40 King Street West, 52

nd

Floor

Toronto, ON M5H 3Y2

Tel: 416 365 5123

Fax: 416 363 6622

Toll Free: 866-561-3636

PRESS RELEASE

Kinross Announces New CFO

May 20, 2004…Toronto, Ontario – Kinross Gold Corporation

(TSX-K; NYSE-KGC)

(“Kinross” or the “Company”) announces the appointment of Lars-Eric Johansson as Executive

Vice President and Chief Financial Officer of Kinross effective June 1, 2004.

Mr. Johansson was formerly Executive Vice President and Chief Financial Officer of Noranda

Inc. of Toronto. Prior to Noranda, he was Senior Vice President and Chief Financial Officer

with Falconbridge, and he has over thirty years experience in the natural resource sector. Mr.

Johansson holds a Masters of Business Administration Degree from the Gothenburn School of

Economics, Gothenburn Sweden, with specialties in Accounting and Finance.

This appointment follows the resignation of Brian Penny who was Vice President Finance and

Chief Financial Officer. Brian is leaving for personal reasons, and we wish him well in all his

future endeavours. During Brian’s eleven years with Kinross, the Company has grown from a

production profile of 25,000 ounces of gold annually, to over 1.6 million ounces of gold

produced in 2003. With thirteen producing properties and a large pipeline of projects under

development, Kinross is now one of the largest gold producers in the world.

For additional information, e-mail

info@kinross.com

or contact:

Robert M. Buchan

President and

Chief Executive Officer

Tel. (416) 365-5650

Christopher T. Hill

Vice President

Investor Relations

Tel. (416) 365-7254

Tracey M. Thom

Manager

Investor Relations

Tel. (416) 365-1362