July 27, 2000

Toronto, Ontario –

KINROSS GOLD CORPORATION

(TSE

– K; NYSE – KGC)

announces that the

Board of Directors of Kinam Gold Inc., a subsidiary, has suspended the quarterly dividend on the U.S.

$3.75 Series B Convertible Preferred Stock payable on August 15, 2000. This decision has been taken

by the board as a cash conservation measure due to the persistence of low gold prices and will be

reviewed by the board on a quarterly basis.

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

the trading symbol “KGCPrB”.

-30-

For additional information contact:

Robert M. Buchan

Chairman and

Chief Executive Officer

Tel. (416) 365-5650

Gordon A. McCreary

Vice President,

Investor Relations and

Corporate Development

Tel. (416) 365-5132

Brian W. Penny

Vice President, Finance

and Chief Financial Officer

Tel. (416) 365-5662

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