TORONTO, November 29, 2021 (GLOBE NEWSWIRE) – Kirkland Lake Gold Ltd. (“Kirkland Lake Gold“or the”Society“) (TSX: KL) (NYSE: KL) (ASX: KLA) announced today that the company has been advised by the Victoria Government of Victoria’s Environmental Protection Authority (” EPA “) that the EPA has determined that low frequency noise level (in the range of 16 to 20 Hz) is emitted by the Fosterville mine.
The EPA provided the company with an investigation notice and an improvement notice focused on the low-frequency noise it claims emanates from the mine. The notices include stated timeframes covering a period of just over two months to investigate and resolve the low-frequency noise issue, as well as to report changes introduced and new tests performed to the EPA. Additionally, the EPA has advised the Company that further action may be taken by the EPA that may result in restrictions on the use of certain equipment, primarily surface fans and surface drilling rigs in the section. south of the mining lease, overnight, while the remediation period is over. The potential impact of such measures on Fosterville operations, if they were to be put in place, is currently under investigation.
Fosterville management is aware of concerns expressed by residents in recent months regarding low frequency noise and has taken steps to assess and address these concerns. As part of these efforts, Fosterville commissioned two independent studies of noise levels produced by the mine. The studies were carried out by accredited noise and acoustics companies based in Australia, with both studies concluding that all noise generated by the mine was within regulatory limits.
The Company is working with the EPA to better understand the reasons for the notices issued and will take the necessary steps to ensure that its operations are and remain in compliance with all relevant regulatory requirements.
ABOUT KIRKLAND LAKE GOLD LTD.
Kirkland Lake Gold Ltd. is a leading low-cost gold producer operating in Canada and Australia targeting 1,300,000 to 1,400,000 ounces production in 2021. Kirkland Lake Gold’s production profile is based on three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in northern Ontario, and the Fosterville Mine located in Victoria, Australia. Kirkland Lake Gold’s strong, quality asset base is complemented by district-wide exploration potential, supported by a strong financial position, extensive management expertise and an overarching commitment to safe and responsible mining. .
FOR MORE INFORMATION, PLEASE CONTACT
Anthony Makuch, President, CEO and Director
Telephone: +1 416-840-7884
Email: tma[email protected]
Mark Utting, Senior Vice President, Investor Relations
Telephone: +1 416-840-7884
Email: [email protected]
Caution regarding forward-looking information
This press release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding Kirkland Lake Gold’s current plans, intentions, beliefs and expectations with respect to the future. business activities and future operating performance. Forward-looking information is often identified by the words âcouldâ, âwouldâ, âcouldâ, âshouldâ, âwillâ, âintentionâ, âplanâ, âanticipateâ, âbelieveâ, âestimateâ , âExpectâ or similar expressions and include information regarding: (i) the expected impact associated with the advice received and the Company’s ability to resolve the issue on time; (ii) the anticipated impact associated with additional restrictions imposed by the EPA on the Fosterville mine; (iii) expectations regarding anticipated costs and production at the Fosterville mine which may be further affected by the restrictions imposed by the EPA; (iv) expectations regarding the Company’s ability to remedy and reduce additional risks associated with current and future notices provided by the EPA within the time frames specified therein; and (v) expectations regarding other economic, business and / or competitive factors.
Investors are cautioned that forward-looking information is not based on historical facts but rather reflects the expectations, estimates or projections of the management of Kirkland Lake Gold regarding future results or events based on the opinions, assumptions and estimates of management. considered reasonable as of the date the statements are made. . Although Kirkland Lake Gold believes that the expectations reflected in this forward-looking information are reasonable, such information involves risks and uncertainties, and such information should not be relied on unduly because unknown or unforeseeable factors could have material adverse effects. on the future results, performance or achievements of the Fosterville mine. Key factors that could cause actual results to differ materially from those projected in the forward-looking information include: the ability to modify certain activities undertaken at the Fosterville gold mine in accordance with advice received from the EPA; the ability to reduce low frequency noise during the times provided; the potential impact of notices regarding planned production at the Fosterville gold mine; the potential impact on the Company’s relationships with regulators, employees, suppliers, customers and competitors; changes in economic, trade and general political conditions, including changes in financial markets; changes in applicable laws; and compliance with extensive government regulations, including the Environmental Protection Act 2017 (Vic) and applicable regulations; and the diversion of management time from the investigation required in response to the advice received. This forward-looking information may be affected by risks and uncertainties relating to Kirkland Lake Gold’s business and market conditions. This information is subject in its entirety to the caveats and risk factor information contained in the documents filed by Kirkland Lake Gold with the Canadian securities regulators, including the Kirkland Lake Gold Annual Information Form, the Statements financial statements and related MD&A for the year ended December 31, 2020, its interim financial reports and MD&A for the period ended September 30, 2021 and its joint management information circular dated October 29, 2021 filed with the securities regulators of certain provinces of Canada and available at www.sedar.com and www.sec.gov.
If one or more of these risks or uncertainties materialize, or if the assumptions underlying the forward-looking information prove to be incorrect, actual results could differ materially from those described in this document as being intended, planned, anticipated, believed, estimated or expected. Although Kirkland Lake Gold has attempted to identify risks, uncertainties and important factors that could cause actual results to differ materially, there may be others that could cause results to differ from those anticipated, estimated or planned. Kirkland Lake Gold does not intend, and assumes no obligation, to update this forward-looking information, except as otherwise required by applicable law.