October 26, 1998

Toronto, Ontario -

KINROSS GOLD CORPORATION (TSE-K; NYSE - KGC)

announces that the Board

of Directors of Kinam Gold Inc. (formerly Amax Gold Inc.), a subsidiary, has approved a quarterly

dividend of U.S. $0.9375 per share on the US $3.75 Series B Convertible Preferred Stock payable on

November 15, 1998 to shareholders of record as of November 5, 1998. The ex-dividend date for the

preferred stock dividend is November 3, 1998.

The Kinam Gold U.S. $3.75 Series B Convertible Stock is presently listed on the New York Stock

Exchange under the trading symbol "AUPrB".

-30-

For further information contact:

Robert M. Buchan

Chairman and Chief Executive Officer

Tel: (416) 365-5650

Brian W. Penny

Vice President, Finance and Chief Financial Officer

Tel: (416) 365-5662

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