Mr. Stefan Sklepowicz reports

KIRKLAND LAKE ANNOUNCES CLOSING OF MIRADO PROJECT ACQUISITION

Further to Kirkland Lake Discoveries Corp.'s news release dated Dec. 18, 2025, the company has completed its previously announced acquisition of the Mirado gold project.

"The acquisition of the Mirado gold project is a pivotal step for Kirkland Lake Discoveries. While the historical data is compelling, we believe we've only scratched the surface of what this property truly holds. By securing a 100-per-cent undivided interest, we now have the flexibility to aggressively test high-priority targets and expand the known footprint of the deposit. Our team is eager to get the drills turning and demonstrate the significant exploration upside we see at KL South," stated Stefan Sklepowicz, chief executive officer of Kirkland Lake.

Acquisition terms

The company entered into a purchase agreement with Orecap Invest Corp. on Dec. 16, 2025, pursuant to which the company acquired a 100-per-cent undivided interest in the mineral claims collectively known as the Mirado property, free and clear of all liens and encumbrances.

As consideration for the acquisition, Kirkland Lake issued 40,582,767 common shares of the company valued at 21.5 cents per consideration share, equivalent to 19.9 per cent of the issued and outstanding common shares of Kirkland Lake calculated immediately following closing of the acquisition. The consideration shares are subject to a statutory four-month hold period expiring on July 3, 2026, as well as a contractual lock-up period of 12 months. No finders' fees were paid in connection with the transaction.

For further details regarding the acquisition, please see the news release of the company dated Dec. 18, 2025, available on SEDAR+.

About Kirkland Lake Discoveries Corp.

Kirkland Lake Discoveries has assembled a 400-square-kilometre exploration portfolio in the Kirkland Lake region of Ontario's Abitibi greenstone belt, one of the most prolific mining districts in the world. The company's properties span key fault zones, geophysical anomalies and volcanic-sedimentary contacts within the Blake River Group, a highly prospective assemblage known to host both gold and polymetallic massive-sulphide deposits.

With exploration permits now in place, Kirkland Lake is positioned to advance a strong pipeline of drill-ready targets at KL South, KL East and KL West, supported by multiple anomalous soil trends, historical mineral showings and structurally controlled intersections. The team combines strong technical experience with a focus on smart, efficient exploration designed to deliver results.

Building on exciting drill results from summer 2025, Kirkland Lake has initiated a 25,000-metre drill program following up on drill-ready targets at the company's KL West site.

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