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Mineral Reserves and Resources

Kirkland Lake Gold Mineral Reserves by Asset as of December 31, 2016

empty cell PROVEN PROBABLE PROVEN & PROBABLE

Tonnes
000's
Grade
g/t
Ounces
000's
Tonnes
000's
Grade
g/t
Ounces
000's
Tonnes
000's
Grade
g/t
Ounces
000's
Macassa 610 16.9 332 2,390 21.8 1,670 3,000 20.8 2,010
Taylor 0 0 0 743 5.4 129 743 5.4 129
Holt 1,450 4.2 194 2,500 4.7 376 3,950 4.5 570
Holloway 0 0 0 57 5.7 10 57 5.7 10
Hislop 0 0 0 176 5.8 33 176 5.8 33
Total Canadian Assets 2,060 8.0 526 5,870 11.8 2,220 7,930 10.8 2,750
Fosterville 896 7.9 229 1,280 10.1 414 2,170 9.2 643
NT 98 3.0 9 2,310 2.3 168 2,400 2.3 177
Stawell 0 0 0 2,700 1.5 132 2,700 1.5 132
Total Australian Assets 994 7.5 238 6,280 3.5 713 7,280 4.1 952
Total Reserves 3,050 7.8 764 12,200 7.5 2,940 15,200 7.6 3,700

  1. CIM definitions (2014) were followed in the calculation of Mineral Reserves
  2. Mineral Reserves were estimated using a long-term gold price of US$1,200/oz (C$1,500/oz; A$1,500/oz)
  3. Cut-off grades for Canadian Assets were calculated for each stope, including the costs of: mining, milling, General and Administration, royalties and capital expenditures and other modifying factors (e.g. dilution, mining extraction, mill recovery).
  4. Cut-off grades for Australian Assets from 0.4 g/t Au to 3.1 g/t Au, depending upon width, mining method and ground conditions; Dilution and mining recovery factors varied by property
  5. Mineral Reserves estimates for the Canadian Assets were prepared under the supervision of P. Rocque, P. Eng.
  6. Mineral Reserves estimates for the Fosterville property were prepared under the supervision of Ion Hann, FAusIMM.
  7. Fosterville CIL Residues are stated as Proven contained ounces. Mill recovery of 25% are planned, based on operating performance.
  8. Mineral Reserves estimates for the Northern Territory property were prepared under the supervision of Jason Keily, FAusIMM (CP).
  9. Mineral Reserves estimates for the Stawell property were prepared under the supervision of Ian Holland, FAusIMM.
  10. Totals may not add exactly due to rounding

Kirkland Lake Gold Canadian Assets Mineral Resources As of December 31, 2016

empty cell MEASURED INDICATED MEASURED & INDICATED INFERRED
Tonnes
000's
Grade
g/t
Ounces
000's
Tonnes
000's
Grade
g/t
Ounces
000's
Tonnes
000's
Grade
g/t
Ounces
000's
Tonnes
000's
Grade
g/t
Ounces
000's
Macassa 907 16.2 474 1,570 16.8 849 2,480 16.6 1,320 1,420 20.2 924
Taylor 399 6.0 77 2,360 5.5 416 2,760 5.6 493 1,810 5.4 313
Holt 3,960 4.3 549 3,020 4.1 398 6,970 4.2 947 8,690 4.7 1,320
Holloway 156 4.1 21 1,210 5.4 210 1,370 5.3 231 2,710 5.2 456
Hislop 0 0.0 0 1,150 3.6 132 1,150 3.6 132 797 3.7 95
Aquarius 0 0.0 0 22,300 1.3 926 22,300 1.3 926 9 0.8 0
Canamax 0 0.0 0 240 5.1 39 240 5.1 39 170 4.3 23
Ludgate 0 0.0 0 522 4.1 68 522 4.1 68 1,400 3.6 162
Total 5,420 6.4 1,120 32,400 2.9 3,040 37,800 3.4 4,160 17,000 6.0 3,300

  1. CIMM definitions (2014) were followed in the calculation of Mineral Resource
  2. Mineral Resources are reported Exclusive of Mineral Reserves
  3. Mineral Resource estimates were prepared under the supervision of D. Cater, P. Geo. Vice President Exploration Canada
  4. Canadian Assets consist of Macassa, Holt, Taylor, Holloway, Canamax, Ludgate, Hislop, Aquarius
  5. Mineral Resources are estimated using a long-term gold price of US$1,200/oz (C$1,500/oz)
  6. Mineral Resources were estimated using a 8.57 g/t cut-off grade for Macassa, a 2.9 g/t cut-off grade for Holt, and a 2.6 g/t cut-off grade for Taylor, a 3.9 g/t cut-off grade (Holloway), a 2.5 g/t cut-off grade for Canamax and Ludgate, a 2.2 g/t cut-off grade for Hislop and 0 g/t cut-off grade for Aquarius
  7. Totals may not add exactly due to rounding

Kirkland Lake Gold Australian Assets Mineral Resources As of December 31, 2016

empty cell MEASURED INDICATED MEASURED & INDICATED INFERRED
Tonnes
000's
Grade
g/t
Ounces
000's
Tonnes
000's
Grade
g/t
Ounces
000's
Tonnes
000's
Grade
g/t
Ounces
000's
Tonnes
000's
Grade
g/t
Ounces
000's
Fosterville 2,760 4.8 427 12,600 5.8 2,360 15,300 5.7 2,790 5,400 4.6 792
Northern Territory 2,520 4.2 344 28,200 2.0 1,840 30,700 2.2 2,180 15,100 2.3 1,110
Stawell 81 3.7 10 3,620 2.0 236 3,700 2.1 246 1,130 2.9 104
Total 5,360 4.5 781 44,400 3.1 4,440 49,700 3.3 5,220 21,700 2.9 2,000

  1. CIM definitions (2014) were followed in the estimation of Mineral Resource.
  2. Mineral Resources are estimated using a long-term gold price of US$1,200/oz (A$1,500/oz)
  3. Mineral Resources for the Australian assets are reported Inclusive of Mineral Reserves.
  4. Mineral Resources at Fosterville were estimated using cut-off grades of 0.7 g/t Au for oxide and 1.0 g/t Au for sulfide mineralization to potentially open-pitable depths of approximately 100m, below which a cut-off grade of 3.0 g/t Au was used.
  5. Carbon-In-Leach Residues at Fosterville is stated as contained ounces – 25% recovery is expected based on operating performances.
  6. Mineral Resources in the Northern Territory were estimated using a cut-off grade of 0.5 g/t Au for potentially open-pitable mineralization and cut-offs of 1.5 to 2.0g/t Au for underground mineralization.
  7. Mineral Resources at the Stawell property were estimated using a 0.35g/t Au cut-off grade for potentially open-pitable mineralization and a range of cut-offs (2.0 to 2.3 g/t Au) for underground mineralization.
  8. Mineral Resource estimates for the Fosterville property were prepared under the supervision of Troy Fuller, MAIG.
  9. Mineral Resource estimates for the Northern Territory properties, excluding the Maud Creek Deposit, were prepared under the supervision of Mark Edwards, FAusIMM (CP).
  10. Mineral Resource estimates for the Maud Creek property in the Northern Territory, was prepared by Danny Kentwell, FAusIMM.
  11. Mineral Resource estimates for the Stawell property were prepared under the supervision of John Winterbottom, MAIG.
  12. Totals may not add up due to rounding.