Julietta (90%ownership) - Far Eastern Russia

Kinross acquired the 90% interest in and became operator of the Julietta underground mine located in the Omsukchansk Region of the Magadan Oblast, Russia, on February 28, 2007 through the acquisition of Bema Gold. The Julietta mine is located approximately 250 km by air northeast of the city of Magadan. The remaining 10% interest is held by Russian shareholders.

The mine has been in operation since September, 2001 and produces approximately 75,000 ounces of gold equivalent per year.

Mining is carried out by sublevel longhole stoping and cut and fill methods. Ore goes through a crushing and grinding circuit, followed by flotation of sulfides and ultimately cyanidation of the flotation concentrate. The gold-silver precipitate is recovered by a Merrill Crowe circuit. The plant which started up in September 2001 has a capacity of 400 tonnes per day of ore. The flowsheet has been changed recently, with replacement of the precipitation sock filters with filter presses.

Kinross’ share as at December 31, 2007