Kinross Gold Corporation and Crown Resources Corporation Execute Acquisition
Agreement
Toronto, Ontario, and Denver, Colorado, November 20, 2003… Kinross Gold Corporation
(TSX-K; NYSE-KGC) ("Kinross") and Crown Resources Corporation (OTCBB-CRCE) ("Crown")
are pleased to announce that the two companies have executed a definitive acquisition agreement (the
“Agreement”) whereby Kinross will acquire Crown and its 100%-owned Buckhorn Mountain gold
deposit located in north central Washington State, USA, approximately 67 kilometres by road from
Kinross' Kettle River gold milling facility.
Under the terms of the Agreement, shareholders of Crown will receive 0.2911 shares of Kinross for
each share of Crown. Assuming all of Crown's warrants, options and convertible debentures are
converted, a total of approximately 13.1 million common shares of Kinross will be issued upon the
completion of the transaction. The transaction is subject to regulatory approvals, a minimum two-thirds
approval at a special meeting of Crown shareholders and other customary closing conditions. Prior to
the completion of the acquisition, Crown will dividend to its shareholders its approximate 38.7% equity
interest in Solitario Resources Corporation (TSX-SLR).
The Buckhorn Mountain gold deposit is a high-grade skarn gold deposit located 240 kilometres
northwest of Spokane, Washington. In late 2002 and early 2003, Crown completed a 41-hole infill
diamond drilling program and has engaged SRK Consulting to update its reserve and mineralized
material estimates incorporating the data from the drilling program.
In addition to signing the Agreement, Kinross, through its wholly-owned subsidiary, Echo Bay Minerals
Company, and Crown signed a toll milling agreement, that allows the Buckhorn Mountain ores to be
milled at Kinross’ Kettle River gold milling facility. The focus of these efforts is to provide flexibility with
permitting and design of a high-grade underground mine that minimizes surface disturbance and
environmental impacts while providing significant economic benefits to the state and local communities.
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 and Crown,
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. Development of Buckhorn Mountain is subject to
the successful completion and implementation of an economically viable mining plan, obtaining the
necessary permits and approvals from various regulatory authorities, and compliance with operating
parameters established by such authorities. Important factors that could cause actual results to differ
materially from Kinross' and Crown's expectations are disclosed under the heading "Risk Factors" and
elsewhere in Kinross' and Crown's documents filed from time to time with the Toronto Stock Exchange,
the United States Securities and Exchange Commission and other regulatory authorities.
Where to Find Additional Information about the Transaction:
This press release is not, and is not intended to be, a solicitation of proxies or an offer of securities.