Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Kirkland Lake Gold Inc. - Exhibit 4.23

BC, AB and ONT 

KIRKLAND LAKE GOLD INC. 

SUBSCRIPTION AGREEMENT FOR FLOW-THROUGH
SHARES
(Residents of Alberta, British Columbia and Ontario) 

  	IMPORTANT
      
	 	 	 
	The
          following items in this Subscription Agreement have been completed (please
          initial each applicable box): 

	 	 	  

	
        All Purchasers 

	 	 	  

	  	  	 The
          sections headed “Subscriber’s Details” and “Terms
          and Conditions of Subscription for Flow- Through Shares of Kirkland
          Lake Gold Inc.” on pages 2 and 4 respectively of this Subscription
          Agreement 

	 	 	 
	 	 	 

	  	  	 The
          Toronto Stock Exchange Private Placement Questionnaire and Undertaking
          attached as Exhibit 3 (pages 31 and 33 respectively). 

	 	 	  

	 	 	 

	
        Purchasers in British Columbia and Alberta
        

	 	 	  

	  	
 
	 “Accredited
          investors” only - Exhibit 1 and Appendix “A” thereto,
          page 19 indicating which category is applicable 

	 	 	  

	 	 	 

	
        Purchasers in Ontario 

	 	 	  

	 	 

          

        
	 Exhibit
          2 and Appendix “A” thereto, page 26 indicating which category
          is applicable 

	 	 	  

A completed and originally executed
copy of this Subscription Agreement, including the items required to be
completed as set out above, must be delivered by no later than 5:00 p.m.
(Toronto time) on 17 December 2004 to Canaccord Capital Corporation at Suite
1210, 320 Bay Street, Toronto, Ontario M5H 4A6, Attention: Naglaa Pacheco (Tel:
416-869-7708, Facsimile: 416-869-7706). 

2 

SUBSCRIPTION FOR "FLOW-THROUGH" COMMON SHARES 

	TO: 	KIRKLAND LAKE GOLD INC. (the
      "Corporation") 
	AND TO: 	CANACCORD CAPITAL CORPORATION. (the
      "Agent") 

The undersigned (hereinafter referred to as the
"Subscriber") hereby irrevocably subscribes for and agrees to purchase
the number of common shares of the Corporation to be issued on a "flow-through"
basis (the "Flow-Through Shares") for the aggregate subscription price
set out below (the "Subscription Price"), representing a subscription
price of Cdn.$6.00 per Flow-Through Share, upon and subject to the terms and
conditions set out in "Terms and Conditions of Subscription for Flow-Through
Shares of Kirkland Lake Gold Inc." attached hereto and forming a part hereof
(the "Subscription Agreement"). In addition to this face page, the
Subscriber must complete Exhibit 3 and all other applicable exhibits (Exhibit
1or 2) attached hereto. 

Subscriber’s Details: 

	  	 	  
	_______________________________________________	 	Number of Flow-Through
      Shares:  
	(Name of Subscriber - please print) 	 	  
	 
    	 	  
	By: ____________________________________________	 	  
	         (Authorized Signature) 	 	Aggregate Subscription Price: 
	_______________________________________________	 	  
	(Official Capacity or Title – please print) 	 	 
    
	  	 	If the Subscriber is signing as agent for a
    
	_______________________________________________	 	principal and is not a trust company or a
  
	(Please print name of individual whose 	 	portfolio manager, in either case, 
	signature appears above if different than the 	 	purchasing as trustee or agent for accounts
    
	name of the subscriber printed above.) 	 	fully managed by it, complete the following:
    
	_______________________________________________	 	  
	(Subscriber's Address) 	 	_______________________________________________
	_______________________________________________	 	(Name of Principal) 
	(Telephone
      Number)                        
      (Email Address) 	 	_______________________________________________
	_______________________________________________	 	(Principal's address) 
	(Social Insurance Number and Federal 	 	_______________________________________________
	Corporate Tax Account Number) 	 	(Social Insurance Number and Federal 
	  	 	Corporate Tax Account Number) 
	 
    	 	_______________________________________________
	  	 	(Number of Common Shares of the 
	  	 	Corporation currently owned or controlled)
  

3 

	Register the Flow-Through Shares as set 	 	Deliver the Flow-Through Shares as
      set 
	forth below: 	 	forth below: 
	 	 	 
	_______________________________________________	 	_______________________________________________
	(Name) 	 	(Name) 
	_______________________________________________	 	_______________________________________________
	(Account reference, if applicable) 	 	(Account reference, if applicable) 
	_______________________________________________	 	_______________________________________________
	(Address) 	 	(Contact Name) 
	_______________________________________________	 	_______________________________________________
	  	 	(Address) 
	 	 	 

ACCEPTANCE:      The
Corporation hereby accepts the subscription as set forth above on the terms and
conditions contained in this Subscription Agreement and the Corporation
represents and warrants to the Subscriber that the representations and
warranties made by the Corporation to the Agent in the Agency Agreement (as
defined herein) are true and correct in all material respects as of the Closing
Date (as defined herein) (save and except as waived by the Agent) and that the
Subscriber is entitled to rely thereon and on the terms, conditions and
covenants contained in the Agency Agreement as if the Subscriber were a party
thereto. 

December _____, 2004 

	KIRKLAND LAKE GOLD INC. 	  Subscription 
	  	  No: 
	By: _______________________________________________	  

This is the first page of an agreement comprised of 17
pages (not including Exhibits 1-3) 

4 

TERMS AND CONDITIONS OF SUBSCRIPTION FOR 
FLOW-THROUGH
SHARES OF KIRKLAND LAKE GOLD INC. 

General 

1.       The Subscriber
acknowledges (on its own behalf and, if applicable, on behalf of each person on
whose behalf the Subscriber is contracting) that:

	(a) 	
      this subscription is subject to rejection or allotment by
      the Corporation in whole or in part;

	 	 
	(b) 	
      the Flow-Through Shares subscribed for by it hereunder
      form part of a larger issuance and sale by the Corporation of up to
      500,000 Flow-Through Shares of the Corporation at a subscription price of
      Cdn$6.00 per Flow-Through Share to certain parties identified by the
      Corporation for aggregate gross proceeds of Cdn$3,000,000 (the
      "Offering"); and

	 	 
	(c) 	
      this Subscription Agreement and the Exhibits hereto
      require the Subscriber to provide certain personal information to the
      Corporation. Such information is being collected by the Corporation for
      the purposes of completing the Offering, which includes, without
      limitation, determining the Subscriber's eligibility to purchase the
      Flow-Through Shares under applicable securities legislation, preparing and
      registering certificates representing Flow-Through Shares to be issued to
      the Subscriber and completing filings required by any stock exchange or
      securities regulatory authority. The Subscriber's personal information may
      be disclosed by the Corporation to (i) stock exchanges or securities
      regulatory authorities, (ii) the Corporation's registrar and transfer
      agent, and (iii) any of the other parties involved in the Offering,
      including legal counsel, and may be included in record books in connection
      with the Offering. By executing this Subscription Agreement, the
      Subscriber (on its own behalf and, if applicable, on behalf of each person
      on whose behalf the Subscriber is contracting) is deemed to be consenting
      to (i) the foregoing collection, use and disclosure of the Subscriber's
      personal information, and (ii) the filing of copies or originals of any of
      the Subscriber's documents described in paragraph 7 hereof as may be
      required to be filed with any stock exchange or securities regulatory
      authority in connection with the transactions contemplated hereby. The
      Subscriber represents and warrants that it has the authority to provide
      the consents and acknowledgments set out in this paragraph on behalf of
      all beneficial purchasers.

Representations, Warranties and Covenants by Subscriber

2.       The Subscriber (on its
own behalf and, if applicable, on behalf of each person on whose behalf the
Subscriber is contracting) represents, warrants and covenants to the Corporation
and the Agent (and acknowledges that the Corporation and the Agent, and their
respective counsel, are relying thereon) that: 

	(a) 	
      the funds representing the Subscription Price which will
      be advanced by the Subscriber to the Corporation hereunder will not
      represent proceeds of crime for the purposes of the Proceeds of Crime
      (Money Laundering) Act (Canada) (the "PCMLA") and the
      Subscriber acknowledges that the Corporation may in the future be required
      by law to disclose the Subscriber's name and other information relating to
      this Subscription Agreement and the Subscriber's subscription hereunder,
      on a confidential basis, pursuant

5 

		
      to the PCMLA. To the best of its knowledge, none of the
      subscription funds to be provided by the Subscriber (i) have been or will
      be derived from or related to any activity that is deemed criminal under
      the laws of Canada, the United States of America, or any other
      jurisdiction, or (ii) are being tendered on behalf of a person or entity
      who has not been identified to the Subscriber. The Subscriber shall
      promptly notify the Corporation if the Subscriber discovers that any of
      such representations ceases to be true, and to provide the Corporation
      with appropriate information in connection therewith; and

	 	 	 
	(b) 	
      it has been independently advised as to restrictions with
      respect to trading in the Flow- Through Shares imposed by applicable
      securities legislation and the policies of the Toronto Stock Exchange,
      confirms that no representation has been made to it by or on behalf of the
      Corporation with respect thereto, acknowledges that it is aware of the
      characteristics of the Flow-Through Shares, the risks relating to an
      investment therein and of the fact that it may not be able to resell the
      Flow-Through Shares except in accordance with limited exemptions under
      applicable securities legislation and regulatory policy until expiry of
      the applicable hold period and compliance with the other requirements of
      applicable law; and it agrees that any certificates representing the Flow-
      Through Shares may bear legends indicating that the resale of such
      securities is restricted; and

	 	 	 
	(c) 	
      it is aware that the Corporation is not undertaking to
      file a prospectus, now or in the future, with respect to the sale to the
      Subscriber of the Flow-Through Shares or any resale of the Flow-Through
      Shares by the Subscriber; and

	 	 	 
	(d) 	
      it has not received or been provided with, nor has it
      requested, nor does it have any need to receive, any offering memorandum,
      or any other document (other than an annual report, annual information
      form, interim report, information circular or any other continuous
      disclosure document, the content of which is prescribed by statute or
      regulation) describing the business and affairs of the Corporation which
      has been prepared for delivery to, and review by, prospective purchasers
      in order to assist it in making an investment decision in respect of the
      Flow-Through Shares; and

	 	 	 
	(e) 	
      it has not become aware of any advertisement in printed
      media of general and regular paid circulation (or other printed public
      media), radio, television or telecommunications or other form of
      advertisement (including electronic display) with respect to the
      distribution of the Flow-Through Shares; and

	 	 	 
	(f) 	
      unless it is purchasing under subparagraph 2(g), it is
      purchasing the Flow-Through Shares as principal for its own account, not
      for the benefit of any other person, for investment only and not with a
      view to the resale or distribution of all or any of the Flow- Through
      Shares, it is resident in the jurisdiction set out as the "Subscriber's
      Address" on the face page hereof and, unless it is purchasing under
      subparagraph 2(h), it fully complies with the criteria set forth
    below:

	 	 	 
		(i) 	
      it is an individual and will have an aggregate
      acquisition cost of purchasing the Flow-Through Shares of not less than
      $97,000 if resident in Alberta or British Columbia;
  or

	 	 	 
		(ii) 	
      it is resident in Alberta and is a corporation,
      syndicate, partnership, trust or other form of unincorporated
      organization, it will have an aggregate acquisition cost
  of

6 

	 		
      not less than $97,000, it pre-existed the offering of the
      Flow-Through Shares and has a bona fide purpose other than investment in
      the Flow-Through Shares or, if created to permit such investment, the
      individual share of the aggregate acquisition cost for each participant is
      not less than $97,000; or

	 	 	 
	 	(iii) 	
      it is resident in British Columbia and is not an
      individual but is a corporation, partnership, trust, fund, association or
      any other organized group of persons, it will have an aggregate
      acquisition cost of not less than $97,000, it was not created solely, nor
      is it used primarily, to permit a group of persons to purchase securities
      without a prospectus or, if it is such an entity created or used primarily
      for such purpose and is resident in British Columbia, each of the persons
      who form part of the group has contributed at least $97,000 to such entity
      for the purpose of purchasing the Flow-Through Shares; or

	 	 	 
	 	(iv) 	
      it is resident in Alberta or British Columbia
      and it is an "accredited investor", as such term is defined in
      Multilateral Instrument 45-103 entitled "Capital Raising Exemptions"
      promulgated under the Securities Act (Alberta) and the
      Securities Act (British Columbia) and has concurrently executed
      and delivered a Representation Letter in the form attached as Exhibit 1 to
      this Subscription Agreement indicating that the Subscriber fits within
      one of the categories of "accredited investor" set forth in such
      definition; or

	 	 	 
	 	(v) 	
      it is resident in Alberta or British Columbia
      and is one of the following and has so indicated by initialing the
      applicable paragraph:

	 	_______	(I) 	
      a "director", "senior officer" or "control person" of the
      Corporation, or of an affiliate of the Corporation (within the meaning of
      these expressions as used in the applicable securities laws); or

	 	 	 	 
	 	_______ 	(II) 	
      a "spouse" (within the meaning of that expression as used
      in the applicable securities laws), parent, grandparent, brother, sister
      or child of any person referred to in subparagraph (I) above; or

	 	 	 	 
	 	_______	(III) 	
      a parent, grandparent, brother, sister or child of the
      spouse of any person referred to in subparagraph (I) above;
  or

7 

	 	_______	(IV) 	
      a "close personal friend" (within the meaning of that
      expression as used in the applicable securities laws) of any person
      referred to in subparagraph (I) above and, if requested by the Corporation
      on behalf of the Corporation, will provide a signed statement describing
      any such persons. For the purposes of this subparagraph IV, "close
      personal friend" means that you have directly known such individual well
      enough and for a sufficient period of time and in a sufficiently close
      relationship (where such relationship is direct and extends beyond being a
      relative or a member of the same organization, association or religious
      group or a client, customer or former client or customer or being a close
      personal friend of a close personal friend of such individual) to be in a
      position to assess the capabilities and the trustworthiness of such
      individual; or

	 	 	 	 
	 	_______	(V) 	
      a "close business associate" (within the meaning of that
      expression as used in the applicable securities laws) of any person
      referred to in subparagraph (I) above and, if requested by the Corporation
      on behalf of the Corporation, will provide a signed statement describing
      any of such persons. For the purposes of this subparagraph V "close
      business associate" means that you have had direct sufficient prior
      business dealings with such individual (where such relationship is direct
      and extends beyond being a casual business associate or a person
      introduced or solicited for the purpose of purchasing securities or a
      client, customer or former client or customer or being a close business
      associate of a close business associate of such individual) to be in a
      position to assess the capabilities and trustworthiness of such
      individual; or

	 	 	 	 
	 	_______	(VI) 	
      a "founder" of the Corporation (within the meaning of
      that expression as used in the applicable securities laws) or a spouse,
      parent, grandparent, brother, sister, child, close personal friend or
      close business associate of a founder of the Corporation; or

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

	 	 	 	 
	 	_______	(VIII) 	
      a person or company of which a majority of the voting
      securities are beneficially owned by, or a majority of directors are,
      persons or companies described in subparagraphs (I) through (VII) above;
      or

	 	 	 	 
	 	_______	(IX) 	
      a trust or estate of which all of the beneficiaries or a
      majority of the trustees are persons or companies described in
      subparagraphs (I) through (VII) above; or

	 	(vi) 	
      it is resident in Alberta, it is one of the
      following and has so indicated by initialling the applicable
    paragraph:

8 

	 	_______	(I) 	
      an employee, senior officer, director or consultant of
      the Corporation or of an affiliated entity of the Corporation;
or

	 	 	 	 
	 	_______	(II) 	
      a trustee, custodian or administrator acting on behalf,
      or for the benefit of, a holding entity of, or a registered retirement
      savings plan or registered retirement income fund of, an individual
      referred to in clause (I) above; or

	 	 	 	 
	 	_______	(III) 	
      a trustee, custodian or administrator acting on behalf,
      or for the benefit of, a holding entity of, or a registered retirement
      savings plan or registered retirement income fund of, the spouse of an
      individual referred to in clause (I) above;

provided that its participation in the
trade is voluntary, meaning it is not induced to participate in the trade by
expectation of employment or continued employment with, appointment or continued
appointment with, or engagement to provide services or continued engagement to
provide services to, as applicable, the Corporation or an affiliated entity of
the Corporation; or 

	 	(vii) 	
      it is resident in British Columbia, it is one of
      the following and has so indicated by initialling the applicable
      paragraph:

	 	_______	(I) 	
      an employee, senior officer or director of the
      Corporation or an affiliated entity of the Corporation and has not been
      induced to purchase by expectation of employment or continued employment;
      or

	 	 	 	 
	 	_______	(II) 	
      acting on behalf of an individual referred to in clause
      (I) above; or

	 	 	 	 
	 	_______	(III) 	
      an issuer all of the voting securities of which are
      beneficially owned by one or more of the persons referred to in clause (I)
      above;

	 	(viii) 	
      it is resident in Ontario, it is an "accredited
      investor" as defined in Ontario Securities Commission Rule 45-501 entitled
      "Exempt Distributions" promulgated under the Securities Act
      (Ontario) and has concurrently executed and delivered a
      Representation Letter in the form attached as Exhibit 2 to this
      Subscription Agreement indicating that the Subscriber fits within one
      of the categories of "accredited investor" set forth in such definition;
      and

	(g) 	
      if it is not purchasing as principal, it is duly
      authorized to enter into this Subscription Agreement and to execute all
      documentation in connection with the purchase on behalf of each beneficial
      purchaser for whom it is acting, each of whom is purchasing 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 all or any of the Flow-Through
      Shares, it acknowledges that the Corporation may be required by law to
      disclose to certain regulatory authorities the identity of each beneficial
      purchaser of Flow-Through Shares for whom it may be acting, it and each
      beneficial purchaser is resident in the jurisdiction set out as the
      "Subscriber's Address", and:

9 

	 	(i) 	
      if it is resident in British Columbia it complies
      with the exemption set out in subparagraph 2(f)(iii) hereof, and it is a
      trust company or an insurer authorized to carry on business under the
      Financial Institutions Act (British Columbia) purchasing the
      Flow-Through Shares as agent or trustee on behalf of accounts that are
      fully managed by it (insofar as it makes the investment decisions for the
      account and has full discretion to purchase or sell securities for the
      account without requiring the client's express consent to a transaction),
      or it is a portfolio manager who manages the investment portfolio of
      clients through discretionary authority granted by one or more clients and
      who is registered as a portfolio manager under the Securities Act
      (British Columbia) or exempted from such registration purchasing the
      Flow-Through Shares as agent or trustee on behalf of accounts that are
      fully managed by it; or

	 	 	 
	 	(ii) 	
      if it is resident in Alberta it complies with the
      exemption set out in subparagraph 2(f)(ii) hereof, and it is purchasing
      Flow-Through Shares for accounts fully managed by it and is a trust
      corporation trading as a trustee or an agent, a portfolio manager trading
      as an agent, or a person or company trading as an agent that, except for
      an exemption under the Securities Act (Alberta) or the rules and
      regulations thereunder, is required to be registered as a portfolio
      manager; or

	 	 	 
	 	(iii) 	
      if it is resident in British Columbia or
      Alberta it is an "accredited investor" as defined in
      paragraphs (p) or (q) of the definition of "accredited investor" in
      Multilateral Instrument 45-103 (which definition is reproduced in the
      Appendix to Exhibit 1 attached hereto); provided, however that it is not a
      trust company or trust corporation registered under the laws of Prince
      Edward Island that is not registered under the Trust and Loan Companies
      Act (Canada) or under comparable legislation in another jurisdiction
      of Canada and has concurrently executed and delivered to the
      Corporation a Representation letter in the form attached hereto as Exhibit
      1 indicating that the Subscriber fits within one of the categories of
      "accredited investor" set forth in paragraphs (p) or (q) of such
      definition; or

	 	 	 
	 	(iv) 	
      if it is acting as agent for one or more disclosed
      principals, each of such principals is purchasing as principal for its own
      account, not for the benefit of any other person, for investment only, and
      not with a view to the resale or distribution of all or any of the
      Flow-Through Shares, and each of such principals complies with
      subparagraphs 2(f)(i) through (vii) hereof, as applicable to the nature of
      such principal and by virtue of its jurisdiction of residence;
  and

	(h) 	
      if it is a resident of any jurisdiction not referred
      to in the preceding paragraphs, it, or any beneficial purchaser for
      whom it is acting, complies with all applicable securities legislation in
      the jurisdiction of its residence and will provide such evidence of
      compliance with all such matters as the Corporation or the Agent or their
      respective counsel may request, and it, and any beneficial purchaser for
      whom it is acting, certifies that it is not a resident of
  Alberta;

	 	 	 
	(i) 	
      it acknowledges that:

	 	 	 
		(i) 	
      no securities commission or similar regulatory authority
      has reviewed or passed on the merits of the Flow-Through Shares;
  and

10 

	 	(ii) 	
      there is no government or other insurance covering the
      Flow-Through Shares; and

	 	 	 
	 	(iii) 	
      there are risks associated with the purchase of the
      Flow-Through Shares; and

	 	 	 
	 	(iv) 	
      there are restrictions on the Subscriber's ability to
      resell the Flow-Through Shares and it is the responsibility of the
      Subscriber to find out what those restrictions are and to comply with them
      before selling the Flow-Through Shares; and

	 	 	 
	 	(v) 	
      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 23 APRIL
      2005.”

	 	 	 
	 		
      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
      CANNOT 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.”

	 	 	 
	 	(vi) 	
      the Corporation has advised the Subscriber that the
      Corporation is relying on an exemption from the requirements to provide
      the Subscriber with a prospectus and to sell securities through a person
      or company registered to sell securities under the Securities Act
      (British Columbia) and other applicable securities laws and, as a
      consequence of acquiring securities pursuant to this exemption, certain
      protections, rights and remedies provided by the Securities Act
      (British Columbia) and other applicable securities laws, including
      statutory rights of rescission or damages, will not be available to the
      Subscriber; and

	(j) 	
      it is aware that the Flow-Through Shares have not been
      and will not be registered under the United States Securities Act of
      1933, as amended ("U.S. Securities Act") or the securities laws
      of any state and that these securities may not be offered or sold in the
      United States without registration under the U.S. Securities Act or
      compliance with requirements of an exemption from registration and the
      applicable laws of all applicable states and acknowledges that the
      Corporation has no present intention of filing a registration statement
      under the U.S. Securities Act in respect of the Flow-Through Shares;
      and

	 	 
	(k) 	
      the Flow-Through Shares have not been offered to the
      Subscriber in the United States, and the individuals making the order to
      purchase the Flow-Through Shares and executing and delivering this
      Subscription Agreement on behalf of the Subscriber were not in the United
      States when the order was placed and this Subscription Agreement was
      executed and delivered; and

11 

	(l) 	
      it is not a U.S. Person (as defined in Regulation S under
      the U.S. Securities Act, which definition includes, but is not limited to,
      an individual resident in the United States, an estate or trust of which
      any executor or administrator or trustee, respectively, is a U.S. Person
      and any partnership or corporation organized or incorporated under the
      laws of the United States) and is not purchasing the Flow-Through Shares
      on behalf of, or for the account or benefit of, a person in the United
      States or a U.S. Person; and

	 	 
	(m) 	
      it undertakes and agrees that it will not offer or sell
      the Flow-Through Shares in the United States unless such securities are
      registered under the U.S. Securities Act and the securities laws of all
      applicable states of the United States or an exemption from such
      registration requirements is available, and further that it will not
      resell the Flow-Through Share, except in accordance with the provisions of
      applicable securities legislation, regulations, rules, policies and orders
      and stock exchange rules; and

	 	 
	(n) 	
      if a corporation, partnership, unincorporated association
      or other entity, it has the legal capacity to enter into and be bound by
      this Subscription Agreement and further certifies that all necessary
      approvals of directors, shareholders or otherwise have been given and
      obtained; and

	 	 
	(o) 	
      if an individual, it is of the full age of majority and
      is legally competent to execute this Subscription Agreement and take all
      action pursuant hereto; and

	 	 
	(p) 	
      this Subscription Agreement has been duly and validly
      authorized, executed and delivered by and constitutes a legal, valid, and
      binding obligation of the Subscriber; and

	 	 
	(q) 	
      in the case of a subscription by it for Flow-Through
      Shares acting as agent for a disclosed principal, it is duly authorized to
      execute and deliver this agreement and all other necessary documentation
      in connection with such subscription on behalf of such principal 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

	 	 
	(r) 	
      it has such knowledge in financial and business affairs
      as to be capable of evaluating the merits and risks of its investment and
      it is able to bear the economic risk of loss of its investment;
  and

	 	 
	(s) 	
      except for the representations and warranties made by the
      Corporation to the Agent in the Agency Agreement, it has relied solely
      upon publicly available information relating to the Corporation and not
      upon any verbal or written representation as to fact or otherwise made by
      or on behalf of the Corporation or the Agent, such publicly available
      information having been delivered to the Subscriber without independent
      investigation or verification by the Agent, and agrees that the Agent and
      the Agent's counsel assume no responsibility or liability of any nature
      whatsoever for the accuracy, adequacy or completeness of the publicly
      available information or as to whether all information concerning the
      Corporation required to be disclosed by the Corporation has been generally
      disclosed and acknowledges that the Corporation's counsel and the Agent's
      counsel are acting as counsel to the Corporation and the Agent,
      respectively, and not as counsel to the Subscriber; and

	 	 
	(t) 	
      it understands that Flow-Through Shares are being offered
      for sale only on a "private placement" basis and that the sale and
      delivery of the Flow-Through Shares is
conditional

12 

		
      upon such sale being exempt from the requirements as to
      the filing of a prospectus or delivery of an offering memorandum or upon
      the issuance of such orders, consents or approvals as may be required to
      permit such sale without the requirement of filing a prospectus or
      delivering an offering memorandum and, as a consequence (i) it is
      restricted from using most civil remedies available under securities
      legislation; (ii) it may not receive information that would otherwise be
      required to be provided to it under securities legislation; and (iii) the
      Corporation is relieved from certain obligations that would otherwise
      apply under securities legislation; and

	 	 
	(u) 	
      if required by applicable securities legislation,
      regulations, rules, policies or orders or by any securities commission,
      stock exchange or other regulatory authority, the Subscriber will execute,
      deliver, file and otherwise assist the Corporation in filing, such
      reports, undertakings and other documents with respect to the issue of the
      Flow-Through Shares (including, without limitation: (i) in the case of an
      "accredited investor" resident in Alberta or British Columbia, a
      representation letter in the form attached as Exhibit 1, and (ii)
      in the case of an "accredited investor" resident in Ontario, a
      representation letter in the form attached as Exhibit 2;
  and

	 	 
	(v) 	
      it will not resell the Flow-Through Shares except in
      accordance with the provisions of applicable securities legislation and
      stock exchange rules, if applicable, in the future; and

	 	 
	(w) 	
      the entering into of this Subscription Agreement and the
      transactions contemplated hereby will not result in a violation of any of
      the terms or provisions of any law applicable to the Subscriber, or if the
      Subscriber is not a natural person, any of the Subscriber's constating
      documents, or any agreement to which the Subscriber is a party or by which
      it is bound; and

	 	 
	(x) 	
      the Subscriber acknowledges that it has been encouraged
      to and should obtain independent legal, income tax and investment advice
      with respect to its subscription for these Flow-Through Shares and
      accordingly, has been independently advised as to the meanings of all
      terms contained herein relevant to the Subscriber for purposes of giving
      representations, warranties and covenants under this Subscription
      Agreement.

Matters Relating to the Flow-Through Shares 

3.      In addition to other terms
defined herein, for the purposes of Sections 3, 4, 5 and 6 hereof, the following
words and phrases have the following meanings: 

	(a) 	
      "Act" means the Income Tax Act (Canada),
      together with any and all regulations promulgated thereunder, as amended
      from time to time;

	 	 
	(b) 	
      "Canadian Exploration Expense(s)" or "CEE"
      means Canadian exploration expense described in paragraph (f) of the
      definition of "Canadian exploration expense" in subsection 66.1(6) of the
      Act, excluding amounts which are prescribed to constitute "Canadian
      exploration and development overhead expense" as prescribed for the
      purposes of paragraph 66(12.6)(b) of the Act, the amount of any assistance
      described in paragraph 66(12.6)(a) of the Act and any expense described in
      paragraph 66(12.6)(b.1) of the Act;

13 

	(c) 	
      "Commitment Amount" means the amount equal to
      Cdn$6.00 multiplied by the number of Flow-Through Shares subscribed and
      paid for pursuant to this Subscription Agreement;

	 	 	 
	(d) 	
      "Expenditure Period" means the period commencing
      on the date of acceptance by the Corporation of this Subscription
      Agreement and ending on the earlier of:

	 	 	 
		(i) 	
      the date on which the Commitment Amount has been fully
      expended in accordance with the terms hereof; and

	 	 	 
		(ii) 	
      December 31, 2005;

	 	 	 
	(e) 	
      "Principal Business Corporation" means a
      principal-business corporation as defined in subsection 66(15) of the Act;
      and

	 	 	 
	(f) 	
      "Qualifying Expenditures" means expenses that are
      CEE on the date they are incurred.

4.      The Corporation hereby
represents and warrants to the Subscriber (on its own behalf and, if applicable,
on behalf of each person on whose behalf the Subscriber is contracting) and
acknowledges that the Subscriber is relying thereon that: 

	(a) 	
      the Corporation is validly subsisting under the federal
      laws of Canada, and is qualified to carry on business in each jurisdiction
      in respect of which the carrying on of the activities contemplated hereby
      make such qualification necessary;

	 	 
	(b) 	
      the Corporation has complied or will comply with all
      applicable corporate and securities laws applicable to it in connection
      with the offer, sale and issuance of the Flow-Through Shares to be
      purchased hereunder;

	 	 
	(c) 	
      upon acceptance by the Corporation, this Subscription
      Agreement shall constitute a binding obligation of the Corporation
      enforceable in accordance with its terms;

	 	 
	(d) 	
      the execution, delivery and performance of this
      Subscription Agreement by the Corporation, and the issue of the
      Flow-Through Shares, does not and will not constitute a breach of or
      default under the constating documents of the Corporation, or any law,
      regulation, order or ruling applicable to the Corporation, or any
      agreement to which the Corporation is a party or by which it is
    bound;

	 	 
	(e) 	
      the Corporation has the full corporate right, power and
      authority to enter into this Subscription Agreement, to issue the
      Flow-Through Shares and incur and renounce to the Subscriber, Qualifying
      Expenditures in an amount equal to the Commitment Amount;

	 	 
	(f) 	
      the incurring and renunciation of Qualifying Expenditures
      to the Subscriber pursuant hereto, does not and will not constitute a
      breach of or default under the constating documents of the Corporation or
      any law, regulation, order or ruling applicable to the Corporation or any
      agreement, contract or indenture to which the Corporation is a party or by
      which it is bound;

	 	 
	(g) 	
      the Corporation is, and at all material times will be, a
      Principal Business Corporation;

14 

	(h) 	
      except as a result of any agreement to which the
      Corporation is not a party and of which it has no knowledge, upon
      issuance, the Flow-Through Shares will be "flow-through shares" as defined
      in subsection 66(15) of the Act and will not constitute "prescribed
      shares" for the purpose of Regulation 6202.1 of the Act;

	 	 
	(i) 	
      the Corporation will not knowingly renounce any of the
      Qualifying Expenditures to a trust, corporation or partnership with whom
      the Corporation has a prohibited relationship as defined in subsection
      66(12.671) of the Act.

5.      The Corporation covenants and
agrees with the Subscriber (on its own behalf and, if applicable, on behalf of
each person on whose behalf the Subscriber is contracting): 

	(a) 	
      to keep proper books, records and accounts, including
      books, records and accounts of all Qualifying Expenditures and all
      transactions affecting the Commitment Amount and the Qualifying
      Expenditures;

	 	 
	(b) 	
      to incur, during the Expenditure Period, Qualifying
      Expenditures in such amount as enables the Corporation to renounce to the
      Subscriber in accordance with the Act and this Subscription Agreement,
      Qualifying Expenditures in an amount equal to the Commitment
  Amount;

	 	 
	(c) 	
      to renounce (in accordance with the provisions of
      subsections 66(12.6) and 66(12.66) of the Act and this Subscription
      Agreement) to the Subscriber, effective on or before December 31, 2004,
      Qualifying Expenditures incurred during the Expenditure Period in an
      amount equal to the Commitment Amount;

	 	 
	(d) 	
      to deliver to the Subscriber, not later than March 31,
      2005, a statement setting forth the aggregate amounts of such Qualifying
      Expenditures renounced to the Subscriber;

	 	 
	(e) 	
      that all Qualifying Expenditures renounced to the
      Subscriber pursuant to this Subscription Agreement will be Qualifying
      Expenditures incurred by the Corporation that, but for renunciation to the
      Subscriber hereunder, the Corporation would be entitled to deduct in
      computing its income for purposes of Part I of the Act;

	 	 
	(f) 	
      that the Corporation will not reduce the amount to be
      renounced hereunder to the Subscriber pursuant to subsection 66(12.6) of
      the Act and, in the event the Minister of National Revenue reduces the
      amount so renounced pursuant to subsection 66(12.73) of the Act, and as
      the sole recourse to the Subscriber for such reduction, 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 or that may
      become payable under the Act (and under any corresponding provincial
      legislation) by the Subscriber as a consequence of such
  reduction;

	 	 
	(g) 	
      that if the Corporation does not renounce to the
      Subscriber Qualifying Expenditures equal to the Commitment Amount
      effective on or before December 31, 2004, as the sole recourse to the
      Subscriber for such failure, 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 or that may become payable
      under the Act (and under any corresponding provincial legislation) by the
      Subscriber as a consequence of such failure;

15 

	(h) 	
      that the Corporation will maintain its status as a
      Principal Business Corporation until the earlier of: (i) December 31,
      2005; and (ii) the date on which the Corporation has incurred and
      renounced Qualifying Expenditures in an amount equal to the Commitment
      Amount;

	 	 
	(i) 	
      to timely file all forms required under the Act to
      renounce Qualifying Expenditures equal to the Commitment Amount to the
      Subscriber effective on or before December 31, 2004 and to provide the
      Subscriber with a copy of all such forms as are required to be provided
      thereon on a timely basis;

	(j) 	
      that the Corporation will not be subject to the
      provisions of subsection 66(12.67) of the Act in a manner which impairs
      its ability to renounce Qualifying Expenditures to the Subscriber in an
      amount equal to the Commitment Amount; and

	 	 
	(k) 	
      that the Corporation will refrain from entering into
      transactions or taking deductions which would otherwise reduce its
      cumulative CEE to an extent it would preclude a renunciation of Qualifying
      Expenditures hereunder in an amount equal to the Commitment Amount as
      contemplated herein.

	6. 	
      The Subscriber covenants, agrees and represents and
      warrants to the Corporation that:

	(a) 	
      the Subscriber or beneficial purchaser, as the case may
      be, deals and will at all relevant times continue to deal at arm's length
      with the Corporation, for purposes of the Act, until January 1,
    2006;

	 	 
	(b) 	
      if the Subscriber or beneficial purchaser, as the case
      may be, is a corporation, trust or partnership, it does not knowingly have
      and will not knowingly have in respect of a renunciation of Qualified
      Expenditures hereunder, a "prohibited relationship" with the Corporation
      within the meaning of subsection 66(12.671) of the Act;

	 	 
	(c) 	
      neither the Subscriber, nor the beneficial purchaser, as
      the case may be, will enter into any agreement or arrangement which will
      cause the Flow-Through Shares to become "prescribed shares" for purposes
      of the Act; and

	 	 
	(d) 	
      the Subscriber is not a non-resident of Canada for
      purposes of the Act.

Closing 

7.      The Subscriber agrees to
deliver to the Agent, not later than 5:00 p.m. (Ontario time) on the day that is
two business days before the Closing Date (as defined herein): (a) this duly
completed and executed Subscription Agreement; (b) if the Subscriber is an
"accredited investor" a fully executed and completed Representation Letter in
the form of Exhibit 1, in the case of a British Columbia or Alberta
subscriber, and in the form of Exhibit 2, in the case of an Ontario
subscriber; (c) a Private Placement Questionnaire and Letter of Undertaking in
the form of Exhibit 3; and (d) a certified cheque or bank draft payable
to Canaccord Capital Corporation for the Subscription Price of the Flow-Through
Shares subscribed for under this Subscription Agreement or payment of the same
amount in such other manner as is acceptable to the Agent. 

8.      The sale of the Flow-Through
Shares pursuant to this Subscription Agreement will be completed at the offices
of McCarthy Tétrault LLP, the Agent’s counsel, in Toronto, Ontario, at 12:00
noon, Toronto time or such other time as the Corporation and the Agent may agree
(the 

16 

"Closing Time") on 22 December 2004 or such other date
as the Corporation and the Agent may agree (the "Closing Date"). At the
Closing Time, the Agent shall deliver to the Corporation all completed
subscription agreements, including this Subscription Agreement, and the
aggregate subscription amount against delivery by the Corporation of
certificates representing the Flow-Through Shares. 

9.      The Corporation and the Agent
shall be entitled to rely on delivery of a facsimile copy of executed
subscriptions, and acceptance by the Corporation of such facsimile subscriptions
shall be legally effective to create a valid and binding agreement between the
Subscriber and the Corporation in accordance with the terms hereof. In addition,
this Subscription Agreement may be executed in counterparts, each of which shall
be deemed to be an original and all of which shall constitute one and the same
document. 

General 

10.     The Subscriber agrees that the
representations, warranties and covenants of the Subscriber herein will be true
and correct both as of the execution of this Subscription Agreement and as of
the Closing Time and will survive the completion of the issuance of the
Flow-Through Shares. The representations, warranties and covenants of the
Subscriber herein are made with the intent that they be relied upon by the
Corporation and the Agent in determining the eligibility of a purchaser of
Flow-Through Shares and the Subscriber agrees to indemnify the Corporation and
the Agent, including their affiliates, shareholders, directors, officers,
partners, employees, advisors and agents, against all losses, claims, costs,
expenses and damages or liabilities which any of them may suffer or incur which
are caused or arise from a breach thereof. The Subscriber undertakes to
immediately notify the Corporation at Kirkland Lake Gold Inc. (Fax Number: +604
681 4692), Suite 300, 570 Granville Street, Vancouver, British Columbia, Canada
V6C 3P1 and the Agent at Canaccord Capital Corporation, Suite 1210, 320 Bay
Street, Toronto, Ontario, M5H 4A6 (Fax Number: +416 869 7706), of any change in
any statement or other information relating to the Subscriber set forth herein
which takes place prior to the Closing Time. 

11.     The Subscriber acknowledges that
the Agent has agreed to offer the Flow-Through Shares on a "best-efforts" basis
and, in connection therewith, the Corporation and the Agent have entered into,
or will enter into prior to the Closing Date, an agreement (the "Agency
Agreement") pursuant to which the Agent, in connection with the issue and
sale of the Flow-Through Shares, will receive a fee from the Corporation. The
Subscriber hereby irrevocably authorizes Canaccord Capital Corporation: (a) to
act as its representative at the closing and to execute in its name and on its
behalf all closing receipts and documents required; (b) to complete or correct
any errors or omissions in any form or document provided by the Subscriber; (c)
to receive on its behalf certificates representing the Flow-Through Shares
purchased under this Subscription Agreement; (d) to approve any opinions,
certificates or other documents addressed to the Subscriber; (e) to waive, in
whole or in part, any representations, warranties, covenants or conditions for
the benefit of the Subscriber contained in the Agency Agreement; and (f) to
exercise any rights of termination contained in the Agency Agreement. 

12.     The Subscriber acknowledges and
agrees that all costs incurred by the Subscriber (including any fees and
disbursements of any special counsel retained by the Subscriber) relating to the
sale of the Flow-Through Shares to the Subscriber shall be borne by the
Subscriber. 

17 

13.     The contract arising out of this
Subscription Agreement and all documents relating thereto shall be governed by
and construed in accordance with the laws of the Province of Ontario and the
federal laws of Canada applicable therein. The parties irrevocably attorn to the
exclusive jurisdiction of the courts of the Province of Ontario. 

14.     Time shall be of the essence
hereof. 

15.     This Subscription Agreement
represents the entire agreement of the parties hereto relating to the subject
matter hereof and there are no representations, covenants or other agreements
relating to the subject matter hereof except as stated or referred to herein.

16.     The terms and provisions of this
Subscription Agreement shall be binding upon and enure to the benefit of the
Subscriber and the Corporation and their respective heirs, executors,
administrators, successors and assigns; provided that, except for the assignment
by a Subscriber who is acting as nominee or agent to the beneficial owner, this
Subscription Agreement shall not be assignable by any party without prior
written consent of the other parties. 

17.     The Subscriber, on its own behalf
and, if applicable, on behalf of others for whom it is contracting hereunder,
agrees that this subscription is made for valuable consideration and may not be
withdrawn, cancelled, terminated or revoked by the Subscriber, on its own behalf
and, if applicable, on behalf of others for whom it is contracting hereunder.

18.     Subject to paragraph 11, neither
this Subscription Agreement nor any provision hereof shall be modified, changed,
discharged or terminated except by an instrument in writing signed by the party
against whom any waiver, change, discharge or termination is sought. 

19.     The invalidity, illegality or
unenforceability of any provision of this Subscription Agreement shall not
affect the validity, legality or enforceability of any other provision hereof.

20.     The Subscriber acknowledges and
agrees that acceptance of this Subscription Agreement will be conditional, among
other things, upon the sale of Flow-Through Shares to the Subscriber being
exempt from any prospectus and offering memorandum requirements of all
applicable securities laws. The Corporation will be deemed to have accepted this
Subscription Agreement upon the delivery at the closing of the certificates
representing the Flow-Through Shares to or upon the direction of the Subscriber
in accordance with the provisions hereof. 

21.     The headings used in this
Subscription Agreement have been inserted for convenience of reference only and
shall not affect the meaning or interpretation of this Subscription Agreement or
any provision hereof. 

22.     In this Subscription Agreement
(including attachments), references to "$" or "Cdn. $" are to Canadian dollars.

18 

EXHIBIT 1 

REPRESENTATION LETTER 

(FOR BRITISH COLUMBIA AND ALBERTA ACCREDITED INVESTORS)

          TO:                Kirkland
Lake Gold Inc. (the
"Corporation") 
          AND
TO:      Canaccord Capital
Corporation (the "Agent") 

          In
connection with the agreement to purchase common shares in the capital of the
Corporation issued on a "flow-through" basis ("Flow-Through Shares") by
the undersigned subscriber or, if applicable, the principal on whose behalf the
undersigned is purchasing as agent (the "Subscriber" for the purposes of
this Exhibit 1), the Subscriber hereby represents, warrants, covenants and
certifies to the Corporation and the Agent that: 

I.     
the Subscriber is resident in British Columbia or Alberta or is subject
to the laws of the Province of British Columbia or Alberta; 

23. the Subscriber is purchasing the Flow-Through Shares as
principal for its own account or complies with the provisions of paragraph
2(g)(iii); 

24. the Subscriber is an "accredited investor" within the
meaning of Multilateral Instrument 45-103 entitled "Capital Raising Exemptions"
by virtue of satisfying the indicated criterion as set out in Appendix "A" to
this Representation Letter; and 

25. upon execution of this Representation Letter by the
Subscriber, this Representation Letter shall be incorporated into and form a
part of the Subscription Agreement. 

Dated: December ______, 2004 

Print name of Subscriber 

By: 

          Signature

          Print
name of Signatory (if different from Subscriber) 

          Title

IMPORTANT: PLEASE INITIAL APPENDIX "A" ON THE NEXT PAGE

19 

APPENDIX "A" 

PLEASE MARK YOUR INITIALS BESIDE THE CATEGORY OF "ACCREDITED
INVESTOR" TO WHICH YOU BELONG. 

Accredited Investor - (defined
in Multilateral Instrument 45-103) means: 

	_______	(a) 	
      a Canadian financial institution, or an authorized
      foreign bank listed in Schedule III of the Bank Act
  (Canada);

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

	 	 	 
	_______	(c) 	
      an association under the Cooperative Credit
      Associations Act (Canada) located in Canada or a central cooperative
      credit society for which an order has been made under subsection 473(1) of
      that Act;

	 	 	 
	_______	(d) 	
      a subsidiary of any person or company referred to in
      paragraphs (a) to (c), if the person or company owns all of the voting
      securities of the subsidiary, except the voting securities required by law
      to be owned by directors of that subsidiary;

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

	 	 	 
	_______	(f) 	
      an individual registered or formerly registered under the
      securities legislation of a jurisdiction of Canada, as a representative of
      a person or company referred to in paragraph (e);

	 	 	 
	_______	(g) 	
      the government of Canada or a jurisdiction of Canada, or
      any crown corporation, agency or wholly owned entity of the government of
      Canada or a jurisdiction of Canada;

	 	 	 
	_______	(h) 	
      a municipality, public board or commission in
    Canada;

	 	 	 
	_______	(i) 	
      any national, federal, state, provincial, territorial or
      municipal government of or in any foreign jurisdiction, or any agency of
      that government;

	 	 	 
	_______	(j) 	
      a pension fund that is regulated by either the Office of
      the Superintendent of Financial Institutions (Canada) or a pension
      commission or similar regulatory authority of a jurisdiction of
    Canada;

	 	 	 
	_______	(k) 	
      an individual who, either alone or with a spouse,
      beneficially owns, directly or indirectly, financial assets having an
      aggregate realizable value that before taxes, but net of any related
      liabilities, exceeds $1,000,000;

20 

	_______	(l) 	
      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;

	 	 	 
	_______	(m) 	
      a person or company, other than a mutual fund or
      non-redeemable investment fund, that, either alone or with a spouse, has
      net assets of at least $5,000,000, and unless the person or company is an
      individual, that amount is shown on its most recently prepared financial
      statements;

	 	 	 
	_______	(n) 	
      a mutual fund or non-redeemable investment fund that, in
      the local jurisdiction, distributes its securities only to persons or
      companies that are accredited investors;

	 	 	 
	_______	(o) 	
      a mutual fund or non-redeemable investment fund that, in
      the local jurisdiction, is distributing or has distributed its securities
      under one or more prospectuses for which the regulator has issued
      receipts;

	 	 	 
	_______	(p) 	
      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 jurisdiction of Canada
      or a foreign jurisdiction, trading as a trustee or agent on behalf of a
      fully managed account;

	 	 	 
	_______	(q) 	
      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 a jurisdiction of
      Canada or a foreign jurisdiction as a portfolio manager or under an
      equivalent category of adviser or is exempt from registration as a
      portfolio manager or the equivalent category of adviser;

	 	 	 
	_______	(r) 	
      a registered charity under the Income Tax Act
      (Canada) that, in regard to the trade, has obtained advice from an
      eligibility adviser or other adviser registered to provide advice on the
      securities being traded;

	 	 	 
	_______	(s) 	
      an entity organized in a foreign jurisdiction that is
      analogous to any of the entities referred to in paragraphs (a) through (e)
      and paragraph (j) in form and function; or

	 	 	 
	_______	(t) 	
      a person or company in respect of which all of the owners
      of interests, direct or indirect, legal or beneficial, except the voting
      securities required by law to be owned by directors, are persons or
      companies that are accredited investors.

          NOTE:
The investor must initial beside the applicable portion of the above
definition. 

          For
the purposes hereof: 

	A. 	
      "affiliate" means an issuer connected with another
      issuer because

	 	1. 	
      one of them is the subsidiary of the other,
  or

21 

	 	2. 	
      each of them is controlled by the same person or
      company;

	B. 	
      "beneficial ownership" of securities by a person
      occurs

	 	1. 	
      for the purposes of Saskatchewan, British Columbia, Nova
      Scotia, Newfoundland and Labrador and Prince Edward Island securities law,
      when such securities are beneficially owned by

	 	 	 	 
	 		a. 	
      an issuer controlled by that person; or

	 	 	 	 
	 		b. 	
      an affiliate of that person or an affiliate of an issuer
      controlled by that person;

	 	 	 	 
	 	2. 	
      for the purposes of Alberta securities law, when such
      securities are beneficially owned by

	 	 	 	 
	 		a. 	
      a company controlled by that person or an affiliate of
      that company,

	 	 	 	 
	 		b. 	
      an affiliate of that person, or

	 	 	 	 
	 		c. 	
      through a trustee, legal representative, agent or other
      intermediary of that person;

	C. 	
      "Canadian financial institution" means a bank,
      loan corporation, trust company, insurance company, treasury branch,
      credit union or caisse populaire that, in each case, is authorized to
      carry on business in Canada or a jurisdiction, or the Confédération des
      caisses populaires et d'économie Desjardins du Québec;

	 	 
	D. 	
      "director"

	 	1. 	
      means for the purpose of British Columbia securities law,
      a director of a corporation or an individual occupying or performing, with
      respect to a corporation or any other person, a similar position or
      similar functions;

	 	 	 
	 	2. 	
      includes for purposes of Alberta, Saskatchewan, Nova
      Scotia, Newfoundland and Labrador and Prince Edward Island securities law,
      a person acting in a capacity similar to that of a director of a company;
      and

	 	 	 
	 	3. 	
      for the purposes of Manitoba law, a person occupying the
      position of director by whatever name called;

	(u) 	
      "financial assets" means cash and
    securities;

	 	 	 
	(v) 	
      "foreign jurisdiction" means a country other than
      Canada or a political subdivision of a country other than
Canada;

	 	 	 
	(w) 	
      "founder", in respect of an issuer, means a person
      or company who,

	 	 	 
		(i) 	
      acting alone, in conjunction or in concert with one or
      more other persons or companies, directly or indirectly, takes the
      initiative in founding, organizing or substantially reorganizing the
      business of the issuer, and

22 

	 	(ii) 	
      at the time of the proposed trade, is actively involved
      in the business of the issuer;

	(x) 	
      "fully managed account" means an account for which
      a person or company makes the investment decisions if that person or
      company has full discretion to trade in securities for the account without
      requiring the client's express consent to a transaction;

	 	 	 
	(y) 	
      "jurisdiction" means a province or territory of
      Canada except when used in the term "foreign jurisdiction";

	 	 	 
	(z) 	
      "local jurisdiction" means the jurisdiction in
      which the applicable securities regulatory authority is situate;

	 	 	 
	(aa) 	
      "individual" means a natural person, but does not
      include

	 	 	 
		(i) 	
      a partnership, unincorporated association, unincorporated
      syndicate, unincorporated organization or a trust, or

	 	 	 
		(ii) 	
      a natural person in the person's capacity as trustee,
      executor, administrator or other legal representative;

	 	 	 
	(bb) 	
      "mutual fund" includes an issuer of securities
      that entitles the holder to receive on demand, or within a specified
      period after demand, an amount computed by reference to the value of a
      proportionate interest in the whole or in part of the net assets,
      including a separate fund or trust account, of the issuer of the
      securities;

	 	 	 
	(cc) 	
      "non-redeemable investment fund" means an
      issuer,

	 	 	 
		(i) 	
      where contributions of security holders are pooled for
      investment,

	 	 	 
		(ii) 	
      where security holders do not have day-to-day control
      over management and investment decisions of the issuer, whether or not
      they have the right to be consulted or to give directions, and

	 	 	 
		(iii) 	
      whose securities do not entitle the security holder to
      receive on demand, or within a specified period after demand, an amount
      computed by reference to the value of a proportionate interest in the
      whole or in part of the net assets of the issuer;

	 	 	 
	(dd) 	
      "person or company" includes

	 	 	 
		(i) 	
      for the purposes of British Columbia securities law, an
      individual, corporation, partnership, party, trust, fund, association and
      any other organized group of persons and the personal or other legal
      representative of a person to whom the context can apply according to
      law;

	 	 	 
		(ii) 	
      for the purposes of Alberta, Saskatchewan, Nova Scotia,
      Newfoundland and Labrador and Prince Edward Island, an individual,
      corporation, partnership, unincorporated or incorporated association,
      unincorporated or incorporated syndicate, unincorporated or incorporated
      organization, trust, trustee, executor, administrator or other legal
      representative; and

23 

	 	(iii) 	
      for the purposes of Manitoba securities law, an
      individual, corporation, partnership, unincorporated or incorporated
      association, unincorporated or incorporated syndicate, unincorporated or
      incorporated organization, unincorporated trust, trustee, executor,
      administrator and other legal personal
representative;

	(ee) 	
      "regulator" means

	 	 	 
		(i) 	
      the Executive Director, as defined under section 1 of the
      Securities Act (Alberta);

	 	 	 
		(ii) 	
      the Executive Director, as defined under section 1 of the
      Securities Act (British Columbia); and

	 	 	 
		(iii) 	
      such other person as is referred to in Appendix D of
      National Instrument 14-101 – Definitions;

	 	 	 
	(ff) 	
      "related liabilities" means:

	 	 	 
		(i) 	
      liabilities incurred or assumed for the purpose of
      financing the acquisition or ownership of financial assets; or

	 	 	 
		(ii) 	
      liabilities that are secured by financial
  assets;

	 	 	 
	(gg) 	
      "securities legislation" means

	 	 	 
		(i) 	
      for British Columbia, the Securities Act (British
      Columbia) and the regulations, rules and forms under such Act and the
      blanket rulings and orders issued by the British Columbia Securities
      Commission,

	 	 	 
		(ii) 	
      for Alberta, the Securities Act (Alberta) and the
      regulations and rules under such Act and the blanket rulings and orders
      issued by the Alberta Securities Commission, and

	 	 	 
		(iii) 	
      for other Canadian jurisdictions, such other statutes and
      instruments as are listed in Appendix B of National Instrument 14-101 –
      Mutual Funds – Definitions and Interpretation;

	 	 	 
	(hh) 	
      "securities regulatory authority" means

	 	 	 
		(i) 	
      the British Columbia Securities Commission;

	 	 	 
		(ii) 	
      the Alberta Securities Commission;

	 	 	 
		(iii) 	
      in respect of any local jurisdiction other than Alberta
      or British Columbia, means the securities commission or similar regulatory
      authority listed in Appendix C of National Instrument 14-101 –
      Definitions;

	 	 	 
	(ii) 	
      "voting security" means any security
  which:

	 	 	 
		(i) 	
      is not a debt security; and

24 

	 	(ii) 	
      carries a voting right either under all circumstances or
      under some contingency that has occurred and is
  continuing;

	(jj) 	
      An issuer is considered to be "controlled" by a
      person or company if:

	 	(i) 	
      for the purposes of British Columbia securities law,

      voting securities of the issuer are held, other than by
        way of security only, by or for the benefit of that person or company;
        and 

      the voting rights attached to those voting securities are
        entitled, if exercised, to elect a majority of the directors of the issuer;
        and 

	 	(ii) 	
      for the purposes of Alberta securities law,

      voting securities of the issuer carrying more than 50%
        of the votes that may be cast to elect directors are held, other than
        for the purpose of giving collateral for a bona fide debt, by or for the
        benefit of that person or company; and 

      the votes carried by the securities referred to in (a)
        are sufficient, if exercised, to elect a majority of the board of directors
        of the issuer; and 

      

BRITISH COLUMBIA SPECIFIC DEFINITIONS 

	(kk) 	
      "spouse", means, for the purpose of British
      Columbia securities law, a person who

	 	 	 
		(i) 	
      is married to another person and is not living separate
      and apart, within the meaning of the Divorce Act (Canada), from the other
      person, or

	 	 	 
		(ii) 	
      is living and cohabiting with another person in a
      marriage-like relationship, including a marriage-like relationship between
      persons of the same gender.

All monetary references are in Canadian Dollars. 

25 

EXHIBIT 2 

REPRESENTATION LETTER 

(FOR ONTARIO ACCREDITED INVESTORS) 

	 	TO: 	Kirkland Lake Gold Inc. (the
      "Corporation") 
	 	AND TO: 	Canaccord Capital Corporation. (the
      "Agent") 

          In
connection with the agreement to purchase common shares in the capital of the
Corporation issued on a "flow-through" basis ("Flow-Through Shares") by
the undersigned subscriber or, if applicable, the principal on whose behalf the
undersigned is purchasing as agent (the "Subscriber" for the purposes of
this Exhibit 2), the Subscriber hereby represents, warrants, covenants and
certifies to the Corporation and the Agent that: 

II.      The
Subscriber is resident in Ontario or is subject to the laws of the Province of
Ontario; 

26. The Subscriber is purchasing the Flow-Through Shares as
principal for its own account; 

27. The Subscriber is an "accredited investor" within the
meaning of Ontario Securities Commission Rule 45-501 promulgated under the
Securities Act (Ontario) by virtue of satisfying the indicated criterion
as set out in Appendix "A" to this Representation Letter; and 

28. Upon execution of this Representation Letter by the
Subscriber, this Representation Letter shall be incorporated into and form a
part of the Subscription Agreement. 

          Dated:
December ______, 2004 

Print name of Subscriber 

By: 

          Signature

          Print
name of Signatory (if different from Subscriber) 

          Title

IMPORTANT: PLEASE INITIAL APPENDIX "A" ON THE NEXT PAGE

26 

APPENDIX "A" 

          Accredited
Investor - (defined in Ontario Securities Commission Rule 45-501)
means: 

	_______	(a) 	
      a bank listed in Schedule I or II of the Bank Act
      (Canada), or an authorized foreign bank listed in Schedule III of the
      Bank Act (Canada);

	 	 	 
	_______	(b) 	
      the Business Development Bank incorporated under the
      Business Development Bank Act (Canada);

		 	 
	_______ 	(c) 	
      a loan corporation or trust corporation registered under
      the Loan and Trust Corporations Act (Ontario) or under the Trust
      and Loan Companies Act (Canada), or under comparable legislation in
      any other jurisdiction;

	 	 	 
	_______	(d) 	
      a co-operative credit society, credit union central,
      federation of caisse populaire, credit union or league, or regional caisse
      populaire, or an association under the Cooperative Credit Associations
      Act (Canada), in each case, located in Canada;

	 	 	 
	_______	(e) 	
      a company licensed to do business as an insurance company
      in any jurisdiction;

	 	 	 
	_______	(f) 	
      a subsidiary entity of any person or company referred to
      in paragraph (a), (b), (c), (d) or (e), where the person or company owns
      all of the voting shares of the subsidiary entity;

	 	 	 
	_______	(g) 	
      a person or company registered under the Securities
      Act (Ontario) or securities legislation in another jurisdiction as an
      adviser or dealer, other than a limited market dealer;

	 	 	 
	_______	(h) 	
      the government of Canada or of any jurisdiction, or any
      crown corporation, instrumentality or agency of a Canadian federal,
      provincial or territorial government;

	 	 	 
	_______	(i) 	
      any Canadian municipality or any Canadian provincial or
      territorial capital city;

	 	 	 
	_______	(j) 	
      any national, federal, state, provincial, territorial or
      municipal government of or in any foreign jurisdiction, or any
      instrumentality or agency thereof;

	 	 	 
	_______	(k) 	
      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;

	 	 	 
	_______	(l) 	
      a registered charity under the Income Tax Act
      (Canada);

	 	 	 
	_______	(m) 	
      an individual who beneficially owns, or who together with
      a spouse beneficially own, financial assets having an aggregate realizable
      value that, before taxes but net of any related liabilities, exceeds
      $1,000,000;

27 

	_______	(n) 	
      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 those
      years and who, in either case, has a reasonable expectation of exceeding
      the same net income level in the current year;

	 	 	 
	_______	(o) 	
      an individual who has been granted registration under the
      Securities Act (Ontario) or securities legislation in another
      jurisdiction as a representative of a person or company referred to in
      paragraph (g), whether or not the individual's registration is still in
      effect;

	 	 	 
	_______	(p) 	
      a promoter of the issuer or an affiliated entity of a
      promoter of the issuer;

	 	 	 
	_______	(q) 	
      a spouse, parent, brother, sister, grandparent or child
      of an officer, director or promoter of the issuer;

	 	 	 
	_______	(r) 	
      a person or company that, in relation to the issuer, 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);

	 	 	 
	_______	(s) 	
      an issuer that is acquiring securities of its own
      issue;

	 	 	 
	_______	(t) 	
      a company, limited liability company, 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 reflected in its most recently prepared financial
      statements;

	 	 	 
	_______	(u) 	
      a person or company that is recognized by the Ontario
      Securities Commission as an accredited investor in a discretionary order
      (a copy of which is attached);

	 	 	 
	_______	(v) 	
      a mutual fund or non-redeemable investment fund that, in
      Ontario, distributes its securities only to persons or companies that are
      accredited investors;

	 	 	 
	_______	(w) 	
      a mutual fund or non-redeemable investment fund that, in
      Ontario, distributes its securities under a prospectus for which a receipt
      has been granted by the Director (as defined in the Securities Act
      (Ontario)) or, if it has ceased distribution of its securities, has
      previously distributed its securities in this manner;

	 	 	 
	_______	(x) 	
      a fully managed account if it is acquiring a security
      that is not a security of a mutual fund or non-redeemable investment
      fund;

	 	 	 
	_______	(y) 	
      an account that is fully managed by a trust corporation
      registered under the Loan and Trust Corporations Act (Ontario) or
      under the Trust and Loan Companies Act (Canada), or under
      comparable legislation in any other
jurisdiction;

28 

	_______	(z) 	
      an entity organized outside of Canada that is analogous
      to any of the entities referred to in paragraphs (a) through (g) and
      paragraph (k) in form and function; or

	 	 	 
	_______	(aa) 	
      a person or company in respect of which all of the owners
      of interests, direct or indirect, legal or beneficial, are persons or
      companies that are accredited investors.

          NOTE:
The investor must initial beside the applicable portion of the above
definition. 

          For
the purposes hereof: 

	A. 	
      "company" means any corporation, incorporated
      association, incorporated syndicate or other incorporated
    organization;

	 	 	 
	B. 	
      "entity" means a company, syndicate, partnership,
      trust or unincorporated organization;

	 	 	 
	C. 	
      "financial assets" means cash, securities, or any
      contract of insurance or deposit or evidence thereof that is not a
      security for the purposes of the Securities Act
(Ontario);

	 	 	 
	D. 	
      "foreign jurisdiction" means a country other than
      Canada or a political subdivision of a country other than
Canada;

	 	 	 
	E. 	
      "jurisdiction" means a province or territory of
      Canada except when used in the term "foreign jurisdiction";

	 	 	 
	F. 	
      "managed account" means an investment portfolio
      account of a client established in writing with a portfolio adviser who
      makes investment decisions for the account and has full discretion to
      trade in securities of the account without requiring the client's express
      consent to a transaction;

	 	 	 
	G. 	
      "mutual fund" includes an issuer of securities
      that entitle the holder to receive on demand, or within a specified period
      after demand, an amount computed by reference to the value of a
      proportionate interest in the whole or in a part of the net assets,
      including a separate fund or trust account, of the issuer of the
      securities;

	 	 	 
	H. 	
      "non-redeemable investment fund" means an
      issuer

	 	 	 
		1. 	
      whose primary purpose is to invest money provided by its
      security holders;

	 	 	 
		2. 	
      that does not invest for the purpose of exercising
      effective control, seeking to exercise effective control, or being
      actively involved in the management of the issuers in which it invests,
      other than other mutual funds or non-redeemable investment funds;
    and

	 	 	 
		3. 	
      that is not a mutual fund;

	 	 	 
	I. 	
      "person" means an individual, partnership,
      unincorporated association, unincorporated syndicate, unincorporated
      organization, trust, trustee, executor, administrator, or other legal
      representative;

29 

	J. 	
      "portfolio adviser" means

	 	 	 	 
		1. 	
      a portfolio manager;

	 	 	 	 
		2. 	
      a broker or investment dealer exempted from registration
      as an adviser under subsection 148(1) of the regulation made under the
      Securities Act (Ontario) if that broker or investment dealer is not
      exempt from the by-laws or regulations of The Toronto Stock Exchange or
      the Investment Dealers' Association of Canada referred to in that
      subsection;

	 	 	 	 
	K. 	
      "related liabilities" means liabilities incurred
      or assumed for the purpose of financing the acquisition or ownership of
      financial assets and liabilities that are secured by financial
    assets;

	 	 	 	 
	L. 	
      "spouse", in relation to an individual, means
      another individual to whom that individual is married, or another
      individual of the opposite sex or the same sex with whom that individual
      is living in a conjugal relationship outside marriage;

	 	 	 	 
	M. 	
      In OSC Rule 45-501 a person or company is considered to
      be an affiliated entity of another person or company if one is a
      subsidiary entity of the other, or if both are subsidiary entities of the
      same person or company, or if each of them is controlled by the same
      person or company.

	 	 	 	 
	N. 	
      In OSC Rule 45-501 a person or company is considered to
      be controlled by a person or company if

	 	 	 	 
		1. 	
      in the case of a person or company,

	 	 	 	 
			a. 	
      voting securities of the first-mentioned person or
      company carrying more than 50 percent of the votes for the election of
      directors are held, otherwise than by way of security only, by or for the
      benefit of the other person or company, and

	 	 	 	 
			b. 	
      the votes carried by the securities are entitled, if
      exercised, to elect a majority of the directors of the first-mentioned
      person or company;

	 	 	 	 
		2. 	
      in the case of a partnership that does not have
      directors, other than a limited partnership, the second-mentioned person
      or company holds more than 50 percent of the interests in the partnership;
      or

	 	 	 	 
		3. 	
      in the case of a limited partnership, the general partner
      is the second-mentioned person or company.

	 	 	 	 
	O. 	
      In OSC Rule 45-501 a person or company is considered to
      be a subsidiary entity of another person or company if

	 	 	 	 
		1. 	
      it is controlled by,

	 	 	 	 
			a. 	
      that other, or

	 	 	 	 
			b. 	
      that other and one or more persons or companies each of
      which is controlled by that other, or

30 

	 	c. 	
      two or more persons or companies, each of which is
      controlled by that other, or

	 	2. 	
      it is subsidiary entity of a person or company that is
      the other's subsidiary entity.

All monetary references are in Canadian Dollars.

31

EXHIBIT 3 

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’ Common Shares

	 	 	 
		(c) 	
      Purchase Price:

	 	 	 
			
      CDN$ 6.00 each

	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 (insert “None” if none):

       

       

	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)?

32 

If so, state the capacity in which
the purchaser (or person named in response to 2(c)) qualifies as an insider:

No ______________  Yes
______________

If “Yes”, state capacity or nature
(director, senior officer, greater than 10% shareholder, etc.) of qualification
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:

No ______________  Yes
______________

If “Yes”, state the details of the
control by the same person or company: 

	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 (insert “None” if
      none):

ONT 

UNDERTAKING 

TO:      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 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 __________________________	 	 
	  	 	Name of Purchaser - please print 
	this _______ day of December, 2004 	 	
	  	 	  
	  	 	Authorized Signature 
	  	 	  
	  	 	  
	  	 	  
	  	 	Official Capacity - please print 
	  	 	  
	  	 	  
	  	 	  
			
      Please print here the name of the individual whose
      signature appears above, if different from name of purchase printed above.Filed by Automated Filing Services Inc. (604) 609-0244 - Kirkland Lake Gold Inc. - Exhibit 4.24

The securities to which this agreement relate have not been
registered under the United States Securities Act of 1933,
as amended, or any state securities laws, and such securities may not be offered
or resold in the United States of America or to U.S. Persons (as defined herein)
without registration under such Act and any applicable state securities laws,
unless an exemption from registration is available.

PRIVATE PLACEMENT SUBSCRIPTION
AGREEMENT

TO:      KIRKLAND LAKE GOLD INC.
(the “Company”)

Re: Purchase of securities of the Company

Details of Subscription: The undersigned (the
“Subscriber”) hereby irrevocably subscribes for and agrees to purchase
from the Company, on the terms and conditions set forth herein and in the
attached schedules, that number of units of the Company (“Units”) set out
below at a price of CDN$ 4.00 per Unit. Each Unit shall consist of one common
share of the Company (a “Share”) and one-half of one non-transferable
share purchase warrant (each whole warrant being a “Warrant”). Each
Warrant shall entitle the Subscriber to purchase one Share for a period of nine
months at a price of CDN$ 4.60 per Share. The securities subscribed for
in this Agreement form part of a larger private placement (the “Private
Placement”) of an aggregate of up to 1,250,000 Units.

	Number to be purchased: 	_______________________________________________________Units
    
	 	 
	Total Subscription Price: 	CDN$
      __________________________________________________
	(CDN$ 4.00 per Unit) 	              
      (In BC and AB the minimum is CDN$ 97,000 unless the 
	  	              
      Subscriber is an accredited investor or a close personal friend, 
	  	              
      close business associate or relative of or is a director or senior 
	  	              
      officer of the Company) 
	 	 
	Name of Subscriber: 	  
	  	  
	Address: 	_______________________________________________________
		(Street Address) 
	 	 
	 	_______________________________________________________
	  	(City and Province or State) 
	 	 
	 	_______________________________________________________
	  	(Country and Postal or Zip Code) 
	 	 
	 	_______________________________________________________
	  	(Telephone Number) 
	 	 
	 	_______________________________________________________
		(e-mail Address)

-2-

If the Subscriber is purchasing as an agent and is not
purchasing the Units for its own account or one or more accounts that are fully
managed by it but is purchasing them on behalf of certain principals for which
it is acting as agent, then each such principal is described below:

	Name:     
      _____________________________________	Name:     
      ______________________________________
	 	 
	Address:
    _____________________________________	Address:
      ______________________________________
	                 
       (Street Address) 	             
           (Street Address) 
	 
    	  
	           
           _____________________________________	                 
      ______________________________________
	                 
       (City and Province / State) 	             
           (City and Province / State) 
	 	 
	                 
      _____________________________________	                 
      ______________________________________ 
	                 
       (Country and Postal / Zip Code) 	             
           (Country and Postal / Zip Code)

	Complete the following registration and
      delivery instructions, if applicable. 
	Registration Instructions: 
If the certificate(s)
      representing the securities are to be registered 
in other than the
      name of the Subscriber.
      

Name:      
      _____________________________________

Address:
      ______________________________________
                 
      (Street
      Address) 
                 
      _____________________________________

                 
      _____________________________________
                 
      (City and Province /
      State) 

                 
      _____________________________________
                 
      (Country and Postal / Zip Code) 

	Delivery Instructions: 
If the
      certificate(s) representing the securities are to be delivered to someone
      other than the Subscriber.
      

Name:     
      _____________________________________

Contact Name:
      _________________________________

Telephone No.:
      _________________________________

Address:
      ______________________________________
                 
      (Street
      Address) 
                 
      _____________________________________

                 
      _____________________________________
                 
      (City and Province /
      State) 

                 
      _____________________________________
                 
      (Country and Postal / Zip Code) 

  IN WITNESS WHEREOF the Subscriber has executed, or
    caused its duly authorized representative to execute, this Agreement as of
    the 

    ______ day of ______________________, 2005

	 	 	 	 
	Signature of Subscriber (if an individual) 	 	 	Name of Subscriber (if not an individual)

	 	 	 	 
	 	 	 	 
	  	 	Per: 	
	Name of Subscriber (if an individual) 	 	 	(signature of authorized representative) 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	  	 	 	Name & Title of Authorized Representative
    

-3-

1.2.      Subscribers must also
complete and sign

	
  Schedule I (TSX Private Placement Questionnaire and Letter of
  Undertaking) 

  
	
  Schedule II (Confirmation of Relationship), if the Subscriber is NOT an
  accredited investor but is a director, senior officer or control person
  of the Company or a close personal friend, close business associate,
  spouse, parent, grandparent, sibling or child of a director, senior
  officer or control person of the Company resident in British Columbia
  or Alberta 

  
	
  Schedule III (BC or Alberta Accredited Investor Confirmation), if the
  Subscriber is an accredited investor resident in British Columbia or
  Alberta 

  
	
  Schedule IV (Ontario Accredited Investor Confirmation), if the
  Subscriber is an accredited investor resident in Ontario 

  
	
  Schedule V (Confirmation by US Subscribers), if the Subscriber is
  resident in the United States of America 

ACCEPTANCE

The foregoing is accepted and agreed to as of the
___________day of _________________________________, 2005 

KIRKLAND LAKE GOLD INC.

Per: 
______________________________
        
Authorized Signatory

SCHEDULE I

Form P1

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:

__________Units, each Unit consisting
of one common share and one-half of a share purchase warrant to purchase a
further share

	 	(c) 	
      Purchase Price:

	 	 	 
	 		
      CDN$ 4.00 each

	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 (insert “None” if
    none):

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

I - 2

	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:

No_______________   Yes
_______________

If “Yes”, state capacity or nature
(director, senior officer, greater than 10% shareholder, etc.) of qualification
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:

	 	 	 
	 	 	
      No_______________   Yes _______________

      If “Yes”, state the details of the control by the same
      person or company:

	 	 	 
	 	 	 

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 (insert “None”
if none):

 

UNDERTAKING

TO:      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 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.

I - 3

	DATED at ________________________________	 	 
	  	 	Name of Purchaser - please print 
	this day of ______________, 2005 	 	
	  	 	  
	  	 	Authorized Signature 
	  	 	  
	  	 	  
	  	 	  
	  	 	Official Capacity - please print 
	  	 	  
	  	 	  
	  	 	  
			
      Please print here the name of the individual whose
      signature appears above, if different from name of purchase printed above.
      

SCHEDULE II

CONFIRMATION OF RELATIONSHIP 
(For Subscribers who are NOT
accredited investors 
but ARE Directors, Senior Officers, Control Persons and
Founders 
or their Close Personal Friends, Close Business Associates and
Relatives resident 
in British Columbia or Alberta)

The Subscriber represents and warrants to the Company that the
Subscriber has read the following definitions from Multilateral Instrument
45-103 Capital Raising Exemptions and certifies that the Subscriber has
the relationship(s) to the Company or its directors, senior officers or control
persons by virtue of the Subscriber being: 

(initial one or more as applicable)

	_______	(a) 	
      a director, senior officer or control person of the
      Company, or of an affiliate of the Company;

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

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

	 	 	 
	_______	(d) 	
      a close personal friend of a director, senior officer or
      control person of the Company, or of an affiliate of the
Company;

	 	 	 
	_______	(e) 	
      a close business associate of a director, senior officer
      or control person of the Company, or of an affiliate of the
  Company;

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

	 	 	 
	_______	(g) 	
      a parent, grandparent, brother, sister, child of the
      spouse of a founder of the Company;

	 	 	 
	_______	(h) 	
      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 (a) to (g); or

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

and if (b), (c), (d), (e), (f), (g), (h) or (i) is initialled
the director, senior officer, control person or founder is:

___________________________________________________________
(Print
name of director, senior officer, control person or founder)

II - 2

The foregoing representations and warranties are true an
accurate as of the date of this certificate and will be true and accurate as of
Closing. If any such representations and warranties shall not be true and
accurate prior to Closing, the Subscriber shall give immediate written notice of
such fact to the Company.

For the purposes hereof, the following definitions are included
for convenience: 

	(a) 	 “close business associate” means an
        individual who has had sufficient prior business dealings with the director,
        senior officer or control person to be in a position to assess the capabilities
        and trustworthiness of the director, senior officer or control person.

	 	 
		 A casual business associate or a person introduced or
        solicited for the purpose of purchasing securities is not a close business
        associate. An individual is not a close business associate solely because
        the individual is a client or former client. For example, an individual
        is not a close business associate of a registrant or former registrant
        solely because the individual is a client or former client of that registrant
        or former registrant.

	 	 
		 The relationship between the Subscriber and the director,
        senior officer or control person must be direct. For example, the exemption
        is not available for a close business associate of a close business associate
        of a director, senior officer or control person.

	 	 
	(b) 	 “close personal friend” means an individual
        who has known the director, senior officer or control person for a sufficient
        period of time to be in a position to assess the capabilities and trustworthiness
        of the director, senior officer or control person.

	 	 
		 An individual is not a close personal friend solely
        because

		 
		 	
        the individual is a member of the same organization, association or
          religious group, or 

            

      
	
          the individual is a client or former client. 

        

		 

		
      The relationship between the Subscriber and the director,
      senior officer or control person must be direct. For example, the
      exemption is not available for a close personal friend of a close personal
      friend of the director, senior officer or control person.

	 	 
	(c) 	
      “company” means any corporation, incorporated
      association, incorporated syndicate or other incorporated
    organization.

	 	 
	(d) 	
      “control person” means

	 	(i) 	
      a person who holds a sufficient number of the voting
      rights attached to all outstanding voting securities of the Company to
      affect materially the control of the Company, or

	 	 	 
	 	(ii) 	
      each person in a combination of persons, acting in
      concert by virtue of an agreement, arrangement, commitment or
      understanding, which holds in total a sufficient
number

II - 3

of the voting rights attached to all
outstanding voting securities of the Company to affect materially the control of
the Company

and, if a person or combination of
persons holds more than 20% of the voting rights attached to all outstanding
voting securities of the Company, the person or combination of persons is
deemed, in the absence of evidence to the contrary, to hold a sufficient number
of the voting rights to affect materially the control of the Company.

	(e) 	
      “founder” means a person or company who,

	 	 	 
		(i) 	
      acting alone, in conjunction or in concert with one or
      more other persons or companies, directly or indirectly, takes the
      initiative in founding, organizing or substantially reorganizing the
      business of the Company, and

	 	 	 
		(ii) 	
      at the time of the proposed trade, is actively involved
      in the business of the Company.

	 	 	 
	(f) 	
      “person” means an individual, partnership,
      unincorporated association, unincorporated syndicate, unincorporated
      organization, trust, trustee, executor, administrator or other legal
      representative.

	 	 	 
	(g) 	
      “spouse” means, in relation to an individual,
      another individual to whom that individual is married, or another
      individual of the opposite sex or the same sex with whom that individual
      is living in a conjugal relationship outside
marriage.

DATED at _________________________________on
________________________________________, 2005

	 	 
	 	Name of Subscriber - please print 
	 	 
	 	 
	 	Authorized Signature 
	 	 
	 	 
	 	Official Capacity - please print 
	 	 
	 	 
	 	Please print name of individual whose signature
      appears above, if different from name of Subscriber printed above
  

SCHEDULE III

ACCREDITED INVESTOR CONFIRMATION
 ( For accredited
investors resident 
in British Columbia or Alberta)

The Subscriber represents and warrants to the Company that the
Subscriber has read the following definition of an “accredited investor”
from Multilateral Instrument 45-103 Capital Raising Exemptions and
certifies that the Subscriber is an accredited investor by virtue of falling
into one or more of the categories indicated below: 

(initial as applicable)

	_______	(a) 	
      a Canadian financial institution, or an authorized
      foreign bank listed in Schedule III of the Bank Act
  (Canada);

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

	 	 	 
	_______	(c) 	
      an association under the Cooperative Credit
      Associations Act (Canada) located in Canada or a central cooperative
      credit society for which an order has been made under subsection 473(1) of
      that Act;

	 	 	 
	_______	(d) 	
      a subsidiary of any person or company referred to in
      paragraphs (a) to (c), if the person or company owns all of the voting
      securities of the subsidiary, except the voting securities required by law
      to be owned by directors of that subsidiary;

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

	 	 	 
	_______	(f) 	
      an individual registered or formerly registered under the
      securities legislation of a jurisdiction of Canada, as a representative of
      a person or company referred to in paragraph (e);

	 	 	 
	_______	(g) 	
      the government of Canada or a jurisdiction of Canada, or
      any crown corporation, agency or wholly-owned entity of the government of
      Canada or a jurisdiction of Canada;

	 	 	 
	_______	(h) 	
      a municipality, public board or commission in
    Canada;

	 	 	 
	_______	(i) 	
      any national, federal, state, provincial, territorial or
      municipal government of or in any foreign jurisdiction, or any agency of
      that government;

	 	 	 
	_______	(j) 	
      a pension fund that is regulated by either the Office of
      the Superintendent of Financial Institutions (Canada) or a pension
      commission or similar regulatory authority of a jurisdiction of
    Canada;

III - 2

	_______	(k) 	
      an individual who, either alone or jointly with a spouse,
      beneficially owns, directly or indirectly, financial assets having an
      aggregate realizable value that before taxes, but net of any related
      liabilities, exceeds CDN$ 1,000,000;

	 	 	 
	_______	(l) 	
      an individual whose net income before taxes exceeded CDN$
      200,000 in each of the two most recent years or whose net income before
      taxes combined with that of a spouse exceeded CDN$ 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;

	 	 	 
	_______	(m) 	
      a person or company, other than a mutual fund or
      non-redeemable investment fund, that, either alone, or with a spouse, had
      net assets of at least CDN$ 5,000,000, and unless the person or company is
      an individual, that amount is shown on its most recently prepared
      financial statements;

	 	 	 
	_______	(n) 	
      a mutual fund or non-redeemable investment fund that, in
      the local jurisdiction, distributes its securities only to persons or
      companies that are accredited investors;

	 	 	 
	_______	(o) 	
      a mutual fund or non-redeemable investment fund that, in
      the local jurisdiction, is distributing or has distributed its securities
      under one or more prospectuses for which the regulator has issued
      receipts;

	 	 	 
	_______	(p) 	
      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 jurisdiction of Canada
      or a foreign jurisdiction, trading as a trustee or agent on behalf of a
      fully managed account;

	 	 	 
	_______	(q) 	
      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 a jurisdiction of
      Canada or a foreign jurisdiction as a portfolio manager or under an
      equivalent category of adviser or is exempt from registration as a
      portfolio manager or the equivalent category of adviser;

	 	 	 
	_______	(r) 	
      a registered charity under the Income Tax Act
      (Canada)that, in regard to the trade, has obtained advice from an
      eligibility adviser or other adviser registered to provide advice on the
      securities being traded;

	 	 	 
	_______	(s) 	
      an entity organized in a foreign jurisdiction that is
      analogous to any of the entities referred to in paragraphs (a) through (e)
      and paragraph (j) in form and function; or

	 	 	 
	_______	(t) 	
      a person or company in respect of which all of the owners
      of interests, direct or indirect, legal or beneficial, except the voting
      securities required by law to be owned by directors, are persons or
      companies that are accredited investors.

The foregoing representations and warranties are true an
accurate as of the date of this certificate and will be true and accurate as of
Closing. If any such representations and warranties shall not be

III - 3

true and accurate prior to Closing, the Subscriber shall give
immediate written notice of such fact to the Company.

For the purposes hereof, the following definitions are included
for convenience:  

	(a) 	
      “company” means any corporation, incorporated
      association, incorporated syndicate or other incorporated
    organization.

	 	 	 
	(b) 	
      “entity” means a company, syndicate, partnership,
      trust or unincorporated organization.

	 	 	 
	(c) 	
      “financial assets” means cash and
    securities.

	 	 	 
	(d) 	
      “fully managed account” means an account for which
      a person or company makes the investment decisions if that person or
      company has full discretion to trade in securities for the account without
      requiring the client’s express consent to a transaction;

	 	 	 
	(e) 	
      “mutual fund” includes an issuer of securities
      that entitle the holder to receive on demand, or within a specified period
      after demand, an amount computed by reference to the value of a
      proportionate interest in the whole or in a part of the net assets,
      including a separate fund or trust account, of the issuer of
      securities.

	 	 	 
	(f) 	
      “non-redeemable investment fund” means an
      issuer:

	 	 	 
		
      (i) 
	whose primary purpose is to invest money
      provided by its securityholders;
	 	 	 
		
      (ii) 
	
      that does not invest for the purpose of exercising
      effective control, seeking to exercise effective control, or being
      actively involved in the management of the issuers in which it invests,
      other than other mutual funds or non-redeemable investment funds;
    and

	 	 	 
		
      (ii) 
	that is not a mutual fund.
	 	 	 
	(g) 	
      “person” means an individual, partnership,
      unincorporated association, unincorporated syndicate, unincorporated
      organization, trust, trustee, executor, administrator or other legal
      representative.

	 	 	 
	(h) 	
      “related liabilities” means liabilities incurred
      or assumed for the purpose of financing the acquisition or ownership of
      financial assets and liabilities that are secured by financial
    assets.

	 	 	 
	(i) 	
      “spouse” means, in relation to an individual,
      another individual to whom that individual is married, or another
      individual of the opposite sex or the same sex with whom that individual
      is living in a conjugal relationship outside
marriage.

III - 4

In Multilateral Instrument 45-103 a person or company is
considered to be 

	 	

	 an “affiliated entity” of
        another person or company if one is a subsidiary entity of the other,
        or if both are subsidiary entities of the same person or company, or if
        each of them is controlled by the same person or company.

	 	 	 	 
	 	

	 “controlled” by a person
        or company if,

	 	 	 	 
		(a) 	 in the case of a person or company,

	 	 	 	 
			(i) 	 voting securities of the first-mentioned person or company
        carrying more than 50% of the votes for the election of directors are
        held, otherwise than by way of securities only, by or for the benefit
        of the other person or company; and

	 	 	 	 
			(ii) 	 the votes carried by the securities are entitled, if
        exercised, to elect a majority of the directors of the first-mentioned
        person or company;

	 	 	 	 
		(b) 	 in the case of a partnership that does not
        have directors, other than a limited partnership, the second-mentioned
        person or company holds more than 50% of the interests in the partnership;
        or

	 	 	 	 
		(c) 	 in the case of a limited partnership, the
        general partner is the second-mentioned person or company.

	 	 	 	 
	 	

	 a “subsidiary entity” of
        another person or company if:

	 	 	 	 
		(a) 	 it is controlled by,

	 	 	 	 
			(i) 	 that other, or

	 	 	 	 
			(ii) 	 that other and one or more persons or companies each
        of which is controlled by that other, or

	 	 	 	 
			(iii) 	 two or more persons or companies, each of which is controlled
        by that, or

III - 5

	 	(b) 	
      it is a subsidiary entity of a person or company that is
      the other’s subsidiary entity.

DATED at ________________________________ on
__________________________________________, 2005

	 	 
	 	Name of Subscriber - please print 
	 	 
	 	 
	 	Authorized Signature 
	 	 
	 	 
	 	Official Capacity - please print 
	 	 
	 	 
	 	Please print name of individual whose signature
      appears above, if different from name of Subscriber printed above
  

SCHEDULE IV

ACCREDITED INVESTOR CONFIRMATION 
(For accredited
investors resident in Ontario)

The Subscriber represents and warrants that the Subscriber has
read the following definition of an “accredited investor” from Ontario
Securities Commission Rule 45-501 Exempt Distributions and certifies that
the Subscriber is an accredited investor by virtue of falling into one or more
of the categories as indicated below:

(initial as applicable)

	_______	(a) 	
      a bank listed in Schedule I or II of the Bank Act
      (Canada), or an authorized foreign bank listed in Schedule III of that
      Act;

	 	 	 
	_______	(b) 	
      the Business Development Bank incorporated under the
      Business Development Bank Act (Canada);

	 	 	 
	_______	(c) 	
      a loan corporation or trust corporation registered under
      the Loan and Trust Corporations Act or under the Trust and Loan
      Companies Act (Canada), or under comparable legislation in any other
      jurisdiction;

	 	 	 
	_______	(d) 	
      a co-operative credit society, credit union central,
      federation of caisses 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;

	 	 	 
	_______	(e) 	
      a company licensed to do business as an insurance company
      in any jurisdiction;

	 	 	 
	_______	(f) 	
      a subsidiary of any company referred to in paragraph (a),
      (b), (c), (d) or (e), where the company owns all of the voting shares of
      the subsidiary;

	 	 	 
	_______	(g) 	
      a person or company registered under the Securities
      Act (Ontario) or securities legislation in another jurisdiction as an
      adviser or dealer, other than a limited market dealer;

	 	 	 
	_______	(h) 	
      the government of Canada or of any jurisdiction, or any
      crown corporation, instrumentality or agency of a Canadian federal,
      provincial or territorial government;

	 	 	 
	_______	(i) 	
      any Canadian municipality or any Canadian provincial or
      territorial capital city;

	 	 	 
	_______	(j) 	
      any national, federal, state, provincial, territorial or
      municipal government of or in any foreign jurisdiction, or any
      instrumentality or agency thereof;

	 	 	 
	_______	(k) 	
      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;

	 	 	 
	_______	(l) 	
      a registered charity under the Income Tax Act
      (Canada);

IV - 2

	_______	(m) 	
      an individual who beneficially owns, or who together with
      a spouse beneficially own, financial assets having an aggregate realizable
      value that, before taxes but net of any related liabilities, exceeds CDN$
      1,000,000;

	 	 	 
	_______	(n) 	
      an individual whose net income before taxes exceeded CDN$
      200,000 in each of the two most recent years or whose net income before
      taxes combined with that of a spouse exceeded CDN$ 300,000 in each of
      those years and who, in either case, has a reasonable expectation of
      exceeding the same net income level in the current year;

	 	 	 
	_______	(o) 	
      an individual who has been granted registration under the
      Securities Act (Ontario) or securities legislation in another
      jurisdiction as a representative of a person or company referred to in
      paragraph (g), whether or not the individual 's registration is still in
      effect;

	 	 	 
	_______	(p) 	
      a promoter of the Company or an affiliated entity of a
      promoter of the Company;

	 	 	 
	_______	(q) 	
      a spouse, parent, grandparent or child of an officer,
      director or promoter of the Company;

	 	 	 
	_______	(r) 	
      a person or company that, in relation to the Company, 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);

	 	 	 
	_______	(s) 	
      an issuer that is acquiring securities of its own
      issue;

	 	 	 
	_______	(t) 	
      a company, limited liability company, 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 CDN$ 5,000,000 as reflected in its most recently prepared financial
      statements;

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

	 	 	 
	_______	(v) 	
      a mutual fund or non-redeemable investment fund that, in
      Ontario, distributes its securities only to persons or companies that are
      accredited investors;

	 	 	 
	_______	(w) 	
      a mutual fund or non-redeemable investment fund that, in
      Ontario, distributes its securities under a prospectus for which a receipt
      has been granted by the Director of the Ontario Securities Commission or
      if it has ceased distribution of its securities, has previously
      distributed securities in this manner;

	 	 	 
	_______	(x) 	
      a fully managed account if it is acquiring a security
      that is not a security of a mutual fund or non-redeemable investment
      fund;

	 	 	 
	_______	(y) 	
      an account that is fully managed by a trust corporation
      registered under the Loan and Trust Corporations Act (Ontario) or
      under the Trust and Loan Companies Act (Canada) or under comparable
      legislation in any other jurisdiction;

IV - 3

	_______	(z) 	
      an entity organized outside of Canada that is analogous
      to any of the entities referred to in paragraphs (a) through (g) and
      paragraph (k) in form and function; or

	 	 	 
	_______	(aa) 	
      a person or company in respect of which all of the owners
      of interests, direct or indirect, legal or beneficial, are persons or
      companies that are accredited investors.

The foregoing representations and warranties are true an
accurate as of the date of this certificate and will be true and accurate as of
Closing. If any such representations and warranties shall not be true and
accurate prior to Closing, the Subscriber shall give immediate written notice of
such fact to the Company.

For the purposes hereof, the following definitions are included
for convenience: 

	(a) 	
      “company” means any corporation, incorporated
      association, incorporated syndicate or other incorporated
    organization;

	 	 	 
	(b) 	
      “entity” means a company, syndicate, partnership,
      trust or unincorporated organization;

	 	 	 
	(c) 	
      “financial assets” means cash, securities, or any
      contract of insurance or deposit or evidence thereof that is not a
      security for the purposes of the Securities Act
(Ontario);

	 	 	 
	(d) 	
      “managed account” means an investment portfolio
      account of a client established in writing with a portfolio adviser who
      makes investment decisions for the account and has full discretion to
      trade in securities of the account without requiring the client’s express
      consent to a transaction;

	 	 	 
	(e) 	
      “mutual fund” includes an issuer of securities
      that entitle the holder to receive on demand, or within a specified period
      after demand, an amount computed by reference to the value of a
      proportionate interest in the whole or in a part of the net assets,
      including a separate fund or trust account, of the issuer of
      securities;

	 	 	 
	(f) 	
      “non-redeemable investment fund” means an
      issuer:

	 	 	 
		
      (i)
	
      whose primary purpose is to invest money provided by its
      securityholders;

	 	 	
       

		
      (ii) 
	
      that does not invest for the purpose of exercising
      effective control, seeking to exercise effective control, or being
      actively involved in the management of the issuers in which it invests,
      other than other mutual funds or non-redeemable investment funds;
    and

	 	 	
       

		
      (ii) 
	
      that is not a mutual fund;

	 	 	 
	(g) 	
      “person” means an individual, partnership,
      unincorporated association, unincorporated syndicate, unincorporated
      organization, trust, trustee, executor, administrator or other legal
      representative;

	 	 	 
	(h) 	
      “portfolio adviser”
means:

IV - 4

	 	(i) 	
      a portfolio manager;

	 	 	 
	 	(ii) 	
      a broker or investment dealer exempted from registration
      as an adviser under subsection 148(1) of the regulation made under the
      Securities Act (Ontario) if that broker or investment dealer is not
      exempt from the by-laws or regulations of The Toronto Stock Exchange or
      the Investment Dealers’ Association of Canada referred to in that
      subsection;

	(i) 	
      “related liabilities” means liabilities incurred
      or assumed for the purpose of financing the acquisition or ownership of
      financial assets and liabilities that are secured by financial
    assets;

	 	 
	(j) 	
      “spouse”, in relation to an individual, means
      another individual to whom that individual is married, or another
      individual of the opposite sex or the same sex with whom that individual
      is living in a conjugal relationship outside
marriage;

In Ontario Securities Commission Rule 45-501 a person or
company is considered to be an affiliated entity of another person or company if
one is a subsidiary entity of the other, or if both are subsidiary entities of
the same person or company, or if each of them is controlled by the same person
or company.

In Ontario Securities Commission Rule 45-501 a person or
company is considered to be 

	 	

	 “controlled” by a person
        or company if,

	 	 	 	 
		(a) 	 in the case of a person or company,

	 	 	 	 
			(i) 	 voting securities of the first-mentioned person or company
        carrying more than 50 percent of the votes for the election of directors
        are held, otherwise than by way of securities only, by or for the benefit
        of the other person or company; and

	 	 	 	 
			(ii) 	 the votes carried by the securities are entitled, if
        exercised, to elect a majority of the directors of the first-mentioned
        person or company;

	 	(b) 	
      in the case of a partnership that does not have
      directors, other than a limited partnership, the second-mentioned person
      or company holds more than 50 percent of the interests in the partnership;
      or

	 	 	 
	 	(c) 	
      in the case of a limited partnership, the general partner
      is the second-mentioned person or company.

	 	

	 a “subsidiary entity” of
        another person or company if:

	 	 	 	 
		(a) 	 it is controlled by,

	 	 	 	 
			(i) 	 that other, or

	 	 	 	 
			(ii) 	 that other and one or more persons or companies each
        of which is controlled by that other, or

IV - 5

	 	(iii) 	
      two or more persons or companies, each of which is
      controlled by that, or

	 	(b) 	
      it is a subsidiary entity of a person or company that is
      the other’s subsidiary entity.

DATED at ________________________________ on
_____________________________________, 2005

	 	 
	 	Name of Subscriber - please print 
	 	 
	 	 
	 	Authorized Signature 
	 	 
	 	 
	 	Official Capacity - please print 
	 	 
	 	 
	 	
      Please print name of individual whose signature appears
      above, if different from name of Subscriber printed above
  

SCHEDULE V

CONFIRMATION BY US SUBSCRIBERS 
(For Subscribers resident
in the United States of America)

The Subscriber hereby represents and warrants to the Company
that the Subscriber:

(initial as applicable)

	
      _______ 
	
      was not offered the Units and did not execute this
      Agreement in the United States of America (a “Reg S Subscriber”);
      

- or -

	_______ 	
      was offered the Units or executed this Agreement in the
      United States of America and is an Accredited Investor, as defined in Rule
      501(a) of Regulation D of the Securities Act of 1933 (United
      States), (a “Rule 506 Subscriber”) by virtue of satisfying one or
      more of the categories indicated below: 

	 	
       

	 	
      (initial as applicable)

	 	_______	(a) 	
      An organization described in section 501(c)(3) of the
      United States Internal Revenue Code, a corporation, a Massachusetts or
      similar business trust or partnership, not formed for the specific purpose
      of acquiring the Units, with total assets in excess of US$
    5,000,000;

	 	 	 	 
	 	_______	(b) 	
      A natural person whose individual net worth, or joint net
      worth with that person’s spouse, at the date hereof exceeds US$
      1,000,000;

	 	 	 	 
	 	_______	(c) 	
      A natural person who had an individual income in excess
      of US$ 200,000 in each of the two most recent years or joint income with
      that person’s spouse in excess of US$ 300,000 in each of those years and
      has a reasonable expectation of reaching the same income level in the
      current year;

	 	 	 	 
	 	_______	(d) 	
      A trust that (a) has total assets in excess of US$
      5,000,000, (b) was not formed for the specific purpose of acquiring the
      Offered Securities, and (c) is directed in its purchase of securities by a
      person who has such knowledge and experience in financial and business
      matters that they are capable of evaluating the merits and risks of an
      investment in the Units;

V - 2

	 	_______	(e) 	
      An investment company registered under the Investment
      Corporation Act of 1940 (United States) or a business development
      company as defined in section 2(a)(48) of that Act;

	 	 	 	
       

	 	_______	(f) 	
      Small Business Investment Corporation licensed by the
      U.S. Small Business Administration under section 301(c) or (d) of the
      Small Business Investment Act of 1958 (United States);

	 	 	 	
       

	 	_______	(g) 	
      A private business development company as defined in
      section 202(a)(22) of the Investment Advisors Acts of 1940 (United
      States); or

	 	 	 	
       

	 	_______	(h) 	
      An entity in which all of the equity owners satisfy the
      requirements of one or more of the foregoing
categories.

DATED at ______________________________________ on
_______________________________________, 2005

	 	 
	 	Name of Subscriber - please print 
	 	 
	 	 
	 	Authorized Signature 
	 	 
	 	 
	 	Official Capacity - please print 
	 	 
	 	 
	 	
      Please print name of individual whose signature appears
      above, if different from name of Subscriber printed above
  

SCHEDULE VI

TERMS & CONDITIONS

1.      Description of
Securities

The securities subscribed for hereunder shall be units
(“Units”), each Unit consisting of one common share in the capital of the
Company (collectively the “Shares”) and one-half of one non-transferable
common share purchase warrant (each whole warrant being a “Warrant” and
collectively the “Warrants”). Each Warrant shall entitle the holder
thereof to purchase one common share in the capital of the Company (collectively
the “Warrant Shares”), as presently constituted, during the period and
for the price described on the first page of this Agreement. The foregoing
description of the Warrants is a summary only and is subject to the detailed
provisions of the certificates representing the Warrants. The Units, Shares,
Warrants and Warrant Shares are herein collectively referred to as the
“Securities”. 

The Securities will be subject to concurrent restricted
resale (hold) periods imposed by Multilateral Instrument 45-102 Resale
of Securities of the Canadian Securities Administrators (the
“Resale Instrument”) and the policies of the Toronto Stock
Exchange (the “Exchange”) during which they may be resold
only in compliance with the Resale Instrument and the Exchange’s policies. Such
restricted resale periods will expire at 11:59 p.m. on the four month
anniversary the Closing Date (as defined in paragraph 4). Subscribers are
advised to consult their own legal advisers in connection with any applicable
resale restrictions.

2.      Payment of
Subscription Price

The total Subscription Price set out on the first page of this
Private Placement Subscription Agreement (the “Agreement”) must be paid
by money order, certified cheque or bank draft payable to the Company prior to
the Closing Date. Such aggregate Subscription Price shall be allocated to the
Shares and Warrants on the basis of CDN$ 0.01 to all of the Warrants and the
balance to the Shares.

3.      Documents
Required

The Subscriber must complete, sign and deliver to the Company
an executed copy of this Agreement together with the following Schedules to this
Agreement:

	 	(a) 	
      Schedule I, a Private Placement Questionnaire and
      Undertaking required by the Exchange;

	 	 	 
	 	(b) 	
      Schedule II, a Confirmation of Relationship, if the
      Subscriber is not an accredited investor but is a director, senior officer
      or control person of the Company or a close personal friend, close
      business associate, spouse, parent, grandparent, sibling or child of a
      director, senior officer or control person of the Company resident in
      British Columbia or Alberta;

	 	 	 
	 	(c) 	
      Schedule III, a British Columbia or Alberta Accredited
      Investor Confirmation, if the Subscriber is an accredited investor
      resident in British Columbia or Alberta;

VI - 2

	 	(d) 	
      Schedule IV, an Ontario Accredited Investor Confirmation,
      if the Subscriber is an accredited investor resident in Ontario;
  and

	 	 	 
	 	(e) 	
      Schedule IV, a Confirmation by US Subscribers, if the
      Subscriber is resident in the United States of
America.

The Subscriber shall complete, sign and deliver to the Company
as soon as possible such further documents, questionnaires, notices and
undertakings as may be required by regulatory authorities, stock exchanges and
applicable law. The Company will file with the Exchange the Private Placement
Questionnaires and Undertakings of Subscribers whose subscriptions are
accepted.

4.     
Closing

Delivery and payment for the Units (the “Closing”) will
be completed at the offices of:

Kirkland Lake Gold Inc.

Barristers & Solicitors
Suite 300, 570 Granville Street

Vancouver, British Columbia 
V6C 3P1

at 10:00 a.m. (Vancouver time) on the second business day (the
“Closing Date”) after the later of that day on which the Exchange has
given its approval to the Private Placement and the Company has received
sufficient subscriptions to complete the first tranche of the Private Placement.

On the Closing Date, certificates representing the Shares and
Warrants will be sent to the Subscriber against payment to the Company of the
total Subscription Price in Canadian funds for the Units.

5.      Acknowledgements
of Subscriber

The Subscriber acknowledges that:

	 	(a) 	
      the Securities have not been registered under the United
      States Securities Act of 1933, as amended (the “1933 Act”)
      or under any state securities or “blue sky” laws, and the Company has no
      obligation or present intention of filing a registration statement under
      the 1933 Act in respect of the Securities and therefore the Securities
      cannot be offered or sold in the United States of America without
      registration under the 1933 Act and the securities laws of all applicable
      states of the United States of America, unless an exemption from
      registration is available or registration is not required pursuant to
      Regulation S under the 1933 Act;

	 	 	 
	 	(b) 	
      the Subscriber’s decision to execute this Agreement and
      acquire the Units has not been based on any oral or written representation
      made by or on behalf of the Company or any finder (the “Finder”)
      who might have introduced the Subscriber to the Company and the Company
      has not provided any offering memorandum,

VI - 3

prospectus, disclosure statement or
registration statement to the Subscriber but such decision is based entirely
upon the Subscriber’s review of information which has been filed by the Company
with the various Canadian securities commissions under applicable
securities legislation and the Exchange (the “Public Record”), including
the Company’s most recent audited annual and unaudited interim financial
statements (collectively the “Financial Statements”), and the
Subscriber’s knowledge of the Company’s affairs, and the Subscriber has had the
opportunity to ask questions of the Company and its advisors regarding the
Company and its business and financial condition and, as a result of all of the
foregoing, the Subscriber believes that it has received all the information
which it considers necessary for deciding whether to invest in the Units;

	 	(c) 	
      although the Finder may have introduced the Subscriber to
      the Company, the Subscriber and the Company acknowledge and agree with,
      and for the benefit of, the Finder (such acknowledgements and agreements
      to survive the Closing) that:

	 	 	 	 
	 		(i) 	
      the Finder and its directors, officers, employees, agents
      and representatives have no responsibility or liability of any nature
      whatsoever for the accuracy or adequacy of the information contained in
      this Agreement, the Public Record or any other publicly available
      information concerning the Company or as to whether all information
      concerning the Company required to be disclosed by it has generally been
      disclosed;

	 	 	 	 
	 		(ii) 	
      the Finder has not engaged in any independent
      investigation or verification with respect to this subscription or any
      such information; and

	 	 	 	 
	 		(iii) 	
      the Subscriber hereby releases the Finder from any claims
      that may arise in respect of this Agreement, except those arising from the
      Finder’s wilful act or negligence;

	 	 	 	 
	 	(d) 	
      the Company and the Finder are entitled to rely on the
      statements and answers of the Subscriber contained in this Agreement and
      in the Schedules to this Agreement and the Subscriber will hold the
      Company harmless and the Finder from any loss or damage they may suffer as
      a result of the Subscriber’s failure to correctly complete this Agreement
      and such Schedules;

	 	 	 	 
	 	(e) 	
      it has (or others for whom it is contracting hereunder
      have) been advised to consult their own legal advisers with respect to
      applicable resale restrictions and it is (or others for whom it is
      contracting hereunder are) solely responsible (and the Company is not in
      any way responsible) for compliance with applicable resale
      restrictions;

	 	 	 	 
	 	(f) 	
      this Agreement is not enforceable by the Subscriber
      unless it has been accepted by the Company, it has been entered into by
      the Subscriber for valuable consideration and may not be revoked or
      withdrawn by the Subscriber and it is not assignable by the Subscriber
      without the written consent of the Company which consent may be
      unreasonably withheld;

VI - 4

	 	(g) 	
      no securities commission or similar regulatory authority
      has reviewed or passed on the merits of the Securities;

	 	 	 	 
	 	(h) 	
      there is no government or other insurance covering the
      Securities;

	 	 	 	 
	 	(i) 	
      there are risks associated with the purchase of the
      Securities;

	 	 	 	 
	 	(j) 	
      there are restrictions on the Subscriber’s ability to
      resell the Securities and it is the responsibility of the Subscriber to
      find out what those restrictions are and to comply with them before
      selling the Securities;

	 	 	 	 
	 	(k) 	
      the Units are being offered for sale only on a ‘private
      placement’ basis and the Company has advised the Subscriber that the
      Company is relying on exemptions (and such sales are conditional upon the
      existence of such exemptions or the receipt of such orders, consents and
      approvals as are necessary to make such sales exempt) from the
      requirements to provide the Subscriber with a prospectus or offering
      memorandum and to sell securities through a person registered to sell
      securities under the Securities Act (British Columbia),
      Securities Act (Alberta) and Securities Act (Ontario)
      (together with the respective rules, policies, instruments and orders
      thereunder, the “BC Act”, “Alberta Act” and “Ontario
      Act”, respectively), as the case may be, and, as a consequence of
      acquiring securities pursuant to these exemptions,

	 	 	 	 
	 		(i) 	
      certain protections, rights and remedies provided by such
      securities legislation, including statutory rights of rescission or
      damages, will not be available to the Subscriber,

	 	 	 	 
	 		(ii) 	
      information that would otherwise be provided to the
      Subscriber under such securities legislation will not be provided to it,
      and

	 	 	 	 
	 		(iii) 	
      the Company is relieved from various obligations under
      such securities legislation that would otherwise apply to it;

	 	 	 	 
	 	(l) 	
      pursuant to the Resale Instrument, the Securities will be
      subject to restrictions on transfer for a period of four months and a
      concurrent period of four months pursuant to the policies of the Exchange,
      in both cases from the Closing Date and thereafter the Securities may be
      subject to notice or other requirements under applicable securities
      legislation upon disposition; and

	 	 	 	 
	 	(m) 	
      pending the approval of the Private Placement by all
      securities regulatory authorities having jurisdiction and the Closing, the
      Subscription Funds may be used by the Company for its corporate purposes.
      Any interest income from the Subscription Funds shall be for the account
      of the Company regardless of whether the Private Placement is approved by
      such regulatory authorities. Should such regulatory authorities not
      approve the Private Placement the Subscription Funds shall be repaid to
      the Subscriber on demand without interest or
deduction.

VI - 5

6.      Representations,
Warranties and Covenants of the Subscriber

The Subscriber hereby represents, warrants and covenants to the
Company (which representations, warranties and covenants shall survive Closing)
that:

	 	(a) 	
      if the Subscriber is purchasing the Units as principal
      for its own account, the Subscriber is purchasing them for investment only
      and not for the benefit of any other person or for resale, distribution or
      other disposition of the Securities and is resident
in:

British Columbia
Subscribers

British Columbia and is

	 	(i) 	
      purchasing a sufficient number of such securities that
      the aggregate acquisition cost is not less than CDN$ 97,000;

	 	 	 
	 	(ii) 	
      a senior officer, director or employee of the Company or
      an affiliate of the Company, and has not been induced to purchase such
      securities by expectation of employment or continued employment, or an
      issuer all of the voting securities of which are owned by one or more of
      such persons;

	 	 	 
	 	(iii) 	
      a director, senior officer or control person of the
      Company, or of an affiliate of the Company;

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

	 	 	 
	 	(v) 	
      a close personal friend of a director, senior officer or
      control person of the Company, or of an affiliate of the
Company;

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

	 	 	 
	 	(vii) 	
      a person or corporation that is wholly-owned by any
      combination of persons or corporations described in paragraphs (iii) to
      (vi); or

	 	 	 
	 	(viii) 	
      an accredited investor under the BC
Act.

-or-

Alberta Subscribers

Alberta and is

	 	(ix) 	
      purchasing a sufficient number of such securities that
      the aggregate acquisition cost is not less than CDN$
  97,000;

VI - 6

	 	(x) 	
      is an employee of the Company or an affiliate of the
      Company, and has not been directly or indirectly required by the employer
      to purchase such securities or the Subscriber is a senior officer or
      director of the Company or an affiliate of the Company;

	 	 	 
	 	(xi) 	
      a director, senior officer or control person of the
      Company, or of an affiliate of the Company;

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

	 	 	 
	 	(xiii) 	
      a close personal friend of a director, senior officer or
      control person of the Company, or of an affiliate of the
Company;

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

	 	 	 
	 	(xv) 	
      a person or corporation that is wholly-owned by any
      combination of persons or corporations described in paragraphs (xi) to
      (xiv); or

	 	 	 
	 	(xvi) 	
      an accredited investor under the Alberta
  Act.

-or-

Ontario Subscribers

	 	(xvii) 	
      Ontario and is an accredited investor under the Ontario
      Act.

-or-

United States
Subscribers

the United States of America, or is
otherwise subject to the securities laws thereof, and:

	 	(xviii) 	
      understands the Securities have not and will not be
      registered under the 1933 Act or the securities laws of any state of the
      United States of America in which the Subscriber is resident and the sale
      contemplated hereby is being made in reliance on private placement
      exemptions to either Rule 506 Subscribers pursuant to Rule 506 of the 1933
      Act or Reg S Subscribers pursuant to Rule 903 of Regulation S of the 1933
      Act;

	 	 	 
	 	(xix) 	
      if the Subscriber is a Rule 506 Subscriber the Subscriber
      is an Accredited Investor as set out in the attached Schedule V
      ‘Confirmation by US Subscribers’;

VI - 7

	 	(xx) 	
      has no contract, undertaking, agreement or arrangement
      with any person to sell, transfer or pledge to such person, or anyone
      else, the Securities, or any part thereof, or any interest therein and the
      Subscriber has no present plans to enter into any such contract,
      undertaking, agreement or arrangement;

	 	 	 
	 	(xxi) 	
      if the Subscriber decides to offer, sell or otherwise
      transfer any of the Securities, will not offer, sell or otherwise transfer
      any of the Securities, directly or indirectly, unless the sale
  is:

	 	(A) 	
      to the Company;

	 	 	 
	 	(B) 	
      made outside the United States in a transaction meeting
      the requirements of Rule 904 of Regulation S under the 1933 Act (or such
      rule or regulation promulgated by the Securities and Exchange Commission
      of the United States of America as is then in effect) and in compliance
      with applicable local laws and regulations; or

	 	 	 
	 	(C) 	
      made in a transaction that does not require registration
      under the 1933 Act or any applicable United States state securities laws
      and regulations governing the offer and sale of securities and the
      Subscriber has furnished to the Company, prior to such sale, an opinion of
      counsel of recognized standing reasonably satisfactory to the Company
      confirming the compliance of such sale with the 1933 Act and applicable
      United States state securities laws;

	 	(xxii) 	
      acknowledges and agrees the Securities will be
      “restricted securities” under the 1933 Act inasmuch as they are being
      acquired from the Company in a transaction not involving a public offering
      and that under the Act and applicable regulations the Securities may be
      resold without registration under the 1933 Act only in certain limited
      circumstances;

	 	 	 
	 	(xxiii) 	
      understands and acknowledges that upon the issuance
      thereof, and unless and until such time as the same is no longer required
      under the applicable requirements of the 1933 Act or applicable United
      States state securities laws and regulations, the certificates
      representing any of the Shares and Warrant Shares (and all certificates
      issued in exchange therefor or in substitution thereof) shall bear, on the
      face of such certificates, the following legend:

  
    
      
        
          “THE SECURITIES EVIDENCED BY THIS CERTIFICATE
            HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT
            OF 1933, AS AMENDED, (THE “1933 ACT”) OR ANY APPLICABLE
            STATE SECURITIES LAW. NO INTEREST THEREIN MAY BE SOLD, DISTRIBUTED,
            ASSIGNED, OFFERED, PLEDGED OR OTHERWISE TRANSFERRED OR DISPOSED OF
            WITHOUT (A) AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND
            APPLICABLE UNITED STATES STATE SECURITIES

        

      

    

  

VI - 8

  
    
      
        
          LAWS COVERING ANY SUCH TRANSACTION, OR (B) AN AVAILABLE
            EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.”

        

      

    

  

		(xxiv) 	
      consents to the Company making a notation on its records
      or giving instructions to any transfer agent of the Company in order to
      implement the restrictions on transfer set forth herein; 

	 	  	
       

		(xxv) 	
      acknowledges the Company has no obligation or present
      intention to file a registration statement under the 1933 Act in respect
      of the Securities and accordingly there are substantial restrictions on
      transferability of the Securities and it may not be possible to liquidate
      the Subscriber’s investment readily in case of any emergency; 

	 	  	
       

		(xxvi) 	
      acknowledges the Financial Statements have been prepared
      in accordance with Canadian generally accepted accounting principles,
      which differ in some respects from United States generally accepted
      accounting principles, and thus may not be comparable to financial
      statements of United States companies; 

	 	  	
       

		(xxvii) 	
      the Subscriber will not engage in any ‘directed selling
      efforts’ (as defined in Regulation S of the 1933 Act) in the United States
      of America in respect of the resale of the Securities, which includes any
      activities undertaken for the purpose of, or that could reasonably be
      expected to have the effect of, conditioning the market in the United
      States for the resale of the Securities; and 

	 	  	
       

		(xxviii) 	
      the Subscriber has not subscribed for the Units as a
      result of any form of ‘general solicitation’ or ‘general advertising’ (as
      those terms are used in Regulation D under the 1933 Act), including
      advertisements, articles, notices or other communications published in any
      newspaper, magazine or similar media or broadcast over radio or
      television, or other form of telecommunications, including electronic
      display, or any seminar or meeting whose attendees have been invited by
      general solicitation or general advertising. 

- or -

English Subscribers

England and:

	 	(xxix) 	
      falls within one of the categories of applicable English
      law in respect of which stamp duty or stamp duty reserve tax is not
      payable;

	 	 	 
	 	(xxx) 	
      is of the kind of investor described in paragraph 2(a) of
      Article 7 of the Public Offers of Securities Regulations 1995 and
      falls within one or more

VI - 9

of the categories of investors set out
in Article 19 (Investment Professionals) or Article 49 (High net worth
companies, unincorporated associations, etc.) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2001; 

	 	(xxxi) 	
      is not applying for registration as, or as a nominee or
      agent for, a person who is or may be a person mentioned in sections 67 to
      72 inclusive and sections 93 to 97 inclusive of the Finance Act
      1986;

	 	 	 
	 	(xxxii) 	
      the Finder is not acting for the Subscriber and it does
      not expect the Finder to have any duties or responsibilities towards
      Subscriber for providing the protections afforded to customers or clients
      under the Conduct of Business Source Book of the Financial Services
      Authority (“FSA”) or advising the Subscriber with regard to the
      Private Placement, the Subscriber is not, and will not be, a customer or
      client of the Finder as defined by the FSA Conduct of Business Source Book
      and the Finder will not treat any payment by the Subscriber pursuant to
      this Agreement as client money governed by the FSA Conduct of Business
      Source Book; and

	 	 	 
	 	(xxxiii) 	
      is aware of its obligations in connection with the
      Criminal Justice Act 1993, it has identified its clients in
      accordance with the Money Laundering Regulations 2003 and it has
      complied fully with its obligations pursuant to those
  Regulations.

-or-

Other Subscribers

	 	(xxxiv) 	
      a jurisdiction other than any of the foregoing, as set
      out on the first page of this Agreement.

	 	(b) 	
      if the Subscriber is not purchasing the Units for its own
      account but for one or more accounts that are fully managed by it, the
      Subscriber is duly authorized to enter into this Agreement and complete
      the transactions contemplated hereby and is:

	 	 	 	 
	 		(i) 	
      a trust company or an insurance company which has
      received a business authorization under the Financial Institutions Act
      (British Columbia) or is authorized under the laws of another province
      of Canada to carry on such business in such other province and the
      Subscriber is purchasing such securities as an agent or trustee for
      accounts that are fully managed by it; or

	 	 	 	 
	 		(ii) 	
      an adviser managing the investment portfolios of clients
      through discretionary authority granted by one or more clients, and is
      either (1) registered as such an adviser under the BC Act, Alberta Act or
      the laws of another province of Canada or is exempt from such
      registration, or (2) in a jurisdiction other than Canada and, in either
      (1) or (2), is purchasing securities as an agent for accounts that are
      fully managed by it; and

VI - 10

	 	(iii) 	
      resident in British Columbia or Alberta and the aggregate
      acquisition cost for such securities is not less than CDN$
  97,000;

	 	 	 
	 	(iv) 	
      resident in British Columbia, Alberta or Ontario and is
      an ‘accredited investor’ under the BC Act, Alberta Act or Ontario Act,
      respectively; or

	 	 	 
	 	(v) 	
      resident outside of Canada;

	 	(c) 	
      if the Subscriber is not purchasing the Units for its own
      account or one or more accounts that are fully managed by it but is
      purchasing them on behalf of certain principals for which it is acting as
      agent, it is duly authorized to enter into this Agreement and complete the
      transactions contemplated hereby and each such principal:

	 	 	 	 
	 		(i) 	
      is disclosed on the execution page at the beginning of
      this Subscription Agreement;

	 	 	 	 
	 		(ii) 	
      is purchasing as principal for its own account as an
      investment and not for the benefit of any other person or with a view to
      the resale, distribution or other disposition of the Securities;
  and

	 	 	 	 
	 		(iii) 	
      satisfies the conditions set out in paragraph (a), as
      applicable,

	 	 	 	 
	 			
      and the Subscriber acknowledges that the Company is
      required by law to disclose to certain regulatory authorities the identity
      of each such principal for whom it is acting and consents to such
      disclosure;

	 	 	 	 
	 	(d) 	
      if the Subscriber is not an individual or a corporation
      and is purchasing pursuant to sub-paragraph (a)(i) or (a)(ix), each member
      of the partnership, syndicate or other unincorporated organization which
      is the beneficial purchaser, or each beneficiary of the trust which is the
      beneficial purchaser, as the case may be, is an individual who has an
      aggregate acquisition cost for the Units of at least CDN$ 97,000 if
      resident in British Columbia or Alberta;

	 	 	 	 
	 	(e) 	
      the subscriber is not a U.S. Person or a person in the
      United States and is not acquiring the Units for the account or benefit of
      a U.S. Person or a person in the United States. A ‘U.S. Person’ is defined
      in Regulation S under the 1933 Act to be any person who is

	 	 	 	 
	 		(i) 	
      any natural person resident in the United
  States,

	 	 	 	 
	 		(ii) 	
      any partnership or corporation organized or incorporated
      under the laws of the United States,

	 	 	 	 
	 		(iii) 	
      any estate of which any executor or administrator is a
      U.S. Person,

	 	 	 	 
	 		(iv) 	
      any trust of which any trustee is a U.S.
  Person,

VI - 11

	 	(v) 	
      any agency or branch of a foreign entity located in the
      United States,

	 	 	 	 
	 	(vi) 	
      any non-discretionary account or similar account (other
      than an estate or trust) held by a dealer or other fiduciary organized,
      incorporated or, if an individual, resident in the United States,
    and

	 	 	 	 
	 	(vii) 	
      any partnership or corporation if

	 	 	 	 
	 		(A) 	
      organized or incorporated under the laws of any foreign
      jurisdiction, and

	 	 	 	 
	 		(B) 	
      formed by a U.S. Person principally for the purpose of
      investing in securities not registered under the 1933 Act, unless it is
      organized or incorporated, and owned, by ‘Accredited Subscribers’ (as
      defined in Section 230.501(a) of the 1933 Act) who are not natural
      persons, estates or trusts;

	 	(f) 	
      the Subscriber is not acquiring the Units as a result of
      any information about the material affairs of the Company that is not
      generally known to the public except knowledge of this particular
      transaction;

	 	 	 
	 	(g) 	
      pursuant to the Resale Instrument and the policies of the
      Exchange the Subscriber will not transfer the Securities for a period of
      four months from the Closing Date except in compliance with the Resale
      Instrument and the policies of the Exchange and will comply with such
      notice and other requirements under applicable securities legislation upon
      disposition;

	 	 	 
	 	(h) 	
      neither the Subscriber nor any party on whose behalf it
      is acting has been created, established, formed or incorporated solely, or
      is used primarily, to acquire securities or to permit the purchase of the
      Units without a prospectus in reliance on an exemption from the prospectus
      requirements of applicable securities legislation;

	 	 	 
	 	(i) 	
      the Subscriber and any beneficial purchaser for whom it
      is acting are resident in the jurisdiction set out on the first page of
      this Agreement;

	 	 	 
	 	(j) 	
      the entering into of this Agreement and the transactions
      contemplated hereby do not result in the violation of any of the terms and
      provisions of any law applicable to, or the constating documents of, the
      Subscriber or of any agreement, written or oral, to which the Subscriber
      may be a party or by which the Subscriber is or may be bound;

	 	 	 
	 	(k) 	
      the Subscriber has the legal capacity and competence to
      enter into and execute this Agreement and to take all actions required
      pursuant hereto and, if the Subscriber is a corporation, it is duly
      incorporated and validly subsisting under the laws of its jurisdiction of
      incorporation and all necessary approvals by its directors, shareholders
      and others have been obtained to authorize execution of this Agreement on
      behalf of the Subscriber;

VI - 12

	 	(l) 	
      the Subscriber has duly executed and delivered this
      Agreement and it constitutes a valid and binding agreement of the
      Subscriber enforceable against the Subscriber;

	 	 	 	 
	 	(m) 	
      this subscription by the Subscriber has not been induced
      by any representations or warranties by any person whatsoever with regard
      to the future value of the Securities;

	 	 	 	 
	 	(n) 	
      to the best of its knowledge, none of the funds the
      Subscriber is using to purchase the Units

	 	 	 	 
	 		(i) 	
      have been or will be derived from or related to any
      activity that is prohibited by, or deemed criminal under, the laws of
      Canada, United States of America, or any other jurisdiction, or

	 	 	 	 
	 		(ii) 	
      are being tendered on behalf of a person or entity who
      has not been identified to the Subscriber; and

	 	 	 	 
	 	(o) 	
      the Subscriber is an investor in securities of
      corporations in the development stage and acknowledges that it is able to
      fend for itself, can bear the economic risk of its investment and it has
      such knowledge and experience in financial or business matters such that
      it is capable of evaluating the merits and risks of the investment in the
      Units.

The foregoing representations, warranties and covenants are
made by the Subscriber with the intent that they be relied upon by the Company
in determining the Subscriber’s suitability as a purchaser of the Units and are
true and correct as of the date of this Agreement and the Closing Date. The
Subscriber hereby agrees to indemnify the Company and its directors, officers,
employees, advisors, affiliates, shareholders, partners and agents from and
against all losses, claims, costs, expenses and damages or liabilities
whatsoever including, but not limited to, any fees, costs and expenses
reasonably incurred in investigating, preparing or defending against any
litigation, administrative proceeding or investigation commenced or threatened
or any claim arising out of or based upon a breach of any such representations,
warranties and covenants which it may suffer or incur as a result thereof. The
Subscriber undertakes to immediately notify the Company of any change in any
representation, warranty or other information relating to the Subscriber set
forth herein which occurs before the Closing Date.

7.      Representations
and Warranties of the Company

The Company represents and warrants to the Subscriber that, as
of the date of this Agreement and at the Closing:

	 	(a) 	
      the Company and its subsidiaries, if any, are valid and
      subsisting corporations duly incorporated, continued or amalgamated and in
      good standing under the laws of the jurisdictions in which they are
      incorporated, continued or amalgamated with respect to all acts necessary
      to maintain their corporate existence;

VI - 13

	 	(b) 	
      the Company has complied and will comply with all
      applicable corporate and securities laws and regulations in connection
      with the offer, sale and issuance of the Units;

	 	 	 
	 	(c) 	
      the Company is the beneficial owner of the properties,
      business and assets or the interests in the properties, business and
      assets referred to in the Public Record, except as disclosed in the Public
      Record all agreements by which the Company holds an interest in a
      property, business or asset are in good standing according to their terms,
      and there has not been any breach of the applicable laws of the
      jurisdictions in which such properties, business and assets are situated
      which would have a material adverse effect on such properties, business
      and assets;

	 	 	 
	 	(d) 	
      the Public Record and the representations contained in
      this Agreement are accurate in all material respects and omit no fact, the
      omission of which would make such representation misleading in light of
      the circumstances in which such representation was made;

	 	 	 
	 	(e) 	
      the Financial Statements accurately reflect the financial
      position of the Company as at the date thereof and no adverse material
      changes in the financial position of the Company have taken place since
      the date of the latest balance sheet contained in the Financial
      Statements, except as has been publicly disclosed;

	 	 	 
	 	(f) 	
      the issuance and sale of the Units by the Company does
      not and will not conflict with and does not and will not result in a
      breach of any of the terms, conditions or provisions of its constating
      documents or any agreement or instrument to which the Company is a
      party;

	 	 	 
	 	(g) 	
      this Agreement has been duly authorized by all necessary
      corporate action on the part of the Company and, subject to acceptance by
      the Company, constitutes a valid obligation of the Company legally binding
      upon it and enforceable in accordance with its terms;

	 	 	 
	 	(h) 	
      the issuance of the Securities, at the time of their
      issue, will have been approved by all requisite corporate action and any
      shares comprising part of the Securities, upon issue and delivery, will be
      validly issued as fully paid and non-assessable;

	 	 	 
	 	(i) 	
      the Company and its subsidiaries, if any, are duly
      registered or licensed to carry on business in the jurisdictions in which
      they are required to be so registered or licensed to carry on business or
      own property or assets;

	 	 	 
	 	(j) 	
      neither the Company nor any of its subsidiaries, if any,
      is a party to any actions, suits or proceedings which could materially
      affect its business or financial condition, and, as at the date hereof, no
      such actions, suits or proceedings have been threatened or, to the best of
      the Company’s knowledge, are pending, except as disclosed in the Public
      Record;

VI - 14

	 	(k) 	
      no order ceasing or suspending trading in the Securities
      nor prohibiting sale of the Securities has been issued to and is
      outstanding against the Company or its directors, officers or promoters
      and to the best of the Company’s knowledge no investigations or
      proceedings for such purposes are pending or threatened; and

	 	 	 
	 	(l) 	
      the Company is a reporting issuer under the BC Act,
      Alberta Act and Ontario Act, its common shares are listed for trading on
      the Exchange and there shall not be any consents, approvals,
      authorizations, orders or agreements of any stock exchanges, securities
      commissions or similar authorities in Canada, governmental agencies or
      regulators, courts or any other persons which may be required for the
      issuance of the Securities and the delivery of certificates representing
      the Securities to the Subscriber, not obtained and not in effect on the
      date of delivery of such certificates.

8.      Legending of
Securities

The Subscriber hereby acknowledges that legends will be placed
upon the certificates representing the Securities to the effect that the
securities represented thereby are subject to hold or restricted resale periods
and may not be traded until the expiry thereof except as permitted under the
Resale Instrument, the policies of the Exchange and any other applicable
securities legislation, rules or policies.

9.      Costs

The Subscriber acknowledges and agrees that all costs and
expenses incurred by the Subscriber (including any fees and disbursements of any
special counsel retained by the Subscriber) relating to the acquisition of the
Securities shall be borne by the Subscriber.

10.     Governing
Law

This Agreement is governed by the laws of the province of
British Columbia and the federal laws of Canada applicable herein. The
Subscriber, in its personal or corporate capacity and, if applicable, on behalf
of each beneficial purchaser for whom it is acting, irrevocably attorn to the
jurisdiction of the courts of the province of British Columbia.

VI - 15

11.     Personal
Information

The Subscriber (on its own behalf and, if applicable, on behalf
of any person for whose benefit the Subscriber is subscribing) acknowledges and
consents to the Company: 

	 	(a) 	
      collecting the Subscriber’s (and that of any person for
      whose benefit the Subscriber is subscribing) personal information for the
      purposes of completing the Subscriber’s subscription;

	 	 	 
	 	(b) 	
      retaining the personal information for as long as
      permitted or required by applicable law or business practices;
  and

	 	 	 
	 	(c) 	
      providing to various governmental and regulatory
      authorities, as may be required by applicable securities laws, stock
      exchange rules, and the rules of the Investment Dealers Association, or to
      give effect to this agreement any personal information provided by the
      Subscriber.

The Subscriber represents and warrants that it has the
authority to provide the consents and acknowledgments set out in this paragraph
on behalf of all persons for whose benefit the Subscriber is subscribing.

12.     Survival

This Agreement including, without limitation, the
representations, warranties and covenants contained herein, shall survive and
continue in full force and effect and be binding upon the parties for a period
of one year after the Closing Date notwithstanding the completion of the
purchase of the Units by the Subscriber and any subsequent disposition by the
Subscriber of the Securities.

13.     Assignment

This Agreement is not transferable or assignable.

14.     Execution

The Company shall be entitled to rely on delivery by facsimile
machine of an executed copy of this Agreement and acceptance by the Company of
such facsimile copy shall be equally effective to create a valid and binding
agreement between the Subscriber and the Company in accordance with the terms
hereof.

15.    
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.

VI - 16

16.     Entire
Agreement

Except as expressly provided in this Agreement and in the
agreements, instruments and other documents contemplated or provided for herein,
this Agreement contains the entire agreement between the parties with respect to
the sale of the Units and there are no other terms, conditions, representations
or warranties, whether expressed, implied, oral or written, by statute, by
common law, by the Company, by the Subscriber, or by any third party.

17.     Notice

Unless otherwise provided herein, any notice or other
communication to a party under this Agreement may be made, given or served by
registered mail, postage pre-paid, by telecopy or by delivery to the parties at
the addresses as set out in this Agreement. Any notice or other
communication:

	 	(a) 	
      mailed shall be deemed to have been received on the fifth
      business day following its mailing;

	 	 	 
	 	(b) 	
      telecopied shall be deemed to have been received on the
      business day following the date of transmission; and

	 	 	 
	 	(c) 	
      delivered shall be deemed to have been received on the
      date of delivery.

In the event of a postal strike or delay affecting mail
delivery, the date of receipt of any notice by mail is deemed to be extended by
the length of such strike or delay. Each party may change its address for
service at any time by providing notice in writing of such change to the other
party.

18.     Securities Regulatory
Approval

This Agreement shall be subject to the approval of all
securities regulatory authorities having jurisdiction.

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