TORONTO, Ontario - August 5, 2010 - Kinross
Gold Corporation has been advised that its application to acquire
100% of the shares of Northern Gold, the owner of the Dvoinoye gold
and silver deposit in the Chukotka Autonomous Okrug, has been
approved by the Russian Federation's State Commission for the
Control of Foreign Investments.
Kinross announced an agreement in principle to acquire Northern
Gold LLC and Regionruda LLC, the owner of the Vodorazdelnaya
property exploration and mining license, on January 20, 2010,
subject among other conditions to approval of foreign ownership of
Dvoinoye as a strategic deposit by the Russian Government.
Once the Commission's official decision of the meeting held on
August 4 has been released, Kinross will begin procedures for
completion of the transaction.