Fort Knox (100% ownership and operator) - USA

Kinross acquired the Fort Knox open pit mine, located near Fairbanks, Alaska, in 1998. The Fort Knox mine includes the main Fort Knox open pit mine, mill, and tailings storage facility, an 80% ownership interest in the Gil property that is subject to a joint venture agreement with Teryl Resources Corporation and the True North open pit mine (which is currently suspended). Gold equivalent production for 2005 was 329,320 ounces compared to 338,334 ounces in 2004 and 391,831 in 2003.

Located within the Fairbanks mining district, a northeast trending belt of lode and placer gold deposits that comprise one of the largest gold producing areas in the state of Alaska. Access to the Fort Knox mine from Fairbanks, Alaska is by 34 kilometers of paved highway and 8 kilometers of unpaved road. The True North mine is located 18 kilometers west of the Fort Knox property and is accessible by an unpaved road. The area has a sub-arctic climate with long cold winters and short summers.

The Fort Knox deposit is mined by conventional open pit methods. Mining is carried out on a year-round basis, seven days a week and the mine production rate varies between 110,000 and 145,000 tonnes per day of total material. Ore from the Fort Knox mine is processed at Kinross’ carbon-in-pulp mill, which processes ore 24-hours per day, year-round and has a daily capacity of between 33,000 to 45,000 tonnes. In mid-2005, Kinross initiated studies examining the potential to heap leach low-grade ore from the Fort Knox property, with the view of enhancing Fort Knox economics by reducing energy consumption.

Selected Production and Operating Information

Mineral Reserve and Resource Summary
Kinross Gold Corporation’s Share at December 31, 2005