Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Kirkland Lake Gold Inc. - Exhibit 4(a).18

KIRKLAND LAKE GOLD INC. 

SUBSCRIPTION AGREEMENT FOR FLOW-THROUGH SHARES 

	TO:	KIRKLAND LAKE GOLD INC.
	 	 
	AND TO:	FORT HOUSE INC.
	 	OCTAGON CAPITAL CORPORATION
	 	(collectively, the “Agents”)

 The undersigned (the “Subscriber”) hereby
  irrevocably subscribes for and agrees to purchase from Kirkland Lake Gold Inc.
  (the “Corporation”) that number of flow-through Common Shares
  (the “Flow-Through Shares”) set out below at a price of $4.00
  per Flow-Through Share. The Subscriber agrees to be bound by the terms and conditions
  set forth in the attached “Terms and Conditions of Subscription for Flow-Through
  Shares” including without limitation the representations, warranties and
  covenants set forth in the applicable schedules attached thereto. The Subscriber
  further agrees, without limitation, that the Corporation and the Agents may
  rely upon the Subscriber’s representations, warranties and covenants contained
  in such documents. 

SUBSCRIPTION AND SUBSCRIBER INFORMATION 

 Please print all information (other than signatures), as
  applicable, in the space provided below 

			 
	 		Number of Flow-Through Shares:
                                                             x
      $4.00
	(Name of Subscriber) 	 	 
	 		=
	 	 	 
	Account Reference (if applicable): 	 	 
	 		Aggregate Subscription Price: ____________________________________________
	By: _________________________________________________________________	 	                                         (the
      “Subscription Price”)
	      Authorized
      Signature 	 	 
			 
	 		If the Subscriber
      is signing as agent for a principal (beneficial purchaser)
	 (Official Capacity or Title – if the Subscriber
      is not an individual) 	 	and is not purchasing as trustee
      or agent for accounts fully managed by it,
	 		complete the following:
	 	 	 
	 (Name of individual whose signature appears
      above if different than the 	 	 
	name of the subscriber printed above.) 	 	(Name of Principal)
	 	 	 
	 	 	 
	(Subscriber’s Address, including Province)
    	 	(Principal’s Address)
	 	 	 
	 	 	 
	S.I.N. or Tax Account Number of Subscriber 	 	 
	 	 	 
	 	 	 
	(Telephone Number)                                                                
      (Email Address)	 	 
	 	 	 
	 	 	 
	 	 	 
	Account Registration Information:
      	 	Delivery Instructions:
	 	 	 
	 	 	 
	(Name) 	 	(Name)
			 
	 		(Account Reference, if applicable)
	 	 	 
	(Account Reference, if applicable) 	 	 
	 		(Address)
	 	 	 
	(Address, including Postal Code) 	 	(Contact Name)                                                                  (Telephone
      Number)
	 	 	 
	 	 	 
	 Number and kind of securities
      of the Corporation held, if any: 	 	1. State whether
      Subscriber is an insider of the Corporation:
			 
	 		Yes     ̈      No        ̈  
			 
			 
			 
			 

 TERMS AND CONDITIONS OF SUBSCRIPTION FOR 

  FLOW-THROUGH SHARES  

ARTICLE 1 - INTERPRETATION 

 1.1                
  Definitions  

           (a)
         Whenever used in this Subscription
  Agreement, unless there is something in the subject matter or context inconsistent
  therewith, the following words and phrases shall have the respective meanings
  ascribed to them as follows: 

 “Agency Agreement” means the Agency Agreement
  to be entered into between the Agents and the Corporation in respect of the
  Offering. 

 “Agents” means Fort House Inc. and Octagon
  Capital Corporation. 

 “Broker Warrants” shall have the meaning
  ascribed to such term in Section 8.1. 

 “Business Day” means a day other than a Saturday,
  Sunday or any other day on which the principal chartered banks located in Toronto
  are not open for business. 

 “Canadian Exploration Expense” or “CEE”
  means an expense of the nature referred to in paragraphs (f) or (g) of the definition
  of Canadian exploration expense in subsection 66.1(6) of the Tax Act other than
  the cost of acquiring or obtaining the use of seismic data described in paragraph
  66(12.6)(b.1) of the Tax Act or any expenses for prepaid services or rent that
  do not qualify as outlays and expenses for the period as described in the definition
  "expense" in subsection 66(15) of the Tax Act. 

 “Closing” shall have the meaning ascribed
  to such term in Section 4.1. 

“Closing Date” shall have the meaning ascribed
  to such term in Section 4.1. 

“Closing Time” shall have the meaning ascribed
  to such term in Section 4.1. 

“Common Shares” means the common shares in
  the capital of the Corporation. 

 “Control Person” means a person, company
  or combination of persons or companies described in clause (c) of the definition
  of “distribution” in subsection 1(1) of the Securities Act
  (Ontario). 

 “Corporation” means Kirkland Lake Gold Inc.
  and includes any successor corporation to or of the Corporation. 

 “Flow-Through Mining Expenditure” means an
  expense which is a “flow-through mining expenditure” as defined in
  subsection 127(9) of the Tax Act. 

 “Flow-Through Shares” means “flow-through
  shares” as defined in subsection 66(15) of the Tax Act. 

 “Offering” means the offering of up to $7,700,000
  of Flow-Through Shares pursuant to this Subscription Agreement and the Agency
  Agreement. 

 3 

 “person” means any individual (whether acting
  as an executor, trustee administrator, legal representative or otherwise), corporation,
  firm, partnership, sole proprietorship, syndicate, joint venture, trustee, trust,
  unincorporated organization or association, and pronouns have a similar extended
  meaning. 

 “Prescribed Forms” means the forms prescribed
  from time to time under subsection 66(12.7) of the Tax Act and under the applicable
  provision of the Taxation Act (Québec) as described in paragraph
  1.1(b) hereof filed or to be filed by the Corporation within the prescribed
  times renouncing to the Subscriber the Resource Expenses incurred pursuant to
  this Subscription Agreement and all parts or copies of such forms required by
  Revenue Canada and under the Taxation Act (Québec) as described
  in paragraph 1.1(b) hereof to be delivered to the Subscriber. 

 “Prescribed Relationship” means a relationship
  between the Corporation and the Subscriber where the Subscriber and the Corporation
  are related or otherwise do not deal at arm’s length for purposes of the
  Tax Act. 

 “Resource Expense” means an expense which
  is CEE, including a Flow-Through Mining Expenditure, which is incurred on or
  after the Closing Date and on or before the Termination Date which may be renounced
  by the Corporation pursuant to subsection 66(12.6) of the Tax Act with an effective
  date not later than December 31, 2003 and in respect of which, but for the renunciation,
  the Corporation would be entitled to a deduction from income for income tax
  purposes. 

 “Revenue Canada” means the Canada Customs
  and Revenue Agency. 

 “Securities Laws” means, as applicable, the
  securities laws, regulations, rules, rulings and orders in each of the provinces
  of Canada, the applicable policy statements issued by the securities regulators
  in each of the provinces and territories of Canada, and the rules of the TSX.

 “Subscriber” means the subscriber for the
  Flow-Through Shares as set out on the face page of this Subscription Agreement.

 “Subscription Agreement” means this subscription
  agreement (including any schedules hereto) and any instrument amending this
  Subscription Agreement. 

 “Subscription Price” shall have the meaning
  ascribed to such term on the face page of this Subscription Agreement. 

 “Tax Act” means the Income Tax Act
  (Canada), as amended, re-enacted or replaced from time to time. 

 “Term Sheet” means the term sheet delivered
  to potential purchasers of Flow-Through Shares, a copy of which is attached
  hereto as Schedule “A”. 

 “Termination Date” means December 31, 2004.

 “TSX” means the Toronto Stock Exchange. 

 “TSX Approval” means the conditional approval
  of the Offering by the TSX. 

 “United States” means the United States of
  America, its territories and possessions, any State of the United States and
  the District of Columbia. 

 “U.S. Person” shall have the meaning ascribed
  to such term in Rule 902(k) of Regulation S under the U.S. Securities Act. 

 4 

 “U.S. Securities Act” means the United States
  Securities Act of 1933, as amended. 

           (b)
         Any reference to a word or term defined
  in the Tax Act shall include, for purposes of Québec income taxation,
  a reference to the equivalent word or term, if any, defined in the Taxation
  Act (Québec) as such act may be amended, reenacted or replaced from
  time to time. Any reference to the Tax Act or a provision thereof shall include,
  for purposes of Québec income taxation, a reference to the Taxation
  Act (Québec) or the equivalent provision thereof as such act may
  be amended, re-enacted or replaced from time to time. Any reference to a filing
  or similar requirement imposed under the Tax Act shall include, for purposes
  of Québec income taxation, a reference to the equivalent filing or similar
  requirement, where applicable, under the Taxation Act (Québec)
  as the Tax Act may be amended, re-enacted or replaced from time to time; provided
  that, if no filing or similar requirement is provided under the Taxation
  Act (Québec), a copy of any material filed under the Tax Act shall
  be filed with the Ministère de Revenue du Québec. 

 1.2                
  Gender and Number  

                        Words
  importing the singular number only shall include the plural and vice versa,
  words importing the masculine gender shall include the feminine gender and words
  importing persons shall include firms and corporations and vice versa. 

 1.3                
  Currency  

                        Unless
  otherwise specified, all dollar amounts in this Subscription Agreement, including
  the symbol “$”, are expressed in Canadian dollars. 

 1.4                
  Subdivisions, Headings and Table of Contents  

                        The
  division of this Subscription Agreement into Articles, Sections, Schedules and
  other subdivisions, the inclusion of headings and the provision of a table of
  contents are for convenience of reference only and shall not affect the construction
  or interpretation of this Subscription Agreement. The headings in this Subscription
  Agreement are not intended to be full or precise descriptions of the text to
  which they refer. Unless something in the subject matter or context is inconsistent
  therewith, references herein to an Article, Section, Subsection, paragraph,
  clause or Schedule are to the applicable article, section, subsection, paragraph,
  clause or schedule of this Subscription Agreement. 

ARTICLE 2 - SCHEDULES 

 2.1                
  Description of Schedules  

                        The
  following are the Schedules attached to and incorporated in this Subscription
  Agreement by reference and deemed to be a part hereof: 

	 	Schedule	“A” -	Term Sheet

	 	Schedule	“B” -	Certificate of an Accredited Investor

	 	Schedule	“C” -	Certificate of an Eligible Purchaser

	 	Schedule	“D” -	Manitoba Residents not purchasing as an Accredited
        Investor Only - Manitoba Form 8

	 	Schedule	“E” -	TSX Private Placement Questionnaire and Undertaking

	 	Schedule 	“F” -	Saskatchewan Residents purchasing under the Family
        and Friends Exemption Only – Form 45-103F5 Report Acknowledgement

 5 

 ARTICLE 3 - SUBSCRIPTION AND DESCRIPTION OF FLOW-THROUGH
  SHARES  

 3.1                
  Subscription for the Flow-Through Shares  

                        The
  Subscriber hereby confirms its irrevocable subscription for and offer to purchase
  the Flow-Through Shares from the Corporation, on and subject to the terms and
  conditions set out in this Subscription Agreement, for the Subscription Price
  which is payable as described in Article 4. 

 3.2                
  Description of Flow-Through Shares  

                        Upon
  issue, the Flow-Through Shares will be “flow-through shares” as defined
  is subsection 66(15) of the Tax Act and are not and will not be prescribed shares
  within the meaning of section 6202.1 of the regulations to the Tax Act. The
  Corporation agrees to: 

(a) incur or be deemed to incur Resource Expenses in an amount
  equal to the Subscription Price during the period from and after the Closing
  Date to and including December 31, 2004, 4/7ths of which shall qualify as Flow-Through
  Mining Expenditures; and 

(b) renounce Resource Expenses as described in paragraph (a)
  equal to the Subscription Price to the Subscriber with an effective date of
  no later than December 31, 2003. 

 3.3                
  Acceptance and Rejection of Subscription by the Corporation  

                        The
  Subscriber acknowledges and agrees that the Corporation reserves the right,
  in its absolute discretion, to reject this subscription for Flow-Through Shares,
  in whole or in part, at any time prior to the Closing Time. If this subscription
  is rejected in whole, any cheques or other forms of payment delivered to the
  Agents representing the Subscription Price will be promptly returned to the
  Subscriber without interest or deduction. If this subscription is accepted only
  in part, a cheque representing any refund of the Subscription Price for that
  portion of the subscription for the Flow-Through Shares which is not accepted,
  will be promptly delivered to the Subscriber without interest or deduction.

ARTICLE 4 - CLOSING 

 4.                
  Closing  

                        Delivery
  and sale of the Flow-Through Shares and payment of the Subscription Price will
  be completed (the “Closing”) at the offices of the Corporation’s
  counsel, O'Neill & Company, Suite 1880 Royal Centre, 1055 West Georgia Street,
  Vancouver, British Columbia V6E 3P3 at 10:00 a.m. (Vancouver time) (the “Closing
  Time”) on November 14, 2003 or such other place or date or time as
  the Corporation and the Agents may agree (the “Closing Date”).
  If, prior to the Closing Time, the terms and conditions contained in this Subscription
  Agreement and the Agency Agreement have been complied with to the satisfaction
  of the Agents, or waived by the Agents, the Agents shall deliver to the Corporation
  all completed Subscription Agreements and payment of the aggregate Subscription
  Price for all of the Flow-Through Shares sold pursuant to the Agency Agreement
  against delivery by the Corporation of certificates representing the Flow-Through
  Shares and such other documentation as may be required pursuant to the Subscription
  Agreement and the Agency Agreement. 

                        If,
  prior to the Closing Time, the terms and conditions contained in this Subscription
  Agreement (other than delivery by the Corporation to the Subscriber of certificates
  representing the Flow-Through Shares) and the Agency Agreement have not been
  complied with to the satisfaction of the 

 6 

 Agents, or waived by them, the Agents, the Corporation and
  the Subscriber will have no further obligations under this Subscription Agreement.

 4.2                
  Conditions of Closing  

                        The
  Offering is conditional upon, among other things, the Corporation obtaining
  TSX Approval. 

                        The
  Subscriber acknowledges and agrees that the obligations of the Corporation hereunder
  are conditional on the accuracy of the representations and warranties of the
  Subscriber contained in this Subscription Agreement as of the date of this Subscription
  Agreement, and as of the Closing Time as if made at and as of the Closing Time,
  and the fulfillment of the following additional conditions as soon as possible
  and in any event not later than the Closing Time: 

	 	(a)	payment by the Subscriber of the Subscription
        Price by certified cheque or bank draft in Canadian dollars payable to
        “Fort House Inc.”;

	 	 	 
	 	(b)	the Subscriber having properly completed,
        signed and delivered this Subscription Agreement to:

	 	 	 	 	Fort House Inc.
	 	 	 	 	130 King Street West
	 	 	 	 	Suite 3690
	 	 	 	 	Toronto, Ontario M5X 1C7
	 	 	 	 	 
	 	 	 	 	Attention: Lestra M. Sedman
	 	 	 	 	Fax: (416) 869-8650

	 	(c)	the Subscriber having properly
        completed, signed and delivered one of either Schedule “B”,
        or “C”, as applicable:

	 	 	 	 
	 	 	(i)

          
	ALL ONTARIO SUBSCRIBERS
        AND THOSE BRITISH COLUMBIA, ALBERTA, SASKATCHEWAN,
        MANITOBA, NOVA SCOTIA, NEWFOUNDLAND
        AND LABRADOR OR PRINCE EDWARD ISLAND SUBSCRIBERS SUBSCRIBING
        AS “ACCREDITED INVESTORS”

      if the Subscriber is resident in Ontario or otherwise
        subject to the Securities Laws in the Province of Ontario or is resident
        in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba,
        Nova Scotia, Newfoundland and Labrador or Prince Edward Island or otherwise
        subject to the Securities Laws in the Provinces of British Columbia, Alberta,
        Saskatchewan, Manitoba, Nova Scotia, Newfoundland and Labrador or Prince
        Edward Island and is purchasing as an “accredited investor”,
        a duly completed and executed certificate as set forth in Schedule
        “B” evidencing the Subscriber’s status as an accredited
        investor;

      

	 	 	 	 
	 	 	(ii)
	
        ALL SUBSCRIBERS NOT RESIDENT
          IN ONTARIO AND NOT SUBSCRIBING
          AS “ACCREDITED INVESTORS”

         if the Subscriber, or any person for whom it is acting, is not
          resident

      

 

	 	 	 	in Ontario and not subscribing
        under the criteria set-out in Schedule “B”, a duly completed
        and executed certificate as set forth in Schedule “C” evidencing
        the Subscriber’s (and, if the Subscriber is acting as agent for another
        person, such other person’s) status as an eligible purchaser;

	 	 	 	 
	 	(d)	if the Subscriber is a resident
        in or otherwise subject to the Securities Laws in the Province of Manitoba
        and is not subscribing under the criteria set out in Schedule “B”,
        the Subscriber having properly completed, signed and delivered the Manitoba
        Form 8 attached as Schedule “D”;

	 	 	 	 
	 	(e)	if the Subscriber is a resident
        in or otherwise subject to the Securities Laws in the Province of Saskatchewan
        and is subscribing under the Family and Friends Exemption, the
        Subscriber having properly completed, signed and delivered the Form 45-103F5
        Report Acknowledgement attached hereto as Schedule “E”; and

	 	 	 	 
	 	(f)	the Subscriber having properly
        completed, signed and delivered the TSX Private Placement Questionnaire
        and Undertaking set out as Schedule “F” hereto.

 4.3                
  Authorization of the Agents  

                        The
  Subscriber irrevocably authorizes the Agents in their discretion, to act as
  the Subscriber’s representative at the Closing, and hereby appoints the
  Agents, with full power of substitution, as its true and lawful attorney with
  full power and authority in the Subscriber’s place and stead: 

	 	(a)
 	to receive certificates representing
        the Flow-Through Shares, to execute in the Subscriber’s name and
        on its behalf all closing receipts and required documents, to complete
        and correct any errors or omissions in any form or document provided by
        the Subscriber in connection with the subscription for the Flow-Through
        Shares and to exercise any rights of termination contained in the Agency
        Agreement;

	 	 	 
	 	(b)	to extend such time periods and to waive,
        in whole or in part, any representations, warranties, covenants or conditions
        for the Subscriber’s benefit contained in this Subscription Agreement,
        and the Agency Agreement or any ancillary or related document;

	 	 	 
	 	(c)	to terminate this Subscription Agreement
        if any condition precedent is not satisfied, in such manner and on such
        terms and conditions as the Agents in their sole discretion may determine;
        and

	 	 	 
	 	(d)	without limiting the generality of the
        foregoing, to negotiate, settle, execute, deliver and amend the Agency
        Agreement.

 ARTICLE 5 - REPRESENTATIONS AND WARRANTIES OF THE CORPORATION
   

 5.1                
  Representations, Warranties and Covenants of the Corporation  

                        The
  Corporation hereby represents and warrants to, and covenants with the Subscriber
  as follows and acknowledges that the Subscriber is relying on such representations
  and warranties in connection with the transactions contemplated herein: 

8

	 	(a)	Upon issue, the Flow-Through
        Shares will be "flow-through shares" as defined in subsection 66(15) of
        the Tax Act and are not and will not be prescribed shares within the meaning
        of section 6202.1 of the regulations to the Tax Act and the applicable
        provisions of the Taxation Act (Québec). The Corporation
        does not have and will not have prior to the Termination Date a Prescribed
        Relationship with the Subscriber and, if the Subscriber is a partnership,
        any partner or limited partner of the partnership.

	 	 	 
	 	(b)	The Corporation is a "principal-business
        corporation" as defined in subsection 66(15) of the Tax Act and will continue
        to be a "principal-business corporation" until such time as all of the
        Resource Expenses required to be renounced under this Subscription Agreement
        have been incurred and validly renounced pursuant to the Tax Act.

	 	 	 
	 	(c)	The Corporation has no reason
        to believe that it will be unable to incur, on or after the Closing Date
        and on or before the Termination Date or that it will be unable to renounce
        to the Subscriber effective on or before December 31, 2003, Resource Expenses
        in an aggregate amount equal to the Subscription Price and the Corporation
        has no reason to expect any reduction of such amount by virtue of subsection
        66(12.73) of the Tax Act.

	 	 	 
	 	(d)	The Corporation hereby agrees
        to incur Resource Expenses in an amount equal to the Subscription Price
        on or before the Termination Date in accordance with this Subscription
        Agreement and agrees to renounce to the Subscriber, with an effective
        date no later than December 31, 2003, pursuant to subsection 66(12.6)
        of the Tax Act, and, in respect of Resource Expenses incurred by the Corporation
        in 2004, pursuant to subsection 66(12.66) of the Tax Act, Resource Expenses
        in an amount equal to the Subscription Price. For greater certainty, the
        Corporation may renounce to the Subscriber, with an effective date no
        later than December 31, 2003, either (i) Resource Expenses deemed to be
        incurred by it in 2003 pursuant to a renunciation to the Corporation by
        a corporation related to it, for purposes of the Tax Act, of Resource
        Expenses incurred by that corporation in 2003 if the renunciation by that
        corporation to the Corporation is pursuant to subsection 66(12.6) of the
        Tax Act and has an effective date in 2003, or (ii) Resource Expenses deemed
        to be incurred by it in 2004 pursuant to a renunciation to the Corporation
        by a corporation related to it, for the purposes of the Tax Act, of Resource
        Expenses incurred by that corporation in 2004 if the renunciation by that
        corporation to the Corporation is pursuant to subsection 66(12.66) of
        the Tax Act and has an effective date in 2004.

	 	 	 
	 	(e)	The Corporation shall deliver
        to the Subscriber, within the time prescribed under the Tax Act, the relevant
        Prescribed Forms, fully completed and executed, renouncing to the Subscriber
        Resource Expenses in an amount equal to the Subscription Price with an
        effective date of no later than December 31, 2003, such delivery constituting
        the authorization of the Corporation to the Subscriber to file such Prescribed
        Forms with the relevant taxation authorities.

	 	 	 
	 	(f)	The Resource Expenses to
        be renounced by the Corporation to the Subscriber:

	 	 	 	 
	 	 	(i)
	will constitute CEE on the effective
        date of the renunciation;

9

	 	 	(ii)
	will not include expenses that are "Canadian
        exploration and development overhead expenses" (as defined in the Regulations
        to the Tax Act for purposes of paragraph 66(12.6)(b) of the Tax Act) of
        the Corporation or amounts which constitute specified expenses for seismic
        data described in paragraph 66(12.6)(b.1) of the Tax Act or any expenses
        for prepaid services or rent that do not qualify as outlays and expenses
        for the period as described in the definition of "expense" in subsection
        66(15) of the Tax Act;

	 	 	 	 
	 	 	(iii)
	will not include any amount that has
        previously been renounced by the Corporation to the Subscriber or to any
        other Person;

	 	 	 	 
	 	 	(iv)
	would be deductible by the Corporation
        in computing its income for the purposes of Part I of the Tax Act but
        for the renunciation to the Subscriber; and

	 	 	 	 
	 	 	(v)
	will not be subject to any reduction
        under subsection 66(12.73) of the Tax Act.

	 	 	 
	 	(g)	The Corporation shall not
        reduce the amount renounced to the Subscriber pursuant to subsection 66(12.6)
        of the Tax Act.

	 	 	 
	 	(h)	The Corporation shall not
        be subject to the provisions of subsection 66(12.67) of the Tax Act in
        a manner which impairs its ability to renounce Resource Expenses to the
        Subscriber in an amount equal to the Subscription Price.

	 	 	 
	 	(i)	If the Corporation receives,
        or becomes entitled to receive, any government assistance which is described
        in paragraph (a) of the definition of "excluded obligation" in subsection
        6202.1(5) of the Regulations to the Tax Act and the receipt of or entitlement
        to receive such government assistance has or will have the effect of reducing
        the amount of CEE validly renounced to the Subscriber hereunder to less
        than the Subscription Price, the Corporation shall remit to the Subscriber
        the benefit of all amounts received or receivable in respect of such government
        assistance to the extent of such reduction.

	 	 	 
	 	(j)	The Corporation shall use
        the proceeds of the Offering to finance exploration expenditures on its
        properties in and around Kirkland Lake, Ontario.

	 	 	 
	 	(k)	The Corporation shall file
        with Revenue Canada the form prescribed by subsection 66(12.68) of the
        Tax Act, together with a copy of this Subscription Agreement, within the
        time period prescribed by the Tax Act.

	 	 	 
	 	(l)	The Corporation covenants
        and agrees that if the Corporation fails to renounce Resource Expenses
        to the Subscriber in an amount equal to the Subscription Price with an
        effective date no later than December 31, 2003, or if the amount renounced
        is reduced pursuant to subsection 66(12.73) of the Tax Act (except as
        a result of any amendment to the Tax Act), the Corporation shall indemnify
        the Subscriber as to and pay in settlement thereof to the Subscriber,
        an amount equal to the amount of any tax payable under the Tax Act (and
        any corresponding provincial tax legislation) by the Subscriber as a consequence
        of such failure to renounce or such reduction, as the case may be.

10

	 	(m)	The Subscriber shall have the benefit of the representations
        and warranties made by the Corporation to the Agents and set forth in
        the Agency Agreement. Such representations and warranties shall form an
        integral part of this Subscription Agreement and shall survive the closing
        of the purchase and sale of the Flow-Through Shares and shall continue
        in full force and effect for the benefit of the Subscriber in accordance
        with the Agency Agreement.

 ARTICLE 6- ACKNOWLEDGEMENTS, COVENANTS, REPRESENTATIONS
  AND  

  WARRANTIES OF THE SUBSCRIBER  

 6.1                
  Acknowledgements, Representations, Warranties and Covenants of the Subscriber
   

                        The
  Subscriber, on its own behalf and, if applicable, on behalf of others for whom
  it is acting hereunder, hereby represents and warrants to, and covenants with,
  the Corporation as follows and acknowledges that the Corporation and the Agents
  are relying on such representations and warranties in connection with the transactions
  contemplated herein: 

	 	(a)	The Subscriber and each beneficial person
        for whom it is acting is a resident in the jurisdiction set out on the
        face page of this Subscription Agreement. Such address was not created
        and is not used solely for the purpose of acquiring the Flow-Through Shares
        and the Subscriber and any beneficial person was solicited to purchase
        in such jurisdiction.

	 	 	 
	 	(b)	The Subscriber has properly completed,
        executed and delivered within applicable time periods to the Corporation
        the applicable certificate(s) (dated as of the date hereof) set forth
        in Schedules “B” through “F” and the information contained
        therein is true and correct.

	 	 	 
	 	(c)	The representations, warranties and
        covenants contained in the applicable Schedules will be true and correct
        both as of the date of execution of this Subscription Agreement and as
        of the Closing Time.

	 	 	 
	 	(d)	The Subscriber or any person for whom
        it is acting is neither a U.S. Person nor subscribing for the Flow-Through
        Shares for the account of a U.S. Person or for resale in the United States
        and the Subscriber confirms that the Flow-Through Shares have not been
        offered to the Subscriber in the United States and that this Subscription
        Agreement has not been signed in the United States.

	 	 	 
	 	(e)	Neither the Subscriber nor any person
        for whom it is acting will offer, sell or otherwise dispose of the Flow-Through
        Shares in the United States or to a U.S. Person unless the Corporation
        has consented to such offer, sale or distribution and such offer, sale
        or disposition is made in accordance with an exemption from the registration
        requirements under the U.S. Securities Act and the securities laws of
        all applicable states of the United States or the U.S. Securities and
        Exchange Commission has declared effective a registration statement in
        respect of such securities.

	 	 	 
	 	(f)	The Subscriber confirms that the Flow-Through
        Shares have not been offered to the Subscriber or any beneficial person
        for whom it is acting in the United States and that this Subscription
        Agreement has not been signed in the United States.

11

	 	(g)
   	If the Subscriber, or any beneficial
        person for whom it is acting, is not a person resident in Canada, the
        subscription for the Flow-Through Shares by the Subscriber, or such beneficial
        purchaser, does not contravene any of the applicable securities legislation
        in the jurisdiction in which the Subscriber or such beneficial person
        resides and does not give rise to any obligation of the Corporation or
        the Agents to prepare and file a prospectus or similar document or to
        register the Flow-Through Shares or to be registered with or to file any
        report or notice with any governmental or regulatory authority.

      

	 	 	 
	 	(h)
   	The execution and delivery of this Subscription
        Agreement, the performance and compliance with the terms hereof, the subscription
        for the Flow-Through Shares and the completion of the transactions described
        herein by the Subscriber will not result in any material breach of, or
        be in conflict with or constitute a material default under, or create
        a state of fact which, after notice or lapse of time, or both, would constitute
        a material default under any term or provision of the constating documents,
        by-laws or resolutions of the Subscriber, the Securities Laws or any other
        laws applicable to the Subscriber, any agreement to which the Subscriber
        is a party, or any judgment, decree, order, statute, rule or regulation
        applicable to the Subscriber.

      

	 	 	 
	 	(i)
   	The Subscriber is subscribing for the
        Flow-Through Shares as principal for its own account and not for the benefit
        of any other person (within the meaning of applicable Securities Laws)
        and not with a view to the resale or distribution of all or any of the
        Flow-Through Shares or if it is not subscribing as principal, it acknowledges
        that the Corporation may be required by law to disclose to certain regulatory
        authorities the identity of each beneficial Subscriber for the Flow-Through
        Shares for whom it is acting.

      

	 	 	 
	 	(j)
   	In the case of a subscription for the
        Flow-Through Shares by the Subscriber acting as trustee or agent (including,
        for greater certainty, a portfolio manager or comparable adviser) for
        a principal, the Subscriber is duly authorized to execute and deliver
        this Subscription Agreement and all other necessary documentation in connection
        with such subscription on behalf of each such beneficial person, each
        of whom is subscribing as principal for its own account, not for the benefit
        of any other person and not with a view to the resale or distribution
        of the Flow-Through Shares and this Subscription Agreement has been duly
        authorized, executed and delivered by or on behalf of and constitutes
        a legal, valid and binding agreement of, such principal, and the Subscriber
        acknowledges that the Corporation and the Agents may be required by law
        to disclose the identity of each beneficial Subscriber for whom the Subscriber
        is acting.

      

	 	 	 
	 	(k)
   	In the case of a subscription for the
        Flow-Through Shares by the Subscriber acting as principal, this Subscription
        Agreement has been duly authorized, executed and delivered by, and constitutes
        a legal, valid and binding agreement of, the Subscriber. This Subscription
        Agreement is enforceable in accordance with its terms against the Subscriber
        and any beneficial purchasers on whose behalf the Subscriber is acting.

      

12

	 	(l)	If the Subscriber is:

	 	 	 	 
	 	 	(i)

          
	a corporation, the Subscriber has been
        duly created and is validly subsisting under the laws of its jurisdiction
        of incorporation and has all requisite legal and corporate power and authority
        to execute and deliver this Subscription Agreement, to subscribe for the
        Flow-Through Shares as contemplated herein and to carry out and perform
        its obligations under the terms of this Subscription Agreement;

      

	 	 	 	 
	 	 	(ii)

          
	a partnership, syndicate or other form
        of unincorporated organization, the Subscriber has the necessary legal
        capacity and authority to execute and deliver this Subscription Agreement
        and to observe and perform its covenants and obligations hereunder and
        has obtained all necessary approvals in respect thereof; or

      

	 	 	 	 
	 	 	(iii)

          
	an individual, the Subscriber is of
        the full age of majority and is legally competent to execute this Subscription
        Agreement and to observe and perform his or her covenants and obligations
        hereunder.

      

	 	 	 
	 	(m)
   	Other than the Agents, there
        is no person acting or purporting to act in connection with the transactions
        contemplated herein who is entitled to any brokerage or finder’s
        fee. If any person establishes a claim that any fee or other compensation
        is payable in connection with this subscription for the Flow-Through Shares,
        the Subscriber covenants to indemnify and hold harmless the Corporation
        and the Agents with respect thereto and with respect to all costs reasonably
        incurred in the defence thereof.

      

	 	 	 
	 	(n)	The Subscriber is not and
        after the Closing will not be, with respect to the Corporation or any
        of its affiliates, a Control Person.

	 	 	 
	 	(o)
   	If required by applicable
        Securities Laws or the Corporation, the Subscriber will execute, deliver
        and file or assist the Corporation in filing such reports, undertakings
        and other documents with respect to the issue of the Flow-Through Shares
        as may be required by any securities commission, stock exchange or other
        regulatory authority.

      

	 	 	 
	 	(p)
   	In addition to compliance
        with the restrictions on resale under applicable Securities Laws to which
        the Flow-Through Shares may be subject, if the Subscriber is a resident
        of either Ontario or Manitoba (and, in the case of Manitoba, is not purchasing
        as an “accredited investor”) at the time of such initial trade,
        the Subscriber is required to file with the Ontario Securities Commission
        or the Manitoba Securities Commission, as applicable, within 10 days of
        the initial trade (other than a trade otherwise exempted from the prospectus
        requirements) in any of the Flow-Through Shares, a report in Form 45-501F2,
        in the case of Ontario residents, or Form 8A, in the case of Manitoba
        residents, along with the applicable fee.

      

	 	 	 
	 	(q)
   	The Subscriber, and each
        beneficial person for whom it is contracting hereunder, have been advised
        to consult their own legal and tax advisors with respect to trading in
        the Flow-Through Shares, the resale restrictions imposed by the Securities
        Laws of the province in which the Subscriber resides and other

      

13

	 	 	applicable securities laws
        and the tax consequences of purchasing the Flow-Through Shares, and acknowledges
        that no representation has been made respecting the applicable hold periods
        imposed by the Securities Laws other resale restrictions applicable to
        such securities which restrict the ability of the Subscriber (or others
        for whom it is contracting hereunder) to resell such securities or tax
        consequences of the Flow-Through Shares, that the Subscriber (or others
        for whom it is contracting hereunder) is solely responsible to find out
        what these restrictions and consequences are and the Subscriber is solely
        responsible (and neither the Corporation nor the Agents are in any way
        responsible) for compliance with applicable resale restrictions and the
        Subscriber is aware that it (or beneficial persons for whom it is contracting
        hereunder) may not be able to resell such securities except in accordance
        with limited exemptions under the Securities Laws and other applicable
        securities laws.

	 	 	 
	 	(r)	The Subscriber has not received
        or been provided with a prospectus, offering memorandum, within the meaning
        of the Securities Laws, or any sales or advertising literature in connection
        with the Offering and the Subscriber’s decision to subscribe for
        the Flow-Through Shares was not based upon, and the Subscriber has not
        relied upon, any verbal or written representations as to facts made by
        or on behalf of the Corporation or the Agents. The Subscriber’s decision
        to subscribe for the Flow-Through Shares was based solely upon the Term
        Sheet attached hereto as Schedule “A” and information about
        the Corporation which is publicly available (any such information having
        been obtained by the Subscriber without independent investigation or verification
        by the Agents).

	 	 	 
	 	(s)	The Subscriber is not purchasing
        Flow-Through Shares with knowledge of material information concerning
        the Corporation which has not been generally disclosed.

	 	 	 
	 	(t)	No person has made any written
        or oral representations:

	 	 	 	 
	 	 	(i)
	that any person will resell or repurchase
        the Flow-Through Shares;

	 	 	 	 
	 	 	(ii)
	that any person will refund the Subscription
        Price; or

	 	 	 	 
	 	 	(iii)
	as to the future price or value of the
        Flow-Through Shares.

	 	 	 
	 	(u)	The subscription for the
        Flow-Through Shares has not been made through or as a result of, and the
        distribution of the Flow-Through Shares is not being accompanied by any
        advertisement, including without limitation in printed public media, radio,
        television or telecommunications, including electronic display, or as
        part of a general solicitation.

	 	 	 
	 	(v)	There are risks associated
        with the purchase of and investment in the Flow-Through Shares and the
        Subscriber, and each beneficial person for whom it is contracting hereunder,
        is knowledgeable, sophisticated and experienced in business and financial
        matters and is capable of evaluating the merits and risks of an investment
        in the Flow-Through Shares, fully understands the restrictions on resale
        of the Flow-Through Shares and is able to bear the economic risk of an
        investment in the Flow-Through Shares.

14

 6.2                
  Acknowledgments of the Subscriber  

                        The
  Subscriber, on its own behalf and, if applicable, on behalf of others for whom
  it is acting hereunder, acknowledges and agrees as follows: 

	 	(a)	The Subscriber has received
        a copy of the Term Sheet setting out the principal terms of the Offering.

	 	 	 	 
	 	(b)	No securities commission,
        agency, governmental authority, regulatory body, stock exchange or other
        regulatory body has reviewed or passed on the merits of the Flow-Through
        Shares.

	 	 	 	 
	 	(c)	The Flow-Through Shares
        shall be subject to statutory resale restrictions under the Securities
        Laws of the province in which the Subscriber resides and under other applicable
        securities laws, and the Subscriber covenants that it will not resell
        the Flow-Through Shares except in compliance with such laws and the Subscriber
        acknowledges that it is solely responsible (and neither the Corporation
        nor the Agents is in any way responsible) for such compliance.

	 	 	 	 
	 	(d)	The Subscriber’s ability
        to transfer the Flow-Through Shares is limited by, among other things,
        applicable Securities Laws.

	 	 	 	 
	 	(e)	The certificates representing
        the Flow-Through Shares will bear, as of the Closing Date, legends substantially
        in the following form and with the necessary information inserted:

	 	 	 	 
	 	 	 	UNLESS PERMITTED UNDER SECURITIES
        LEGISLATION, THE HOLDER OF THE SECURITIES SHALL NOT TRADE THE SECURITIES
        BEFORE <INSERT DATE THAT IS FOUR (4) MONTHS AND ONE (1) DAY AFTER CLOSING
        DATE>.

	 	 	 	 
	 	 	In addition, the Flow-Through
        Shares will also bear a legend substantially in the following form:

	 	 	 	 
	 	 	 	THE SECURITIES REPRESENTED BY THIS
        CERTIFICATE ARE LISTED ON THE TORONTO STOCK EXCHANGE, HOWEVER, THE SAID
        SECURITIES CAN NOT BE TRADED THROUGH THE FACILITIES OF SUCH EXCHANGE SINCE
        THEY ARE NOT FREELY TRANSFERABLE, AND CONSEQUENTLY ANY CERTIFICATE REPRESENTING
        SUCH SECURITIES IS NOT 'GOOD DELIVERY' IN SETTLEMENT OF TRANSACTIONS ON
        THE TORONTO STOCK EXCHANGE.

	 	 	 	 
	 	(f)	 The Agents and their directors,
        officers, employees, agents and representatives assume no responsibility
        or liability of any nature whatsoever for the accuracy or adequacy of
        any such publicly available information concerning the Corporation or
        as to whether all information concerning the Corporation that is required
        to be disclosed or filed by the Corporation under the Securities Laws
        has been so disclosed or filed.

15

	 	(g)	The Subscriber, and each beneficial
        person for whom it is contracting hereunder, shall execute, deliver, file
        and otherwise assist the Corporation and the Agents with filing all documentation
        required by the applicable Securities Laws to permit the subscription
        for the Flow-Through Shares and the issuance of the Flow-Through Shares.

	 	 	 
	 	(h)	The Corporation is relying on the representations,
        warranties and covenants contained herein and in the applicable Schedules
        attached hereto to determine the Subscriber’s eligibility to subscribe
        for the Flow-Through Shares under applicable Securities Laws and the Subscriber
        agrees to indemnify the Corporation, the Agents and each of their directors
        and officers against all losses, claims, costs, expenses, damages or liabilities
        which any of them may suffer or incur as a result of or arising from reliance
        thereon. The Subscriber undertakes to immediately notify the Corporation
        of any change in any statement or other information relating to the Subscriber
        set forth in such applicable Schedules which takes place prior to the
        Closing Time.

	 	 	 
	 	(i)	The Corporation is relying on an exemption
        from the requirement to provide the Subscriber with a prospectus under
        the Securities Laws and, as a consequence of acquiring the Flow-Through
        Shares pursuant to such exemption, certain protections, rights and remedies
        provided by the Securities Laws, including statutory rights of rescission
        or damages, will not be available to the Subscriber.

	 	 	 
	 	(j)	Flow-Through Shares have not been and
        will not be registered under the U.S. Securities Act and may not be offered
        or sold in the United States or to U.S. Persons unless registered under
        such act or an exemption from the registration requirements of such act
        is available.

	 	 	 
	 	(k)	The Subscriber, and each beneficial
        person for whom it is contracting hereunder, is responsible for obtaining
        such legal and tax advice as it considers appropriate in connection with
        the execution, delivery and performance of this Subscription Agreement
        and the transactions contemplated under this Subscription Agreement.

	 	 	 
	 	(s)	There is no government or other insurance
        covering the Flow-Through Shares.

	 	 	 
	 	(t)	There are risks associated with the
        purchase of the Flow-Through Shares.

 6.3                
  Reliance on Representations, Warranties, Covenants and Acknowledgements
   

                        The
  Subscriber acknowledges and agrees that the representations, warranties, covenants
  and acknowledgements made by the Subscriber in this Subscription Agreement are
  made with the intention that they may be relied upon by the Corporation and
  the Agents in determining the Subscriber’s eligibility (and, if applicable,
  the eligibility of others for whom the Subscriber is contracting hereunder)
  to purchase the Flow-Through Shares under the Securities Laws. The Subscriber
  further agrees that by accepting the Flow-Through Shares, the Subscriber shall
  be representing and warranting that such representations, warranties, acknowledgements
  and covenants are true as at the Closing Time with the same force and effect
  as if they had been made by the Subscriber at the Closing Time and that they
  shall survive the purchase by the Subscriber of the Flow-Through Shares and
  shall continue in full force and effect notwithstanding any subsequent disposition
  by the Subscriber of any of the Flow-Through Shares. 

 16 

 ARTICLE 7 - SURVIVAL OF REPRESENTATIONS, WARRANTIES AND
  COVENANTS  

 7.1                
  Survival of Representations, Warranties and Covenants of the Corporation
   

                        The
  representations, warranties and covenants of the Corporation contained in this
  Subscription Agreement shall survive the Closing for a period of two years and,
  notwithstanding such Closing or any investigation made by or on behalf of the
  Subscriber with respect thereto, shall continue in full force and effect for
  the benefit of the Subscriber and the Agents. 

 7.2                
  Survival of Representations, Warranties and Covenants of the Subscriber
   

                        The
  representations, warranties and covenants of the Subscriber contained in this
  Subscription Agreement shall survive the Closing and, notwithstanding such Closing
  or any investigation made by or on behalf of the Corporation or the Agents with
  respect thereto, shall continue in full force and effect for the benefit of
  the Corporation and the Agents. 

ARTICLE 8 - COMMISSION 

 8.1                
  Commission to the Agents  

                        The
  Subscriber understands that in connection with the issue and sale of the Flow-Through
  Shares pursuant to the Offering, the Agents will receive from the Corporation
  on Closing, a cash commission equal to 5% of the gross proceeds of the Offering.
  The Corporation will also grant to the Agents, non-assignable Broker Warrants
  equal to 5% of the number of Flow-Through Shares sold pursuant to the Offering.
  Each Broker Warrant shall be exercisable by the Agents to acquire one non-flow-through
  Common Share of the Corporation at a price of $3.60 per share for a period of
  24 months following the Closing Date. No other fee or commission is payable
  by the Corporation in connection with the completion of the Offering. However,
  the Corporation will pay certain fees and expenses of the Agents in connection
  with the Offering as set out in the Agency Agreement. 

ARTICLE 9- MISCELLANEOUS 

 9.1                
  Further Assurances  

                        Each
  of the parties hereto upon the request of each of the other parties hereto,
  whether before or after the Closing Time, shall do, execute, acknowledge and
  deliver or cause to be done, executed, acknowledged and delivered all such further
  acts, deeds, documents, assignments, transfers, conveyances, powers of attorney
  and assurances as may reasonably be necessary or desirable to complete the transactions
  contemplated herein. 

 9.2                
  Notices  

	 	(a)	Any notice, direction or
        other instrument required or permitted to be given to any party hereto
        shall be in writing and shall be sufficiently given if delivered personally,
        or transmitted by facsimile tested prior to transmission to such party,
        as follows:

	 	 	 	 
	 	 	(i)	in the case of the Corporation, to:

       Kirkland Lake Gold Inc.

17

	 	 	 	Suite 300, 570 Granville Street
	 	 	 	Vancouver, British Columbia
	 	 	 	V6C 3P1
	 	 	 	 
	 	 	 	Attention:    President
	 	 	 	Fax:               
      (604) 681-4692
	 	 	 	 
	 	 	 	with a copy to :
	 	 	 	 
	 	 	 	O'Neill & Company
	 	 	 	Barristers & Solicitors
	 	 	 	Suite 1880 Royal Centre
	 	 	 	1055 West Georgia Street
	 	 	 	Vancouver, British Columbia
	 	 	 	V6E 3P3
	 	 	 	 
	 	 	 	Attention:    Michael Provenzano
	 	 	 	Fax:               
      (604) 687-5792
	 	 	 	 
	 	 	(ii)	in the case of the Subscriber, at the address specified on
      the face page
	      	 	 	hereof, with a copy to the Agents at:
	 	 	 	 
	 	 	 	Fort House Inc.
	 	 	 	The Exchange Tower
	 	 	 	130 King Street West
	 	 	 	Suite 3690
	 	 	 	Toronto, Ontario M5X 1C7
	 	 	 	 
	 	 	 	Attention:    Dennis Wing
	 	 	 	Fax:               
      (416) 869-8650

	   	(b)	Any such notice, direction or other instrument,
        if delivered personally, shall be deemed to have been given and received
        on the day on which it was delivered, provided that if such day is not
        a Business Day then the notice, direction or other instrument shall be
        deemed to have been given and received on the first Business Day next
        following such day and if transmitted by fax, shall be deemed to have
        been given and received on the day of its transmission, provided that
        if such day is not a Business Day or if it is transmitted or received
        after the end of normal business hours then the notice, direction or other
        instrument shall be deemed to have been given and received on the first
        Business Day next following the day of such transmission.

	 	 	 
	 	(c)	Any party hereto may change its address
        for service from time to time by notice given to each of the other parties
        hereto in accordance with the foregoing provisions.

9.3                
  Time of the Essence  

                        Time
  shall be of the essence of this Subscription Agreement and every part hereof.

18

 9.4                
  Costs and Expenses  

                         Subject
  to Section 8.1 all costs and expenses (including, without limitation, the fees
  and disbursements of legal counsel) incurred in connection with this Subscription
  Agreement and the transactions herein contemplated shall be paid and borne by
  the party incurring such costs and expenses. 

 9.5                
  Applicable Law  

                        This
  Subscription Agreement shall be construed and enforced in accordance with, and
  the rights of the parties shall be governed by, the laws of the Province of
  Ontario and the laws of Canada applicable therein. Any and all disputes arising
  under this Subscription Agreement, whether as to interpretation, performance
  or otherwise, shall be subject to the non-exclusive jurisdiction of the courts
  of the Province of Ontario and each of the parties hereto hereby irrevocably
  attorns to the jurisdiction of the courts of such Province. 

 9.6                
  Entire Agreement  

                        This
  Subscription Agreement, including the Schedules hereto, constitutes the entire
  agreement between the parties with respect to the transactions contemplated
  herein and cancels and supersedes any prior understandings, agreements, negotiations
  and discussions between the parties. There are no representations, warranties,
  terms, conditions, undertakings or collateral agreements or understandings,
  express or implied, between the parties hereto other than those expressly set
  forth in this Subscription Agreement or in any such agreement, certificate,
  affidavit, statutory declaration or other document as aforesaid. This Subscription
  Agreement may not be amended or modified in any respect except by written instrument
  executed by each of the parties hereto. 

 9.7                
  Counterparts  

                        This
  Subscription Agreement may be executed in two or more counterparts, each of
  which shall be deemed to be an original and all of which together shall constitute
  one and the same Subscription Agreement. Counterparts may be delivered either
  in original or faxed form and the parties adopt any signature received by a
  receiving fax machine as original signatures of the parties. 

 9.8                
  Assignment  

                        This
  Subscription Agreement may not be assigned by either party except with the prior
  written consent of the other parties hereto. 

 9.9                
  Enurement  

                        This
  Subscription Agreement shall enure to the benefit of and be binding upon the
  parties hereto and their respective heirs, executors, successors (including
  any successor by reason of the amalgamation or merger of any party), administrators
  and permitted assigns. 

 19 

 9.10                Language
   

                        The
  parties hereto acknowledge and confirm that they have requested that this Subscription
  Agreement as well as all notices and other documents contemplated hereby be
  drawn up on the English language. Les parties aux présentes reconnaissent
  et conferment qu’elles ont convenu que la présente convention ainsi
  que tous les avis et documents qui s’y rattachent soient rédigés
  dans la langue anglaise. 

 The Corporation hereby accepts the subscription for Flow-Through
  Shares as set forth on the face page of this Subscription Agreement on the terms
  and conditions contained in the Subscription Agreement (including all applicable
  schedules) this ______ day of November, 2003. 

  

KIRKLAND LAKE GOLD INC.  

  

   Per: _____________________________

           Authorized Signing Officer 

	SCHEDULE “A”  

       TERM SHEET 

       KIRKLAND LAKE GOLD INC.  

       PRIVATE PLACEMENT OF FLOW-THROUGH SHARES 

	 

  

	The Issuer:	Kirkland Lake Gold Inc.
        (the “Corporation”).

	 	 
	Description of the Offering:	placement of flow-through
        common shares (the “Flow-Through Shares”). The Agents shall
        use their best efforts to arrange for the purchase of the Flow-Through
        Shares from the Corporation on a private placement basis.

	 	 
	Offering Amount:	Up to $7 million of Flow-Through
        Shares. The Agents shall have the option to increase the size of the Offering
        in whole or in part by up to an additional $0.7 million through the issuance
        of Flow-Through Shares on a best efforts basis at any time prior to Closing
        Date upon written notice to the Company (the “Option”).

	 	 
	Agents:	Fort House Inc. and Octagon
        Capital Corporation (the “Agents”)

	 	 
	Issue Price:	$4.00 per Flow-Through
        Share.

	 	 
	Agents’ Commission:	An amount equal to 5% of
        the gross proceeds of the Offering. In addition, the Company will grant
        to the Agents that number of compensation warrants (the “Compensation
        Warrants”) that is equal to 5% of the number of Flow-Through Shares
        sold. Each Compensation Warrant will be exercisable for one non-flow-through
        Common Share at a price of $3.60 for a period of 24 months following the
        Closing Date.

	 	 
	Agents’ Expenses:	The Corporation will be
        responsible for all expenses of the Offering, including the reasonable
        fees and expenses of the Agents including the reasonable fees and disbursements
        of the Agents’ legal counsel (up to a maximum of $40,000, exclusive
        of disbursements and GST).

	 	 
	Minimum Subscription	Minimum order in Quebec
        is $150,000; Subscribers in Alberta, British Columbia, Manitoba and Ontario
        will have no minimum subscription but must be “accredited investors”
        (as defined in Multilateral Instrument 45-103 Capital Raising Exemptions
        of the Alberta, British Columbia, Saskatchewan and Manitoba (among
        others) Securities Commissions and in Rule 45-501 of the Ontario Securities
        Commission).

2

	Use of Proceeds:	The Corporation shall use
        the gross proceeds of the Offering for exploration expenses on the Corporation’s
        properties which qualify as Canadian Exploration Expenses (as such term
        is defined in the Income Tax Act (Canada)). The Corporation shall
        incur 4/7ths of the gross proceeds of the Offering on expenditures which
        qualify as Flow-Through Mining Expenditures (as such term is defined in
        the Income Tax Act (Canada)). The Corporation shall incur such
        expenses prior to December 31, 2004 and shall renounce such expenses with
        an effective date of no later than December 31, 2003.

	 	 
	TSX Listing:	The Company shall list
        the Flow-Through Shares and the Common Shares issuable upon exercise of
        the Compensation Options on the Toronto Stock Exchange, which listing
        such be conditionally approved prior to the Closing Date.

	 	 
	Closing Date:	November 14, 2003, or such
        other date as is agreed upon by the Agents and the Corporation (the “Closing
        Date”).

	 	 
	Offering Jurisdictions:	Ontario and such other
        provinces of Canada as the Corporation and the Agents mutually agree (the
        “Offering Jurisdictions”).

	 	 
	Resale Restrictions:	The Flow-Through Shares
        will be issued pursuant to exemptions from prospectus requirements of
        applicable securities legislation and will be subject to resale restrictions
        under that legislation.

	 	 
	 	It is a condition of closing
        that the Corporation will be a “qualifying issuer” on the Closing
        Date under Multilateral Instrument 45-102 Resale of Securities.
        As a result, subscribers in the Offering Jurisdictions will be issued
        Flow-Through Shares subject to a four-month hold period from the Closing
        Date.

3

SCHEDULE “B” 

CERTIFICATE OF ACCREDITED INVESTOR 

 (Ontario, British Columbia, Alberta, Saskatchewan, Manitoba,
  

  Newfoundland and Labrador, Nova Scotia and Prince Edward Island)  

 The categories listed herein contain certain specifically
  defined terms. If you are unsure as to the meanings of those terms, or are unsure
  as to the applicability of any below category, please contact your broker or
  legal advisor before completing this form.

	TO: 	Kirkland Lake Gold Inc. (the “Corporation”) 
	 	 
	AND TO: 	Fort House Inc. and Octagon Capital Corporation (the “Agents”)
    

                       In
  connection with the purchase by the undersigned purchaser (the “Subscriber”)
  of flow-through shares (the “Flow-Through Shares”) of the Corporation,
  the Subscriber or the undersigned on behalf of the Subscriber, as the case may
  be, certifies that: 

 1.                     The
  Subscriber, or one or more beneficial purchasers for whom the Subscriber is
  acting, is (i) a resident of, or the purchase and sale of securities to the
  Subscriber is otherwise subject to the securities legislation of, Ontario and
  the Subscriber is (and will at the time of acceptance of the Subscription be)
  an accredited investor within the meaning of Ontario Securities Commission Rule
  45-501 – Exempt Distributions (“OSC Rule 45-501”)
  (an “Ontario Accredited Investor”) or (ii) a resident of, or
  the purchase and sale of securities to the Subscriber is otherwise subject to
  the securities legislation of, Alberta, British Columbia, Manitoba, Saskatchewan,
  Nova Scotia or Prince Edward Island, and the Subscriber is (and will at the
  time of acceptance of the Subscription be) an accredited investor within the
  meaning of Multilateral Instrument 45-103 – Capital Raising Exemptions
  (an “MI 45-103 Accredited Investor”) or (iii) a resident of,
  or the purchase and sale of securities to the Subscriber is otherwise subject
  to the securities legislation of Newfoundland and Labrador and the Subscriber
  is (and will at the time of acceptance of the Subscription be) an accredited
  investor within the meaning of Rule 45-501 Capital Raising Exemptions
  (a “Newfoundland Accredited Investor”). 

 2.                     The
  Subscriber is: 

(PLEASE CHECK THE BOX OF THE APPLICABLE CATEGORY)

	 ̈	(a)	an individual who, either alone or jointly
        with a spouse, beneficially owns, directly or indirectly, cash and securities
        and, in the case of Ontario Accredited Investors, contracts of insurance
        or deposit or evidence thereof that is not a security for the purposes
        of the Securities Act (Ontario) (collectively, “financial
        assets”) having an aggregate realizable value that, before taxes,
        but net of any liabilities incurred or assumed for the purpose of financing
        the acquisition or ownership of financial assets and liabilities that
        are secured by financial assets, exceeds $1,000,000;

	 	 	 
	 ̈	(b)	an individual whose net income before
        taxes exceeded $200,000 in each of the two most recent years or whose
        net income before taxes combined with that of a spouse exceeded $300,000
        in each of the two most recent years and who, in either case, reasonably
        expects to exceed that net income level in the current year;

	 	 	 
	 ̈	(c)	a company, corporation, limited partnership,
        limited liability partnership, trust or estate, other than a mutual fund
        or non-redeemable investment fund, that had net assets of at least $5,000,000
        as shown on its most recently prepared financial statements and, in respect
        of MI 45-103 Accredited Investors in British Columbia, an individual,
        partnership, party, fund, association and any other

4 

	 	 	organized group of persons
        that had net assets of at least $5,000,000;

	 	 	 
	 ̈	(d)	a person or company registered
        under the securities legislation, of a province of territory of Canada
        as an adviser or dealer, other than a limited market dealer under the
        Securities Act (Ontario) or the Securities Act (Newfoundland
        and Labrador);

	 	 	 
	 ̈	(e)	an individual registered
        or formerly registered under the securities legislation, of a province
        or territory of Canada as a representative of a person or company referred
        to in paragraph (d), whether or not the individual’s registration
        is still in effect;

	 	 	 
	 ̈	(f)	a bank listed in Schedule
        I or II of the Bank Act (Canada), a loan corporation or trust company
        or trust corporation registered under the Trust and Loan Companies Act
        (Canada) or under comparable legislation in any other province or territory
        of Canada or foreign jurisdiction, that, in each case, is authorized to
        carry on business in Canada or a province or territory thereof, or an
        authorized foreign bank listed in Schedule III of the Bank Act (Canada);

	 	 	 
	 ̈	(g)	the Business Development
        Bank of Canada incorporated under the Business Development Bank of Canada
        Act (Canada);

	 	 	 
	 ̈	(h)	a co-operative credit society,
        credit union central, federation of caisse populaires, credit union or
        league, or regional caisse populaire, or an association under the Cooperative
        Credit Associations Act (Canada), in each case, located in Canada and
        authorized to carry on business in Canada or province or territory thereof,
        or the Confédération des caisse populaire et d’Economie
        Desjardins du Québec or, in the case of British Columbia Accredited
        Investors and Alberta Accredited Investors, a treasury branch;

	 	 	 
	 ̈	(i)	except in respect of MI
        45-103 Accredited Investors, a company licensed and authorized to carry
        on business as an insurance company in any province or territory of Canada;

	 	 	 
	 ̈	(j)	a “subsidiary”
        (within the meaning of that expression as used in applicable securities
        laws) of any person or company referred to in paragraphs (f) to (i), if
        the person or company owns all of the voting securities of the subsidiary,
        (excluding, for MI 45-103 Accredited Investors and Newfoundland Accredited
        Investors, the voting securities required by law to be owned by directors
        of that subsidiary);

	 	 	 
	 ̈	(k)	the government of Canada
        or a province or territory, or any Crown corporation, agency or wholly
        owned entity of the government of Canada or a province or territory of
        Canada;

	 	 	 
	 ̈	(l)	a municipality in Canada
        and, in the case of MI 45-103 Accredited Investors and Newfoundland Accredited
        Investors, a public board or commission in Canada;

	 	 	 
	 ̈	(m)	any national, federal,
        state, provincial, territorial or municipal government of or in any country
        other than Canada (or a political subdivision thereof), or any agency
        of that government;

	 	 	 
	 ̈	(n)	a pension fund that is
        regulated by either the Office of the Superintendent of Financial Institutions
        (Canada) or a provincial pension commission or similar regulatory authority
        of a province or territory of Canada;

	 	 	 
	 ̈	(o)	a registered charity under
        the Income Tax Act (Canada) which, with respect to MI 45-103 Accredited
        Investors and Newfoundland Accredited Investors, has obtained advice from
        an adviser registered to provide advice on the securities being traded;

	 	 	 
	 ̈	(p)	a mutual fund or non-redeemable
        investment fund (within the meaning of those expressions as used in the
        securities laws the applicable province of territory of Canada) that,
        in the local province of territory, distributes its securities only to
        persons or companies that are accredited investors;

	 	 	 
	 ̈	(q)	a mutual fund or non-redeemable
        investment fund that, in the local province or territory distributes its
        securities under a prospectus for which the applicable securities regulator
        has issued or granted a receipt;

	 	 	 
	 ̈	(r)	an entity organized in
        a country other than Canada (or a political subdivision thereof) that
        is

 5 

	 	 	
	 analogous to any of the entities referred
        to in paragraphs (d), (f), (g), (h), (i), (j) or (n) in form and function;
        or

	 	 	
	

	 ̈	(s)	
	a person or company in respect of which
        all of the owners of interests, direct or indirect, legal or beneficial
        (excluding for MI 45-103 Accredited Investors and Newfoundland Accredited
        Investors, any voting securities required by law to be owned by directors),
        are persons or companies that are accredited investors;

	 	 	
	

	(t)	

      in the case of a MI 45-103 Accredited Investor or a Newfoundland Accredited
      Investor:
	 	 	
	

	 	 ̈	(i)       a
        trust company or trust corporation registered or authorized to carry on
        business under the Trust and Loan Companies Act (Canada) or under
        comparable legislation in a province or territory of Canada or a foreign
        jurisdiction, trading as a trustee or agent on behalf of a fully managed
        account;

	 	 	
	

	 	 ̈	(ii)     a
        person or company trading as agent on behalf of a fully managed account
        if that person or company is registered or authorized to carry on business
        under the securities legislation of the local province or territory of
        Canada or a foreign jurisdiction as a portfolio manager or the equivalent
        category of advisor or is exempt from such registration; or

	 	 	
	

	(u)	in the case of an Ontario
        Accredited Investor:

	 	 	
	

	 	 ̈	(i)      a
        promoter of the Partnership or an “affiliated entity” of a promoter
        of the Partnership (within the meaning of that expression as used in OSC
        Rule 45-501);

	 	 	
	

	 	 ̈	(ii)     a
        spouse, parent, grandparent or child of an officer, director or promoter
        of the Partnership;

	 	 	
	

	 	 ̈	(iii)    a
        person or company that, in relation to the Partnership is an affiliated
        entity or a person or company referred to in clause (c) of the definition
        of distribution in subsection 1(1) of the Securities Act (Ontario);

	 	 	
	

	 	 ̈	(iv)    a
        person or company that is recognized by the Ontario Securities Commission
        as an accredited investor; or

	 	 	
	

	 	 ̈	(v)     an
        account that is fully managed by a trust corporation registered under
        the Loan and Trust Corporations Act (Ontario).

	 	 	
	

	 	 ̈	(vi)    a
        managed account if it is acquiring a security that is not a security of
        a mutual fund or non-redeemable investment fund.

                        The
  foregoing representations contained in this certificate are true and accurate
  as of the date of this certificate and will be true and accurate as of the Closing
  Time. If any such representations shall not be true and accurate prior to the
  Closing Time, the undersigned shall give immediate written notice of such fact
  to the Corporation and the Agents. 

	    	Dated: _______________________________________________	    	Signed: _______________________________________________
	 	 	 	 
	 	 	 	 
	 	Witness (If Purchaser is an Individual)	 	Print the name of Purchaser
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	Print Name of Witness	 	If Purchaser is a Corporation,
	 	 	 	print name and title of
	 	 	 	Authorized Signing Officer

SCHEDULE “C” 

CERTIFICATE OF AN ELIGIBLE PURCHASER 

 The undersigned (the “Subscriber”) hereby
  represents, warrants and covenants to Kirkland Lake Gold Inc. (the “Corporation”)
  that the Subscriber is subscribing for the securities of the Corporation as
  principal (including, in the case of British Columbia purchasers, trust companies,
  insurers or portfolio managers deemed to be acting as principals under applicable
  British Columbia Securities Laws in respect of accounts fully managed by them)
  or as agent for a disclosed principal and is an eligible purchaser by virtue
  of satisfying one of the eligibility criteria set out below (Please check one
  or more, as applicable). 

Minimum Purchase Price Exemption: 

	 ̈	(a)               The
        aggregate acquisition cost (each of the below amounts being the “Minimum
        Purchase Price in the Province”) to the Subscriber, and if applicable
        to each beneficial person for whom it is acting, for the securities, 

	 	 	 	 
	 	 	(i) 	if subject to the securities laws in
        the province of Alberta, British Columbia, Manitoba, New Brunswick, Prince
        Edward Island, is not less than $97,000; and

	 	 	 	 
	 	 	(ii)
	if subject to the securities laws in
        the province of Saskatchewan, Quebec, Nova Scotia, is not less that $150,000,
        and

	 	 	 	 
	 	 	(iii)
	if subject to the securities laws in
        the province of Newfoundland and Labrador, is not less than $100,000,

	 	 	 	 
	 	 	and if the Subscriber

	 	 	 	 
	 	 	(A)
	is a corporation, it was not incorporated
        solely and has not been used primarily to permit the purchase of securities
        without a prospectus or, if incorporated or used primarily for such a
        purpose, each shareholder of the corporation is an individual who has
        contributed at least the Minimum Purchase Price in the Province to the
        corporation for the purpose of investment by the corporation in the securities
        and all such contributions have been invested in the securities by the
        corporation; or

	 	 	 	 
	 	 	(B)
	is not a corporation or an individual
        but is a syndicate, partnership, trust or other form of unincorporated
        organization, it has not been created solely or used primarily to permit
        the purchase of securities without a prospectus or, if the purchaser is
        a syndicate, partnership, trust or other form of unincorporated organization
        created or used primarily for such purpose, each member of the syndicate,
        partnership, trust or other form of unincorporated organization is an
        individual whose individual share of the aggregate acquisition cost for
        the securities is not less than the Minimum Purchase Price.

	 	 	 
	Portfolio Manager/Managed Account Exemption:
	 	 
	 ̈	(b)               If
        the Subscriber is acting as trustee, agent or adviser purchasing for fully
        managed accounts that are resident in or otherwise subject to the Securities
        Laws of the Province of:

	 	 	 	 
	 	 	(i)
	 Quebec, then the Subscriber is a trust
        company licensed under the Act respecting trust companies and savings
        companies (Quebec), an insurance company holding a license under the
        Act respecting insurance (Quebec) or a dealer or adviser registered
        in conformity with section 148 of the Securities Act (Québec)
        and is purchasing the securities for the portfolio of a third person managed
        solely by the Subscriber; or

	 	 	 	 
	 	 	(ii)
	British Columbia and box (a) above has
        been checked, then the Subscriber is a trust company authorized under
        the Financial Institutions Act (British Columbia) to carry on trust
        business, deposit business or both or an insurance company authorized
        to carry on

2

	 	 	 	insurance business under the Financial
        Institutions Act (British Columbia) purchasing as agent or trustee
        or a portfolio manager (an adviser who manages the investment portfolio
        of clients through discretionary authority granted by one or more clients)
        under the Securities Act (British Columbia) purchasing as an agent.

	 	 	 
	Exempt Purchaser Designation:
	 	 	 
	 ̈	(c)     The
        Subscriber, or in the case of an agent acting for a disclosed principal
        such disclosed principal, is not an individual and is designated as an
        exempt purchaser in an order made by the British Columbia Securities Commission,
        and if subject to the securities laws of a province other than British
        Columbia, such Subscriber, or in the case of an agent acting for a disclosed
        principal, is not an individual and is designated as an exempt or sophisticated
        purchaser by the applicable securities commission in the local jurisdiction
        of such Subscriber or such disclosed principal.

	 	 	 
	Friends and Family Exemption for British Columbia,
      Saskatchewan, Manitoba, Nova Scotia and Price Edward Island Purchasers:
	 	 	 
	 ̈	(d)     If
        the Subscriber, or any person for whom it is acting is a resident of or
        is otherwise subject to the Securities Laws in the province of British
        Columbia, Alberta, Saskatchewan, Manitoba, Nova Scotia and Prince Edward
        Island and is not an "accredited investor", the Subscriber is purchasing
        the securities as principal and is:

	 	 	 	 
	 	 	(i) 
	a director, senior officer, employee
        or control person of the Corporation, or of an affiliate of the Corporation
        and if the Subscriber is an employee of the Corporation and is subject
        to the securities laws of the Province of British Columbia, the Subscriber
        has not been induced to purchase by expectation of employment or continued
        employment, nor has the employee been directly or indirectly required
        by the Corporation to purchase the Flow-Through Shares;

	 	 	 	 
	 	 	(ii)
	a spouse, parent, grandparent, brother,
        sister or child of a director, senior officer or control person of the
        Corporation, or of an affiliate of the Corporation;

	 	 	 	 
	 	 	(iii)
	a parent, grandparent, brother, sister
        or child of a spouse of a director, senior officer or control person of
        the Corporation, or of an affiliate of the Corporation;

	 	 	 	 
	 	 	(iv)

      
	a close personal friend of a director,
        senior officer or control person of the Corporation, or of an affiliate
        of the Corporation;

	 	 	 	 
	 	 	(v)
	a close business associate of a director,
        senior officer or control person of the Corporation, or of an affiliate
        of the Corporation;

	 	 	 	 
	 	 	(vi)
	a founder of the Corporation or a spouse,
        parent, grandparent, brother, sister, child, close personal friend or
        close business associate of a founder of the Corporation;

	 	 	 	 
	 	 	(vii)
	a parent, grandparent, brother, sister
        or child of a spouse of a founder of the Corporation;

	 	 	 	 
	 	 	(viii) 
	except in the case of an employee, a
        person or company of which a majority of the voting securities are beneficially
        owned by, or a majority of the directors are, persons or companies described
        in paragraphs (i) to (vii); or

	 	 	 	 
	 	 	(ix)
	a trust or estate of which all of the
        beneficiaries or a majority of the trustees are persons or companies described
        in paragraphs (i) to (vii).

 3

	Other Eligible Purchaser
        Exemptions: 

	 	 	 
	 	 	 
	 ̈
	(e) 
	A bank or an authorized
        foreign bank listed in Schedule I, II or III to the Bank Act (Canada);
      

	 	 	 	 
	 	 	 	 
	 ̈
	(f) 
	The Business Development
        Bank of Canada continued under the Business Development Bank Act (Canada);
      

	 	 	 
	 	 	 
	 ̈
	(g) 
	A subsidiary of one of the
        entities referred to in paragraphs (e), or (f), above where the bank,
        or the Business Development Bank of Canada, as the case may be, beneficially
        owns all of the voting securities of that subsidiary (other than for a
        Subscriber in the Province of New Brunswick or Manitoba); 

	 	 	 
	 	 	 
	 ̈
	(h) 
	The Government of Canada
        or the government of any province or territory of Canada; 

	 	 	 
	 	 	 
	 ̈
	(i) 
	For a Subscriber resident
        in or otherwise subject to the Securities Laws in the Province of Quebec,
        a public agency or body established pursuant to an Act of the Government
        of Canada or of the government of a Canadian province; 

	 	 	 
	 	 	 
	 ̈
	(j) 
	If the Subscriber, or any
        person for whom it is acting is a resident of or is otherwise subject
        to the Securities Laws in the province of Quebec, a pension fund with
        assets of over $100,000,000 and governed by the Supplemental Pension
        Plans Act (Québec) or the Pension Benefits Standards Act,
        1985 (Canada); 

	 	 	 
	 	 	 
	 ̈
	(k) 
	If the Subscriber, or any
        person for whom it is acting is a resident of or is otherwise subject
        to the Securities Laws in the province of Quebec, a company all of the
        voting securities of which belong to the Gouvernement du Québec
        or its departments or agencies that are mandataries of the State, to the
        Government of Canada or the government of a Canadian province, or to one
        of their departments or agencies. 

The foregoing representations indicated in this certificate
  are true and accurate as of the date of this certificate and will be true and
  accurate as of the Closing Time. If any such representations shall not be true
  and accurate prior to the Closing Time, the undersigned shall give immediate
  written notice of such fact to the Corporation. 

	    	Dated: _______________________________________________	    	Signed: _______________________________________________
	 	 	 	 
	 	 	 	 
	 	Witness (If Purchaser is an Individual)	 	Print the name of Purchaser
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	Print Name of Witness	 	If Purchaser is a Corporation,
	 	 	 	print name and title of
	 	 	 	Authorized Signing Officer

SCHEDULE “D” 

 MANITOBA RESIDENTS 

 THE SECURITIES ACT (MANITOBA) 

  FORM 8 

  REPORT OF A TRADE MADE UNDER 

  CLAUSE 19(1)(c) OR SUBSECTION 19(3) 

  OF THE ACT OR UNDER SECTION 90 

  OF THE REGULATION  

 To be completed by each Subscriber who is resident in or is otherwise subject
  to the laws of the Province of Manitoba.

	1.	Full name and address of vendor: 

       Kirkland Lake Gold Inc. 

        Suite 300 

        570 Granville Street 

        Vancouver, BC 

        V6C 3P1 

	 	 
	2. 	Name and address of the issuer of the security traded: 

       Same as above. 

	 	 
	3. 	Details of Purchase: 

       Name and address of purchaser, amount or number of securities purchased,
        the price and the date: 

	Date of
 Purchase	Name	Address	Amount and
 Description of
 Securities	Purchase
 Price
	 	 	 	___________________
 Flow-Through Shares	$____________________

	4. 	Give name and address of any person acting as agent
        in connection with this trade, and the compensation paid to, or to be
        paid to, such agent: Fort House Inc. and Octagon Capital Corporation (collectively,
        the “Agents”) shall be paid a commission equal to 5% of the
        gross proceed of the offering. The Corporation will also grant to the
        Agents, non-assignable warrants (the “Broker Warrants”) equal
        to 5% of the number of Flow-Through Shares sold pursuant to the offering.
        Each Broker Warrant shall be exercisable by the Agents to acquire one
        non-flow-through Common Share of the Corporation at $4.00 for a period
        of 24 months following the closing date. 

2

 Certificate of Purchaser 

 The undersigned hereby certifies that the statements made
  in this report are true and that the purchase was made as principal for investment
  only and not with a view to resale or distribution and undertakes further that
  he will file with the Commission within 10 days of the resale of any of the
  securities purchased hereunder a report prepared in accordance with Form 8A.

	Dated at _________________________, Manitoba	 	 	 
	 	 	(Name of Subscriber - Please Print)
	this _____ day of _______________________, 2003	.	 	 
	 	 	 	 
	 	 	By:	 
	 	 	 	Signature
	 	 	 	 
	 	 	 	 
	 	 	(Official Capacity - Please Print)

Certificate of Vendor or Agents of Vendor

The undersigned hereby certifies that the statements made in this report are true.

	Dated at _____________, ________	 	Kirkland Lake Gold Inc.
	 	 	(Name of Vendor - Please Print)
	 	 	 	 
	this _____ day of _______________________, 2003	 	By:	 
	 	 	 	Signature
	 	 	 	 
	 	 	 
	 	 	(Official Capacity - Please Print)
	 	 	 	 
	Dated at _____________, ________	 	Fort House Inc. and Octagon Capital Corporation
	 	 	(Name of Agents for Vendor - Please Print)
	 	 	 	 
	this _____ day of _______________________, 2003	 	By:	 
	 	 	 	Signature
	 	 	 	 
	 	 	 
	 	 	(Official Capacity - Please Print)

Instructions: 

	1. 	The vendor or agent must file one signed copy, which
        may be signed by either the vendor or the agent. 

	 	 
	2. 	The “Certificate of Purchaser” must be
        signed by the purchaser before the form is filed, except in those cases
        where the purchaser’s signature is dispensed with by section 7(3)
        of the Regulation. 

	 	 
	3. 	A separate report must be filed for each purchaser
        and the filing fee must accompany each report. 

	 	 
	4. 	In answer to Question 4, give the name of the person
        or company who has been or will be paid remuneration directly related
        to the trade, such as commission, discounts or other fees or payments
        of a similar nature. It is not necessary to include payments for services
        incidental to the trade such as clerical, printing, legal or accounting
        services. 

	 	 
	5.	If the space provided for any answer is insufficient,
        additional sheets may be used and must be cross-referred to the relevant
        item and properly identified and signed by the persons whose signatures
        appear on the report. 

 SCHEDULE “E”  

 MULTILATERAL INSTRUMENT 45-103

  FORM 45-103F5 

  REPORT ACKNOWLEDGEMENT  

  SASKATCHEWAN CLOSE PERSONAL FRIENDS AND CLOSE BUSINESS  

  ASSOCIATES  

W A R N I N G 

 I acknowledge that this is a risky investment:

	• 	I am investing entirely at my own risk. 

	• 	No securities regulatory authority has evaluated
        or endorsed the merits of these securities. 

	• 	I will not be able to sell these securities except
        in very limited circumstances. 

	• 	I will not be able to sell these securities for 4
        months. 

	• 	I could lose all the money I invest. 

	• 	I do not have a 2-day right to cancel my purchase
        of these securities or the statutory rights of action for misrepresentation
        I would have if I were purchasing the securities under a prospectus. 

I am investing $___________________________________________
  [total consideration] in total; this includes any amount I am obliged to pay
  in future. 

 I am a close personal friend or close business
  associate of __________________________________________________[state name],
  who is a ______________________________________________________________[state
  title - founder, director, senior officer or control person]of _______________________________________________________[state
  name of issuer or its affiliate - if an affiliate state “an affiliate of
  the issuer” and give the issuer’s name]. 

 I acknowledge that I am purchasing based on my close relationship
  with _______________________________________________[state name of founder,
  director, senior officer or control person] whom I know well enough and for
  a sufficient period of time to be able to assess her/his capabilities and trustworthiness.

I acknowledge that this is a risky investment and that I could lose all the money I invest. 

	 	 	 
	Date Signature of Purchaser	 	Signature of Purchaser
	 	 	 
	 	 	 
	Print name of Purchaser	 	 

Sign 2 copies of this document. Keep one copy for your records.

SCHEDULE “F” 

ALL SUBSCRIBERS 

 THE TORONTO STOCK EXCHANGE  

  PRIVATE PLACEMENT QUESTIONNAIRE AND UNDERTAKING  

To be completed by each proposed private placement purchaser of listed securities or securities which are convertible into listed securities.

 QUESTIONNAIRE 

	1.	Description of Transaction

      
	 	 	 
	 	(a)	Name of Issuer of the Securities:
	 	 	 
	 	 	Kirkland Lake Gold Inc.
	 	 	 
	 	(b)	Number and Class of Securities to be Purchased:
	 	 	 
	 	 	flow-through shares. 
	 	 	 
	 	(c)	Purchase price:
	 	 	 
	 	 	$4.00 per flow-through share.
	 	 	 
	2.	Details of Purchaser
	 	 	 
	 	(a)	Name of Purchaser
	 	 	 
	 	 	 
	 	 	 
	 	(b)	Address:
	 	 	 
	 	 	 
	 	 	 
	 	(c)	Names and addresses of persons having a greater than 10%
      beneficial interest in the purchaser:
	 	 	 
	 	 	 
	 	 	 
	3. 	Relationship to Issuer
	 	 	 
	 	(a)	Is the purchaser (or any person named in response to 2(c)
      above) an insider of the issuer for the purposes of the Securities Act
      (Ontario) (before giving effect to this private placement)? If so, state
      the capacity in which the purchaser (or person named in response to 2(c)
      qualifies as an insider:
	 	 	 
	 	 	 
	 	 	 
	 	(b)	If the answer to (a) is "no", are the purchaser and the issuer
      controlled by the same person or company? If so, give details:
	 	 	 
	 	 	 

 2

	 	 	 
	 	 	 
	4. 	Dealings of Purchaser in Securities of
        the Issuer 

      Give details of all trading by the purchaser, as principal, in the securities
        of the issuer (other than debt securities which are not convertible into
        equity securities), directly or indirectly, within the 60 days preceding
        the date hereof: 

	 	 	 
	 	 
	 	 
	 	 

UNDERTAKING  

 TO:           The Toronto
  Stock Exchange 

 The undersigned has subscribed for and agreed to purchase,
  as principal, the securities described in Item 1 of this Private Placement Questionnaire
  and Undertaking. 

 The undersigned undertakes not to sell or otherwise dispose
  of any of the said securities so purchased or any securities derived therefrom
  for a period of four months from the date of the closing of the transaction
  herein or for such period as is prescribed by applicable securities legislation,
  whichever is longer, without the prior consent of The Toronto Stock Exchange
  and any other regulatory body having jurisdiction. 

 DATED at __________ this _____________ day of November, 2003. 

	    	 
	 	Name of Purchaser (please print)
	 	 
	 	 
	 	Authorized Signature
	 	 
	 	 
	 	Official Capacity (please print)
	 	 
	 	 
	 	(please print name of individual whose signature
        appears above, if different from name of purchaser printed above)

 3 

You are buying Exempt Market Securities 

 They are called exempt market securities because two
  parts of securities law do not apply to them. If an issuer wants to sell exempt
  market securities to you: 

 •                 the
  issuer does not have to give you a prospectus (a document that describes the
  investment in detail and gives you some legal protections); and 

 •                 the
  securities do not have to be sold by an investment dealer registered with a
  securities regulatory authority. 

 There are restrictions on your ability to resell exempt
  market securities. Exempt market securities are more risky than other
  securities. 

 You may not receive any written information about the issuer
  or its business  

  If you have any questions about the issuer or its business, ask for written
  clarification before you purchase the securities. You should consult your own
  professional advisers before investing in the securities. 

 For more information on the exempt market, refer to
  the Saskatchewan Financial Services Commission’s website at http://www.sfsc.gov.sk.ca

 Instruction: The purchaser must sign 2 copies of this form.
  The purchaser and the issuer must each receive a signed copy.Filed by Automated Filing Services Inc. (604) 609-0244 - Kirkland Lake Gold Inc. - Exhibit 4(a).19

 AGENCY AGREEMENT 

December 1, 2003

 Kirkland Lake Gold Inc.

  Suite 300, 570 Granville Street 

  Vancouver, British Columbia 

  V6C 3P1 

Dear Sirs:

 The undersigned, Fort House Inc., as lead agent, and Octagon
  Capital Corporation (collectively, the “Agents”), understand
  that Kirkland Lake Gold Inc. (the “Company”) proposes to issue
  and sell up to 2,000,000 units of the Company (individually an “Original
  Unit” and collectively the “Original Units”)
  at a price of $3.90 per Unit (the “Issue Price”). Each
  Unit shall consist of one Common Share (as hereinafter defined) (a “Unit
  Share”) in the capital of the Company and one-half of one Common Share
  purchase warrant (individually a “Warrant” and, collectively,
  the “Warrants”). Each whole Warrant will entitle the holder
  thereof to purchase one Common Share individually a “Warrant Share”
  and, collectively, the “Warrant Shares”) at a price of $4.40
  until 4:00 p.m. (Vancouver time) on the date that is 18 months following the
  Closing Date (as hereinafter defined). 

 Upon and subject to the terms and conditions set forth herein,
  the Agents hereby agree to act, and upon acceptance hereof, the Company hereby
  appoints the Agents, as the Company’s exclusive agents to offer for sale
  by way of private placement on a “best efforts” basis, up to 2,000,000
  Units at the Issue Price for aggregate gross proceeds to the Company of $7,800,000.

 In addition, subject to the terms hereof, the Company hereby
  grants to the Agents the option (the “Agents’ Option”),
  exercisable by the Agents in full or in part prior to the Closing Time (as hereinafter
  defined) to arrange for the purchase from the Company, up until the Closing
  Time, of up to an additional 200,000 units (the “Additional Units”
  and, together with the 2,000,000 Original Units, the “Units”)
  at the Issue Price, on a best efforts basis. 

 In consideration of the services to be rendered by the Agents
  in connection with the Offering, the Company shall pay to the Agents at Closing
  (as hereinafter defined) a cash commission equal to 5% of the gross proceeds
  realized by the Company in respect of the Offering other than gross proceeds
  from the sale of Units to Purchasers arranged by the Company and other securities
  dealers, for which Fort House Inc. shall receive a commission of 1% of such
  gross proceeds (collectively, the “Commission”) and for which
  the other securities dealers may receive a commission of up to 4% of such gross
  proceeds. The Commission payable to other securities dealers shall be paid by
  the Company. The obligation of the Company to pay the Commission to each of
  the Agents shall arise at the Closing Time (as hereinafter defined) and the
  Commission shall be fully earned by each of the Agents at that time. 

 The Agents may form and manage a group of Canadian investment
  dealers (the “Dealers”) to offer the Units for sale, provided
  that each of the Dealers is duly registered in accordance with 

 applicable securities laws and except as set out above, any
  fees paid or to be paid to the Dealers other than the Agents shall be for the
  account of and paid by the Agents. 

 DEFINITIONS 

 In this Agreement, in addition to the terms defined above,
  the following terms shall have the following meanings: 

 “AIF” means the Company’s Annual Information
  Form dated November 3, 2003 for the year ended April 30, 2003 and filed as its
  ‘current AIF’, as defined in and pursuant to Rule 45-102. 

 “Agreement” means the agreement resulting
  from the acceptance by the Company of the offer made hereby, on the terms and
  conditions outlined herein, as the same may from time to time be amended, restated,
  or supplemented. 

 “Business Day” means a day which is not a
  Saturday, Sunday or statutory or civic holiday in the City of Toronto, Canada.

 “Canadian Securities Laws” means all applicable
  securities laws in each of the Selling Jurisdictions and the respective rules
  and regulations made thereunder, together with applicable published fee schedules,
  prescribed forms, policy statements, notices, orders, blanket rulings and other
  regulatory instruments of and written interpretations of, and multilateral or
  national instruments adopted by, the Securities Regulators in such provinces,
  all as amended. 

 “Closing” means the closing on the Closing
  Date of the transaction of purchase and sale in respect of the Units as contemplated
  by this Agreement and the Subscription Agreements. 

 “Closing Date” means December 1, 2003 or
  such other date or dates as the Agents and the Company shall agree. 

 “Closing Time” means 12:00 noon (Toronto
  time) on the Closing Date or such other time on the Closing Date as the Company
  and the Agents may agree. 

 “Common Share” means a common share in the
  capital of the Company. 

 “Debt Instrument” means any loan, bond, debenture,
  promissory note or other instrument evidencing indebtedness (demand or otherwise)
  for borrowed money or other liability. 

 “Environmental Laws” shall have the meaning
  ascribed thereto in paragraph 4(a)(xxxiii). 

“Financial Statements” shall have the meaning
  ascribed thereto in paragraph 4(a)(v). 

“including” means including, without limitation.

“Information” shall have the meaning ascribed
  thereto in paragraph 4(a)(xxi). 

- 2 -

 “Kirkland Lake Properties” means, collectively,
  the Macassa, Wright-Hargreaves, Lake Shore, Teck-Hughes and Kirkland Lake Gold
  properties, as described in the AIF. 

 “Material Adverse Effect” has the meaning
  ascribed thereto in paragraph 4(a)(iv). 

 “Material Agreement” means any Debt Instrument,
  contract, commitment, agreement (written or oral), instrument, lease or other
  document to which the Company is a party and which is material to the Company.

 “misrepresentation”, “material fact”,
  “material change”, “subsidiary”, “affiliate”,
  “associate”, and “distribution” have the respective
  meanings ascribed thereto in the Canadian Securities Laws. 

 “Offering” means the offering of up to $8,580,000
  in Units pursuant to the Subscription Agreements and this Agreement. 

 “person” shall be broadly interpreted and
  shall include any individual, corporation, partnership, joint venture, association,
  trust or other legal entity. 

 “Purchasers” means the persons (which may
  include the Agents) who, as purchasers, acquire Units by duly completing, executing
  and delivering Subscription Agreements and any other required documentation,
  and permitted assignees or transferees of such persons from time to time. 

 “Rule 45-102” means Multilateral Instrument
  45-102 – Resale of Securities. 

 “Selling Jurisdictions” means such provinces
  in Canada and such jurisdictions outside of Canada, as are agreed to by the
  Company and the Agents. 

 “Securities Regulators” means the securities
  commissions or other securities regulatory authorities in the Selling Jurisdictions
  or the relevant Selling Jurisdiction, as the context so requires. 

 “Subscription Agreements” means those subscription
  agreements in the form agreed upon by the Agents and the Company pursuant to
  which Purchasers agree to subscribe for and purchase the Units herein contemplated,
  which agreements are accepted by the Company, in whole or in part, and shall
  include, for greater certainty, all schedules thereto. 

 “subsidiary” shall have the meaning ascribed
  thereto in the Canada Business Corporations Act. 

 “Taxes” shall have the meaning ascribed thereto
  in paragraph 4(a)(vii). 

 “Transfer Agent” means Pacific Corporate
  Trust Company at its principal offices in the city of Vancouver, British Columbia
  or such other transfer agent duly appointed by the Company from time to time.

 “TSX” means the Toronto Stock Exchange. 

- 3 -

 “to the best of the knowledge of the Company”
  means to the best of the knowledge of any of the Chief Executive Officer or
  Chief Financial Officer of the Company after due inquiry. 

 “U.S. Securities Act” means the United States
  Securities Act of 1933, as amended. 

TERMS AND CONDITIONS 

 1.           (a)          
  Sale on Exempt Basis. The Company understands that the Agents shall offer
  the 

 Units for sale, on a “private placement” basis,
  on behalf of the Company to Purchasers resident in the Selling Jurisdictions,
  provided the sale of the Units to such Purchasers is exempt from any prospectus,
  offering memorandum or registration statement filing or delivery requirements
  of applicable securities laws, and is otherwise in compliance with all applicable
  Canadian Securities Laws and all applicable securities laws of other Selling
  Jurisdictions. 

 (b)          
  Filings. The Company undertakes to file, or cause to be filed,
  all forms or undertakings required to be filed by the Company in connection
  with the issue and sale of the Units so that the distribution of the Units may
  lawfully occur without the necessity of filing a prospectus, a registration
  statement or an offering memorandum in Canada, (but on terms that will permit
  the Units acquired by the Purchasers in the Selling Jurisdictions to be sold
  by such Purchasers at any time in the Selling Jurisdictions subject to, and
  in compliance with, applicable Canadian Securities Laws and paragraph 2 of this
  Agreement), and each of the Agents undertakes to use its commercially reasonable
  best efforts to cause Purchasers of Units to complete any forms required by
  Canadian Securities Laws or under applicable securities laws, and the TSX. All
  fees payable in connection with such filings shall be at the expense of the
  Company. 

 (c)          
  No Offering Memorandum. Neither the Company nor the Agents shall (i)
  provide to prospective Purchasers any document or other material that would
  constitute an offering memorandum or future oriented financial information within
  the meaning of Canadian Securities Laws; or (ii) engage in any form of general
  solicitation or general advertising in connection with the offer and sale of
  the Units, including causing the sale of the Units to be advertised in any newspaper,
  magazine, printed public media, printed media or similar medium of general and
  regular paid circulation, broadcast over radio, television or telecommunications,
  including electronic display, or conduct any seminar or meeting relating to
  the offer and sale of the Units whose attendees have been invited by general
  solicitation or advertising. 

 2.           Covenants.
  The Company hereby covenants to and with each of the Agents and the Purchasers,
  and their permitted assigns, and acknowledges that each of them is relying on
  such covenants in connection with the offering for sale and purchase of the
  Units, as applicable, that the Company shall: 

	 	(i)	for a period of 18 months after the Closing Date,
        remain a reporting issuer under Canadian Securities Laws in British Columbia,
        Alberta andOntario not in default of any requirement of such Canadian
        Securities Laws;

- 4 -

 

	 	(ii)	allow the Agents and their respective
        representatives the opportunity to conduct all due diligence which the
        Agents may reasonably require to be conducted prior to the Closing Date;

	 	 	 
	 	(iii)	duly execute and deliver the Subscription
        Agreements at the Closing Time, and comply with and satisfy all terms,
        conditions and covenants therein contained to be complied with or satisfied
        by the Company;

	 	 	 
	 	(iv)	use its reasonable best efforts to fulfil
        or cause to be fulfilled, at or prior to the Closing Date, each of the
        conditions set out in paragraph 6;

	 	 	 
	 	(v)	ensure that the Unit Shares shall, upon
        issuance in accordance with their terms, be duly issued as fully paid
        and non-assessable securities in the capital of the Company, and shall
        have the attributes corresponding in all material respects to the description
        thereof set forth in this Agreement and the Subscription Agreements;

	 	 	 
	 	(vi)	ensure that upon issuance in accordance
        with the terms thereof, the Warrants shall be duly and validly created,
        authorized and issued and shall have the attributes corresponding in all
        material respects to the description thereof set forth in this Agreement
        and the Warrant certificate;

	 	 	 
	 	(vii)	ensure that at all times prior to the
        expiry of the Warrants, sufficient Warrant Shares are allotted and reserved
        for issuance upon the due and proper exercise of the Warrants and, upon
        issuance in accordance with the terms thereof, shall be issued as fully
        paid and non-assessable securities in the capital of the Company;

	 	 	 
	 	(vii)	use its reasonable commercial efforts
        to ensure that the Unit Shares and the Warrant Shares are listed and posted
        on the TSX if and when such securities are issued;

	 	 	 
	 	(ix)	use its commercially reasonable best
        efforts (including, without limitation, making application to the Securities
        Regulators for all consents, orders and approvals necessary) to qualify
        the distribution of the Units in the Selling Jurisdictions, to ensure
        that the Unit Shares, Warrants and Warrant Shares will not be subject
        to any statutory restricted period (subject to any control person distribution
        restriction) by the holders thereof four months following the Closing
        Date pursuant to Rule 45-102 or applicable securities laws in the Province
        of Quebec, as applicable;

	 	 	 
	 	(x)	use the net proceeds of the Offering
        to carry out further development of its Kirkland Lake mining operations,
        in particular, the recently announced programs developing the regions
        from Shaft No. 3 to the south of the Main Break, and for general working
        capital purposes;

	 	 	 
	 	(xi)	for a period of 163 days from the Closing
        Date, not issue or announce the issuance of any additional equity securities
        or securities convertible into equity securities

- 5 -

	 	 	of the Company without the prior written consent
        of the Agents, which consent shall not be unreasonably withheld, except
        in conjunction with: (i) this Agreement, (ii) the grant or exercise of
        stock options to or by employees, officers or directors of, or consultants
        to, the Company and other similar issuances pursuant to the policies of
        the TSX and other existing share compensation arrangements of the Company
        as of the date of this Agreement, and (iii) warrants, options, convertible
        loans and other similar securities outstanding as of the date of this
        Agreement; and 

	 	 	 
	 	(xii)	maintain the due appointment of the Transfer Agent.
      

3.           (a)          
  Material Changes During Distribution. During the period from the date
  hereof to the completion of the Closing, the Company shall: 

	 	(i)	promptly notify the Agents (and, if
        requested by the Agents, confirm such notification in writing) of any
        material change (actual, anticipated, contemplated or threatened, financial
        or otherwise) in the business, affairs, operations, assets, liabilities
        (contingent or otherwise) or capital of the Company; and

	 	 	 
	 	(ii)	promptly, and in any event, within any
        applicable time limitation, comply with all applicable filing and other
        requirements under Canadian Securities Laws as a result of such change.
        The Company shall in good faith discuss with the Agents any fact or change
        in circumstances (actual, anticipated, contemplated or threatened, and
        financial or otherwise) which is of such a nature that there is reasonable
        doubt as to whether notice in writing need be given to the Agents pursuant
        to this paragraph 3(a).

 (b)          
  Press Releases. During the period from the date hereof to the completion
  of the Closing, subject to applicable law, the Company shall obtain prior approval
  of the Agents as to the content and form of any press release, such approval
  not to be unreasonably withheld or delayed. In addition, any press release announcing
  or otherwise referring to this Offering shall include an appropriate legend
  on each page as follows: “Not for distribution to U.S. news wire services
  or dissemination in the United States.” 

4.           (a)          
  Representations and Warranties of the Company. The Company represents
  and warrants to each of the Agents and to the Purchasers, and acknowledges that
  each of them is relying upon such representations and warranties in purchasing,
  or offering for purchase on behalf of the Company, Units, that:

	 	(i)	the Company has been duly continued and is validly
        existing under the laws of its jurisdiction of continuance, has all requisite
        corporate power and authority and is duly qualified to carry on its business
        as now conducted and to own its properties and assets and the Company
        has all requisite corporate power and authority to carry out its obligations
        under this Agreement and the Subscription Agreements; 

	 	 	 
	 	(ii) 	the Company has no subsidiaries; 

- 6 - 

	 	(iii) 	all consents, approvals, permits, authorizations
        or filings as may be required under Canadian Securities Laws necessary
        for the execution and delivery of this Agreement and the Subscription
        Agreements and the issuance of the Unit Shares, Warrants and Warrant Shares
        and the consummation of the transaction contemplated hereby, have been
        made or obtained, as applicable; 

	 	 	 
	 	(iv) 	each of the execution and delivery of this Agreement
        and the Subscription Agreements, the performance by the Company of its
        obligations hereunder or thereunder, the issue and sale of the Unit Shares,
        Warrants and Warrant Shares and the consummation of the transactions contemplated
        in this Agreement, do not and will not conflict with or result in a breach
        or violation of any of the terms or provisions of, or constitute a default
        under, (whether after notice or lapse of time or both), (A) any statute,
        rule or regulation applicable to the Company including Canadian Securities
        Laws; (B) the constating documents, by-laws or resolutions of the Company
        which are in effect at the date hereof and at the Closing Time; (C) any
        Debt Instrument, Material Agreement, mortgage, note, indenture, contract,
        agreement, instrument, lease or other document to which the Company is
        a party or by which it is bound that would have a material adverse change
        in the operations, business or condition (financial or otherwise) of the
        Company, (a “Material Adverse Effect”); or (D)
        any judgment, decree or order binding the Company or the property or assets
        of the Company; 

	 	 	 
	 	(v) 	the audited consolidated financial statements of
        the Company as at and for the year ended April 30, 2003 and unaudited
        interim consolidated financial statements as at and for the three month
        period ended July 31, 2003 (collectively, the “Financial Statements”)
        have been prepared in accordance with generally accepted accounting principles
        in Canada consistently applied throughout the period referred to therein
        and present fairly, in all material respects, the financial position (including
        the assets and liabilities, whether absolute, contingent or otherwise)
        of the Company (on a consolidated basis) as at such dates and results
        of operations of the Company (on a consolidated basis) for the periods
        then ended and there has been no change in accounting policies or practices
        of the Company since April 30, 2003; 

	 	 	 
	 	(vi) 	there has been no adverse change to the Company (actual,
        proposed or prospective, whether financial or otherwise) in the business,
        affairs, operations, assets, liabilities (contingent or otherwise) or
        capital of the Company since April 30, 2003, which has not been generally
        disclosed to the public and the business of the Company has been carried
        on in the usual and ordinary course consistent with past practice since
        April 30, 2003 to the extent that such past practice is consistent
        with the current business direction of the Company; 

	 	 	 
	 	(vii) 	all taxes (including income tax, capital tax, payroll
        taxes, employer health tax, workers’ compensation payments, property
        taxes, custom and land transfer taxes), duties, royalties, levies, imposts,
        assessments, deductions, charges or 

- 7 - 

	 	 	withholdings and all liabilities with respect thereto
        including any penalty and interest payable with respect thereto (collectively,
        “Taxes”) due and payable by the Company have been paid
        except for where the failure to pay such taxes would not have a Material
        Adverse Effect. All tax returns, declarations, remittances and filings
        required to be filed by the Company have been filed with all appropriate
        governmental authorities and all such returns, declarations, remittances
        and filings are complete and accurate and no fact or facts have been omitted
        therefrom which would make any of them misleading except where the failure
        to file such documents would not constitute an adverse fact of the Company
        or result in an adverse change to the Company. No examination of any tax
        return of the Company is, to the best of its knowledge, currently in progress
        and there are no issues or disputes outstanding with any governmental
        authority respecting any taxes that have been paid, or may be payable,
        by the Company, in any case, except where such examinations, issues or
        disputes would not constitute an adverse fact of the Company or result
        in an adverse change to the Company; 

	 	 	 
	 	(viii)	the auditors of the Company who audited the consolidated
        financial statements of the Company for the year ended April 30, 2003
        and who provided their audit report thereon are independent public accountants
        as required under applicable Canadian Securities Laws; 

	 	 	 
	 	(ix) 	there has never been a reportable disagreement (within
        the meaning of National Policy No. 31) with the present or former auditors
        of the Company; 

	 	 	 
	 	(x) 	as at and immediately prior to the Closing Time,
        except as set forth in Schedule “A” to this Agreement, no holder
        of outstanding securities of the Company (debt or equity) will be entitled
        to any pre-emptive or any similar rights to subscribe for any of the Common
        Shares or other securities of the Company and no rights, warrants or options
        to acquire, or instruments convertible into or exchangeable for, any shares
        in the capital of the Company (debt or equity) are outstanding; 

	 	 	 
	 	(xi)	there is not, in the constating documents, articles
        or in any Debt Instrument, Material Agreement, agreement, mortgage, note,
        debenture, indenture or other instrument or document to which the Company
        is a party, any restriction upon or impediment to, the declaration or
        payment of dividends by the directors of the Company or the payment of
        dividends by the Company to the holders of its Common Shares; 

	 	 	 
	 	(xii) 	there are not any current or, to the Company’s
        knowledge, pending actions, suits, legal or governmental proceedings or
        inquiries to which the Company or any of its directors or officers is
        a party or to which its property is subject that would individually or
        in the aggregate result in Material Adverse Effect to the Company and
        to the best knowledge of the Company, no such actions, suits, proceedings
        or inquiries have been threatened against or are contemplated with respect
        to the Company, or any of its directors or officers, or its properties;
      

- 8 - 

 

	 	(xiii)	the Company has conducted and is conducting, to the
        best of its knowledge, its business in compliance with all applicable
        laws and regulations of each jurisdiction in which it carries on business
        (including all applicable Canadian federal, provincial, municipal and
        local environmental anti-pollution and licensing laws, regulations and
        other lawful requirements of any governmental or regulatory body, including
        relevant exploration and exploitation permits and concessions) and the
        Company has not received a notice of non-compliance, or has no knowledge
        of, or has no reasonable grounds to have knowledge of, any facts that
        could give rise to a notice of non-compliance with any such laws, regulations
        or permits which would have a material adverse effect on the Company;
      

	 	 	 
	 	(xiv)	the Company is not aware of any pending change or
        contemplated change to any applicable law or regulation or governmental
        position that would materially affect the business of the Company or the
        business or legal environment under which the Company operates; 

	 	 	 
	 	(xv)	this Agreement has been duly authorized, executed
        and delivered by the Company and constitutes a valid and binding obligation
        of the Company enforceable against the Company in accordance with its
        terms, except as enforcement thereof may be limited by bankruptcy, insolvency,
        reorganization, moratorium and other laws relating to or affecting the
        rights of creditors generally and except as limited by the application
        of equitable principles when equitable remedies are sought, and by the
        fact that rights to indemnity, contribution and waiver, and the ability
        to sever unenforceable terms, may be limited by applicable law; 

	 	 	 
	 	(xvi) 	upon the execution and delivery thereof, each of
        the Subscription Agreements shall constitute a valid and binding obligation
        of the Company and each shall be enforceable against the Company in accordance
        with its terms, except as enforcement thereof may be limited by bankruptcy,
        insolvency, reorganization, moratorium and other laws relating to or affecting
        the rights of creditors generally and except as limited by the application
        of equitable principles when equitable remedies are sought, and by the
        fact that rights to indemnity, contribution and waiver, and the ability
        to sever unenforceable terms, may be limited by applicable law; 

	 	 	 
	 	(xvii) 	at the Closing Time, all necessary corporate action
        will have been taken by the Company to: (A) validly issue and allot the
        Unit Shares as fully paid and non-assessable securities in the capital
        of the Company; (B) validly create, authorize, issue and allot the Warrants;
        and (C) allot, reserve and authorize the issuance of Warrant Shares, as
        fully paid and non-assessable securities in the capital of the Company,
        upon the due exercise of the Warrants; 

	 	 	 
	 	(xviii) 	immediately prior to the Closing Time, the authorized
        capital of the Company consists of an unlimited number of Common Shares
        of which 30,808,714 Common Shares are issued and outstanding as fully
        paid and non-assessable; 

- 9 - 

 

	 	(xix) 	the Company is a reporting issuer, or the equivalent
        thereof, in the provinces of Ontario, British Columbia and Alberta. The
        Company is not currently in default of any requirement of the Canadian
        Securities Laws of such jurisdictions and the Company is not included
        on a list of defaulting reporting issuers maintained by any of the Securities
        Regulators;

	 	 	 
	 	(xx) 	the currently issued and outstanding Common Shares
        are listed and posted for trading solely on the TSX and no order ceasing
        or suspending trading in any securities of the Company or the trading
        of any of the Company’s issued securities is currently outstanding
        and no proceedings for such purpose are, to the knowledge of the company,
        pending or threatened;

	 	 	 
	 	(xxi)	all information which has been prepared by the Company
        relating to the Company and its business, property and liabilities and
        either publicly disclosed or provided to the Agents, including all financial,
        marketing, sales and operational information (collectively, the “Information”)
        provided to the Agents is, as of the date of such Information, true and
        correct in all material respects, and no fact or facts have been omitted
        therefrom which would make such Information misleading and the Company
        has not been notified by any regulator applicable to it, or to its business
        and properties, that any of its publicly disclosed Information is not
        acceptable to such regulator that has not been since updated or corrected
        to the satisfaction of such regulator and publicly disseminated;

	 	 	 
	 	(xxii) 	all disclosure filings and fees required to be made
        and paid by the Company pursuant to the Canadian Securities Laws have
        been made and paid and such disclosure and filings were true and accurate
        as at the respective dates thereof, and the Company, has not omitted to
        disclose changes to any such Information such that the Information previously
        disclosed would as a result thereof now constitute a misrepresentation,
        and has not filed any confidential material change reports;

	 	 	 
	 	(xxiii) 	the Company is, to the best of its knowledge, in
        compliance with all laws respecting employment and employment practices,
        terms and conditions of employment, pay equity and wages, except where
        such non-compliance would not constitute a material adverse fact of the
        Company or result in a material adverse change to the Company, and has
        not and is not engaged in any unfair labour practice;

	 	 	 
	 	(xxiv) 	the Company does not have any loans or other indebtedness
        outstanding which has been made to any of its shareholders, officers,
        directors or employees, past or present, or any person not dealing at
        arm’s length with the Company;

	 	 	 
	 	(xxv) 	the assets of the Company and its business and operations
        are insured against loss or damage with responsible insurers on a basis
        consistent with insurance obtained by reasonably prudent participants
        in comparable businesses, and such coverage is in full force and effect,
        and the Company has not failed to promptly give any notice or present
        any material claim thereunder;

 - 10 - 

 

	 	(xxvi)	the Transfer Agent, at its principal office in the
        city of Vancouver, British Columbia has been duly appointed as transfer
        agent and registrar in respect of the Common Shares;

	 	 	 
	 	(xxvii) 	other than the Agents, there are no persons acting
        or purporting to act at the request or on behalf of the Company, that
        are entitled to any brokerage or finder’s fee in connection with
        the transactions contemplated by this Agreement;

	 	 	 
	 	(xxviii) 	neither the Company, nor, to the knowledge of the
        Company, any other person, is in material default in the observance or
        performance of any term or obligation to be performed by it under any
        Material Agreement and no event has occurred which with notice or lapse
        of time or both would constitute such a default;

	 	 	 
	 	(xxix) 	the minute books and records of the Company which
        the Company has made available to the Agents and its counsel, Cassels
        Brock & Blackwell LLP, in connection with their due diligence investigation
        of the Company for the periods from their respective dates to the date
        of examination thereof, are all of the minute books and substantially
        all the material records of the Company and contain copies of all material
        proceedings (or certified copies thereof) of the shareholders, the boards
        of directors and all committees of the boards of directors of the Company
        to the date of review of such corporate records and minute books. There
        have been no other material meetings, resolutions or proceedings of the
        shareholders, boards of directors or any committees of the boards of directors
        of the Company to the date of review of such corporate records and minute
        books not reflected in such minute books and other records;

	 	 	 
	 	(xxx) 	the Company holds either freehold title, mining leases,
        mining claims or other conventional property, proprietary or contractual
        interests or rights, recognized in the jurisdiction in which the Kirkland
        Lake Properties are located in respect of the ore bodies and minerals
        located in such properties in which the Company has an interest as described
        in the Information under, to the best of its knowledge, valid, subsisting
        and enforceable title documents or other recognized and enforceable agreements
        or instruments, which are currently sufficient to permit the Company to
        explore the minerals relating thereto, all such property, leases or claims
        and all property, leases or claims in which the Company has any interest
        or right have been to the best of its knowledge, validly located and recorded
        in accordance with all applicable laws and are valid and subsisting, the
        Company currently has all necessary surface rights, access rights and
        other necessary rights and interest relating to the properties in which
        the Company has an interest as described in the Information granting the
        Company the right and ability to explore for minerals, ore and metals
        for development purposes as are appropriate in view of the rights and
        interests therein of the Company, with only such exceptions as do not
        materially interfere with the use made by the Company of the rights or
        interests so held and each of the proprietary interests or rights and
        each of the documents, agreements and instruments and obligations relating
        thereto referred to above are currently in good standing in the name of
        the Company;

 - 11 - 

 

	 	(xxxi)	to the best of the knowledge of the Company, the
        Company has full and proper title, free and clear of all defects of title
        and liens, to the mineral licences, concessions and properties in connection
        with all of its properties and/or projects, including, the Kirkland Lake
        Properties and no other property rights are necessary for the conduct
        of the business of the Company as currently conducted or currently contemplated
        to be conducted for the next two years, the Company knows of no claim
        or basis for any claim that might or could adversely affect the right
        thereof to use, transfer or otherwise exploit such property rights, except
        as disclosed in the Information, the Company has no responsibility or
        obligation to pay any commission, royalty, licence fee or similar payment
        to any person with respect to the property rights thereof; 

	 	 	 
	 	(xxxii) 	to the best of the Company’s knowledge, all
        mining operations on the properties of the Company have been conducted
        in all respects in accordance with good mining and engineering practices
        and all applicable worker’s compensation and health and safety and
        workplace laws, regulations and policies have been duly complied with,
        except where the failure to conduct operations in such a manner would
        not have a Material Adverse Effect on the Company; 

	 	 	 
	 	(xxxiii) 	the Company is, to the best of its knowledge, in
        compliance in all material respects with each license and permit held
        by it and is not in violation of, or in default under, the applicable
        statutes, ordinances, rules, regulations, orders or decrees (including
        “Environmental Laws" as defined below) of any governmental entities,
        regulatory agencies or bodies having asserting or claiming jurisdiction
        over it or over any part of its operations or assets;

	 	 	 
	 	(xxxiv)	the Company (A) is, to the best of its knowledge,
        in material compliance with any and all applicable foreign, federal, provincial,
        state and local laws, by-laws and regulations relating to the protection
        of human health and safety, the environment or hazardous or toxic substances
        or wastes, pollutants or contaminants (“Environmental Laws”),
        (B) has to the best of its knowledge, received all permits, licenses consents,
        certificates, registrations and other authorizations under applicable
        Environmental Laws (the “Environmental Permits”)
        necessary for the operation of its projects and properties at the present
        time and each Environmental Permit is valid, subsisting and in good standing
        and the holder of the Environmental Permits is not in default or breach
        of the terms thereof and no proceeding is pending or threatened to revoke
        or limit any Environmental Permit other than any breach or default which
        would not either individually or in the aggregate have a Material Adverse
        Effect on the Company; (C) is, to the best of its knowledge, in material
        compliance with all terms and conditions of any such permit, license or
        approval, (D) confirms that there have been no past, and, to the best
        of its knowledge, there are no pending or threatened claims, complaints,
        notices or requests for information received by the Company with respect
        to any alleged violation of any Environmental Laws; (E) confirms that,
        to the best of its knowledge, no conditions exist at, on or under any
        property now or previously owned, operated or leased by the Company which,
        with the passage of time, or the giving of notice or both, would give
        rise to liability under any Environmental 

- 12 - 

 

	 	 	Laws that, individually or in the aggregate, has
        or may reasonably be expected to have, a Material Adverse Effect on the
        Company or its business; (F) to the best of its knowledge, has not used,
        except in material compliance with all Environmental Laws or except to
        the extent that the consequences would not have a Material Adverse Effect
        on the Company, any property or facility which it owns or leases or previously
        owned or leased, to generate, manufacture, process, distribute, use, treat,
        store, dispose of, transport or handle any pollutants, contaminants, chemicals
        or industrial, toxic or hazardous wastes or substances ; and (G) except
        for the Ministry of Environment Provincial Officer’s Order dated
        August 8, 2003, there are no orders or directions relating to environmental
        matters requiring any material work, repairs, construction or capital
        expenditures to be made with respect to any of the assets of the Company,
        nor has the Company received notice of any of the same; 

	 	 	 
	 	(xxxv) 	except as ordinarily or customarily required by applicable
        permits, the Company has not received any notice that it is potentially
        responsible for any domestic or foreign federal, state, provincial, municipal,
        or local clean-up site or corrective action under any Environmental Laws
        that will subject the Company to material expense except for notices of
        incidents for which legal counsel to the Company is of the opinion that
        the Company will not incur any material liability. To the best of the
        Company’s knowledge, the Company has not received any request for
        information in connection with any domestic or foreign federal, state,
        provincial, municipal or local inquiries as to disposal sites; 

	 	 	 
	 	(xxxvi)	to the best of the Company’s knowledge, there
        are no environmental audits, evaluations, assessments, studies or tests
        relating to the Company except for ongoing assessments conducted in the
        ordinary course of business; 

	 	 	 
	 	(xxxvii)	as required pursuant to Rule 45-102, the AIF is a
        “current AIF” as defined pursuant to Rule 45-102 in the proper
        form as required pursuant to Rule 45-102, which has been filed in at least
        one of the jurisdictions listed in Appendix B of Rule 45-102 and contains
        audited financial statements for the Company’s most recently completed
        financial year; 

	 	 	 
	 	(xxxviii) 	the Company has not made any loans to, or guaranteed
        the obligations of, any person; 

	 	 	 
	 	(xxxix) 	the Company is not aware of any agreements, arrangements
        or understandings among or between any shareholders of the Company with
        respect to the Company or the voting or disposition of Common Shares;
      

	 	 	 
	 	(xxxx) 	the Company has not, directly or indirectly, declared
        or paid any dividend or declared or made any other distributions in respect
        of its Common Shares or redeemed, purchased or otherwise acquired any
        of its Common Shares or agreed to any of the foregoing; 

- 13 - 

 

	 	(xxxxi)	no person has any right, agreement or option, present
        or future, contingent or absolute, or any right capable of becoming a
        right, agreement or option, for the purchase or acquisition from the Company
        of any of its undertaking, property or assets; 

	 	 	 
	 	(xxxxii)	the Company has not committed an act of bankruptcy
        nor is it insolvent, proposed a compromise or arrangement to its creditors
        generally, had a petition for a receiving order in bankruptcy filed against
        it, made a voluntary assignment in bankruptcy, taken any proceedings with
        respect to a compromise or arrangement, taken any proceedings to have
        itself declared bankrupt, wound-up or dissolved, taken any proceedings
        to have a receiver appointed to any of its property or had any execution
        or distress become enforceable or become levied upon any of its properties;
      

	 	 	 
	 	(xxxxiii)	the form of certificate representing the Common Shares
        is in proper form under the laws of the jurisdiction of the Company and
        does not conflict with the Company’s constating documents and articles;
      

	 	 	 
	 	(xxxxiv) 	the Company is the legal and beneficial owner of,
        has good and marketable title to, and possesses all of the assets material
        to its business free and clear of any encumbrances (other than leased
        equipment used in the ordinary course of business); 

	 	 	 
	 	(xxxxv)	the Company’s equipment is adequate and sufficient
        for the conduct of the business of the Company as presently conducted;
      

	 	 	 
	 	(xxxxvi)	to the best of the knowledge of the Company, none
        of the directors, officers or principal shareholders of the Company (or
        such shareholders’ respective principals) is or has ever been, except
        as set out in the AIF, subject to any regulatory or criminal investigation
        or proceeding or bankruptcy proceeding, in Canada or elsewhere; 

	 	 	 
	 	(xxxxvii)	none of the principal shareholders, directors, officers,
        partners, employees of, or consultants to, the Company, or any associate
        or affiliate of any of the foregoing, had or has any material interest,
        direct or indirect, in any transaction or any proposed transaction with
        the Company except as publicly disclosed; 

	 	 	 
	 	(xxxxviii)	(A) the Company does not own any real property (“Real
        Property”) other than, and the only premises which the Company
        occupies as tenant or otherwise (the “Material Leased Premises”)
        are those, as listed in Schedule “B” attached to this Agreement,
        which is hereby incorporated by reference. The Company occupies the Real
        Property and the Material Leased Premises and, to the best of the Company’s
        knowledge, it has the exclusive right to occupy and use the Real Property
        and Material Leased Premises, and each of the leases pursuant to which
        the Material Leased Premises are occupied is in good standing and in full
        force and effect and the Company is not in default of any covenants, conditions
        or 

- 14 - 

 

	 	 	obligations contained therein and all taxes required
        to be paid with respect thereto have been paid; (B) the Company has not
        entered into any sublease, license or other agreement granting to any
        person any right to the possession, use, occupancy or enjoyment of the
        Real Property and the Material Leased Premises or any portion thereof
        other than as indicated in Schedule “B”; (C) the Real Property
        and the Material Leased Premises are, to the best of the Company’s
        knowledge, in compliance with the requirements of all insurance companies
        who have policies covering the Real Property and the Material Leased Premises;
        and (D) all permits, approvals and authorizations from all insurance companies
        and fire rating organizations required to have been issued to the Company
        to enable the Real Property and the Material Leased Premises to be lawfully
        occupied and used by the Company are in full force and effect; 

	 	 	 
	 	(xxxxix)	the computer systems owned or leased by the Company,
        including hardware and software, are, to the best of the Company’s
        knowledge, free from viruses and similar disabling devices and the Company
        has taken all necessary steps to ensure that such systems are free from
        viruses and similar disabling devices that may be used to access, modify,
        delete, damage or disable such systems; 

	 	 	 
	 	(xxxxx)	the Company has no reason to believe and there is
        no indication that the Company’s business relationship with its principal
        customers, suppliers and project and/or joint venture partners and/or
        participants will terminate in the next 18 months; 

	 	 	 
	 	(xxxxxi)	the Company is not a party to or bound by any agreement,
        instrument or commitment, written or oral, which restricts or limits the
        right of the Company to carry on or compete in any business or activity,
        or to solicit business from any person or in any geographical area or
        otherwise; 

	 	 	 
	 	(xxxxxii)	the net proceeds of the Offering shall be used by
        the Company to carry out further development of its Kirkland Lake mining
        operations in particular, the recently announced programs developing the
        regions from Shaft No. 3 to the south of the Main Break and for general
        working capital purposes; and 

	 	 	 
	 	(xxxxxiii)	the Company is a “qualifying issuer” (as
        such term is defined in Rule 45-102). 

(b)          
  Representations, Warranties and Covenants of the Agents. Each of the
  Agents hereby represents, warrants and covenants to the Company, and acknowledges
  that the Company is relying upon such representations, warranties and covenants,
  that: 

	 	(i)	in respect of the offer and sale of the Units, the
        Agents will comply with all Canadian Securities Laws and all applicable
        laws of the Selling Jurisdictions outside of Canada in which the Agents
        offer the Units for sale on the Company’s behalf;

- 15 - 

 

	 	(ii)	the Agents and their respective representatives
        have not engaged in or authorized, and will not engage in or authorize,
        any form of general solicitation or general advertising in connection
        with or in respect of the Units in any newspaper, magazine, printed media
        of general and regular paid circulation or any similar medium, or broadcast
        over radio or television or otherwise or conducted any seminar or meeting
        concerning the offer or sale of the Units whose attendees have been invited
        by any general solicitation or general advertising; and

	 	 	 
	 	(iii)	the Agents have not and will not solicit
        offers to purchase or sell the Units so as to require the filing of a
        prospectus, registration statement or offering memorandum with respect
        thereto or the provision of a contractual right of action (as defined
        in Ontario Securities Commission Rule 14-501) under the laws of any jurisdiction.

 5.           Closing
  Deliveries. The purchase and sale of the Units shall be completed at the
  Closing Time at the offices of the Agents’ solicitors, Cassels Brock &
  Blackwell LLP, Scotia Plaza, Suite 2100, 40 King Street West, Toronto, Ontario,
  M5H 3C2, or at such other place as the Agents and the Company may agree upon.
  At or prior to the Closing Time, the Company shall, subject to the provisions
  of Section 6 of this Agreement, duly and validly deliver to the Agents certificates
  in definitive form representing the Unit Shares and Warrants in the names of
  such Purchasers or as indicated in their respective Subscription Agreements,
  against payment at the direction of the Company of the subscription price therefor,
  in lawful money of Canada by certified cheque or bank draft payable at par in
  the city of Toronto or Vancouver. The Agents and the Purchasers may discharge
  their payment obligations under this paragraph 5 by delivery of certified cheques
  or bank drafts or by wire transfer to the Company equal to the aggregate purchase
  price for the Units less: (i) the Agents’ Commission; and (ii) the reasonable
  out-of-pocket costs and expenses of the Agents, including reasonable fees and
  disbursements of counsel to the Agents, to a maximum of $25,000, exclusive of
  disbursements and GST. 

 6.           Closing
  Conditions. Each Purchaser’s obligation to purchase the Units at the
  Closing Time shall be conditional upon the fulfilment at or before the Closing
  Time of the following conditions: 

	(a)	the Agents shall have received
        a certificate, dated as of the Closing Date, signed by the Chief Executive
        Officer and the Chief Financial Officer of the Company, or such other
        officers of the Company as the Agents may agree, certifying for and on
        behalf of the Company, to the best of their knowledge, information and
        belief, that:

	 	 	 
	 	(i)	no order, ruling or determination having the effect of suspending
      the sale or ceasing the trading in any securities of the Company (including
      the Common Shares) has been issued by any regulatory authority and is continuing
      in effect and no proceedings for that purpose have been instituted or are
      pending or, to the knowledge of such officers, contemplated or threatened
      by any regulatory authority;
	 	 	 
	 	(ii)	the Company has duly complied with all the terms, covenants
      and conditions of this Agreement on its part to be complied with up to the
      Closing Time; and

- 16 -

 

	 	(iii)
	the representations and warranties of
        the Company contained in this Agreement are true and correct as of the
        Closing Time with the same force and effect as if made at and as of the
        Closing Time after giving effect to the transactions contemplated by this
        Agreement.

	 	 	 
	(b)	the Agents shall have received
        at the Closing Time certificates dated the Closing Date, signed by appropriate
        officers of the Company addressed to the Agents and their counsel, with
        respect to the constating documents of the Company, all resolutions of
        the Company’s board of directors relating to this Agreement and the
        transactions contemplated hereby and thereby, the incumbency and specimen
        signatures of signing officers of the Company and such other matters as
        the Agents may request;

	 	 	 
	(c)	the Agents shall have received
        at the Closing Time, evidence that all requisite approvals, consents and
        acceptances of the directors, the shareholders, the appropriate regulatory
        authorities and the TSX required to be made or obtained by the Company
        in order to complete the Offering have been obtained by the Company on
        terms acceptable to the Agents;

	 	 	 
	(d)	the Subscription Agreements
        and the certificates representing the Unit Shares and Warrants shall have
        been executed and delivered by the parties thereto in form and substance
        satisfactory to the Agents and their counsel, acting reasonably;

	 	 	 
	(e)	the Company shall be a "qualifying
        issuer" (as such term is defined in Rule 45-102);

	 	 	 
	(f)	the Unit Shares and the
        Warrant Shares shall have been conditionally approved for listing and
        posting on the TSX;

	 	 	 
	(g)	the Agents shall have received
        favourable legal opinions addressed to the Agents, the Purchasers and
        the Agents’ counsel, in form and substance satisfactory to the Agents’
        counsel, dated the Closing Date, from O'Neill & Company, counsel for
        the Company and where appropriate, counsel in the other Selling Jurisdictions,
        which counsel in turn may rely, as to matters of fact, on certificates
        of auditors, public officials and officers of the Company, with respect
        to the following matters:

	 	 	 
	 	(i)
	as to the incorporation and subsistence
        of the Company under the laws of Canada and as to the corporate power
        of the Company to carry out its obligations under this Agreement and the
        Subscription Agreements, and to issue the Unit Shares, the Warrants and
        the Warrant Shares;

	 	 	 
	 	(ii)
	as to the authorized and issued capital
        of the Company;

	 	 	 
	 	(iii)
	the Company has all requisite corporate
        power and authority under the laws of its jurisdiction of incorporation
        to carry on its business as presently carried on and to own its properties
        and assets;

- 17 -

 

	 	(iv)	none of the execution and delivery of
        this Agreement and the Subscription Agreements, the performance by the
        Company of its obligations hereunder and thereunder, or the sale or issuance
        of the Unit Shares, the Warrants and the Warrant Shares will conflict
        with or result in any breach of the constating documents or by-laws of
        the Company, or any law, contract, instrument or agreement to which the
        Company is otherwise bound;

	 	 	 
	 	(v)	each of this Agreement, the Subscription
        Agreements and the Warrants have been duly authorized and executed and
        delivered by the Company, and constitute a valid and legally binding obligation
        of the Company enforceable against it in accordance with its terms, except
        as enforcement thereof may be limited by bankruptcy, insolvency, liquidation,
        reorganization, moratorium or similar laws affecting the rights of creditors
        generally and except as limited by the application of equitable principles
        when equitable remedies are sought, and the qualification that the enforceability
        of rights of indemnity and contribution may be limited by applicable law;

	 	 	 
	 	(vi)	all necessary corporate action has been
        taken by the Company to authorize the issuance and sale of the Unit Shares,
        and the Unit Shares have been validly issued as fully paid and non-assessable
        securities in the capital of the Company;

	 	 	 
	 	(vii)	the Warrants have been duly and validly
        created and issued;

	 	 	 
	 	(viii)	 the Warrant Shares have been reserved,
        authorized and allotted for issuance to the Agents and, upon the due exercise
        of the Warrants in accordance with the provisions thereof, will be validly
        issued as fully paid and non-assessable securities in the capital of the
        Company;

	 	 	 
	 	(ix)	the issuance and sale by the Company
        of the Unit Shares and Warrants to the Purchasers are exempt from the
        prospectus and registration requirements of applicable Canadian Securities
        Laws and no documents are required to be filed (other than specified forms
        accompanied by requisite filing fees), proceedings taken or approvals,
        permits, consents or authorizations obtained under the applicable Canadian
        Securities Laws to permit such issuance and sale;

	 	 	 
	 	(x)	the issuance of the Warrant Shares upon
        the due exercise of the Warrants is exempt from the prospectus and registration
        requirements of applicable Canadian Securities Laws subject to certain
        provisos and specified resale restrictions;

	 	 	 
	 	(xi)	no other documents will be required
        to be filed, proceedings taken or approvals, permits, consents or authorizations
        obtained under the applicable Canadian Securities Laws in connection with
        the first trade of the Unit Shares and Warrants provided the Unit Shares
        and Warrants, as applicable, have been held for a period of four months
        following the Closing Date, subject to the usual qualifications;

- 18 -

 

	 	(xii)
	no other documents will be required
        to be filed, proceedings taken or approvals, permits, consents or authorizations
        obtained under the applicable Canadian Securities Laws in connection with
        the first trade of the Warrant Shares, provided the Warrants or Warrant
        Shares have been held for a period of four months following the date of
        issuance of the Warrants, subject to the usual qualifications;

	 	 	 
	 	(xiii) 
	the Company is a "qualifying issuer"
        (as defined in Rule 45-102);

	 	 	 
	 	(xiv)
	the Unit Shares and the Warrant Shares
        have been conditionally approved for listing on the TSX;

	 	 	 
	 	(xv)
	the Transfer Agent has been duly and
        properly appointed by the Company as the registrar and transfer agent
        of the Common Shares;

	 	 	 
	 	(xvi)
	such other matters as the Agents’
        legal counsel may reasonably request prior to the Closing Time;

	 	 	 
	(h)	the Agents shall have received
        a certificate of compliance or similar certificate with respect to the
        jurisdiction in which the Company is incorporated;

	 	 	 
	(i)	the Agents shall, in their
        sole discretion, be satisfied with its due diligence review with respect
        to the business, assets, financial condition, affairs and prospects of
        the Company;

	 	 	 
	(j)	the Agents shall have received
        certificates as to reporting issuer status from the Securities Regulators
        in British Columbia, Alberta and Ontario; and

	 	 	 
	(k)	such other matters as the
        Agents or their counsel may reasonably require.

7.           Rights
  of Termination

 (a)          
       Due Diligence Out. If the due diligence
  investigations performed by the Agents and/or their representatives reveal any
  material information or fact not generally known to the public which might,
  in the Agents’ sole opinion, adversely affect the market price of the Company’s
  Common Shares, quality of the investment or marketability of the Offering, the
  Agents shall be entitled, at their sole option and in accordance with subparagraph
  7(h) of this Agreement, to terminate their obligations under this Agreement
  (and the obligations of the Purchasers arranged by them to purchase Common Shares)
  by written notice to that effect given to the Company any time prior to the
  Closing Time.

 (b)          
       Litigation Out. If any inquiry, action,
  suit, investigation or proceeding, whether formal or informal, (including matters
  of regulatory transgression or unlawful conduct) is commenced, announced or
  threatened in relation to the Company or any of the officers or directors of
  the Company or any of its principal securityholders, the Agents shall be entitled,
  at their sole option and in accordance with subparagraph 7(h) of this Agreement,
  to terminate their obligations under this Agreement (and the obligations of
  the Purchasers arranged by them to purchase Common Shares) by written notice
  to that effect given to the Company any time prior to the Closing Time.

 - 19 - 

 (c)          
  Disaster Out. If prior to the Closing Time, there should develop, occur
  or come into effect any event of any nature, including terrorism, accident,
  a new or change in any governmental law or regulation, or other condition or
  major financial occurrence of national or international consequence, which,
  in the sole opinion of the Agents, adversely affects, or may adversely affect,
  the financial markets generally or the business, operations, affairs or profitability
  of the Company, or on the market price or value of the Common Shares, the Agents
  shall be entitled at their sole option, in accordance with subparagraph 7(h)
  of this Agreement, to terminate their obligations under this Agreement (and
  the obligations of the Purchasers arranged by them to purchase Common Shares)
  by written notice to that effect given to the Company prior to the Closing Time.

 (d)          
  Change in Material Fact. If prior to the Closing Time, the Agents or
  the Agents’ representatives, through their due diligence investigations,
  or otherwise discover or there should occur a material change or a change in
  any material fact or new material fact shall arise, which, in the sole opinion
  of the Agents, has or could be expected to have an adverse change or adverse
  effect on the business, affairs or profitability of the Company or on the market
  price or value of the Common Shares, the Agents shall be entitled, at their
  sole option, in accordance with subparagraph 7(h), to terminate their obligations
  under this Agreement (and the obligations of the Purchasers arranged by them
  to purchase Common Shares) by written notice to that effect given to the Company
  prior to the Closing Time. 

 (e)          
  Market Out. If prior to the Closing Time, the state of the Canadian,
  United States or international financial markets is such that, in the sole opinion
  of the Agents, the Common Shares cannot be profitably marketed, the Agents shall
  be entitled at their sole option, in accordance with subparagraph 7(h) of this
  Agreement, to terminate their obligations under this Agreement (and the obligations
  of the Purchasers arranged by them to purchase Common Shares) by written notice
  to that effect given to the Company prior to the Closing Time. 

 (f)          
  Non-Compliance With Conditions. The Company agrees that all terms, conditions
  and covenants in this Agreement shall be construed as conditions and complied
  with so far as the same relate to acts to be performed or caused to be performed
  by the Company, it will use its best efforts to cause such conditions to be
  complied with, and any breach or failure by the Company to comply with any of
  such conditions or if any representation or warranty given by the Company becomes
  false and is not rectified as at the Closing Time, shall entitle the Agents,
  at their option, in accordance with subparagraph 7(h), to terminate their obligations
  under this Agreement (and the obligations of the Purchasers arranged by them
  to purchase Common Shares) by written notice to that effect given to the Company
  at or prior to the Closing Time. The Agents may waive, in whole or in part,
  or extend the time for compliance with, any terms and conditions without prejudice
  to its rights in respect of any other of such terms and conditions or any other
  or subsequent breach or non-compliance, provided that any such waiver or extension
  shall be binding upon the Agents only if the same is in writing and signed by
  the Agents. 

 (g)          
  Cease Trade Order. If any order to cease trading in securities of the
  Company is made or threatened by a Securities Regulator, which, in the sole
  opinion of the Agents, operates or 

- 20 -

 could operate to prevent or restrict trading in or distribution
  of the Units in any of the Selling Jurisdictions, the Agents shall be entitled,
  at their option, in accordance with subparagraph 7(h) of this Agreement, to
  terminate their obligations under this Agreement (and the obligations of the
  Purchasers arranged by them to purchase Common Shares) by written notice to
  that effect given to the Company prior to the Closing Time. 

 (h)          
  Exercise of Termination Rights. The rights of termination contained in
  subparagraphs 7(a), (b), (c), (d), (e), (f) and (g) may be exercised by the
  Agents and are in addition to any other rights or remedies the Agents may have
  in respect of any default, act or failure to act or non-compliance by the Company
  in respect of any of the matters contemplated by this Agreement or otherwise.
  Upon any such termination by the Agents, there shall be no further liability
  on the part of the Agents to the Company or on the part of the Company to the
  Agents except in respect of any liability which may have arisen or may arise
  after such termination in respect of acts or omissions prior to such termination
  under paragraphs 8 and 10. 

 8.           Expenses.
  Whether or not the sale of the Units shall be completed, the Company will
  pay all expenses and fees in connection with the Offering, including, all expenses
  of or incidental to the issue, sale or distribution of the Units; the fees and
  expenses of the Company's counsel; all costs incurred in connection with the
  preparation of documents relating to the Offering; and all reasonable expenses
  and fees incurred by the Agents, which shall include the reasonable fees and
  disbursements of the Agents’ counsel (to a maximum of $25,000 exclusive
  of disbursements and GST). All reasonable fees and expenses incurred
  by the Agents or on their behalf shall be payable by the Company immediately
  upon receiving an invoice therefor from the Agents, and may be deducted from
  the gross proceeds payable to the Company at the Closing Time. Notwithstanding
  the foregoing, the fees and expenses of the Agents shall not be payable by the
  Company if the Offering is not completed due to the material default by the
  Agents of their obligations under this Agreement. For greater certainty, the
  inability of the Agents to sell the Units on behalf of the Company shall not
  be considered a default of the Agents pursuant to the terms of this Agreement.

 9.           Survival
  of Representations and Warranties. All terms, warranties, representations,
  covenants and agreements herein contained or contained in any documents submitted
  pursuant to this Agreement and in connection with the transactions herein contemplated
  shall survive the purchase and sale of the Units and continue in full force
  and effect for the benefit of the Agents and Purchasers for a period of two
  years after the Closing Date and shall not be limited or prejudiced by any investigation
  made by or on behalf of the Agents in connection with the purchase and sale
  of the Units. 

 10.          
  (a)           Indemnity.
  The Company (the “Indemnitor”) hereby agrees to indemnify and hold
  the Agents, (including the syndicate of registered dealers formed by the Agents,
  and/or any of their respective affiliates) and each of the directors, officers,
  employees and shareholders of each of the Agents (hereinafter collectively referred
  to as the "Personnel") harmless from and against any and all expenses, losses
  (other than loss of profits), claims, actions, damages or liabilities, whether
  joint or several (including the aggregate amount paid in reasonable settlement
  of any actions, suits, proceedings or claims), and the reasonable fees and expenses
  of their counsel that may be incurred in advising with respect to and/or defending
  any claim that may be 

- 21 -

 made against the Agents, to which the Agents and/or the Personnel
  may become subject or otherwise involved in any capacity under any statute or
  common law or otherwise insofar as such expenses, losses, claims, damages, liabilities
  or actions arise out of or are based, directly or indirectly, upon the performance
  of professional services rendered to the Indemnitor by the Agents and the Personnel
  hereunder or otherwise in connection with the matters referred to in this agreement
  to which this is attached, provided, however, that this indemnity shall not
  apply to the extent that a court of competent jurisdiction in a final judgment
  that has become non-appealable shall determine that: 

	 	(i)	the Agents or the Personnel have been
        negligent or dishonest or have committed any fraudulent act in the course
        of such performance; and

	 	 	 
	 	(ii)	the expenses, losses, claims, damages
        or liabilities, as to which indemnification is claimed, were directly
        caused by the negligence, dishonesty or fraud referred to in (i).

 If for any reason (other than the occurrence of any of the
  events itemized in (i) and (ii) above), the foregoing indemnification is unavailable
  to the Agents or insufficient to hold them harmless, then the Indemnitor shall
  contribute to the amount paid or payable by the Agents as a result of such expense,
  loss, claim, damage or liability in such proportion as is appropriate to reflect
  not only the relative benefits received by the Indemnitor on the one hand and
  the Agents on the other hand but also the relative fault of the Indemnitor and
  the Agents, as well as any relevant equitable considerations; provided that
  the Indemnitor shall, in any event, contribute to the amount paid or payable
  by the Agents as a result of such expense, loss, claim, damage or liability,
  any excess of such amount over the amount of the fees received by the Agents
  hereunder pursuant to this Agency Agreement. 

 Each Indemnitor agrees that in case any legal proceeding shall
  be brought against the Indemnitor and/or any of the Agents by any governmental
  commission or regulatory authority or any stock exchange or other entity having
  regulatory authority, either domestic or foreign, shall investigate the Indemnitor
  and/or any of the Agents and any Personnel of the Agents shall be required to
  testify in connection therewith or shall be required to respond to procedures
  designed to discover information regarding, in connection with, or by reason
  of the performance of professional services rendered to the Indemnitor by the
  Agents, the Agents shall have the right to employ their own counsel in connection
  therewith, and the reasonable fees and expenses of such counsel as well as the
  reasonable costs (including an amount to reimburse the Agents for time spent
  by their Personnel in connection therewith) and out-of-pocket expenses incurred
  by their Personnel in connection therewith shall be paid by the Indemnitor as
  they occur. Provided that, notwithstanding the foregoing, the Agents and the
  Personnel shall utilize the Indemnitor's counsel unless in the opinion of any
  of the Agents, based on advice from such Agents’ counsel, there is an actual,
  potential or apparent conflict between the interests of such parties and the
  interests of the Indemnitor such that joint representation would be inappropriate.

 Promptly after receipt of notice of the commencement of any
  legal proceeding against the Agents or any of the Personnel or after receipt
  of notice of the commencement of any investigation, which is based, directly
  or indirectly, upon any matter in respect of which indemnification may 

- 22 -

 be sought from the Indemnitor, the Agents will notify the
  Indemnitor in writing of the commencement thereof and, throughout the course
  thereof, will provide copies of all relevant documentation to the Indemnitor,
  will keep the Indemnitor advised of the progress thereof and will discuss with
  the Indemnitor all significant actions proposed. 

 The indemnity and contribution obligations of the Indemnitor
  shall be in addition to any liability which the Indemnitor may otherwise have,
  shall extend upon the same terms and conditions to those of the Agents and the
  Personnel who are not signatories hereto and shall be binding upon and enure
  to the benefit of any successors, assigns, heirs and personal representatives
  of the Indemnitor, the Agents and any of the Personnel of the Agents. The foregoing
  provisions shall survive the completion of professional services rendered under
  this Agency Agreement or any termination of the authorization given by this
  Agency Agreement. 

 (b)          
  Right of Indemnity in Favour of Others. With respect to any party who
  may be indemnified by paragraph 10(a) above and is not a party to this Agreement,
  the Agents shall obtain and hold the rights and benefits of this paragraph 10
  in trust for and on behalf of such Indemnified Party. 

 11.          Advertisements.
  The Company acknowledges that the Agents shall have the right, subject always
  to clauses 1(a) and (c) of this Agreement, at its own expense, to place such
  advertisement or advertisements relating to the sale of the Units contemplated
  herein as the Agents may consider desirable or appropriate and as may be permitted
  by applicable law. The Company and the Agents each agree that they will not
  make or publish any advertisement in any media whatsoever relating to, or otherwise
  publicize, the transaction provided for herein so as to result in any exemption
  from the prospectus and registration requirements of applicable securities legislation
  in any of the provinces of Canada or any other jurisdiction in which the Units
  shall be offered or sold being unavailable in respect of the sale of the Units
  to prospective purchasers. 

 12.          Right
  of First Refusal. The Company hereby confirms that the Agents have a right
  of first refusal to lead any and all equity financings proposed by the Company
  for a period of 18 months commencing on December 30, 2002 and ending on June
  30, 2004, pursuant to an agency agreement between the Company and the Agents
  dated December 30, 2002. 

 13.          Notices.
  Unless otherwise expressly provided in this Agreement, any notice or other communication
  to be given under this Agreement (a “notice”) shall be in writing
  addressed as follows: 

	(a)	If to the Company, to it at:
	 	 
	 	Kirkland Lake Gold Inc.
	 	Macassa Mine
	 	Kirkland Lake, Ontario P2N 3J7
	 	 
	 	Attention:           Brian
      Hinchcliffe
	 	Telecopier:          (705)
      568-6444

- 23 -

 

	 	with a copy to:
	 	 
	 	O'Neill & Company
	 	Suite 1880 Royal Centre
	 	1055 West Georgia Street
	 	Vancouver, British Columbia V6E 3P3
	 	 
	 	Attention:           Michael
      F. Provenzano
	 	Telecopier:          (604)
      687-6650
	 	 
	(b)	If to the Agents, to:
	 	 
	 	Fort House Inc.
	 	The Exchange Tower
	 	130 King Street West, Suite 3690
	 	Toronto, Ontario M5X 1C7
	 	 
	 	Attention:           Dennis
      Wing
	 	Telecopier:          (416)
      869-8650
	 	 
	 	Octagon Capital Corporation
	 	181 University Avenue, Suite 400
	 	Toronto, Ontario M5H 3M7
	 	 
	 	Attention:           Dennis
      Chiu
	 	Telecopier:          (416)
      368-1982
	 	 
	 	with a copy to:
	 	 
	 	Cassels Brock & Blackwell LLP
	 	Suite 2100, Scotia Plaza
	 	40 King Street West
	 	Toronto, Ontario M5H 3C2
	 	 
	 	Attention:           Cam
      Mingay
	 	Telecopier:          (416)
      640-3163

 or to such other address as any of the parties may designate
  by notice given to the others. 

 Each notice shall be personally delivered to the addressee
  or sent by facsimile transmission to the addressee and (i) a notice which is
  personally delivered shall, if delivered on a Business Day, be deemed to be
  given and received on that day and, in any other case, be deemed to be given
  and received on the first Business Day following the day on which it is delivered;
  and (ii) a notice which is sent by facsimile transmission shall be deemed to
  be given and received on the first Business Day following the day on which it
  is sent. 

- 24 -

14.          Time
  of the Essence. Time shall, in all respects, be of the essence hereof.

  

  15.          Canadian
  Dollars. All references herein to dollar amounts are to lawful money of
  Canada.

  

  16.          Headings.
  The headings contained herein are for convenience only and shall not affect
  the meaning or interpretation hereof.

  

  17.          Singular
  and Plural, etc. Where the context so requires, words importing the singular
  number include the plural and vice versa, and words importing gender shall include
  the masculine, feminine and neuter genders.

  

  18.          Entire
  Agreement. This Agreement constitutes the only agreement between the parties
  with respect to the subject matter hereof and shall supersede any and all prior
  negotiations and understandings, including the engagement letter effective as
  of November 21, 2003. This Agreement may be amended or modified in any respect
  by written instrument only.

 19.          Severability.
  The invalidity or unenforceability of any particular provision of this Agreement
  shall not affect or limit the validity or enforceability of the remaining provisions
  of this Agreement.

 20.          Governing
  Law. This Agreement shall be governed by and construed in accordance with
  the laws of the Province of British Columbia and the laws of Canada applicable
  therein.

 21.          Successors
  and Assigns. The terms and provisions of this Agreement shall be binding
  upon and enure to the benefit of the Company, the Agents and the Purchasers
  and their respective executors, heirs, successors and permitted assigns; provided
  that, except as provided herein or in the Subscription Agreements, this Agreement
  shall not be assignable by any party without the written consent of the others.

 22.          Further
  Assurances. Each of the parties hereto shall do or cause to be done all
  such acts and things and shall execute or cause to be executed all such documents,
  agreements and other instruments as may reasonably be necessary or desirable
  for the purpose of carrying out the provisions and intent of this Agreement.

 23.          Effective
  Date. This Agreement is intended to and shall take effect as of the date
  first set forth above, notwithstanding its actual date of execution or delivery.

 24.          Language.
  The parties hereby acknowledge that they have expressly required this Agreement
  and all notices, statements of account and other documents required or permitted
  to be given or entered into pursuant hereto to be drawn up in the English language
  only. Les parties reconnaissent avoir expressment demandées que la présente
  Convention ainsi que tont avis, toutétnt de compte et tout autre document
  a être ou pouvant etre donné ou conclu en vertu des dispositions
  des présentes, soient rédigés en langue anglaise seulement.

 - 25 - 

25.           Counterparts.
  This Agreement may be executed in any number of counterparts, by original
  or facsimile signature, each of which so executed shall constitute an original
  and all of which when taken together shall form one and the same agreement.

 

 

[INTENTIONALLY BLANK] 

  

- 26 -

 If the Company is in agreement with the foregoing terms and
  conditions, please so indicate by executing a copy of this Agreement where indicated
  below and delivering the same to the Agents. 

Yours very truly,

FORT HOUSE INC. 

 

  Per: ______________________________

         Authorized Signing Officer 

OCTAGON CAPITAL CORPORATION 

 Per: ______________________________

         Authorized Signing Officer 

The foregoing is hereby accepted on the terms and conditions therein set forth.

 DATED as of____________________ ____, 2003. 

KIRKLAND LAKE GOLD INC.  

 

  Per: ______________________________

         Authorized Signing Officer

- 27 -

SCHEDULE “A” 

 DETAILS OF OUTSTANDING CONVERTIBLE SECURITIES

 KIRKLAND LAKE GOLD INC.

  November 30, 2003 

	 	Number of

       Shares
	Current issued and outstanding shares:	30,808,714
	Stock Options:
                200,000
      @$1.10 each expiring March 27, 2006
                324,000
      @$1.35 each expiring October 3, 2006
                  15,400
      @$1.35 each expiring February 6, 2007
                101,000
      @$1.60 each expiring April 11, 2007
                  35,000
      @$2.05 each expiring May 22, 2007
                  35,000
      @$2.45 each expiring June 7, 2007*
                549,500
      @$2.20 each expiring January 10, 2008
                  67,500
      @$2.80 each expiring August 14, 2008
                250,000
      @$3.95 each expiring November 26, 2008
 *subject provisions in Services
      Contracts
 	
 1,577,400
	Share Purchase Warrants:
                125,000
      @$1.55 each expiring December 14, 2003
                750,000
      @$1.60 each expiring March 5, 2004
             1,776,999
      @$3.00 each expiring August 8, 2005 (1st tranche)
                100,500
      @$3.00 each expiring August 26, 2005(2nd tranche)
 
 	
 2,752,499
	 Broker Warrants:
                  97,500
      @$1.30 each expiring December 14, 2003
                136,875
      @$2.05 each expiring June 30, 2004
 
 	
 234,375
	Convertible Loan:
           $2,187,500
      @ a deemed price of $4.00 per share maturing 
                               
      June 11, 2004 plus interest convertible at higher of market or $4.00 per
      share 
           $1,000,000
      convertible @ a deemed price of $4.00 per share 
                               
      maturing February 11, 2005 plus interest convertible at a higher of market
      or 
                               
      $4.00 per share, subject to extension on issuance of a further 75,000 shares

    	
 
 546,875*
 
 250,000*

      *principal only
	Agent’s Compensation Option:
                100,000
      @$2.35 expiring June 21, 2004
                  96,250
      @$3.60 expiring November 14, 2005	
 196,250
	FULLY DILUTED SHARES:

      Excluding conversion of interest	36,366,113

- 28 -

SCHEDULE “B” 

 DETAILS OF OWNED AND MATERIAL LEASED PREMISES

 See attached. 

 

 

-29-

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