Filed by Automated Filing Services Inc. (604) 609-0244 - Kirkland Lake Gold Inc. - Exhibit 10.1








P.O. Box 370

  Kirkland Lake, Ontario P2N 3J7, Canada

	August 3, 2007 	Symbol – TSX & AIM: KGI 


KIRKLAND LAKE TO TERMINATE ITS U.S. REPORTING


  OBLIGATIONS UNDER THE SECURITIES EXCHANGE ACT OF 1934

Kirkland Lake Gold Inc. (the “Company”) announced today
that its board of directors has authorized the deregistration and termination of
the Company’s reporting obligations under Sections 13(a) and 15(d) of the
Securities Exchange Act of 1934 (the “Exchange Act”). The deregistration
is expected to substantially reduce the Company’s regulatory compliance costs
while maintaining the liquidity of its common shares through the two principal
stock markets on which the shares trade, the Toronto Stock Exchange
(“TSX”) and the Alternative Investment Market of the London Stock
Exchange of the London Stock Exchange (“AIM”).

“Given that the Company never listed its shares on any U.S.
stock exchange we believe the Company derives very little benefit from
continuing to comply with additional regulatory requirements in the U.S.” stated
Brian Hinchcliffe, Company President and CEO.

The Company’s board of directors made this decision based on
its assessment that: (a) continued compliance with the rules of the US
Securities and Exchange Commission (the “SEC”) and the Exchange Act, in
particular Section 404 of the Sarbanes-Oxley Act of 2002, would be excessively
burdensome for the Company relative to the limited benefits it might realise
from such compliance, and (b) all investors of its common shares are protected
by applicable Canadian and UK securities legislation and the Company’s listing
on, and continued compliance with the rules of, the TSX and AIM.

In accordance with the applicable SEC rules, the Company
intends to promptly file a Form 15F with the SEC to deregister and terminate its
reporting obligations under the Exchange Act. Upon the filing of the Form 15F
the Company’s reporting obligations under the Exchange Act will immediately be
suspended. Deregistration will be effective 90 days after the filing. The
Company reserves the right to delay or withdraw the filing of the Form 15F for
any reason prior to its effectiveness.

The Company will post on its website at www.klgold.com links to all information that it has
made or is required to make public under Canadian law and stock exchange rules,
filed or is required to file with the TSX and AIM, or distributed or is required
to distribute to shareholders, in each case promptly after such information is
required to be made public. 

For further information, please contact:

	Brian Hinchcliffe 	Scott Koyich 
	President 	Investor Relations 
	Phone 1 705 567 5208 	Phone 1 403 215 5979 
	Fax 1 705 568 6444 	E-mail: info@klgold.com 
	E-mail: bhinchcliffe@klgold.com 	  
	  	  
	Chelsea Hayes 	NOMAD: Canaccord Adams Limited 
	Pelham Public Relations 	Email: Robin.Birchall@canaccordadams.com 
	Phone +020 7743 6675 	  


E-mail: chelsea.hayes@pelhampr.com

Website- www.klgold.com

  Neither the Toronto Stock Exchange nor the AIM Market of the
  London Stock Exchange plc has reviewed or accepts responsibility for the adequacy
  or accuracy of this news release.