Kirkland Lake Discoveries Announces Retirement of Founder, President & CEO

Toronto, May 15, 2024 - Kirkland Lake Discoveries (TSXV: KLDC) (OTC Pink: KLKLF) ("Kirkland Lake Discoveries" or the "Company") today announced a strategic transition, effective immediately, with the retirement of Founder, President, and CEO, Ms. Danièle Spethmann from her role as President, CEO and as a director of the Company. This change comes as a mutual decision and Ms. Spethmann will act as a Strategic Advisor for the Company going forward. The Board and Management Team thank Ms. Spethmann for her significant contributions and look forward to her continued guidance in shaping the strategic direction of the Company. Stefan Sklepowicz, Vice President of Corporate Development, will take over as Interim CEO.

Ms. Spethmann, who has been at the helm of Kirkland Lake Discoveries since 2015, has successfully expanded the Company's consolidated land package in Kirkland Lake from 3,800 hectares to over 38,000 hectares. Her leadership has been pivotal in positioning the Company with the largest prospective land package in the historical gold camp of Kirkland Lake, Ontario, Canada.

Reflecting on her tenure, Ms. Spethmann said, "It has been an incredible journey leading the company during my tenure. I am immensely proud of what we have accomplished together, and I look forward to continuing to contribute to the Company's success as a Strategic Advisor."

About Kirkland Lake Discoveries Corp.

Kirkland Lake Discoveries Corp. is a TSX Venture Exchange-listed company that has recently consolidated a district-scale and highly prospective land package 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 date.¹ The properties are host to regional and property-scale mineralized structures that are considered 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 Lucky Strike Property, Arnold Property, KL Central, Goodfish-Kirana, and the optioned KL West Properties. The KLDC land position comprises approximately 38,000 ha, over 1,338 claims, and 29 patented claims and ranks the Company as the largest landholder in the Kirkland Lake region.

For additional information, please contact:

Stefan Sklepowicz
Interim CEO
www.kirklandlakediscoveries.com
+1 226 979 3515
stefan@kirklandlakediscoveries.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of Kirkland Lake Discoveries, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's three-phase drill program, the results thereof, and any impact therefrom. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Kirkland Lake Discoveries, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, changes in general economic, market and business conditions, and the ability to obtain any requisite approvals. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Kirkland Lake Discoveries does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

¹ Canada's Gold Exploration Frontier: The Abitibi Greenstone Belt - https://www.visualcapitalist.com/sp/canadas-gold-exploration-frontier-the-abitibi-greenstone-belt/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209209