Press release from Marketwire
Kirkland Lake Gold Strengthens Board of Directors With the Appointment of Lead Non-Executive Director Claude Lemasson, P. Eng, MBA
Tuesday, July 23, 2013
Kirkland Lake Gold Strengthens Board of Directors With the Appointment of Lead Non-Executive Director Claude Lemasson, P. Eng, MBA02:00 EDT Tuesday, July 23, 2013
KIRKLAND LAKE, ONTARIO--(Marketwired - July 23, 2013) - Kirkland Lake Gold Inc. (the "Company" or "Kirkland Lake Gold") (TSX:KGI)(AIM:KGI), an operating and exploration gold mining company, is pleased to announce the appointment of Claude Lemasson, P Eng, MBA, as lead non-executive director with immediate effect.
Claude Francois Lemasson, aged 48, is a mining executive & director, professional engineer and a graduate of the Kellogg-Schulich EMBA program, with 25 years of experience in open pit and underground gold mining and the development of production expansion programs in North and South America. Previously, Claude spent 6 years as the Mine General Manager at Goldcorp's Red Lake mine where he worked closely with Kirkland Lake Gold's current Chief Operating Officer, together overseeing production growth to 600,000 ounces per year and putting the mine's high-grade zone into production. While with Goldcorp, Claude also spent time as General Manager of Projects for Canada and the US where he was responsible for all project management activities including environmental, exploration, technical studies, community relations and economic analysis. Most recently, Claude was the President, Chief Operating Officer, and Director of Guyana Goldfields Inc.
As Kirkland Lake Gold's lead non-executive Director, Claude has been appointed the Chair of the Company's recently formed Heath, Safety, and Environmental Committee and Chair of the Operations Committee.
Mr. Harry Dobson, Chairman of the Company, commented, "We are extremely pleased Claude will be joining our board as lead independent director. We are close to our transition to an intermediate gold producer, with our growth plans anchored around increasing production rates from the higher-grade South Mine Complex. Claude's experience managing a similar expansion program at Goldcorp's Red Lake mine will be a tremendous asset to the Company to help guide us to our ultimate production rate of 2,200 tons per day. We will be using his skills and expertise at the board level with his appointment as Chair of the Health, Safety and Environmental and Operations committees to enhance our strategic initiatives. On behalf of the board of directors, I welcome him to the team."
Claude Lemasson is also a current or past director of the following companies.
|Premier Gold Mines Ltd||Guyana Goldfields Inc|
Concurrently with his appointment, the Company granted to Mr. Lemasson an option to purchase 50,000 common shares of the Company pursuant to its stock option plan. The option expires on July 15, 2018 and is exercisable, in whole or in part, at a price of C$3.49 per share. The option vests immediately and in full. Mr. Lemasson does not hold any common shares of the Company.
There are no other matters under paragraph (g) of Schedule 2 of the AIM rules to be disclosed.
About the Company
Kirkland Lake Gold's corporate goal is to create a self-sustaining and long lived intermediate gold mining company based in the historic Kirkland Lake Gold Camp. The Company plans to do this by increasing production capacity to 2,200 tons of ore per day in several stages, and by decreasing production costs by realizing the economies of scale associated with that higher production capacity. At the same time, the Company is committed to maintaining a significant exploration program aimed at developing and maintaining a property-wide reserve and resource base sufficient to sustain a mine life of more than ten years for as long as practicable.
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.
Cautionary Note Regarding Forward-Looking Statements
This Press Release contains statements which constitute "forward-looking statements", including statements regarding the plans, intentions, beliefs and current expectations of the Company 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, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the Company's expectations in connection with the projects and exploration programs being met, the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, fluctuating gold prices, currency exchange rates (such as the Canadian dollar versus the United States Dollar), possible variations in ore grade or recovery rates, changes in accounting policies, changes in the Company's corporate mineral resources, changes in project parameters as plans continue to be refined, changes in project development, construction, production and commissioning time frames, risks related to joint venture operations, the possibility of project cost overruns or unanticipated costs and expenses, higher prices for fuel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, unexpected changes in mine life,, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, and limitations on insurance, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis and Annual Information Form for the year ended April 30, 2012 filed with the securities regulatory authorities in certain provinces of Canada and available 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 except as otherwise required by applicable law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kirkland Lake Gold Inc.
+1 705 567 5208
+1 705 568 6444 (FAX)
Kirkland Lake Gold Inc.
Director of Investor Relations
+1 705 568 6444 (FAX)
NOMAD: Panmure Gordon (UK) Limited
Callum Stewart / Adam James
+44 (0) 20 7 8862500