January 31, 2000

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 U.S. $3.75 Series B. Convertible Preferred Stock

payable on February 15, 2000 to shareholders of record as of February 5, 2000. The ex-dividend date

for the preferred stock dividend is February 2, 2000.

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:

Brian W. Penny

Vice President, Finance and

Chief Financial Officer

(416) 365-5662

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