Mr. Stefan Sklepowicz reports

KIRKLAND LAKE DISCOVERIES CORP. ANNOUNCES BROKERED PRIVATE PLACEMENT

Kirkland Lake Discoveries Corp. has entered into an engagement letter with Canaccord Genuity Corp., pursuant to which Canaccord Genuity and a syndicate of agents will act as agents in connection with a best efforts private placement by the company of: (i) flow-through (FT) common shares of the company at a price of 40 cents per FT share and special flow-through common shares of the company at a price of 48.3 cents per special FT share, in any combination, for aggregate gross proceeds of up to approximately $10-million; and (ii) up to 14,285,714 common shares of the company at a price of 35 cents per hard-dollar (HD) share for gross proceeds of up to approximately $5-million. Each of the FT shares and special FT shares will qualify as a flow-through share for the purposes of the Income Tax Act (Canada).

In addition, the company has granted the agents an option to sell up to $2.25-million of additional offered securities on the same terms and conditions, exercisable in whole or in part at any time up to 48 hours prior to the closing date of the offering. The agents' option may be exercised for FT shares, special FT shares, HD shares or a combination thereof (as agreed between the company and the agents) at the respective offering prices.

The offering is expected to close on or about Oct. 8, 2026, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The offered securities will be subject to a hold period of four months and one day from the closing of the offering.

The company agrees and covenants that it will use an amount equal to the gross proceeds received by the company from the sale of the FT shares and the special FT shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as both terms are defined in the Income Tax Act (Canada) on or before Dec. 31, 2027, and to renounce all the qualifying expenditures in favour of the subscribers of the FT shares and the special FT shares with an effective date of no later than Dec. 31, 2026. In the event the company is unable to renounce qualifying expenditures effective on or prior to Dec. 31, 2026, for each FT share and special FT share purchased in an aggregate amount not less than the gross proceeds of the sale of the FT shares and the special FT shares, and/or the qualifying expenditures are otherwise reduced by the Canada Revenue Agency, the company will indemnify each subscriber for the additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures or as a result of the reduction as agreed. The net proceeds from the issue and sale of the HD shares are intended to be used for general corporate purposes.

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 in place, the company is positioned to advance a pipeline of drill-ready targets at KL South, KL West and KL East, supported by anomalous soil trends, historical mineral showings and structurally controlled intersections.

We seek Safe Harbor.