September 18, 1998

Toronto, Ontario -

KINROSS GOLD CORPORATION (TSE-K; NYSE-KGC)

On September 17, 1998, Bridge News reported that " a senior Russian Finance Ministry official said the

government cannot buy anymore gold this year due to the lack of funds. Head of the ministry’s

precious metals department Sergei Samoshin said producers are now free to sell all gold they have on

the market."

Kinross, 50% owner and operator of the Kubaka mine in the Russian Far East, has made its first gold

export as a result of the Russian government’s inability to purchase the gold through its right of first

refusal. Under the export arrangement, 50% of the proceeds of gold exports are to be repatriated to

Russia and will be used to pay in country costs as per previous gold sales with Gokhran, the Russian

government agency.

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 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 New York Stock

Exchange, the United States Securities and Exchange Commission and other regulatory authorities.

-30-

For further 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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