Kirkland Lake Discoveries Signs Definitive Agreement to Acquire the Mirado Project with Historical Gold Inferred Resource of 10.6 Mt at 1.29 g/t for 442,000 oz

Kirkland Lake Discoveries has executed a definitive purchase agreement with Orecap Invest Corp. to acquire the Mirado Gold Project, marking a significant expansion of the company's asset portfolio. The transaction, formalized on December 16, 2025, involves a 2,500-hectare gold property that hosts a historical inferred resource of 10.6 million tonnes grading 1.29 grams per tonne gold, containing approximately 442,000 ounces of gold.

The Mirado Gold Project represents a substantial addition to KLDC's resource base, providing immediate scale with nearly half a million ounces of historical gold resources. The property's 2,500-hectare footprint offers significant exploration upside, with management highlighting strong opportunities for near-resource expansion. This acquisition aligns with the broader trend of junior mining companies consolidating attractive gold assets in established mining jurisdictions.

For the gold sector, this transaction demonstrates continued consolidation activity as companies seek to build critical mass and diversify their project portfolios. The historical resource grade of 1.29 g/t gold falls within economically viable parameters for potential future development, particularly given current gold price environments. The deal structure and timing suggest KLDC is positioning itself for growth in the gold space, leveraging existing resources while maintaining exploration upside potential.