Kinross and Echo Bay Announce Expiry of Echo Bay’s Warrants

Toronto, Ontario, October 21, 2003… Kinross Gold Corporation (TSX – K; NYSE – KGC) (“Kinross”) and

Echo Bay Mines Ltd. (TSX and AMEX – ECO.WT) (“Echo Bay”) wish to confirm that Echo Bay’s common

share purchase warrants (the “Warrants”) issued on May 17, 2002, will expire on November 14, 2003

in accordance with their terms. On January 31, 2003, Echo Bay became a wholly owned subsidiary of

Kinross. Each Warrant is exercisable for 0.1733 of a common share of Kinross at an exercise price of US

$0.90 for each Warrant so exercised. The Warrants may be exercised at any time on or before 5:00 p.

m. (Toronto time) on November 14, 2003. To exercise the Warrants, certificates should be submitted

to Computershare Trust Company of Canada (“Computershare”) along with payment for the full

exercise price made payable to Echo Bay Mines Ltd. For further information regarding the Warrant

exercise procedure refer to the Warrant Indenture or contact Computershare at 1-800-564-6253.

For further information contact:

Robert M. Buchan

President and Chief Executive Officer

Tel. (416) 365-5650

Gordon A. McCreary

Vice President Corporate Affairs

Tel. (416) 365-5132

Carl B. Hansen

Director Investor Relations

Tel: (416) 365-5673

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