KIRKLAND LAKE, ONTARIO — (Marketwired) — 09/09/13 — Kirkland Lake Gold Inc. (the „Company“) (TSX: KGI)(AIM: KGI), an operating and exploration gold mining company, announces operational and financial results for the first quarter of its fiscal year 2014 (May, June, July 2013).
Mr. Harry Dobson, Chairman commented, „Considering that the first quarter had a planned shut down in order to successfully install a new hoist drive and replace the 10 ton skips with the 12.5 ton skips, we are pleased with the production results. We are on track to focus on driving up gold production for the remainder of the fiscal year. The elevated levels of capital spending are now largely behind us so capital and exploration spending will fall by approximately $30 million dollars this year compared to the previous fiscal year.“
KEY HIGHLIGHTS OF THE QUARTER
SELECTED FINANCIAL INFORMATION & REVIEW OF OVERALL PERFORMANCE
About the Company
Kirkland Lake Gold-s corporate goal is to create a self sustaining and long lived intermediate gold mining company based in the historic Kirkland Lake Gold Camp. The Company plans to do this by increasing production capacity to 2,200 tons of ore per day in several stages, and by decreasing production costs by realizing the economies of scale associated with that higher production capacity. At the same time, the Company is committed to maintaining a significant exploration program aimed at developing and maintaining a property wide reserve and resource base sufficient to sustain a mine life of more than ten years for as long as practicable.
Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward Looking Statements
This Press Release contains statements which constitute „forward-looking statements“, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and operating performance of the Company. The words „may“, „would“, „could“, „will“, „intend“, „plan“, „anticipate“, „believe“, „estimate“, „expect“ and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the Company-s expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), possible variations in ore grade or recovery rates, changes in accounting policies, changes in the Company-s corporate mineral resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, risks related to joint venture operations, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life,, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance, as well as those risk factors discussed or referred to in the Company-s annual Management-s Discussion and Analysis and Annual Information Form for the year ended April 30, 2012 filed with the securities regulatory authorities in certain provinces of Canada and available at .
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company 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 be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
Contacts: Kirkland Lake Gold Inc. Brian Hinchcliffe President +1 705 567 5208 +1 705 568 6444 (FAX)
Kirkland Lake Gold Inc. Lindsay Carpenter Director of Investor Relations +1 416-840-7884 +1 705 568 6444 (FAX)
NOMAD: Panmure Gordon (UK) Limited Callum Stewart / Adam James +44 (0) 20 7886 2500
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