Toronto, Ontario -- Kinross Gold Corporation (TSE-K; K.DB) announced today that The Toronto Stock Exchange has accepted for filing a Notice of Intention to Make a Normal Course Issuer Bid for the 5.5% convertible unsecured subordinated debentures of the Corporation. Pursuant to the bid which commences on August 2, 2000, during the next 12 months the Corporation may purchase up to $9,790,015 principal amount of debentures, being 5% of the $195,803,000 currently issued and outstanding principal amount of debentures. All purchases will be made through the facilities of the Exchange and in accordance with the Exchange's rules and by-laws. The debentures purchased pursuant to the bid will be cancelled. The Corporation believes that it may be advantageous to engage in repurchases of common shares and debentures, from time to time, when they are trading at prices which reflect a significant discount from the underlying value of the securities. The Corporation has repurchased $21,000 principal amount of the debentures pursuant to a previous bid during the last 12 months.

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