Kirkland Lake Gold Inc. (TSX:KGI) announced that its Board of Directors has initiated a strategic review process to explore alternatives for the enhancement of shareholder value. Chief Executive Officer George Ogilvie commented "While we continue to work on our plan to improve the Company's margins, the Board has approved a process to review and evaluate potential alternatives that may further maximize value for our shareholders”. George Ogilvie added, "The strategic review will encompass a careful evaluation of the Company's business plan, development strategy, market valuation and capital structure and will consider various alternatives for the Company, including the potential sale of the Company's shares or assets, and any other options identified by executive management with the fundamental objective of achieving the best value for the Company's shareholders”.

The Board has appointed a Special Committee comprised solely of independent directors to review and evaluate proposals considered as part of the strategic review process and to assess whether any such proposal may be more desirable than the continued operation of Kirkland Lake on a stand-alone basis, and to make recommendations to the Board thereon. The Special Committee is chaired by Dawn Whittaker and includes Brian Bayley and Pamela Klessig. National Bank of Canada (TSX:NA) and Stikeman Elliott LLP have been retained to advise Kirkland Lake in the process.