July 31, 2000

Toronto, Ontario -

Kinross Gold Corporation (TSE-K; K.DB)

announced today that The Toronto

Stock Exchange has accepted for filing a Notice of Intention to Make a Normal Course Issuer Bid for the

5.5% convertible unsecured subordinated debentures of the Corporation. Pursuant to the bid which

commences on August 2, 2000, during the next 12 months the Corporation may purchase up to

$9,790,015 principal amount of debentures, being 5% of the $195,803,000 currently issued and

outstanding principal amount of debentures. All purchases will be made through the facilities of the

Exchange and in accordance with the Exchange's rules and by-laws. The debentures purchased

pursuant to the bid will be cancelled. The Corporation believes that it may be advantageous to engage

in repurchases of common shares and debentures, from time to time, when they are trading at prices

which reflect a significant discount from the underlying value of the securities. The Corporation has

repurchased $21,000 principal amount of the debentures pursuant to a previous bid during the last 12

months.

-30-

For further information contact:

Gordon A. McCreary

Vice President, Investor Relations and Corporate Development

Tel.: (416) 365-5132

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