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The Fruta del Norte (FDN) project is located within a 95,000 hectare land package in southeastern Ecuador, in the province of Zamora-Chinchipe. Kinross acquired 100% of the project on September 30, 2008, through the acquisition of Aurelian Resources Inc.

The Condor project is about 80 kilometres northeast of Loja, one of the largest cities in southern Ecuador. Due to its proximity to the equator and elevation of approximately 1,400 metres, the climate around FDN is tropical rain forest, and the temperature hovers between 21 to 24 degrees Celsius year round.

FDN is a high grade, intermediate sulphidation epithermal gold-silver system, hosted in andesitic volcanics. The FDN discovery drill hole was reported on April 5, 2006.

Kinross has prepared a pre-feasibility study and technical report for FDN, incorporating reserve and resource information as of year-end 2010.

Kinross is continuing its feasibility study work and has recommenced negotiations with the government of Ecuador on an enhanced economic package for developing the project. The Company expects to proceed with the project only when it is satisfied with the terms of the final exploitation and investment protection agreements and has made a positive decision to construct the mine following the completion of its feasibility study work.

The timing of the feasibility study will depend on the successful conclusion of these negotiations.

Mineral Reserve and Resource Summary

As at December 31, 2012

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