Kirkland Lake Gold Announces Production for its Fiscal 2012 First Quarter
KIRKLAND LAKE, ONTARIO -- (Marketwire) -- 08/10/11 -- Kirkland Lake Gold Inc. (TSX: KGI)(AIM: KGI) ('Kirkland Lake Gold' or the 'Company'), an operating and exploration gold mining company located in Ontario, Canada, is pleased to announce its first quarter production results.
Production for the first quarter of its 2012 fiscal year (May 1 to July 31, 2011) was 25,060 ounces of gold from 57,500 tons of ore grading an average of 0.4521 ounces of gold per ton. All results were slightly above plan and budget.
The Company's Chairman, Harry Dobson, commented, 'We are very satisfied with the results of the first quarter, and we remain on target to meet our goals for production, exploration, and capital projects for this fiscal year.'
Due to this quarter being the first for which the Company will report under IFRS accounting standards, the financial statements and Management's Discussion and Analysis for the first quarter will be released on Wednesday, October 5th, 2011.
About Kirkland Lake Gold Inc.
Kirkland Lake Gold Inc. is a production and exploration gold mining company located in Ontario, Canada. It purchased the Macassa Mine and the 1,500 ton per day mill along with four former producing gold properties - Kirkland Lake, Teck-Hughes, Lake Shore and Wright Hargreaves - in December 2001. These properties, which have historically produced some 22 million ounces of gold, extend over seven kilometres between the Macassa Mine on the west and Wright Hargreaves on the east and, for the first time, are being developed and explored under one owner. This camp is located in the Southern Abitibi Greenstone Belt of Kirkland Lake, Ontario, Canada. The Company's corporate goal is to expand its gold reserves and reduce its operating costs to become a profitable gold producer.
The Company's common shares trade on the TSX (Toronto Stock Exchange) and on the AIM (Alternative Investment Market) of the London Stock Exchange.
The Company's senior management and Board of Directors have extensive experience in the natural resource and mining sectors that include exploration, mining and marketing, as well as experience in the legal and corporate finance areas.
Cautionary Note Regarding Forward Looking Statements
This Press Release may contain statements which constitute 'forward-looking statements' including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers 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, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the Company's periodic filings with he Canadian securities regulatory authorities, including the Company's Annual Information Form and quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR 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.
Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
Kirkland Lake Gold Inc.
Brian Hinchcliffe
President
1 705 567 5208
1 705 568 6444 (FAX)
bhinchcliffe@klgold.com
Kirkland Lake Gold Inc.
Lindsay Carpenter
Director of Investor Relations
1 416 840 7884
1 705 568 6444 (FAX)
lcarpenter@klgold.com
www.klgold.com
Pelham Bell Pottinger
Lorna Spears / Philippe Polman
44 (0) 20 7861 3232
lspears@pelhambellpottinger.co.uk
Ocean Equities Ltd.
Guy Wilkes
44 (0) 207 786 4370
guy.wilkes@oceanequities.co.uk
NOMAD: Panmure Gordon (UK) Ltd.
Katherine Roe / Callum Stewart
44 (0) 20 7459 5744
katherine.roe@panmure.com