Toronto, Ontario--(Newsfile Corp. - April 23, 2026) - Kirkland Lake Discoveries Corp. (TSXV: KLDC) (OTCQB: KLKLF) ("KLDC" or the "Company") is pleased to announce assay results from its ongoing 2026 diamond drilling program at the past-producing Mirado property, located 20 km southeast of Kirkland Lake, Ontario.

Highlights

KLM26-002

• 1.01 g/t Au over 121 m from 11 m to 132 m, including:
  • 4.61 g/t Au over 3.2 m from 15.2 m
  • 3.63 g/t Au over 12.8 m from 69.7 m
    • (including 7.41 g/t Au over 4.8 m from 74.2 m)

• 75-m step out from hole KLM26-001
• Broad zone of continuous mineralization
• 732-m hole tests Induced Polarity (IP) anomaly
• Eight holes pending using Chrysos PhotonAssay™ for expedited results

The second drill hole, targeting the South Zone at Mirado, stepped out 75 m southeast of KLM26-001 and confirms continuous mineralization with 1.01 g/t Au from 11.0 m to 132.0 m, including a high-grade interval of 7.41 g/t over 4.8 m from 74.2 m (see Figure 1). Eight additional drill holes have been completed with assays pending, representing a steady flow of near-term results (see Figure 2). Two holes test the north zone and eight holes test the southern extent of mineralization as well as the deep IP anomaly beneath the historical deposit. This hole follows up on KLM26-001/001B that intersected 103 m of continuous mineralization including 5.66 g/t over 18.7 m (see April 16 news release).

Chief Executive Officer, Stefan Sklepowicz, commented, "We are continuing to see broad mineralization within our second hole at the South Zone of Mirado. These results reinforce our geological model and show the robust nature of this system. Our team continues to execute this drill program with efficiency and we highly anticipate the results from the remaining eight holes."

Executive Chairman, Denis Laviolette, commented, "With highly anticipated results still coming, the assay histogram shows the story here. This is an extremely large, prolific system of widespread gold. This is a rarity in the Abitibi and with today's metal prices this presents a compelling reframing of the deposit scale and economic viability of this project."

Figure 1 - Drill core from KLM26-002: A - From 61.26 m to 78.28 m broad mineralization including high-grade intervals within intermediate lapilli tuff. B - From 74.92 m to 75.16 m pyrite replacement in vein. C - At 130 m semi-massive chalcopyrite. 

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Figure 2 - Drill collar locations at Mirado property. KLDC is systematically testing the lateral and depth extents of the South Zone as well as testing mineralization in the North Zone. High-grade surface grab samples were not systematically tested and represent a significant resource expansion opportunity. Historical workings are shown in white where exploration drifting was completed into the South Zone in the late 1980s. Commercial production did not commence due to the stock market crash in 1987.

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Mineralization Style and Geological Context

Mineralization reported herein is associated with the South Zone and is hosted within intermediate volcanic units, characterized by quartz-carbonate stringer systems with 1-5% disseminated pyrite and strong local vein replacement (up to 90%). Alteration is dominated by pervasive chlorite-carbonate with localized sericite and silicification, and minor chalcopyrite occurs in more strongly altered intervals, reflecting a structurally controlled vein and stringer system within a broadly altered volcanic host (see Table 1 and Figure 3).

The Mirado system comprises two complementary styles of gold mineralization. The South Zone consists of high-grade, structurally controlled quartz-carbonate-chlorite vein arrays within broader lower-grade envelopes, while the North Zone hosts semi-conformable, stratigraphically controlled sulphide mineralization within felsic volcaniclastics, which remains a focus of ongoing drilling.

Current results confirm the continuity of historically defined mineralization and demonstrate consistent downhole continuity, supporting the Company's evolving geological model and highlighting strong potential for expansion along strike and at depth.

Table 1 - Drill Results

Reported intervals are calculated using a weighted average grade with a 0.2 g/t Au cutoff. To reflect the continuity of mineralization within the broader system, up to 3.0 metres of internal dilution (consecutive material below cutoff) is included within reported composites. No top-cutting has been applied to high-grade results. True widths are estimated at approximately 80% of the reported core length intervals. Assays are uncut except where indicated.

Figure 3 - Samples contained anomalous gold to downhole depth of 132 m.

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Deep IP Anomaly Test

The deepest hole drilled to date at the Mirado Project, KLM26-007, reached a downhole depth of 732 m and was designed to test a prominent IP resistivity low anomaly interpreted to extend beneath and down plunge of the South Zone mineralization (see Figure 4).

The anomaly forms a coherent feature aligned with the projected plunge of the South Zone and may reflect increased alteration, structural complexity, and/or sulphide development at depth. Historical drilling was largely limited to depths above ~150 m, leaving this feature untested.

Ongoing drilling is designed to determine whether this anomaly represents down-plunge continuation of the mineralized system or a broader alteration envelope associated with the structural controls of the South Zone. Results from KLM26-007, along with subsequent deep drilling, will be critical in determining the significance of this feature and its relationship to the overall mineralizing system at Mirado.

Figure 4 - 2026 drill traces and IP resistivity low anomaly beneath historical drilling looking west

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Progress Update and Next Steps

Results from the initial holes of the 2026 drill program, including KLM26-002, confirm broad zones of continuous gold mineralization within the South Zone and support the lateral and vertical continuity of the system. Drilling has also begun to test the North Zone and deeper targets, including the IP anomaly beneath the South Zone, where historical drilling was limited.

These results are being integrated into an evolving 3D geological model, improving the Company's understanding of structural controls and mineralization trends.

Ongoing drilling will continue to focus on step-out targeting along strike and at depth, while systematically evaluating the down-plunge potential of the South Zone and testing geophysical targets, including the deep IP anomaly. Additional drilling will prioritize increasing data density to support future resource modeling.

To further enhance targeting across the broader KL South property, the Company is planning a MobileMT geophysical survey to provide district-scale coverage and refine structural and lithological interpretations across the entire project area.

To support efficient assay turnaround and improved analytical reliability, KLDC has implemented Chrysos PhotonAssay™ technology through Paragon Geochemical.

By operating in a safe, mining friendly jurisdiction with a focused exploration program, Kirkland Lake Discoveries Corp. is advancing Mirado toward a modern, well-defined gold asset in the Abitibi Greenstone Belt.

Data Verification & Quality Assurance/Quality Control (QA/QC)

Gold analyses were completed at Paragon Geochemical using Chrysos PhotonAssay™ technology, a fast, non-destructive analytical method that utilizes high-energy X-rays to directly measure gold content in large (~500 g) samples. This approach improves analytical precision and reduces the impact of coarse gold ("nugget effect") compared to traditional fire assay methods, while also enabling faster turnaround times.

Drill program design, QA/QC, 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 twenty samples, to monitor analytical accuracy and precision.

Reported intervals are calculated using a weighted average grade with a 0.2 g/t Au cutoff. To reflect the continuity of mineralization within the broader system, up to 3.0 m of internal dilution (consecutive material below cutoff) is included within reported composites. No top-cutting has been applied to high-grade results. True widths are estimated at approximately 80% of the reported core length intervals. Assays are uncut except where indicated.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Benjamin Cleland, P.Geo., 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 Discoveries Corp. (TSXV: KLDC) (OTCQB: KLKLF) has assembled a 420-km² 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 now in place, KLDC is positioned to advance a strong pipeline of drill-ready targets at KL South, KL West and KL East, supported by multiple anomalous soil trends, historical mineral showings, and structurally controlled intersections.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's 2026 drilling program, the expansion of high-grade zones, the validation of historical data, and the potential for a mineral resource. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the results of exploration and drilling activities; the reliability of historical data; the price of gold and other commodities; and general economic, market or business conditions. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

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