Toronto, Ontario -- KINROSS GOLD CORPORATION (TSE-K; NYSE-KGC) & KINAM GOLD INC. (KGCPrB) announced today that effective immediately, mining in the open pit is being idled at the Refugio Mine in Chile. Kinross is taking this decision in its capacity as the operator to conserve cash in light of the decision of Bema Gold Corporation to not fund recent cash calls and continued weak gold prices. Bema disputes Kinross' right to make this decision.

Crushing operations at Refugio will continue processing the broken rock inventory for the next few days as the operation is prepared to enter a residual leach mode. Production of gold will continue during residual leaching as the in-process inventory is reduced.