Mr. Anthony Makuch reports

KIRKLAND LAKE GOLD ACQUIRES SHARES OF OSISKO MINING INC.

Kirkland Lake Gold Ltd. has acquired 14,705,882 common shares of Osisko Mining Inc. by way of a private placement financing at a price of $1.70 per share for a total cash payment of approximately $25-million.

Prior to the investment, Kirkland Lake Gold held 17,921,750 shares, representing approximately 8.58 per cent of the outstanding shares on a non-diluted basis. As of the date hereof, after giving effect to the investment, the company beneficially owns 32,627,632 shares, representing approximately 13.61 per cent of the currently issued and outstanding shares on a non-diluted basis. All of the securities issued in the private placement financing are subject to a statutory hold period expiring on Jan. 19, 2019.

Tony Makuch, president and chief executive officer of Kirkland Lake Gold, commented: "Our strategic investment in Osisko increases our ownership interest in the Urban Barry area of northwestern Quebec, which we believe has become a new, highly prospective mining camp in the prolific Abitibi greenstone belt. The investment is complementary to our existing interests in Metanor Resources Inc. and Bonterra Resources Inc., both of which have high-potential exploration holdings in the same area. In addition, through the investment in Osisko, we gain exposure to attractive, early-stage exploration properties in close proximity to our Holt and Taylor mines, providing additional value potential around our existing asset base in Ontario."

The shares were acquired for investment purposes. Kirkland Lake Gold has a long-term view of the investment and may acquire additional securities either on the open market or through private investments or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

This press release is being issued pursuant to National Instrument 62-103 (the Early Warning System and Related Take-Over Bid and Insider Reporting Issues), which also requires a report to be filed with the regulatory authorities in each jurisdiction in which the issuer is a reporting issuer containing information with respect to the foregoing matters. A copy of the early warning report will be filed on the issuer's profile on SEDAR and may also be obtained by contacting the company at 416-840-7884 or by e-mail at info@klgold.com.

About Kirkland Lake Gold Ltd.

Kirkland Lake Gold is a mid-tier gold producer that, in 2018, is targeting over 635,000 ounces of gold production from mines in Canada and Australia. The production profile of the company is anchored from two high-grade, low-cost operations, including the Macassa mine located in Northeastern Ontario and the Fosterville mine located in the state of Victoria, Australia. Kirkland Lake Gold's solid base of quality assets is complemented by district-scale exploration potential, supported by a strong financial position with extensive management and operational expertise.

We seek Safe Harbor.