Toronto, Ontario - Kinross Gold Corporation (TSX-K
and NYSE-KGC) ("Kinross") announces that it has issued 6,726,734
shares upon the exercise of the Echo Bay Mines Ltd. ("Echo Bay")
common share purchase warrants ("warrants"), which expired on
November 14, 2003, for net proceeds of US$34.9 million. Kinross
acquired the obligation for these warrants through its acquisition
of Echo Bay on January 31, 2003. Under the terms of the warrant
indenture, issued on May 9, 2002, amended to take into account the
Kinross, Echo Bay and TVX Gold Inc. combination, one Echo Bay
warrant plus US$0.90 were required to convert into 0.1733 common
shares of Kinross.