Kirkland Lake Discoveries Announces Positive Results from Soil Sampling and Prospecting in the Abitibi Greenstone Belt

Toronto, September 10, 2024 - Kirkland Lake Discoveries (TSXV: KLDC) (OTC Pink: KLKLF) ("Kirkland Lake Discoveries" or the "Company") is pleased to announce significant results from our recent soil sampling program conducted over the past three months on the KL West project (Figure 1) and KL East project (Figure 2), located northwest and northeast of Kirkland Lake, Ontario. These results have revealed notable geochemical anomalies, suggesting the presence of multiple mineralization styles, including Volcanogenic Massive Sulfide (VMS), Orogenic Gold, and Intrusion-Related Gold Systems (IRGS).

Key Highlights of the Program:

1. Significant Gold and Base Metal Anomalies Identified:

   • Soil sampling has revealed elevated concentrations of gold (Au), with values reaching up to 0.47 ppm, which are considered highly anomalous in this geological setting.

   • These anomalies are further enhanced by their association with silver (Ag), copper (Cu), zinc (Zn), and lead (Pb), elements that indicate the presence of various mineralization styles.

2. VMS Potential:

   • The Blake River Group is one of the most prolific mining districts in the world, with a long and successful history of VMS deposits on the Québec side. It hosts world-class operations such as the Horne Mine (11.6 million oz Au, 2.5 billion lbs Cu, and 13.5 million oz Ag) and the LaRonde Mine (6 million oz Au, 3 billion lbs Zn, 50 million oz Ag, and 700 million lbs Cu), which stand among the largest and most productive mines globally. The success of these operations underscores the extraordinary mineral endowment of the Blake River Group.

   • What makes the Ontario side even more exciting is that, despite being part of the same geologically rich environment, it remains largely underexplored. Geochemical signatures similar to those found at Horne and LaRonde indicate strong potential for significant VMS mineralization. The high concentrations of base metals such as copper, zinc, and lead, further reinforce the untapped potential of the property, offering a unique opportunity to discover the next generation of large-scale deposits in a proven district.

3. Orogenic Gold Potential:

   • The data suggests strong potential for orogenic gold systems, which are typical of the Abitibi Greenstone Belt. Orogenic gold deposits are often associated with major structural zones, and the correlation of gold, silver, and bismuth in these areas supports the presence of this type of mineralization (Figure 4).

   • These structural zones will be targeted in future exploration to assess the depth and extent of the orogenic gold potential.

4. IRGS Potential:

   • Elevated concentrations of bismuth, molybdenum, copper, and tungsten point to the potential for IRGS on the property (Figures 5 & 6). Though less common in the Abitibi region, these elements suggest proximity to felsic intrusions, which could host IRGS mineralization.

   • The presence of multiple mineralization styles enhances the property's potential for significant precious and base metal discoveries.

5. Refining Our Exploration Focus:

   • Clustering analysis has identified specific zones with high concentrations of gold and base metals. These areas will undergo detailed geological mapping, overburden stripping, and targeted drilling to refine and assess the scale of the identified anomalies.

Understanding Prospectivity and its Importance in Exploration:

Prospectivity refers to the potential of a specific area to host economically viable mineral deposits. In this case, soil sample data was used to identify areas with high concentrations of key metals like gold, silver, copper, and zinc. To make this data more understandable, heat maps were created where different colors represent different levels of prospectivity: yellow for values in the top 75th percentile, red for values above the 85th percentile, and hot pink for the highest concentrations, above the 95th percentile. These heat maps were then overlaid on a geology map to highlight areas with the best chances for discovering precious and base metal deposits.

This process helps the exploration team focus on the most promising areas by combining geochemical data with geological structures. High prospectivity means there is an increased likelihood that these areas contain significant mineral deposits. This information guides our next steps including detailed mapping, trenching, and targeted drilling, to maximize exploration efforts.

Figure 1 - B-Horizon Soil Sample Locations on KL West

This map shows the locations of 4,448 B-horizon soil samples collected on the KL West project, with 384 assays still pending. Gaps in the sampling areas are primarily due to unfavourable horizon conditions, such as the presence of till or swamp, which were unsuitable for sampling.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5701/222759_1382bcebb4061adc_001full.jpg

Figure 2 - B-Horizon Soil Sample Locations on KL East

This map displays the locations of 881 B-horizon soil samples collected on the KL East project, providing a detailed overview of the sampling coverage in the area.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5701/222759_1382bcebb4061adc_002full.jpg

Figure 3 - Prospectivity Heat Map Demonstrating VMS Potential on KL West

This heat map highlights areas of high prospectivity for VMS mineralization based on the presence of key elements such as zinc (Zn), lead (Pb), copper (Cu), and nickel (Ni), which are typically associated with VMS deposits. Notably, the areas with the highest prospectivity (shown in hot pink and red) align with magnetic highs identified in the previously flown magnetic geophysics survey. This alignment strengthens the case for VMS potential in these zones, as magnetic anomalies often indicate the presence of sulfide-rich mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5701/222759_1382bcebb4061adc_003full.jpg

Figure 4 - Prospectivity Heat Map Demonstrating Orogenic Gold Potential on KL West

This heat map highlights areas of high prospectivity for orogenic gold systems, with the key elements being gold (Au), silver (Ag), and tellurium (Te). The consistent presence of these elements across the KL West project area underscores that it is a well-mineralized and fertile system. While these anomalies may be related to orogenic processes or other mineralization types, they warrant further investigation. The geological team will ground-truth these hot spots to assess their significance and refine future exploration efforts.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5701/222759_1382bcebb4061adc_004full.jpg

Figure 5 - Prospectivity Heat Map Demonstrating IRGS Potential on KL West

This heat map highlights areas of high prospectivity for IRGS, which are typically characterized by elevated levels of bismuth (Bi), copper (Cu), molybdenum (Mo), and tungsten (W). The hot spots shown on the map are particularly significant due to their proximity to the massive granodiorite-granite intrusion. The margins of such intrusions are often prime zones for mineralization, and further ground-truthing by the geological team will help assess the potential of these targets.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5701/222759_1382bcebb4061adc_005full.jpg

Figure 6 - Heat Map Demonstrating IRGS Prospectivity on KL East

This heat map highlights areas of high prospectivity for IRGS, typically characterized by elevated levels of bismuth (Bi), copper (Cu), molybdenum (Mo), and tungsten (W). The hot spots shown are particularly significant due to their proximity to mafic intrusions, which often host mineralization. The margins of these intrusions are key areas for potential discoveries, and the geological team will conduct ground-truthing to further assess their significance.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5701/222759_1382bcebb4061adc_006full.jpg

Strategic Significance:

The Ontario side of the Blake River Group has historically been underexplored compared to the Québec side, yet it shares the same fertile geological environment. Our recent findings suggest that this area could host significant new discoveries, potentially mirroring the success seen across the provincial border. The combination of VMS, orogenic, and IRGS mineralization signatures presents a unique opportunity to uncover mineral deposits in an area that has largely been overlooked by previous exploration efforts.

Next Steps in Exploration:

1. Detailed Geological Mapping: Further geological mapping will be conducted to pinpoint the structural controls of the mineralization and to integrate the geochemical data with the geological framework of the region.

2. Infill Soil Sampling: Based on the identified anomalies, the Company plans to initiate a targeted infill soil sampling grid to provide increased data resolution in the areas of interest.

3. Trenching and Overburden Stripping: The Company has submitted a plan for overburden stripping and trenching to gain further insight into the surficial geological framework and to better understand the mineralization controls.

4. Targeted Drilling: Following the completion of the previous exploration and continued exploration success, the Company plans to initiate a targeted drilling campaign to test the depth and extent of the identified gold and base metal mineralization zones. This will allow the Company to better understand the geological structures and confirm the potential for economic mineralization.

Stefan Sklepowicz, Interim CEO, commented on the findings: "These results mark a significant step forward for Kirkland Lake Discoveries. The identification of high-potential mineralization styles on the Ontario side of the Blake River Group not only validates our exploration strategy but also opens up the possibility of discovering major new deposits in this underexplored region. We are excited to advance our exploration efforts and are optimistic about the potential for transformative discoveries that could create substantial value for our shareholders."

QP Statement

The technical information contained in this news release has been approved by Mike Kilbourne, P.Geo. who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Kirkland Lake Discoveries Corp.

Kirkland Lake Discoveries Corp. is a TSX Venture Exchange-listed company that has recently consolidated a district-scale, highly prospective land package in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are situated within the Abitibi Greenstone Belt, one of the world's most richly endowed greenstone belts, with over 200 million ounces of gold produced to date.¹

The Company's properties host regional and property-scale mineralized structures, considered second-order structures off the Larder Lake Cadillac Deformation Zone (LLCDZ), a major regional structure known for its spatial association with gold mines in the camp.

The properties assembled by the Company are grouped into two key areas: KL East, which includes the Lucky Strike Property, Arnold Property, and KL Central, and KL West, which encompasses the Goodfish-Kirana and the KL West Properties. KLDC's land position spans approximately 38,000 ha over 1,338 claims and 29 patented claims, making the Company the largest landholder in the Kirkland Lake region.​

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.

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

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