September 20, 2006
Kinross Completes New Credit Facilities
Totaling US$500 Million
Toronto, Ontario
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Kinross Gold Corporation (TSX: K, NYSE: KGC) (“Kinross”) announced
today that it has entered into a new revolving and term credit facility with ScotiaCapital
and a group of lenders. The US$300 million three year revolving credit facility will support
Kinross’ liquidity and letter of credit needs. The five and a half year US$200 million term
loan will support the previously announced expansion program at the Paracatu mine in
Brazil.
Other lenders include Export Development Canada, Société Générale, Royal Bank of
Canada, and other international financial institutions.
"We are very pleased that our relationship banks have firmly supported the Paracatu
expansion project in providing this new term loan" said Thomas Boehlert, Kinross’ CFO.
"The project will begin delivering significant new gold production in two years".
Cautionary statements regarding forward-looking statements
This news release contains “forward-looking statements”, within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and similar Canadian legislation, concerning the business, operations
and financial performance and condition of each of Kinross and Crown. Generally, these forward looking
statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not
anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results
“may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are
based on the opinions and estimates of management as of the date such statements are made, and they are
subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of Kinross and Crown to be materially different from those expressed or
implied by such forward-looking statements, including but not limited to risks related to: unexpected variations
in ore grade, tonnes mined, crushed or milled; delay or failure to required approvals; timing and availability of
external financing on acceptable terms; the businesses of Kinross and Crown not being integrated successfully
or such integration proving more difficult, time consuming or costly than expected; not realizing on the
anticipated benefits from the Kinross/Crown transaction or not realizing on such anticipated benefits within the
expected time frame; risks related to international operations; actual results of current exploration activities;
actual results of current reclamation activities; conclusions of economic valuations; changes in project
parameters as plans continue to be refined; future prices of gold and commodities; possible variations in ore
reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; delays in the completion of development activities, as well
as those factors discussed in or referred to in the "Risk Factors" and elsewhere in Kinross’ registration statement
on Form F-4 and Kinross' and Crown's other documents filed from time to time with the United States Securities
and Exchange Commission and Canadian securities regulatory authorities. Although management of each of
Kinross and Crown has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements. Neither Kinross nor Crown
undertakes to update any forward-looking statements, except in accordance with applicable securities laws.