Kinross Announces Operating Results for 2002 and Increased Ownership of Omolon
Toronto, Canada
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February 19, 2003
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Kinross Gold Corporation (TSX-K; NYSE-KGC)
(“Kinross”)
is making lunch presentations to the Montreal Society of Financial Analysts today and the
Toronto Society of Financial Analysts on February 20, 2003.
Click here for the slide show presentation.
Prior to these presentations, Kinross is releasing the preliminary 2002 operating results for the
following gold mining operations including those acquired in the recently completed combination with
TVX Gold Inc. and Echo Bay Mines Ltd. and the acquisition of the TVX Newmont Americas joint venture.
Gold Mines Currently
Operated by Kinross
(Ownership Interest)
Fort Knox (100%)
Round Mountain (50%)
Kubaka (54.7% see below)
Lupin (100%)
New Brittania (50%)
Kettle River (100%)
Blanket (100%)
Refugio (50%)
Joint Venture Gold Mines
Operated by Other Companies
Porcupine (49%)1
Brasilia (49%)
La Coipa (50%)
Crixas (50%)
Musselwhite (32%)
189,464
110,035
149,284
93,660
66,879
201
167
226
88
228
Pro-forma Attributable 2002 Total Cash Cost per Gold
Gold Equivalent Production
Equivalent Ounce
(Ounces)
(US$ per Ounce)
410,519
377,747
220,972
113,835
53,745
30,626
41,612
13,047
232
207
133
330
202
283
243
186
1. Represents 100% of production from Hoyle Pond to June 30, 2002, 49% of Porcupine JV for the remainder of
2002.
In addition, Kinross is pleased to announce that its Russian subsidiary, Omolon Gold Mining Company
has purchased 25.0% of the shares of Omolon under the terms announced in the Kinross press release
of October 16, 2002. The purchase of the balance of the Omolon shares is in process and will be
reported upon its completion. All of the previously announced lawsuits between Omolon and its Russian
shareholders have been dismissed. Assuming Omolon acquires all of the shares owned by Russians,
Kinross’ ownership of Omolon will increase to 100%.
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