Kirkland Lake Discoveries Corp. Corrects Broker Warrants Breakdown in Recent Press Release

Toronto, December 27, 2024 - Kirkland Lake Discoveries Corp. (TSXV: KLDC) (the "Company") wishes to issue a correction to its press release dated December 23, 2024, regarding the closing of its previously announced non-brokered private placement (the "Offering").

While the aggregate number of broker warrants issued in connection with the Offering was correctly stated as 871,199 broker warrants ("Broker Warrants") to eligible registrants assisting in the Offering, the breakdown of Broker Warrants exercisable at difference prices was misstated. The corrected breakdown is as follows:

1. 17,500 Broker Warrants are exercisable to acquire one common share of the Company at an exercise price of $0.08 for a period of 36 months; and
2. 853,699 Broker Warrants are exercisable to acquire one common share of the Company at an exercise price of $0.12 for a period of 36 months.

All other details relating to the Offering, including the terms of the Broker Warrants, remain accurate as previously disclosed. The Company apologizes for any confusion and thanks its stakeholders for their understanding.

About Kirkland Lake Discoveries Corp.

Kirkland Lake Discoveries Corp. is a TSX Venture Exchange-listed company that has recently consolidated a district-scale, highly prospective land package in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are situated within the Abitibi Greenstone Belt, one of the world's most richly endowed greenstone belts, with over 200 million ounces of gold produced to date.

The Company's properties host regional and property-scale mineralized structures, considered second-order structures off the Larder Lake Cadillac Deformation Zone (LLCDZ), a major regional structure known for its spatial association with gold mines in the camp.

The properties assembled by the Company are grouped into two key areas: KL East, which includes the Lucky Strike Property, Arnold Property, and KL Central, and KL West, which encompasses the Goodfish-Kirana and the KL West Properties. KLDC's land position spans approximately 38,000 ha over 1,338 claims and 29 patented claims, making the Company the largest landholder in the Kirkland Lake region.

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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 - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks relating to final regulatory approvals. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including the receipt of all regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235402