Mr. Stefan Sklepowicz reports

KLDC HITS 121 M OF CONTINUOUS GOLD MINERALIZATION AT 1.01 G/T IN 75 M STEP-OUT AT MIRADO; EIGHT ADDITIONAL HOLES PENDING

Kirkland Lake Discoveries Corp. has released assay results from its continuing 2026 diamond drilling program at the past-producing Mirado property, located 20 kilometre southeast of Kirkland Lake, Ont.

Highlights

KLM26-002:

• 1.01 grams per tonne gold over 121 metres from 11 m to 132 m, including:
  • 4.61 g/t Au over 3.2 m from 15.2 m;
  • 3.63 g/t Au over 12.8 m from 69.7 m;
    • Including 7.41 g/t Au over 4.8 m from 74.2 m;
• 75-metre stepout from hole KLM26-001;
• Broad zone of continuous mineralization;
• 732-metre hole tests induced polarization (IP) anomaly;
• Eight holes pending using Chrysos PhotonAssay for expedited results.

The second drill hole, targeting the South zone at Mirado, stepped out 75 m southeast of KLM26-001 and confirms continuous mineralization with 1.01 g/t Au from 11.0 m to 132.0 m, including a high-grade interval of 7.41 g/t Au over 4.8 m from 74.2 m. Eight additional drill holes have been completed with assays pending, representing a steady flow of near-term results. Two holes test the north zone and eight holes test the southern extent of mineralization as well as the deep IP anomaly beneath the historical deposit. This hole follows up on KLM26-001/KLM26-001B, which intersected 103 m of continuous mineralization, including 5.66 g/t over 18.7 m (see April 16 news release).

Chief executive officer Stefan Sklepowicz commented: "We are continuing to see broad mineralization within our second hole at the South zone of Mirado. These results reinforce our geological model and show the robust nature of this system. Our team continues to execute this drill program with efficiency and we highly anticipate the results from the remaining eight holes."

Executive chairman Denis Laviolette commented: "With highly anticipated results still coming, the assay histogram shows the story here. This is an extremely large, prolific system of widespread gold. This is a rarity in the Abitibi, and, with today's metal prices, this presents a compelling reframing of the deposit scale and economic viability of this project."

Mineralization style and geological context

Mineralization reported herein is associated with the South zone and is hosted within intermediate volcanic units, characterized by quartz-carbonate stringer systems with 1 per cent to 5 per cent disseminated pyrite and strong local vein replacement (up to 90 per cent). Alteration is dominated by pervasive chlorite-carbonate with localized sericite and silicification, and minor chalcopyrite occurs in more strongly altered intervals, reflecting a structurally controlled vein and stringer system within a broadly altered volcanic host (see Table 1).

The Mirado system comprises two complementary styles of gold mineralization. The South zone consists of high-grade, structurally controlled quartz-carbonate-chlorite vein arrays within broader lower-grade envelopes, while the North zone hosts semi-conformable, stratigraphically controlled sulphide mineralization within felsic volcaniclastics, which remains a focus of continuing drilling.

Current results confirm the continuity of historically defined mineralization and demonstrate consistent downhole continuity, supporting the company's evolving geological model and highlighting strong potential for expansion along strike and at depth.

Deep IP anomaly test

The deepest hole drilled to date at the Mirado project, KLM26-007, reached a downhole depth of 732 m and was designed to test a prominent IP resistivity-low anomaly interpreted to extend beneath and downplunge of the South zone mineralization.

The anomaly forms a coherent feature aligned with the projected plunge of the South zone and may reflect increased alteration, structural complexity and/or sulphide development at depth. Historical drilling was largely limited to depths above approximately 150 m, leaving this feature untested.

Continuing drilling is designed to determine whether this anomaly represents downplunge continuation of the mineralized system or a broader alteration envelope associated with the structural controls of the South zone. Results from KLM26-007, along with subsequent deep drilling, will be critical in determining the significance of this feature and its relationship to the overall mineralizing system at Mirado.

Progress update and next steps

Results from the initial holes of the 2026 drill program, including KLM26-002, confirm broad zones of continuous gold mineralization within the South zone and support the lateral and vertical continuity of the system. Drilling has also begun to test the North zone and deeper targets, including the IP anomaly beneath the South zone, where historical drilling was limited.

These results are being integrated into an evolving 3-D geological model, improving the company's understanding of structural controls and mineralization trends.

Continuing drilling will continue to focus on stepout targeting along strike and at depth while systematically evaluating the downplunge potential of the South zone and testing geophysical targets, including the deep IP anomaly. Additional drilling will prioritize increasing data density to support future resource modelling.

To further enhance targeting across the broader KL South property, the company is planning a MobileMT geophysical survey to provide district-scale coverage and refine structural and lithological interpretations across the entire project area.

To support efficient assay turnaround and improved analytical reliability, Kirkland Lake Discoveries Corp. has implemented Chrysos PhotonAssay technology through Paragon Geochemical.

By operating in a safe, mining-friendly jurisdiction with a focused exploration program, Kirkland Lake Discoveries is advancing Mirado toward a modern, well-defined gold asset in the Abitibi greenstone belt.

Data verification and quality assurance/quality control (QA/QC)

Gold analyses were completed at Paragon Geochemical using Chrysos PhotonAssay technology, a fast, non-destructive analytical method that utilizes high-energy X-rays to directly measure gold content in large (approximately 500-gram) samples. This approach improves analytical precision and reduces the impact of coarse gold (nugget effect) compared with traditional fire assay methods while also enabling faster turnaround times.

Drill program design, QA/QC and interpretation of results were conducted by qualified persons employing a QA/QC program consistent with National Instrument 43-101 and industry best practices. Certified reference standards and blanks were inserted into the sample stream at regular intervals (approximately one control sample per 20 samples) to monitor analytical accuracy and precision.

Reported intervals are calculated using a weighted average grade with a 0.2 g/t Au cut-off. To reflect the continuity of mineralization within the broader system, up to 3.0 m of internal dilution (consecutive material below cut-off) is included within reported composites. No top-cutting has been applied to high-grade results. True widths are estimated at approximately 80 per cent of the reported core length intervals. Assays are uncut except where indicated.

Qualified person

The technical information contained in this news release has been reviewed and approved by Benjamin Cleland, PGeo, vice-president exploration, who is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Kirkland Lake Discoveries Corp.

Kirkland Lake Discoveries has assembled a 420-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 Discoveries is positioned to advance a strong pipeline of drill-ready targets at KL South, KL West and KL East, supported by multiple anomalous soil trends, historical mineral showings and structurally controlled intersections.

We seek Safe Harbor.