August 9, 2006

Kinross Gold Agrees to Purchase Shares of X-Cal

Announces Filing of Fort Knox and Paracatu Technical Reports

Toronto, Ontario

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Kinross Gold Corporation (TSX: K, NYSE: KGC) (“Kinross”) wishes to

advise that they have entered into an agreement whereby X-Cal Resources Ltd. (“X-

Cal”) has agreed to issue and sell to Kinross, on a private placement basis, 3.5 million

common shares of X-Cal at a price of C$0.32 per share.

This private placement remains subject to regulatory approval and completion of

certain closing conditions. Upon completion of the private placement, Kinross will

beneficially own a total of 13 million X-Cal common shares, representing

approximately 10.5% of the X-Cal issued and outstanding common shares. Kinross has

agreed to acquire these additional securities for investment purposes.

Paracatu and Fort Knox technical reports filed

Kinross announced last week that it had approved an investment of $470 million in its

Brazilian subsidiary for an expansion of its Paracatu mine. Also, along with Crown

Resources, it announced that the proxy statement/circular in respect of the Crown

transaction would be mailed to shareholders and a meeting will be held on August

31, 2006. In connection with these announcements Kinross has filed with Canadian

securities regulators updated technical reports prepared in accordance with

National Instrument 43-101 for its Fort Knox and Paracatu mines. The new technical

reports will be available for review at www.SEDAR.com.

Caution Concerning Forward-Looking Statements

This release and related documents may contain certain “forward-looking statements” including, but not

limited to, completion of the private placement on the terms announced (if at all), receipt of regulatory

approval, and the number and percentage of X-Cal shares owned by Kinross. Forward looking statements

are statements that are not historical facts and are subject to a variety of risks and uncertainties which

could cause actual events or results to differ materially from those reflected in the forward-looking

statements, including, without limitation: regulatory risks, results of due diligence investigations and

transaction risks.

Forward-looking statements contained in this release and related documents are based on the beliefs,

estimates and opinions of management on the date the statements are made. There can be no assurance

that such statements will prove accurate. Actual results may differ materially from those anticipated or

projected. Kinross undertakes no obligation to update these forward-looking statements if management's

beliefs, estimates or opinions, or other factors, should change.

For additional information, e-mail

info@kinross.com

or contact:

Investor Relations Contact:

Tracey Thom

Director, Investor Relations

& Corporate Communications

(416) 365-1362

tracey.thom@kinross.com

Media Contact:

James Toccacelli

Senior Vice President,

Communications

(416) 365-7129

james.toccacelli@kinross.com