Kirkland Lake Discoveries Expands Mirado Gold System with 80 m Step Out Including 4.4 m of 20.29 g/t Au

Kirkland Lake Discoveries Corp. has released assay results from seven drill holes, KLM26-020 through KLM26-026, at the Mirado Gold Project within its KL South portfolio. The company states the results demonstrate broad near-surface mineralization, high-grade gold below the historical resource shell, and an extension of the North Zone. Six holes at the MZ Zone and four regional holes southwest of Mirado have been completed but remain unassayed, with a total of 22 additional holes pending assays.

The reported intercepts include:

• KLM26-022, South Zone: 177.6 m to 182.0 m, 4.4 m at 20.29 g/t Au, including 180.0 m to 182.0 m, 2.0 m at 44.72 g/t Au.
• KLM26-022, South Zone: 104.0 m to 117.4 m, 13.4 m at 0.78 g/t Au; 189.0 m to 200.0 m, 11.0 m at 0.62 g/t Au; 258.0 m to 299.0 m, 41.0 m at 0.22 g/t Au.
• KLM26-021, South Zone: 123.8 m to 165.0 m, 41.2 m at 0.34 g/t Au, including 142.6 m to 163.0 m, 20.4 m at 0.52 g/t Au.
• KLM26-021, South Zone deeper: 265.0 m to 283.0 m, 18.0 m at 1.33 g/t Au, including 271.0 m to 281.0 m, 10.0 m at 2.34 g/t Au.
• KLM26-023, North Zone: 37.9 m to 47.0 m, 9.1 m at 2.27 g/t Au, including 41.0 m to 46.0 m, 5.0 m at 3.98 g/t Au.
• KLM26-023, North Zone: 191.0 m to 212.0 m, 21.0 m at 0.34 g/t Au; 219.0 m to 229.0 m, 10.0 m at 0.42 g/t Au; 299.3 m to 301.8 m, 2.6 m at 2.36 g/t Au.
• KLM26-024, South Zone: 163.1 m to 193.0 m, 29.9 m at 0.32 g/t Au; 209.0 m to 227.0 m, 18.0 m at 1.33 g/t Au, including 209.0 m to 220.0 m, 11.0 m at 2.06 g/t Au; 259.0 m to 295.0 m, 36.0 m at 0.20 g/t Au; 305.0 m to 316.0 m, 11.0 m at 0.25 g/t Au.
• KLM26-025, North Zone near-surface: 6.0 m to 16.0 m, 10.0 m at 0.60 g/t Au, including 6.0 m to 9.3 m, 3.3 m at 1.64 g/t Au.
• KLM26-020, South Zone: 172.0 m to 196.0 m, 24.0 m at 0.19 g/t Au, including 172.0 m to 179.0 m, 7.0 m at 0.34 g/t Au; 332.5 m to 347.0 m, 14.5 m at 0.15 g/t Au.
• KLM26-026, South Zone: 367.0 m to 376.0 m, 9.0 m at 0.40 g/t Au.

According to the release, the reported composites use a 0.2 g/t Au cutoff, include up to 6.9 m of internal dilution, are uncut, and are estimated to represent approximately 80% true width of core length.

Kirkland Lake Discoveries Corp. (KLDC) is not issuing an earnings release, so there are no new financial results to assess. Prior-period context from the provided financials indicates that Q2-2026 net loss was CAD 2.99 million, cash was CAD 4.26 million at June 30, 2026, working capital was approximately CAD 4.04 million, and management flagged going-concern uncertainty. This financial context matters because the company is drilling aggressively but remains dependent on equity financing.

For a grassroots or pre-resource explorer, a new discovery hole can be highly material. For KLDC, Mirado is the near-term catalyst asset, so assay results there are more relevant than routine regional news. However, this release does not transform the thesis.

The best previously reported Mirado intercept remains KLM26-004: 39.35 g/t Au over 16.4 m, or approximately 645 gram-metres. Other strong prior results include KLM26-002 at 1.01 g/t Au over 121 m, or approximately 122 gram-metres, and KLM26-017 at 18.99 g/t Au over 6.7 m, or approximately 127 gram-metres. The new best intercept, KLM26-022 at approximately 89 gram-metres, is a substantial step down from the best earlier high-grade result.

The share price history shows that the market already re-rated the stock sharply in April and May 2026, then gave back much of that move. The stock rose from roughly CAD 0.19 in mid-April to a close of CAD 0.64 on May 12, 2026, then declined to CAD 0.28 by August 18, 2026. Therefore, the current price does not appear to be fully pricing in a repeat of the best earlier bonanza-style intercepts. The new result is weaker than the earlier anchor, but it is not a fresh failure against an embedded high expectation because the stock has already de-rated significantly.

The release is therefore best viewed as incremental confirmation: Mirado still has high-grade gold and step-out mineralization, but the intercepts are not yet large or consistent enough to change the resource case. It supports continued exploration, but it does not prove a new economic deposit.

Kirkland Lake Discoveries Corp. is a Canadian junior exploration company focused on gold and polymetallic targets in the Kirkland Lake region of Ontario’s Abitibi greenstone belt, reporting a 420 km² exploration portfolio. Key assets include KL South, anchored by the Mirado Gold Project and the MZ Zone; KL West, which encompasses Winnie Lake, Wolverine Bend, Hammerhead, Nine Mile, Sharp, and other targets; and KL East, described as part of the broader district-scale portfolio.

Mirado was acquired from Orecap Invest Corp. The closing involved the issuance of 40,582,767 common shares at CAD 0.215 per share, representing approximately 19.9% of the company post-closing. The acquisition gave KLDC a 100% interest in the Mirado mineral claims. Mirado has a historical resource referenced by the company as 10.6 Mt at 1.29 g/t Au containing approximately 442,000 oz Au. This is a historical estimate and should not be treated as a current NI 43-101 mineral resource. No current resource or reserve is disclosed in the release.

The company’s capital structure is diluted relative to the basic share count. The investor presentation cites approximately 204.2 million shares outstanding, 13.5 million options and 28.4 million warrants. The provided Q2-2026 financials show 205,629,206 shares outstanding. Using the August 18, 2026 close of CAD 0.28, the approximate market capitalization is CAD 57.6 million.

Not an earnings release — prior-period financial context: cash was CAD 4.26 million at June 30, 2026, working capital was approximately CAD 4.04 million, and management disclosed material uncertainty related to going concern.