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Kirkland Lake Discoveries Completes Inaugural Drill Program at Hurricane Intrusive Zone, Announces Board Change

Press Release

Toronto, Ontario, April 2, 2024 – Kirkland Lake Discoveries Corp. (TSX-V: KLDC | US-OTC: KLKLF) (“KLDC” or the “Company”) is pleased to announce that it has completed its Phase 2 drill program safely and efficiently at the Hurricane Intrusive Zone on the Lucky Strike Property.  A total of thirteen drill holes (Table 1) aggregating 3,376 metres were drilled at six targets, completing the second of three phases previously announced (see July 20, 2023, news release).

The Hurricane Intrusive Zone (Figure 1), which was the subject of prospecting, mapping, and airborne magnetics in 2023, is a geophysical anomaly with copper and gold mineralization associated with intense alteration from syenite intrusive bodies. The drill program (Figure 2) was designed to test the geology and assess the continuity of mineralization observed in outcrop during the summer mapping and prospecting programs.

Figure 1: Property map showing location of the Hurricane Intrusive Zone at the centre of the KL East Side

Figure 2: Hurricane Intrusive Zone geological map with drill collar locations

Table 1

Drill collar locations, orientations and depth of holes at Hurricane Intrusive Zone

Drill Hole #

Easting

Northing

Azimuth

Dip

Total Depth (m)

KLD24-10

593601

5341396

215

-45

250

KLD24-11

593659

5341490

215

-60

400

KLD24-12

594631

5341645

150

-45

231

KLD24-13

594683

5341569

150

-45

138

KLD24-14

592930

5341616

205

-45

192

KLD24-15

592930

5341616

205

-60

262

KLD24-16

593118

5341813

258

-45

164

KLD24-17

593431

5341502

160

-45

327

KLD24-18

593852

5341761

350

-38

296

KLD24-19

594047

5342074

135

-45

394

KLD24-20

594425

5342134

20

-45

302

KLD24-21

594425

5342134

20

-72

96

KLD24-22

593852

5341761

55

-45

324

The Hurricane Intrusive Zone bears similarity to the rocks and mineralization found at Agnico Eagle Mines Limited’s (“Agnico”) Upper Beaver deposit, which is six km to the southwest. Upper Beaver is a gold-copper deposit that is mainly hosted in the Upper Beaver alkalic intrusive complex and the surrounding basalts it intruded. It is associated with disseminated pyrite and chalcopyrite, and magnetite-sulphide veining associated with strong magmatic-hydrothermal alteration. The mineralization occurs as elongated tabular bodies that strike northeast, dip steeply northwest and plunge 65 degrees to the northeast. The mineralization has been defined along a 400m strike length from the surface to a depth of 1,800m and remains open at depth.

Queenston Mining Inc. sold the 1.1-million-ounce (Moz) deposit to Osisko Mining Corp. (“Osisko”) for $550 million in 2012. Osisko, in turn, sold the project to Agnico in 2014 and Agnico has since expanded the resource at Upper Beaver. As at December 31, 2022, Upper Beaver had approximately 1.4 Moz of gold and 20,000 tonnes (t) of copper in underground probable mineral reserves (8.0 Mt grading 5.43 g/t gold and 0.25% copper); 403,000 oz of gold and 5,100 t of copper in underground indicated mineral resources (3.6 Mt grading 3.45 g/t Au and 0.14% copper); and 1.4 Moz Au of gold and 17,300 t of copper in underground inferred mineral resources (8.7 Mt grading 5.07 g/t Au and 0.20% copper). An updated mineral resource for the Upper Beaver Deposit was expected in late 2023 but has yet to be released.[1]

Board Changes

The Company also announces that Steve Burleton has resigned as Director of the Company effective March 29, 2024.  The Company thanks Mr. Burleton for his invaluable contribution and wishes him success in his future endeavours.

QP Statement

Danièle Spethmann, P.Geo., Founder, President, Chief Executive Officer, and Director of the Company, is a Qualified Person as defined by National Instrument 43-101. Ms. Spethmann has reviewed the technical information in this news release and approves the written disclosure contained herein.

About Kirkland Lake Discoveries Corp.

Kirkland Lake Discoveries Corp. is a TSX Venture Exchange-listed company that has recently consolidated a district-scale and highly prospective land package in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are hosted in the Abitibi Greenstone Belt, one of the world’s best-endowed greenstone belts, with 200+ Moz of gold produced to date.[2] The properties are host to regional and property-scale mineralized structures that are considered second-order structures off the Larder Lake Cadillac Deformation Zone (LLCDZ), the regional structure in the belt known to be spatially associated with the gold mines hosted in the camp.

The properties assembled include the Lucky Strike Property, Arnold Property, KL Central, Goodfish-Kirana, and the optioned KL West Properties. The KLDC land position comprises approximately 38,000 ha, over 1,338 claims, and 29 patented claims and ranks the Company as the largest landholder in the Kirkland Lake region.

For additional information, please contact:

Danièle Spethmann, P.Geo.
Founder, President & CEO
kirklandlakediscoveries.com
+1 416 363 0317
daniele@kirklandlakediscoveries.com

IBF4

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