F2015 Fourth Quarter Results (July 22, 2015)

1. A PROFITABLE FUTURE
F2015_Q4 & YE Update July 23, 2015
A RICH HISTORY
TSX/AIM:KGI

2. Forward Looking Statements
Cautionary Note Regarding Forward Looking Statements.
This presentation 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”, “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 this Presentation include, but
may not be limited to; statements regarding the Company’s production guidance for Stub Year 2015, 2016,
2017 and 2018; the ability to bring more higher grade stopes online from the 5400 level and access to the
5600 level and the timing thereof; the exploration programs and the results and timing thereof. 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 April 30, 2015. and
the Company’s Management's Discussion and Analysis for the interim period ended April 30, 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.
www.klgold.com 2TSX:KGI

3. Investment Highlights
Located in Ontario, one of the safest and lowest risk mining jurisdictions globally
Attractive NI43-101 high grade reserve and resource profile with a long mine life
Growing annual production, declining cost base and improving unit costs
Company returning to profitability and free cash flow
Significant exploration potential with organic growth
Potential upside with a higher gold price and a weaker Canadian dollar
www.klgold.com 3
Experienced and Diverse Board of Directors and Management Team
TSX:KGI

4. Experienced Team
Eric Sprott, Chairman of the Board (Non-executive Director)
Barry Cooper, B.Sc., MBA (Non-executive Director)
Pamela Klessig, P.Geo (Non-executive Director)
Barry Olson, M.Sc. (Non-executive Director)
Jeffrey Parr, CA, BA, MBA (Non-executive Director)
Dawn Whittaker, LLB (Non-executive Director)
www.klgold.com 4
George Ogilvie, P.Eng. (Director, President & CEO)
John Thomson, CA (Director, Executive VP & CFO)
Chris Stewart, P.Eng. – VP Operations
Jennifer Wagner, LL.B. – Corporate Legal Counsel
Suzette N Ramcharan, CPIR – Director, Investor Relations
Board of Directors
Senior Management
TSX:KGI

5. Financial Position
CASH C$80.3 million1
DEBT C$115 million
convertible debentures
KGI.DB: 6% coupon/ $15.00 strike
C$54.5MM mature Jun/2017
KGI.DB.A: 7.5% coupon/ $13.70 strike
C$60.5MM* mature Dec/2017
*In F2015, KGI purchased C$5MM of the 7.5% 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$6.88
LOW C$2.79
www.klgold.com 5
1As at June 30, 2015; 2 As at July 20, 2015
3 See press release dated April 1, 2015, for details on the NCIB
CAPITAL STRUCTURE 1
ISSUED SHARES 80,376,617
Stock Options 4,055,300
Convertible Debentures 8,536,495 3
FULLY DILUTED 92,968,412
MARKET CAP ~370 Million 2
Major Shareholders (~50%) 1
Resolute Funds (~10%)
Eric Sprott (~10%)
Columbia Wanger Asset Management LLC (~8%)
Equinox Partners (~7%)
Van Eck Associates Corporation (~5%)
Harry Dobson (~4%)
ABC Funds (~4%)
TSX:KGI

6. KGI Share Price Performance
KGI Share Price Vs Gold Price
(C$) and GDXJ Over a 12 month
Period
(July 2014 – July 2015)
• KGI share price has
outperformed the POG by 18%
• GDXJ dropped 47% over the
past year
KGI Share Price Vs Select
Group of Peers
Over a 12 month Period
(July 2014 – July 2015)
• KGI share price has
increased by 18% relative
to its peers
www.klgold.com 6
Source: Bloomberg as at June 30, 2015
TSX:KGI

7. Kirkland Lake Camp
www.klgold.com 7
KGI owns five former
producing high grade mines
Historical production of
~22 Moz’s of gold
Average head grade of
0.44 opt or 15.1 g/t
The Kirkland Lake gold camp
has been producing gold for
over 100 years.
Almost 25 Moz’s has been
produced to date, from
seven mines.
One of the highest grade
gold camps in the world.
TSX:KGI

8. 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 MRMR
g/t Au Date
Macassa Mine Complex Kirkland Lake Gold Canada (Ontario) (0.56 opt) 19.2 1.5 Moz Dec/2014
Turquoise Ridge Barrick USA (Nevada) 16.9 4.5 Moz Dec/2014
Gosowong Newcrest Indonesia 12.0 1.2 Moz Dec/2014
Moab Khotsong AngloGold Ashanti South Africa 10.0 6.1 Moz Dec/2014
Mponeng AngloGold Ashanti South Africa 10.0 14.6 Moz Dec/2014
Red Lake Gold Goldcorp Canada 10.0 2.1 Moz Dec/2014
Kupol/Dvoinoye Kinross Russia 8.5 2.1 Moz Dec/2014
TauTona AngloGold Ashanti South Africa 8.0 1.4 Moz Dec/2014
19.2 16.9
12.0
10.0
9.9 9.6 8.5 8.0
0.0
5.0
10.0
15.0
20.0
25.0
Macassa Mine
Complex
Turquoise
Ridge
Gosowong Red Lake Gold Moab Khotsong Mponeng Kupol/Dvoinoye Tau Tona
Gradeg/t
Reserve Grades
www.klgold.com 8
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)
TSX:KGI

9. Reserves & Resources
(Resources are Exclusive of Reserves)
See Appendix for more disclosure on MRMR statement which is as of December 31 ,2014.
Based on current level of Reserves and 70% conversion of Resources
(@ 200,000 oz p.a), KGI has a 14 year Mine Life
www.klgold.com 9
Property Wide
Mineral Reserves
(P&P)
Includes the ‘04 & Main Break
and SMC
1.5 Moz’s
2.6M tons @ 0.56 opt
(19.2 g/t )
Mineral Resources
(M&I)
Includes the ‘04 & Main Break,
SMC, Near Surface and other
2.0 Moz’s
4.2 M tons @ 0.49 opt
(16.8 g/t )
Mineral Resources
(Inferred)
Includes the ‘04 & Main Break,
SMC, Near Surface and other
1.2 Moz’s
2.1 M tons @ 0.56 opt
(19.2 g/t)
SMC
0.9 Moz’s
1.5 M tons @ 0.65 opt
(22.3 g/t )
0.9 Moz’s
1.4 M tons @ 0.66 opt
(22.6 g/t )
0.9 Moz’s
1.4 M tons @ 0.65 opt
(22.3 g/t )
Breakout
of SMC
only
TSX:KGI

10. South Mine Complex
• Access from 5400L and 5600L allows delineation drilling of
resources, especially below 5600L
• Remains Open at Depth and Across Strike
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 245,000 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
Original Two
Mining Horizons
Third Level
Started May 2014
Developing to
Gain Access
for F2016
OPEN
#3SHAFT
#2WINZE
www.klgold.com 10
Development Legend
Completed
F2016 Development
F2017 Development
OPEN
OPEN
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
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*Drawing not to scale
TSX:KGI

11. Reserve Grade Vs Head Grade
0.46 OPT
15.8 GPT
0.65 OPT
22.3 GPT
0.56 OPT
19.2 GPT
0.35 OPT
12.0 GPT
0.46 OPT
15.8 GPT
0.44 OPT
15.1 GPT
Takes into account all proven and probable material from the ‘04 & Main Break, plus all proven and
probable material from all levels of the South Mine Complex.
December 31, 2014 Reserve Calculation
Assumes ~30% of Ore Tons from ‘04 & Main Break, and ~70% of Ore Tons from the 5025, 5300
and 5400 Levels in the South Mine Complex.
F2015 Mine Plan
www.klgold.com 11TSX:KGI

12. F2015 Production Update
Q1
F2015
38,543
93,880
0.45
Q2
F2015
38,335
92,146
0.41
Q3
F2015
39,722
91,148
0.44
Q4
F2015
39,109
92,532
0.42
YTD
F2015
155,709
369,706
0.43
Ounces
Sold
Tons
Milled
Head Grade
(opt)
• Fourth stope brought into production on 5400 level during Q4
• 2 Electric Hydraulic Jumbo’s fully operational
• Main ramp towards the 5600 level progressing well and is on schedule
www.klgold.com 12
* Production guidance revised upwards from 140,000 – 155,000 ounces to 153,000 – 157,000 ounces on March 11, 2015
TSX:KGI

13. Monthly Production Profile
• Cut-off Grades Raised from 0.18 opt to 0.22 opt.
• Stopped Mining “Incremental Tons”
• Implemented Strict Ore/ Waste Segregation UG
• Increasing UG Delineation Drilling in SMC
• Employing more UG Geologists
• Assay Lab is Manned 24/7
• Restructuring Organization
• Implementing Leadership Training
• Looking to Upgrade MIS
www.klgold.com 13
0.34
0.31
0.30
0.26
0.29
0.45
0.39
0.34
0.37
0.34
0.47
0.51
0.39
0.43
0.41
0.47
0.44
0.42
0.52
0.40
0.35
-
0.10
0.20
0.30
0.40
0.50
0
5,000
10,000
15,000
20,000
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr
Oz Recovered
Head Grade
F2015
F2015 YTD Average 0.43 opt
HeadGrade(OuncesPerTon)
GoldProduction(Ounces)
TSX:KGI

14. 0.37
0.40
0.37
0.32
0.41
0.37
0.31
0.33
0.43
0.00
0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
0.45
0.50
-
50,000
100,000
150,000
200,000
250,000
07 08 09 10 11 12 13 14 15 SY15 16 17 18
GoldOunces
Oz Recovered Guidance Head Grade Linear (Oz Recovered)
Fiscal Year
Previous Guidance
0.43
0.44 0.45 0.46
Annual Production Profile
Expectation Gap
• The Stub Year (SY) 8 month period runs from May 1 – December 31, 2015, with guidance of between 90,000 –
100,000 ounces. Former F2016 12 month period had guidance of between 150,000 – 170,000 ounces, as shown in
the dotted line.
• 2016, 2017 and 2018 have December 31st year ends.
www.klgold.com 14
HeadGrade(OuncesPerTon)
= 200 employees
TSX:KGI

15. Q4
Results
Q4/15 Vs
Q4/14
YE
Results
F2015 Vs
F2014
COSTS
Cash Cost Per Ton
$371
US$297
+5%
-7%
$346
US$301
+1%
-7%
Cash Operating Cost Per
Ounce
$899
US$720
-10%
-21%
$831
US$723
-23%
-29%
All-In Cash Costs
$1,459
US$1,169
-18%
-27%
$1,325
US$1,152
-33%
-38%
SALES
Gold Sales 39,109 +27% 155,709 +24%
Average Sales Price $1,481 +8% $1,412 +2%
Revenues $57.9MM +37% $219.9MM +27%
CASH
FLOW
Cash Flow from Operations $20.7MM $78.2MM
Free Cash Flow $7.8MM $30.7MM
Q4 & YE F2015 Financial Highlights
- All US$ equivalents are converted at the average CAD to USD exchange rate during the reporting period.
- See Pg. 23 for fiscal 2015 guidance on certain financial metrics provided above and Pg.24 in the appendix for further financial results.
www.klgold.com 15
COSTSSALES
CASH
FLOW
TSX:KGI

16. AICC by Quarter (over 18 months)
$1,143
$1,009
$788
$889
$766
$885
0.33
0.37
0.45
0.41
0.44
0.42
-
0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
0.45
0.50
$0
$500
$1,000
$1,500
$2,000
Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15
AICC per Oz Produced vs Grade
Production Capital Development PP&E Corporate Exploration Royalties Grade
• 16% Reduction in Labour Force and Cancelled Incentive Programs (e.g. home loan assistance and travel)
• Major Capital Projects (PP&E) Completed in January 2014
CostinC$perOunceProduced
HeadGrade(OuncesPerTon)
www.klgold.com 16TSX:KGI
Fiscal Year

17. Capital Expenditures
• Project Capital was Completed in January 2014
• C$9M in Capital Development of 5400L and SMC Main Decline to 5600L Spent in FY15
• F2015 Sustaining Capex reduced from $51MM to $50MM after Q3
22.4
30.9
45.8 46.9
55.0
41.5
9.7
28.9
24.5
44.0 29.6
6.0
0
20
40
60
80
100
2010 2011 2012 2013 2014 2015
C$Millions
Mineral Properties PP&E
www.klgold.com 17TSX:KGI

18. Exploration Potential In A Historic Camp
www.klgold.com 18
Current Underground and
Surface Drilling Targets
Currently mining and
exploring on one of
the five mine targets.
Three main areas
currently being
explored from
surface and
underground.
Regional
exploration to test
eastwards along
strike.
Potential Regional
Program
TSX:KGI

19. Drilling on the HM Claim (SMC)
MACASSA COMPLEX
53-2705 (NSZ)
5.02 opt/ 6.7 feet
(172.1 gpt/ 2.0 metres)
53-2822 (NSZ)
3.46 opt/ 6.4 feet
(118.6 gpt/ 2.0 metres)
53-2699 (HWZ)
2.17 opt/ 7.0 feet
(74.4 gpt/ 2.1 metres)
53-23701 (HWZ)
1.18 opt/ 15.8 feet
(40.5 gpt/ 4.8 metres)
53-2818 (HWZ)
1.30 opt/ 6.0 feet
(44.6 gpt/ 1.8 metres)
www.klgold.com 19TSX:KGI

20. ‘04 Break Underground Drilling
www.klgold.com 20
Selected Highlights
DH 34-666
2.53 opt/ 2.4 feet
(86.75 g/t over
0.7 metres)
DH 34-668
0.80 opt/ 4.4 feet
(27.43 g/t over
1.3 metres)
See press release dated February 23, 2015
TSX:KGI

21. Near Surface Exploration Target
• Near surface mineralization is within 2 Km’s of mill
• Mill has excess capacity of +/- 1,000 tpd
• Mineralization from 100’ to 1,000’ below surface
• Open across strike
• M&I 330,000 tons @0.34opt (11.7gpt) 112,000 oz
• Infer 100,000 tons @0.42opt (14.4gpt) 42,000 oz
www.klgold.com 21TSX/AIM:KGI

22. F2015 Achievements Vs Guidance
All amounts stated are in Canadian dollars
www.klgold.com 22
After Q3/15 the Company was on track to meet and or exceed the stated guidance parameters and as such, revised (“R”
indicates revised guidance), a number of the guidance figures as noted below.
FY2015 Guidance Metric Actual
$800 - 850 Cash operating cost (per ounce produced) $831
$1,250 - 1,350 AICC (per ounce produced) $1,327
R $50.0 million Sustaining capital expense (CAPEX) $47.5 million
R $218.0 – 222.0 million Revenue $219.9 million
R $70.0 – 75.0 million Cash flow from operations $78.2 million
R $30.0 – 35.0 million Free cash flow generation $30.7 million
TSX:KGI

23. APPENDIX
Notes, additional disclosure and other information
www.klgold.com 23TSX:KGI

24. Analyst Coverage
Firm Analyst
Dundee Securities Joe Fazzini
CIBC World Markets Cosmos Chiu
Macquarie Capital Markets Ron Stewart
National Bank Financial Raj Ray
BMO Capital Markets Brian Quast
Clarus Securities Jamie Spratt
PI Financial Philip Ker
Firm Analyst
M Partners Derek Macpherson
Scotiabank Mike Hocking
Pareto Securities John McClintock
Mirabaud Securities Richard Morgan
Panmure Gordon & Co Alison Turner
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.
www.klgold.com 24TSX:KGI

25. F2015 Q4 and YE Financial Results
Financial
FY2015
YE
FY2014
YE
Y/Y
Change
Q4/15 Q3/15 Q4/14
Q4/15
vs.
Q3/15
Q4/15
vs.
Q4/14
Gold Sales
(ounces)
155,709 125,274 +24% 39,109 39,722 30,771 -2% +27%
Average Price Sold
(per ounce)
$1,412
US$1,228
$1,383
US$1,304
+2%
- 6%
$1,481
US$1,186
$1,371
US$1,175
$1,376
US$1,245
+8%
+1%
+8%
-5%
Revenue (000’s) C$219,888 C$173,258 +27% C$57,934 C$54,471 C$42,357 +6% +37%
Cash Operating
Cost per Ton
Produced
$346
US$301
$342
US$323
1%
-7%
$371
US$291
$328
US$281
$352
US$319
+13%
+6%
+5%
-7%
Cash Operating
Cost per Ounce
Produced
$831
US$723
$1,080
US$1,019
-23%
-29%
$885
US$709
$766
US$656
$1,001
US$906
+17%
+10%
-10%
-21%
All-in Cash Cost
(“AICC”) per Ounce
Produced
$1,325
US$1,152
$1,986
US$1,873
-33%
-38%
$1,445
US$1,157
$1,249
US$1,070
$1,774
US$1,605
+17%
+9%
-18%
-27%
All amounts stated are in Canadian dollars unless otherwise stated
www.klgold.com 25
- All US$ equivalents are converted at the average CAD to USD exchange rate during the reporting period.
- See Fiscal 2015 guidance on certain financial metrics provided above
TSX:KGI

26. Expansion Capital
• Hoisting system capable of hoisting 3,600 tpd
• Mary-Anne Compartment installed in Shaft providing service cage
• Mill upgraded to handle 2,200 tpd
• Underground infrastructure and battery equipment in place for SMC
www.klgold.com 26TSX:KGI

27. SMC Underground Drilling
www.klgold.com 27
UG DRILLING
• SMC continues to be expanded
• Multi-ounce intersections
• 3 drills turning underground
• Open in multiple directions
53-2493 (NSZ)
1.85 opt/ 11.6 feet
(63.43 gpt/ 3.5 metres)
53-2597 (NSZ)
0.36 opt/14.7 feet
(12.34 gpt/ 4.5 metres)
53-2595 (NFZ)
3.55 opt/ 11.4 feet
(121.72 gpt/ 3.5 metres)
TSX:KGI

28. 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).
www.klgold.com 28
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)
TSX:KGI

29. QP Info and Notes to Reserves & Resources
The reserve and resource estimates have been audited and verified, and the technical disclosure in thie 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 will be filed on SEDAR (www.sedar.com) within 45 days of this press release.
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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Suzette N Ramcharan, CPIR
Director of Investor Relations
+1-416-840-7884
Mobile: +1-647-284-5315
sramcharan@klgold.com
Tim Blythe / Halimah Hussain
(Blytheweigh)
Investor Relations / PR
+44-207-138-3204
Tim.blythe@blytheweigh.com/
halimah.hussain@blytheweigh.com
TSX : KGI