Warrior Gold Inc. Announces Completion of Name Change to Kirkland Lake Discoveries Corp. and Share Consolidation

Not for distribution to United States news wire services or for dissemination in the United States

Kirkland Lake Discoveries Corp. (formerly, Warrior Gold Inc.) (the "Company") (TSXV - KLDC) is pleased to announce that it has changed its name from "Warrior Gold Inc." to "Kirkland Lake Discoveries Corp." (the "Name Change") and consolidated its outstanding common shares on the basis of one (1) new common share for every four (4) existing common shares (the "Consolidation").

Each shareholder's percentage ownership in the Company and proportionate voting power will remain unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of any fractional common shares. The exercise price and the number of the Company's outstanding Common Share purchase warrants and Common Shares issuable thereunder have been adjusted in accordance with the Consolidation.

Letters of transmittal with respect to the Name Change and Consolidation will be mailed out to the Company's registered shareholders. All registered shareholders will be required to send their share certificates, along with a properly executed letter of transmittal, to the Company's registrar and transfer agent, Olympia Trust Company, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their Common Shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary for assistance in depositing their Common Shares in connection with the Name Change and Consolidation. A copy of the letter of transmittal will be posted on the Company's issuer profile on SEDAR at www.sedar.com.

Additionally, due to increased investor interest in the previously announced private placement of subscription receipts of the Company (the "Offering"), the expected closing date of the Offering and the proposed acquisition of the Lucky Strike property from New Found Gold Corp. (see February 22, 2023, April 18, 2023, and May 8, 2023 press releases) (the "Transaction") is expected to be on or about May 25, 2023.

About Kirkland Lake Discoveries Corp.

The Company is a TSX Venture Exchange-listed company that has consolidated significant and prospective land packages in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are hosted in the Abitibi Greenstone Belt, one of the world's best-endowed greenstone belts with +200 million ounces of gold produced to date¹. The properties are host to regional and property-scale mineralized structures that are considered to be second order structures off the Larder Lake Cadillac Deformation Zone - LLCDZ - the regional structure in the belt known to be spatially associated with the gold mines hosted in the camp.

The properties assembled include: the 100%-owned Goodfish-Kirana, the Arnold property and the optioned KL West (KLW) and KL Central (KLC). The Company's land position in the Kirkland Lake Gold Camp comprises approximately 25,000 ha, over 617 claims and 29 patented claims and ranks the company as one of the largest landholders in the Kirkland Lake region.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Offering or the proposed Transaction and has neither approved nor disapproved the contents of this news release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the completion of the Offering and the Transaction. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company's management, there can be no assurance that the Offering or the Transaction will occur, or that if any such transaction does occur, it will be completed on the terms described in the Company's in this news release and its news release dated February 22, 2023, April 18, 2023, and May 8, 2023, except as updated in this news release.

Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the receipt of all necessary regulatory approvals and satisfaction of other conditions to the completion of the Offering and the Transaction, availability of necessary financing, potential mineralization on the Company's mineral projects, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title and environmental risks.

The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

¹ https://www.agnicoeagle.com/English/exploration/exploration-projects/Kirkland-Lake-project/default.aspx

View source version on businesswire.com: https://www.businesswire.com/news/home/20230515005289/en/

For additional information please contact:

Danièle Spethmann, P.Geo.
President & CEO
Kirkland Lake Discoveries Corp.
+1 647 344-3433
dspethmann@warriorgoldinc.com