Toronto, Ontario –

Kinross Gold Corporation ("Kinross"; TSE-K; Amex-KGC)

and

Kinam Gold

Inc. ("Kinam"; Amex-KGC^B)

announced today that Kinross is extending its cash tender offer of

$16.00 per share for Kinam's $3.75 Series B Convertible Preferred Shares not already owned by

Kinross until Midnight Eastern Time on March 28, 2002. In connection with this extension, Kinross is

mailing additional offering materials to the holders of the Kinam Preferred Stock. Through 5:00 p.m.

Eastern Time on March 20, 2002, approximately 652,000 shares of Kinam Preferred Stock had been

tendered into the Kinross offer. There are 1,840,000 shares of Kinam Preferred Stock issued and

outstanding of which 945,400 shares were held by Kinross prior to the commencement of this tender

offer

-30-

Gordon A. McCreary,

Vice-President, Investor Relations and Corporate Development

Tel. (416) 365-5132

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