Mr. Stefan Sklepowicz reports

KIRKLAND LAKE DISCOVERIES CONFIRMS AND EXPANDS SYENITE-HOSTED GOLD MINERALIZATION AT WOLVERINE BEND

Kirkland Lake Discoveries Corp. has provided an update on its continuing, fully financed 25,000-metre diamond drilling program at its KL West property in the Kirkland Lake region of Ontario.

Recent drilling and associated geochemical results have confirmed altered syenite intrusions as a primary control on gold mineralization at the Wolverine Bend target. These results validate the company's exploration model and significantly expand the interpreted scale and style of intrusion-related gold mineralization along the Winnie Lake stock contact corridor.

Multiple mineralizing systems confirmed

At the Winnie Lake target, drilling has intersected a vertically zoned, structurally controlled hydrothermal system, characteristic of long-lived Archean mineralizing events. This system supports a gold-copper mineralization style developed within and below the massive sulphide horizon, indicating prolonged and multiphase hydrothermal activity.

Taken together, results from Wolverine Bend and Winnie Lake demonstrate that multiple gold-bearing and polymetallic mineralizing systems are present within a two-kilometre segment of the 17-kilometre-long WLS contact corridor, underscoring the district-scale exploration potential of KL West.

Drilling highlights

Wolverine Bend:

• Broad, low-grade gold mineralization accompanied by elevated bismuth and copper, consistent with system-scale mineralization;
• Confirmation of gold vectoring within visually altered syenite, supported by elevated geochemical elements characteristic of fertile intrusion-related gold systems;
• Results reinforce potential for both large-volume and low-grade gold mineralization targets.

Winnie Lake:

• Intersections of a vertically zoned hydrothermal architecture, ranging from copper-rich breccias to altered volcanic root zones;
• Strong hematite alteration associated with peak sulphide emplacement, interpreted as representing zones of enhanced metal deposition.

"Drilling is consistently showing that gold and copper mineralization at KL West is closely linked to syenite intrusions and the structures they exploit within the Blake River group. This is significant because parts of the Blake River group become most prospective where early volcanic-hosted sulphide systems are later overprinted by intrusion-related hydrothermal activity. At KL West, we are seeing that overlap expressed through copper-rich breccias, gold-bearing alteration and strong structural control. Although we are still early in this 25,000-metre program, this emerging geological framework gives us confidence that we are vectoring toward more concentrated zones of mineralization as drilling continues," said Stefan Sklepowicz, chief executive officer.

Program overview and progress

Since mobilization in late November, drilling has progressed steadily along the WLS contact corridor, targeting structurally controlled zones interpreted to host both intrusion-related gold mineralization and copper-rich massive sulphide systems.

Drilling metrics to Jan. 17, 2026, include:

• Total metres drilled: 4,409 metres;
• Number of completed holes: 13;
• Average hole depth: 340 m;
• Drill rigs active: one rig active since early December, 2025; a second rig commenced Jan. 12, 2026.

Core logging, geological interpretation and sampling are continuing, with samples being prepared for submission to accredited laboratories. The company will report analytical results once received and validated.

Target area updates

Wolverine Bend

Drilling at Wolverine Bend is designed to follow up on previously identified mineralization and to test structural and lithological controls along the WLS margin. Initial drilling has confirmed the presence of altered syenite intrusions, mafic volcanic units and intrusive-volcanic contact zones affected by silica, hematite, carbonate and localized potassic alteration.

Geochemical results demonstrate widespread low-level gold values accompanied by elevated bismuth and copper, a signature consistent with the outer to intermediate zones of a fertile intrusion-related gold system. The spatial association of gold with hematite alteration further supports a magmatic-hydrothermal contribution to mineralization and highlights the potential for a larger alteration-hosted system.

Winnie Lake target area

Drilling at the Winnie target area is focused on testing the WLS contact corridor and following up on previously identified quartz-sulphide veining and geophysical anomalies.

Recent drilling has intersected a vertically zoned hydrothermal system, with upper intervals characterized by brecciated and silica-flooded intrusive-volcanic contact zones hosting chalcopyrite-dominant sulphide mineralization and associated hematite alteration. These zones are interpreted to represent peak metal deposition and remobilization within a copper-rich hydrothermal breccia system.

Downhole, mineralization transitions into brecciated chlorite-epidote altered mafic intrusive with quartz-carbonate veining and reduced sulphide content, interpreted as deeper brittle structural and alteration system. This vertical architecture is consistent with multiphase Archean hydrothermal systems observed elsewhere in the Kirkland Lake camp.

These results complement previously reported syenite-hosted contact mineralization intersected in drill hole KLD25-31 (released Oct. 27, 2025), and surface sampling returned 0.035 gram per tonne gold, 12.75 g/t silver, 1,395 parts per million copper and 1,235 ppm bismuth (released July 9, 2025). Collectively, drilling and geochemical results reinforce the interpretation of a fertile intrusive-contact-controlled mineralizing system with potential for copper-rich mineralization and associated gold along favourable structural corridors.

Nine Mile area

Kirkland Lake plans to drill test a 1.5-square-kilometre intrusion-related gold soil anomaly along the northwestern margin of the WLS. This anomaly is characterized by elevated gold-bismuth-copper-molybdenum-tungsten values and is coincident with electromagnetic conductivity anomalies and zones of magnetic destruction and geophysical signatures commonly associated with hydrothermal alteration surrounding mineralized intrusive systems.

Next steps

The company has received all required drilling permits for the Kirkland Lake West region, allowing drilling to proceed across multiple high-priority geophysical and geochemical targets, including the Amikougami Lake shear zone and the Leahy-Queenston target area. Concurrently, drilling will continue at the Nine Mile and Winnie Lake target areas to further evaluate and refine the extent of mineralization. The company also plans to return to the Wolverine Bend area to follow up on and extend previously identified mineralization.

Quality control statement

True widths are estimated at approximately 65 to 80 per cent of the reported core length intervals. Assays are uncut except where indicated. All NQ drill core samples were analyzed at ALS Laboratories in Ontario, Quebec and British Columbia.

Gold analyses were completed using industry standard fire assay methods with atomic absorption finish, with selected samples reanalyzed using gravimetric methods where warranted. Multielement analyses were conducted using industry standard ICP-AES and ICP-MS techniques. Selected intervals were also analyzed using portable X-ray fluorescence for rapid multielement screening and geological interpretation; pXRF results are considered semi-quantitative and are not used for reporting compliant assay results.

Drill program design, quality assurance/quality control and interpretation of results were conducted by qualified persons employing a QA/QC program consistent with National Instrument 43-101 and industry best practices. Certified reference standards and blanks were inserted into the sample stream at regular intervals, approximately one control sample per 20 samples, to monitor analytical accuracy and precision.

Qualified person

The technical information contained in this news release has been reviewed and approved by Benjamin Cleland, PGeo, vice-president, exploration, who is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Kirkland Lake Discoveries Corp.

Kirkland Lake has assembled a 400-square-kilometre exploration portfolio in the Kirkland Lake region of Ontario's Abitibi greenstone belt, one of the most prolific mining districts in the world. The company's properties span key fault zones, geophysical anomalies and volcanic-sedimentary contacts within the Blake River group, a highly prospective assemblage known to host both gold and polymetallic massive sulphide deposits.

With exploration permits in place, Kirkland Lake is positioned to advance a strong pipeline of drill-ready targets at KL East and KL West, supported by multiple anomalous soil trends, historical mineral showings and structurally controlled intersections. The team combines strong technical experience with a focus on smart, efficient exploration designed to deliver results.

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