Mr. Anthony Makuch reports

KIRKLAND LAKE GOLD ADDRESSES MARKET RUMOURS

Kirkland Lake Gold Inc. has acknowledged certain news stories have appeared that have created rumours in the market and, at the request of the Investment Industry Regulatory Organization of Canada, has made the following comment.

As disclosed in the joint management information circular of Kirkland Lake Gold and Newmarket Gold Inc., Kirkland Lake Gold received a joint, unsolicited, written acquisition proposal and a revised acquisition proposal prior to the mailing the circular. The company also acknowledges it recently received a further revised acquisition proposal with an expressed notional value of $1.44-billion payable in cash and shares of Silver Standard Resources Inc. All of these proposals were made on a joint basis by Gold Fields Netherlands Services BV and Silver Standard Resources.

The company's board of directors and special committee have determined, after receiving advice from their legal advisers and three separate financial advisers, that the revised proposal was not financially superior to the Newmarket transaction. In particular, the company's board and the special committee concluded that even if the ascribed value of the revised offer could be substantiated following an assessment of the value of the Silver Standard shares, the revised proposal was not financially superior to the Newmarket transaction. As a result, Kirkland Lake Gold is precluded by the terms of the arrangement agreement with Newmarket from engaging in any discussions with Gold Fields or Silver Standard concerning the revised proposal or providing any due diligence access to them.

The Kirkland board and special committee continue to believe that the Newmarket transaction is in the best interests of Kirkland Lake Gold and its shareholders and strongly recommend that Kirkland shareholders vote in favour of it. The company's rationale for this view and for rejecting the proposals are clearly articulated in the circular sent to Kirkland shareholders.

Kirkland shareholders should also be aware that, as disclosed in the circular, Gold Fields and Silver Standard are precluded from proceeding with any transaction that is not supported by the Kirkland board.

How to vote

Shareholders must vote their proxy before 10 a.m. (Toronto time) on Nov. 23, 2016.

Kirkland Lake Gold shareholders with questions or need help voting are encouraged to contact Kingsdale Shareholder Services at 1-877-659-1824 toll-free within North America or 1-416-867-2272 (for collect calls outside North America) or e-mail at contactus@kingsdaleshareholder.com.

About Kirkland Lake Gold

Kirkland Lake Gold is a Canadian-focused, intermediate gold producer with assets in the historic Kirkland Lake gold camp and east of the Timmins gold camp, along the Porcupine-Destor fault zone, both in Northeastern Ontario. The company is currently targeting annual gold production of between 280,000 ounces to 290,000 ounces from its cornerstone asset, the Macassa mine complex, and the Holt mine complex, which includes the Holt, Holloway and Taylor mines.

We seek Safe Harbor.