Toronto, Ontario--(Newsfile Corp. - March 3, 2026) - Kirkland Lake Discoveries (TSXV: KLDC) (OTCID: KLKLF) ("KLDC" or the "Company") is pleased to announce that, further to its news release dated December 18, 2025, the Company has completed its previously announced acquisition of the Mirado Gold Project (the "Acquisition").
"The acquisition of the Mirado Gold Project is a pivotal step for Kirkland Lake Discoveries. While the historical data is compelling, we believe we've only scratched the surface of what this property truly holds. By securing a 100% undivided interest, we now have the flexibility to aggressively test high-priority targets and expand the known footprint of the deposit. Our team is eager to get the drills turning and demonstrate the significant exploration upside we see at KL South" stated Stefan Sklepowicz, CEO of KLDC.
Acquisition Terms
The Company entered into a purchase agreement with Orecap Invest Corp. ("Orecap") on December 16, 2025, pursuant to which the Company acquired a 100% undivided interest in the mineral claims collectively known as the Mirado Property, free and clear of all liens and encumbrances.
As consideration for the Acquisition, KLDC issued 40,582,767 common shares of the Company ("Consideration Shares") valued at $0.215 per Consideration Share, equivalent to 19.9% of the issued and outstanding common shares of KLDC calculated immediately following closing of the Acquisition. The Consideration Shares are subject to a statutory four-month hold period expiring on July 3, 2026, as well as a contractual lock-up period of 12 months. No finder's fees were paid in connection with the transaction.
For further details regarding the Acquisition, please see the news release of the Company dated December 18, 2025 available on SEDAR+ at www.sedarplus.ca.
About Kirkland Lake Discoveries Corp.
Kirkland Lake Discoveries Corp. (TSXV: KLDC) has assembled a 400-km2 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, KLDC is positioned to advance a strong pipeline of drill-ready targets at KL South, KL East and KL West, supported by multiple anomalous soil trends, historical mineral showings, and structurally controlled intersections. The team combines strong technical experience with a focus on smart, efficient exploration designed to deliver results.
Building on exciting drill results from Summer 2025, KLDC has initiated a 25,000m drill program following up on drill-ready targets at our KL West site.
For additional information, please contact:
Stefan Sklepowicz
Chief Executive Officer
www.kirklandlakediscoveries.com
+1 226 979 3515
stefan@kirklandlakediscoveries.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things, the Company's proposed acquisition of the Mirado property, future drill programs, the results thereof, and the potential for new discoveries. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company does not assume any obligation to update forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286097
