Kirkland Lake Discoveries Corp. Announces Brokered Private Placement

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VANCOUVER, British Columbia, Sept. 17, 2026 (GLOBE NEWSWIRE) — Kirkland Lake Discoveries Corp. (TSXV: KLDC) (“ Kirkland ” or the “ Company ”) announces that it has entered into an engagement letter with Canaccord Genuity Corp. (“ Canaccord Genuity ”) pursuant to which Canaccord Genuity and a syndicate of agents (collectively, the “ Agents ”) will act as agents in connection with a “best efforts” private placement (the “ Offering ”) by the Company of (i) flow-through common shares (the “ FT Shares ”) of the Company at a price of $0.40 per FT Share, and special flow-through common shares (the “ Special FT Shares ”) of the Company at a price of $0.483 per Special FT Share, in any combination, for aggregate gross proceeds of up to approximately $10,000,000; and (ii) up to 14,285,714 common shares (the “ HD Shares ” and, together with the FT Shares and the Special FT Shares, the “ Offered Securities ”) of the Company at a price of $0.35 per HD Share for gross proceeds of up to approximately $5,000,000. Each of the FT Shares and Special FT Shares will qualify as a “flow-through share” for the purposes of the Income Tax Act (Canada).

In addition, the Company has granted the Agents an option to sell up to $2,250,000 of additional Offered Securities (the “ Agents’ Option ”) on the same terms and conditions, exercisable in whole or in part at any time up to 48 hours prior to the closing date of the Offering. The Agents’ Option may be exercised for FT Shares, Special FT Shares, HD Shares or a combination thereof (as agreed between the Company and the Agents) at the respective offering prices.

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The Offering is expected to close on or about October 8, 2026, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Offered Securities will be subject to a hold period of four months and one day from the closing of the Offering.

The Company agrees and covenants that it will use an amount equal to the gross proceeds received by the Company from the sale of the FT Shares and the Special FT Shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures” as both terms are defined in the Income Tax Act (Canada) (the “ Qualifying Expenditures ”) on or before December 31, 2027, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares and the Special FT Shares with an effective date of no later than December 31, 2026.