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TSX:KLG 1 klgold.com
VALUE & GROWTH
FOCUSED ON GOLD
Q3 2016 EARNINGS CALL November 3, 2016
“The New Mid-Tier Gold Company”

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TSX:KLG 2 klgold.com
Cautionary Language
Use of Non-GAAP Measures
This Presentation refers to average realized price, operating costs and all-in sustaining costs (“AISC”) per ounce of gold sold, operating cost per tonne produced, free cash flow and
per share and adjusted net earnings and per share 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 presented under IFRS. Refer to each Company’s most recent MD&A for a reconciliation of these measures.
Certain statements in this presentation constitute ‘forward looking statements’, including statements regarding the plans, intentions, beliefs and current expectations
of the Company with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”,
“anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements.
Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date
the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or
results to differ materially from those projected in the forward-looking statements. These factors include, among others, the development of the Macassa Mine
Complex and the Holt Mine Complex and the anticipated timing thereof, estimated production results, the anticipated timing and commencement of exploration
programs on various targets within the Company’s land holdings, the ability to lower costs and gradually increase production, expectations regarding whether the
Transaction will be consummated, as proposed or at all, including whether conditions to the consummation of the Transaction, including but not limited to the receipt
of regulatory, shareholder and court approvals, will be satisfied, or the timing for completing the Transaction, expectations regarding the effects of the Transaction
or the ability of the combined company to successfully achieve business objectives, including integrating the companies or the effects of unexpected costs, liabilities
or delays, the potential benefits and synergies of the Transaction and expectations of other economic, business and or competitive factors, the Company's
expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit
availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates
(such as the Canadian dollar versus the United States dollar), mark-to-market derivative variances, possible variations in ore grade or recovery rates, changes in
accounting policies, changes in the Company's corporate mineral resources, changes in project parameters as plans continue to be refined, changes in project
development, construction, production and commissioning time frames, the possibility of project cost overruns or unanticipated costs and expenses, higher prices
for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to
operate as anticipated, unexpected changes in mine life, seasonality and unanticipated weather changes, costs and timing of the development of new deposits,
success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title
disputes or claims, and limitations on insurance, as well as those risk factors discussed or referred to in the Company's AIF for the year ended December 31, 2015
and the Company’s information circular dated October 28, 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 statements prove incorrect,
actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has
attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as
anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as
otherwise required by applicable law.
Mineral resources are not mineral reserves, and do not have demonstrated economic viability, but do have reasonable prospects for economic extraction. Measured
and indicated resources are sufficiently well defined to allow geological and grade continuity to be reasonably assumed and permit the application of technical and
economic parameters in assessing the economic viability of the resource. Inferred resources are estimated on limited information not sufficient to verify geological
and grade continuity or to allow technical and economic parameters to be applied. Inferred resources are too speculative geologically to have economic
considerations applied to them to enable them to be categorized as mineral reserves. There is no certainty that mineral resources of any category can be upgraded
to mineral reserves through continued exploration.

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TSX:KLG 3 klgold.com
2016 Third Quarter Earnings Call
For the 3 and 9 month period ending September 30, 2016 (Q3/16)
Non-GAAP Measures
• Average Realized Price Per Ounce of Gold Sold
• Cash Operating Cost Per Tonne Produced
• Operating Cost and per Ounce Sold
• All-in Sustaining Costs per Ounce Sold
• Free Cash Flow and per share
• Adjusted Net Earnings and per share
Change in Year End
Changed from April 30th to a calendar year end as of January 1,
2016.
Comparative period for reporting purposes:
Q3/16 is compared to Q2/SY15
(covers the three month period ending October 31, 2015)
YTD 2016 is compared to YTD/15 (nine month period from
February 1, 2015 to October 31, 2015)
Conversion Calculations Short Tons Metric Tonnes
Troy Ounce Grams per Tonne

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TSX:KLG 4 klgold.com
Q3/16 Operating Highlights
Record quarter of gold production
• Produced 77,274 ounces
• Sold 76,339 ounces
• Average realized price per ounce of gold sold of
US$1,321/oz*
Solid cost performance
• Operating cost of US$540/oz*
• AISC of US$970/oz*

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TSX:KLG 5 klgold.com
Q3/16 Financial Highlights
Adjusted net earnings*
• $27.9 million or $0.24 per share
Record net income
• $24.8 million or $0.21 per share
Positive free cash flow*
• $30.2 million
• $0.26 per share
Cash and trade receivables* as at September 30, 2016
• $222.9 million
*Non-GAAP measure. Refer to slide 2, “Cautionary Language”, for more information

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TSX:KLG 6 klgold.com
Q3/16 Highlights
Royalty buy back
• Reduced the royalty in Kirkland Lake to 1.5%
(1% purchased for US$30.5 million)
Business combination with Newmarket Gold Inc. (“Newmarket”)
• Creates new mid-tier gold producer
Annual production of +500kozs
Cash costs <=US$650/oz*
AISC of <=US$1,015/oz*
*Non-GAAP measure. Refer to slide 2, “Cautionary Language”, for more information

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TSX:KLG 7 klgold.com
Overview of Operations
Q3/16 YTD/16
MACASSA MINE COMPLEX
Production (ounces) 42,866 122,849
Grade (g/t)1 16.5 15.2
Cost per tonne (C$/tonne produced)* $307 $326
Cost per ounce (US$/oz sold)* $546 $568
HOLT MINE COMPLEX
Production (ounces) 34,409 85,037
Grade (g/t) 5.5 5.2
Cost per tonne (C$/tonne produced)* $111 $141
Cost per ounce (US$/oz sold)* $532 $621
Production Grade Recovery
2016 YTD Consolidated Results 207,886 ounces 8.1 g/t 96%
1 The grade at Macassa does not take into account the low grade material processed which would have resulted in grades of 13.7 g/t for
Q3/16 and 13.6 g/t YTD for Macassa
*Non-GAAP measure. Refer to slide 2, “Cautionary Language”, for more information

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TSX:KLG 8 klgold.com
Holt Mine Complex Breakdown
Q3/16 YTD/16
HOLT MINE
Production (ounces) 14,950 37,473
Grade (g/t) 4.8 4.5
HOLLOWAY MINE
Production (ounces) 7,829 16,867
Grade (g/t) 5.1 4.7
TAYLOR MINE1
Production (ounces) 11,630 30,698
Grade (g/t) 7.1 7.1
Operating Cost (US$/oz sold)* $379 $433
AISC (US$/oz sold)* $732 $670
1Taylor production and grade includes low grade material processed in Q2 and Q3, 2016
*Non-GAAP measure. Refer to slide 2, “Cautionary Language”, for more information

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TSX:KLG 9 klgold.com
Perry Ing, CFO
FINANCIAL SUMMARY

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TSX:KLG 10 klgold.com
Q3/16 Key Financial Information
COSTS
Revenue C$132 M
Operating Costs C$ 54 M
Amortization & Depletion C$ 16 M
Royalties C$ 6 M
Total Production Expenses C$ 76 M
Operating Cost (C$/tonne produced)* C$175/tonne
Operating Cost (US$/oz sold)* US$540/oz
Capital Expenditures (C$ millions) C$ 33 M
AISC (US$/oz sold)* US$970/oz
*Non-GAAP measure. Refer to slide 2, “Cautionary Language”, for more information

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TSX:KLG 11 klgold.com
Q3/16 Key Financial Information
PROFITABILITY
Gross Profits C$ 56 M
G&A Expense C$ 6 M
Exploration Expense C$ 6 M
Finance Expense C$ 4 M
Income Tax Expense C$ 15 M
Net Income C$ 24.8 M
Earnings Per Share (Basic) C$0.21
Adjusted Net Earnings Per Share (Basic)* C$0.24
The effective tax rate is 37%, however we do not currently pay cash taxes
*Non-GAAP measure. Refer to slide 2, “Cautionary Language”, for more information

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TSX:KLG 12 klgold.com
Q3/16 Key Financial Information
CASH FLOW
Free Cash Flow* C$ 30.2 M
Cash & Cash Equivalents C$211.5 M
Trade Receivable1 C$ 11.4 M
Total Cash & Bullion C$222.9 M
1 Trade receivable is the receivable amount for gold sold and recognized as revenue for which the cash has not yet been received.
*Non-GAAP measure. Refer to slide 2, “Cautionary Language”, for more information

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TSX:KLG 13 klgold.com
FNV Royalty Buy Back
FNV Royalty 2.5% NSR (on land holdings in Kirkland Lake camp)
The Company had the option to buy back 1% of the NSR royalty at a cost of US$36MM less any monies paid
against the 1% (estimated to be ~US$30MM)
• On October 5, 2016, provided notice to FNV of intent to buy back 1%
of the 2..5% NSR royalty.
• Calculated as US$36 million, less any monies paid towards the 1%
portion up to the buy back date (October 31, 2016)
• Payment of US$30.5 million remitted to FNV today

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TSX:KLG 14 klgold.com
Doug Cater, VP Exploration
EXPLORATION OVERVIEW

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TSX:KLG 15 klgold.com
Kirkland Lake Camp Exploration

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TSX:KLG 16 klgold.com
SMC Underground Drilling
Plan View showing 5300’ Level infrastructure testing the easterly strike extension
of the SMC

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TSX:KLG 17 klgold.com
‘04/Main Break Underground Drilling
3000’Level
Long Section View Looking North

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TSX:KLG 18 klgold.com
Holloway Exploration Program
Surface
Shaft Bottom
(867m)
Long section view looking north
SMOKE DEEP TARGET
(down plunge)
SMOKE DEEP (up-dip)
DEEP THUNDER
LIGHTVAL
TARGET CANAMAX BLACKTOP EAST
HOLLOWAY NORTH
TARGET
Targeting a number of targets along strike on the Holloway property
• Lightval (surface target)
• Holloway North (~500m below surface)
• Smoke Deep (down plunge to the east, and up dip to the north)
• Blacktop (east and west along strike…and to depth towards Smoke)

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TSX:KLG 19 klgold.com
Taylor Exploration Program
2016 DRILL COVERAGE
2016 DRILL
COVERAGE

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TSX:KLG 20 klgold.com
Anthony Makuch, President & CEO
SUMMARY

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TSX:KLG 21 klgold.com
Highlights of the Business Combination with Newmarket
Creating a new mid-tier gold producer
• +500koz producer with cash costs below US$650/oz and AISC below
US$1,015/oz
• 3 core assets that will produce +300koz at cash costs below US$600/oz
and ASIC below US$800/oz (Macassa, Fosterville and Taylor)
Cash Flow and Balance Sheet to Support Growth Initiatives
• Significant free cash flow generation expected to be +$200 million
annually
• Combined Company will have +$275 million in cash
Exploration Potential in 2 Leading Jurisdictions
• District scale land positions in 2 leading jurisdictions, with considerable
exploration potential ahead
• Exploration programs will continue to drive future organic growth
opportunities

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TSX:KLG 22 klgold.com
Special Meeting of Shareholders
Joint Information Circular Filed on October 31, 2016
Form of Proxy
PROXY VOTING CUT-OFF November 23, 2016
How can I vote my shares?
Please feel free to contact Kingsdale Shareholder Services to assist:
KINGSDALE SHAREHOLDER SERVICES
Toll-free (within North America) 1-877-659-1824
Collect calls (outside of North America) 1-416-867-2272
Email: [email protected]
SHAREHOLDER MEETING November 25, 2016 @ 10:00am ET Offices of Cassels Brock & Blackwell LLP,
Suite 2100, 40 King Street West, Toronto,
Ontario M5H 3C2

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TSX:KLG 23 klgold.com
YTD 2016 Tracking Well
Guidance Metrics YTD 2016 Status
Production 270 – 290 kozs 208kozs Above 280kozs
Grade 7.7 g/t Au 8.2 g/t Au On Track
Operating Costs per
Ounce Sold*
US$600-$650 US$591 Low end of range
C$800-$850 C$781
AISC per Ounce Sold* US$1,000-$1,050 US$940
Low end of range C$1,300-$1,350 C$1,243
YTD 2016 Financial Information
Free Cash Flow* C$87.5 M $0.78 per share
Adjusted Net Earnings* C$58.2 M $0.52 per share
Net Income C$51.0 M $0.46 per share
*Non-GAAP measure. Refer to slide 2, “Cautionary Language”, for more information

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TSX:KLG 24 klgold.com
Q&A Session

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TSX:KLG 25 klgold.com
Suzette N Ramcharan, CPIR
Director of Investor Relations
+1-647-361-0200