Toronto, Ontario

Toronto, Ontario - KINROSS GOLD CORPORATION (TSE-K; NYSE-KGC) announced today that the business combination by way of arrangement of La Teko Resources Ltd. ("La Teko") and LT Acquisition Inc. ("LT Acquisition"), a wholly-owned subsidiary of Kinross became effective February 26, 1999.

"We are confident this transaction will benefit Kinross" stated Chairman and Chief Executive Officer Bob Buchan. "It underlines the Company's commitment to Alaska in general and to the Fort Knox mine in particular. Over time the mine should become one of the largest gold producers in the United States".

As a result of the amalgamation, each of the outstanding publicly held common shares of La Teko will be acquired by LT Acquisition in exchange for the issuance of 0.44444 common shares of Kinross. As a result of this transaction an additional 10.5 million shares will be issued for a total number of outstanding shares at 302.4 million. No fractional Kinross shares will be issued in the Arrangement.

Letters of transmittal requesting La Teko shareholders to deliver their share certificates to Montreal Trust Company in exchange for common shares of Kinross are expected to be mailed today.

Kinross is a producer of precious metals with mines and property interests located in the U.S.A., Canada, Chile, Russia and Zimbabwe.

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