Ms. Daniele Spethmann reports

KIRKLAND LAKE DISCOVERIES COMPLETES INAUGURAL DRILL PROGRAM AT HURRICANE INTRUSIVE ZONE, ANNOUNCES BOARD CHANGE

Kirkland Lake Discoveries Corp. has completed its phase 2 drill program safely and efficiently at the Hurricane intrusive zone on the Lucky Strike property. A total of 13 drill holes aggregating 3,376 metres were drilled at six targets, completing the second of three phases previously announced (see July 20, 2023, news release).

The Hurricane intrusive zone, which was the subject of prospecting, mapping , and airborne magnetics in 2023, is a geophysical anomaly with copper and gold mineralization associated with intense alteration from syenite intrusive bodies. The drill program was designed to test the geology and assess the continuity of mineralization observed in outcrop during the summer mapping and prospecting programs.

The Hurricane intrusive zone bears similarity to the rocks and mineralization found at Agnico Eagle Mines Ltd.'s Upper Beaver deposit, which is six kilometres to the southwest. Upper Beaver is a gold-copper deposit that is mainly hosted in the Upper Beaver alkalic intrusive complex and the surrounding basalts it intruded. It is associated with disseminated pyrite and chalcopyrite, and magnetite-sulphide veining associated with strong magmatic-hydrothermal alteration. The mineralization occurs as elongated tabular bodies that strike northeast, dip steeply northwest and plunge 65 degrees to the northeast. The mineralization has been defined along a 400 m strike length from the surface to a depth of 1,800 m and remains open at depth.

Queenston Mining Inc. sold the 1.1-million-ounce (Moz) deposit to Osisko Mining Corp. for $550-million in 2012. Osisko, in turn, sold the project to Agnico in 2014 and Agnico has since expanded the resource at Upper Beaver. As at Dec. 31, 2022, Upper Beaver had approximately 1.4 Moz of gold and 20,000 tonnes (t) of copper in underground probable mineral reserves (eight Mt grading 5.43 grams per tonne gold and 0.25 per cent copper); 403,000 oz of gold and 5,100 t of copper in underground indicated mineral resources (3.6 Mt grading 3.45 g/t Au and 0.14 per cent copper); and 1.4 Moz Au of gold and 17,300 t of copper in underground inferred mineral resources (8.7 Mt grading 5.07 g/t Au and 0.20 per cent copper). An updated mineral resource for the Upper Beaver deposit was expected in late 2023 but has yet to be released.

Board changes

The company also announces that Steve Burleton has resigned as director of the company, effective March 29, 2024. The company thanks Mr. Burleton for his invaluable contribution and wishes him success in his future endeavours.

Qualified person statement

Daniele Spethmann, PGeo, founder, president, chief executive officer and 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 over 200 Moz of gold produced to date. The properties are host to regional- 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 Lucky Strike property, Arnold property, KL Central, Goodfish-Kirana and the optioned KL West properties. The Kirkland Lake 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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