As reported by chickadilly and also by the Krypton-Site Forums :
Kristin has confirmed that she has been let out of her smallville contract for the last season and has a new movie set for filming DURING next seasons filming schedule that she is Star and coProducer of. She talked at length with my friend about how great it was of Al and Miles to let her go early and how she really feels this will be the springboard in the series going forward to have Tom's character start his journey PROPERLY where he has to go with no more Lana intanglements hindering him.
Let it be true. OH. DEAR. GOD, let it be true! This will save Chloe for just that much longer and that's just a blessing. This isn't officially confirmation, buuuuuut...
THANK GOD, THEY HAVE SEEN SANITY! DIE, LANA, DIE!
And please do so in a way that we'll mourn you and be sorry to see you go.
Kristin, please, please go on to bigger and better parts and make us all proud. It was the part, not you. Gough and Millar, please advance the storyline and let's put some rocket-power in this heap! It's about time!
*hits knees and screams with excitement*