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TSX:KLG 1 klgold.com

Denver Gold Forum | September 19, 2016

Corporate Presentation

Presenter: Perry Ing, CFO

VALUE & GROWTH

FOCUSED ON GOLD



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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 this 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, and capital

expenditures; 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; increased throughput at the Holt and Taylor mines, and Company’s ability to further

reduce costs through various efficiency projects across the operations and the timing thereof.

With respect to the forward-looking information of Kirkland Lake Gold, concerning gold resources and reserves of the Kirkland Lake properties and

the PDFZ properties, the development of such properties are subject to various key assumptions described in the Annual Information Forms and

Technical Reports of both Kirkland Lake Gold and St Andrew Goldfields Ltd. referred to herein and as filed on the SEDAR profiles of both

companies at www.sedar.com and on the Company’s website at www.klgold.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 for the interim period ended June 30, 2016, 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.

http://www.sedar.com/





http://www.klgold.com/












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Investment Highlights

Cash Costs <US$650

AISC <US$1,050

C$24M Exploration

Program for 2016

~C$184M in Cash

Generated C$57.3M in

Free Cash Flow YTD

2.3M Oz’s of P&P

+

3.4M Oz’s of M&I

+

3.2M Oz’s of Inferred

*Example of forward-looking information

1 see Reserve and Resource Statements in Appendix of this presentation; 2 As at August 31, 2016 (see press release dated September 13, 2016)

Holt Mine

Taylor Mine Holt Mill

Macassa Mine Complex

Holloway Mine

2016 Production of

270-290k Oz’s



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Diversified Assets In A Prolific, Mining Friendly Region

Holt Mine Complex

H1/16 Production1 50.6k Ozs Au

H1/16 Head Grade 5.1 g/t Au

Holt Mill 3,000 tpd (75% utilized)

Resources & Reserves* (operating assets only)

Total P&P 0.8M Ozs (5.1 g/t Au)

Holt Mine 591k Ozs (4.8 g/t Au)

Taylor Mine 156k Ozs (6.3 g/t Au)

Holloway Mine 40k Ozs (5.4 g/t Au)

Measured & Indicated 1.4M Ozs (4.1 g/t Au)

Inferred 1.8M Ozs (4.6 g/t Au)

Macassa Mine Complex

H1/16 Production 79.9k Ozs Au

H1/16 Head Grade 13.6 g/t Au

Macassa Mill 2,000 tpd (50% utilized)

Reserves & Resources* (operating assets only)

Total P&P Reserves

(Macassa Mine Complex) 1.5M Ozs (19.2 g/t Au)

Measured & Indicated

(Property Wide) 1.8M Ozs (17.4 g/t Au)

Inferred (Property Wide) 1.1M Ozs (20.1 g/t Au)

*Resources are exclusive of Reserves. See Company websites for NI 43-101 disclosure (www.kllgold.com; www.sasgoldmines.com)

QUÉBEC

1 Q1 Production from East Timmins Operations excludes 7,189 ounces from ETO from January 1 to January 25, 2016.

2 AISC is a non-GAAP measure, see Q1/16 MDA for reconciliation of non-GAAP measures



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Financial Position

CASH 1

C$ 184 million Cash & cash equivalents

DEBT C$119 million convertible debentures

KGI.DB: 6% $15.00 conversion price

C$56.9MM mature Jun/2017

KGI.DB.A: 7.5% $13.70 conversion price

C$62.1MM mature Dec/2017

1 Cash balance as of August 31, 2016 (see press release dated September 13, 2016); 2 As at August 1, 2016; 3 Non-GAAP Measure, refer to MDA dated June 30, 2016

CAPITAL STRUCTURE 2

ISSUED SHARES 117.4 million

Stock Options ~3.5 million

FULLY DILUTED ~120.9 million

MARKET

CAPITALIZATION 2 C$1.3 billion

ROYALTY

BUYBACK 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% (Approx.

US$30MM)

$57.3M

Free Cash Flow3

$170.6M

Operating Cash Flow

$227.9M

Revenue

H1/2016 Financial Highlights



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Share Structure and Relative Share Price Performance

Major Shareholders (~40%) 2

• Van Eck Associates Corporation (~13%)

• Fidelity Investments (~7%)

• Resolute Funds (~7%)

• Eric Sprott (~6%)

• Sentry Select (~5%)

• Abramson Family (~5%)

• Oppenheimer Funds Inc. (~3%)

• Sprott Asset Management (~3%)

52 Week Performance 2

HIGH C$12.39

LOW C$4.51

Current Share Price C$11.45

1 As at September 9, 2016: 2 As at August 19, 2016

50

75

100

125

150

175

200

225

250

Sep-15 Dec-15 Mar-16 Jun-16 Sep-16

Kirkland Lake GDX ETF (C$)

Spot Gold (C$)

18%

98%

124%



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YTD Operational Performance

MACASSA MINE

COMPLEX

HOLT MINE

COMPLEX

Tonnes Milled 188,762 327,631

Head Grade (g/t) 13.6 5.0

Recovery 97.3% 94.4%

Ounces Produced 79,983 50,630

Cost per Tonne (C$/tonne)1 $335 $136

Cash Costs (US$/Oz) 1 $784 $669

1 Production excludes 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 Cost per tonne and cash costs per ounce sold are non-GAAP performance measures. While they are 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



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Tracking Well Against 2016 KPI’s

Guidance Metrics All figures are in C$ unless stated otherwise

Q1/16

Actual

Q2/16

Actual YTD Actual 2016 Guidance

Total Gold Production (kOzs) 62.3 68.4 130.6 270 - 290

Head Grade (g/t Au) 9.1 7.9 8.2 7.7

Cash Operating Cash Costs ($/Oz) US$569 $667 $641 US$600-US$650 3

All-In Sustaining Costs 2

($/Oz of gold sold) US$861 $990 $925 US$1,000- US$1,050 3

Total Capital Expenditures

(New & Sustaining Capital, Property, Plant

& Equipment)

$20.1M $21.0M $41.1M $120M

1 Production excludes 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




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2016 Exploration Program

2016 Budget of $24M (includes $6M FT dollars)

Kirkland Lake Properties

(including Macassa Mine Complex)

PDFZ Properties

(including Holt Mine Complex)

Surface Drilling (4-7 drills)

• SMC along strike

• Main Break at depth

• Amalgamated Break

Surface Drilling (5 drills)

• Holt-Holloway Property

• Taylor Property

• Hislop Property

Underground Drilling (3 drills)

• 5300’ Level - SMC infill/ expansion

• 4250’ Level - ’04 Break expansion

Underground Drilling (5 drills)

• Holloway Mine (Smoke Deep Zone)

• Taylor Mine (WPZ along strike and at depth)

• Holt Mine (Zone 4 and Ghost Zone)

The Company closed a $15M Flow-Through financing in July in order to enhance it’s exploration

efforts across its land holdings within the Kirkland Lake Camp and along the Porcupine-Destor Fault

Zone (PDFZ)



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Kirkland Lake Gold Camp

The Kirkland Lake gold

camp has been in

production for over 100

years

One of the highest grade

gold camps in the world

Almost 25 Moz’s has been

produced to date, from

seven mines

KLG owns five former

producing high grade

mines with historical

production of ~22 Moz’s of

gold

Average head grade of

15.1 g/t

Currently only mining and

exploration on one of these

past producers

Toburn



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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

See press release dated January 19, 2016, as filed on SEDAR



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Holt-Holloway Exploration Potential

Lightning

Smoke Deep Blacktop

Canamx

Deep Thunder

Ghost

Zone 4

Zone 6

Tousignant

Holt Property

Holloway Property Holloway West

(Harker) Lightval



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A Profitable Mid-Tier Gold Producer

PRODUCTION

LOW COST & PROFITABLE

SUSTAINABLE

GROWTH

• Diversified production from 4 mines and 2 mills

o 2016 gold production 270-290k Oz’s

• Strong balance sheet and positive cash flow

generation

o Cash costs of US$600 - $650/Oz

o AISC of US$1,000 - $1,050/Oz

• Large reserve and resource base

o Supports long term sustainable production

• Highly prospective land holdings

o Increased exploration spending to support

organic growth potential

Leveraged to the Canadian dollar




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www.klgold.com

Suzette N Ramcharan, CPIR

Director of Investor Relations

+1-647-361-0200

[email protected]

mailto:[email protected]



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APPENDIX

Notes, additional disclosure and other

information



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Directors and Management

Eric Sprott 2 Non-executive Chairman Barry Cooper, B.Sc., MBA 1 Non-executive Director

Barry Olson, M.Sc. 1 Non-executive Director Pamela Klessig, P.Geo. Non-executive Director

Dawn Whittaker, LLB Non-executive Director Jeffrey Parr, CPA-CA, BA, MBA 1 Non-executive Director

Anthony Makuch Director

Anthony (Tony) Makuch President & Chief Executive Officer

Perry Ing, CPA-CA, CPA (Ill), CFA 3

Chief Financial Officer

Keyvan Salehi, P.Eng., MBA

VP Technical Services & Corporate Development

Meri Verli, CA, CPA

Sr. VP Finance and Treasurer

Pierre Rocque, P.Eng

VP Mining Engineering

Ray Yip,

VP Business Intelligence Systems

Doug Cater, P.Geo.

VP Exploration

Jennifer Wagner, LL.B

Corporate Legal Counsel

Kevin Fearn, BA, CHRP, CHRL

Director, Human Resources

Suzette N Ramcharan, CPIR

Director, Investor Relations

Board of Directors

Senior Management



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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 Stuart McDougall

Mirabaud Securities Richard Morgan

Firm Analyst

Scotiabank Craig Johnston

PI Financial Philip Ker

National Bank Financial Raj Ray

Clarus Securities Jamie Spratt

Investec Bank Hunter Hillcoat

Pareto Securities John McClintock

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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A High-Grade Corner Stone

Underground Mine

MACASSA MINE COMPLEX



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Macassa Mine Complex Overview

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


Mineral Resources

(Inferred) 1.7 Moz’s @ 19.2 g/t

1.9M tonnes


2016E H1/2016A

Gold Production (k Oz’s) 160 – 170 79.9

Head Grade (g/t Au) 15.1 13.6

See Appendix for more disclosure on MRMR statement which is as of December 31, 2014.

Macassa Mill – 2,000 tpd capacity

Production from the SMC and ’04/Main Break feed the mill at approximately 950 tpd

Note: During Q2/2016 the Company processed approximately 13,616 tonnes of ore from low grade surface stockpiles

grading 1.7 g/t.



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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


5400 Level


5600 Level


5700 Level


South Mine Complex by Level

OPEN

*Drawing not to scale

NOTE: Example of a forward-looking statement

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

Fully developed and

currently in production

6 stopes in production

Currently in development, while ramp

towards 5700 Level continues



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HOLT MINE

COMPLEX Sustainable Production

HOLT MINE COMPLEX



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PDFZ Properties

Holt, Holloway, Taylor HOLT MINE COMPLEX (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

(Tahoe Resources)



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Holt Mine Complex Overview

Reserves & Resources*

Property Wide

Mineral Reserves

(P&P) 0.8 Moz’s @ 5.3 g/t

5.2M tonnes

Mineral Resources

(M&I) 1.7 Moz’s @ 4.2 g/t

12.9M tonnes

Mineral Resources

(Inferred) 2.2 Moz’s @ 4.5 g/t

14.9M tonnes


HOLT MINE ~1,200tpd

(shaft access underground mine)

HOLLOWAY MINE ~500tpd

(shaft access underground mine

TAYLOR MINE ~500tpd

(ramp access underground mine)

*The property wide M&I and Inferred resources do not include Aquarius which currently has 0.9 Mozs (22.3M tonnes at 1.3 g/t Au) and inferred resources of 230 ounces (9,000 tonnes at

0.8 g/t Au).

Holt Mill – 3,000 tpd capacity

Holt-Holloway and Taylor mines feed

the mill at approximately 2,200 tpd

2016E H1/2016A

Gold Production (k Oz’s) 110 - 120 50.6

Head Grade (g/t Au) 4.8 5.0

Note: During Q2/2016 the Company processed approximately 4,566 tonnes of ore from low grade surface stockpiles at the

Taylor Mine grading 2.3 g/t.



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Holt Mine – Long Section

All figures are rounded.


P&P Reserves 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

Ghost Zone 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

500 m

Surface

Shaft Bottom (1.2km)

Ghost Zone

Zone 6

Zone 4

Zone 4 West

Extension

• Current production is derived

from Zone 4 (~1,000tpd) and

Zone 6 (~250tpd)

• Ore is crushed underground and

skipped to surface for processing

at the Holt Mill

View looking north



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Holloway Mine – Long Section

P&P Reserves 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

Smoke 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



• Current production is derived predominantly from the Smoke Deep Zone, with a small contribution from the Blacktop Zone (~550tpd)

• Ore is crushed underground, skipped to surface, and trucked 1km to the Holt Mill for processing

Surface

500 m

Shaft Bottom (867m)

Smoke Deep Zone

Blacktop Zone

View looking north

Middle Zone

Lightning Zone



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150m

Taylor Mine – Long Section

Zone P&P Reserves M&I Resources Inferred Resources

WPZ 156 koz’s

0.8Mt @ 6.3 g/t Au

239 koz’s

1.6Mt @ 4.6 g/t Au

222 koz’s

1.7Mt @ 4.0 g/t Au

Shoot Zone - 116 koz’s

0.7Mt @ 5.2 g/t Au

3 koz’s

20kt @ 5.2 g/t Au

Shaft Zone - - 32 koz’s

205kt @ 5.0 g/t Au

Surface

Bourgois Claim Shoot Zone



• St Andrew declared commercial production at Taylor in November 2015

• Estimated annual production of between 30 - 40 koz’s of gold (~550tpd run rate)

• Ore is trucked approximately 70km to the Holt Mill for crushing and processing

• Mineralization remains open at depth and along strike

Bulk Sample

#1

Bulk Sample

#2 1004 Lens

1006-1 Lens

1008-1 Lens

1008-2 Lens

100m

250m

350m 1006-2 Lens

500m

View looking north

OPEN

Underexplored Area



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Hislop Project

100 m

100 m

200 m

300 m

Hislop Mine – Long Section looking northeast

• Located approximately 45km west of the

Holt Mill.

• St Andrew mined two pits (east and west pit)

from 2010 to 2014.

• Currently assessing plans and economics to

bring into production in 2017.

A A’



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Organic Growth Opportunities

EXPLORATION PROGRAMS



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Kirkland Lake Gold Camp

The Kirkland Lake gold

camp has been in

production for over 100

years

One of the highest grade

gold camps in the world

Almost 25 Moz’s has been

produced to date, from

seven mines

KLG owns five former

producing high grade

mines with historical

production of ~22 Moz’s of

gold

Average head grade of

15.1 g/t

Currently only mining and

exploration on one of these

past producers

Toburn



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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

See press release dated January 19, 2016, as filed on SEDAR



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Plan View of SMC Drilling in Relation to Infrastructure



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Underground Drilling Testing New Mineralization on the ‘04 Break



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Regional Drilling – Section Looking East

SELECTED HIGHLIGHTS

AB-15-12

11.7 g/ 0.3 metres

0.34 opt/ 1.0 feet

AB-15-23 3,241.4 g/ 0.7 metres

94.54 opt/ 2.3 feet

11.7 g/ 0.3 metres

0.34 opt/ 1.0 feet

AB-15-53 12.3 g/ 0.5 metres

0.36 opt/ 1.7 feet

AB-15-91 646.3 g/ 0.9 metres

18.85 opt/ 2.8 feet

including 1,783.2 g/ 0.3 metres

52.01 opt/ 1.0 feet

And 89.5 g/ 0.3 metres

2.61 opt/ 1.0 feet

See press release dated November 3, 2015, as filed on SEDAR



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Holt-Holloway Exploration Potential

Lightning

Smoke Deep Blacktop

Canamx

Deep Thunder

Ghost

Zone 4

Zone 6

Tousignant

Holt Property

Holloway Property Holloway West

(Harker) Lightval



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Holt Exploration Targets

Tousignant Deposit

Zone 6

Zone 4

Mattawasaga Pits

Ghost Zone

Surface

2016 Exploration Targets

• Ongoing drilling from underground testing the westerly extension of Zone 4 from the 850m Level

• Once access and drill bay has been completed on the 435m Level, drilling will commence to test the westerly

extension of the Ghost Zone

• Surface drilling will commence in Q4 to test the Tousignant Deposit along strike to the west

1075m Level

925m Level

435m Level

Current drift

development

Long section view looking north

Zone 4 West Extension

500 m 1 km 0 2 km 3 km 1 km 1.5 km

TOUSIGNANT TARGET GHOST TARGET

ZONE 4 TARGET



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Holloway Exploration Targets

Surface

Shaft Bottom

(867m)

Long section view looking north

SMOKE DEEP TARGET

(down plunge)

SMOKE DEEP (up-dip) &

BLACKTOP (west extension)

TARGET

HOLLOWAY NORTH

TARGET

500 m 1 km 3 km

2016 Exploration Targets

• Smoke Deep Targets are testing for the extension of the Smoke Deep Zone mineralization down plunge and

to the east, as well as the up-dip component above the 550m Level drift.

• Holloway North Target is testing for mineralization on the PDFZ higher-up in elevation

• Deep Thunder Target following up along strike of previous drilling, further to the east

DEEP THUNDER

TARGET

(along strike)



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Taylor Planned Drilling – Plan View



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Taylor Mine Exploration Targets – Long Section

Long Section Looking North

West Porphyry Zone (WPZ)

Indicated 248 koz

1.63M tonnes @ 4.7 g/t

Inferred 251 koz

1.86M tonnes @ 4.2 g/t

surface



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Q2 2016 Financial Results

For the three and six months ended June 30, 2016

All amounts are in C$ unless otherwise stated. Q2 2016 H1 2016 C

OS

TS

Operating Cost (per tonne milled) 1 $208 $234

Operating Cost (per ounce sold) 1 US$667 2 US$641 2

All-In Sustaining Costs (per ounce sold) 1 US$990 2 US$925 2

SA

LES

an

d

PR

OFIT

S

Gold Sales (ounces) 72,144 141,453

Average Realized Sales Price 1 US$1,271 2 US$1,211 2

Revenue (millions) $118M $228M

Income Before Taxes (millions) $22.0M $41.9M

Earnings Per Share $0.12 $0.24

CA

SH

FLO

W

Free Cash Flow (millions) 1 $39.1M $57.3M

Cash and Cash Equivalents (millions) - $157.5M

1 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. 2 Average USD:CAD exchange rate for each period



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SMC Drilling on the South Claims



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‘04 Break Drilling Results



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Mineral Reserve Estimates

Resources are exclusive of Reserves

As at December 31, 2014

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


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 5.1 787

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



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Mineral Resource Estimates

Resources are exclusive of Reserves

As at December 31, 2014

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


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 - - - 2,323 4.8 356 2,323 4.8 356 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

Clavos (40%) - - - 503 4.8 78 503 4.8 78 318 4.5 48

PDFZ Properties

4,012 4.1 520 31,214 2.1 2,149 35,226 2.4 2,668 14,879 4.6 2,152

TOTAL RESERVES (Company Wide) 5,015 6.0 967 33,803 3.4 3,748 39,038 3.7 4,715 16,796 6.2 3,329



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Notes and Disclosure for Mineral Reserves & Resources

Notes:

• Rows and columns may not add due to rounding

• Property Wide resources under Kirkland Lake Properties include the ’04 & Main Break, SMC, Near Surface Target, as well as

peripheral resources blocks (such as the Lakeshore Ramp).

• The reserve and resource estimates for the Kirkland Lake Properties 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, available on the Company

website at www.klgold.com..

• NI 43-101 Disclosure for the PDFZ Properties (formerly the St Andrew Goldfields Ltd., properties) is included in the Annual

Information Form dated March 27, 2015, available under the St Andrew Goldfields Ltd., profile on www.sedar.com, and references

the various technical reports for each project also available on www.sedar.com.

• The QP’s for the mineral reserves and resources outlined under the PDFZ Properties are Doug Cater P.Geo, and Keyvan Salehi

P.Eng., the VP Exploration and VP Corporate Development and Technical Services of St Andrew Goldfields Ltd., and not

considered independent under NI 43-101





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