Name of the Project
Detour Lake gold project.

Location
Ontario, Canada.

Project Owner/s
Canadian gold mining company Kirkland Lake Gold.

Project Description
A new life-of-mine (LoM) plan at the Detour Lake project has shown that it could produce between 680 000 oz and 720 000 oz of gold from 2021 to 2024, before increasing to 800 000 oz of gold in 2025. Thereafter, production is expected to decline for three years during a period of increased stripping before reaching more than 900 000 oz starting in 2032.

Over the 22-year LoM, 14.5-million ounces of gold is expected to be produced at an average grade of 0.82 g/t and an average recovery rate of 91.9%. The LoM is based on a mineral reserve of13.8-million ounces at or above a 0.50 g/t cutoff grade, and two-million ounces of low-grade stockpile mineral reserves below a 0.50 g/t cutoff grade.

The possibility exists for an extended LoM, with an updated resource model incorporating 2020 and 2021 exploration drilling.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated pretax net present value, at a 5% discount rate, of R3.79-billion over the LoM, and R1.41-billion from 2021 to 2025.

Capital Expenditure
Total capital expenditure (capex) over the LoM is expected to reach $3.6-billion and about $1.5-billion from 2021 to 2025. Contributing to the level of capex in the first five years are several key projects, including $65-million to $75-million for projects aimed at increasing throughput in the mill to 28-million tonnes a year.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Kirkland Lake Gold senior VP investor relations Mark Utting, tel +1416840 7884 or email mutting@kl.gold.