Kl gold presentation march 29, 2017

March 29, 2017

INVESTOR PRESENTATION

KLGOLD.COMTSX: KL

OTCQX: KLGDF

TIER ONE GOLD PRODUCTION | DISTRICT SCALE EXPLORATION | VALUATION UPSIDE

1

KLGOLD.COMTSX:KLFORWARD LOOKING STATEMENTS

Cautionary Note Regarding Forward-Looking Information

This presentation contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of KL Gold with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and include information regarding: (i) the amount of future production over any period; (ii) assumptions relating to revenues, operating cash flow and other revenue metrics set out in the Company's disclosure materials; and (iii) future exploration plans.

Specifically, this news release contains forward-looking statements regarding, among other things, forecast gold production of between 500,000 and 525,000 ounces in 2017; estimated 2017 total operating costs between $625 and $675 per ounce; estimated 2017 all-in sustaining costs of between $950 and $1,000 per ounce sold; and growth exploration expenditures between $45 million to $55 million. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect KL Gold's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although KL Gold believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among the key factors that could cause actual results to differ material ly from those projected in the forward-looking information are the following: the ability of KL Gold to successfully integrate the operations and employees of its Canadian and Australian operations, and realize synergies and cost savings, and to the extent, anticipated; the potential impact on exploration activities; the potential impact on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; the re-rating potential following the consummation of the merger; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation. This forward-looking information may be affected by risks and uncertainties in the business of KL Gold and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Kirkland Lake Gold and Newmarket with the Canadian securities regulators, including Kirkland Lake Gold's and Newmarket's respective annual information form, financial statements and related MD&A for the financial year ended December 31, 2015 and their interim financial reports and related MD&A for the period ended December 31, 2016 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although KL Gold has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. KL Gold does not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

All dollar amounts in this presentation are expressed in U.S. Dollars unless otherwise noted.

Use of Non-GAAP Measures

This Presentation refers to average realized price, operating costs, all-in sustaining costs per ounce of gold sold, free cash flow and cash costs of production because certainreaders may use this information to assess the Company’s performance and also to determine the Company’s ability to generate cash flow. This data is furnished to provideadditional information and are non-GAAP measures and do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”). Thesemeasures should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and are not necessarily indicative of operating costspresented under IFRS. Refer to each Company’s most recent MD&A for a reconciliation of these measures.

http://www.sedar.com/

KLGOLD.COMTSX:KLWHY INVEST IN KL GOLD?

1. Refer to Slide 2 “Forward Looking Information” 2017 estimated production guidance 500,000 – 525,000 ounces 2. Refer to appendix for NI 43-101 Disclosure and News Release dated March 27, 2017 for additional year-end 2016 Mineral Reserves and Resources detail 3.Cash position as at Dec 31, 2016, 2016 4. See Non-GAAP Measures sections in forward looking statements; Operating Cash Costs per ounce and AISC per ounce reflect an aver age USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28, for additional detail see Kirkland Lake Press release dated Feb 27, 2017 for additional detail. 5. Source: Company filings, FactSet and available equity research at Mar 24, 2017. Production and Cash Flow are broker consensus averages exclude Kirkland Lake.

1

3

5.9

8.6

KL Gold Peer Average

$2,714

$4,873

KL Gold Peer Average

Operating Platform in Tier 1 Mining Jurisdictions

Strong Balance Sheet & Low Cost Production

Distr ict Scale Exploration Potential

Strong Value Proposition 5

Enterprise value to ounce of 2017

production

2017 Price to Cash flow

• 2017 guidance of ~ 525,0001 ounces from five gold mines in Canada & Australia

• Macassa Mine (FY/16 175koz) & Fosterville Mine (FY/16 151koz) record results

• Macassa Mineral Reserve increased 37% to 2.0 million oz grading 20.8 g/t Au 2

• Fosterville Mineral Reserve increased 66% to 643,000 oz grading 9.2 g/t Au 2

• Cash Position US$235 million3

• Consolidated 2016 full year operating cost US$571/oz and AISC US$923/oz and Q4/16 operating cost US$533/oz and AISC US$883/oz4

• Significant discovery and expansion potential in established gold camps

• +20 drill rigs in operation across Canada & Australia

• 2017 growth exploration budget of US$45 - $55 million

KLGOLD.COMTSX:KLOPERATING PLATFORM IN TIER 1 MINING JURISDICTIONS

4

295,838 oz

239,724 oz

100,000

150,000

200,000

250,000

300,000

350,000

Canadian Operations Australian Operations

2016 Gold Product io n By Country

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

550,000

600,000

Pro Forma Consolidated

1.Pro forma information operating results from: (i) the former Newmarket Gold Inc. (“Newmarket”) assets for the entire 12-month period ended December 31, 2016 including the period from January 1, 2016 to November 29, 2016 prior to the merger with Kirkland Lake Gold Inc. (“KLG”) on November 30, 2016 (See Newmarket Press Release dated November 3, 2016); and (ii) the Holt Mine Complex for the entire 12-month period ended December 31, 2016, including the period of January 1, 2016 to January 25, 2016 prior to the acquisition of St Andrew Goldfields Ltd. (“SAS”) by KLG on January 26,

2016 (See KLG press release dated May 12, 2016). See Press Releases dated January 9, 2017 and February 27, 2017 filed on the SEDAR profile of the Company

1

542,751 oz

• Canadian gold operations exceeded 2016 guidance of 270k – 290k ounces

• Australian operations exceeded 2016 production guidance of 225k – 235k ounces

• Consolidated 20161 operating cost per ounce2 of $571, well below the lowest range of the operating cost guidance of US$600-$650

• Consolidated all in sustaining cost (“AISC”) per ounce2 of $923 in 2016 versus guidance of US$1,000-1,050

KLGOLD.COMTSX:KL

51 Cash position is as at December 31, 2016 News Release dated March 29, 2017 2 Non-GAAP measures, refer to slide 2 “Cautionary Language”, Canadian: US Dollar exchange $0.75

STRONG BALANCE SHEET(as at December 31, 2016)

Cash US$235 million

Convertible Debentures US$85 million

KGI.DB: 6% C$15.00 Conv. Price C$56.8M mature June 2017KGI.DB.A: 7.5% C$13.70 Conv. Price C$62.0M mature Dec 2017

Net Cash US$150 million

CAPITAL STRUCTURE & OWNERSHIP (as at December 31, 2016) 1, 2

Issued & Outstanding 203 million

Market Capitalization (TSX)(March 1, 2017)

+CAD$ 1.9 billion

Daily Avg. Volume – 50 day (February 15, 2017)

1.2 million shares

Insider Ownership (Eric Sprott)

~10%

✓ No gold hedging in place

Fosterville Gold Mine, Australia Macassa Gold Mine, Canada

STRONG FINANCIAL POSITION

✓ Change in reporting currently to US$ for December 31, 2016 year end financial results

DIVIDEND POLICY INITIATED

Quarterly dividend of C$0.01 per common share

Payable on July 14, 2017 to shareholders of record on June 30, 2017

KLGOLD.COMTSX:KL

6

CANADIAN OPERATIONS AUSTRALIAN OPERATIONS

(U.S.)$Macassa Mine

Holt Gold Mine

Taylor Gold Mine

Fosterville Gold Mine

Cosmo Gold Mine

Consolidated

Gold Production (oz)180,000 –185,000

65,000 –70,000

55,000 –60,000

140,000 –145,000

60,000 –65,000

500,000 – 525,000

Operating Cash Costs per Ounce1,2 $552 –$568

$672 –$723

$551 –$601

$467 –$484

$941 –$1020

$625- $675

AISC per Ounce1,2 $950- $1,000

Sustaining Capital and growth capital ($ million)

$180- $200

Exploration Expenditure ($ million) $45- $55

Royalty cost ($ million) $16- $20

G & A ($ million) $14

2017 OUTLOOK FOR THE NEW KL GOLD

1) See Non-GAAP Measures sections in forward looking statements; 2) Operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28. See Press Release dated February 27, 2017 filed on the SEDAR profile of the Company.

Macassa36%

Taylor11%

Fosterville28%

Holt13%

Cosmo12%

2017E production by Mine

KLGOLD.COMTSX:KLHIGH GRADE, LOW COST CORNERSTONE ASSETS

CORNERSTONE ASSETS

LOW COST OUNCES

DISTRICT SCALE GROWTH

1. Kirkland Lake Gold guidance provided on January 9, 2017, refers to high end range of guidance 2. See Non-GAAP Measures sections in forward looking statements; Operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28,Full Year 2016 Operating Costs and All-In Sustaining Costs as reported March 29, 2016 7

CORNERSTONE ASSETS

LOW COST OUNCES

DISTRICT SCALE GROWTH

• Macassa Gold Mine, Fosterville Gold Mine & Taylor Gold Mine

• ~ 75% of 2017E production

• Growth potential with excess milling capacity at each mill

• <US$525 Operating Costs and <US$850 AISC2 (Full Year 2016)

• Fosterville exploration lease +500 km2

• Macassa exploration lease +40 km2

• 120 km land package along prolific Porcupine Destor Fault

Macassa Mine Fosterville Mine Taylor Mine Consolidated

P&P Reserve Grade (g/t Au) 20.8 9.2 5.4 14.6

2016 FY Production (oz) 175,167 151,755 42,639 > 369,000

Operating Costs (US$/Oz Sold) FY 20161 US$527 US$4202 US$438 < US$525

AISC (US$/Oz Sold) FY 20161 US$902 US$6412 US$709 < US$850

KLGOLD.COMTSX:KL

8

MACASSA: KEY VALUATION DRIVER FOR KL GOLD

41,054

38,929

42,866

52,318

15.3

12.2

13.7

16.3

10

11

12

13

14

15

16

17

18

19

20

Q1 - 16 Q2- 16 Q3 - 16 Q4 - 16

30,000

35,000

40,000

45,000

50,000

55,000

Go

ld P

rod

uct

ion

(oz

)

Go

ld G

rad

e (g

/t)

MINERAL RESOURCE & RESERVES (Dec 31, 2016) 1

Proven and Probable Mineral Resources increased by 37% to 2.01 million ounces of gold at an average grade of 20.8 g/t gold.

Measured and Indicated Mineral Resources are exclusive of Mineral Reserves contain 1.32 million ounces grading 16.6 g/t gold.

Extensive surface and underground drilling underway.

$970 $1,003$959

$834

$612 $644$546

$420

SY 2015 Q2 2016 Q3 2016 Q4 2016

Production Costs US$/oz2,3 AISC OCC

The Macassa Mine is a high-grade gold mine, with grade improving at depth, located in Kirkland Lake, Ontario

1. Refer to appendix for NI 43-101 Disclosure 2. SY refers to Stub Year 2015 referencing April 30, 2015 to December 31 2015 8 months 3. .See Kirkland Lake News Release dated Feb 27, 2017 for additional detail reporting preliminary Q4 2016 operating and AISC

KLGOLD.COMTSX:KLPLAN VIEW OF PROJECT AREA – KIRKLAND LAKE GOLD CAMP

9

• The Kirkland Lake gold camp has been in production for + 100 years

• One of the highest grade gold camps in the world

• Almost 25 Moz’s has been produced to date, from seven mines

• Kirkland Lake Gold owns five former producing high grade mines with historical production of ~22 Moz’s of gold

• Average head grade of 15.1 g/tSouth Mine Complex Gold DepositSMC

KLGOLD.COMTSX:KLREGIONAL EXPLORATION ACROSS A PROLIFIC TREND

See KLG press releases dated January 19, 2016 and November 7, 2016 filed on the sedar profile of KLG on www.sedar.com

• Significant expansion potential down dip, along strike• Previously released surface exploration results to the east returned values of 29.5 g/t gold over 0.3m (AB-15-92) and 28.1 g/t gold

over 0.6m (AB-15-106)• Recent Highlight results along the easterly strike of the SMC include:• 651.8 g/t gold over 3.8 metres, 102.5 g/t gold over 3.2 metres and 100.5 g/t gold over 1.6 metres

10

SMC


KLGOLD.COMTSX:KL

11

FOSTERVILLE GOLD MINE: LOW COST PRODUCER

33,138

37,245 36,967

44,406

7.34 7.5

6.91

8.48

6

6.5

7

7.5

8

8.5

9

9.5

10

Q1 - 16 Q2- 16 Q3 - 16 Q4 - 16

20,000

25,000

30,000

35,000

40,000

45,000

50,000

Go

ld P

rod

uct

ion

(oz

)

Go

ld G

rad

e (g

/t)


Proven and Probable Mineral Reserves increased 66% to 643,000 ounces of gold at an average grade of 9.2 g/t Au.

Measured & Indicated Mineral Resource grade increased 23% grading 5.7 g/t Au to 2,790,000 ounces of gold.

The Lower Phoenix gold system has been traced by development and drilling for over 2 km and remains open for further expansion.

$723 $741 $765

$641

$473 $440 $471$420

Q1 16 Q2 16 Q3 16 Q4 16

Production Costs US$/oz2 AISC OCC

The Fosterville Gold Mine is the largest gold producer in the state of Victoria, Australia

1. Refer to appendix for NI 43-101 Disclosure. 2.See Kirkland Lake Press release dated Feb 27, 2017 for additional detail, costs presented for Q4 16 only represent the one month since the transaction with Newmarket Gold ending December 31, 2016 reporting preliminary Q4 2016 operating and AISC

KLGOLD.COMTSX:KL

12

Harrier Drill Drive

12.5 g/t Au over 2.4m


Lower Phoenix

Drill Targets

Harrier Decline

Harrier


6.5 g/t Au over 25m



7.3 g/t Auover 13.9m

80

50

mN


22.1 g/t Au over 3.3mFirst recorded visible gold from Harrier

16.6 g/t Au over 3.05m 11.99 g/t Au over 3.4m




112 g/t Au over 11.9m


386 g/t Au over 3.4m16.4 g/t Au over 16.5m


64.80 g/t Au over 4.3m (VG)

46.2 g/t Au over 6.6m (VG)






129 g/t Au over 6.2m (VG)


1,429 g/t Au over 4.97m

FOSTERVILLE GOLD MINE: DRILLING SUCCESS

Mineral Resources, Reserves and mining as at December 31, 2016

• Consistently intersecting high-grade gold in multiple zones: Harrier, Lower Phoenix, Lower Phoenix South and Lower Phoenix North with grade increasing at depth on all zones

• Key intercepts Lower Phoenix South & North: 12.75 g/t gold over 4.5m, 13.4g/t gold over 3.8m, 12.5 g/t gold over 2.4m, & 7.3 g/t gold over 13.9m

• High-Grade Visible Gold (VG) intercepts at Harrier Gold Zone; 64.8 g/t gold over 4.3m, 46.2 g/t gold over 6.6m

• Record high-grade drill intercept on the Lower Phoenix foot wall announced Jan 17, 2017 including 1,429 g/t gold over 4.97m

All intercepts presented are estimated true width

KLGOLD.COMTSX:KL

13

FOSTERVILLE GOLD MINE: DISTRICT SCALE POTENTIAL

Harrier Drill Drive

= Visible gold elevation depth, increasing with depth

Current Mining FrontBLOCK A

BLOCK C

BLOCK D

BLOCK B

Lower Phoenix

Phoenix

Fosterville underground Reserve of 490,000 ounces at 9.8 g/t Au (1,560,000 tonnes) with Measured and Indicated resources of 1.08 million ounces grading 10.1 g/t Au (3,310,000 tonnes) as of Dec 20162

With additional drilling success blocks A,B,C and D are targeted to add +5 years of additional mine life on top of current reserves and resources (Block B drilling underway testing 1000 metres down plunge from current resources/reserves)

Mill Capacity +850k tpa, currently at ~700k tpa. opportunity to open additional mining fronts (three total) in Block A and Block D

Additionally there are over 20 kilometers of potential gold bearing structures on the 505km2

Fosterville property highlighting the exceptional potential of this district

1. Refer to slide 2 forward looking “Cautionary Language’ 2. Refer to the appendix “NI 43-101 Disclosure

KLGOLD.COMTSX:KLFOSTERVILLE FAULT MINING LEASE LONG SECTION

14

Target

Target

Target

Current mining front

Mining lease long section (~17km2) contains ~10km strike length of Mineral Resources with ~7km on Fosterville Fault Line and ~3km on the O’Dwyer’s Fault Line

Shallow, limited drilling North of the Central North past producing open pit

Near mine mineralization remains open along strike and down plunge, gradual grade increasing at depth in the Lower Phoenix and Harrier zones

Fosterville Fault is one of many gold bearing structures within a 505km2 exploration lease land package

Limited shallow 50-100m drilling

KLGOLD.COMTSX:KLFOSTERVILLE REGIONAL POTENTIAL

15

• Mining lease (MIN5404:~17km2) contains ~10km strike length of Mineral Resources with ~7km on Fosterville Fault Line and ~3km on the O’Dwyer’s Fault Line.

• Surrounding exploration leases encompass ~505km2 and contain ~60km of potential gold-bearing structures along 7 interpreted fault lines.

• 5 of the 7 lines contain known gold occurrences with historic resources and/or historic workings.

• The processing plant is located within 30km of prospective targets.

• Limited exploration work on surrounding exploration lease

• The 2017 exploration program includes planned drilling for the Sugarloaf Line (SW of operation), soil sampling in northern part of exploration lease and 2D seismic lines over northern and southern ends of mining lease.

• District scale potential within a well known camp of multi-million ounce gold deposits

1.08 million ounces M&I resources at 10.1 g/t gold1, current mining zones of Phoenix, Lower Phoenix*

Fosterville mill

* Refer to appendix NI 43-101 technical disclosure, technical reports filed on sedar March 30, 2017 and Year-end 2016 Resource and Reserve News release filed March 28, 2017

KLGOLD.COMTSX:KL

16

TAYLOR GOLD MINE: KL GOLD’S NEWEST PRODUCER

7,347

11,40811,630

10,0487.6

6

7.1 6.7

0

1

2

3

4

5

6

7

8

9

10

Q1 - 16 Q2- 16 Q3 - 16 Q4 - 16

5,000

6,000

7,000

8,000

9,000

10,000

11,000

12,000

Go

ld P

rod

uct

ion

(oz

)

Go

ld G

rad

e (g

/t)


Measured & Indicated Mineral Resources increased by 40% to 493,000 ounces of gold at an average grade of 5.6 g/t gold

Proven & Probable Reserves of 129,000 ounces of gold grading 5.4 g/t

Kirkland Lake Gold’s newest mine, first full year production

Significant exploration potential along the Porcupine Destor Fault Zone

The Taylor Gold Mine is high-grade cornerstone asset for the company, located approx.70 km west of the Holt Mill

1. Refer to appendix for NI 43-101 Disclosure

$732$812

$379$446

Q3 - 16 Q4 - 16

Production Costs US$/oz 1 AISC OCC

KLGOLD.COMTSX:KLTAYLOR GOLD MINE: UPSIDE POTENTIAL

1.5km1.5km Multi-rig diamond drilling underway

Recent drill results announced new discoveries and extensions at the Taylor Gold Mine Complex

10.31 g/t Au over 3.2 m new WPZ Deposit style mineralization approximately 300 m to the west

9.50 g/t Au over 4.5 m identifies up-dip extension of the WPZ Deposit 1004 Zone

3.29 g/t Au over 9.6 m and 4.59 g/t Au over 5.8 m on surface, identifies new mineralization 800 m east of the Shaft Deposit

17

10.3 g/t Au over 3.2 m

9.5 g/t Au over 4.5 m

3.29 g/t Au over 9.6 m and 4.59 g/t Au over 5.8 m

Longitudinal View Looking North

39.6 g/t Au over 1.1 m (14.6 g/t Au over 1.1 m cut)

13.9 g/t Au over 1.5 m (12.7 g/t Au over 1.5 cut)

KLGOLD.COMTSX:KL

18

PROJECT LOCATION – DISTRICT SCALE OPPORTUNITY

KLGOLD.COMTSX:KLFOCUSED EXECUTION & VALUE CREATION

19

Kirkland Lake Gold is focused on maintaining positive and growing free cash flow margins while keeping a disciplined approach to capital allocation to ensure profitable sustainable gold production

Low cost, Robust Margins Diversified Production

Strong Balance SheetDistrict Scale

Exploration Potential Cash balance of US$235 million at

December 31, 2016

2017E Gold Production of ~525,000 ozSolid Operating Platform in Tier 1 Mining

Jurisdictions

High quality projects with significant exploration upside

Strong free cash flow generation and committed leadership team to deliver

targets

DELIVER SUPERIOR SHAREHOLDER VALUE

APPENDIX

Notes, additional disclosure and other information

KLGOLD.COMTSX: KL

March 2017

KLGOLD.COMTSX:KLVALUE PROPOSTION

21Source: Company filings, FactSet, Bloomberg, and available equity research, market data as of Mar 24, 2017 1. NAV, Production, and Cash Flow based on broker consensus; Averages exclude Kirkland Lake

Price / 2017E Cash Flow1P / NAV1 EV / 2017E Production1

$5,711

$5,303

$5,247

$4,118

$3,645

$3,645

$3,595

$3,267

$3,220

$3,112

$2,714

Alamos

Torex

Guyana

Detour

Regis

Richmont

New Gold

OceanaGold

Northern Star

Klondex

Kirkland Lake

Peer Avg. US$4,086/oz

15.6x

11.0x

9.2x

9.0x

8.3x

8.1x

7.8x

6.1x

6.1x

5.9x

4.9x

Alamos

Guyana

Torex

Richmont

Detour

Klondex

Regis

Northern Star

New Gold

Kirkland Lake

OceanaGold

Peer Avg. 8.6x

1.20x

1.15x

1.06x

1.04x

1.04x

1.02x

1.01x

1.01x

0.99x

0.86x

0.69x

Regis

OceanaGold

Kirkland Lake

Torex

New Gold

Klondex

Alamos

Guyana

Northern Star

Richmont

Detour

Peer Avg. 1.00x

KLGOLD.COMTSX:KLANALYST COVERAGE (Jan 2017)

22

Firm Anonymous GMP Barclays CIBC Merrill TD RBC ITG Instinet

Shares Traded 9.6 million 4.9 million 4.6 million 4.5 million 2.7 million 2.4 million 2.2 million 1.6 million 1.3 million

50 Day Avg Volume 1,200,000 (as of Feb 15, 2017)

BrokerInitiation

Date

TargetPrice (C$)

Target RatingFY17E

Production Oz(000’s)

FY17ECash Costs

(US$)

FY17EAISC (US$)

CAPEX (US$ MM)

NAV (C$M)

CIBC Dec ’16 $10.25 outperform 505 $570 $920

Scotia - $10.00 outperform 509 $625 $895 $1,323

GMP Oct ’15 $14.50 buy 509 $637 $960 $113 -

Macquarie Dec ’16 $14.00 outperform 454 $601 877 $146 $US836

RBC Capital Dec ’16 $11.00 outperform 561 $597 $934 $131 $1,169

PI Financial Jan ’16 $11.90 buy 515 $585 $892

National Bank Dec ’16 $11.35 Outperform 510 $741 1,087

M Partners Dec ’16 $12.50 buy 500 $680 S1,001

BMO - $9.00 market Perform 502 $580 $926

Average $10.87

Opinions estimates or forecasts regarding Kirkland Lake Gold performance made by these analysts are theirs alone and do not represent the opinions estimates or forecasts of the Company or its management.

KLGOLD.COMTSX:KLTIER ONE CANADIAN OPERATIONS 2017E

1. Refer to slide 2 forward looking and Non IFRS Disclosure, operating Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28. 23

Location Town of Kirkland Lake, 580 km north of Toronto, Ontario

Mine type Underground, shaft access

2017 Production

Guidance

180,000 – 185,000 ounces

Deposit type Orogenic greenstone hosted gold (Lode Gold deposit)

Process Carbon in Pulp (CIP)

End product Gold doré

Infrastructure #3 Shaft, 2,200 tpd capacity

Macassa Mill, 2,000 tpd capacity

Commenced

Operation

2002 by Kirkland Lake Gold, producing since 1933

MACASSA MINE

HOLT MINE

Location Matheson, Ontario

Mine type Underground, access by shaft

2017 Production

Guidance

65,000 – 70,000 ounces

Deposit type Mafic Volcanic

Process Ore is processed at the Holt Mill


Infrastructure Holt Mill, 3,000 tpd capacity; Holt Shaft, 1,500 tpd

hoisting plant capacity

Commenced

Operation

August 1988

Location Matheson, ON

Mine type Underground, decline access

2017 Production Guidance 55,000 – 60,000 ounces of

gold

Deposit type Orogenic greenstone hosted

gold (Lode Gold deposit)

Process Ore is processed at Holt Mill


Commenced Operation Q4 2015

TAYLOR MINE

KLGOLD.COMTSX:KLTIER ONE AUSTRALIAN OPERATIONS 2017E

1. Refer to slide 2 forward looking and Non IFRS Disclosure, operating Cash Costs per ounce and AISC per ounce reflect an ave rage USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28.24

Location Bendigo, State of Victoria,

Australia


2017 Production Guidance 140,000 – 145,000 ounces

Deposit type Orogenic Gold

Process BIOX, CIL, & Gravity Circuit


Infrastructure Mill 2,275 tpd capacity

Commenced Operation 2005

COSMO MINE

Location Northern Territory, Australia


2017 Production Guidance 60,000 -65,000 ounces

Deposit type Disseminated Stratabound

Turbidite hosted

Process CIL


Infrastructure 6,850 tpd at Union Reefs Mill

FOSTERVILLE MINE

KLGOLD.COMTSX:KLBOARD AND SENIOR MANAGEMENT

25

Board of Directors

Eric Sprott Chairman of the Board

Anthony Makuch President & CEO

Barry Olson Independent

Pamela Klessig Independent

Jeffrey Parr Independent

Raymond Threlkeld Independent

Maryse Belanger Independent

Jonathan Gill Independent

Arnold Klassen Independent

Senior Management Team

Anthony Makuch President & Chief Executive Officer

Darren Hall Chief Operating Officer

Philip Yee Chief Financial Officer

Alasdair Federico EVP Corporate Affairs and CSR

KLGOLD.COMTSX:KL

FY 2016 Production (ozs) Q4/15 Q4/16 FY/2015 FY/2016

MACASSA GOLD MINE 37,979 52,318 102,597 175,167

HOLT MINE COMPLEX 10,677 35,634 127,860

CONSOLIDATED PRODUCTION1 75,134 87,952 210,330 303,027

2016 FY GUIDANCE 270k-290k

Q3/16 Canadian Operating Results Tonnes Milled Grade (g/t Au) Recovery (%) Production (ozs)

MACASSA MINE COMPLEX1 100,357 13.7 96.9 42,866

HOLT MINE 101,283 4.8 95.1 14,950

HOLLOWAY MINE 53,780 5.1 88.4 7,829

TAYLOR MINE 52,466 7.1 97.1 11,630

CONSOLIDATED PRODUCTION 77,274

Q4/16 Canadian Operating Results Tonnes Milled Grade (g/t Au) Recovery (%) Production (ozs)

MACASSA MINE COMPLEX1 102,289 16.3 97.6 52,318

HOLT MINE 113,499 4.6 94.5 15,761

HOLLOWAY MINE 65,215 5.4 87.3 9,825

TAYLOR MINE 48,254 6.7 96.1 10,048


CANADIAN OPERATIONS1 - BEAT 2016 GUIDANCE

26

1.Pro forma information operating results from: (i) the former Newmarket Gold Inc. (“Newmarket”) assets for the entire 12-month period ended December 31, 2016 including the period from January 1, 2016 to November 29, 2016 prior to the merger with Kirkland Lake Gold Inc. (“KLG”) on November 30, 2016 (See Newmarket Press Release dated November 3, 2016); and (ii) the Holt Mine Complex for the entire 12-month period ended December 31, 2016, including the period of January 1, 2016 to January 25, 2016 prior to the acquisition of St Andrew Goldfields Ltd. (“SAS”) by KLG on January 26, 2016 (See KLG press release dated May 12, 2016). See Press Release dated January 9, 2017 filed on the SEDAR profile of the Company at www.sedar.com.


KLGOLD.COMTSX:KLAUSTRALIAN OPERATIONS1 - BEAT 2016 GUIDANCE

Q4/16 Australian Operating Results Tonnes Milled Grade (g/t Au) Recovery (%) Production (ozs)

FOSTERVILLE GOLD MINE 176,242 8.48 92.4 44,406

COSMO GOLD MINE 157,770 2.78 94.5 13,307

STAWELL GOLD MINE 172,049 1.49 84.5 6,971


FY 2016 Production (ozs) Q4/15 Q4/16 FY/2015 FY/2016

FOSTERVILLE GOLD MINE 36,967 44,406 123,095 151,755

COSMO GOLD MINE 10,677 13,307 63,255 55,765

STAWELL GOLD MINE 8,150 6,971 36,321 32,204

CONSOLIDATED PRODUCTION 55,794 64,684 222,671 239,724

2016 FY GUIDANCE2 225k-235k

Q3/16 Australian Operating Results Tonnes Milled Grade (g/t Au) Recovery (%) Production (ozs)

FOSTERVILLE GOLD MINE 185,071 6.9 89.1 36,967

COSMO GOLD MINE 138,801 2.5 95.3 10,677

STAWELL GOLD MINE 218,702 1.5 80.1 8,150


27

1.Pro forma information operating results from: (i) the former Newmarket Gold Inc. (“Newmarket”) assets for the entire 12-month period ended December 31, 2016 including the period from January 1, 2016 to November 29, 2016 prior to the merger with Kirkland Lake Gold Inc. (“KLG”) on November 30, 2016 (See Newmarket Press Release dated November 3, 2016); and (ii) the Holt Mine Complex for the entire 12-month period ended December 31, 2016, including the period of January 1, 2016 to January 25, 2016 prior to the acquisition of St Andrew Goldfields Ltd. (“SAS”) by

KLG on January 26, 2016 (See KLG press release dated May 12, 2016).

KLGOLD.COMTSX:KLCONSOLIDATED FINANCIAL HIGHLIGHTS FOR 2016 Q4 & YEAR END 1

28

CONSOLIDATED KEY PERFORMANCE MEASURES

1. Refer to slide 2 forward looking and Non IFRS Disclosure, operating Cash Costs per ounce and AISC per ounce reflect an ave rage USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28 and the Management Discussion & Analysis and Financial Statements as at December 31, 2016 available on the companies website www.klgold.com and on www.sedar.com under the companies profile

(In thousands of dollars, except pershare amounts)

THREE MONTHS ENDED DECEMBER 31, 2016

TWO MONTHS ENDED DECEMBER 31, 2015

YEAR ENDED DECEMBER 31, 2016

EIGHT MONTHS ENDED DECEMBER 2015

Revenue $134,225 $27,860 $406,664 $115,796

Production costs $66,152 $15,399 $198,369 $64,730

Net earnings before taxes $11,194 $1,888 $73,263 $12,802

Net earnings $3,076 $609 $42,107 $5,731

Earnings per share – basic $0.02 $0.01 $0.35 $0.07

Earnings per share – diluted $0.02 $0.01 $0.34 $0.07

Cash flow from operations $65,014 $11,388 $180,928 $39,358

Cash investment on mine development & PPE

$23,885 $5,178 $73,694 $26,258

Adjusted net earnings $27,909 $609 $75,282 $5,731

Adjusted net earnings per share $0.19 $0.01 $0.62 $0.07

THREE MONTHS ENDED DECEMBER 31, 2016

TWO MONTHS ENDED DECEMBER 31, 2015

YEAR ENDED DECEMBER 31, 2016

EIGHT MONTHS ENDED DECEMBER 2015

Tonnes milled 469,968 62,158 1,304,037 225,729

Grade (g/t Au) 7.5 14.1 7.9 14.4

Recovery (%) 93.6 97.2 95.1 97.1

Gold produced (oz) 106,609 27,604 314,495 102,597

Gold sold (oz) 111,690 25,284 329,489 101,094

Average realized price ($/ oz sold) $1,202 $1,102 $1,234 $1,145

Operating cash cost per ounce ($/ oz sold)

$533 $604 $571 $638

AISC ($/ oz sold) $883 $1,006 $923 $970

http://www.klgold.com/


KLGOLD.COMTSX:KLDIVERSE ASSET PORTFOLIO

Strong Pipeline of Growth Projects

Significant Exploration Potential

• Macassa: Cornerstone, high-grade operation (average reserve grade of 19.2 g/t)

• Fosterville: Flagship operation continuing to demonstrate record production and record grades

• Taylor: Exciting newly-built mine with exploration upside to drive future growth

• Holt-Holloway: Sustainable and profitable production

• Cosmo: New near mine discoveries support improved operations

• Stawell: 30 years of continuous production with near mine exploration discovery

• Holt Mine Complex (Zone 7): Planned production in 2018 will provide >25kozs per year to the Holt Mine production profile

• Hislop Mine: Potential development asset (shallow open pit opportunity proximal to mill)

• Maud Creek: PEA-stage project planned to produce an average of ~50koz Au/year leveraging excess capacity at the 100% owned Union Reefs mill

• Big Hill: Low-cost, shallow oxide open pit opportunity within existing Stawell mining lease

• Kirkland Lake Camp: Drilling to test the extension of the SMC and the historic ‘04/Main break at depth

• Porcupine-Destor Fault Zone: Focus to increase mine-life, as well as drill testing a 120km strike length of prospective ground for new discoveries

• Victoria: New high-grade discovery at Fosterville, active drilling on Aurora B discovery at Stawell

• Northern Territory: New discoveries at Cosmo including Redbelly & Taipan Lode, with continued exploration success at Sliver Lode

Refer to Reserve and Resource Statements in Appendix of this presentation. Refer to Slide 31 “NI 43-101 Disclosure”.

29

KLGOLD.COMTSX:KLMACASSA MINE OVERVIEW

Gold Production (oz)

Prior to 2016 the Company’s year end was May 1 to April 30

F2014A F2015A 2016A

Cash Costs (US$/oz)

$812 $625 $527

AISC (US$/oz) $1,141 $803 $902

• 1,000tpd underground operation • 70% of ore tonnes derived from the higher grade South

Mine Complex, and 30% from the ‘04 Break mineralization• Mining to depths of 5400 feet below surface

• 2,000tpd processing capacity (50% unused)• Conventional CIP milling facility with 4 available mills

grinding to 40 to 45 micron• Recoveries averaging over 95%

• Opportunities being reviewed to increase production and reduce costs.

Resources are exclusive of Reserves. Refer to Reserve and Resource Statements Slide 31 “NI 43-101 Disclosure”. Refer to Slide 2 “Use of Non-GAAP Measures”.1 Adjusted to reflect calendar-year production and grade.

1

Updated Mineral Reserves & Resources (Dec. 31, 2016)

#3 Shaft #2 Shaft

155,226

30

155,226175,167

CY2015 2016

30,000

80,000

130,000

180,000

230,000

Proven and Probable Mineral Reserves increased by 37% to 2.01 million ounces of gold at an average grade of 20.8 g/t gold.

Measured and Indicated Mineral Resources are exclusive of Mineral Reserves contain 1.32 million ounces grading 16.6 g/t gold.

KLGOLD.COMTSX:KLSOUTH MINE COMPLEX

Refer to 2015, 2015 MD&A detailed mined grade disclosure to actual mined grades

31

5000 – 5100 level average mined grade (13g/t gold – 15g/t gold)



Grade trend continues to increase with depth

Proposed development

SMC zone remain open down plunge and along strike, drilling underway

KLGOLD.COMTSX:KLMACASSA CROSS SECTION LOOKING EAST

SELECTED HIGHLIGHTS

AB-15-12 11.7 gpt/ 0.3 metres0.34 opt/ 1.0 feet

AB-15-233,241.4 gpt/ 0.7 metres

94.54 opt/ 2.3 feet

11.7 gpt/ 0.3 metres0.34 opt/ 1.0 feet

AB-15-5312.3 gpt/ 0.5 metres

0.36 opt/ 1.7 feet

AB-15-91646.3 gpt/ 0.9 metres

18.85 opt/ 2.8 feet

including1,783.2 gpt/ 0.3 metres

52.01 opt/ 1.0 feet

And89.5 gpt/ 0.3 metres

2.61 opt/ 1.0 feet

See press release dated November 3, 2015, as filed on SEDAR

32

KLGOLD.COMTSX:KLSOUTH MINE COMPLEX (SMC) UNDERGROUND DRILLING

Plan View showing 5300’ Level infrastructure testing the easterly strike extension of the SMC

33

KLGOLD.COMTSX:KLSMC DRILLING ON THE HM CLAIM

34

KLGOLD.COMTSX:KL’04 MAIN BREAK UNDERGROUND DRILLING

3000’Level

Long Section View Looking North

35

KLGOLD.COMTSX:KLHolt-Holloway Exploration Targets

Holt Property

Holloway PropertyHolloway West

(Harker)

Lightval

36

KLGOLD.COMTSX:KLHOLT MINE COMPLEX

37

90,676

107,733

127,860

2014A 2015A 2016A


Mine Overview Stats2

2014A 2015A 2016A

Gold Production(oz)

90,676 107,733 120,671

Gold Grade (g/t) 4.3 5.3 5.2

Cash Costs (US$/oz)

$851 $698 $527

AISC (US$/oz) $1,072 $942 $902

• Three producing mines (Holt, Holloway and Taylor) contribute ~2,200tpd

• Holt contributes ~1,200tpd• Taylor contributes ~ 550tpd

• 3,000tpd processing capacity (30% unused)• Conventional CIL milling facility• 3 mill grinding circuit

• 2017 exploration is focused on increasing the level of resources and reserves to boost mine life

1. Refer to appendix for NI 43-101 Disclosure, 2. See Non-GAAP Measures sections in forward looking statements; Operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28

KLGOLD.COMTSX:KLHOLT EXPLORATION TARGETS

381. Refer to appendix for NI 43-101 Disclosure

Tousignant

Deposit

Zone 6

Zone 4

Mattawasaga Pits

Zone 7

Surface

1075m Level

925m Level

435m Level

Current drift

development

Zone 4 West Extension

500 m1 km 02 km3 km 1 km 1.5 km

Zone 7 Target

ZONE 4 TARGET

Cascade Deposit

TOUSIGNANT

TARGET

Longsection looking North at Holt Mine

2 surface drills targeting Tousignant West and Cascade Deposit

Surface

Shaft Bottom

(867m)

LIGHTNING DEEP TARGET

(down plunge)

BLACKTOP TARGET

(west extension)

HOLLOWAY NORTH

TARGET

500 m 1 km 3 km

DEEP THUNDER

TARGET

(along strike)

Longsection looking North at Holloway Mine

KLGOLD.COMTSX:KLCOSMO GOLD MINE OVERVIEW

39

77,740

63,255 55,765

2014A 2015A 2016A


Mine Overview Stats

2014A (3) 2015A(3) 2016A

Gold Production(oz)

77,740 63,255 55,765

Gold Grade (g/t) 3.14 2.99 2.9

Recovery (%) 88.9 90.793.6

Cash Costs (US$/oz)(4) $1,000 $917 $1,048

AISC (US$/oz) (4) $1,263 $1,154 1,173

• Located in the Northern Territories which also hosts additional camps including Union Reefs, Maud Creek, and Howley

• ~800ktpa underground operation with decline access employing primarily Avoca mining method

• Mill located at Union Reefs, 67km away from Cosmo, has 2.0Mtpa processing capacity (60% unused) and conventional circuit – 3 stage crush, 2 stage ball, gravity and CIL, with regional toll milling opportunities

• Highlights and Key Drill Intercepts from the Newly Discovered Lantern Gold Deposit near existing underground infrastructure:

• 119 g/t Au(1)over 4.5m (ETW 4.0m), including 521 g/t Au(1)over 1.0m (ETW 0.9m) in hole CW93515

• 15.27 g/t Au(1) over 11.1m (ETW 7.0m), including 29.7 g/t Au(1)over 5.2m (ETW 3.1m),and 23.87 g/t Au over 5.4m (ETW 2.9m), including 125 g/t Au(1) (2)over 0.8m (ETW 0.4m) in hole CW101012

• 4.34 g/t Au(1)over 22.75m (ETW 11.3m) in hole CW101002(2)

• 4.23 g/t Au over 16.6m (ETW 9.8m) in hole CW101010

• 9.64 g/t Au(1)over 6.0m (ETW 3.85m) in hole CW101006

ETW - Estimated True Width

(1) Visible gold present in drill intercept(2) Previously reported intercept - See News Release dated July 22, 2015(3) Operating results from previous owners (4) 2016 operating costs and AISC refer to the one month ended December 31, 2016 following the completion of the business combination with Newmarket Gold.

KLGOLD.COMTSX:KLCOSMO MINE: NEW LANTERN DEPOSIT

40Note: For further information on drill results see News Release dated March 6, 2017 at www.klgold.com

http://www.klgold.com/

KLGOLD.COMTSX:KLMAUD CREEK PROJECT OVERVIEW

41

Base Case Highlights Utilizing Union Reefs Mill

Based on May 2016 Amended PEA using US$1,200/oz (AUD$1,550) gold price and AUD:USD 0.77

Pre-Tax NPV5% US$155 million

IRR (Pre-tax) 116%

After-Tax NPV5% US$105 million

Internal Rate of Return (After-tax) 80%

Pay Back 1.25 years

Pre-Production Capital Cost US$32 million

Mine Life 9.5 years

Diluted Gold Grade 4.2 g/t gold

Gold Recovery (Oxide/Transitional) 85%

Gold Recovery (sulphide) 95%

LOM Recovered Gold 496,000 ounces

Average Annual Production 52,000 ounces

LOM Cash Operating Cost US$632

• Cosmo Gold Mine currently processes ~800,000 tpa though the Union Reefs Mill (2016 guidance ~60koz)

• Union Reefs Mill has 1.2Mt of excess capacity to treat additional ore and is located 67km from Cosmo and 144km from Maud Creek

The PEA is preliminary in nature and is based on a number of assumptions that may be changed in the future as additional information becomes available. The PEA includes inferred mineral resources that are

considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

The Maud Creek Gold Project PEA Technical Report is available on Sedar and www.newmarketgoldinc.com and was compiled by Peter Fairfield, Principal Consultant (Project Evaluation), BEng (Mining), FAusIMM

CP (Mining) of SRK Consulting (Australasia) Pty Ltd. By virtue of his education, membership to a recognized professional association and relevant work experience, Peter Fairfield is an independent "Qualified

Person" as such term is defined in NI 43-101. Mineral resources that are not mineral reserves do not have demonstrated economic viability. For full details please see press release dated May 16, 2016.

Refer to Slide 2 “Forward Looking Information”.

KLGOLD.COMTSX:KLSTAWELL GOLD MINE

42

39,230 36,321

32,204

2014A 2015A YTD2016A


Mine Overview Stats

2014A 2015A YTD2016A Q4 2016 FY 2016

Gold Production(oz)

39,230 36,321 25,233 6,971 32,204

Gold Grade (g/t)

1.67 1.56 1.46 1.49 1.47

Recovery (%)

78.8 80.8 79.9 84.5 80.9

Cash Costs (US$/oz)

$1,151 $917 $1,222 $1,973 $1,973

AISC (US$/oz)

$1,193 $1,063 $1,345 $2,025 $2,025

• Q4 2016 Stawell Gold Mines put on Care and Maintenance

• Underground operation with decline access employing open stoping with either CRF or combinations of CRF and rock fill or all rock fill with pillars

• Current mining fronts comprised of Magdala and surface oxides stockpiles

• 1.0 Mtpa processing capacity (20% unused); conventional crush-grind followed by sulphide flotation and CIL

• Open Pit, Big Hill P&P Reserves of 138 koz at 1.36 g/t Au, M&I of 166 koz at 1.52 g/t and Inferred Resources of 2 koz at 1.15 g/t

• 2016 Drill Campaign has 2 drills active on the East Flank (mining traditionally focused on West Flank with 2.3 Moz of past production):

• Aurora B discovery on East Flank with maiden resource of 30,400oz at 3.5 g/t

• Intercepts include 13.7 g/t over 5.4m

• Big Hill Gold Project is a low cost, shallow oxide open pit opportunity adjacent to Stawell

• Currently awaiting permitting process

1. 2016 operating costs and AISC refer to the one month ended December 31, 2016 following the completion of the business combination with Newmarket Gold.

KLGOLD.COMTSX:KLSTAWELL GOLD MINE AURORA B GOLD ZONE

43

Maiden Inferred Mineral Resource of 30,400 ounces grading 3.5g/t gold. The grade of the Aurora B Inferred Mineral Resource is 42% greater than the underground Mineral Reserve grade

East Flank TargetAurora A

Traditionally mined West Flank total production to date 2.3 million ounces

Magdala

13.7 g/t gold over 5.4 m

Aurora B located approximately 500m above Aurora A

Two diamond drill rigs active on the east flank

KLGOLD.COMTSX:KL

44

APPENDIX: CONSOLIDATED MINERAL RESERVES BY ASSET AS OF DEC 31, 2016

PROVEN PROBABLE PROVEN & PROBABLE

Tonnes(000’s)

Gold Grade (g/t )

Gold Ounces

Tonnes(000’s)

Gold Grade (g/t )

Gold Ounces

Tonnes(000’s)

Gold Grade (g/t )

Gold Ounces

Macassa 610 16.9 332 2,390 21.8 1,670 3,000 20.8 2,010Taylor 0 0 0 743 5.4 129 743 5.4 129

Holt 1,450 4.2 194 2,500 4.7 376 3,950 4.5 570Holloway 0 0 0 57 5.7 10 57 5.7 10

Hislop 0 0 0 176 5.8 33 176 5.8 33Total Canadian Assets 2,060 8.0 526 5,870 11.8 2,220 7,930 10.8 2,750

Fosterville 896 7.9 229 1,280 10.1 414 2,170 9.2 643Northern Territory 98 3.0 9 2,310 2.3 168 2,400 2.3 177

Stawell 0 0 0 2,700 1.5 132 2,700 1.5 132Total Australian Assets 994 7.5 238 6,280 3.5 713 7,280 4.1 952

Total Reserves 3,050 7.8 764 12,200 7.5 2,940 15,200 7.6 3,700

NotesCIM definitions (2014) were followed in the calculation of Mineral ReservesMineral Reserves were estimated using a long-term gold price of US$1,200/oz (C$1,500/oz; A$1,500/oz)Cut-off grades for Canadian Assets were calculated for each stope, including the costs of: mining, milling, General and Administ ration, royalties and capital expenditures and other modifying factors (e.g. dilution, mining extraction, mill recovery.Cut-off grades for Australian Assets from 0.4 g/t Au to 2.7 g/t Au, depending upon width, mining method and ground conditions; D ilution and mining recovery factors varied by propertyMineral Reserves estimates for the Canadian Assets were prepared under the supervision of P. Rocque, P. Eng.Mineral Reserves estimates for the Fosterville property were prepared under the supervision of Ion Hann, FAusIMM.Fosterville CIL Residues are stated as Proven contained ounces. Mill recovery of 25% are planned, based on operating performa nce.Mineral Reserves estimates for the Northern Territory property were prepared under the supervision of Jason Keily, FAusIMM (CP).Mineral Reserves estimates for the Stawell property were prepared under the supervision of Ian Holland, FAusIMM.Totals may not add exactly due to rounding

KLGOLD.COMTSX:KL

45

APPENDIX: CANADIAN ASSETS MINERAL RESOURCES AS OF DEC 31, 2016

MEASURED INDICATED MEASURED & INDICATED INFERRED

Tonnes(000’s)

Gold Grade (g/t)

Gold Ounces

Tonnes(000’s)

Gold Grade (g/t)

Gold Ounces

Tonnes(000’s)

Gold Grade (g/t)

Gold Ounces

Tonnes(000’s)

Gold Grade (g/t)

Gold Ounces

Macassa 907 16.2 474 1,570 16.8 849 2,480 16.6 1,320 1,420 20.2 924Taylor 399 6.0 77 2,360 5.5 416 2,760 5.6 493 1,810 5.4 313

Holt 3,960 4.3 549 3,020 4.1 398 6,970 4.2 947 8,690 4.7 1,320Holloway 156 4.1 21 1,210 5.4 210 1,370 5.3 231 2,710 5.2 456

Hislop 0 0.0 0 1,150 3.6 132 1,150 3.6 132 797 3.7 95Aquarius 0 0.0 0 22,300 1.3 926 22,300 1.3 926 9 0.8 0Canamax 0 0.0 0 240 5.1 39 240 5.1 39 170 4.3 23

Ludgate 0 0.0 0 522 4.1 68 522 4.1 68 1,400 3.6 162

Totals 5,420 6.4 1,120 32,400 2.9 3,040 37,800 3.4 4,160 17,000 6.0 3,300

Notes1) CIMM definitions (2014) were followed in the calculation of Mineral Resource2) Mineral Resources are reported Exclusive of Mineral Reserves3) Mineral Resource estimates were prepared under the supervision of D. Cater, P. Geo. Vice President Exploration Canada4) Canadian Assets consist of Macassa, Holt, Taylor, Holloway, Canamax, Ludgate, Hislop, Aquarius5) Mineral Resources are estimated using a long-term gold price of US$1,200/oz (C$1,500/oz)6) Mineral Resources were estimated using a 8.57 g/t cut-off grade for Macassa, a 2.9 g/t cut-off grade for Holt, and a 2.6 g/t cut-off grade for Taylor, a 3.9 g/t cut-off grade (Holloway), a 2.5 g/t cut-off

grade for Canamax and Ludgate, a 2.2 g/t cut-off grade for Hislop and 0 g/t cut-off grade for Aquarius7) Totals may not add up due to rounding

KLGOLD.COMTSX:KL

46

APPENDIX: AUSTRALIAN ASSETS MINERAL RESOURCES AS OF DEC 31, 2016

MEASURED INDICATED MEASURED & INDICATED INFERRED

Tonnes(000’s)

Gold Grade (g/t)

Gold Ounces

Tonnes(000’s)

Gold Grade (g/t)

Gold Ounces

Tonnes(000’s)

Gold Grade (g/t)

Gold Ounces

Tonnes(000’s)

Gold Grade (g/t)

Gold Ounces

Fosterville 2,760 4.8 427 12,600 5.8 2,360 15,300 5.7 2,790 5,400 4.6 792Northern Territory 2,520 4.2 344 28,200 2.0 1,840 30,700 2.2 2,180 15,140 2.3 1,110

Stawell 81 3.7 10 3,620 2.0 236 3,700 2.1 246 1,130 2.9 104

Totals 5,360 4.5 781 44,400 3.1 4,440 49,700 3.3 5,220 21,700 2.9 2,000

Notes1) CIM definitions (2014) were followed in the estimation of Mineral Resource.2) Mineral Resources are estimated using a long-term gold price of US$1,200/oz (A$1,500/oz)3) Mineral Resources for the Australian assets are reported Inclusive of Mineral Reserves.4) Mineral Resources at Fosterville were estimated using cut-off grades of 0.7 g/t Au for oxide and 1.0 g/t Au for sulfide mineralization to potentially open-pitable depths of approximately 100m, below which a cut-off

grade of 3.0 g/t Au was used.5) Carbon-In-Leach Residues at Fosterville is stated as contained ounces – 25% recovery is expected based on operating performances.6) Mineral Resources in the Northern Territory were estimated using a cut-off grade of 0.5 g/t Au for potentially open-pitable mineralization and cut-offs of 1.5 to 2.0g/t Au for underground mineralization.7) Mineral Resources at the Stawell property were estimated using a 0.35g/t Au cut-off grade for potentially open-pitable mineralization and a range of cut-offs (2.0 to 2.3 g/t Au) for underground mineralization.8) Mineral Resource estimates for the Fosterville property were prepared under the supervision of Troy Fuller, MAIG. 9) Mineral Resource estimates for the Northern Territory properties, excluding the Maud Creek Deposit, were prepared under the supervision of Mark Edwards, FAusIMM (CP).10) Mineral Resource estimates for the Maud Creek property in the Northern Territory, was prepared by Danny Kentwell, FAusIMM. 11) Mineral Resource estimates for the Stawell property were prepared under the supervision of John Winterbottom, MAIG. 12) Totals may not add up due to rounding.

KLGOLD.COMTSX:KLNI 43-101 DISCLOSURE

Kirkland Lake Gold Qualified Person and QA/QC

All production information and other scientific and technical information in this presentation with respect to Kirkland Lake Gold and its assets were prepared in accordance with the standardsof the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and were prepared, reviewed,verified and compiled by Kirkland Lake Gold’s mining staff under the supervision of, Pierre Rocque P. Eng., Kirkland Lake Gold’s Vice President, Technical Services.

The exploration programs across Kirkland Lake Gold’s land holdings in Kirkland Lake were prepared, reviewed, verified and compiled by Kirkland Lake Gold’s geological staff under thesupervision of Doug Cater, P.Geo., the Company’s Vice President of Exploration, Canadian Operations. All reserve and resource estimates for the Kirkland Lake Properties as at December 31,2014 have been audited and verified, and the technical disclosure has been approved, by Kirkland Lake Gold’s independent reserve and resource engineer, Glenn R. Clark, P. Eng., of Glenn R.Clark & Associates Limited. Mr. Clark is a ‘qualified person’ under NI 43-101. The QP’s for the mineral reserves and resources outlined under the PDFZ Properties are Doug Cater, P. Geo,and,Pierre Rocque P. Eng., the Vice President of Exploration and the Vice President of mine engineering respectively, and not considered independent under NI 43-101.

Sample preparation, analytical techniques, laboratories used and quality assurance-quality control protocols used during the exploration drilling programs are done consistent with industrystandards and independent certified assay labs.

REFER TO KIRKLAND LAKE GOLD ANNUAL INFORMATION FORM DATED MARCH 30, 2017, AVAILABLE ON SEDAR (www.sedar.com) FOR COMPLETE NI 43-101 NOTES AND DISCLOSURE PERTAINING TO THE RESOURCE AND RESERVE STATEMENTS QUOTED HEREIN. All updated NI 43-101 TECHNICAL REPORTS IN SUPPORT OF THE COMPANY’S NEWS RELEASES ISSUED ON MARCH 30, 2017, ENTITLED “KIRKLAND LAKE GOLD INCREASES MINERAL RESERVES AT FLAGSHIP MACASSA MINE BY 37% AND FOSTERVILLE MINE BY 66%” WILL BE FILED ON MARCH 30, 2017 ON SEDAR AT WWW.SEDAR.COM

Qualified Persons

Pierre Rocque, P.Eng., Vice President, Technical Services is a "qualified person" as defined in National Instrument 43-101 and has reviewed and approved disclosure of the Mineral Reserves technical information and data for all Kirkland Lake Gold assets in this News Release.

Simon Hitchman, FAusIMM (CP), MAIG, Principal Geologist, is a “qualified person” as such term is defined in National Instrument 43-101 and has reviewed and approved the Mineral Resources technical information and data from the Australian Assets included in this News Release.

Doug Cater, P. Geo Vice President, Exploration, Canada is a "qualified person" as defined in National Instrument 43-101 and has reviewed and approved disclosure of the Mineral Resources technical information and data for the Canadian Assets included in this News Release.

47

Cautionary Note to U.S. Investors - Mineral Reserve and Resource Estimates

All resource and reserve estimates included in this news release or documents referenced in this news release have been prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosurefor Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, asamended (the "CIM Standards"). NI 43-101 is a rule developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical informationconcerning mineral projects. The terms "mineral reserve", "proven mineral reserve" and "probable mineral reserve" are Canadian mining terms as defined in accordance with NI 43-101 and the CIM Standards.These definitions differ materially from the definitions in SEC Industry Guide 7 ("SEC Industry Guide 7") under the United States Securities Act of 1933, as amended, and the Exchange Act.

In addition, the terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101 and the CIMStandards; however, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the U.S. Securities and ExchangeCommission (the "SEC"). Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount ofuncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category.Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in very limited circumstances. Investors are cautioned not to assume that all orany part of a mineral resource exists, will ever be converted into a mineral reserve or is or will ever be economically or legally mineable or recovered.


KLGOLD.COMTSX: KL

TONY MAKUCHPresident & Chief Executive OfficerMarch 2017

200 Bay Street, Suite 3120

RBC Plaza - South Tower

Toronto ON M5J 2J1

Main Telephone: 416-840-7884

Ryan King, Vice President Investor Relations

E:[email protected]

D:778 372 5611

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Kl gold presentation march 29, 2017

Investor Relations

Transcript of Kl gold presentation march 29, 2017