TORONTO, ONTARIO — (Marketwired) — 06/12/16 — Kirkland Lake Gold Inc., (“Kirkland Lake Gold” or the “Company”) (TSX:KGI) an intermediate gold producer with operations in Ontario, Canada, announced today that George Ogilvie has resigned from the Company and that the Board of Directors has appointed Anthony (Tony) P. Makuch as Chief Executive Officer. Mr. Makuch will join Kirkland Lake Gold in the coming weeks after finishing in his current role, and Barry Olson, Director, will assume the role of Interim Chief Executive Officer until that time.
“After careful consideration, the Board of Directors has determined that Tony is ideally positioned to lead Kirkland Lake Gold into the next stage of its development,” said Eric Sprott, Chairman of the Board of Directors. “Tony’s track record of leadership in the gold mining industry and his demonstrated ability to grow and optimize production will be excellent assets for Kirkland Lake Gold.”
Mr. Makuch brings over 25 years of management, operations and technical experience in the mining industry, most notably as President and Chief Executive Officer of Lake Shore Gold. Under his leadership, Lake Shore Gold increased production and reserves, lowered costs and increased margins, leading to substantial value creation. Most recently, he was President of Canadian Operations, Tahoe Resources Inc.
“We want to thank George Ogilvie for his efforts in leading the Company to this point, and we wish him success in his future endeavors,” Mr. Sprott added.
“I’m proud of what the team and I have accomplished at Kirkland Lake Gold, and I wish the Company well as it executes on its strategy of building a profitable and long-lived intermediate gold miner,” Mr. Ogilvie said.
In light of the fact that Mr. Ogilvie is no longer with the Company, he will not be standing for election as a director at the Company’s Annual General Meeting, to be held at 11:00 am (Toronto time) on Monday, June 13, 2016 at the offices of Stikeman Elliott LLP, Commerce Court West, 199 Bay Street, Toronto, Ontario. The Board anticipates that Mr. Makuch will be added to the Board of Directors in due course.
About the Company
Kirkland Lake Gold Inc. is a Canadian focused, intermediate gold producer with assets in the historic Kirkland Lake gold camp, and east of the Timmins gold camp along the Porcupine-Destor Fault Zone, both in northeastern Ontario. The Company is currently targeting annual gold production of between 270,000 to 290,000 ounces from its cornerstone asset, the Macassa Mine Complex and the recently acquired East Timmins Operations.
The Company is committed to building a sustainable mining company that is recognized as a safe and responsible gold producer with quality assets in safe mining jurisdictions.
The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news release.
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