Kirkland Lake Discoveries Signs Definitive Agreement to Acquire the Mirado Project with Historical Gold Inferred Resource of 10.6 Mt at 1.29 g/t for 442,000 oz
Press Release
Toronto, ON – December 18, 2025 – Kirkland Lake Discoveries (TSX-V: KLDC, OTCID: KLKLF) (“KLDC” or the “Company”) is pleased to announce that it has entered into a definitive agreement dated December 16, 2025 (the “Purchase Agreement”) with Orecap Invest Corp. (“Orecap”) providing for the acquisition of the Mirado Gold Project, a 2,500-hectare property hosting an inferred historical resource of 10.6 Mt at 1.29 g/t for ~442,000 oz Au with strong opportunities for near-resource expansion and regional discovery.
Transaction Highlights
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~442,000 oz of historical ounces added to the KLDC portfolio (10.6 Mt @ 1.29 g/t inferred)
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Very limited exploration below 150 m at past-producing Mirado Mine
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Untested IP anomaly suggests potential of mineralization at depth
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High-grade historical surface samples highlight regional exploration upside
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All-share transaction preserves capital for continued exploration at KL West
Located approximately 15 km south of the Company’s flagship claim package (Figure 1), the Mirado acquisition enhances the Company’s exploration pipeline while maintaining full commitment to advancing its high-priority targets within its core land position.
“In a market with gold trading near all-time highs, this transaction provides meaningful strategic optionality for our shareholders without distracting from our primary focus. Mirado represents a potential starter-scale asset and a district-scale exploration opportunity, while preserving our ability to aggressively pursue new discoveries at KL West, where a second drill rig has recently been mobilized,” stated Stefan Sklepowicz, CEO of Kirkland Lake Discoveries.
“We are pleased to convert our interest in Mirado into a significant equity position in Kirkland Lake Discoveries. We believe the KLDC team has the technical expertise and energy to unlock value at Mirado, while their flagship KL West projects offer our shareholders exposure to significant discovery potential. This transaction aligns perfectly with Orecap’s strategy of backing high-growth exploration teams in prolific districts,” commented Stephen Stewart, Chairman and CEO of Orecap.
Figure 1: Updated property map including recent transaction to bring in the Mirado property which is now part of KL South.
Historical Mineral Resource and Technical Studies
Historical technical work at the Mirado Gold Project includes a Mineral Resource Estimate prepared by SRK Consulting in 2013 (report on Sedar+), which reported an inferred mineral resource of 10.6 Mt grading 1.29 g/t Au, containing approximately 442,000 oz Au. The estimate incorporated open-pit, underground, and stockpile material using cutoff grades of 0.45 g/t Au (open pit) and 2.0 g/t Au (underground and stockpiles). These mineral resource estimates are historical in nature and should not be relied upon. A Qualified Person has not completed sufficient work to classify them as current mineral resources.
IBF4
