40 King Street West, 52 Floor

Toronto, ON M5H 3Y2

www.kinross.com

Tel: 416 365 5123

Fax: 416 363 6622

Toll Free: 866-561-3636

nd

PRESS RELEASE

Kinross Announces the Appointment of Tye Burt as

President & Chief Executive Officer

March 23, 2005…Toronto, Ontario – Kinross Gold Corporation

(TSX-K; NYSE-

KGC) (“Kinross” or the “Company”) is pleased to announce that Mr. Tye Burt has

accepted the position of President and Chief Executive Officer of Kinross and is

expected to assume his duties in early April. This follows the earlier announcement that

Bob Buchan would be stepping down as President and CEO once his successor was in

place. Mr. John Oliver, Chairman of Kinross’ board of directors said, “the board of

directors is extremely pleased to have Mr. Burt join the Kinross team and know his

background in corporate finance and mining, his drive and enthusiasm will take the

Company to the next level”. Along with John Oliver, Mr. Buchan is, “pleased that Tye

has accepted this position and I am confident that, under his leadership, the future of

the Company is in good hands”.

Mr. Burt brings with him a wealth of experience and joins Kinross following his most

recent position as Vice-Chairman and Executive Director, Corporate Development with

Barrick Gold Corporation. Prior to that he spent 16 years in corporate finance in the

positions of Chairman of Deutsche Bank Canada and Global Head of Metals and Mining

for Deutsche Bank, Head of Investment Banking in Vancouver and Co-head of the

Mining Group at Nesbitt Burns and spent many years at Burns Fry Limited in Mergers &

Acquisitions and Equity Capital Markets.

Mr. Burt sits on the Board of Directors of the Ontario Financing Authority and is

Chairman of NRX Global Corporation.

Mr. Burt is a member of the Law Society of Upper Canada and is a graduate of

Osgoode Hall Law School as well as the University of Guelph (B.A.).

The Board of Directors and all of Kinross’ employees would also like to thank Bob

Buchan for his 12 years of dedication and commitment to Kinross as Chief Executive

Officer. Mr. Buchan formed the Company in 1993 and successfully grew it from a junior

24,000 ounce per year producer to its current position as the seventh largest primary

gold producer in the world.

For additional information, e-mail

info@kinross.com

or contact:

Christopher T. Hill

Vice President

Investor Relations

Tel. (416) 365-7254

Tracey M. Thom

Manager

Investor Relations

Tel. (416) 365-1362