Toronto, Ontario - Kinross Gold Corporation (TSE-K; NYSE-KGC) reports that following a routine longhole production blast in a stope between the 6400 and 6600 foot levels early Saturday, April 12, 1997 at the Macassa Mine in Kirkland Lake, Ontario, a series of rock bursts occurred in the Number 3 shaft area. There were no injuries to personnel.

A preliminary assessment of the damage to the shaft indicated that it was not usable between the 5700 and 6000 foot levels. Regular underground production shifts have been cancelled until further notice in order to allow for a review of the extent of the damage to the Number 3 shaft and an inspection of other mine workings. During the assessment period some mine production personnel will be
temporarily laid off.

For the next two weeks, mill production will be maintained at full capacity from stockpiled Macassa ore and custom mill feed supplied by two mines in the vicinity. It is not yet possible to determine how long Macassa mine production will be interrupted and hence to determine the ultimate impact on the previously budgeted 1997 production level of 91,000 ounces of gold at a cash operating cost of approximately US$ 250 per ounce. Once additional information is available it will be released.

This document 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's expectations are disclosed under the heading "Risk  Factors" and elsewhere in Kinross's documents filed from time to time with The Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities.

Cautionary Statement on Forward-Looking Information