Mr. Stefan Sklepowicz reports

KIRKLAND LAKE DISCOVERIES CORP. CLOSES UPSIZED $20M BROKERED PRIVATE PLACEMENT LED BY ERIC SPROTT

Further to the news releases dated Sept. 17, 2026, and Sept. 22, 2026, Kirkland Lake Discoveries Corp. has closed its previously announced upsized brokered private placement, including the exercise in full of the option granted to the agents (as defined herein) to increase the size of the offering. The offering was conducted pursuant to an agency agreement between the company, Canaccord Genuity Corp. and CFT Financial Corp. as co-lead agents and co-bookrunners.

Pursuant to the offering, the company has issued: (i) an aggregate of 29,457,000 flow-through common shares at a price of 40 cents per FT share, for gross proceeds of $11,782,800; (ii) an aggregate of 5,714,000 special flow-through common shares at a price of 48.3 cents per special FT share, for gross proceeds of $2,759,862; and (iii) an aggregate of 16,066,510 hard-dollar common shares at a price of 35 cents per HD share, for gross proceeds of $5,623,278.50, representing aggregate gross proceeds of $20,165,940.50. 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).

The offering included a lead order strategic investment from renowned resource investor, Eric Sprott.

"We are thrilled to welcome Eric's continued support as a cornerstone investor," said Stefan Sklepowicz, chief executive officer of the company. "We view his participation as a strong endorsement of our team and the potential of our Kirkland Lake portfolio, and this offering positions us well to advance our drill-ready targets."

Pursuant to the provisions in the Income Tax Act (Canada), the gross proceeds received by the company from the sale of the FT shares and the special FT shares will be used 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 the company will 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.

In consideration for their services rendered in connection with the offering, the company paid to the agents a cash commission and issued to the agents an aggregate of 2,121,460 non-transferable broker warrants, each exercisable to acquire one common share of the company at a price of 35 cents per common share for a period of 24 months following the closing of the offering.

All securities issued and issuable pursuant to the offering are subject to a statutory hold period expiring on Feb. 9, 2027, in accordance with applicable Canadian securities laws. The offering remains subject to the final approval of the TSX Venture Exchange.

About Kirkland Lake Discoveries Corp.

Kirkland Lake 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.