KIRKLAND LAKE, ONTARIO--(Marketwire - May 21, 2012) - Kirkland Lake Gold Inc., ('Kirkland Lake' or the 'Company') (TSX:KGI)(AIM:KGI), an operating and exploration gold mining company located in Ontario, Canada, reports that a seasonal forest fire that started on May 20, 2012 passed nearby the Company's property and mill.
There was no damage to the Company's assets, but a short section of the power line feeding the mill and the three shaft complex was damaged by the fire. The mine was notified of the fire and the impending power interruption by the Ontario Ministry of Natural Resources, by Hydro-One, and by the Ontario Provincial Police in a timely manner. Company employees were able to close down and evacuate the mine in an organized and orderly way. A skeleton crew remains on site to keep the site secure, monitor the situation, and assist government and utility efforts as required. The two shaft power system remains on line and the company's emergency power systems are operating. Hydro-One crews have begun the work of assessing and repairing the damaged transmission line. All production activities are halted until power is restored.
Mr. Brian Hinchcliffe, President stated, "the Company wishes to thank the Ministry of Natural Resources, the Ontario Provincial Police, and Hydro-One, and all their local personnel, and all other Provincial and Local Government personnel involved for their tremendous efforts during this emergency situation. On behalf of the Board of Directors, we would also like to thank our employees for their response to and understanding of the current situation. The Company will release more information as it becomes available."
About the Company
The Company purchased the Macassa Mine and the 1,450 ton per day mill along with four former producing gold properties - Kirkland Lake, Teck-Hughes, Lake Shore and Wright Hargreaves - in December 2001. These properties, which have historically produced approximately 22 million ounces of gold, extend over seven kilometres between the Macassa Mine to the west and Wright Hargreaves to the east and, for the first time, are being developed and explored under one owner. This camp is located in the Southern Abitibi Greenstone Belt of Kirkland Lake, Ontario, Canada.
Cautionary Note Regarding Forward Looking Statements
This Press Release may contain statements which constitute 'forward-looking, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's Annual Information Form and quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. 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 be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.
Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release.