P.O.

Box 370
KIRKLAND LAKE, ON, P2N 3J7
Not for dissemination in the United States or through U.S.

newswires
February 4, 2010 Symbol - TSX & AIM: KGI
KIRKLAND LAKE GOLD INC.

CLOSES C$32.0 MILLION BOUGHT DEAL PRIVATE
PLACEMENT FINANCING
Kirkland Lake Gold Inc.

announced today the closing of its previously announced bought deal
private placement for gross proceeds of C$32,014,125.

The offering was underwritten by a
syndicate of underwriters, led by Wellington West Capital Markets Inc.

and including Dundee
Securities Corp., and acting as a placement agent, Ocean Equities Ltd.
The securities issued and issuable pursuant to the Offering will be subject to a restricted resale
period in Canada expiring on June 5, 2010.

Application is being made to the AIM Market of the
London Stock Exchange for the shares issued and issuable pursuant to the offering, to be
admitted for trading on February 11, 2010.

The new shares rank pari passu in all respects with
the existing issued shares.

It is expected that trading in the shares issued on closing will
commence on the Toronto Stock Exchange following the expiry of the four month hold period
applicable under Canadian securities legislation.
The net proceeds of the Offering will be used for exploration and development of the Company"s
mineral projects, working capital, and general corporate purposes.
"Kirkland Lake Gold has grown over the last year to over 425 employees.

As we make the
transition from a development Company to an intermediate gold producer, we are focused on
delivering the development work required to increase daily production and extend the life of our
mine in a conscientious and timely matter, concurrent with continuing our aggressive exploration
and ore-body definition program to expand our resource at the high grade South Mine Complex.
I would like to thank Wellington West, Dundee and Ocean Equities for their hard work and
continued support," commented Chairman Harry Dobson.
For further information, please contact:
Kirkland Lake Gold Inc.
Brian Hinchcliffe
President
1 705 567 5208
Fax: 1 705 568 6444

Kirkland Lake Gold Inc.
Lindsay Carpenter
Director of Investor Relations
416-840-7884

www.klgold.com
Kirkland Lake Gold Inc.
Scott Koyich
Investor Relations
1 403 215 5979

Pelham Public Relations
Chelsea Hayes
+44 20 7743 6675

NOMAD: Panmure Gordon (UK) Limited
Dominic Morley
+44 20 7459 3600

Ashton Clanfield
+44 20 7459 3600
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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy
any of the securities in the United States of America.

The securities have not been and will not
be registered under the United States Securities Act of 1933 (the "U.S.

Securities Act") or any
state securities laws and may not be offered or sold within the United States or to U.S.

Persons
(as defined in the U.S.

Securities Act) unless registered under the U.S.

Securities Act and
applicable state securities laws, or an exemption from such registration is available.