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1 TSX:KGI GROWTH & VALUE Creating an Ontario Focused Intermediate Gold Producer US & Montreal Marketing January 12-14, 2016 TSX:KGI 1 klgold.com

2 Forward Looking Statements Cautionary Note Regarding Forward Looking Statements. This presentation contains statements which constitute forward-looking statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and operating performance of the Company. The words may, would, could, should, will, intend, plan, anticipate, believe, estimate, expect and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Forward-looking statements used in this Presentation include, but may not be limited to; statements regarding the Company s production guidance for Stub Year 2015, and the financial years ended 2016, 2017 and 2018; the ability to bring more higher grade stopes online from the 5400 level and access to the 5600 level and below, and the timing thereof; the exploration programs and the results and timing thereof. In respect of the forward-looking information concerning the anticipated completion of the proposed Transaction and the anticipated timing thereof, Kirkland Lake has provided them in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the time required to prepare and mail shareholder meeting materials, including the required information circular; the ability of the parties to receive, in a timely manner, Second the necessary regulatory, level court, shareholder and other third party approvals; Second and the ability level of the parties to satisfy, in a timely manner, the other conditions to the closing of the Transaction. These dates may change for a number of reasons, including unforeseen delays in preparing meeting materials, inability to secure necessary shareholder, regulatory, court or other Third third party level approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Transaction. Accordingly, readers should not place undue reliance on the forward-looking information contained in this news release concerning these times. With respect to the forward looking information of Kirkland Lake and/or St Andrew, concerning the future gold production of Kirkland Lake and St Andrew, future cash costs of production, the gold resources and reserves of Kirkland Lake and St Andrew, and the development of the Kirkland Lake and St Andrew properties are subject to various key assumptions described in each party s respective Annual Information Forms and Technical Reports referred to herein and as filed on the SEDAR profiles of both companies at Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made such as, without limitation, opinion, assumptions and estimates of management regarding the Company s business, its ability to increase its production capacity and decrease its production cost. Such opinions, assumptions and estimates, are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors are discussed in length in the Company's annual Management's Discussion and Analysis and Annual Information Form for the year ended April 30, and the Company s Management's Discussion and Analysis for the interim period ended July 31, 2015 filed with the securities regulatory authorities in certain provinces of Canada and available at Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law. TSX:KGI 2 klgold.com

3 Investment Highlights Emerging Ontario-focused intermediate gold producer with high-grade sustainable assets in prolific mining camps Proven management team and board of directors with a positive track record Profitable with strong cash flow generation and a robust balance sheet Strong AISC Fourth profile level and long-term, sustainable production Fourth platform level Enhanced capital markets presence and increased access to capital and debt markets Leverage to Canadian dollar gold price Significant exploration upside in the prolific Abitibi greenstone belt TSX:KGI 3 klgold.com

4 Creating A New Mid-Tier Gold Producer KGI + SAS Pro-Forma Highlights Include: Ontario Focused Intermediate Gold Producer The combined entity will be an Ontario-focused intermediate producer expected to produce between koz of gold in 2016 Improved diversification with production from four mines and two centrally located mills in Ontario s southern Abitibi greenstone belt Improved Financial Flexibility Solid balance sheet with over C$100 million in cash Combination Third of strong level future cash flows from both companies Ability to benefit from future operational and corporate synergies Enhanced Market Profile Two companies are covered by 15 research analysts collectively Enhanced trading liquidity and appeal to a larger shareholder base Exploration Upside Consolidation of large land holdings in the heart of two Ontario gold camps Proximity to existing mine infrastructure Further Opportunities Combined entity will have stronger market positioning and warrants a re-rating TSX:KGI 4 klgold.com

5 Pro Forma Capitalization KGI SAS Pro Forma TSX Share Price 1 C$/share $5.23 $0.38 Basic Shares Outstanding 1 mm FDITM Shares Outstanding 2 mm FDITM Market Capitalization 2 C$mm $436.9 $178.0 $615.0 Cash and Cash Equivalents 2 C$mm $88.5 $24.8 $113.3 Debt 3 C$mm $124.3 $6.5 $130.9 Enterprise Value C$mm $472.8 $159.8 $ As at November 16, KGI FDITM shares and market cap based on share price on November 16, 2015, SAS FDITM shares, market cap and cash based on transaction offer price. 3. Based on balance sheet data as of July 31, 2015 for KGI and September 30, 2015 for SAS. TSX:KGI 5 klgold.com

6 Pro Forma Snapshot KGI SAS Pro Forma LTM Avg. Daily Trading Value C$mm $3.0 $0.1 $3.1 Analyst Coverage # P Reserves oz Au 1,463, ,331 2,296,331 Measured & Indicated Resources oz Au 2,047,000 2,668,000 4,715, Production oz Au 152, , ,629 AISC US$/oz $956 $934 $ KGI production based on mid-range of SY 2015 guidance plus actual FY 2015 production from January-April; SAS production based on mid-range of 2015 guidance. 2. KGI AISC based on actual FY 2015; SAS AISC based on actual year-to-date TSX:KGI 6 klgold.com

7 Diversification Within A Stable, Mining Friendly Jurisdiction The combined operating portfolio will include four producing mines and two centrally located mills Macassa Mine Complex 2015E Production YTD Q AISC Holt Mill Resources & Reserves* Holt Mine Holloway Mine Taylor Mine Total P&P (including Hislop Mine) Measured & Indicated (Property Wide) Inferred (Property Wide) St Andrew Goldfields koz Au US$934/oz Au 3,000 tpd (80% utilized) 591 kozs 40 kozs 156 kozs 0.8 Mozs 2.7 Mozs 2.2 Mozs SY 2015E Production* Q1 SY 2015 AISC Macassa Mill Reserves & Resources* koz Au US$956/oz Au 2,000 tpd (50% utilized) Taylor Macassa Holloway Holt Assets in close proximity (80km radius) Total P&P Reserves (Macassa Mine Complex) 1.5 Mozs Measured & Indicated (Property Wide) 2.0 Mozs Inferred (Property Wide) 1.7 Mozs *SY 2015 is an eight month time period *Resources are exclusive of Reserves (see appendix for full NI disclosure) TSX:KGI 7 klgold.com

8 A Corner Stone High-Grade Asset MACASSA MINE COMPLEX TSX:KGI 8 klgold.com

9 Financial Position CAPITAL STRUCTURE 1 ISSUED SHARES 80,954,117 Click Stock to Options edit Master 3,920,800 FULLY DILUTED 84,874,917 MARKET CAP ~395 Million 2 52 Week Performance 2 HIGH LOW C$6.88 Fourth C$2.79 level Current Share Price C$5.31 (Jan 06) Major Shareholders (~50%) 1 Resolute Funds (~10%) Eric Sprott (~9%) Columbia Wanger Asset Management LLC (~8%) Equinox Partners (~7%) Van Eck Associates Corporation (~5%) Harry Dobson (~4%) Sprott Asset Management (~4%) ABC Funds (~2%) CASH C$93.8 million 2 DEBT Click to C$119.1 edit Master million 2 convertible debentures (principal amount owing) KGI.DB: 6% coupon/ $15.00 strike C$57.4MM mature Jun/2017 KGI.DB.A: 7.5% coupon/ $13.70 strike C$62.1MM mature Dec/2017 NCIB allows KGI to purchase up to 10% of each issue within a 12 month period commencing April 3, 2015, and can be renewed annually 3 ROYALTY 2.5% NSR Franco Nevada Corporation Option to buyback 1% by October 31, 2016, at a cost of US$36MM less any money paid against the 1% 1 As at December 1, 2015; 2 As at December 31, As of December 31, 2015; 3 See press release dated April 1, 2015 for details on the NCIB TSX:KGI 9 klgold.com

10 Grade g/t One of the Highest Grade Gold Mines In The World Select Group of Producing Assets with +1Moz s in Reserves 25.0 Reserve Grades Click to edit Master Mine Operator Location Macassa Mine Turquoise Ridge Gosowong Red Lake Moab Khotsong Mponeng Kupol/Dvoinoye Tau Tona Complex Gold Grade Reserves Reserve Update g/t Au Date Macassa Mine Complex Kirkland Lake Gold Canada (Ontario) Moz Dec/2014 Turquoise Ridge Barrick USA (Nevada) Moz Dec/2014 Gosowong Newcrest Indonesia Moz Dec/2014 Moab Khotsong AngloGold Ashanti South Africa Moz Dec/2014 Mponeng AngloGold Ashanti South Africa Moz Dec/2014 Red Lake Goldcorp Canada Moz Dec/2014 Kupol/Dvoinoye Kinross Russia Moz Dec/2014 TauTona AngloGold Ashanti South Africa Moz Dec/2014 Company Source This is a select group of Companies that illustrate producing mines only with mineral reserves in excess of 1Moz s (gold only, no equivalent Au ounces shown) TSX:KGI 10 klgold.com

11 Robust Level of Reserves & Resources Resources are Exclusive of Reserves Based on current level of reserves and a conservative 70% conversion of M&I resources (@ 200,000 oz p.a), KGI has a 14 year mine life. Mineral Reserves (P&P) Includes the 04/ Main Break and SMC Property Wide 1.5 Moz s 2.6M 0.56 opt (19.2 g/t ) SMC 0.9 Moz s 1.5M 0.65 opt (22.3 g/t) Mineral Resources (M&I) Includes the 04/ Main Break, SMC, Near Surface and other 2.0 Moz s 4.2M 0.49 opt (16.8 g/t ) Breakout of SMC only 0.9 Moz s 1.4M 0.66 opt (22.6 g/t) Mineral Resources (Inferred) Includes the 04/ Main Break, SMC, Near Surface and other 1.7 Moz s 2.1M 0.56 opt (19.2 g/t) 0.9 Moz s 1.4M 0.65 opt (22.3 g/t) See Appendix for more disclosure on MRMR statement which is as of December 31, TSX:KGI 11 klgold.com

12 South Mine Complex 5025 Level P+P 28, oz/ton 14,000 Oz s M+I 74, oz/ton 32,000 Oz s 16.5 g/t 5300 Level Access from 5400L and 5600L allows delineation drilling of resources, especially below 5600L Remains Open at Depth and Across Strike P+P 561, oz/ton 261,000 Oz s M+I 245, oz/ton 107,000 Oz s 5400 Level P+P 370, oz/ton 226,000 Oz s M+I 174, oz/ton 72,000 Oz s 16.1 g/t 5600 Level P+P 239, oz/ton 183,000 Oz s M+I 186, oz/ton 117,000 Oz s OPEN 5700 Level P+P 202, oz/ton 208,000 Oz s M+I 164, oz/ton 96,000 Oz s 5800 to 6600 Level P+P 50, oz/ton 41,000 Oz s M+I 551, oz/ton 499,000 Oz s OPEN 20.9 g/t 26.4 g/t 35.3 g/t 28.5 g/t OPEN *Drawing not to scale TSX:KGI 12 klgold.com

13 SY15_Q1 Ounces Recovered Ounces Sold Tons Milled Head Grade (opt) 41,482 41,204 94, (15.4 g/t) Production Update SY15 Guidance 90, ,000 ounces at a grade of 0.43 opt (14.7 g/t) SY15_Q2 33,511 34,606 85, (13.7 g/t) text SY15_Q3 styles SY15_YTD (2 month reporting period) 27,604 25,421 68, (13.7 g/t) 102, , , (14.4 g/t) * Production guidance for SY15 is based on eight months of production TSX:KGI 13 klgold.com

14 Gold Ounces Guided Head Grades 0.38/ / / / / / 15.8 (OPT/ GPT) 250, ,000 text 150,000styles 100,000 50,000 Growing Production Profile 0.33/ / / Actual Head Grades Achieved (OPT/ GPT) Oz Recovered Guidance SY Linear (Oz Recovered) April 30 th Fiscal Year End 8 Month Stub Year Calendar Year End The Stub Year (SY) 8 month period runs from May 1 December 31, Recovered 102,597 ounces at a head grade of 0.42 opt (14.1 g/t), recoveries of 97.1% and achieved an average throughput of 1,016 tpd. 2016, 2017 and 2018 guidance based on stated head grade and average throughput of 1,130, 1,140 and 1,145 stpd respectively. TSX:KGI 14 klgold.com

15 Cost in C$ per Ounce Produced $2,000 $1,500 $1,000 AICC by Quarter (18 Months) FISCAL 2015 SY15_YTD AICC C$1,327/ Oz C$1,348/Oz Average Sales Price C$1,412/ Oz C$1,481/Oz Royalties Exploration (including surface) Corporate (incl. Finance & Interest) PP&E $500 Capital Development (incl. Sustaining and New) Operating Costs $0 Fiscal Year Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/SY15 Q2/SY15 TSX:KGI 15 klgold.com

16 Exploration Potential In A Historic Camp Currently mining and exploring on one of the five mine targets. Current Underground and Surface Drilling Targets: Three main areas currently being explored from surface and underground. Regional Program: Regional exploration to test eastwards along strike. TSX:KGI 16 klgold.com

17 The SMC Continues To Grow Area s currently being mined Recent drilling has extended and confirmed the continuity of the SMC at depth and further to the east on the HM Claim. Will continue to drill from underground to find new mineralization, and in order to move mineralization from inferred into the measured and indicated categories for future resource and reserve expansion. See press releases dated June 9, 2015 and October 20, 2015, as filed on SEDAR TSX:KGI 17 klgold.com

18 SMC Drilling on the HM and South Claims SELECTED HIGHLIGHTS DH (NSZ) 67.9 g/ 5.0 metres 1.98 opt/ 16.7 feet DH (NSZ) 14.7 g/ 3.5 metres 0.43 opt/ 11.0 feet DH (NSZ) 16.5 g/t 2.7 metres 0.48 opt/ 9.0 feet DH (FWZ) g/ 2.6 metres opt/ 8.5 feet See press release dated October 20, 2015, as filed on SEDAR TSX:KGI 18 klgold.com

19 Regional Exploration Long Section Looking North Initial results from our regional program do not appear to be Main Break related (Phase 1) Geophysics anomalies identified and follow-up targeting exercise in progress (Phase 1a) Phase 1a program has 7,000 metres (23,000 feet) left to drill, and will be completed before calendar year end. TSX:KGI 19 klgold.com

20 Regional Drilling Section Looking East SELECTED HIGHLIGHTS AB AB AB g/ 0.3 metres 0.34 opt/ 1.0 feet 3,241.4 g/ 0.7 metres opt/ 2.3 feet 11.7 g/ 0.3 metres 0.34 opt/ 1.0 feet 12.3 g/ 0.5 metres 0.36 opt/ 1.7 feet AB including And g/ 0.9 metres opt/ 2.8 feet 1,783.2 g/ 0.3 metres opt/ 1.0 feet 89.5 g/ 0.3 metres 2.61 opy/ 1.0 feet See press release dated November 3, 2015, as filed on SEDAR TSX:KGI 20 klgold.com

21 Sustainable Assets SAS PROPERTIES TSX:KGI 21 klgold.com

22 Map of St Andrew Assets 120 km strike length Holt, Holloway, Taylor Hislop Ludgate, Aquarius Garrison Creek Producing Assets Care & Maintenance Exploration Targets with existing resources Exploration Target Source: St Andrew website ( TSX:KGI 22 klgold.com

23 Throughput (kt/year) Gold Production (koz/year) Growing Production Profile Au Ounces Tonnes Mill Capacity (ktpy) 1, , Source: St Andrew website ( TSX:KGI 23 klgold.com

24 Building Value AN EMERGING MID-TIER PRODUCER TSX:KGI 24 klgold.com

25 Proposed Transaction common share Consideration 1 Conditions Other Terms Business combination of Kirkland Lake Gold Inc. and St Andrew Goldfields Ltd. Total equity value of approximately C$178mm 1 Pro forma ownership: 71% Kirkland Lake Gold / 29% St Andrew Goldfields 1 Transaction Summary of a Kirkland Lake common share, representing consideration of C$0.47 per St Andrew 46% premium based on 20-day volume weighted average prices for both companies and a 25% premium to the St Andrew closing price on November 16, /3% St Andrew shareholder vote 50.1% Kirkland Lake shareholder vote Customary regulatory and court approvals 35% of St Andrew shares outstanding have entered into support agreements to vote in favour of the transaction One St Andrew Director to join Kirkland Lake s Board of Directors Standard reciprocal non-solicitation clauses with a fiduciary out in respect of a Superior Proposal Five full business day right to match provision for Kirkland Lake Reciprocal break fee of C$7.1mm Proposed Timing Mailing of meeting materials as soon as practical Shareholder meetings in January 2016 Expected closing by late January Based on November 16, 2015 closing prices. TSX:KGI 25 klgold.com

26 $1,507 $1,037 Strong Market Positioning Combined entity will be positioned as a new intermediate gold producer with a significant resource base in two world class gold camps in Ontario $615 Market Capitalization (C$mm) $488 $471 $423 $406 New Gold Alamos Pro Forma Lake Shore Primero Kirkland Lake Klondex Richmont St Andrew St Andrew will add significant annual gold production (1) 2016E Production (koz) 2 $233 $ Alamos New Gold Pro Forma Primero Lake Shore Kirkland Lake Klondex St Andrew Richmont 1. ITM diluted market cap. 2. Based on analyst consensus. TSX:KGI 26 klgold.com

27 Reserves (Moz Au) KGI Peer Group (Grade and Reserve Ounces) Second level 1.00 Lakeshore Gold Pro-Forma St Andrew Goldfields Kirkland Lake Wesdome Klondex Richmont Grade (g/t) TSX:KGI 27 klgold.com

28 Checking All the Right Boxes Three new independent board members with diverse and credible experience Operational improvements resulted in achieving production guidance New leadership to steer the Company in the right direction Rationalized business to return to profitability Generated free cash flow over the past 6 quarters Successful bought deal financing to strengthen the balance sheet Click to edit reputation Master Delisted from the AIM market Change in financial reporting period and addition of AISC reporting metric Relocated CFO position to Toronto head office Enhanced governance levels Improved credibility and Eric Sprott appointed Chairman of the Board Positive earnings over past 6 quarters Reduced costs resulted in increased cash position Raised $32.1 MM in February 2015 Additional cost and efficiency savings Better visibility, inline with industry Centralized management team Commenced regional exploration program to foster future organic growth Assessing M&A to de-risk business and increase production in the near term Rebuilding a gold camp Consolidation within stable jurisdictions TSX:KGI 28 klgold.com

29 Kirkland Lake Third APPENDIX level Notes, additional disclosure and other information TSX:KGI 29 klgold.com

30 F2015 Achievements SY 2015 Guidance 8 month period from Metric Click May 1 Dec 31, to 2015 edit Master All amounts stated are in Canadian dollars SY15_Q1 Click to edit Actual Master Status $800 - $850 Cash operating cost (per ounce produced) $821 On Track $1,300 - $1,400 AICC* (per ounce produced) $1,348 On Track $1,200 - $1,300 AISC* (per ounce sold) $1,226 On Track $32 - $35 Million Total Capital Expenditures (incl. PP&E) $23 Million Revised Down $145 - $155 Million Revenue $112 Million On Track $43 - $53 Million Cash flow from operations $35 Million On Track $11 - $18 Million Free cash flow* 12 Million Revised Up *All-in cash costs, all-in sustaining costs and free cash flow are non-gaap measures. See Kirkland Lake Gold MD&A for period ending October 31, 2015 for a reconciliation of these non-gaap measures, as filed on SEDAR at TSX:KGI 30 klgold.com

31 Analyst Coverage Firm Analyst Firm Analyst GMP Dundee Securities CIBC World Markets Macquarie Capital Markets BMO Capital Markets M Partners Oliver Turner Mathew O Keefe Cosmos Chiu Ron Stewart Brian Quast Andrew Mikitchook Mirabaud Securities Richard Morgan Scotiabank Philip Ker PI Financial Pareto Securities National Bank Financial Clarus Securities Investec Bank Craig Johnston John McClintock Raj Ray Jamie Spratt Hunter Hillcoat Very Independent Research John Tumazos KIRKLAND LAKE GOLD IS FOLLOWED BY THE ANALYSTS LISTED ABOVE. THIS LIST IS PROVIDED FOR INFORMATION PURPOSES ONLY AND IS SUBJECT TO CHANGE AS COVERAGE IS ADDED OR DROPPED BY A FIRM. OPINIONS, ESTIMATES OR FORECASTS REGARDING KIRKLAND LAKE GOLD'S PERFORMANCE THAT ARE MADE BY THESE ANALYSTS ARE THEIRS ALONE AND DO NOT REPRESENT THE OPINIONS, ESTIMATES OR FORECASTS OF KIRKLAND LAKE GOLD OR ITS MANAGEMENT. KIRKLAND LAKE GOLD DOES NOT IMPLY ITS ENDORSEMENT OF, OR CONCURRENCE WITH, SUCH INFORMATION, CONCLUSIONS OR RECOMMENDATIONS AND TAKES NO RESPONSIBILITY FOR MONITORING, SUPPLEMENTING OR CORRECTING ANY INFORMATION OR FORECASTS PROVIDED BY THE ANALYSTS. TSX:KGI 31 klgold.com

32 Kirkland Lake Camp The Kirkland Lake gold camp has been in production for over 100 years One of the highest grade gold camps in the world Almost 25 Moz s has been produced to date, from seven mines KGI owns five former producing» Fifth high level grade mines with historical production of ~22 Moz s of gold Average head grade of 0.44 opt or 15.1 g/t Currently only mining and exploration on one of these past producers TSX:KGI 32 klgold.com

33 Board of Directors Pamela Klessig, P.Geo Experienced Team Eric Sprott 2 Non-executive Chairman Barry Cooper, B.Sc., MBA 1 Barry Olson, M.Sc. 1 Jeffrey Parr, CA, BA, MBA 1 Dawn Whittaker, LLB Senior Management George Ogilvie, P.Eng. Non-executive Director Non-executive Director Non-executive Director Non-executive Director Non-executive Director Director, President & Chief Executive Officer Perry Ing, CA, CFA 3 Chief Financial Officer Chris Stewart, P.Eng. Vice President, Operations Jennifer Wagner, LL.B. Corporate Legal Counsel Suzette N Ramcharan, CPIR Director, Investor Relations Kevin Fearn, BA, CHRP, CHRL Director, Human Resources 1 Appointed October 2014; 2 Appointed February 2015; 3 Appointed November 2015 TSX:KGI 33 klgold.com

34 PRODUCTION Change from F2013 to F % 91,518 ounces to 153,957 ounces Costs Savings Realized Over Past 9 Quarters Labour Rationalization -17% 1,214 employees to 1,003 employees Click F2014 to edit Master F2015 Fiscal Year Head Count (YE)* Savings (in millions of C$) F2013 1,214 - F2014 1,021 $19.3 M F2015 1,003 $1.8 M SY15_Q1 988 $1.5 M MANPOWER LEVELS Total Savings *Peak manpower levels were 1,244 persons in December F2013 SY15_Q1 $25.6 M 0.89 tons/ person 0.94 tons/ person 1.00 ton/ person 1.10 tons/ person TSX:KGI 34 klgold.com

35 Strengthened Financial Position Opening Cash Balance $80.3 M Closing Cash Balance $93.8 M Principal Amount of Convertible Debentures SY15_YE $119.5 M F2015 Click $38.9 to M edit Master $76.8 M text $80.3 styles M $38.9 M $121.5 M F2014 $126.5 M January 6, 2015 October 19, 2014 October 19, 2013 KGI.DB 6% Coupon Price - $97.0 YTM - 8.2% Price - $88.0 YTM % Price - $76.0 YTM % KGI.DB.A 7.5% Coupon Price - $98.5 YTM -9.2% Price - $92.0 YTM % Price - $72.5 YTM % Successful and well timed bought deal financing added $32.1 M in cash to the balance sheet in F2015. Initiated a Normal Course Issuer Bid in April 2015, to buy-back the convertible debentures trading at a discount to par. TSX:KGI 35 klgold.com

36 C$ Millions Capital Expenditures F2010 F2011 F2012 F2013 F2014 F2015 SY2015E Capital Expenditures (Mineral Properties) PP&E Project Capital was Completed in January 2014 C$9M in Capital Development of 5400L and SMC Main Decline to 5600L Spent in FY15 SY2015 Mineral Properties Expenditure guidance reduced from $18MM to $11MM, due to delayed delivery of new equipment purchases. TSX:KGI 36 klgold.com

37 04 Break Underground Drilling SELECTED HIGHLIGHTS DH g/t / 0.7 metres (2.53 opt/ 2.4 feet) DH g/t / 1.3 metres 0.80 opt/ 4.4 feet See press release dated February 23, 2015 TSX:KGI 37 klgold.com

38 Regional Exploration Plan View TSX:KGI 38 klgold.com

39 Near Surface Exploration Target Near surface mineralization is within 2 Km s of mill Mill has excess capacity of +/- 1,000 tpd Mineralization from 100 to 1,000 below surface Open across strike M&I: 299, opt (11.7gpt) 112,000 oz Inferred: 90, opt (14.4gpt) 42,000 oz TSX:KGI 39 klgold.com

40 (000's) KGI Reserve & Resource Estimates Resources are exclusive of Reserves Proven Probable Proven & Probable Zone Tons Grade Tonnes Grade Au Tons Grade Tonnes Grade Au Tons Grade Tonnes Grade Au (000's) opt g/t (000's) (000's) opt g/t (000's) opt g/t (000's) '04 & Main Break , South Mine Complex , , , MINERAL RESERVES - As at December 31, 2014 (000's) (000's) (000's) Macassa Mine Complex , , ,051 2, , ,463 Note: Columns may not add due to rounding. Macassa Mine Complex reserves the 04 & Main Break and the SMC. MINERAL RESOURCES - As at December 31, 2014 Measured Indicated Measured & Indicated Zone Tons Grade Tonnes Grade Au Tons Grade Tonnes Grade Au Grade Grade Fourth Tons level Tonnes Au (000's) opt (000's) g/t (000's) (000's) opt (000's) g/t (000's) (000's) opt (000's) g/t (000's) 04 & Main Break , SMC , Near Surface Target Property Wide , , ,599 4, , ,047 Inferred Zone Grade Grade Au Tons (000's) Tonnes (000's) opt g/t (000's) 04 & Main Break SMC 1, , Near Surface Target Note: Columns may not add due to rounding. Property Wide resources include the 04 & Main Break, SMC, Near Surface Target, as well as peripheral resources blocks (such as the Lakeshore Ramp). Property Wide 2, , ,777 TSX:KGI 40 klgold.com

41 QP Info and Notes to Reserves & Resources The reserve and resource estimates have been audited and verified, and the technical disclosure in thie press release dated April 13, 2015, has been approved, by the Company s independent reserve and resource engineer, Glenn R. Clark, P. Eng., of Glenn R. Clark & Associates Limited. Mr. Clark is a qualified person under National Instrument , Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators. The report detailing the December 31, 2014, reserve and resource estimates will be filed on SEDAR ( within 45 days of this press release. See Notes for Reserves and Resources below for key assumptions, parameters and methods used to estimate the foregoing reserves and resources. Notes Click for Reserves and to Resources: edit Master The reserves and resources have been classified according to the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves: Definition and Guidelines (December 2005). 1. The reserves and resources are estimated using the polygonal method. 2. Resources do not include reserves. 3. All intersections are calculated to a 6.0 foot minimum horizontal mining width for structures dipping at greater than 45 degrees. The minimum mining height for structures dipping less than 45 degrees is 9.0 feet. 4. Dilution is added to reserves at varying rates depending on the mining method, and the width of the ore. The average dilution of the reserves at December 31, 2014, Third is 27% level at 0.02 opt, marginally up from an average of 24.0% the previous year. Third Long-hole level stopes are diluted by anywhere between % (mostly 50%). Cut and fill stopes are diluted by anywhere between 10-50%. 5. All higher grades are cut Fourth to 3.50 opt. Based level on a statistical analysis completed by Scott Wilson Roscoe Fourth Postle Associates level Inc. in 2007, the Company has implemented various higher grade cutting factors for four zones in the South Mine Complex. These four zones are the New South Zone (7.20 opt), Lower D North» (9.30 Fifth opt), level Lower D North Footwall (4.80 opt), and the #7 and #7 HW Zones»(6.40 Fifth opt). Cut-off level grades of 0.22 opt and 0.18 opt are used for reserve and resource calculations respectively, depending on the location, and economics of the block. Generally, a cutoff of 0.22 opt is required on a whole-block basis to achieve profitability and reserve classification. It is possible to have sub-blocks within an ore reserve block that assay less than any cut-off which have been incorporated for mining or geotechnical reasons. Ore blocks that grade between 0.18 opt and the cut-off of 0.22 opt have been classified as resource. The cut-off grade for near-surface resources (surface to -1,000 foot elevation) is 0.12 opt. An internal report completed by Roscoe Postle and Associates in October 2014, suggest that the cutting factor for mineralization on the Amalgamated Trend be set at 2.50 opt. This grade capping was implemented by the Company and incorporated in the estimates for The area of influence of the proven and measured categories are 30 feet from development chip samples, probable and indicated categories are 50 feet of radius from a known sample point (drill holes) and inferred is another 50 feet of influence (between feet). 7. A 94.2% tonnage recovery is used. Continuity of the veins appears very good. 8. The assumptions used include CAD$1, (US$1,200) per ounce of gold. 9. The Company is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing or other issue that may materially affect its estimate of mineral resources. 10. Mineral resources which are not mineral reserves do not have demonstrated economic viability. TSX:KGI 41 klgold.com

42 TSX:KGI Suzette N Ramcharan, CPIR Director of Investor Relations Click to edit Master Mobile: sramcharan@klgold.com TSX:KGI 42 klgold.com