TauTona AngloGold Ashanti South Africa 8.1 1.2 Moz Dec/2014
19.2
15.3 15.0
10.1 9.6 9.1 8.5 8.1
0.0
5.0
10.0
15.0
20.0
25.0
Macassa Mine
Complex
Turquoise Ridge Dvolnye Moab Khotsong Mponeng Red Lake Kupol Tau Tona
Gradeg/t
Reserve Grades
Company Source – This is a select group of Companies that illustrate producing mines only with mineral reserves in excess of 1Moz’s (gold only, no equivalent Au ounces shown)
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TSX:KGI 8 klgold.com
5025 Level
P+P 28,000 Tons @ 0.48 oz/ton 14,000 Oz’s
M+I 74,000 Tons @ 0.42 oz/ton 32,000 Oz’s
5300 Level
P+P 561,000 Tons @ 0.47 oz/ton 261,000 Oz’s
M+I 245,0000 Tons @ 0.43 oz/ton 107,000 Oz’s
5400 Level
P+P 370,000 Tons @ 0.61 oz/ton 226,000 Oz’s
M+I 174,000 Tons @ 0.42 oz/ton 72,000 Oz’s
5600 Level
P+P 239,000 Tons @ 0.77 oz/ton 183,000 Oz’s
M+I 186,000 Tons @ 0.63 oz/ton 117,000 Oz’s
5700 Level
P+P 202,000 Tons @ 1.03 oz/ton 208,000 Oz’s
M+I 164,000 Tons @ 0.91 oz/ton 96,000 Oz’s
South Mine Complex
OPEN
*Drawing not to scale
5800 to 6600 Level
P+P 50,000 Tons @ 0.83 oz/ton 41,000 Oz’s
M+I 551,000 Tons @ 0.91 oz/ton 499,000 Oz’s
OPEN
OPEN
16.5 g/t
16.1 g/t
20.9 g/t
26.4 g/t
35.3 g/t
28.5 g/t
Fully developed
and currently in
production
80% developed
with 6 stopes in
production
Currently in development, first
stopes expected to come into
production in Q4/16
Ramp development towards 5700
Level in progress, expected to start
developing this level in 2017
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TSX:KGI 9 klgold.com
Macassa Mine Complex
Reserves & Resources
Property Wide SMC
Mineral Reserves
(P&P)
1.5 Moz’s @ 19.2 g/t
2.4M tonnes
0.9 Moz’s @ 22.3 g/t
1.3M tonnes
Mineral Resources
(M&I)
2.0 Moz’s @ 16.8 g/t
3.8M tonnes
0.9 Moz’s @ 22.6 g/t
1.3M tonnes
Mineral Resources
(Inferred)
1.7 Moz’s @ 19.2 g/t
1.9M tonnes
0.9 Moz’s @ 22.3 g/t
1.2M tonnes
2016E
Gold Production 160 – 170 Koz’s 70% of tonnes from the SMC and 30%
from the ’04/Main Break
Head Grade 15.1 g/t Au Blended head grade based on tonnes
produced from each area of the mine.
Property, Plant & Equipment $25 Includes PP&E, and minor infrastructure
improvement projects
Capital Development $45 Includes new and sustaining capital
See Appendix for more disclosure on MRMR statement which is as of
December 31, 2014.
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TSX:KGI 10 klgold.com
Sustainable Assets
EAST TIMMINS
OPERATIONS
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TSX:KGI 11 klgold.com
East Timmins Assets along the PDFZ
Holt, Holloway, Taylor Producing Assets
Hislop Care & Maintenance
Ludgate, Aquarius Exploration Targets with existing resources
Garrison Creek Exploration Target
120km strike of contiguous land straddling the Porcupine-Destor Fault Zone
Blackfox Mine & Greyfox
Deposit (Primero Mining)
Aquarius
Hislop
Ludgate
Garrison
Creek
120km
N
Fenn-Gibb Deposit
(Lake Shore Gold)
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TSX:KGI 12 klgold.com
East Timmins Operations
Reserves & Resources
Property Wide
Mineral Reserves (P&P)
0.8 Moz’s @ 5.3 g/t
5.2M tonnes
Mineral Resources (M&I)
2.7 Moz’s @ 2.4 g/t
35.3M tonnes
Mineral Resources (Inferred)
2.2 Moz’s @ 4.5 g/t
14.9M tonnes
See Appendix for more disclosure on MRMR statement which is as of
December 31, 2014.
2016E
Gold Production 110 - 120 Koz’s Holt, Holloway and Taylor mines.
Head Grade 4.8 g/t Au Blended head grade based on tonnes
produced from each mine.
Property, Plant & Equipment $20 Includes PP&E, and minor infrastructure
improvement projects
Capital Development $30 Includes new and sustaining capital
HOLT MINE
~1,250tpd
HOLLOWAY MINE
~500tpd
TAYLOR MINE
~600tpd
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TSX:KGI 13 klgold.com
Organic Growth
Opportunities
EXPLORATION
PROGRAMS
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TSX:KGI 14 klgold.com
2016 Exploration Programs
Kirkland Lake Camp
(~$10MM)
Mine-site Exploration
(underground)
• SMC drilling to convert Inferred
resources into M&I, find new
resources to extend mine life.
•’04 Break drilling to identify a new
mining horizon at a higher elevation,
in closer proximity to the shaft.
Regional Exploration Program
(surface)
•Test for the extension of the SMC or a
new ore body similar to that of the
SMC.
•Test the Main Break at depth.
East Timmins Assets
(~$8MM)
Mine-site Exploration (surface
and underground)
• Focused exploration program to
delineate resources and extend mine-
life at the Holloway and Taylor mines.
Land Position Evaluation
• Continue to evaluate the East
Timmins land position and assets for
future exploration efforts either
towards the end of 2016 or beginning
of 2017.
• Asses assets for possible divestiture
or JV opportunities.
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TSX:KGI 15 klgold.com
Regional Exploration Across a Prolific Trend
• Initial results from our regional program do not appear to be Main Break related (Phase 1)
• Geophysics anomalies identified and follow-up targeting exercise completed as part of Phase 1a
• Phase 1a program has 2 remaining holes in progress.
• Phase 2 will target the Main Break at depth and consist of infill drilling.
Kirkland
Minerals
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TSX:KGI 16 klgold.com
Enhanced Market Profile
and Deleveraged
Balance Sheet
FINANCIAL
STRENGTH
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TSX:KGI 17 klgold.com
Financial Position
CASH C$130.5 million 1
DEBT
C$119 million 3
convertible debentures
(principal amount owing)
KGI.DB: 6% coupon/ $15.00 strike
C$56.9MM mature Jun/2017
KGI.DB.A: 7.5% coupon/ $13.70 strike
C$62.1MM mature Dec/2017
NCIB allows KGI to purchase up to 10% of each issue within a 12
month period commencing April 6, 2016, and can be renewed
annually
3
ROYALTY
2.5% NSR
Franco Nevada Corporation
Option to buyback 1% by October 31, 2016, at a cost of
US$36MM less any money paid against the 1%
52 Week Performance
2
HIGH C$9.53
LOW C$4.49
Current Share Price C$8.41
Major Shareholders (~40%)
2
Van Eck Associates Corporation (~10%)
Resolute Funds (~7%)
Eric Sprott (~6%)
Columbia Asset Management LLC (~5%)
Abramson Family (~5%)
Harry Dobson (~3%)
Sprott Asset Management (~3%)
Sentry Select (~3%)
CAPITAL STRUCTURE 2
ISSUED SHARES 115.5 million
Stock Options ~4.3 million
FULLY DILUTED ~119.8 million
MARKET CAP ~971 million
1 As at March 31, 2016: 2 As at April 1, 2016 3 See press release dated April 4, 2016 for details on the NCIB
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TSX:KGI 18 klgold.com
KGI 2 Year Relative Share Price Performance
50%
75%
100%
125%
150%
175%
200%
225%
250%
275%
300%
Apr-14 Jun-14 Aug-14 Oct-14 Dec-14 Feb-15 Apr-15 Jun-15 Aug-15 Oct-15 Dec-15 Feb-16 Apr-16
Kirkland Lake (TSX:KGI) Gold Price (C$ / oz) GDX Index (C$)
(1%)
13%
252%
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TSX:KGI 19 klgold.com
Investment Highlights
Strong leadership from an experienced board of directors
and management team with proven results.
Asset diversification with 4 mines and 2 mills in a safe
and mining friendly jurisdiction.
+270,000 ounces of production with AISC expected
between US$1,000 to US$1,050 for 2016.
~$1Billion market capitalization, increased trading
liquidity, and inclusion in the GDX index and possible
future inclusion in the S&P/TSX Composite index.
Pure Canadian producer highly leveraged to the
Canadian dollar gold price.
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TSX:KGI 20 klgold.com
APPENDIX
Notes, additional disclosure
and other information
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TSX:KGI 21 klgold.com
Experienced Team
Eric Sprott 2 Non-executive Chairman Barry Cooper, B.Sc., MBA 1 Non-executive Director
Michael Churchill, MBA 4 Non-executive Director Pamela Klessig, P.Geo. Non-executive Director
Barry Olson, M.Sc. 1 Non-executive Director Jeffrey Parr, CPA-CA, BA, MBA 1 Non-executive Director
Dawn Whittaker, LLB Non-executive Director George Ogilvie, P.Eng. Director
George Ogilvie, P.Eng. President & Chief Executive Officer
Perry Ing, CPA-CA, CPA (Ill), CFA 3 Chief Financial Officer
Chris Stewart, P.Eng. VP Operations
Doug Cater, P.Geo. 5 VP Exploration
Keyvan Salehi, P.Eng., MBA 5 VP Corporate Development
Jennifer Wagner, LL.B. Legal Counsel
Suzette N Ramcharan, CPIR Director, Investor Relations
Kevin Fearn, BA, CHRP, CHRL Director, Human Resources
Board of Directors
Senior Management
1 Appointed October 2014; 2 Appointed February 2015; 3 Appointed November 2015, 4 Appointed January 25, 2016, 5 Appointed
February 1, 2015
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TSX:KGI 22 klgold.com
Analyst Coverage
Firm Analyst
GMP Oliver Turner
Dundee Securities Ron Stewart
CIBC World Markets Cosmos Chiu
Macquarie Capital Markets Michael Siperco
BMO Capital Markets Brian Quast
M Partners Andrew Mikitchook
Mirabaud Securities Richard Morgan
Firm Analyst
Scotiabank Craig Johnston
PI Financial Philip Ker
Pareto Securities John McClintock
National Bank Financial Raj Ray
Clarus Securities Jamie Spratt
Investec Bank Hunter Hillcoat
Very Independent Research John Tumazos
KIRKLAND LAKE GOLD IS FOLLOWED BY THE ANALYSTS LISTED ABOVE. THIS LIST IS PROVIDED FOR INFORMATION PURPOSES ONLY AND IS SUBJECT TO CHANGE
AS COVERAGE IS ADDED OR DROPPED BY A FIRM.
OPINIONS, ESTIMATES OR FORECASTS REGARDING KIRKLAND LAKE GOLD'S PERFORMANCE THAT ARE MADE BY THESE ANALYSTS ARE THEIRS ALONE AND DO
NOT REPRESENT THE OPINIONS, ESTIMATES OR FORECASTS OF KIRKLAND LAKE GOLD OR ITS MANAGEMENT.
KIRKLAND LAKE GOLD DOES NOT IMPLY ITS ENDORSEMENT OF, OR CONCURRENCE WITH, SUCH INFORMATION, CONCLUSIONS OR RECOMMENDATIONS AND
TAKES NO RESPONSIBILITY FOR MONITORING, SUPPLEMENTING OR CORRECTING ANY INFORMATION OR FORECASTS PROVIDED BY THE ANALYSTS.
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TSX:KGI 23 klgold.com
KGI Reserve & Resource Estimates
Resources are exclusive of Reserves
Grade Grade Au Grade Grade Au Grade Grade Au
opt g/t (000's) opt g/t (000's) opt g/t (000's)
'04 & Main Break 545 0.43 494 14.7 236 583 0.48 529 16.5 278 1,128 0.46 1023 15.8 514
South Mine Complex 346 0.51 314 17.5 177 1,120 0.69 1016 23.7 773 1,467 0.65 1,331 22.3 949
Macassa Mine Complex 891 0.46 808 15.8 412 1,703 0.62 1,545 21.3 1,051 2,595 0.56 2,354 19.2 1,463
Proven
Tonnes
(000's)
Tons
(000's)
Tonnes
(000's)
Zone
Probable Proven & Probable
Tons
(000's)
Tonnes
(000's)
Tons
(000's)
MINERAL RESERVES - As at December 31, 2014
Note: Columns may not add due to rounding. Macassa Mine Complex reserves the ’04 & Main Break and the SMC.
MINERAL RESOURCES - As at December 31, 2014
Grade Grade Au
opt g/t (000's)
04 & Main Break 485 0.41 440 14.1 201
SMC 1,358 0.65 1,232 22.3 876
Near Surface Target 100 0.42 91 14.4 42
Property Wide 2,114 0.56 1,918 19.2 1,777
Zone
Tons (000's) Tonnes (000's)
Inferred
Note: Columns may not add due to rounding. Property Wide resources include the ’04 &
Main Break, SMC, Near Surface Target, as well as peripheral resources blocks (such as
the Lakeshore Ramp).
Grade Grade Au Grade Grade Au Grade Grade Au
opt g/t (000's) opt g/t (000's) opt g/t (000's)
04 & Main Break 1063 0.4 964 13.7 430 1148 0.42 1041 14.4 483 2,211 0.41 2006 14.1 913
SMC 33 0.37 30 12.7 12 1377 0.67 1249 23.0 917 1,410 0.66 1279 22.6 929
Near Surface Target - - - - - 330 0.34 299 11.7 112 330 0.34 299 11.7 112
Property Wide 1106 0.4 1003 13.7 447 3,096 0.52 2,809 17.8 1,599 4,202 0.49 3,812 16.8 2,047
Measured
Tons
(000's)
Tonnes
(000's)
Zone
Indicated Measured & Indicated
Tons
(000's)
Tonnes
(000's)
Tons
(000's)
Tonnes
(000's)
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TSX:KGI 24 klgold.com
QP Info and Notes to Reserves & Resources
The reserve and resource estimates have been audited and verified, and the technical disclosure in the press release dated April 13, 2015, has been
approved, by the Company’s independent reserve and resource engineer, Glenn R. Clark, P. Eng., of Glenn R. Clark & Associates Limited. Mr. Clark
is a ‘qualified person’ under National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators. The
report detailing the December 31, 2014, reserve and resource estimates is available on SEDAR (www.sedar.com). See ‘Notes for Reserves and
Resources’ below for key assumptions, parameters and methods used to estimate the foregoing reserves and resources.
Notes for Reserves and Resources:
The reserves and resources have been classified according to the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral
Resources and Reserves: Definition and Guidelines (December 2005).
1. The reserves and resources are estimated using the polygonal method.
2. Resources do not include reserves.
3. All intersections are calculated to a 6.0 foot minimum horizontal mining width for structures dipping at greater than 45 degrees. The minimum
mining height for structures dipping less than 45 degrees is 9.0 feet.
4. Dilution is added to reserves at varying rates depending on the mining method, and the width of the ore. The average dilution of the reserves at
December 31, 2014, is 27% at 0.02 opt, marginally up from an average of 24.0% the previous year. Long-hole stopes are diluted by anywhere
between 50-100% (mostly 50%). Cut and fill stopes are diluted by anywhere between 10-50%.
5. All higher grades are cut to 3.50 opt. Based on a statistical analysis completed by Scott Wilson Roscoe Postle Associates Inc. in 2007, the
Company has implemented various higher grade cutting factors for four zones in the South Mine Complex. These four zones are the New South
Zone (7.20 opt), Lower D North (9.30 opt), Lower D North Footwall (4.80 opt), and the #7 and #7 HW Zones (6.40 opt). Cut-off grades of 0.22 opt
and 0.18 opt are used for reserve and resource calculations respectively, depending on the location, and economics of the block. Generally, a cut-
off of 0.22 opt is required on a whole-block basis to achieve profitability and reserve classification. It is possible to have sub-blocks within an ore
reserve block that assay less than any cut-off which have been incorporated for mining or geotechnical reasons. Ore blocks that grade between
0.18 opt and the cut-off of 0.22 opt have been classified as resource. The cut-off grade for near-surface resources (surface to -1,000 foot
elevation) is 0.12 opt. An internal report completed by Roscoe Postle and Associates in October 2014, suggest that the cutting factor for
mineralization on the Amalgamated Trend be set at 2.50 opt. This grade capping was implemented by the Company and incorporated in the
estimates for 2014.
6. The area of influence of the proven and measured categories are 30 feet from development chip samples, probable and indicated categories are
50 feet of radius from a known sample point (drill holes) and inferred is another 50 feet of influence (between 50 – 100 feet).
7. A 94.2% tonnage recovery is used. Continuity of the veins appears very good.
8. The assumptions used include CAD$1,350.00 (US$1,200) per ounce of gold.
9. The Company is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing or other issue that may materially affect
its estimate of mineral resources.
10. Mineral resources which are not mineral reserves do not have demonstrated economic viability.
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TSX:KGI 25 klgold.com
East Timmins Assets – Mineral Reserves & Resources
Total Reserves Measured Indicated
Measured +
Indicated
Inferred
Tonnes
('000)
Grade
(g/t Au)
Ounces Au
('000 oz)
Tonnes
('000)
Grade
(g/t Au)
Ounces Au
('000 oz)
Tonnes
('000)
Grade
(g/t Au)
Ounces Au
('000 oz)
Tonnes
('000)
Grade
(g/t Au)
Ounces Au
('000 oz)
Tonnes
('000)
Grade
(g/t Au)
Ounces Au
('000 oz)
Holt 3,866 4.75 591 3,702 3.97 473 3,861 3.90 485 7,563 3.94 957 7,866 4.67 1,181
Holloway 233 5.35 40 310 4.71 47 482 4.54 70 792 4.61 117 2,479 4.88 389
Taylor 774 6.27 156 0 0.00 0 2,323 4.76 356 2,323 4.76 356 1,951 4.10 257
Hislop 280 5.16 46 0 0 0 983 4.01 127 983 4.01 127 690 4.16 92
Aquarius - 0 0.00 0 22,300 1.29 926 22,300 1.29 926 9 0.79 0
Clavos - 0 0.00 0 503 4.81 78 503 4.81 78 318 4.73 48
Ludgate - 0 0.00 0 522 4.06 68 522 4.06 68 1,396 3.60 162
Canamax - 0 0.00 0 240 5.09 39 240 5.09 39 170 4.26 23
Total 5,153 5.03 833 4,012 4.03 520 31,214 2.14 2,149 35,227 2.36 2,668 14,879 4.50 2,154
As at December 31, 2014 - See website for notes and additional 43-101 disclosure (www.sasgoldmines.com)
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www.klgold.com
Suzette N Ramcharan, CPIR
Director of Investor Relations
+1-647-361-0200
info@klgold.com
TSX:KGI