TSX / AIM: KGI GOLD PRODUCTION RAMP UP IN ONTARIO HIGH GRADE CAMP SEPTEMBER 2012 TSX / AIM: KGI
TSX / AIM: KGI
GOLD PRODUCTION RAMP UP
IN ONTARIO HIGH GRADE CAMP SEPTEMBER 2012
TSX / AIM: KGI
KIRKLAND LAKE GOLD INC.CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This presentation may contain statements which constitute ‘forward-looking statements’ within the
meaning of the Private Securities Litigation Reform Act of 1995 of the United States of America,
including statements regarding the plans, intentions, beliefs and current expectations of the Company,
its directors, or its officers 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, or its management, are
intended to identify such forward-looking statements. Investors are cautioned that any such forward-
looking statements are not guarantees of future business activities or performance and involve risks and
uncertainties, and that the Company’s future business activities may differ materially from those in the
forward-looking statements as a result of various factors. Such risks, uncertainties and factors are
described in the Company’s periodic filings with the Securities and Exchange Commission, including the
TSX / AIM: KGI
described in the Company’s periodic filings with the Securities and Exchange Commission, including the
Company’s annual report on Form 20-F and current report on Form 6-K, which may be viewed on
EDGAR at www.sec.gov, and its periodic filings with the Canadian securities regulatory authorities,
including the Company’s Annual Information Form and quarterly and annual Management’s Discussion
& Analysis, which may be viewed on SEDAR at www.sedar.com. 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.
2
MANAGEMENT AND EXECUTIVE BOARD MEMBERS
HARRY DOBSONCHAIRMAN
• Decades of experience in mining capital markets
• Cofounder of Kirkland Lake Gold with Brian Hinchcliffe
• Built two mining companies with partner Brian
Hinchcliffe: American Pacific Mining which was sold to
Breakwater Resources and Jordex Resources, where the
nickel asset was sold to the Anglo American Corporation
BRIAN HINCHCLIFFEPRESIDENT, CEO AND DIRECTOR
• Over thirty years experience in the development of
mining projects and companies
• 10 years working at J Aron Goldman Sachs as a
metals trader
• Cofounder of Kirkland Lake Gold, American Pacific
Mining, and Jordex Resources with Harry Dobson
TSX / AIM: KGI
MARK TESSIERCOO AND DIRECTOR
• Directed underground mine expansion and production at
Goldcorp’s Red Lake Mine, a new discovery in a historic camp
resulting in 2.8 million ounces of production over 6 years
• BSc. in Mining Engineering with Honours from Queens
University
• Also worked at the Denison Mine in Elliot Lake, the Dome
Mine in Timmins, the Golden Giant Mine at Hemlo, and for JS
Redpath Limited
JOHN THOMSONCFO AND DIRECTOR
• Eight years various senior level experience in mining
and resource companies
• Variety of senior level positions with companies such
as PepsiCo
• Chartered Accountant who has studied at INSEAD
3
KIRKLAND LAKE GOLD PROFILE
OWNERSHIPEuropean institutions 30%
North American institutions 33%
LISTINGSKGI – Toronto (TSX)
KGI – London (AIM)
SHARES OUTSTANDING70,100,112 Basic
71,782,412 Fully diluted
52 WEEK RANGE$21.31 52 week high
$9.83 52 week low
TSX / AIM: KGI
North American institutions 33%
Management and Insiders 24%
Retail 13%
ANALYST COVERAGENational Bank Financial
Dundee Securities
CIBC World Markets
Macquarie Capital Markets
Desjardins Securities
Investec Bank
Panmure Gordon
Ocean Equities
$9.83 52 week low
MARKET CAP$860 million
(July 27, 2012, $12.15)
CASH BALANCEC$47.7 million
(September 6, 2012)*84% held as Government of
Canada Treasury Bills. The
significant change in the cash
balance is primarily due to the $20.0
million payment made to Queenston
on August 30, 2012 to complete the
acquisition of the joint venture
properties
MINE GOLD OUNCES
RECOVERED
GOLD OUNCES
PER TON
Wright-Hargreaves 4,821,296 0.49
Lake Shore 8,602,791 0.50
Teck Hughes 3,709,007 0.38
Kirkland Minerals 1,172,955 0.37
Macassa 3,569,253 0.44
Total – 1917 to 2004 21,875,302 0.44 (15.1 g/t)
4
• KGI will gradually become liable to full tax rate throughout the second half of
FY 2013 as brought forward losses are fully utilized
• Canada has progressively decreased the Federal Tax from 25% to 15%
commencing 2012. Ontario Provincial Tax is 12.5% for a combined tax of
approximately 27%
CANADA: LOW POLITICAL RISK; FISCALLY ATTRACTIVE
Canada – politically safe; one of the lowest tax rate
in first world mining jurisdictions
TSX / AIM: KGI
approximately 27%
– Recent Ontario budget announcements suggest certain fiscal advantages
currently being extended to mining companies may be gradually reduced
• Canada remained the top destination for global exploration over last few
years, attracting 16% of world spending, gold exploration expenditures in
2011 totalled 1 B
• Capital expenditures spent developing Canada’s mining properties totalled
$8.2 B in 2009
5
KL GOLD PROPERTY POSITION - $20 M PURCHASE PRICE +
LOW CAPEX EXPANSION
#3 SHAFT #2 SHAFT
TSX / AIM: KGI
3400 L
3800 L
4250 L4500 L
4750 L5025 L5300 L
5700 L
7000 L
2475 L
3000 L 3075 L
6
SOUTH MINE COMPLEX
KGI CORPORATE STRATEGY & OBJECTIVESBUILD RESERVES AND RESOURCES to 5+ MILLION OUNCES AND EXPAND PRODUCTION
CURRENT PRODUCTION GROWTH (MAY 1 – APRIL 30 FISCAL YEAR)
• FY 2012 (ended April 30, 2012) 100,275 ozs @ 0.37 opt or 12.7 gpmt
• FY 2012 Net income $41.3 M or $0.58/share
• FY2013 (Current) 180,000 – 200,000 ozs (CY May 1, 2012 – April 30, 2013)
• FY 2014-16 250,000 – 300,000 ozs (Begins CY May 1, 2013)
EXPANSION CAPEX SIGNIFICANTLY LOWERED BY USE OF EXISTING INFRASTRUCTURE
• Target strong return on total capital deployed
• 300% increase to hoisting capacity to 3,000 tpd using existing shaft, will support future
TSX / AIM: KGI
• 300% increase to hoisting capacity to 3,000 tpd using existing shaft, will support future
production levels
• Production growth from 50,000 ounces per year to 300,000 ounces per year will cost
$95 M, of which $64.9 M has been spent (as of July 31, 2012)
ACQUISITION OF QUEENSTON’S JV OFFERS PROSPECT OF NEXT HIGH GRADE OUNCES
• $60 M CAD purchase price paid in three tranches
• $10 M paid upon signed agreement, $20 M paid on August 30, 2012 closing date, $30 M on
December 3, 2012
7
200
250
300
350
200,000
250,000
300,000 CO
ST
S P
ER
TO
N (C
AD
$)
GOLD PRODUCTION FORECAST IN FISCAL YEARS COST PER TON
GO
LD R
EC
OV
ER
ED
(O
UN
CE
S)
OPERATING COSTS TO DECREASE WITH INCREASED TONNAGE
AND EFFICIENCIES
TSX / AIM: KGI
0
50
100
150
200
0
50,000
100,000
150,000
2011 2012 2013 2014 2015 2016
Gold Recovered Ounces
Cost Per Ton($)
CO
ST
S P
ER
TO
N (C
AD
$)
Fiscal Year Runs from May 1 – April 30
GO
LD R
EC
OV
ER
ED
(O
UN
CE
S)
8
SHAFT INFRASTRUCTURE
•Refurbish manway
•Install guides, tightlining
and brattice (#3 and #4
compartment)
•Install Ground SupportCage
Primary Hoist
(Upgrade)
Headframe
Reinforcement
TSX / AIM: KGI
Secondary Hoist
(New Installation)
51 Loading Pocket•Automation
•Upgrade
•Install Ground Support
•Add Fiber Optic Cables
•Relocate Drain Lines
•Relocate/Install Electrical
Cables
•Replace Guides (#1 and
#2 compartment)
•Add Air Line
•Upgrade 10 ton skips to
12.5 ton skips
Levels upgrade•Track
•Fire Doors / Station Doors
•Rehab
Skip
14 t.
Cage
Skip
14 t.
9
MILL UPGRADE
TSX / AIM: KGI 10
BATTERY POWERED SCOOPS SAVE $60+ M
IN VENTILATION CAPEX
TSX / AIM: KGI 11
TRAINING INVESTMENT & EMPLOYEE AGE DEMOGRAPHICS
80
100
120
140
160
69
149
138
104 102 100
89
75
TSX / AIM: KGI
18-21 22-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65+ Total
30 69 149 138 104 102 100 89 75 40 11 907
0
20
40
60
80
18-21 22-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65+
30
69
40
11
12
LABOUR COSTS 60+%
TRAINING, SAFETY AND PRODUCTIVITY
EMPLOYEE RETENTION PROGRAMS
• Competitive wage and bonus structure
• 7 day on, 7 day off work schedule
• Company family doctor
• Mine located in the town of Kirkland Lake
• Housing initiatives
• 2012 retention rate of 94%
SAFETY AWARDS
Recipient of the Provincial 2008 and 2010
Excellence in Safety Award for lowest accident
frequency for Underground Mines
TSX / AIM: KGI
HIRING AND TRAINING
• 216 people hired in FY 2012
• Total number of employees as of April 30,
2012 is 907 – up from 250 in 2008
RESUME FLOW
13
100
200
300
400
500
600
May June July
# of Resumes
Resumes
MINER PROMOTIONS
• 212 promotions to Miner 2 or Miner 1 in FY
2012
KGI has
invested
~$250 M on
the
development
of its gold
By FY 2014, KL Gold is
expecting to produce +250,000
ounces of gold at ~$700/ounce
cash costs. Assuming a $1,500
gold price, KGI would be
generating over ~$200 M of
High return
on capital
each year of
EMPHASIS ON RETURN ON INVESTMENT AND CAPITAL
DEPLOYED
TSX / AIM: KGI
of its gold
properties
generating over ~$200 M of
margin each year.
each year of
production
14
KIRKLAND LAKE GOLD CAMP PAID $117,189,112 IN DIVIDENDS
FROM 1934 - 1941
Year Lake Shore
Mines
Teck Hughes
Gold Mines
Wright
Hargreaves
Mines
Kirkland
Minerals
Macassa
Mines
Total
1934 7,000,000 2,643,929.20 3,025,000 157,173.69 131,403.40 13,930,881.29
1935 8,000,000 1,922,857.60 3,300,000 157,173.69 396,710.20 14,584,641.49
1936 10,000,000 2,163,214.80 3,300,000 316,974.66 401,710.20 16,989,799.66
TSX / AIM: KGI
1936 10,000,000 2,163,214.80 3,300,000 316,974.66 401,710.20 16,989,799.66
1937 12,000,000 2,403,572.00 3,850,000 479,402.91 535,613.60 20,259,963.51
1938 8,000,000 2,163,214.80 3,850,000 532,669.90 669,517.00 16,299,276.70
1939 7,500,000 2,067,071.92 3,850,000 532,669.90 870,372.10 15,940,988.92
1940 4,000,000 2,163,214.80 3,850,000 639,203.88 937,323.80 12,949,592.48
1941 3,100,000 1,922,857.60 4,001,250 585,936.89 937,323.80 11,804,228.29
Total 34,220,000 20,402,215 30,401,250 3,41,207 4,879,544 117,189,112
15
SOUTH MINE COMPLEX RESERVE/RESOURCE GROWTHDISCOVERY HOLE 90 FEET OF 2.30 OUNCES OF GOLD
300000
400000
500000
600000
700000
800000
900000
P+P RESERVE
M+I RESOURCES
INF RESOURCES
Grade Reported In Oz/Ton as at Dec 31st, 2011
0.66
0.630.64
0.79
0.67
0.74
0.76
0.65
0.76
0.84
0.63
0.74
0.790.78
OU
NC
ES
TSX / AIM: KGI
See Kirkland Lake news release dated May 30th, 2012, a copy of which has been filed on SEDAR for further particulars. The contents of the
above slide have been verified and approved by the Company’s Chief Exploration Geologist, Stewart Carmichael, P.Geo, a “qualified
person” for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral projects.
CATEGORY (CAL 2011) TONS GRADE (OPT) GRADE (G/mT) OUNCES
Proven
Probable
229,000
1,044,000
0.52
0.67
17.8
23.0
119,000
697,000
Measured
Indicated
14,000
1,228,000
0.24
0.63
8.2
21.6
3,000
777,000
Inferred 1,000,000 0.66 22.6 662,000
16
0
100000
200000
FY 2008 FY 2009 FY 2010 CAL 2010 CAL 2011
0.63
0.66
MINE WIDE RESERVE/RESOURCE GROWTH
Grade Reported In Oz/Ton as at December 31st, 2011
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
P+P RESERVE
M+I RESOURCES
INF RESOURCES
OU
NC
ES
0.51
0.47
0.510.55
0.48
0.58
0.56
0.47
0.60
0.54
0.440.59
0.54
0.41
0.61
TSX / AIM: KGI
CATEGORY (CAL 2011) TONS GRADE (OPT) GRADE (G/mT) OUNCES
Proven
Probable
1,269,000
1,615,000
0.42
0.58
14.4
19.9
539,000
934,000
Measured
Indicated
1,070,000
2,364,000
0.40
0.51
13.7
17.5
424,000
1,199,000
Inferred 1,971,000 0.51 17.5 1,004,000
See Kirkland Lake news release dated May 30th, 2012, a copy of which has been filed on SEDAR for further particulars. The contents of the
above slide have been verified and approved by the Company’s Chief Exploration Geologist, Stewart Carmichael, P.Geo, a “qualified
person” for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral projects.
17
0
200,000
400,000
FY 2008 FY 2009 FY 2010 CAL 2010 CAL2011
KL GOLD PLAN VIEW PRIOR TO QUEENSTON ACQUISITON
TSX / AIM: KGI 18
KL GOLD PLAN VIEW AFTER QUEENSTON ACQUISITON
10 KMS OF STRIKE LENGTH & 100% CONTROL OF 5 KM AMALGAMATED BREAK
TSX / AIM: KGI 19
SOUTH CLAIMS HIGH GRADE RESOURCES
TSX / AIM: KGI
See Kirkland Lake news release dated April 5th, 2011, a copy of which has been filed on SEDAR for further particulars
The contents of the above slide have been verified and approved by the Company’s Chief Exploration Geologist, Stewart Carmichael,
P.Geo, a “qualified person” for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral projects.
20
MAY 2011: 8.14 OUNCES OF GOLD OVER 47 FEET TRUE WIDTH ANNUAL EXPLORATION SPEND $18 M
TSX / AIM: KGI 21
FIRST DRILLING ON FORMER JV CLAIMS RETURN HIGH-
GRADE RESULTS
TSX / AIM: KGI 22
HIGH GRADE DEPOSIT
• Proven + Probable: 1,473,000 ozs @ 0.51 opt or 17.5 gpmt
• Measured + Indicated: 1,623,000 ozs @ 0.47 opt or 16.1 gpmt
• Inferred: 1,003,000 ozs @ 0.51 opt or 17.5 gpmt
GROWING YEARLY PRODUCTION AND CASH FLOW, DECLINING CASH COSTS
• Building yearly production to 250,000 – 300,000 ozs by start of FY 2014 (May 1, 2013)
• Cash costs to decrease once higher tonnage rate is sustained (1,600 tpd by November 2012, 2,200 tpd by
May 2013)
• Strong return on capital deployed, return on investment
POSITIONED FOR GROWTH
TSX / AIM: KGI
• Strong return on capital deployed, return on investment
• Low expansion capex due to use of existing infrastructure
• $64.9 M of expansion capital spent as of July 31, 2012
EXCELLENT EXPLORATION POTENTIAL IN PROLIFIC HISTORIC CAMP
• New high grade discovery (SMC) in historic camp; different geologic setting than quartz vein hosted Main
Break, which produced 21.8 M ounces of gold
• Exploration programs focused on SMC, West of SMC, newly acquired JV claims, surface programs and
more
• Acquisition of Queenston’s JV properties: SMC extends onto the new properties and the potential for
defining new ounces is considered excellent
POLITICALLY SAFE JURISDICTION, FULLY PERMITTED
23
CONTACTFOR FURTHER INFORMATION PLEASE CONTACT:
Brian Hinchcliffe
President , CEO and Director
705-567-5208
TSX / AIM: KGI
John Thomson
CFO and Director
705-567-5208
Lindsay Carpenter
Director of Investor Relations
416-840-7884