June 13, 2001
Toronto Ontario –
Kinross Gold Corporation (TSE-K; NYSE-KGC)
and its subsidiary, Kinam Gold
Inc. (NYSE-KGC PrB), announce that the New York Stock Exchange (NYSE) has decided today to
proceed with the delisting of the common shares of Kinross and the preferred shares of Kinam on the
NYSE. This action is due solely to the fact that Kinross common shares have been trading at less than
US$1.00 per share and as such Kinross is in contravention of a rule implemented by the NYSE in 1999.
Kinross has appealed this decision by the NYSE and has been informed that Kinross common shares
and Kinam preferred shares will continue to trade on the NYSE until a review is completed by a
Committee of the Board of Directors of the NYSE. Following the review, not anticipated by Kinross
before early August, 2001, a decision by the Committee will be announced as to whether to move
forward with formal NYSE suspension and delisting or to continue trading the securities. Bob Buchan
stated that “as disappointing as this potential NYSE delisting is, Kinross’ primary market for its common
shares is the Toronto Stock Exchange (TSE) with about 80% of the volume compared to about 20% for
the NYSE. In the event that the NYSE proceeds with delisting Kinross will investigate alternate listings
to facilitate the trading of its securities, in addition to maintaining its TSE common share listing.”
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, including
without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives
of Kinross Gold Corporation (“Kinross”), 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. 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.
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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
Brian W. Penny
Vice President, Finance
and Chief Financial Officer
Tel. (416) 365-5662