November 8, 2000
Toronto, Ontario – KINROSS GOLD CORPORATION (TSE-K; NYSE-KGC) & KINAM GOLD INC. (KGCPrB)
announced today that effective immediately, mining in the open pit is being idled at the Refugio Mine in
Chile. Kinross is taking this decision in its capacity as the operator to conserve cash in light of the
decision of Bema Gold Corporation to not fund recent cash calls and continued weak gold prices. Bema
disputes Kinross’ right to make this decision.
Crushing operations at Refugio will continue processing the broken rock inventory for the next few days
as the operation is prepared to enter a residual leach mode. Production of gold will continue during
residual leaching as the in-process inventory is reduced.
This press release includes certain “Forward-Looking Statements” within the meaning of section 21E of
the United States Securities Exchange Act of 1934, as amended. All statements, other than statements
of historical fact, included herein, are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in such statements. These
include fluctuations in the price of gold, the outcome of negotiations with business partners and others
concerning operations, and strategic decisions made by the company in the future. Additional
important factors that could cause actual results to differ materially from Kinross’ expectations are
disclosed under the heading “Risk Factors” and elsewhere in Kinross’ documents filed from time to time
with the Toronto Stock Exchange, the United States Securities and Exchange Commission and other
regulatory authorities.
-30-
For additional information contact:
Robert M. Buchan
Chairman and Chief Executive Officer
Tel.: (416) 365-5650
Gordon A. McCreary
Vice President, Investor Relations and Corporate Development
Tel.: (416) 365-5132
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