Toronto - Kinross Gold Corporation (TSX-K; NYSE-KGC) ("Kinross" or the "Company") today announced that it has entered into a definitive agreement with Caledonia Mining (TSX-CAL) ("Caledonia") to exchange Kinross' Blanket Mine located in Zimbabwe for 20 million common shares of Caledonia and US$1 million in cash. The sale does not impact Kinross' production profile or cash flow in the future as the asset was written down in 2002.

Caledonia is a diversified mining company with gold and PGE exploration in South Africa and base metal and diamond exploration in Zambia.