40 King Street West, 52 Floor

Toronto, ON M5H 3Y2

Tel: 416 365 5123

Fax: 416 363 6622

Toll Free: 866-561-3636

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PRESS RELEASE

Kinross Increases Position in Cumberland Resources

August 25, 2004…Toronto, Ontario – Kinross Gold Corporation

(TSX-K; NYSE-KGC)

(“Kinross”) announced that it has acquired 253,100 common shares of Cumberland

Resources Ltd. (TSX-CLG, “Cumberland”) through the facilities of the Toronto Stock

Exchange. As a result of this transaction, Kinross has ownership of an aggregate of

6,930,300 common shares of Cumberland representing 12.74% of the issued and

outstanding shares of Cumberland. These securities have been acquired for investment

purposes and the Corporation may increase or decrease its holdings in Cumberland at

attractive prices at any time.

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