Kirkland Lake Gold Announces Strategic Alliance With Newmont Canada For Exploration Opportunities Around Holt Complex And New...
August 17 2020 - 5:00PM
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or
the “
Company”) (TSX:KL) (NYSE:KL)(ASX:KLA) today
announced that the Company and its wholly-owned indirectly held
subsidiary St Andrew Goldfields Ltd. have entered into a strategic
alliance agreement (the “Agreement”) with Newmont Canada FN
Holdings ULC (“Newmont”) with respect to exploration and
development opportunities around the Company’s Holt Complex and
Newmont’s properties in Timmins, Ontario.
Under terms of the Agreement, Newmont will pay
Kirkland Lake Gold US$75 million to acquire an option (the
“Option”) on certain mining and mineral rights related to the
Company’s Holt Mine property. The Agreement also
includes a commitment by the two companies to work together to
identify additional regional exploration opportunities around their
respective land positions in the region where they may be able to
cooperate in the future to advance projects and create value for
both companies. Under terms of the Agreement, the Option may be
terminated by the Company upon the assumption of certain
liabilities related to the Holt Mine property. Kirkland Lake Gold
will act as manager of Strategic Alliance activities. Ownership of
all infrastructure on the Holt Mine property, including the Holt
Mill, is retained by Kirkland Lake Gold, and the Option does not
involve the other Holt Complex assets, including the Holloway and
Taylor mines.
About Kirkland Lake Gold
Ltd.
Kirkland Lake Gold Ltd. is a growing gold
producer operating in Canada and Australia that produced 974,615
ounces in 2019. The production profile of the Company is anchored
by three high-quality operations, including the Macassa Mine and
Detour Lake Mine, both located in Northern 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 expertise.
For further information on Kirkland Lake Gold
and to receive news releases by email, visit the website at
www.kl.gold.
FOR FURTHER INFORMATION PLEASE
CONTACT
Anthony Makuch, President, Chief Executive
Officer & DirectorPhone: +1 416-840-7884, E-mail:
tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor
Relations Phone: +1 416-840-7884, E-mail: mutting@kl.gold
Cautionary Note Regarding
Forward-Looking Information
This News Release includes certain
"forward-looking statements". All statements other than statements
of historical fact included in this release are forward-looking
statements that involve various risks and uncertainties. These
forward-looking statements include, but are not limited to,
statements with respect to the ability to increase exploration in
the region pursuant to the Agreement, planned exploration programs,
costs and expenditures, potential opportunities for growth and
other information that is based on forecasts of future operational
or financial results, estimates of amounts not yet determinable and
assumptions of management. These forward-looking statements
include, but are not limited to, statements with respect to future
exploration potential, project economics, timing and scope of
future exploration, anticipated costs and expenditures, changes in
mineral resources and conversion of mineral resources to proven and
probable reserves, and other information that is based on forecasts
of future operational or financial results, estimates of amounts
not yet determinable and assumptions of management.
Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans", "estimates" or "intends", or
stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved) are not
statements of historical fact and may be "forward-looking
statements." Forward-looking statements are subject to a variety of
risks and uncertainties that could cause actual events or results
to differ from those reflected in the forward-looking
statements.
There can be no assurance that forward-looking
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from the Company’s expectations include, among
others, risks related to international operations, risks related to
obtaining the permits required to carry out planned exploration or
development work, the actual results of current exploration
activities, conclusions of economic evaluations and changes in
project parameters as plans continue to be refined as well as
future prices of gold, as well as those factors discussed in the
section entitled "Risk Factors" in the Company’s Annual Information
Form, financial statements and related MD&A for the periods
ended December 31, 2019 and June 30, 2020 and other disclosures of
"Risk Factors" by the Company and its predecessors, which are filed
with the securities regulatory authorities in certain provinces in
Canada and available on SEDAR. Although the Company has attempted
to identify key factors that could cause actual results to differ
materially, there may be other factors that cause unanticipated and
unintended results. 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.
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