CEO.CA Chairman's Briefing

Toronto, Ontario--(Newsfile Corp. - May 23, 2024) - Kirkland Lake Discoveries (TSXV: KLDC) (OTC Pink: KLKLF) ("Kirkland Lake Discoveries" or the "Company") is pleased to announce the results from the thirteen drill holes totaling 3,376m that were completed to follow up on surface showings, mapping, prospecting and ground IP at the Hurricane Intrusive Zone. This fault-bounded zone is located on the KLD East Side (Figure 1) of the Company's Kirkland Lake project in Kirkland Lake, Ontario. The Company successfully intercepted wide zones of alteration, quartz veining +/- sulphide mineralization. This drill program was a progressive step toward understanding and unlocking the geological potential of the area.

Figure 1: Property map showing location of the Hurricane Intrusive Zone at the centre of the KL East Side

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Highlights of drilling:

• Highly altered zone with veining encountered at Whiskey Jack, with a four-metre zone of extremely bleached mafic volcanics (Figure 2)
• Whiskey Jack East drilling intercepted highly altered syenites and feldspar porphyry with intense quartz veining and increased mineralization associated below the redox boundary defined by the transition from magnetite to hematite
• The mineralized vein found at the Norwood showing was successfully intercepted at depth and contained visible gold indicating the continuation of the mineralized system at depth
• Mineralization at Jensen did not continue below surface

Whiskey Jack Summary
The Whiskey Jack zone at depth consisted of a wide, highly altered zone within mafic volcanics and gabbro. Alteration within the two holes consisted of strong sericite, calcite, and epidote alteration. Within these strongly altered zones, there was an increase in at least two generations of veining. One generation was observed to be wider intersections of quartz, carbonate veins + pyrite, while the other consisted of quartz carbonate stringers with interstitial hematite alteration. Sulphide mineralization consisted dominantly of pyrite, which in areas, was semi-massive. To a lesser extent, chalcopyrite was present.

Figure 2: Highly altered and bleached zone at Whiskey Jack. Hole KLD24-14 from 138.51 m to 155.7 m.

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Whiskey Jack East Summary
Whiskey Jack East drilling consisted of syenite to mafic syenite, with strong, pervasive potassic-hematite alteration. The top of the hole within the Whiskey Jack East zone was drilled into a magnetic high, which is interpreted to be related to the patchy magnetite observed throughout the interval. Further downhole, the magnetite transitioned into specular hematite, coincident with the boundary in the magnetics from high to low. This represents a redox front and a potential geochemical trap. A significant intersection of stockwork quartz veining was intersected (Figure 3), representing a wide fluid flow pathway. Although significant values were not intersected within this stockwork section, this significant fluid conduit warrants further follow-up.

Figure 3: Highly altered syenite with intense quartz veining at Whiskey Jack East hole KLD 24-11 from 249.39 m to 266.52 m

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Norwood Summary
The Norwood showing was drilled to investigate multiple mineralized vein sets determined through surface grab samples and historic trenching. Hole KLD24-20 successfully intersected one of the mineralized veins, hosted within a mafic syenite and intercalated mafic volcanics. Within this vein intersection, fine-grained visible gold was noted establishing that surface mineralization extends to depth.

Figure 4: Hurricane Intrusive Zone geological map with drill collar locations and showings

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QA/QC Protocol
Samples were halved by a core saw with one half being placed into a plastic bag with the sample number written on the bag and a sample tag placed inside the bag. The plastic bag was then zipped tied and secured in a locked container until delivery to the lab. Batches of samples were sealed in rice bags and hand-delivered by KLDC to MSA Labs in Timmins, ON. Samples were crushed to 70% passing 2mm with a riffle split of 500g to place in Photon jar for Photon Assay (gamma ray) for gold only. Another riffle split of 250g was pulverized to 85% -75 µm for an aqua regia digestion analytical 39 multi-element ICP-MS method. KLDC inserted OREAS blanks and certified reference materials (OREAS 236 and 153a) into the sampling stream at a rate of 8% (4 blanks and 4 standards per 100 samples). The QA/QC results from the drilling program and the technical information contained in this news release have 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. 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 Lucky Strike Property, Arnold Property, KL Central, Goodfish-Kirana, and the optioned KL West 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:

Stefan Sklepowicz
Interim CEO
www.kirklandlakediscoveries.com
+1 226 979 3515
stefan@kirklandlakediscoveries.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of Kirkland Lake Discoveries, are forward-looking statements. Forward-Looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-Looking statements in this news release relate to, among other things, the Company's three-phase drill program, the results thereof, and any impact therefrom. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-Looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Kirkland Lake Discoveries, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the results of exploration, continued availability of capital, changes in general economic, market and business conditions, and the ability to obtain any requisite approvals. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Kirkland Lake Discoveries does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

¹ Canada's Gold Exploration Frontier: The Abitibi Greenstone Belt - https://www.visualcapitalist.com/sp/canadas-gold-exploration-frontier-the-abitibi-greenstone-belt/

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