Ms. Daniele Spethmann reports

KIRKLAND LAKE DISCOVERIES COMMENCES 10,000-M DRILL PROGRAM

Kirkland Lake Discoveries Corp. has commenced the summer 2023 drill campaign at the Kirkland Lake project. The 10,000-metre drill program is planned over three phases and has been initiated at the Goodfish-Kirana property to follow up on the fall 2021 program that intersected visible gold and returned an assay of 72.10 grams per tonne gold over 0.5 metre (see Dec. 24, 2021, news release).

The 10,000-metre drill program will be divided into three phases:

• Phase 1 -- approximately 3,000 metres on the Goodfish-Kirana property;
• Phase 2 -- approximately 4,000 metres on the Lucky Strike property;
• Phase 3 -- approximately 3,000 metres to follow up on phase 1 and phase 2 drilling.

The focus of this first phase of drilling will be to follow up on previous successes at the Jo zone and to test new targets defined by key structural intersections that have recently been identified from geophysical surveys, corresponding structural interpretation and geological analysis.

"Our 2021 drill campaign finished with a fantastic assay at the Jo zone that included visible gold at a vertical depth of 301 metres (72.1 grams per tonne gold over 0.5 metre reported, the other half of core assayed 561 grams per tonne gold). We will follow up on the downdip extension of this mineralization as well as test the mineralized footprint of the Jo zone. Our 2023 diamond drill program is our largest program to date, and we are excited to be following up at Jo zone as well as testing other promising targets," commented Daniele Spethmann, president and chief executive officer.

In addition to a downdip stepout of the Jo zone, new targets to be tested include:

• The Sutton break is a large (500-plus-metre strike length) area that remains untested along the Kirana break structure, which is now recognized to coincide with the intersection of prominent northwest-trending structures and a strong chargeability high at depth. Early 2023 fieldwork identified a strongly silicified and pyritized mafic volcanic unit, the samples of which returned elevated gold assays.
• The Kirana break extension is targeting a large zone of demagnetization that correlates to a strong induced polarization (IP) response. New structural interpretation suggests a major northwest-trending structure, associated with the Jo zone, that extends to the southeast and intersects the regional Kirana break structure.
• The Eastern IP target is an untested strong IP response at depth within a folded volcanic sequence.
• The Chorzepa target drill holes are planned to undercut historical trenches that returned up to 14.75 grams per tonne gold. A previous IP (induced polarization) geophysical survey indicates the presence of a broad chargeability anomaly at depth hosted within an intermediate volcanic unit.

As phase 1 diamond drilling gets under way, additional structural interpretation has begun on the recently completed M-Pass high-resolution airborne magnetic survey data from the Lucky Strike property. A field crew is presently mapping and prospecting on the Lucky Strike property to better define targets for the phase 2 diamond drill program.

Ms. Spethmann stated: "We have boots on the ground advancing targets at the Lucky Strike property, and our drill team has successfully mobilized to the Goodfish-Kirana property after a short delay because of fire bans across the region. We've been developing our exploration drill program with a new team and a fresh approach and are excited to advance our geological understanding of this newly consolidated district-scale project."

Qualified person statement

Daniele Spethmann, PGeo, president and chief executive officer and a director of the company, is a qualified person as defined by National Instrument 43-101. Ms. Spethmann has reviewed the technical information in this news release and approves the written disclosure contained herein.

About Kirkland Lake Discoveries Corp.

Kirkland Lake Discoveries 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 more than 200 million ounces of gold produced to date. The properties are host to regional-scale 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 100-per-cent-owned Lucky Strike property, Goodfish-Kirana, the Arnold property, and the optioned KL West (KLW) and KL Central (KLC) properties. The KLDC land position comprises approximately 38,000 hectares over 1,338 claims and 29 patented claims and ranks the company as the largest landholder in the Kirkland Lake region.

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