Kinross Raises US$34.9 Million Through the Exercise of Warrants

Toronto, Ontario, November 24, 2003…Kinross Gold Corporation (TSX-K and NYSE-KGC)

(“Kinross”)

announces that it has issued 6,726,734 shares upon the exercise of the Echo Bay Mines

Ltd. (“Echo Bay”) common share purchase warrants (“warrants”), which expired on November 14,

2003, for net proceeds of US$34.9 million. Kinross acquired the obligation for these warrants through

its acquisition of Echo Bay on January 31, 2003.

Under the terms of the warrant indenture, issued on May 9, 2002, amended to take into account the

Kinross, Echo Bay and TVX Gold Inc. combination, one Echo Bay warrant plus US$0.90 were required

to convert into 0.1733 common shares of Kinross.

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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