Kirkland Lake Gold Feb 2017 BMO Conference Presentation

1. FEBRUARY 2017
TONY MAKUCH
President & Chief Executive Officer
KLGOLD.COM
TSX: KL
OTCQX: KLGDF
TIER ONE GOLD PRODUCTION | DISTRICT SCALE EXPLORATION | VALUATION UPSIDE
1

2. KLGOLD.COM
TSX:KLFORWARD LOOKING STATEMENTS
Cautionary Note Regarding Forward-Looking Information
This presentation contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans,
intentions, beliefs and current expectations of Kirkland Lake Gold Ltd. (“Kirkland Lake Gold”) with respect to future business activities and operating and financial performance.
Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar
expressions and include information regarding: (i) expectations for the ability of the combined company to successfully achieve business objectives, including integrating the
companies or the effects of unexpected costs, liabilities or delays, (iii) the potential benefits and synergies of the combined company, (iv) future production, cash costs, free cash
flows,and operations,and (v) expectationsfor other economic, business,and/orcompetitivefactors.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management’s expectations, estimates or projections concerning future results or events
based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Kirkland Lake Gold believes that the expectations reflected in
such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors
could have material adverse effects on future results, performance or achievements of the combined company. Among the key factors that could cause actual results to differ materially from those
projected in the forward-looking information are the following: the ability of Kirkland Lake Gold to successfully integrate their respective operations and employees and realize synergies and cost
savings at the times, and to the extent, anticipated; the potential impact on exploration activities; the potential impact of the announcement or consummation of the transaction on relationships,
including with regulatory bodies, employees, suppliers, customers and competitors; the re-rating potential of the combined company; changes in general economic, business and political conditions,
including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the integration of the two
companies. This forward-looking information may be affected by risks and uncertainties in the business of Kirkland Lake Gold market conditions. This information is qualified in its entirety by cautionary
statements and risk factor disclosure contained in filings made by Kirkland Lake Gold Inc. (“KLG”) and Newmarket Gold Inc. (“Newmarket”), with the Canadian securities regulators, including KLG’s and
Newmarket’s respective annual information forms, financial statements and related MD&A for the financial year ended December 31, 2015 and their respective interim financial reports and related
MD&A for the period ended September 30, 2016 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 information prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed, estimated or expected. Although Kirkland Lake Gold and Newmarket have 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. Kirkland Lake Gold does not intend, and do not assume any
obligation, to update this forward-looking information except as otherwise required by applicable law.
All dollar amounts in this presentation are expressed in U.S. Dollars unless otherwise noted.
Use of Non-GAAP Measures
This Presentation refers to average realized price, operating costs, all-in sustaining costs per ounce of gold sold, free cash flow and cash costs of production because certain
readers may use this information to assess the Company’s performance and also to determine the Company’s ability to generate cash flow. This data is furnished to provide
additional information and are non-GAAP measures and do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”). These
measures should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and are not necessarily indicative of operating costs
presentedunder IFRS. Refer to each Company’smost recent MD&A for a reconciliationof these measures.

3. KLGOLD.COM
TSX:KLWHY INVEST IN KL GOLD?
1. Refer to Slide 2 “Forward Looking Information” 2017 estimated production guidance 500,000 – 525,000 ounces. 2.Cash position as at Dec 31, 2016, 2016 3. See Non-GAAP Measures sections in forward looking statements; Operating Cash
Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28. 4.See Kirkland Lake Press release dated Feb 27, 2017 for additional detail. 5. Source: Company filings, FactSet
and available equity research at Feb 16, 2017. Production and Cash Flow are broker consensus averages exclude Kirkland Lake.
1
3
7.0
10.0
KL Gold Peer Average
$3,171
$4,873
KL Gold Peer Average
Operating Platform in Tier
1 Mining Jurisdictions
Strong Balance Sheet
& Low Cost Production
District Scale
Exploration Potential
Strong Value Proposition5
Enterprise value
to ounce of 2017
production
2017 Price to
Cash flow
• 2017 guidance of approximately 525,0001 ounces from five underground gold mines in
Canada & Australia.
• Macassa Gold Mine record results (FY/16 175koz)(Q4/16 52koz)
• Fosterville Gold Mine record results (FY/16 151koz) (Q4/16 44koz)
• Cash Position US$234 million2
• 2017 Operating costs US$625 – $675/oz & AISC US$950 - $1,000/oz3
• Preliminary consolidated 2016 full year operating cost $575/oz and AISC $920/oz and
Q4, 2016 operating cost $535/oz and AISC $875/oz4
• Significant discovery and expansion potential in established gold camps
• +20 drill rigs in operation across Canada & Australia
• 2017 growth exploration budget of US$45 - $55 million

4. KLGOLD.COM
TSX:KLOPERATING PLATFORM IN TIER 1 MINING JURISDICTIONS
4
295,838 oz
239,724 oz
100,000
150,000
200,000
250,000
300,000
350,000
Canadian Operations Australian Operations
2016 Gold Production By Country
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
550,000
600,000
Pro Forma Consolidated
1.Pro forma information operating results from: (i) the former Newmarket Gold Inc. (“Newmarket”) assets for the entire 12-month period ended December 31, 2016 including the period from January 1, 2016 to November 29, 2016 prior to the merger with Kirkland Lake Gold Inc. (“KLG”) on November
30, 2016 (See Newmarket Press Release dated November 3, 2016); and (ii) the Holt Mine Complex for the entire 12-month period ended December 31, 2016, including the period of January 1, 2016 to January 25, 2016 prior to the acquisition of St Andrew Goldfields Ltd. (“SAS”) by KLG on January 26,
2016 (See KLG press release dated May 12, 2016). See Press Releases dated January 9, 2017 and February 27, 2017 filed on the SEDAR profile of the Company
1
542,751 oz
• Canadian gold operations exceeded 2016
guidance of 270k – 290k ounces
• Australian operations exceeded 2016
production guidance of 225k – 235k ounces
• Preliminary consolidated 20161 operating
cost per ounce2 of $575, well below the
lowest range of the operating cost guidance
of US$600-$650
• Preliminary consolidated all in sustaining
cost (“AISC”) per ounce2 of $920 in 2016
versus guidance of US$1,000-1,050

5. KLGOLD.COM
TSX:KL
5
CANADIAN OPERATIONS AUSTRALIAN OPERATIONS
(U.S.)$
Macassa
Mine
Holt Gold
Mine
Taylor Gold
Mine
Fosterville
Gold Mine
Cosmo Gold
Mine
Consolidated
Gold Production (oz)
180,000 –
185,000
65,000 –
70,000
55,000 –
60,000
140,000 –
145,000
60,000 –
65,000
500,000 – 525,000
Operating Cash Costs per Ounce1,2 $552 –
$568
$672 –
$723
$551 –
$601
$467 –
$484
$941 –
$1020
$625-$675
AISC per Ounce1,2
$950-$1,000
Sustaining Capital and growth
capital ($ million)
$180-$200
Exploration Expenditure ($ million) $45-$55
Royalty cost ($ million) $16-$20
G & A $14
2017 OUTLOOK FOR THE NEW KL GOLD
1) See Non-GAAP Measures sections in forward looking statements; 2) Operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28. See Press
Release dated February 27, 2017 filed on the SEDAR profile of the Company.
Macassa
36%
Taylor
11%
Fosterville
28%
Holt
13%
Cosmo
12%
2017E
production
by Mine

6. KLGOLD.COM
TSX:KL
61 Preliminary Cash position is as at December 31, 2017 press release, see release for additional details 2 Non-GAAP measures, refer to slide 2 “Cautionary Language”, Canadian: US Dollar exchange $0.75
STRONG BALANCE SHEET(as at December 31, 2016)
Cash US$234 million
Convertible Debentures US$89 million
KGI.DB: 6% C$15.00 conversion price C$56.9MM mature
June 2017
KGI.DB.A: 7.5% C$13.70 conversion price C$62.1MM mature
Dec 2017
Net Cash US$145 million
CAPITAL STRUCTURE & OWNERSHIP (as at December 31, 2016)
1,2,3
Issued & Outstanding 203 million
Fully Diluted Including Convertible Debentures 220.8 million
Market Capitalization (February 15, 2017) +CAD$ 2.1 Billion
Daily Avr. Volume – 50 day (February15, 2017) 1.2 million shares
52 week high – low (TSX - CAD) $11.15 - $3.47
Insider Ownership (Eric Sprott) ~10%
 No gold hedging in place
Fosterville Gold Mine, Australia Macassa Gold Mine, Ontario
STRONG FINANCIAL POSITION
 Change in reporting currently to US$ for
December 31, 2016 year end financial results

7. KLGOLD.COM
TSX:KLHIGH GRADE, LOW COST CORNERSTONE ASSETS
CORNERSTONE ASSETS
LOW COST OUNCES
DISTRICT SCALE GROWTH
Source: Company Guidance, respective NI 43-101 reports (see appendix), and YTD/2016 results Refer to appendix for “NI 43-101 Disclosure”. Refer to slide 2 “Cautionary Language” use of Non-GAAP measures..
1. Kirkland Lake Gold guidance provided Jan 9, 2017, refers to high end range of guidance 2. Pro Forma 2016 YTD Operating Cash Costs and All-in Sustaining Costs as at September 30, 2016 YTD
7
CORNERSTONE ASSETS
LOW COST OUNCES
DISTRICT SCALE GROWTH
Macassa Mine
Fosterville Gold
Mine
Taylor Gold
Mine
Consolidated
P&P Reserve Grade (g/t Au) 19.2 7.0 6.3 13.7
2016 FY Production (oz) 175,167 151,755 42,639 > 369,000
Operating Costs (US$/Oz Sold) Q3 YTD/16A1 US$568 US$461 US$433 < US$600
AISC (US$/Oz Sold) Q3 YTD/16A1 US$935 US$743 US$670 < US$825
• Macassa Gold Mine, Fosterville Gold Mine & Taylor Gold Mine
• ~ 75% of 2017E production
• Growth potential with excess milling capacity at each mill
• <US$600 Operating Costs and <US$825 AISC2 (YTD 2016A)
• Fosterville exploration lease +500km2
• Macassa exploration lease +40km2
• 120 Km land package along prolific Porcupine Destor Fault

8. KLGOLD.COM
TSX:KL
8
MACASSA: KEY VALUATION DRIVER FOR KL GOLD
41,054
38,929
42,866
52,318
15.3
12.2
13.7
16.3
10
11
12
13
14
15
16
17
18
19
20
Q1 - 16 Q2- 16 Q3 - 16 Q4 - 16
30,000
35,000
40,000
45,000
50,000
55,000
GoldProduction(oz)
GoldGrade(g/t)
MINERAL RESOURCE & RESERVES (Dec 31. 2014)
Proven and Probable Mineral Reserves 1.46 million ounces of gold grading
19.3g/t gold. (Dec 31. 2014)1
Measured and Indicated Mineral Resources are exclusive of Mineral Reserves
contain 2.0 million ounces grading 16.8 g/t gold
Extensive surface and underground drilling underway
$970 $1,003
$959
$820
$612 $644
$546
$415
SY 2015 Q2 2016 Q3 2016 Q4 2016
Production Costs US$/oz2,3 AISC OCC
The Macassa Mine is a high-grade gold mine,
with grade improving at depth, located in
Kirkland Lake, Ontario
1. Refer to appendix for NI 43-101Disclosure 2. SY refers to Stub Year 2015 referencing April 30, 2015 to December 31 2015 8 months 3. .See Kirkland Lake Press release dated Feb 27, 2017 for additional detail reporting
preliminary Q4 2016 operating and AISC

9. KLGOLD.COM
TSX:KLPLAN VIEW OF PROJECT AREA – KIRKLAND LAKE GOLD CAMP
9
• The Kirkland Lake gold camp
has been in productionfor +
100 years
• One of the highest grade gold
camps in the world
• Almost 25 Moz’s has been
produced to date, from seven
mines
• Kirkland Lake Gold owns five
former producinghigh grade
mines with historical
production of ~22 Moz’s of
gold
• Average head grade of 15.1 g/tSouth Mine Complex Gold DepositSMC

10. KLGOLD.COM
TSX:KLREGIONAL EXPLORATION ACROSS A PROLIFIC TREND
See KLG press releases dated January 19, 2016 and November 7, 2016 filed on the sedar profile of KLG on www.sedar.com
• Significant expansion potential down dip, along strike
• Previously released surface exploration results to the east returned values of 29.5 g/t gold over 0.3m (AB-15-92) and 28.1 g/t gold
over 0.6m.(AB-15-106)
• Recent Highlight results along the easterly strike of the SMC include:
• 651.8 g/t gold over 3.8 metres, 102.5 g/t gold over 3.2 metres and 100.5 g/t gold over 1.6 metres
10
SMC

11. KLGOLD.COM
TSX:KL
11
FOSTERVILLE GOLD MINE: LOW COST PRODUCER
33,138
37,245 36,967
44,406
7.34 7.5
6.91
8.48
6
6.5
7
7.5
8
8.5
9
9.5
10
Q1 - 16 Q2- 16 Q3 - 16 Q4 - 16
20,000
25,000
30,000
35,000
40,000
45,000
50,000
GoldProduction(oz)
GoldGrade(g/t)
MINERAL RESOURCE & RESERVES(Dec 31. 2015)
Proven and Probable underground Mineral Reserves increased 34% to
244,000 ounces of gold. (Dec 31. 2015)1
Mineral Reserve grade increased 25% grading 6.95 g/t gold (Dec 31. 2015)
Fosterville’s current mining front comprising the Phoenix and Lower Phoenix gold
systems, and associated structures, host Measured and Indicated Mineral Resources
containing 673,000 ounces grading 8.33 g/t and Inferred Mineral Resource of
101,000 ounces grading 9.49 g/t gold
$723 $741 $765
$645
$473 $440 $471
$420
Q1 16 Q2 16 Q3 16 Q4 16
Production Costs US$/oz2 AISC OCC
The Fosterville Gold Mine is the largest gold
producer in the state of Victoria, Australia
1. Refer to appendix for NI 43-101 Disclosure.2.See Kirkland Lake Press release dated Feb 27, 2017 for additional detail, costs presented for Q4 16 only represent the one month since the transaction with Newmarket Gold ending December 31, 2016 reporting
preliminary Q4 2016 operating and AISC

12. KLGOLD.COM
TSX:KL
12
Harrier Drill Drive
12.5 g/t Au over 2.4m
12.75 g/t Au over 4.5m
Lower Phoenix
Drill Targets
Harrier Decline
Harrier
4.4 g/t Au over 6.1m
6.5 g/t Au over 25m
9.3 g/t Au over 3.3m
9.2 g/t Au
over 11.8m
7.3 g/t Au
over 13.9m
8050mN
6.2 g/t Au over 1.9m
22.1 g/t Au over 3.3m
First recorded visible
gold from Harrier
16.6 g/t Au
over 3.05m 11.99 g/t Au over 3.4m
14.25 g/t Au over 3.6m
11.1 g/t Au over 4.9m
12.8 g/t Au over 8.5m
112 g/t Au over 11.9m
501 g/t Au over 4.5m
386 g/t Au over 3.4m
16.4 g/t Au over 16.5m
73.2 g/t Au over 7.8m
64.80 g/t Au over 4.3m
(VG)
46.2 g/t Au
over 6.6m (VG)
283 g/t Au over 2.8m
13.4 g/t Au over 3.8m
75.7 g/t Au over 5.4m
194 g/t Au over 3.1m
550 g/t Au over 3.5m
129 g/t Au
over 6.2m (VG)
645 g/t Au
over 3.4m
1,429 g/t Au over 4.97m
FOSTERVILLE GOLD MINE: DRILLING SUCCESS
Mineral Resources, Reserves and mining
as at December31, 2015
• Consistently intersecting high-grade gold in multiple zones: Harrier, Lower Phoenix, Lower Phoenix South and
Lower Phoenix North with grade increasing at depth on all zones
• Key intercepts Lower Phoenix South & North: 12.75 g/t gold over 4.5m, 13.4g/t gold over 3.8m, 12.5 g/t gold
over 2.4m, & 7.3 g/t gold over 13.9m
• High-Grade Visible Gold (VG) intercepts at Harrier Gold Zone; 64.8 g/t gold over 4.3m, 46.2 g/t gold over
6.6m
• Record high-grade drill intercept on the Lower Phoenix foot wall announced Jan 17, 2017 including 1,429
g/t gold over 4.97m
All intercepts presented are estimated true width

13. KLGOLD.COM
TSX:KL
13
FOSTERVILLE GOLD MINE: DISTRICT SCALE POTENTIAL
Harrier Drill Drive
= Visible gold elevation
depth, increasingwith
depth
Current Mining FrontBLOCK A
BLOCK C
BLOCK D
BLOCK B
Lower Phoenix
Phoenix
 Current Mining Front, UG Reserve 244,000 ounces at 6.95g/t Au with Measured and Indicated resources of 673,000 ounces at
8.33 g/t Au and Inferred Resources of 101,000 ounces at 9.49 g/t Au as of Dec 20152
 With additional drilling success blocks A,B,C and D are targeted to add +5 years of additional mine life on top of current
reserves and resources (Block B drilling underway testing 1000 metres down plunge from current resources/reserves)
 Mill Capacity +850k tpa, currently at ~700k tpa. opportunity to open additional mining fronts (three total) in Block A and Block D
 Additionally there are over 20 kilometers of potential gold bearing structures on the 505km2
Fosterville property highlighting the exceptional potential of this district
1. Refer to slide 2 forwardlooking “CautionaryLanguage’2. Refer to Slide 39-43 “NI 43-101 Disclosure

14. KLGOLD.COM
TSX:KLFOSTERVILLE FAULT MINING LEASE LONG SECTION
14
Target
Target
Target
Current mining front
Mining lease long section ~17km2) contains ~10km strike length of Mineral Resources with ~7km on Fosterville
Fault Line and ~3km on the O’Dwyer’s Fault Line
Shallow, limited drilling North of the Central North past producing open pit
Near mine mineralization remains open along strike and down plunge, gradual grade increasing at depth in the
Lower Phoenix and Harrier zones
Fosterville Fault is one of many gold bearing structures within a 505km2 exploration lease land package
Limited shallow 50-100m drilling

15. KLGOLD.COM
TSX:KLFOSTERVILLE REGIONAL POTENTIAL
15
• Mining lease (MIN5404:~17km2) contains ~10km strike length of
Mineral Resources with ~7km on Fosterville Fault Line and ~3km
on the O’Dwyer’s Fault Line.
• Surrounding exploration leases encompass ~505km2 and
contain ~60km of potential gold-bearing structures along 7
interpreted fault lines.
• 5 of the 7 lines contain known gold occurrences with historic
resources and/or historic workings.
• The FGM processing plant is located within 30km of prospective
targets.
• Limited exploration work on surrounding exploration lease
• The 2017 exploration program includes planned drilling for the
Sugarloaf Line (SW of operation), soil sampling in northern part
of exploration lease and 2D seismic lines over northern and
southern ends of mining lease.
• District scale potential within a well known camp of multi-
million ounce gold deposits
673,000 ounces M&I
resources at 8.33 g/t
gold1, current mining
front*
Fosterville mill
* Refer to appendix NI 43-101 technical disclosure

16. KLGOLD.COM
TSX:KL
16
TAYLOR GOLD MINE: KL GOLD’S NEWEST PRODUCER
7,347
11,408
11,630
10,048
7.6
6
7.1
6.7
5
5.5
6
6.5
7
7.5
8
Q1 - 16 Q2- 16 Q3 - 16 Q4 - 16
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
GoldProduction(oz)
GoldGrade(g/t)
MINERAL RESOURCE & RESERVES(Dec 31. 2014)
Proven and Probable Mineral Reserves 156,000 ounces of gold, grading 6.3 g/t
(Dec 31. 2014)1
Measured and Indicated Resources 302,000 ounces of gold grading 4.5 g/t
Kirkland Lake Gold’s newest mine, first full year production
Significant exploration potential along the Porcupine Destor Fault Zone
$732
$670
$379
$433
Q3 - 16 Q3 YTD
Production Costs US$/oz AISC OCC
The Taylor Gold Mine is high-grade cornerstone
asset for the company, located approx.70 km
west of the Holt Mill
1. Refer to appendix for NI 43-101Disclosure

17. KLGOLD.COM
TSX:KLTAYLOR GOLD MINE: UPSIDE POTENTIAL
1.5km1.5km Multi-rig diamond drilling underway
 Recent drill results announced new
discoveries and extensions at the Taylor
Gold Mine Complex
 10.31 g/t Au over 3.2 m new WPZ Deposit
style mineralization approximately 300 m to
the west
 9.50 g/t Au over 4.5 m identifies up-dip
extension of the WPZ Deposit 1004 Zone
 3.29 g/t Au over 9.6 m and 4.59 g/t Au over
5.8 m on surface, identifies new
mineralization 800 m east of the Shaft
Deposit
17
10.3 g/t Au over 3.2 m
9.5 g/t Au over 4.5 m
3.29 g/t Au over 9.6 m and 4.59 g/t
Au over 5.8 m
Longitudinal View Looking North
39.6 g/t Au over 1.1 m
(14.6 g/t Au over 1.1 m cut)
13.9 g/t Au over 1.5 m
(12.7 g/t Au over 1.5 cut)

18. KLGOLD.COM
TSX:KL
18
PROJECT LOCATION – DISCTRIC SCALE OPPORTUNITY

19. KLGOLD.COM
TSX:KLVALUE PROPOSTION
19
Price / 2017E Cash Flow1P / NAV1
Source: Company filings, FactSet, Bloomberg, and available equity research, market data as of Feb 16, 2017 1. NAV, Production, and Cash Flow based on broker consensus; Averages exclude Kirkland Lake
EV / 2017E Production1
$6,167
$6,057
$5,761
$5,476
$5,008
$5,003
$4,170
$3,985
$3,619
$3,481
$3,171
Torex
Guyana
Alamos
Richmont
Detour
Northern Star
Klondex
Regis
New Gold
OceanaGold
Kirkland Lake
Peer Avg. US$4,873/oz
16.0x
12.9x
12.0x
11.9x
11.1x
10.5x
8.3x
7.0x
6.5x
6.1x
5.3x
Alamos
Guyana
Klondex
Richmont
Torex
Detour
Regis
Kirkland Lake
Northern Star
New Gold
OceanaGold
Peer Avg. 10.1x
1.46x
1.28x
1.24x
1.22x
1.20x
1.20x
1.13x
1.12x
1.09x
0.90x
0.74x
Klondex
Regis
OceanaGold
Kirkland Lake
Torex
Richmont
Alamos
Northern Star
Guyana
New Gold
Detour
Peer Avg. 1.14x

20. KLGOLD.COM
TSX:KL
FOCUSED EXECUTION & VALUE CREATION
20
KL Gold is focused on maintaining positive and growing free cash flow margins while keeping a
disciplined approach to capital allocation to ensure profitable sustainable gold production
Low cost, Robust Margins Diversified Production
Strong Balance Sheet
District Scale
Exploration Potential
Cash balance of US$234 million at
December 31, 2016
2017 Gold Production of +500,000 oz
Solid Operating Platform in Tier 1 Mining
Jurisdictions
High quality projects with significant
exploration upside
Strong free cash flow generation and
committed leadership team to deliver
targets
NEWS FLOW & CATALYSTS
Q1Q1 – Q4Q1
Full Year Pro
Forma Results
Extensive
Exploration News
Resource &
Reserve Update
Organic Growth
Opportunities
DELIVER SUPERIOR
SHAREHOLDER VALUE

21. APPENDIX
Notes, additional disclosure and other
information
KLGOLD.COM
TSX: KL
February 2017

22. KLGOLD.COM
TSX:KLANALYST COVERAGE (Jan 2017)
22
Firm Anonymous GMP Barclays CIBC Merrill TD RBC ITG Instinet
Shares Traded 9.6 million 4.9 million 4.6 million 4.5 million 2.7 million 2.4 million 2.2 million 1.6 million 1.3 million
50 Day Avg Volume 1,200,000 (as of Feb 15, 2017)
Broker
Initiation
Date
Target
Price
(C$)
Target Rating
FY17E
Production Oz
(000’s)
FY17E
Cash Costs
(US$)
FY17E
AISC
(US$)
CAPEX
(US$
MM)
NAV
(C$M)
CIBC Dec ’16 $10.25 outperform 505 $570 $920
Scotia - $10.00 outperform 509 $625 $895 $1,323
GMP Oct ’15 $14.50 buy 509 $637 $960 $113 -
Macquarie Dec ’16 $14.00 outperform 454 $601 877 $146 $US836
RBC Capital Dec ’16 $11.00 outperform 561 $597 $934 $131 $1,169
PI Financial Jan ’16 $11.90 buy 515 $585 $892
National Bank Dec ’16 $11.35 Outperform 510 $741 1,087
M Partners Dec ’16 $12.50 buy 500 $680 S1,001
BMO - $9.00 market Perform 502 $580 $926
Average $10.87
OPINIONS ESTIMATES OR FORECASTS REGARDING KIRKLAND LAKE GOLD PERFORMACE MADE BY THESE ANALYSTS ARE THIERS ALONE AND DO NOT REPRESENT THE OPINIONS ESTIMATES OR FORECASTS OF
KIRKLAND LAKE GOLD OR ITS MANAGEMENT.

23. KLGOLD.COM
TSX:KLPEER GROUP ANALYSIS
Note: As at Jan 16, 2017, based on Companies’ Q3/16 Reporting OCF and FCF are shown prior to changes in net working capital, debt repayment and dividends
CLEAR VALUATION OPPORTUNITY WITH TIER ONE, LOW COST PRODUCTION
23
2016 YTD Production, Cost, and Free Cash Flow versus Peers
Market Capitalization C$M $1,707 $3,103 $3,698 $3,669 $2,987 $2,173
Enterprise Value C$M $1,561 $3,394 $3,580 $4,100 $2,980 $2,561
Jan 1 - Sep 30, 2016 (Q1 - Q3)
Production koz AuEq 393 394 517 410 286 199
Cash Cost US$/oz $646 $705 $503 $495 $780 $545
AISC US$/oz $953 $960 $741 $765 $1,002 $727
Operating Cash Flow C$M $236 $224 $337 $275 $128 $136
Free Cash Flow C$M $138 $136 $171 ($73) ($12) ($15)
Annualized FCF Yield % 10.7% 5.9% 6.2% (2.7%) (0.8%) (0.9%)
Annualized Multiples
P / 2016 OCF ratio 5.4x 10.4x 8.2x 10.0x 11.7x 12.0x
EV / 2016 Production US$/oz $2,980 $6,456 $5,189 $7,504 $7,806 $9,653

24. KLGOLD.COM
TSX:KLTIER ONE CANADIAN OPERATIONS 2017E
Macassa Gold Mine
MacassaMill 2,000 tpd
District Scale Opportunity +40km2 Land
2017E Production Guidance Macassa Mine (oz) 180,000 – 185,000
Holt | Taylor Gold Mines
Holt Mill 3,000 tpd
District Scale Opportunity(Porcupine Destor Fault 120km Strike along PDFZ
2017E Production Guidance Holt Mine (oz) 65,000 – 70,000
2017E Production Guidance Taylor Mine (oz) 55,000 – 60,000
Consolidated Cost Guidance
Consolidatedoperating cash costs US$625 – US$675 per oz1
ConsolidatedAll-in Sustaining Costs US$950-US$1,000 per oz1
1. Refer to slide 2 forward looking and Non IFRS Disclosure, operating
Costs per ounce and AISC per ounce reflect an average USD to CAD
exchange rate of 1.28 and a USD to AUD exchange rate of 1.28. 24

25. KLGOLD.COM
TSX:KLTIER ONE AUSTRALIAN OPERATIONS 2017E
Fosterville Gold Mine
Fosterville Mill 2,400 tpd
District Scale Opportunity +500km2 Land
2017E Production Fosterville Mine (oz) 140,000 – 145,000
Cosmo Gold Mine
Union Reefs Mill 5,000 tpd
2017E Production Cosmo Mine 60,000 – 65,000
Consolidated Costs
Consolidatedoperating cash costs US$625 – US$675 per oz1
ConsolidatedAll-in Sustaining Costs US$950-US$1,000 per oz1
1. Refer to slide 2 forward looking and Non IFRS Disclosure, operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28.
25

26. KLGOLD.COM
TSX:KLBOARD AND SENIOR MANAGEMENT
26
Board of Directors
Eric Sprott Chairman of the Board
Anthony Makuch President & CEO
Barry Olson Independent
Pamela Klessig Independent
Jeffrey Parr Independent
Raymond Threlkeld Independent
Maryse Belanger Independent
Jonathan Gill Independent
Arnold Klassen Independent
Senior Management Team
Anthony Makuch President & Chief Executive Officer
Darren Hall Chief Operating Officer
Philip Yee Chief Financial Officer
Alasdair Federico EVP Corporate Affairs and CSR

27. KLGOLD.COM
TSX:KL
FY 2016 Production (ozs) Q4/15 Q4/16 FY/2015 FY/2016
MACASSA GOLD MINE 37,979 52,318 102,597 175,167
HOLT MINE COMPLEX 10,677 35,634 127,860
CONSOLIDATED PRODUCTION1 75,134 87,952 210,330 303,027
2016 FY GUIDANCE 270k-290k
Q3/16 Canadian OperatingResults Tonnes Milled Grade (g/t Au) Recovery (%) Production (ozs)
MACASSA MINE COMPLEX1 100,357 13.7 96.9 42,866
HOLT MINE 101,283 4.8 95.1 14,950
HOLLOWAY MINE 53,780 5.1 88.4 7,829
TAYLOR MINE 52,466 7.1 97.1 11,630
CONSOLIDATED PRODUCTION 77,274
Q4/16 Canadian OperatingResults Tonnes Milled Grade (g/t Au) Recovery (%) Production (ozs)
MACASSA MINE COMPLEX1 102,289 16.3 97.6 52,318
HOLT MINE 113,499 4.6 94.5 15,761
HOLLOWAY MINE 65,215 5.4 87.3 9,825
TAYLOR MINE 48,254 6.7 96.1 10,048
CONSOLIDATED PRODUCTION 87,952
CANADIAN OPERATIONS1
- BEAT 2016 GUIDANCE
27
1.Pro forma information operating results from: (i) the former Newmarket Gold Inc. (“Newmarket”) assets for the entire 12-month period ended December 31, 2016 including the period from January 1, 2016 to November 29, 2016 prior to the merger with Kirkland Lake Gold Inc. (“KLG”) on
November 30, 2016 (See Newmarket Press Release dated November 3, 2016); and (ii) the Holt Mine Complex for the entire 12-month period ended December 31, 2016, including the period of January 1, 2016 to January 25, 2016 prior to the acquisition of St Andrew Goldfields Ltd. (“SAS”) by
KLG on January 26, 2016 (See KLG press release dated May 12, 2016). See Press Release dated January 9, 2017 filed on the SEDAR profile of the Company at www.sedar.com.

28. KLGOLD.COM
TSX:KLAUSTRALIAN OPERATIONS1
- BEAT 2016 GUIDANCE
Q4/16 Australian Operating Results Tonnes Milled Grade (g/t Au) Recovery (%) Production (ozs)
FOSTERVILLE GOLD MINE 176,242 8.48 92.4 44,406
COSMO GOLD MINE 157,770 2.78 94.5 13,307
STAWELL GOLD MINE 172,049 1.49 84.5 6,971
CONSOLIDATED PRODUCTION 64,684
FY 2016 Production (ozs) Q4/15 Q4/16 FY/2015 FY/2016
FOSTERVILLE GOLD MINE 36,967 44,406 123,095 151,755
COSMO GOLD MINE 10,677 13,307 63,255 55,765
STAWELL GOLD MINE 8,150 6,971 36,321 32,204
CONSOLIDATED PRODUCTION 55,794 64,684 222,671 239,724
2016 FY GUIDANCE2 225k-235k
Q3/16 Australian Operating Results Tonnes Milled Grade (g/t Au) Recovery (%) Production (ozs)
FOSTERVILLE GOLD MINE 185,071 6.9 89.1 36,967
COSMO GOLD MINE 138,801 2.5 95.3 10,677
STAWELL GOLD MINE 218,702 1.5 80.1 8,150
CONSOLIDATED PRODUCTION 55,794
28
1.Pro forma information operating results from: (i) the former Newmarket Gold Inc. (“Newmarket”) assets for the entire 12-month period ended December 31, 2016 including the period from January 1, 2016 to November 29, 2016 prior to the merger with Kirkland Lake Gold Inc. (“KLG”) on
November 30, 2016 (See Newmarket Press Release dated November 3, 2016); and (ii) the Holt Mine Complex for the entire 12-month period ended December 31, 2016, including the period of January 1, 2016 to January 25, 2016 prior to the acquisition of St Andrew Goldfields Ltd. (“SAS”) by
KLG on January 26, 2016 (See KLG press release dated May 12, 2016).

29. KLGOLD.COM
TSX:KLLOW COST, HIGH MARGIN GOLD PRODUCTION
Financial Results1 (Nine months ended September 30,2016) Pro forma Results
Free Cash Flow (C$)2 $138 million
Revenue (C$) $645 million
Net Income (C$) $91 million
Operating Costs (US$/oz sold)2 US$646/oz
AISC (US$/oz sold)2 US$954/oz
Tracking Below
Guidance
1 2016 gold production and financial results pro forma to include results from Newmarket Gold Australia operations 2. Average realized price per ounces of gold sold, operating costs and all-in sustaining costs per ounce
of gold sold are non-GAAP measures. See slide 2, “Cautionary Language”, for an explanation of the use of these non-GAAP measures.* CAD to USD exchange rate based on average YTD rate of 1.32
* See respective MD&A and Financial Statements for Q3/16 for additional disclosure. 29
Operating and AISC3 (Preliminary 2016 full year) Consolidated
Operating Costs (US$/oz sold)3 US$575/oz
AISC (US$/oz sold)3 US$920/oz
Beat guidance
Operating and AISC3 (Preliminary Q4 2016) Consolidated
Operating Costs (US$/oz sold)3 US$535/oz
AISC (US$/oz sold)3 US$875/oz

30. KLGOLD.COM
TSX:KLPRO FORMA KIRKLAND LAKE CANADIAN OPERATIONS YTD 2016
Consolidated 2016 Results Table
Q3/162 YTD 20163
Gold Sales (Ounces) 76,339 217,792
Average Realized Price (US$/oz)1
US$1,321 US$1,249
Based on Revenues of (C$ millions) $131.5 $359.5
Operating Costs (US$/oz sold)1
US$540 US$591
Based on Operating Costs (C$ millions) $53.7 $174.4
AISC (US$/oz sold)1
US$970 US$940
1 Average realized price per ounces of gold sold, operating costs and all-in sustaining costs per ounce of gold sold are non-GAAP measures. See slide 2, “Cautionary Language”, for an
explanation of the use of these non-GAAP measures. FX USD/CAD Average for Q3/2016 was 1:1.3050 3. First nine months ending September 30, 2016. See Press Release dated February
27, 2017 filed on the SEDAR profile of the Company.
YTD 2016 Financial Information
Free Cash Flow* C$87.5 million
Net Income US$51.0 million
30

31. KLGOLD.COM
TSX:KLPRO FORMA KIRKLAND LAKE AUSTRALIAN OPERATIONS YTD 2016
Consolidated 2016 Results Table
Q3/162 YTD 20163
Gold Sales (Ounces) 54,053 175,041
Average Realized Price (US$/oz)1
US$1,329 US$1,240
Based on Revenues of (US$ millions) $71.9 $216.0
Operating Costs (US$/oz sold)1
US$777 US$714
Based on Operating Costs (US$ millions) $49.8 $148.3
AISC (US$/oz sold)1
US$1,076 US$971
YTD 2016 Financial Information
Free Cash Flow* US$38.2 million
Net Income US$30.2 million
1 Average realized price per ounces of gold sold, operating costs and all-in sustaining costs per ounce of gold sold are non-GAAP measures. See slide 2, “Cautionary Language”, for an
explanation of the use of these non-GAAP measures. 3. First nine months ending September 30, 2016
31

32. KLGOLD.COM
TSX:KLDIVERSE ASSET PORTFOLIO
Strong Pipeline of Growth Projects
Significant Exploration Potential
• Macassa: Cornerstone, high-grade operation (average reserve grade of 19.2 g/t)
• Fosterville: Flagship operation continuing to demonstrate record production and record grades
• Taylor: Exciting newly-built mine with exploration upside to drive future growth
• Holt-Holloway: Sustainable and profitable production
• Cosmo: New near mine discoveries support improved operations
• Stawell: 30 years of continuous production with near mine exploration discovery
• Holt Mine Complex (Zone 7): Planned production in 2018 will provide >25kozs per year to the Holt Mine
production profile
• Hislop Mine: Potential development asset (shallow open pit opportunity proximal to mill)
• Maud Creek: PEA-stage project planned to produce an average of ~50koz Au/year leveraging excess capacity at
the 100% owned Union Reefs mill
• Big Hill: Low-cost, shallow oxide open pit opportunity within existing Stawell mining lease
• Kirkland Lake Camp: Drilling to test the extension of the SMC and the historic ‘04/Main break at depth
• Porcupine-Destor Fault Zone: Focus to increase mine-life, as well as drill testing a 120km strike length of
prospective ground for new discoveries
• Victoria: New high-grade discovery at Fosterville, active drilling on Aurora B discovery at Stawell
• Northern Territory: New discoveries at Cosmo including Redbelly & Taipan Lode, with continued
exploration success at Sliver Lode
Refer to Reserve and Resource Statementsin Appendix of this presentation. Refer to Slide 31 “NI 43-101 Disclosure”.
32

33. KLGOLD.COM
TSX:KLMACASSA MINE COMPLEX OVERVIEW
0
50000
100000
150000
200000
CY2015 YTD2016
Gold Production (oz)
Prior to 2016 the Company’s year end was May 1 to April 30
F2014A F2015A YTD2016A
Cash Costs
(US$/oz)
$812 $625 $568
AISC (US$/oz) $1,141 $803 $935
• 1,000tpd underground operation
• 70% of ore tonnes derived from the higher grade South
Mine Complex, and 30% from the ‘04 Break mineralization
• Mining to depths of 5400 feet below surface
• 2,000tpd processing capacity (50% unused)
• Conventional CIP milling facility with 4 available mills
grinding to 40 to 45 micron
• Recoveries averaging over 95%
• Opportunities being reviewed to increase production and
reduce costs
Resources are exclusive of Reserves. Refer to Reserve and Resource Statements Slide 31 “NI 43-101 Disclosure”. Refer to Slide 2 “Use of Non-GAAP Measures”.
1 Adjusted to reflect calendar-year production and grade. 2. as at September 30, 2016
1
Reserves & Resources (Dec. 31, 2014)
Mid-point of
F2016 Guidance
#3 Shaft #2 Shaft
155,226 122,849
2
Macassa Mine Complex
Mineral Reserves (P&P) 1.463 Moz @ 19.2g/t Au (2.4 M tonnes)
Mineral Resources
(M&I)
2.047 Moz @ 16.8g/t Au (3.8 M tonnes)
Mineral Resources
(Inferred)
1.177 Moz @ 19.2g/t Au (1.9 M tonnes)
33

34. KLGOLD.COM
TSX:KLSOUTH MINE COMPLEX
Refer to 2015,2015 MD&A detailed mined grade disclosure to actual mined grades
34
5000 – 5100 level average mined grade
(13g/t gold – 15g/t gold)
5200 – 5300 level average mined grade
(14g/t gold – 16g/t gold)
5300 – 5400 level average mined grade
(14g/t gold – 21g/t gold)
Grade trend continues
to increase with depth
Proposed development
SMC zone remain open down
plunge and along strike, drilling underway

35. KLGOLD.COM
TSX:KLMACASSA CROSS SECTION LOOKING EAST
SELECTED HIGHLIGHTS
AB-15-12 11.7 gpt/ 0.3 metres
0.34 opt/ 1.0 feet
AB-15-23
3,241.4 gpt/ 0.7 metres
94.54 opt/ 2.3 feet
11.7 gpt/ 0.3 metres
0.34 opt/ 1.0 feet
AB-15-53
12.3 gpt/ 0.5 metres
0.36 opt/ 1.7 feet
AB-15-91
646.3 gpt/ 0.9 metres
18.85 opt/ 2.8 feet
including
1,783.2 gpt/ 0.3 metres
52.01 opt/ 1.0 feet
And
89.5 gpt/ 0.3 metres
2.61 opt/ 1.0 feet
See press release dated November 3, 2015, as filed on SEDAR
35

36. KLGOLD.COM
TSX:KLSOUTH MINE COMPLEX (SMC) UNDERGROUND DRILLING
Plan View showing 5300’ Level infrastructure testing the easterly strike extension of the
SMC
36

37. KLGOLD.COM
TSX:KLSMC DRILLING ON THE HM CLAIM
37

38. KLGOLD.COM
TSX:KL’04 MAIN BREAK UNDERGROUND DRILLING
3000’Level
Long Section View Looking North
38

39. KLGOLD.COM
TSX:KLHolt-Holloway Exploration Targets
Holt Property
Holloway Property
Holloway West
(Harker)
Lightval
39

40. KLGOLD.COM
TSX:KLHOLT MINE COMPLEX
40
90,676
107,733
127,860
2014A 2015A 2016A
Gold Production (oz)
Mine OverviewStats
2014A 2015A 2016A
Gold Production
(oz)
90,676 107,733 127,860
Gold Grade (g/t) 4.3 5.3 -
Cash Costs
(US$/oz)
$851 $698
AISC (US$/oz) $1,072 $942
• Three producing mines (Holt, Holloway and Taylor)
contribute ~2,200tpd
• Holt contributes ~1,200tpd
• Holloway contributes ~450tpd
• Taylor contributes ~ 550tpd
• 3,000tpd processing capacity (30% unused)
• Conventional CIL milling facility
• 3 mill grinding circuit
• P&P reserves of 0.8 Moz at 5.1 g/t, M&I of 1.4 Moz
at 4.1 g/t and Inferred Resources of 1.8 Moz at 4.6
g/t
• 2016 exploration is focused on increasing the level
of resources and reserves to boost mine life
• In Q4 will commence drill testing targets with
potential to add to the production profile in years
to come
1. Refer to appendix for NI 43-101 Disclosure

41. KLGOLD.COM
TSX:KLHOLT EXPLORATION TARGETS
Tousignant Deposit
Zone 6
Zone 4
Mattawasaga Pits
Zone 7
Surface
1075m Level
925m Level
435m Level
Current drift
development
Long section view looking north
Zone 4 West Extension
500 m1 km 02 km3 km 1 km 1.5 km
TOUSIGNANT TARGET
ZONE 7 TARGET
ZONE 4 TARGET
P&P Reserves1 M&I Resources Inferred Resources
Holt Mine (All Zones)
591 koz
3.9Mt @ 4.8 g/t Au
957 koz
7.6Mt @ 3.9 g/t Au
1.2 Moz
7.9Mt @ 4.7 g/t Au
Zone 4
(includes Zone 4 East)
201 koz
1.5Mt @ 4.3 g/t Au
544 koz
4.4Mt @ 4.0 g/t Au
23 koz
0.2Mt @ 4.0 g/t Au
Zone 4 West Extension - -
861 koz
5,552,000 @4.82g/t Au
Zone 6
147 koz
0.8Mt @ 6.0 g/t Au
48 koz
0.2Mt @ 7.6 g/t Au
28 koz
0.1Mt @ 7.9 g/t Au
Zone 7
152 koz
1.0Mt @ 4.5 g/t Au
159 koz
1.4Mt @ 3.4 g/t Au
92 koz
0.8Mt @ 3.7 g.t Au
411. Refer to appendix for NI 43-101 Disclosure

42. KLGOLD.COM
TSX:KLHOLLOWAY EXPLORATION
Surface
Shaft Bottom
(867m)
Long section view looking north
LIGHTNING DEEP TARGET
(down plunge)
LIGHTNING DEEP (up-dip)
DEEP THUNDER
LIGHTVAL
TARGET
CANAMAXBLACKTOP EAST
HOLLOWAY NORTH
TARGET
Targeting a numberof targets along strike on the Holloway property
• Lightval (surface target)
• Holloway North (~500m below surface)
• Lightning Deep (down plunge to the east, and up dip to the north)
• Blacktop (east and west along strike…and to depth towards Smoke)
P&P Reserves1 M&I Resources Inferred Resources
Holloway Mine
(All Zones)
40 koz
0.2Mt @ 5.4 g/t Au
117 koz
0.8Mt @ 4.6 g/t Au
389 koz
0.2Mt @ 4.9 g/t Au
Lightning Deep Zone
24 koz
0.1Mt @ 5.3 g/t Au
N/A N/A
Blacktop Zone
16 koz
89kt @ 5.5 g/t Au
N/A N/A
Middle Zone -
24 koz
0.2Mt @ 4.2 g/t Au
N/A
Deep Thunder/ Canamax - -
350 koz
2.2Mt @ 4.9 g/t Au
421. Refer to appendix for NI 43-101 Disclosure

43. KLGOLD.COM
TSX:KLCOSMO GOLD MINE OVERVIEW
43
77,740
63,255
55,765
2014A 2015A 2016A
Gold Production (oz)
Mine OverviewStats
2014A 2015A Q4 2016 2016A
Gold
Production
(oz)
77,740 63,255 13,307 55,765
Gold Grade
(g/t)
3.14 2.99 2.78 2.87
Recovery (%) 88.9 90.7 94.5
93.6
Cash Costs
(US$/oz)
$1,000 $917
AISC (US$/oz) $1,263 $1,154
• Located in the Northern Territories which also hosts
additional camps including Union Reefs, Maud
Creek, and Howley
• ~800ktpa underground operation with decline
access employing primarily Avoca mining method
• Mill located at Union Reefs, 67km away from
Cosmo, has 2.0Mtpa processing capacity (60%
unused) and conventional circuit – 3 stage crush, 2
stage ball, gravity and CIL, with regional toll milling
opportunities
• P&P reserves of 101koz at 3.38g/t Au, M&I of
480koz at 3.22 g/t and Inferred Resources of 60koz
at 2.76 g/t
• 2016 drill campaign has 4 drills active on Cosmo
Deeps resulting in 2 new discoveries:
• Redbelly intercepts include 4.29 g/t over 11.8m (ETW
10.0m) and 5.18 g/t Au over 8.75m (ETW 8.75m)
• Taipan Lode intercepts include 6.23 g/t over 21.45m
(ETW 9.0m) and 11.34 g/t over 10.15m (ETW 4.3m)
• Continued drilling success at Sliver with intercepts of
8.76 g/t Au over 8.76 m (ETW 6.8 m) and 3.61 g/t Au
over 14.4 m (ETW 12.4 m)
• Completed Western Drill Drive in Apr 2016 to provide
platforms for continued exploration

44. KLGOLD.COM
TSX:KLCOSMO GOLD MINE LONG SECTION
44
Note: For further information on drill results see NewmarketGold’s press release dated August 22, 2016 located at www.newmarketgoldinc.com
NewDiscoveryRedbellyGoldZone
NewDiscoveryTaipan Gold Zone
SliverGoldZone
Highlight intercepts:
8.76 g/t Au over 7.55m
3.61 g/t Au over 14.4m
Highlight intercepts: 4.29 g/t Au over 11.8m
5.18 g/t Au over 8.75m
Highlight intercepts:
6.23 g/t Au over 21.45m including,
11.34 g/t Au over 10.15m
Fourdiamonddrill
rigsoperating duringQ3 2016

45. KLGOLD.COM
TSX:KLMAUD CREEK PROJECT OVERVIEW
45
Base Case Highlights Utilizing Union Reefs Mill
Based on May2016 Amended PEAusing US$1,200/oz (AUD$1,550)
goldpriceand AUD:USD0.77
Pre-Tax NPV5% US$155 million
IRR (Pre-tax) 116%
After-Tax NPV5% US$105 million
Internal Rate of Return (After-tax) 80%
Pay Back 1.25 years
Pre-Production Capital Cost US$32 million
Mine Life 9.5 years
Diluted Gold Grade 4.2 g/t gold
Gold Recovery (Oxide/Transitional) 85%
Gold Recovery (sulphide) 95%
LOM Recovered Gold 496,000 ounces
Average Annual Production 52,000 ounces
LOM Cash Operating Cost US$632
• Cosmo Gold Mine currently processes ~800,000 tpa though
the Union Reefs Mill (2016 guidance ~60koz)
• Union Reefs Mill has 1.2Mt of excess capacity to treat
additional ore and is located 67km from Cosmo and 144km
from Maud Creek
The PEA is preliminary in nature and is based on a number of assumptions that may be changed in the future as additional information becomes available. The PEA includes inferred mineral resources that are
considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.
The Maud Creek Gold Project PEA Technical Report is available on Sedar and www.newmarketgoldinc.com and was compiled by Peter Fairfield, Principal Consultant (Project Evaluation), BEng (Mining), FAusIMM
CP (Mining) of SRK Consulting (Australasia) Pty Ltd. By virtue of his education, membership to a recognized professional association and relevant work experience, Peter Fairfield is an independent "Qualified
Person" as such term is defined in NI 43-101. Mineral resources that are not mineral reserves do not have demonstrated economic viability. For full details please see press release dated May 16, 2016.
Refer to Slide 2 “Forward Looking Information”.

46. KLGOLD.COM
TSX:KLSTAWELL GOLD MINE
46
39,230
36,321
32,204
2014A 2015A YTD2016A
Gold Production (oz)
Mine OverviewStats
2014A 2015A YTD2016A Q4 2016 FY 2016
Gold
Production
(oz)
39,230 36,321 25,233 6,971 32,204
Gold Grade
(g/t)
1.67 1.56 1.46 1.49 1.47
Recovery
(%)
78.8 80.8 79.9 84.5 80.9
Cash Costs
(US$/oz)
$1,151 $917 $1,222
AISC
(US$/oz)
$1,193 $1,063 $1,345
• Q4 2016 Stawell Gold Mines put on Care and Maintenance
• Underground operation with decline access employing open
stoping with either CRF or combinations of CRF and rock fill
or all rock fill with pillars
• Current mining fronts comprised of Magdala and surface
oxides stockpiles
• 1.0 Mtpa processing capacity (20% unused); conventional
crush-grind followed by sulphide flotation and CIL
• Open Pit, Big Hill P&P Reserves of 138 koz at 1.36 g/t Au,
M&I of 166 koz at 1.52 g/t and Inferred Resources of 2 koz at
1.15 g/t
• 2016 Drill Campaign has 2 drills active on the East Flank
(mining traditionally focused on West Flank with 2.3 Moz of
past production):
• Aurora B discovery on East Flank with maiden resource of
30,400oz at 3.5 g/t
• Intercepts include 13.7 g/t over 5.4m
• Big Hill Gold Project is a low cost, shallow oxide open pit
opportunity adjacent to Stawell
• Currently awaiting permitting process

47. KLGOLD.COM
TSX:KLSTAWELL GOLD MINE AURORA B GOLD ZONE
47
Maiden Inferred Mineral Resource of
30,400ouncesgrading3.5g/t gold.
The grade of the Aurora B Inferred
Mineral Resource is 42% greater than
the underground Mineral Reserve
grade
East Flank
Target
Aurora A
Traditionally mined
West Flank total
production to date
2.3 million ounces
Magdala
13.7 g/t goldover5.4 m
Aurora B located approximately
500m above Aurora A
Two diamond drill rigs
active on the east flank

48. KLGOLD.COM
TSX:KLCANADIAN OPERATIONS MINERAL RESERVES
PROVEN PROBABLE PROVEN & PROBABLE
RESERVE AREA (Project/Mine) Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces
000's g/t 000's 000's g/t 000's 000's g/t 000's
04 & Main Break 494 14.7 236 529 16.5 278 1,023 15.8 514
South Mine Complex (SMC) 314 17.5 177 1,016 23.7 773 1,330 22.3 949
MACASSA MINE COMPLEX 808 15.8 412 1,545 21.3 1,051 2,354 19.2 1,463
Property Wide Targets - - - - - - - - -
Kirkland Lake Properties 808 15.8 412 1,545 21.3 1,051 2,354 19.2 1,463
Holt Mine 1,452 4.3 199 2,414 5.1 392 3,866 4.8 591
Holloway Mine - - - 233 5.4 40 233 5.4 40
Taylor Mine - - - 774 6.3 156 774 6.3 156
HOLT MINE COMPLEX 1,452 4.3 199 3,421 5.4 588 4,873 5.0 787
Hislop Mine - - - 280 5.2 46 280 5.2 46
PDFZ Properties 1,452 4.3 199 3,701 5.4 634 5,153 5.0 833
TOTAL RESERVES (Company Wide) 2,260 8.4 611 5,246 10.0 1,685 7,507 9.6 2,296
“NI 43-101 Disclosure”.
Resources are exclusive of Reserves
As at December 31, 2014
48

49. KLGOLD.COM
TSX:KLCANADIAN OPERATIONS MINERAL RESOURCES
MEASURED INDICATED MEASURED & INDICATED INFERRED
RESOURCE AREA (Project) Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces
000's g/t 000's 000's g/t 000's 000's g/t 000's 000's g/t 000's
04 & Main Break 964 13.7 430 1,042 14.4 483 2,006 14.1 913 440 14.1 201
South Mine Complex (SMC) 30 12.7 12 1,249 23.0 917 1,279 22.6 929 1,232 22.3 876
MACASSA MINE COMPLEX 994 13.7 442 2,290 18.9 1,400 3,285 17.4 1,842 1,671 20.2 1,077
Property Wide Targets 9 17.1 5 518 12.0 200 527 12.0 203 246 12.7 100
Kirkland Lake Properties 1,003 13.7 447 2,809 17.8 1,599 3,812 16.8 2,047 1,917 19.2 1,177
Holt 3,702 4.0 473 3,861 3.9 485 7,563 3.9 957 7,866 4.7 1,181
Holloway 310 4.7 47 482 4.5 70 792 4.6 117 2,479 4.9 389
Taylor - - - 2,000 4.54 302 2,000 4.54 302 1,951 4.1 257
HOLT MINE COMPLEX 4,012 4.1 520 6,666 4.3 911 10,678 4.1 1,430 12,296 4.6 1,827
Hislop - - - 983 4.0 127 983 4.0 127 690 4.2 92
Aquarius - - - 22,300 1.3 926 22,300 1.3 926 9 0.8 N/A
Ludgate - - - 522 4.1 68 522 4.1 68 1,396 3.6 162
Canamax - - - 240 5.1 39 240 5.1 39 170 4.3 23
PDFZ Properties 4,012 4.1 520 30,711 2.1 2,071 34,723 2.3 2,590 14,561 4.5 2,104
TOTAL RESOURCES (Company Wide) 5,015 6.0 967 33,520 3.4 3,670 38,535 3.7 4,637 16,478 6.2 3,281
Resources are exclusive of Reserves
As at December 31, 2014
“NI 43-101 Disclosure”. 49
The total of the Estimated Measured and Indicated Resources of Macassa Mine at January 1, 2015 is 4.2 million tons at a grade of 0.49 oz Au/ton (3.8 million tonnes @ 16.8 g
Au/t). In addition,there is an estimated 2.1 million tons at a grade of 0.56 oz Au/ton (1.9 million tonnes @ 19.2 g Au/t) that is classifiedas an Inferred Resource.
Total Resource ounces are 2Moz for M+I and another 1.18Moz in Inferred.

50. KLGOLD.COM
TSX:KLAUSTRALIA OPERATIONS MINERAL RESERVES
PROVEN PROBABLE PROVEN & PROBABLE
RESERVE AREA (Project/Mine) Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces
000's g/t 000's 000's g/t 000's 000's g/t 000's
Fosterville UG 232 5.39 40 859 7.36 203 1,091 6.95 244
Fosterville Tailings 571 7.83 144 - - - 571 7.83 144
Stawell UG 51 2.49 4 305 2.47 24 356 2.47 28
Stawell OP - - - 3,123 1.36 138 3,123 1.36 138
Cosmo 487 3.47 54 445 3.28 47 932 3.38 101
Burnside - - - - - - - - -
Union Reefs (OP+UG) - - - 520 3.1 52 520 3.1 52
Pine Creek - - - 1,245 1.55 62 1,245 1.55 62
Maud Creek - - - - - - - - -
TOTAL RESERVES
(Company Wide)
1,341 5.61 242 6,497 2.52 526 7,838 3.05 769
Resourcesare inclusive of Reserves
As at December 31, 2015
“NI 43-101 Disclosure”.
50

51. KLGOLD.COM
TSX:KLAUSTRALIA OPERATIONS MINERAL RESOURCES
MEASURED INDICATED MEASURED & INDICATED INFERRED
RESOURCE AREA (Project) Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces
000's g/t 000's 000's g/t 000's 000's g/t 000's 000's g/t 000's
Fosterville UG 2,086 3.25 218 12,950 4.57 1,904 15,036 4.39 2,122 5,073 4.08 665
Fosterville Tailings 571 7.83 144 - - - 571 7.83 144 - - -
Stawell UG 56 2.56 5 669 3.49 75 725 3.43 80 1,118 3.24 116
Stawell OP - - - 3,394 1.52 166 3,394 1.52 166 46 1.15 2
Cosmo 1,650 3.63 193 2,987 2.99 288 4,637 3.23 480 678 2.76 60
Burnside - - - 7,358 1.36 322 7,358 1.36 322 6,820 1.46 321
Union Reefs (OP+UG) - - - 3,579 2.38 273 3,579 2.38 273 3,342 2.3 247
Pine Creek - - - 8,393 1.41 379 8,393 1.41 379 2,540 2.34 191
Maud Creek 1,067 5.59 192 5,426 3.04 532 6,493 3.47 724 1,980 2.32 149
TOTAL RESOURCES
(Company Wide)
5,430 4.29 752 44,756 2.74 3,939 50,186 2.91 4,691 21,597 2.52 1,751
Resources are inclusive of Reserves
As at December 31, 2015
“NI 43-101 Disclosure”.
51

52. KLGOLD.COM
TSX:KLNI 43-101 DISCLOSURE
Kirkland Lake Gold Qualified Person and QA/QC
All productioninformationand other scientificand technicalinformationin this presentationwith respect to Kirkland Lake Gold and its assets were preparedin accordancewith the
standardsof the CanadianInstituteof Mining,Metallurgyand Petroleumand NationalInstrument43-101 – Standardsof Disclosurefor Mineral Projects(“NI 43-101”)and were prepared,
reviewed,verified and compiledby Kirkland Lake Gold’s mining staffunder the supervisionof, Pierre RocqueP. Eng.,Kirkland Lake Gold’s Vice President,TechnicalServices.
The explorationprogramsacross KirklandLake Gold’s land holdingsin KirklandLake were prepared,reviewed,verified and compiledby Kirkland Lake Gold’s geologicalstaff under the
supervisionof Doug Cater, P.Geo.,the Company’sVice Presidentof Exploration,CanadianOperations.All reserve and resource estimatesfor the KirklandLake Propertiesas at December 31,
2014 have been auditedand verified,and the technicaldisclosurehas been approved,by KirklandLake Gold’s independentreserve and resourceengineer,Glenn R. Clark, P. Eng.,of Glenn R.
Clark & AssociatesLimited.Mr. Clark is a ‘qualifiedperson’under NI 43-101. The QP’s for the mineral reserves and resourcesoutlinedunder the PDFZ Propertiesare Doug Cater, P. Geo,
and,PierreRocqueP. Eng.,the Vice Presidentof Explorationand the Vice Presidentof mine engineeringrespectively,and not considered independentunder NI 43-101.
Sample preparation,analytical techniques,laboratoriesused and qualityassurance-qualitycontrolprotocolsused during the explorationdrilling programsare done consistentwith industry
standardsand independentcertifiedassay labs.
REFER TO KIRKLAND LAKE GOLD ANNUAL INFORMATION FORM DATED MARCH 10, 2016, AND ST ANDREW GOLDFIELDS LTD. ANNUAL INFORMATION FORM DATED
MARCH 27, 2015, AVAILABLE ON SEDAR (www.sedar.com) FOR COMPLETE NI 43-101 NOTES AND DISCLOSURE PERTAINING TO THE RESOURCE AND RESERVE
STATEMENTS QUOTED HEREIN.
Newmarket Qualified Person and QA/QC
All productioninformationand other scientificand technicalinformationin this presentationwith respect to Newmarketand its assetswere preparedin accordancewith the standardsof
the CanadianInstituteof Mining, Metallurgyand Petroleumand NI 43-101 and were prepared,reviewed,verified and compiledby Newmarket’smining staffunder the supervisionof Mark
Edwards,MAusIMM (CP), MAIG and Newmarket’sGeneral Manager,Exploration,who is the qualifiedpersonfor the purposeof NI 43-101.
Simon Hitchman,FAusIMM (CP), MAIG, ExplorationManager,NewmarketGold,is a "qualifiedperson" as such term is definedin NationalInstrument43-101 and has reviewed and
approvedthe technicalinformationand data includedin this InvestorPresentation.
Troy Fuller, MAIG, GeologyManager,Fosterville Gold Mine, NewmarketGold,is a "qualifiedperson" as such term is definedin NationalInstrument43-101 and has reviewedand approved
the technicalinformationand data includedin this presentation.
Sample preparation,analytical techniques,laboratoriesused and qualityassurance-qualitycontrolprotocolsused during the explorationdrilling programsare done consistentwith industry
standardsand independentcertifiedassay labs.
REFER TO NEWMARKET’S ANNUAL INFORMATION FORM DATED MARCH 21, 2016, AVAILABLE ON SEDAR (www.sedar.com) FOR COMPLETE NI 43-101 NOTES AND
DISCLOSUREPERTAINING TO THE RESOURCE AND RESERVE STATEMENTS QUOTED HEREIN.
52

53. KLGOLD.COM
TSX: KL
TONY MAKUCH
President & Chief Executive OfficerFebruary 2017
200 Bay Street, Suite 3120
RBC Plaza - South Tower
Toronto ON M5J 2J1
Main Telephone: 416-840-7884
Ryan King, Vice President Investor Relations
E:rking@klgold.com
D:778 372 5611
53