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KL KIRKLAND LAKE GOLD KIRKLAND LAKE GOLD REPORTS SOLID Q1 2021 RESULTS - - Toronto , Ontario May 6 , 2021 Kirkland Lake Gold Ltd. ( “ Kirkland Lake Gold " or the " Company " ) ( TSX : KL ) ( NYSE : KL ) ( ASX : KLA ) today announced the Company's financial and operating results for the first quarter of 2021 ( “ Q1 2021 ” ) . The results for the quarter exceeded target levels in a number of key areas , including production and all - in sustaining costs ( " AISC " ) per ounce sold ( ¹ ) , which reflected stronger than expected production and sales at Fosterville and Detour Lake , as well as lower than planned sustaining capital expenditures . The Company's full financial statements and management discussion & analysis are available on SEDAR at www.sedar.com and on the Company's website at www.kl.gold . All dollar amounts are in U.S. dollars , unless otherwise noted . Tony Makuch , President and Chief Executive Officer of Kirkland Lake Gold commented : " We benefited from strong results in March , which was the key driver for higher than expected production and materially better than planned AISC in Q1 2021. We have had a solid start to 2021 and are poised for three strong quarters of operating results over the remainder of the year . Assuming current gold prices , we are also well positioned for improved financial performance beginning in the second quarter and expect to finish 2021 , once again , as among the most profitable companies in our sector . Looking at key highlights of Q1 2021 , we had solid grade outperformance at Fosterville , achieved record first - quarter throughput at Detour Lake , including record daily throughput of 80,339 tonnes on March 24 , 2021 , and reached 5,000 feet of advance at the # 4 Shaft project at Macassa , with the project remaining over a month ahead of schedule . In addition , we continued to achieve exploration success , with new drilling results at Detour Lake confirming the continuity of a large mineralized corridor in the Saddle Zone connecting the Main and West pit locations and further extending the mineralization west of existing Mineral Reserves . We issued a new technical report for Detour Lake , outlining a very attractive operation that has potential to get even better once we factor the considerable drilling success we are achieving into a further updated mine plan , expected in 2022 . Finally , we issued our 2021 Sustainability Report in March highlighting the significant progress we have made through our commitment to net - zero emissions by 2050 or earlier , demonstrating that , for Kirkland Lake Gold , responsible mining is integral to everything we do and is part of our culture . " Q1 2021 PRODUCTION BEATS GUIDANCE Production of 302,847 exceeded guidance of 270 - 290 kozs reflecting higher than planned production at Fosterville and Detour Lake UNIT COSTS BETTER THAN PLANNED Operating cash costs ( ¹ ) of $ 542 / oz sold , AISC ( ¹ ) of $ 846 / oz ( $ 667 in March 2021 ) ON TRACK TO ACHIEVE 2021 GUIDANCE Poised for three strong quarters over balance of 2021 ; on track to achieve all 2021 guidance SOLID EARNINGS & CASH FLOW IN Q1 2021 Net earnings of $ 161.2M ( $ 0.60 / share ) , adjusted net earnings of $ 167.8M ( $ 0.63 / share ) , Op . cash flow of $ 208.2M ; free cash flow ( ¹ ) of $ 42.7M RETURNED $ 96.6M TO SHAREHOLDERS Paid $ 50.3M in dividends and used $ 46.3M to repurchase 1,074,100 shares during Q1 2021 CONTINUED EXPLORATION SUCCESS Additional drilling success in Saddle Zone at Detour Lake between existing Main Pit and planned West pits EXCELLENT PROGRESS WITH GROWTH PROJECTS Including # 4 Shaft at Macassa over a month ahead of schedule and projects supporting expansion at Detour Lake advancing on plan NEW NI 43-101 REPORT AT DETOUR LAKE Production expansion , low unit costs and long production life ; Significant exploration success to be included in new mine plan expected in 2022 2021 SUSTAINABILITY REPORT FILED Includes increased ESG disclosures , greater inclusion of Sustainable Accounting Standards Board ( " SASB " ) disclosures and metrics for Metals and Mining 200 BAY STREET , SUITE 2800 | RBC PLAZA - SOUTH TOWER | TORONTO , ON M5J 2J1 | TEL : 416 840 7884 www.kl.gold TSX : KL | NYSE : KL | ASX : KLA