Toronto, Ontario (July 28, 1998) ¾

Kinross Gold Corporation (TSE-K; NYSE-KGC)

announces that

during the month of July, the Corporation repurchased spot deferred sales contracts for 208,200

ounces of gold, sold 103,750 gold put options and closed out a substantial trading position. These

transactions generated approximately US$46 million of cash and eliminated all of the gold hedging

contracts of KINAM Precious Metals Inc. (formerly Amax Precious Metals Inc.), a wholly owned

subsidiary.

As a result of its merger with Amax Gold Inc., which became effective June 1, 1998, Kinross has

become the fifth largest North American based gold producer.

- 30 -

For additional information contact:

Robert M. Buchan

Chairman and Chief Executive Officer

Tel. (416) 365-5650

Brian Penny

Vice President Finance

and Chief Financial Officer

(416) 365-5662

Home

•

Corporate

•

Operations

•

Investors

•

News

•

Contact

•

Search

•

Index