Toronto, Ontario - KINROSS GOLD CORPORATION (TSE-K; NYSE-KGC) announced today that results for the three months and nine months ended September 30, 1999 are as follows:

Finanacial and Production Tables - PDF format All results are expressed in United States Dollars unless otherwise stated.

Kinross provides the following detail regarding the Company's performance during the third quarter of 1999.

Although the average spot price of gold was $259 per ounce compared to $289 in 1998, cash flow provided from operations for the third quarter was $17.0 million, compared to $17.8 million in 1998. Gold equivalent production for the third quarter was 257,331 ounces at total cash costs of $193 per ounce. Net loss for the three months ended September 30, 1999 was $11.4 million, five cents per share, on revenues of $79.7 million, compared with a net loss for the third quarter of 1998 of $10.2 million, six cents per share, on revenues of $87.0 million.

Total cash costs were $193 per ounce of gold equivalent in the quarter, down from the 1998 third quarter costs of $210 per ounce. Cash flow provided from operations was $17.0 million, six cents per share, compared to $17.8 million, nine cents per share in the same period of 1998. Net loss for the nine months ended September 30, 1999 was $36.1 million, fourteen cents per share, on revenues of $236.2 million, compared with a net loss for the first nine months of 1998 of $9.9 million, eight cents per share on revenues of $193.6 million.

Total cash costs were $194 per ounce of gold equivalent in the first nine months, down from $218 per ounce of gold equivalent in the same period of 1998. Cash flow provided from operations for the first nine months of 1999 was $47.6 million, sixteen cents per share, compared to $37.8 million, nineteen cents per share in the same period of 1998. Included in the results of operations for the nine months ended September 30, 1999 are $5.0 million, or two cents per share of unusual charges. These charges resulted from severance obligation associated with the decision to place the Macassa mine on care and maintenance and a contract termination fee associated with the termination of the surface mining contract at the Refugio mine.

Gold equivalent production for the third quarter was 257,331 ounces, for a nine-month total of 759,642 ounces. The Company is on track to produce in excess of one million ounces of gold equivalent in 1999. The Company's gold hedging program enabled the Company to realize an average price of $300 and $299 per ounce for the third quarter and nine months respectively, compared with average spot prices of $259 and $273 for the third quarter and nine months respectively.

Cautionary Statement on Forward-Looking Information
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 potential mineralization and reserves, exploration results and future plans and objectives of Kinross Gold Corporation (“Kinross”), 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. 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.