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Kirkland Lake Discoveries Initiates Multi-Parameter Airborne Geophysical Survey at Lucky Strike Prop

Toronto, June 8, 2023 – Kirkland Lake Discoveries Corp. (TSX-V - KLDC) (“KLDC or the “Company”) is pleased to announce the engagement of ALS GoldSpot Discoveries Ltd. (“GoldSpot”) and the initiation of a high-resolution Multi-Parameter Airborne Survey System (“M-PASS”) survey over the newly acquired Lucky Strike property in Kirkland Lake, Ontario, Canada. The results of this state-of-the-art survey will leverage advanced artificial intelligence (AI) to analyze, process and extract insights from the acquired airborne geophysical data.

Figure 1. KLDC’s newly consolidated land package with producing, past-producing and gold mines in development in the Kirkland Lake District.


"With the acquisition of the Lucky Strike property from New Found Gold and the initiation of this high resolution survey over this ground with the well regarded team at GoldSpot, we are embarking on an exhilarating new chapter for our Company," stated Danièle Spethmann, President and CEO, who added, “We look forward to marrying the results of this data with boots-on-the-ground field work which will advance our understanding of the geology and mineralization on the Lucky Strike property, to ultimately better define and refine our drill targets. The exploration team is mobilizing to the field for a targeting and planning session next week."


The airborne survey will cover an area of 115 km2 and will be flown at 50 metre and/or 100 metre line spacing on a north south grid. Final line kilometre spacing will be determined in flight and the total line kilometres flown will range between 1,450 km and ~2,800 km.


The resulting comprehensive data package, custom-designed for this survey, will fuel GoldSpot's proprietary AI processing. Leveraging the immense power of machine learning, the AI system will identify patterns and anomalies within the data, potentially uncovering favourable structures and mineralizing systems with an unparalleled level of accuracy and efficiency.


Shawn Hood, General Manager at ALS GoldSpot Discoveries, shared his enthusiasm, "Our AI technology is primed to process the multiphysics data, transforming it into actionable insights. This partnership not only demonstrates our shared commitment to exploration excellence but also our dedication to embracing digital transformation within the industry."


The initiation of this survey highlights KLDC’s new trajectory and emphasizes the crucial role that technological advancements will play in the future of mineral exploration in Kirkland Lake. With AI technology leading the way, this endeavor seeks to minimize environmental impact, enhance exploration efficiency, and maximize potential benefits for stakeholders.


In addition to this high resolution airborne geophysical survey, fieldwork consisting of prospecting, geological mapping, and sampling has also been initiated. This work is following up on the high-resolution magnetics, VLF, and LiDAR data collected last year by GoldSpot on the western portion of the property (Figure 2).


Figure 2. KLDC property with high-resolution airborne magnetics over the KLW, Goodfish-Kirana and KLC areas and the new M-PASS survey area over the Lucky Strike property.


QP Statement


The technical information contained in this news release has been approved by Mike Kilbourne, P.Geo. who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.


About Kirkland Lake Discoveries Corp.


Kirkland Lake Discoveries Corp (KLDC) 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+ million ounces of gold produced to date.[1] 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 100%-owned Lucky Strike Property, Goodfish-Kirana, the Arnold property, and the optioned KL West (KLW) and KL Central (KLC) 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.

President & CEO

kirklandlakediscoveries.com

+1 416 414 7011

daniele@kirklandlandlakediscoveries.com


The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.


Forward-Looking Statements


Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company.


The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.


Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

[1] 2020 Mineral Production in Canada, Government of Canada, Minerals and Metals Statistics Division, 2022-03-10, https://mmsd.nrcan-rncan.gc.ca/PDF/MIS2020TableG01a-en.pdf

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