40 KING STREET WEST, 52

ND

FLOOR

TORONTO, ON M5H 3Y2

TEL: 416 365 5123

FAX: 416 363 6622

TOLL FREE: 866-561-3636

PRESS RELEASE

February 27, 2006

Kinross year end 2005 gold reserves

total 24.7 million ounces

Year-over-year increase caps five years of steady growth

Toronto –

Kinross Gold Corporation (TSX-K; NYSE-KGC) ("Kinross" or the "Company") is

pleased to announce an increase in Proven and Probable reserves to 24.7 million ounces of

gold at December 31, 2005, from 19.4 million ounces in 2004. This marks the fifth consecutive

year that Kinross has increased reserves and represents year-over-year growth of 27 per cent.

“Kinross’ reserve base and average mine life have grown steadily over the past five years and

are reaching new highs,” said Tye Burt, Kinross President and CEO. “Our 2005 exploration

program has been successful in growing our reserve base at year end 2005 to 24.7 million

ounces compared with the 19.4 million ounces reported at year end 2004, including replacing

depletion from the gold produced in 2005.”

Gold reserves and resources:

35,000

30,000

'000 ounces gold

Measured and Indicated

Proven and Probable

25,000

20,000

15,000

10,000

5,000

-

2001

$300/$325

2002

$300/$325

2003

$325/$350

2004

$350/$400

2005

$400/$450

Year

Gold price used to calculate Reserves/Resources

Reconciliation of reserves at year end 2005 compared with year end 2004:

Reserves at Dec. 31, 2004

Less:

Assets sold/reclassified

2005 depletion

Add:

New reserves in 2005

Reserves at Dec. 31, 2005

19.4

(2.0)

(1.8)

9.1

24.7



Following is a discussion on the notable changes to reserves from 2004 to 2005:

•

Further to the November 2005 reported increase of 4.8 million ounces of gold to

reserves at

Paracatu

in Brazil, a further 1.9 million ounces was added at year end 2005.

Taking full year 2005 depletion into account, Paracatu reported reserves almost doubled

year-over-year.

The 59 per cent increase in reserves at

Round Mountain

in Nevada resulted primarily

from the decision to proceed with a pit expansion.

At

Fort Knox

in Alaska, Ryan Lode is no longer in reserves or resources as we have

elected not to make further option payments on that property. The True North and Gil

deposits, also in the Fort Knox area, were reclassified to resources due to changes in

cost assumptions at Fort Knox.

At the

Porcupine Joint Venture

in Timmins, Ontario reserves were replaced on a net

basis.

Reserves at

Refugio

in Chile, increased primarily through the difference in gold price

assumption from 2004 to 2005.

Kinross sold the

Aquarius

project in Timmins, Ontario for an equity stake in St Andrew

Goldfields Ltd., a company with a large land position in Timmins.

Reserves at

La Coipa

in Chile decreased through depletion and the review of the mine

plan following two pit slope events in 2005.

The

Lupin

and

New Britannia

mines in Nunavut and Manitoba, respectively, were both

closed during 2005, as planned, and have been removed from reserves and resources.

We have discontinued reporting reserves for the

Blanket

mine in Zimbabwe, consistent

with our accounting treatment of no longer consolidating its results in our financial

statements.

•

•

•

•

•

•

•

•

Silver reserves at the end of 2005 are 24.4 million ounces estimated using a price of $6 per

ounce. Gold reserves were calculated using a $400 gold price and resources were calculated

using a $450 gold price 2005. Gold reserves and resources for 2004 were calculated using a

$350 and $400 gold price, respectively.

About Kinross Gold Corporation

Kinross, a world-class gold company based in Canada, has since 1993 become the third largest

primary gold producer in North America and the seventh largest in the world. With nine mines in

stable countries including Canada, the United States, Brazil and Chile, Kinross employs more

than 4,000 people worldwide.

Kinross’ strong balance sheet and no-gold hedging policy allow us to take full advantage of

increasing cash flow, revenues and profit margins per ounce of gold. Kinross is focused on a

strategic objective to maximize net asset value and cash flow per share through a four-point

plan built on growth from core operations; expanding capacity for the future; attracting and

retaining the best people in the industry; and driving new opportunities through exploration and

acquisition.

Kinross Reserve and Resource Statement - December 31, 2005

Page

2



Kinross maintains listings on the New York Stock Exchange (symbol:KGC) and on the Toronto

Stock Exchange (symbol:K).

For additional information, e-mail

info@kinross.com

or contact:

Tracey M. Thom

Director, Investor Relations

& Corporate Communications

Tel. (416) 365-1362

Cell (416) 301-9022

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 the Kinross’ financial

statements for its fiscal year ended December 31, 2004, potential mineralization and reserves,

exploration results and future plans and objectives of Kinross Gold Corporation, 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. Any restatement of historical financial statements is dependant on the outcome of the

independent valuation of the acquired assets, and Kinross does not know what that outcome will be.

Other important factors that could cause actual results to differ materially from Kinross’ expectations are

disclosed under the heading “Risk Factors” and elsewhere in Kinross’ most recent Annual Information

Form and other Kinross documents filed from time to time with the Ontario Securities Commission, the

United States Securities and Exchange Commission and other regulatory authorities. All dollar amounts

are expressed in US dollars.

Technical information contained in this press release regarding Kinross’ material mineral properties has

been reviewed by Rod Cooper, Vice President, Technical Services for Kinross, who is a “Qualified

Person” under National Instrument 43-101.

Definitions

A

Mineral Reserve

is the economically mineable part of a Measured or Indicated Mineral Resource

demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information

on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of

reporting, that economic extraction can be justified. A Mineral Reserve includes diluting materials and

allowances for losses that may occur when the material is mined.

A ‘Probable

Mineral Reserve’

is the economically mineable part of an Indicated and, in some

circumstances, a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study.

This Study must include adequate information on mining, processing, metallurgical, economic, and other

relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified.

A ‘

Proven Mineral Reserve’

is the economically mineable part of a Measured Mineral Resource

demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information

on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of

reporting, that economic extraction is justified.

A

Mineral Resource

is a concentration or occurrence of diamonds, natural solid inorganic material, o

r

natural solid fossilized organic material including base and precious metals, coal, and industrial minerals

in or on the Earth’s crust in such form and quantity and of such a grade or quality that it has reasonable

prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity

of a Mineral Resource are known, estimated or interpreted from specific geological evidence and

knowledge.

An ‘Inferred

Mineral Resource’

is that part of a Mineral Resource for which quantity and grade or quality

can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but

Kinross Reserve and Resource Statement - December 31, 2005

Page

3



not verified, geological and grade continuity. The estimate is based on limited information and sampling

gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and

drill holes.

An ‘Indicated

Mineral Resource’

is that part of a Mineral Resource for which quantity, grade or quality,

densities, shape and physical characteristics, can be estimated with a level of confidence sufficient to

allow the appropriate application of technical and economic parameters, to support mine planning and

evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable

exploration and testing information gathered through appropriate techniques from locations such as

outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade

continuity to be reasonably assumed.

A ‘Measured

Mineral Resource’

is that part of a Mineral Resource for which quantity, grade or quality,

densities, shape, and physical characteristics are so well established that they can be estimated with

confidence sufficient to allow the appropriate application of technical and economic parameters, to

support production planning and evaluation of the economic viability of the deposit. The estimate is based

on detailed and reliable exploration, sampling and testing information gathered through appropriate

techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced

closely enough to confirm both geological and grade continuity.

Kinross Reserve and Resource Statement - December 31, 2005

Page

4



MINERAL RESERVE AND RESOURCE STATEMENT

PROVEN AND PROBABLE MINERAL RESERVES

(1,3,5,6,7)

Kinross Gold Corporation's Share at December 31, 2005

Property

Location Kinross

Proven

Interest Tonnes

Grade

(%)

(x 1,000)

(g/t)

GOLD

NORTH AMERICA

Fort Knox

USA

100.0%

43,902

0.63

Round Mtn and area

(14)

USA

50.0%

42,649

0.77

Porcupine JV

(12)

Canada

49.0%

10,693

1.33

Musselwhite

(11)

Canada

31.9%

1,833

5.51

Kettle River

USA

100.0%

39

11.43

SUBTOTAL

99,117

0.86

SOUTH AMERICA

Paracatu

La Coipa

(12)

Refugio

Crixas

(10)

SUBTOTAL

ASIA

Kubaka and area

(16,17)

SUBTOTAL

TOTAL GOLD

Ounces Tonnes

(x 1,000) (x 1,000)

Probable

Grade Ounces

(g/t) (x 1,000)

Proven and Probable

Tonnes

Grade Ounces

(x 1,000)

(g/t) (x 1,000)

890

1,056

457

325

14

2,742

38,270

82,364

20,255

1,599

-

142,488

0.86

0.48

1.84

6.12

-

0.84

1,063

1,282

1,196

315

-

3,855

82,172

125,012

30,949

3,433

39

241,605

0.74

0.58

1.66

5.79

11.43

0.85

1,953

2,338

1,653

639

14

6,598

Brazil

Chile

Chile

Brazil

100.0% 1,103,677

50.0%

5,549

50.0%

58,454

50.0%

632

1,168,312

0.40

1.57

0.87

4.72

0.43

14,194

280

1,643

96

16,213

83,131

2,920

20,752

1,232

108,035

0.38

1.24

0.77

7.14

0.56

1,016

117

515

283

1,930

1,186,808

8,469

79,206

1,864

1,276,346

0.40

1.46

0.85

6.32

0.44

15,210

397

2,158

379

18,143

Russia

98.1%

79

79

1,267,508

3.42

3.42

0.47

9

9

18,964

-

-

250,522

-

-

0.72

-

-

5,785

79

79

1,518,030

3.42

3.42

0.51

9

9

24,749

MINERAL RESERVE AND RESOURCE STATEMENT

PROVEN AND PROBABLE MINERAL RESERVES

(1,3,5,6,7)

Kinross Gold Corporation's Share at December 31, 2005

Property

Location Kinross

Proven

Probable

Interest Tonnes

Grade Ounces Tonnes Grade Ounces

(%)

(x 1,000)

(g/t) (x 1,000) (x 1,000)

(g/t) (x 1,000)

SILVER

SOUTH AMERICA

La Coipa

(12)

Chile

50.0%

5,549

78.8 14,056

2,920

110.1 10,334

SUBTOTAL

5,549

78.8 14,056

2,920

110.1 10,334

ASIA

Kubaka and area

(16,17,19)

Russia

SUBTOTAL

TOTAL SILVER

Proven and Probable

Tonnes

Grade Ounces

(x 1,000)

(g/t) (x 1,000)

8,469

8,469

89.6

89.6

24,389

24,389

98.1%

79

79

5,628

6.4

6.4

77.8

16

16

14,072

-

-

2,920

-

-

110.1

-

-

10,334

79

79

8,548

6.4

6.4

88.8

16

16

24,405

Rounding differences may occur

Kinross Reserve and Resource Statement - December 31, 2005

Page

5



MINERAL RESERVE AND RESOURCE STATEMENT

MEASURED AND INDICATED MINERAL RESOURCES (EXCLUDES PROVEN AND PROBABLE RESERVES)

(2,3,4,6,7,8)

Kinross Gold Corporation's Share at December 31, 2005

Property

Location Kinross

Measured

Indicated

Measured and Indicated

Interest Tonnes

Grade

Ounces

Tonnes Grade

Ounces

Tonnes Grade

Ounces

(%)

(x 1,000)

(g/t)

(x 1,000) (x 1,000)

(g/t)

(x 1,000) (x 1,000)

(g/t)

(x 1,000)

GOLD

NORTH AMERICA

Fort Knox and area

(13)

USA

100.0%

4,582

0.75

110

44,280

0.59

838

48,862

0.60

948

Round Mtn and area

(14)

USA

50.0%

5,992

0.64

124

10,071

0.53

172

16,062

0.57

295

(12,15)

Porcupine JV

Canada

49.0%

1,077

3.68

127

8,238

2.51

666

9,315

2.65

793

Musselwhite

(11)

Canada

31.9%

624

4.20

84

285

5.91

54

909

4.74

138

Kettle River

USA

100.0%

-

-

-

-

-

-

-

-

-

SUBTOTAL

12,274

1.13

445

62,873

0.86

1,730

75,147

0.90

2,175

SOUTH AMERICA

Paracatu

La Coipa

(12)

Refugio

Crixas

(10,18)

Gurupi

(9,20)

SUBTOTAL

ASIA

Kubaka and area