Toronto, Ontario - Kinross Gold Corporation (TSX-K; NYSE - KGC) ("Kinross") announced today that it has acquired, pursuant to a private placement, 1,000,000 units of Heritage Explorations Ltd. ("Heritage") each unit consisting of one common share and one common share purchase warrant. As a result of this transaction, Kinross holds an aggregate of 1,666,667 common shares and 1,666,667 warrants of Heritage. In the event Kinross exercises all its warrants, it would hold an aggregate of 3,333,334 common shares representing 10.6% of all of the currently issued and outstanding common shares. Kinross has acquired the common shares and the warrants for investment purposes.