Kinross Reserves Increase Over 35%

    News Editors

    TORONTO--(BUSINESS WIRE)--Feb. 15, 2005--Kinross Gold Corporation (TSX:K)(NYSE:KGC) ("Kinross" or the "Company") announced today that proven and probable gold reserves at December 31, 2004 increased 37% from 14.1 million ounces to 19.4 million ounces. Silver reserves at the end of 2004 are 32.8 million ounces. Reserves were calculated using a $350 gold price and $5.50 silver price and resources were calculated using a $400 gold price and a $5.50 silver price for 2004. Reserves and resources for 2003 were calculated using a $325 and $350 gold price, respectively. The change in reserves was calculated as follows:

'000 oz. gold -------------- Opening Reserves 14,131 Depleted through mining (1,913) Acquired (Paracatu) 4,316 Reserve additions 2,606 -------------- Ending Balance 19,410 --------------

Gold Reserves and Resources History

2000 2001 2002 2003 2004 ----------------------------------------- Proven and Probable 6,920 5,661 13,153 14,131 19,410 Measured and Indicated 10,489 9,460 7,724 6,244 8,186

NOTE: There is a Map available on CCNMatthews' website at: http://www2.ccnmatthews.com/database/fax/2000/reserve215.pdf

    The Gurupi project has not been included in reserves at year end as a feasibility study is still in progress. A drill program is underway at Paracatu that may significantly expand the reserve base at the mine, and influence how we approach the expansion at that operation.

    2004 Production and Costs

    Gold equivalent production for the year ended 2004 was 1.65 million ounces at total cash costs(i) of approximately $242.

    "Costs were a little higher than planned due to the earlier than planned shutdown of the Lupin mine and the deferral of the Tsokol project in Russia", said Scott Caldwell, chief operating officer of Kinross. "We will also see some write downs of supplies inventories and fixed assets at New Britannia, Lupin and Kubaka."

    Kinross' release of financial results will be delayed until a third party independent valuation on the value of the goodwill that arose from the merger with TVX Gold Inc. and Echo Bay Mines Ltd. is completed.

    2005 Guidance

    Today the Board of Directors approved a budget for 2005 that contemplates a production level of approximately 1.6 million ounces. This is a decline from the 1.65 million ounces reported for 2004, primarily due to the closure of Lupin and New Britannia and the delayed start at Refugio until the second quarter of 2005. Total cash costs are expected to be marginally higher than 2004, between $250-$255 per ounce, primarily as a result of higher consumable costs and the impact of the weaker US Dollar on non-US dollar based operating costs.

    Capital costs are budgeted to be $160 million with the major expenditures being; $43 million at Fort Knox, $36 million at Paracatu, $25 million at Refugio and $22 million at Porcupine.

    This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the Kinross' financial statements for its fiscal year ended December 31, 2003, potential mineralization and reserves, exploration results and future plans and objectives of Kinross Gold Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Any restatement of historical financial statements is dependant on the outcome of the independent valuation of the acquired assets, and Kinross does not know what that outcome will be. Other important factors that could cause actual results to differ materially from Kinross' expectations are disclosed under the heading "Risk Factors" and elsewhere in Kinross' documents filed from time to time with the Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities.

    (i) Total cash costs are a non-GAAP measure intended to provide investors with information about the cash generating capacity of Kinross. Management uses this measure for the same purpose and for monitoring performance of its gold mining operations. Total cash costs per ounce is a standard gold mining industry measure that was developed in conjunction with the Gold Institute in an effort to provide a level of comparability among precious metals producers. This measure differs from earnings determined in accordance with Generally Accepted Accounting Principles ("GAAP") and should not be considered in isolation or a substitute for measures of performance determined in accordance with GAAP. Total cash costs may reflect adjustments for items that are recurring such as change in inventory and site restoration cost accruals. A reconciliation of total cash costs with operating costs per the consolidated financial statements will be published by the Company once its December 31, 2004 year end financial statements are available.

MINERAL RESERVE AND RESOURCE STATEMENT PROVEN AND PROBABLE MINERAL RESERVES (1,3,5,6,7,23) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Proven Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- GOLD NORTH AMERICA --------------------------------------------------------------------- Fort Knox and area (13) USA 100.0% 53,333 0.76 1,301 --------------------------------------------------------------------- Round Mtn and area (14) USA 50.0% 45,179 0.57 824 --------------------------------------------------------------------- Porcupine JV (9,12) Canada 49.0% 11,005 1.31 463 --------------------------------------------------------------------- Aquarius (10) Canada 100.0% - - - --------------------------------------------------------------------- Musselwhite (12) Canada 31.9% 1,897 5.61 342 --------------------------------------------------------------------- Lupin Mine Canada 100.0% 33 8.47 9 --------------------------------------------------------------------- New Britannia Canada 50.0% - - - --------------------------------------------------------------------- Kettle River USA 100.0% 169 9.98 54 --------------------------------------------------------------------- SUBTOTAL 111,615 0.83 2,993 ---------------------------------------------------------------------

--------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- Paracatu Brazil 100.0% 425,947 0.44 6,025 --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 9,159 1.25 369 --------------------------------------------------------------------- Refugio Chile 50.0% 49,160 0.88 1,388 --------------------------------------------------------------------- Crixas (11, 18) Brazil 50.0% 1,386 6.13 273 --------------------------------------------------------------------- SUBTOTAL 485,651 0.52 8,055 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 424 3.55 48 --------------------------------------------------------------------- SUBTOTAL 424 3.55 48 --------------------------------------------------------------------- TOTAL GOLD w/o BLANKET 597,691 0.58 11,096 --------------------------------------------------------------------- Blanket (22) Zimbabwe 100.0% 684 4.32 95 --------------------------------------------------------------------- TOTAL GOLD w BLANKET 598,375 0.58 11,191 ---------------------------------------------------------------------

--------------------------------------------------------------------- SILVER SOUTH AMERICA --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 9,159 68.1 20,044 --------------------------------------------------------------------- SUBTOTAL 9,159 68.1 20,044 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 424 9.0 123 --------------------------------------------------------------------- SUBTOTAL 424 9.0 123 --------------------------------------------------------------------- TOTAL SILVER 9,583 65.5 20,167 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT PROVEN AND PROBABLE MINERAL RESERVES (1,3,5,6,7,23) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Probable Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- GOLD NORTH AMERICA --------------------------------------------------------------------- Fort Knox and area (13) USA 100.0% 47,471 1.02 1,556 --------------------------------------------------------------------- Round Mtn and area (14) USA 50.0% 30,129 0.67 652 --------------------------------------------------------------------- Porcupine JV (9,12) Canada 49.0% 23,072 1.65 1,223 --------------------------------------------------------------------- Aquarius (10) Canada 100.0% 15,017 2.16 1,042 --------------------------------------------------------------------- Musselwhite (12) Canada 31.9% 1,447 5.70 265 --------------------------------------------------------------------- Lupin Mine Canada 100.0% - - - --------------------------------------------------------------------- New Britannia Canada 50.0% - - - --------------------------------------------------------------------- Kettle River USA 100.0% - - - --------------------------------------------------------------------- SUBTOTAL 117,136 1.26 4,738 ---------------------------------------------------------------------

--------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- Paracatu Brazil 100.0% 178,464 0.43 2,437 --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 4,089 1.04 137 --------------------------------------------------------------------- Refugio Chile 50.0% 12,867 0.80 329 --------------------------------------------------------------------- Crixas (11, 18) Brazil 50.0% 683 7.22 159 --------------------------------------------------------------------- SUBTOTAL 196,103 0.49 3,062 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 614 10.60 209 --------------------------------------------------------------------- SUBTOTAL 614 10.60 209 --------------------------------------------------------------------- TOTAL GOLD w/o BLANKET 313,853 0.79 8,009 --------------------------------------------------------------------- Blanket (22) Zimbabwe 100.0% 1,536 4.26 210 --------------------------------------------------------------------- TOTAL GOLD w BLANKET 315,389 0.81 8,219 ---------------------------------------------------------------------

--------------------------------------------------------------------- SILVER SOUTH AMERICA --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 4,089 94.6 12,437 --------------------------------------------------------------------- SUBTOTAL 4,089 94.6 12,437 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 614 12.4 245 --------------------------------------------------------------------- SUBTOTAL 614 12.4 245 --------------------------------------------------------------------- TOTAL SILVER 4,703 83.9 12,682 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT PROVEN AND PROBABLE MINERAL RESERVES (1,3,5,6,7,23) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Proven and Probable Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- GOLD NORTH AMERICA --------------------------------------------------------------------- Fort Knox and area (13) USA 100.0% 100,803 0.88 2,858 --------------------------------------------------------------------- Round Mtn and area (14) USA 50.0% 75,309 0.61 1,475 --------------------------------------------------------------------- Porcupine JV (9,12) Canada 49.0% 34,077 1.54 1,685 --------------------------------------------------------------------- Aquarius (10) Canada 100.0% 15,017 2.16 1,042 --------------------------------------------------------------------- Musselwhite (12) Canada 31.9% 3,343 5.65 607 --------------------------------------------------------------------- Lupin Mine Canada 100.0% 33 8.47 9 --------------------------------------------------------------------- New Britannia Canada 50.0% - - - --------------------------------------------------------------------- Kettle River USA 100.0% 169 9.98 54 --------------------------------------------------------------------- SUBTOTAL 228,751 1.05 7,731 ---------------------------------------------------------------------

--------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- Paracatu Brazil 100.0% 604,411 0.44 8,463 --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 13,248 1.19 506 --------------------------------------------------------------------- Refugio Chile 50.0% 62,027 0.86 1,717 --------------------------------------------------------------------- Crixas (11, 18) Brazil 50.0% 2,069 6.49 432 --------------------------------------------------------------------- SUBTOTAL 681,754 0.51 11,116 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 1,038 7.72 258 --------------------------------------------------------------------- SUBTOTAL 1,038 7.72 258 --------------------------------------------------------------------- TOTAL GOLD w/o BLANKET 911,544 0.65 19,104 --------------------------------------------------------------------- Blanket (22) Zimbabwe 100.0% 2,220 4.28 305 --------------------------------------------------------------------- TOTAL GOLD w BLANKET 913,764 0.66 19,410 ---------------------------------------------------------------------

--------------------------------------------------------------------- SILVER SOUTH AMERICA --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 13,248 76.3 32,480 --------------------------------------------------------------------- SUBTOTAL 13,248 76.3 32,480 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 1,038 11.0 368 --------------------------------------------------------------------- SUBTOTAL 1,038 11.0 368 --------------------------------------------------------------------- TOTAL SILVER 14,286 71.5 32,848 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT MEASURED AND INDICATED MINERAL RESOURCES (EXCLUDES PROVEN AND PROBABLE RESERVES) (2,3,4,6,7,8,23) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Measured Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- GOLD NORTH AMERICA --------------------------------------------------------------------- Fort Knox and area (13) USA 100.0% 11,927 0.65 251 --------------------------------------------------------------------- Round Mtn and area (14) USA 50.0% 14,749 0.48 227 --------------------------------------------------------------------- Porcupine JV (9,12,19) Canada 49.0% 3,043 2.62 256 --------------------------------------------------------------------- Aquarius (10) Canada 100.0% - - - --------------------------------------------------------------------- Musselwhite (12,19) Canada 31.9% 496 3.94 63 --------------------------------------------------------------------- Lupin Mine Canada 100.0% - - - --------------------------------------------------------------------- New Britannia Canada 50.0% 40 4.77 6 --------------------------------------------------------------------- Kettle River USA 100.0% - - - --------------------------------------------------------------------- George-Goose Lake (10) Canada 100.0% - - - --------------------------------------------------------------------- SUBTOTAL 30,254 0.83 803 ---------------------------------------------------------------------

--------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- Paracatu Brazil 100.0% 1,645 0.30 16 --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 9,077 0.91 266 --------------------------------------------------------------------- Refugio Chile 50.0% 21,688 0.78 541 --------------------------------------------------------------------- Crixas (11,18) Brazil 50.0% 324 7.10 74 --------------------------------------------------------------------- Gurupi (10, 21) Brazil 100.0% - - - --------------------------------------------------------------------- SUBTOTAL 32,734 0.85 897 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 92 3.89 12 --------------------------------------------------------------------- SUBTOTAL 92 3.89 12 --------------------------------------------------------------------- AUSTRALIA --------------------------------------------------------------------- Norseman (10) Australia 100.0% - - - --------------------------------------------------------------------- SUBTOTAL - - - --------------------------------------------------------------------- TOTAL GOLD w/o BLANKET 63,080 0.84 1,711 --------------------------------------------------------------------- Blanket (22) Zimbabwe 100.0% - - - --------------------------------------------------------------------- TOTAL GOLD w BLANKET 63,080 0.84 1,711 ---------------------------------------------------------------------

--------------------------------------------------------------------- SILVER SOUTH AMERICA --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 9,077 34.0 9,916 --------------------------------------------------------------------- SUBTOTAL 9,077 34.0 9,916 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 92 9.3 28 --------------------------------------------------------------------- SUBTOTAL 92 9.3 28 --------------------------------------------------------------------- TOTAL SILVER 9,169 33.7 9,944 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT MEASURED AND INDICATED MINERAL RESOURCES (EXCLUDES PROVEN AND PROBABLE RESERVES) (2,3,4,6,7,8,23) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Indicated Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- GOLD NORTH AMERICA --------------------------------------------------------------------- Fort Knox and area (13) USA 100.0% 24,970 0.74 591 --------------------------------------------------------------------- Round Mtn and area (14) USA 50.0% 21,437 0.57 393 --------------------------------------------------------------------- Porcupine JV (9,12,19) Canada 49.0% 23,473 1.87 1,412 --------------------------------------------------------------------- Aquarius (10) Canada 100.0% - - - --------------------------------------------------------------------- Musselwhite (12,19) Canada 31.9% 427 6.50 89 --------------------------------------------------------------------- Lupin Mine Canada 100.0% 446 9.33 134 --------------------------------------------------------------------- New Britannia Canada 50.0% 1,066 5.14 176 --------------------------------------------------------------------- Kettle River USA 100.0% - - - --------------------------------------------------------------------- George-Goose Lake (10) Canada 100.0% 2,842 11.78 1,076 --------------------------------------------------------------------- SUBTOTAL 74,660 1.61 3,871 ---------------------------------------------------------------------

--------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- Paracatu Brazil 100.0% 647 0.31 6 --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 5,033 1.09 176 --------------------------------------------------------------------- Refugio Chile 50.0% 11,616 0.68 256 --------------------------------------------------------------------- Crixas (11,18) Brazil 50.0% 193 5.80 36 --------------------------------------------------------------------- Gurupi (10, 21) Brazil 100.0% 53,283 1.11 1,907 --------------------------------------------------------------------- SUBTOTAL 70,772 1.05 2,380 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% - - - --------------------------------------------------------------------- SUBTOTAL - - - --------------------------------------------------------------------- AUSTRALIA --------------------------------------------------------------------- Norseman (10) Australia 100.0% 1,482 2.55 122 --------------------------------------------------------------------- SUBTOTAL 1,482 2.55 122 --------------------------------------------------------------------- TOTAL GOLD w/o BLANKET 146,914 1.35 6,373 --------------------------------------------------------------------- Blanket (22) Zimbabwe 100.0% 724 4.35 101 --------------------------------------------------------------------- TOTAL GOLD w BLANKET 147,638 1.36 6,474 ---------------------------------------------------------------------

--------------------------------------------------------------------- SILVER SOUTH AMERICA --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 5,033 35.2 5,695 --------------------------------------------------------------------- SUBTOTAL 5,033 35.2 5,695 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% - - - --------------------------------------------------------------------- SUBTOTAL - - - --------------------------------------------------------------------- TOTAL SILVER 5,033 35.2 5,695 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT MEASURED AND INDICATED MINERAL RESOURCES (EXCLUDES PROVEN AND PROBABLE RESERVES) (2,3,4,6,7,8,23) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Measured and Indicated Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- GOLD NORTH AMERICA --------------------------------------------------------------------- Fort Knox and area (13) USA 100.0% 36,897 0.71 842 --------------------------------------------------------------------- Round Mtn and area (14) USA 50.0% 36,186 0.53 620 --------------------------------------------------------------------- Porcupine JV (9,12,19) Canada 49.0% 26,515 1.96 1,668 --------------------------------------------------------------------- Aquarius (10) Canada 100.0% - - - --------------------------------------------------------------------- Musselwhite (12,19) Canada 31.9% 922 5.12 152 --------------------------------------------------------------------- Lupin Mine Canada 100.0% 446 9.33 134 --------------------------------------------------------------------- New Britannia Canada 50.0% 1,106 5.12 182 --------------------------------------------------------------------- Kettle River USA 100.0% - - - --------------------------------------------------------------------- George-Goose Lake (10) Canada 100.0% 2,842 11.78 1,076 --------------------------------------------------------------------- SUBTOTAL 104,913 1.39 4,674 ---------------------------------------------------------------------

--------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- Paracatu Brazil 100.0% 2,292 0.30 22 --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 14,110 0.97 442 --------------------------------------------------------------------- Refugio Chile 50.0% 33,304 0.74 797 --------------------------------------------------------------------- Crixas (11,18) Brazil 50.0% 517 6.62 110 --------------------------------------------------------------------- Gurupi (10, 21) Brazil 100.0% 53,283 1.11 1,907 --------------------------------------------------------------------- SUBTOTAL 103,505 0.98 3,277 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 92 3.89 12 --------------------------------------------------------------------- SUBTOTAL 92 3.89 12 --------------------------------------------------------------------- AUSTRALIA --------------------------------------------------------------------- Norseman (10) Australia 100.0% 1,482 2.55 122 --------------------------------------------------------------------- SUBTOTAL 1,482 2.55 122 --------------------------------------------------------------------- TOTAL GOLD w/o BLANKET 209,993 1.20 8,084 --------------------------------------------------------------------- Blanket (22) Zimbabwe 100.0% 724 4.35 101 --------------------------------------------------------------------- TOTAL GOLD w BLANKET 210,717 1.21 8,186 ---------------------------------------------------------------------

--------------------------------------------------------------------- SILVER SOUTH AMERICA --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 14,110 34.4 15,612 --------------------------------------------------------------------- SUBTOTAL 14,110 34.4 15,612 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 92 9.3 28 --------------------------------------------------------------------- SUBTOTAL 92 9.3 28 --------------------------------------------------------------------- TOTAL SILVER 14,202 34.3 15,639 ---------------------------------------------------------------------

    MINERAL RESERVE AND RESOURCE STATEMENT

    (1) Unless otherwise noted, the Company's reserves are estimated using appropriate cut-off grades derived from an assumed gold price of $US 350 per oz, and a silver price of $US 5.50 per oz. Reserves are estimated using current and/or projected process recoveries, operating costs and mine plans that are unique to each property and include estimated allowances for dilution and mining recovery.

    (2) Unless otherwise noted, the Company's resources are estimated using appropriate cut-off grades derived at a gold price of $US 400 per oz and a silver price of $US 5.50 per oz.

    (3) The Company's reserves and resources as at December 31, 2004 are classified in accordance with the Canadian Institute of Mining Metallurgy and Petroleum's "CIM Standards on Mineral Resources and Reserves, Definition and Guidelines" as per Canadian Securities Administrator's National Instrument 43-101 ("the Instrument") requirements.

    (4) Cautionary note to US Investors concerning estimates of measured, indicated and inferred resources. US Investors are advised that use of the terms "measured resource", "indicated resource " and "inferred resource" are recognized and required by Canadian Securities regulations. These terms are not recognized by the U.S. Securities and Exchange Commission.

    U.S. investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into reserves.

    (5) The mineral reserves presented herein comply with the reserve categories of Industry Guide 7 applied in the United States by the Securities and Exchange Commission.

    (6) Mineral resource and reserve estimates completed under the supervision of Mr. R. Cooper, P. Eng, an officer of Kinross, who is a qualified person as defined by Canada's National Instrument 43-101.

    (7)The Company's normal data verification procedures have been used in collecting, compiling, interpreting and processing the data used to estimate reserves and resources. Independent data verification has not been performed.

    (8) Resources, unlike reserves, do not have demonstrated economic viability.

    (9) Includes the Pamour deposit which is subject to permitting from Canadian authorities. Permits are required to mine south of highway 101, which is outside the phase one mine plan. There is a high level of assurance that the project will receive all of the permits required to complete development.

    (10) Undeveloped property, development assumes successful permitting allowing mining operations to be conducted.

    (11) Operated by AngloGold Ltd.

    (12) Operated by Placer Dome Inc.

    (13) Includes mineral reserves and resources from the undeveloped Gil and Ryan Lode deposits, both are part of the Fort Knox and area. The Company holds a 100% interest in the properties forming the Fort Knox and area except for the Gil property in which the Company holds an 80% interest.

    (14) Includes mineral reserves and resources from the undeveloped Gold Hill deposit, exploitation of which is dependent on successful permitting.

    (15) Includes mineral reserves and resources from the undeveloped Puren Norte deposit, exploitation of which is dependent on successful permitting.

    (16) Includes mineral reserves and resources from the Birkachan deposit. Open pit mining at Birkachan has been approved, underground mining remains to be permitted by Russian authorities.

    (17) Includes mineral reserves and resources from the undeveloped Tsokol deposit, exploitation of which is dependent on successful permitting.

    (18) Mineral reserves reported at a gold price of $375 per ounce, mineral resources reported at a gold price of $425 per ounce.

    (19) Mineral reserves reported at a gold price of $350 per ounce, mineral resources reported at a gold price of $425 per ounce.

    (20) Mineral reserves reported at a silver price of $5.00 per ounce, mineral resources reported at a silver price of $6.00 per ounce.

    (21) Feasibility Study currently underway.

    (22) Blanket Mine is not included in Kinross' Financial Disclosure Statements.

    (23) Mineral resource and reserve estimates completed using the following foreign exchange rates:

    $ CAD to $ US 1.35

    Rubles to $US 29.00

    Chilean Peso to $US 575.00

    Brazilian Reais to $US 3.00

    Statement of Inferred Resources

    In addition to the reported measured and indicated resources estimated at a gold price of $400, inferred resources total 132,096,000 tonnes at an average grade of 1.05 grams per tonne gold. Inferred silver resources total 853,000 tonnes at an average grade of 44.1 grams per tonne using a $5.50 silver price.

MINERAL RESERVE AND RESOURCE STATEMENT PROVEN AND PROBABLE MINERAL RESERVES (1,3,5,6,7,23) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Proven Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- GOLD NORTH AMERICA --------------------------------------------------------------------- Fort Knox and area (13) USA 100.0% 64,806 0.74 1,540 --------------------------------------------------------------------- Round Mtn and area (14) USA 50.0% 45,471 0.57 830 --------------------------------------------------------------------- --------------------------------------------------------------------- Porcupine JV (9,12,19) Canada 49.0% 11,005 1.31 463 --------------------------------------------------------------------- Aquarius (10) Canada 100.0% - - - --------------------------------------------------------------------- Musselwhite (12,19) Canada 31.9% 1,897 5.61 342 --------------------------------------------------------------------- Lupin Mine Canada 100.0% 33 8.47 9 --------------------------------------------------------------------- New Britannia Canada 50.0% - - - --------------------------------------------------------------------- Kettle River USA 100.0% 169 9.98 54 --------------------------------------------------------------------- SUBTOTAL 123,380 0.82 3,238 ---------------------------------------------------------------------

SOUTH AMERICA --------------------------------------------------------------------- Paracatu Brazil 100.0% 427,592 0.44 6,041 --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 9,159 1.25 369 --------------------------------------------------------------------- Refugio Chile 50.0% 69,420 0.85 1,895 --------------------------------------------------------------------- Crixas (11, 18) Brazil 50.0% 1,386 6.13 273 --------------------------------------------------------------------- SUBTOTAL 507,556 0.53 8,578 ---------------------------------------------------------------------

ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 424 3.55 48 --------------------------------------------------------------------- SUBTOTAL 424 3.55 48 --------------------------------------------------------------------- TOTAL w/o BLANKET 631,360 0.58 11,864 --------------------------------------------------------------------- Blanket (22) Zimbabwe 100.0% 728 4.23 99 --------------------------------------------------------------------- TOTAL w BLANKET 632,088 0.59 11,963 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT PROVEN AND PROBABLE MINERAL RESERVES (1,3,5,6,7,23) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Probable Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- GOLD NORTH AMERICA --------------------------------------------------------------------- Fort Knox and area (13) USA 100.0% 72,088 0.91 2,120 --------------------------------------------------------------------- Round Mtn and area (14) USA 50.0% 33,439 0.66 707 --------------------------------------------------------------------- Porcupine JV (9,12,19) Canada 49.0% 23,072 1.65 1,223 --------------------------------------------------------------------- Aquarius (10) Canada 100.0% 15,017 2.16 1,042 --------------------------------------------------------------------- Musselwhite (12,19) Canada 31.9% 1,447 5.70 265 --------------------------------------------------------------------- Lupin Mine Canada 100.0% - - - --------------------------------------------------------------------- New Britannia Canada 50.0% - - - --------------------------------------------------------------------- Kettle River USA 100.0% - - - --------------------------------------------------------------------- SUBTOTAL 145,062 1.15 5,357 --------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- Paracatu Brazil 100.0% 179,112 0.42 2,444 --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 4,089 1.04 137 --------------------------------------------------------------------- Refugio Chile 50.0% 24,944 0.74 596 --------------------------------------------------------------------- Crixas (11, 18) Brazil 50.0% 683 7.22 159 --------------------------------------------------------------------- SUBTOTAL 208,828 0.50 3,335 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 662 10.29 219 --------------------------------------------------------------------- SUBTOTAL 662 10.29 219 --------------------------------------------------------------------- TOTAL w/o BLANKET 354,553 0.78 8,911 --------------------------------------------------------------------- Blanket (22) Zimbabwe 100.0% 1,605 4.24 219 --------------------------------------------------------------------- TOTAL w BLANKET 356,158 0.80 9,130 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT PROVEN AND PROBABLE MINERAL RESERVES (1,3,5,6,7,23) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Proven and Property Location Kinross Probable Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- GOLD NORTH AMERICA (13) --------------------------------------------------------------------- Fort Knox and area USA 100.0% 136,893 0.83 3,660 --------------------------------------------------------------------- Round Mtn and area (14) USA 50.0% 78,910 0.61 1,538 --------------------------------------------------------------------- Porcupine JV (9,12,19) Canada 49.0% 34,077 1.54 1,685 --------------------------------------------------------------------- Aquarius (10) Canada 100.0% 15,017 2.16 1,042 --------------------------------------------------------------------- Musselwhite (12,19) Canada 31.9% 3,343 5.65 607 --------------------------------------------------------------------- Lupin Mine Canada 100.0% 33 8.47 9 --------------------------------------------------------------------- New Britannia Canada 50.0% - - - --------------------------------------------------------------------- Kettle River USA 100.0% 169 9.98 54 --------------------------------------------------------------------- SUBTOTAL 268,442 1.00 8,595 --------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- Paracatu Brazil 100.0% 606,704 0.43 8,485 --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 13,248 1.19 506 --------------------------------------------------------------------- Refugio Chile 50.0% 94,364 0.82 2,491 --------------------------------------------------------------------- Crixas (11, 18) Brazil 50.0% 2,069 6.49 432 --------------------------------------------------------------------- SUBTOTAL 716,384 0.52 11,913 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 1,086 7.66 267 --------------------------------------------------------------------- SUBTOTAL 1,086 7.66 267 --------------------------------------------------------------------- TOTAL w/o BLANKET 985,912 0.66 20,775 --------------------------------------------------------------------- Blanket (22) Zimbabwe 100.0% 2,333 4.24 318 --------------------------------------------------------------------- TOTAL w BLANKET 988,245 0.66 21,093 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT PROVEN AND PROBABLE MINERAL RESERVES (1,3,5,6,7) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Proven Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- SILVER SOUTH AMERICA La Coipa (12,15,19,20) Chile 50.0% 9,159 68.1 20,044 --------------------------------------------------------------------- SUBTOTAL 9,159 68.1 20,044 ---------------------------------------------------------------------

ASIA Kubaka and area (16,17) Russia 98.1% 424 9.0 123 --------------------------------------------------------------------- SUBTOTAL 424 9.0 123 ---------------------------------------------------------------------

--------------------------------------------------------------------- TOTAL SILVER 9,583 65.5 20,167 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT PROVEN AND PROBABLE MINERAL RESERVES (1,3,5,6,7) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Probable Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- SILVER SOUTH AMERICA --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 4,089 94.6 12,437 --------------------------------------------------------------------- SUBTOTAL 4,089 94.6 12,437 ---------------------------------------------------------------------

ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 662 12.2 259 --------------------------------------------------------------------- SUBTOTAL 662 12.2 259 ---------------------------------------------------------------------

--------------------------------------------------------------------- TOTAL SILVER 4,751 83.1 12,696 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT PROVEN AND PROBABLE MINERAL RESERVES (1,3,5,6,7) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Proven and Property Location Kinross Probable Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- SILVER SOUTH AMERICA --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 13,248 76.3 32,480 --------------------------------------------------------------------- SUBTOTAL 13,248 76.3 32,480 ---------------------------------------------------------------------

ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 1,086 10.9 382 --------------------------------------------------------------------- SUBTOTAL 1,086 10.9 382 ---------------------------------------------------------------------

--------------------------------------------------------------------- TOTAL SILVER 14,334 71.3 32,863 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT MEASURED AND INDICATED MINERAL RESOURCES (EXCLUDES PROVEN AND PROBABLE RESERVES) (2,3,4,6,7,8,23) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Measured Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- GOLD NORTH AMERICA --------------------------------------------------------------------- Fort Knox and area (13) USA 100.0% 7,654 0.74 182 --------------------------------------------------------------------- Round Mtn and area (14) USA 50.0% 17,869 0.47 272 --------------------------------------------------------------------- Porcupine JV (9,12,19) Canada 49.0% 3,043 2.62 256 --------------------------------------------------------------------- Aquarius (10) Canada 100.0% - - - --------------------------------------------------------------------- Musselwhite (12,19) Canada 31.9% 496 3.94 63 --------------------------------------------------------------------- Lupin Mine Canada 100.0% - - - --------------------------------------------------------------------- New Britannia Canada 50.0% 50 4.80 8 --------------------------------------------------------------------- Kettle River USA 100.0% - - - --------------------------------------------------------------------- George-Goose Lake (10) Canada 100.0% - - - --------------------------------------------------------------------- SUBTOTAL 29,112 0.83 781 ---------------------------------------------------------------------

--------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- Paracatu Brazil 100.0% 166 0.39 2 --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 9,077 0.91 266 --------------------------------------------------------------------- Refugio Chile 50.0% 15,412 0.69 340 --------------------------------------------------------------------- Crixas (11,18) Brazil 50.0% 324 7.10 74 --------------------------------------------------------------------- Gurupi (10, 21) Brazil 100.0% - - - --------------------------------------------------------------------- SUBTOTAL 24,978 0.85 682 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 92 3.89 12 --------------------------------------------------------------------- SUBTOTAL 92 3.89 12 --------------------------------------------------------------------- AUSTRALIA --------------------------------------------------------------------- Norseman (10) Australia 100.0% - - - --------------------------------------------------------------------- SUBTOTAL - - - --------------------------------------------------------------------- TOTAL GOLD w/o BLANKET 54,182 0.85 1,474 --------------------------------------------------------------------- Blanket (22) Zimbabwe 100.0% - - - --------------------------------------------------------------------- TOTAL GOLD w BLANKET 54,182 0.85 1,474 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT MEASURED AND INDICATED MINERAL RESOURCES (EXCLUDES PROVEN AND PROBABLE RESERVES) (2,3,4,6,7,8,23) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Indicated Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- GOLD NORTH AMERICA --------------------------------------------------------------------- Fort Knox and area (13) USA 100.0% 19,562 0.84 527 --------------------------------------------------------------------- Round Mtn and area (14) USA 50.0% 43,266 0.55 759 --------------------------------------------------------------------- Porcupine JV (9,12,19) Canada 49.0% 23,473 1.87 1,412 --------------------------------------------------------------------- Aquarius (10) Canada 100.0% - - - --------------------------------------------------------------------- Musselwhite (12,19) Canada 31.9% 427 6.50 89 --------------------------------------------------------------------- Lupin Mine Canada 100.0% 446 9.33 134 --------------------------------------------------------------------- New Britannia Canada 50.0% 1,213 4.87 190 --------------------------------------------------------------------- Kettle River USA 100.0% - - - --------------------------------------------------------------------- George-Goose Lake (10) Canada 100.0% 3,166 11.05 1,125 --------------------------------------------------------------------- SUBTOTAL 91,553 1.44 4,236 ---------------------------------------------------------------------

--------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- Paracatu Brazil 100.0% 123 0.29 1 --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 5,033 1.09 176 --------------------------------------------------------------------- Refugio Chile 50.0% 12,252 0.66 259 --------------------------------------------------------------------- Crixas (11,18) Brazil 50.0% 193 5.80 36 --------------------------------------------------------------------- Gurupi (10, 21) Brazil 100.0% 53,283 1.11 1,907 --------------------------------------------------------------------- SUBTOTAL 70,884 1.04 2,378 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% - - - --------------------------------------------------------------------- SUBTOTAL - - - --------------------------------------------------------------------- AUSTRALIA --------------------------------------------------------------------- Norseman (10) Australia 100.0% 2,490 2.29 183 --------------------------------------------------------------------- SUBTOTAL 2,490 2.29 183 --------------------------------------------------------------------- TOTAL GOLD w/o BLANKET 164,927 1.28 6,798 --------------------------------------------------------------------- Blanket (22) Zimbabwe 100.0% 807 4.10 106 --------------------------------------------------------------------- TOTAL GOLD w BLANKET 165,734 1.30 6,904 ---------------------------------------------------------------------

MINERAL RESERVE AND RESOURCE STATEMENT MEASURED AND INDICATED MINERAL RESOURCES (EXCLUDES PROVEN AND PROBABLE RESERVES) (2,3,4,6,7,8,23) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Measured and Indicated Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- GOLD NORTH AMERICA --------------------------------------------------------------------- Fort Knox and area (13) USA 100.0% 27,216 0.81 709 --------------------------------------------------------------------- Round Mtn and area (14) USA 50.0% 61,135 0.52 1,031 --------------------------------------------------------------------- Porcupine JV (9,12,19) Canada 49.0% 26,515 1.96 1,668 --------------------------------------------------------------------- Aquarius (10) Canada 100.0% - - - --------------------------------------------------------------------- Musselwhite (12,19) Canada 31.9% 922 5.12 152 --------------------------------------------------------------------- Lupin Mine Canada 100.0% 446 9.33 134 --------------------------------------------------------------------- New Britannia Canada 50.0% 1,262 4.88 198 --------------------------------------------------------------------- Kettle River USA 100.0% - - - --------------------------------------------------------------------- George-Goose Lake (10) Canada 100.0% 3,166 11.05 1,125 --------------------------------------------------------------------- SUBTOTAL 120,664 1.29 5,017 ---------------------------------------------------------------------

--------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- Paracatu Brazil 100.0% 289 0.29 3 --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 14,110 0.97 442 --------------------------------------------------------------------- Refugio Chile 50.0% 27,663 0.67 599 --------------------------------------------------------------------- Crixas (11,18) Brazil 50.0% 517 6.62 110 --------------------------------------------------------------------- Gurupi (10, 21) Brazil 100.0% 53,283 1.11 1,907 --------------------------------------------------------------------- SUBTOTAL 95,862 0.99 3,060 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 92 3.89 12 --------------------------------------------------------------------- SUBTOTAL 92 3.89 12 --------------------------------------------------------------------- AUSTRALIA --------------------------------------------------------------------- Norseman (10) Australia 100.0% 2,490 2.29 183 --------------------------------------------------------------------- SUBTOTAL 2,490 2.29 183 --------------------------------------------------------------------- TOTAL GOLD w/o BLANKET 219,108 1.17 8,272 --------------------------------------------------------------------- Blanket (22) Zimbabwe 100.0% 807 4.10 106 --------------------------------------------------------------------- TOTAL GOLD w BLANKET 219,915 1.19 8,379 ---------------------------------------------------------------------

--------------------------------------------------------------------- MINERAL RESERVE AND RESOURCE STATEMENT MEASURED AND INDICATED MINERAL RESOURCES (EXCLUDES PROVEN AND PROBABLE RESERVES) (2,3,4,6,7,8) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Measured Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- SILVER --------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 9,077 34.0 9,916 --------------------------------------------------------------------- SUBTOTAL 9,077 34.0 9,916 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 92 9.3 28 --------------------------------------------------------------------- SUBTOTAL 92 9.3 28 --------------------------------------------------------------------- TOTAL SILVER 9,169 33.7 9,944 ---------------------------------------------------------------------

--------------------------------------------------------------------- MINERAL RESERVE AND RESOURCE STATEMENT MEASURED AND INDICATED MINERAL RESOURCES (EXCLUDES PROVEN AND PROBABLE RESERVES) (2,3,4,6,7,8) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Indicated Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- SILVER --------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 5,033 35.2 5,695 --------------------------------------------------------------------- SUBTOTAL 5,033 35.2 5,695 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% - - - --------------------------------------------------------------------- SUBTOTAL - - - --------------------------------------------------------------------- TOTAL SILVER 5,033 35.2 5,695 ---------------------------------------------------------------------

--------------------------------------------------------------------- MINERAL RESERVE AND RESOURCE STATEMENT MEASURED AND INDICATED MINERAL RESOURCES (EXCLUDES PROVEN AND PROBABLE RESERVES) (2,3,4,6,7,8) Kinross Gold Corporation's Share at December 31, 2004 --------------------------------------------------------------------- Property Location Kinross Measured and Indicated Interest Tonnes Grade Ounces (%) (,000) (g/t) (000s) --------------------------------------------------------------------- SILVER --------------------------------------------------------------------- SOUTH AMERICA --------------------------------------------------------------------- La Coipa (12,15,19,20) Chile 50.0% 14,110 34.4 15,612 --------------------------------------------------------------------- SUBTOTAL 14,110 34.4 15,612 --------------------------------------------------------------------- ASIA --------------------------------------------------------------------- Kubaka and area (16,17) Russia 98.1% 92 9.3 28 --------------------------------------------------------------------- SUBTOTAL 92 9.3 28 --------------------------------------------------------------------- TOTAL SILVER 14,202 34.3 15,639 ---------------------------------------------------------------------

    MINERAL RESERVE AND RESOURCE STATEMENT

    (1) Unless otherwise noted, the Company's reserves are estimated using appropriate cut-off grades derived from an assumed gold price of $US 400 per oz, and a silver price of $US 5.50 per oz. Reserves are estimated using current and/or projected process recoveries, operating costs and mine plans that are unique to each property and include estimated allowances for dilution and mining recovery.

    (2) Unless otherwise noted, the Company's resources are estimated using appropriate cut-off grades derived at a gold price of $US 450 per oz and a silver price of $US 5.50 per oz.

    (3) The Company's reserves and resources as at December 31, 2004 are classified in accordance with the Canadian Institute of Mining Metallurgy and Petroleum's "CIM Standards on Mineral Resources and Reserves, Definition and Guidelines" as per Canadian Securities Administrator's National Instrument 43-101 ("the Instrument") requirements.

    (4) Cautionary note to US Investors concerning estimates of measured, indicated and inferred resources. US Investors are advised that use of the terms "measured resource", "indicated resource " and "inferred resource" are recognized and required by Canadian Securities regulations. These terms are not recognized by the U.S. Securities and Exchange Commission. U.S. investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into reserves.

    (5) The mineral reserves presented herein comply with the reserve categories of Industry Guide 7 applied in the United States by the Securities and Exchange Commission.

    (6) Mineral resource and reserve estimates completed under the supervision of Mr. R. Cooper, P. Eng, an officer of Kinross, who is a qualified person as defined by Canada's National Instrument 43-101.

    (7) The Company's normal data verification procedures have been used in collecting, compiling, interpreting and processing the data used to estimate reserves and resources. Independent data verification has not been performed.

    (8) Resources, unlike reserves, do not have demonstrated economic viability.

    (9) Includes the Pamour deposit which is subject to permitting from Canadian authorities. Permits are required to mine south of highway 101, which is outside the phase one mine plan. There is a high level of assurance that the project will receive all of the permits required to complete development.

    (10) Undeveloped property, development assumes successful permitting allowing mining operations to be conducted.

    (11) Operated by AngloGold Ltd.

    (12) Operated by Placer Dome Inc.

    (13) Includes mineral reserves and resources from the undeveloped Gil and Ryan Lode deposits, both are part of the Fort Knox and area. The Company holds a 100% interest in the properties forming the Fort Knox and area except for the Gil property in which the Company holds an 80% interest.

    (14) Includes mineral reserves and resources from the undeveloped Gold Hill deposit, exploitation of which is dependent on successful permitting.

    (15) Includes mineral reserves and resources from the undeveloped Puren Norte deposit, exploitation of which is dependent on successful permitting.

    (16) Includes mineral reserves and mineral resources from the Birkachan deposit. Open pit mining at Birkachan has been approved, underground mining remains to be permitted by Russian authorities.

    (17) Includes mineral reserves and resources from the undeveloped Tsokol deposit, exploitation of which is dependent on successful permitting.

    (18) Mineral reserves reported at a gold price of $375 per ounce, mineral resources reported at a gold price of $425 per ounce.

    (19) Mineral reserves reported at a gold price of $350 per ounce, mineral resources reported at a gold price of $425 per ounce.

    (20) Mineral reserves reported at a silver price of $5.00 per ounce, mineral resources reported at a silver price of $6.00 per ounce.

    (21) Feasibility Study currently underway.

    (22) Blanket Mine is not included in Kinross' Financial Disclosure Statements.

    (23) Mineral resource and reserve estimates completed using the following foreign exchange rates:

    $CAD to $ US 1.35

    Rubles to $US 29.00

    Chilean Peso to $US 575.00

    Brazilian Reais to $US 3.00

    Statement of Inferred Resources

    In addition to the reported measured and indicated resources estimated at a gold price of $450, inferred resources total 336,836,000 tonnes at an average grade of 0.69 grams per tonne gold. Inferred silver resources total 853,000 tonnes at an average grade of 44.1 grams per tonne using a $5.50 silver price.



    Kinross Gold Corporation (TSX:K) (NYSE:KGC)

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CONTACT: Kinross Gold Corporation Christopher T. Hill Vice President - Investor Relations (416) 365-7254 OR Kinross Gold Corporation Tracey M. Thom Manager - Investor Relations (416) 365-1362 info@kinross.com

KEYWORD: NEW YORK INTERNATIONAL CANADA INDUSTRY KEYWORD: MINING/METALS SOURCE: Kinross Gold Corporation

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