KIRKLAND LAKE GOLD REPORTS RECORD ANNUAL AND QUARTERLY PRODUCTION

KIRKLAND LAKE GOLD REPORTS RECORD ANNUAL AND QUARTERLY PRODUCTION Trnt, Ontari January 11, 2018 - Kirkland Lake Gld Ltd. ( Kirkland Lake Gld r the Cmpany ) (TSX:KL) (NYSE:KL) (ASE:KLA) tday annunced recrd annual and quarterly prductin fr the full-year and furth quarter ( Q4 2017 ) f 2017, respectively. Cmparative infrmatin fr the full-year and furth quarter ("Q4 2016") f 2016 includes results fr the Fsterville, Csm and Stawell mines prir t the merger between Kirkland Lake Gld Inc. and Newmarket Gld Inc. n Nvember 30, 2016 and results fr the Hlt and Taylr mines prir t the acquisitin f St. Andrew Gldfields Ltd n January 26, 2016. All dllar amunts are expressed in U.S. dllars, unless therwise nted. Highlights f 2017 and Q4 2017 perating results: Cnslidated full-year 2017 prductin f 596,405 unces, beating imprved guidance f 580,000 595,000 unces Recrd full-year prductin at all perating mines, including 263,845 unces at Fsterville, 194,237 unces at Macassa, 66,677 unces at Hlt and 50,764 unces at Taylr Cnslidated quarterly prductin in Q4 2017 ttaling 166,579 unces, a 9% increase frm Q4 2016 and 20% higher than Q3 2017 Recrd quarterly prductin in Q4 2017 at Fsterville (79,157 unces), Hlt (19,263 unces) and Taylr (16,538 unces), secnd best quarter ever at Macassa (51,608 unces). Other 2017 highlights: Strng grwth in mineral reserves Fsterville mineral reserves mre than dubled in 2017 t 1,030,000 unces at an average grade f 17.9 grams per tnne ( g/t ) Macassa mineral reserves increased 37% t 2,010,000 unces at an average grade f 20.8 g/t Imprved balance sheet strength Cash and cash equivalents f apprximately $230 millin at December 31, 2017 Debt eliminated: 6.0% cnvertible debentures repaid June 30, 2017; 7.5% cnvertible debentures matured December 31, 2017 (cnverted int 4,505,393 cmmns shares) Industry-leading sharehlder returns KL tp perfrming stck n S&P/TSX Cmpsite Index in 2017 with share price increasing 174.5% (fr full-year 2017) Quarterly dividend payment annunced in March, dubled t $0.02/share fr January 15, 2018 payment 5.4 millin cmmn shares repurchased fr C$76.5 millin thrugh nrmal curse issuer bid Tny Makuch, President and Chief Executive Officer f Kirkland Lake Gld, cmmented: We had a successful year in 2017, achieving recrd results at all f ur perating mines, beating ur imprved cnslidated prductin guidance, which had been increased three times during the year, and reprting slid grwth in mineral reserves. Particularly encuraging was ur strng finish t the year, with Q4 2017 being ur best quarter ever fr prductin. Leading the way was Fsterville, where full-year prductin increased 74% frm the previus year, and recrd furth quarter results reflected an average grade f 21.5 g/t, by far the highest quarterly average ever achieved by the mine. Over the last year, Fsterville has jined ur Macassa mine as ne f the wrld s highest-grade gld prducers, with mineral reserve unces and the average reserve grade mre than dubling and annual prductin capacity increasing t ver a quarter millin unces per year, with mre grwth t cme. 1

Lking ahead, we plan t keep building mmentum thrugh additinal prductin grwth, imprved unit csts, as well as further increases t mineral reserves and resurces based and cntinued explratin success. We will als remain fcused n generating sharehlder returns thrugh cntinued peratinal effectiveness, strng financial perfrmance and disciplined investment fr future grwth. In additin, we ffer a cmpetitive quarterly dividend, with grwth ptential, and will be pprtunistic when it cmes t future share repurchases. Supprting all f ur activities is a strng balance sheet, with cash and cash equivalents f apprximately $230 millin at December 31, 2017 and n debt. Furth Quarter and Full-Year 2017 Operating Results Q4 2017 Q4 2016 Q3 2017 FY 2017 FY 2016 Fsterville Ore Milled (tnnes) 118,877 176,242 143,326 547,476 693,066 Grade (g/t Au) 21.5 8.5 14.1 15.8 7.6 Recvery (%) 96.3 92.4 94.7 95.0 90.1 Gld Prductin (zs) 79,157 44,406 61,535 263,845 151,755 Macassa Ore Milled (tnnes) 119,130 102,288 93,391 409,065 396,633 Run-f-Mine 119,130 74,745 92,377 387,054 331,353 Lw-Grade n/a 27,543 1,014 22,011 65,280 Grade (g/t Au) 13.9 16.3 16.5 15.2 14.1 Run-f-Mine 13.9 21.6 16.6 16.0 16.5 Lw-Grade n/a 2.3 2.0 1.6 2.0 Recvery (%) 96.8 97.6 97.4 97.1 97.1 Gld Prductin (zs) 51,608 52,318 48,206 194,237 175,167 Hlt Ore Milled (tnnes) 127,493 113,499 124,394 462,987 416,048 Grade (g/t Au) 5.0 4.6 4.5 4.7 4.5 Recvery (%) 94.9 94.5 94.5 94.8 94.5 Gld Prductin (zs) 19,263 15,761 16,995 66,677 57,086 Taylr Ore Milled (tnnes) 89,297 48,254 71,897 292,003 199,231 Grade (g/t Au) 6.0 6.7 5.0 5.6 6.9 Recvery (%) 96.2 96.1 95.5 96.2 96.5 Gld Prductin (zs) 16,538 10,048 11,066 50,764 42,639 Operatins n Care & Maintenance 2 Csm Gld Prductin (zs) n/a 13,307 1,290 20,595 55,765 Hllway Gld Prductin (zs) 13 9,825 n/a 287 28,135 Stawell Gld Prductin (zs) n/a 6,971 n/a n/a 32,204 Gld Prductin (excluding peratins n care and maintenance r sld in 2017) 166,566 122,533 137,801 575,523 426,647 Ttal Cnslidated Prductin (zs) 166,579 152,636 139,091 596,405 542,751 1) The Cmpany s Csm Mine in Australia was placed n care and maintenance effective June 30, 2017 (see News Release dated May 4, 2017). The Cmpany s Hllway Mine in Canada was transitined t care and maintenance effective December 31, 2016 (see News Release dated December 12, 2016). The Cmpany s Stawell Mine in Australia was put n care and maintenance effective December 13, 2016 (see News Release dated December 12, 2016) and was subsequently sld n December 21, 2017 (see News Release dated December 11, 2017). 2) Prductin numbers may nt add t ttal due t runding. 2

Perfrmance Against Full-Year 2017 Prductin Guidance Canadian Mines Australian Mines Macassa Hlt Taylr Fsterville Csm Cnslidated 2017 Guidance (,000 zs) 190 195 65 70 50 55 250 260 20 580 595 2017 Prductin (zs) 194,237 66,677 50,764 263,845 20,595 596,405 Full-year 2017 prductin frm currently perating mines ttaled 575,523 unces, an increase f 35% frm cmparable full-year 2016 levels. Including prductin frm mines currently n care and maintenance, including the Stawell mine, which was sld n December 21, 2017, ttal cnslidated prductin fr 2017 ttaled 596,405 unces, 10% higher than the 542,751 unces prduced in 2016. Ttal prductin frm mines n care and maintenance (including Stawell prir t its sale) ttaled 20,882 unces in 2017 cmpared t 116,104 unces in 2016. Prductin in Q4 2017 frm perating mines ttaled 166,566 unces, an increase f 36% frm cmparable prductin f 122,533 unces in Q4 2016 and 21% higher than the 137,801 unces prduced the previus quarter. Including prductin frm Csm, Hllway and Stawell, ttal cnslidated prductin in Q4 2017 ttaled 166,579 unces, a 9% increase frm Q4 2016 and 20% higher than Q3 2017. Review f Operating Mines Fsterville The Fsterville Mine achieved a recrd quarter in Q4 2017, prducing 79,157 unces f gld, an increase f 78% frm 44,406 unces in Q4 2016 and 29% frm 61,535 unces the previus quarter. The average grade fr the quarter f 21.5 g/t was the highest average quarterly grade ever reprted by the mine, and cmpared t average grades f 8.5 g/t in Q4 2016 and 14.1 g/t in Q3 2017. A ttal f 118,877 tnnes were prcessed during Q4 2017 with average recveries f 96.3%, which cmpared t 176,242 tnnes and average recveries f 92.4% in Q4 2016 and 143,326 tnnes at average recveries f 94.7% the previus quarter. The lwer ttal tnnes cmpared t bth prir perids reflected a fcus n maximizing the extractin f higher-grade stpes within the Lwer Phenix system during Q4 2017. Fr full-year 2017, Fsterville prduced a recrd 263,845 unces, a 74% increase frm full-year 2016 prductin f 151,755 unces. A ttal f 547,476 tnnes was prcessed in 2017 at an average grade f 15.8 g/t and average recveries f 95.0%, which cmpared t 693,066 tnnes at an average grade f 7.6 g/t and average recveries f 90.1% the prir year. During 2017, undergrund mineral reserves mre than dubled at Fsterville, t 1,030,000 unces, with the average undergrund mineral reserve grade increasing t 17.9 g/t, which cmpared t 490,000 unces at an average grade f 9.8 g/t as at December 31, 2016. Macassa The Macassa Mine prduced 51,608 unces f gld in Q4 2017, the mine s secnd-best quarter f prductin ever. Prductin at Macassa in Q4 2017 cmpared t recrd quarter prductin f 52,318 unces in Q4 2016 and 48,206 unces in Q3 2017. A ttal f 119,130 tnnes were milled during Q4 2017 at an average grade f 13.9 g/t with average recveries f 96.8%, which cmpared t 102,288 tnnes at an average grade f 16.3 g/t and recveries f 97.6% in Q4 2016 and 93,391 tnnes at an average grade f 16.5 g/t and average recveries f 97.4% the previus quarter. The imprvement in prductin frm Q3 2017 reflected higher run-f-mine tnnes prcessed, which mre than ffset the impact f lwer average grades as a small number f high-grade stpes did nt perfrm as expected. 3

Fr full-year 2017, prductin at Macassa was a recrd 194,237 unces, a 11% increase frm full-year 2016 prductin f 175,167 unces. A ttal f 409,065 tnnes was prcessed in 2017 at an average grade f 15.2 g/t and average recveries f 97.1%, which cmpared t 396,633 tnnes at an average grade f 14.1 g/t and average recveries f 97.1% the prir year. A 17% increase in run-f-mine tnnes prcessed mre than ffset a significant reductin in tnnes prcessed frm lw-grade stckpiles in accunting fr the increase in ttal mill thrughput. The higher vlume f run-f-mine tnnes als accunted fr the imprvement in the average grade year ver year. Hlt During Q4 2017, the Hlt mine achieved recrd quarterly prductin f 19,263 unces, representing increases f 22% frm Q4 2016 and 13% frm the previus quarter, mainly reflecting a cmbinatin f higher thrughput and an imprved average grade cmpared t bth prir perids. A ttal f 127,493 tnnes at an average grade f 5.0 g/t was prcessed frm the Hlt Mine at the Hlt Mill during Q4 2017, cmpared t 113,499 tnnes at an average grade f 4.6 g/t fr the same perid a year earlier and 124,394 tnnes at an average grade f 4.5 g/t in Q3 2017. Recveries averaged 94.9% in Q4 2017, which cmpared t average recveries f 94.5% fr bth Q4 2016 and Q3 2017. Prductin at Hlt fr full-year 2017 was a recrd 66,677 unces, based n prcessing a ttal f 462,987 tnnes at and average grade f 4.7 g/t and average recveries f 94.8%. Prductin in 2017 increased 17% frm 57,086 unces in 2016, when 416,048 tnnes were prcessed at an average grade f 4.5 g/t and average recveries f 94.5 g/t. Higher prductin reflected a significant increase in tnnes prcessed due primarily t imprved stpe prductivity, a new mining hrizn being accessed in Zne 6 and favurable sequencing. Taylr Gld prductin frm the Taylr Mine during Q4 2017 ttaled 16,538 unces, based n 89,297 tnnes prcessed at an average grade f 6.0 g/t and average recveries f 96.2%. Q4 2017 prductin cmpared favurably t prductin f 10,048 unces in Q4 2016, based n prcessing 48,254 tnnes at an average grade f 6.7 g/t and average recveries f 96.1%, and prductin f 11,066 unces in Q3 2017, based n 71,897 tnnes prcessed at an average grade f 5.0 g/t and average recveries f 95.5%. The increase in ttal tnnes prcessed frm Q4 2016 largely reflected the additin f a number f stpes t the mine plan fr the secnd half f 2017, while average grades reflected mine sequencing. The increase in prductin frm the previus quarter was mainly due t higher tnnes, which mre than ffset a reductin in the average grade. Prductin at Taylr fr full-year 2017 ttaled 50,764 unces, an increase f 19% frm the 42,639 unces prduced in 2016. A ttal f 292,003 tnnes were prcessed in 2017 at an average grade f 5.6 g/t and average recveries f 96.2%, which cmpared t ttal tnnes prcessed f 199,231 tnnes at an average grade f 6.9 g/t and average recveries f 96.5% in the prir year. The significant increase in tnnes prcessed reflected a higher number f stpes available fr mining, while the reductin in the average grade was cnsistent with planned stpe grades. Csm On June 30, 2017, Kirkland Lake Gld suspended peratins at the Csm Mine with the Mine being placed n care and maintenance. N prductin was recrded frm Csm in Q4 2017, which cmpared t prductin f 13,307 unces in Q4 2016 (frm prcessing 157,770 tnnes at an average grade f 2.8 g/t and average recveries f 94.5%) and 1,290 unces in Q3 2017 (frm prcessing 15,243 tnnes f stckpiled material at an average grade f 2.8 g/t and average recveries f 94.9%). Fr full-year 2017, a ttal f 20,595 unces was prduced at Csm frm prcessing 259,729 tnnes at an average grade f 2.6 g/t and average recveries f 95.0%, which cmpared t prductin f 55,765 unces in 2016 frm prcessing 646,848 tnnes at an average grade f 2.9 g/t and average recveries f 93.6%. 4

Sale f Stawell Gld Mines Pty Ltd. On December 21, 2017, the Cmpany cmpleted a transactin t sell t an affiliate f Arete Capital Partners Ltd. ( Arete ) all the issued and utstanding cmmn shares f its indirectly held whlly wned subsidiary, Stawell Gld Mines Pty Ltd., which hlds the Stawell mine. Pursuant t the terms f the transactin, the Cmpany received $6.25 millin in cash cnsideratin upn clsing and retains a 2.5% net smelter return ryalty n the Stawell mine. Nrmal Curse Issuer Bid ( NCIB ) During Q4 2017, the Cmpany invested C$26,263,786 related t the purchase 1,553,500 Kirkland Lake Gld cmmn shares under the Cmpany s NCIB. Since the cmmencement f the NCIB prgram in May 2017, the Cmpany has purchased a ttal f 5,443,400 cmmn shares fr cancellatin at an average price f C$14.05 fr a ttal f C$76,479,700. Under the NCIB, a maximum f 15,186,571 Kirkland Lake Gld shares can be purchased fr cancellatin. Accrdingly, the Cmpany may purchase an additinal 9,743,171 cmmn shares fr cancellatin thrugh the NCIB until the prgram s expiry in May 2018. 7.5% Cnvertible Debentures The C$61.0 millin in 7.5% unsecured cnvertible debentures f Old Kirkland Lake Gld matured n December 31, 2017. In accrdance with the terms f the trust indenture, during Q4 2017, debenture hlders elected t cnvert apprximately C$61,724,000 at a cnversin price f $13.70 per share, being a cnversin rate f 72.9927 cmmn shares fr each $1,000 in principal held. As a result, the Cmpany issued an aggregate f 4,505,393 cmmn shares with respect t the cnversin f the debentures. In additin, the Cmpany paid an aggregate amunt f C$324,116 in cash with respect t the utstanding debentures nt cnverted and interest ttaling C$2,139,968 with respect t all f the debentures. The debentures frmerly traded n the TSX under the symbl KLG.DB.A. Qualified Persns Pierre Rcque, P.Eng., Vice President, Canadian Operatins and Ian Hlland, FAusIMM, Vice President Australian Operatins are qualified persns as defined in Natinal Instrument 43-101 and have reviewed and apprved disclsure f the technical infrmatin and data in this news release. Abut Kirkland Lake Gld Ltd. Kirkland Lake Gld Ltd. is a mid-tier gld prducer with ttal prductin in 2017 f 596,405 unces f gld frm mines in Canada and Australia. The prductin prfile f the cmpany is anchred frm tw high-grade, lwcst peratins, including the Macassa Mine lcated in Nrtheastern Ontari and the Fsterville Mine lcated in the state f Victria, Australia. Kirkland Lake Gld's slid base f quality assets is cmplemented by district scale explratin ptential, supprted by a strng financial psitin with extensive management and peratinal expertise. Fr further infrmatin n Kirkland Lake Gld and t receive news releases by email, visit the website www.klgld.cm. Cautinary Nte Regarding Frward-Lking Infrmatin This press release cntains frward lking statements and "frward-lking infrmatin" within the meaning f applicable securities laws, including statements regarding the plans, intentins, beliefs and current expectatins f Kirkland Lake Gld with respect t future business activities and perating perfrmance. Frward-lking infrmatin is ften identified by the wrds "may", "wuld", "culd", "shuld", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" r similar expressins and include infrmatin regarding: (i) the amunt f future 5

prductin ver any perid; (ii) assumptins relating t revenues, perating cash flw and ther revenue metrics set ut in the Cmpany's disclsure materials; and (iii) future explratin plans. Investrs are cautined that frward-lking infrmatin is nt based n histrical facts but instead reflect Kirkland Lake Gld's management's expectatins, estimates r prjectins cncerning future results r events based n the pinins, assumptins and estimates f management cnsidered reasnable at the date the statements are made. Althugh Kirkland Lake Gld believes that the expectatins reflected in such frward-lking infrmatin are reasnable, such infrmatin invlves risks and uncertainties, and undue reliance shuld nt be placed n such infrmatin, as unknwn r unpredictable factrs culd have material adverse effects n future results, perfrmance r achievements f the cmbined cmpany. Amng the key factrs that culd cause actual results t differ materially frm thse prjected in the frward-lking infrmatin are the fllwing: the ability f Kirkland Lake Gld t successfully integrate the peratins and emplyees f its Canadian and Australian peratins; the future develpment and grwth ptential f the Canadian and Australian peratins; the future explratin activities planned at the Canadian and Australian peratins and anticipated effects theref; changes in general ecnmic, business and plitical cnditins, including changes in the financial markets; changes in applicable laws; and cmpliance with extensive gvernment regulatin. This frward-lking infrmatin may be affected by risks and uncertainties in the business f Kirkland Lake Gld and market cnditins. This infrmatin is qualified in its entirety by cautinary statements and risk factr disclsure cntained in filings made by Kirkland Lake Gld, including its annual infrmatin frm, financial statements and related MD&A fr the financial year ended December 31, 2016 and the financial statements and related MD&A fr the third quarter ended September 30, 2017, filed with the securities regulatry authrities in certain prvinces f Canada and available at www.sedar.cm. Shuld ne r mre f these risks r uncertainties materialize, r shuld assumptins underlying the frward-lking infrmatin prve incrrect, actual results may vary materially frm thse described herein as intended, planned, anticipated, believed, estimated r expected. Althugh Kirkland Lake Gld has attempted t identify imprtant risks, uncertainties and factrs which culd cause actual results t differ materially, there may be thers that cause results nt t be as anticipated, estimated r intended. Kirkland Lake Gld des nt intend, and d nt assume any bligatin, t update this frward-lking infrmatin except as therwise required by applicable law. FOR FURTHER INFORMATION PLEASE CONTACT Anthny Makuch, President, Chief Executive Officer & Directr Phne: +1 416-840-7884 E-mail: tmakuch@klgld.cm Mark Utting, Vice-President, Investr Relatins Phne: +1 416-840-7884 E-mail: mutting@klgld.cm 6