GOLD: KLGold passes 2016 guidance, sees 525,000 oz in 2017

TORONTO – Kirkland Lake Gold has passed its 2016 guidance with total production of 542,751 oz of gold. Looking ahead, the company has offered 2017 guidance of between 500,000 and 525,000 oz at an all-in sustaining cost of US$950 to US$1,000 per oz. [caption id="attachment_1003716589" align="alignright" width="300"] KLGold’s Macassa gold mine complex.[/caption] KLGold’s Canadian operations produced 295,838 attributable oz, compared to guidance of 270,000 to 290,000 oz. The Macassa mine in Kirkland Lake, ON, set a record output of 175,167 oz of gold with a record run of min grade at 16.52 g/t Au and record recovery of 97.1%. Development has advanced to the 5400, 5600 and 5700 levels at the Macassa South Mine Complex and production is to begin this year from these levels. Besides Macassa, the company operates the Holt, Taylor and Holloway gold mines in Ontario. In Australia, KL Gold operated the Fosterville, Cosmo and Stawell gold mines. Operations there also beat 2016 guidance with output of 239,724 oz. At the Fosterville mine, record gold production of 151,755 oz was obtained from a record grade of 7.65 g/t and record recovery of 90.1%. Mining was focused on the high grade lenses of the Lower Phoenix zone, a strategy that contributed to record fourth quarter grades of 9.45 g/t Au. The Stawell mine was placed on care and maintenance at the end of last year. The latest corporate presentation is posted at www.KLGold.com.