Mr. Brian Hinchcliffe reports

KIRKLAND LAKE GOLD ANNOUNCES LISTING OF $69 MILLION CONVERTIBLE DEBENTURES AND ADDITIONAL BLOCK LISTING

Effective Friday, March 8, 2013, the $69-million aggregate principal amount of 7.5-per-cent convertible unsecured subordinated debentures of Kirkland Lake Gold Inc. will be listed for trading on the Toronto Stock Exchange. The debentures were issued under an indenture made as of July 19, 2012, as supplemented by a supplemental indenture made as of Nov. 7, 2012, each between the company and Computershare Trust Company of Canada, as trustee, and will trade under the symbol KGI.DB.A. The debentures, which are issuable in the minimum principal amount of $1,000 each, will be quoted based on $100 principal amounts, with all trades being made in multiples of $1,000.

The debentures mature on Dec. 31, 2017, unless earlier redeemed (such early redemption available after Dec. 31, 2015), and bear interest, accruing, calculated and payable semi-annually in arrears on June 30 and Dec. 31 of each year. The debentures are convertible at the holder's option into common shares of the company at any time prior to the close of business on the earlier of the business day immediately preceding the maturity date and the business day immediately preceding the date fixed for redemption of the debentures, at a conversion price of $13.70 per common share, being a ratio of 72.9927 common shares per $1,000 principal amount of debentures. Conditional approval has been received from the Toronto Stock Exchange for listing of the common shares issuable upon conversion of the debentures.

The debentures rank subordinate in right of payment of principal and interest to all present and future senior obligations of the company and rank pari passu to all present and future unsecured indebtedness.

Block listing

Application has been made to the London Stock Exchange for the block listing of 8,869,829 common shares to trading on Alternative Investment Market to cover:

1. Up to 5,036,496 common shares that may be issued upon conversion of the debentures detailed above;
2. Up to 3,833,333 common shares that may be issued upon conversion of the $57.5-million of convertible unsecured subordinated debentures of the company issued on July 19, 2012, and trading under the symbol KGI.DB, as disclosed in the company's announcements dated July 19, 2012, and Nov. 20, 2012.

The common shares will rank pari passu with the existing common shares in issue and will not be issued immediately but upon exercise of the debentures. It is expected that the block listing will become effective at 8 a.m. (United Kingdom time) on March 11, 2013.

We seek Safe Harbor.