KIRKLAND LAKE GOLD INC. ANNUAL INFORMATION FORM For the year ended April 30, 2004 September 17, 2004 INDEX DESCRIPTION PAGE NO. GLOSSARY OF TERMS USED IN THIS ANNUAL INFORMATION FORM.................................................. 1 CORPORATE STRUCTURE ................................................................................................................................... 7 NAME AND INCORPORATION ..................................................................................................................................... 7 INTERCORPORATE RELATIONSHIPS............................................................................................................................ 7 OFFICES..................................................................................................................................................................... 7 REPORTING PERIOD................................................................................................................................................... 7 GENERAL DEVELOPMENT OF THE CORPORATION’S BUSINESS............................................................ 7 THREE-YEAR HISTORY.............................................................................................................................................. 7 Previous Operations............................................................................................................................................. 7 Acquisition of the Kirkland Lake Mining Assets .................................................................................................. 8 Plans for the Mine Properties and Assets ............................................................................................................ 8 Exploration of the Kirkland Lake Mining Properties........................................................................................... 9 Development of the Kirkland Lake Mining Assets................................................................................................ 9 Production............................................................................................................................................................ 9 Personnel.............................................................................................................................................................. 9 SIGNIFICANT ACQUISITIONS .................................................................................................................................... 10 DESCRIPTION OF THE CORPORATION’S BUSINESS.................................................................................. 10 SUMMARY ............................................................................................................................................................... 10 PRINCIPAL MARKETS .............................................................................................................................................. 10 DISTRIBUTION METHODS ........................................................................................................................................ 10 PRODUCTION AND SERVICES ................................................................................................................................... 10 SPECIALIZED SKILL AND KNOWLEDGE.................................................................................................................... 10 COMPETITIVE CONDITIONS...................................................................................................................................... 11 RAW MATERIALS (COMPONENTS)........................................................................................................................... 11 INTANGIBLE PROPERTY ........................................................................................................................................... 11 BUSINESS CYCLE & SEASONALITY.......................................................................................................................... 11 ECONOMIC DEPENDENCE ........................................................................................................................................ 11 RENEGOTIATION OR TERMINATION OF CONTRACTS ................................................................................................ 11 ENVIRONMENTAL PROTECTION............................................................................................................................... 11 EMPLOYEES............................................................................................................................................................. 12 FOREIGN OPERATIONS............................................................................................................................................. 12 LENDING ................................................................................................................................................................. 12 BANKRUPTCY REORGANIZATIONS........................................................................................................................... 12 MATERIAL REORGANIZATIONS................................................................................................................................12 SOCIAL OR ENVIRONMENTAL POLICIES ................................................................................................................... 12 RISK FACTORS......................................................................................................................................................... 13 MINERAL PROJECTS ........................................................................................................................................... 17 FIXED ASSETS – PROPERTY, PLANT AND EQUIPMENT ............................................................................................. 17 MINING PROPERTIES DESCRIPTION AND LOCATION ................................................................................................ 17 RECLAMATION BONDS AND PERMITS...................................................................................................................... 18 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES AND PHYSIOGRAPHY...................................................................... 18 HISTORY.................................................................................................................................................................. 19 Macassa Mine .................................................................................................................................................... 19 Lake Shore Mine................................................................................................................................................. 20 Kirkland Lake Gold Mine................................................................................................................................... 22 Teck-Hughes Mine.............................................................................................................................................. 22 Wright-Hargreaves Mine ................................................................................................................................... 23 GEOLOGICAL SETTING ............................................................................................................................................ 24 The Abitibi Greenstone Belt ............................................................................................................................... 24 The Kirkland Lake Mining Properties................................................................................................................ 25 i MINERALIZATION .................................................................................................................................................... 25 MINERAL RESERVE ESTIMATES............................................................................................................................... 26 CURRENT AND PROPOSED EXPLORATION AND DEVELOPMENT ............................................................................... 28 MINING OPERATIONS .............................................................................................................................................. 31 TAXES ..................................................................................................................................................................... 31 DIVIDENDS .............................................................................................................................................................. 32 DESCRIPTION OF CAPITAL STRUCTURE...................................................................................................... 32 GENERAL................................................................................................................................................................. 32 CONSTRAINTS.......................................................................................................................................................... 32 RATINGS.................................................................................................................................................................. 32 MARKET FOR SECURITIES ...............................................................................................................................