In February 2022, Kinross acquired Great Bear Resources Ltd. and its flagship Dixie project located in the renowned and prolific Red Lake mining district in Ontario, Canada. In February 2023, Kinross announced its initial mineral resource estimate for the project, and in September 2024, Kinross completed a Preliminary Economic Assessment for the project.

The world-class project is a centerpiece of the Company’s development portfolio and has excellent potential to become a top-tier deposit that could support a large, long-life mine complex and bolster Kinross’ long-term production outlook.

The Preliminary Economic Assessment outlines a high-grade combined open pit and underground mine with an initial planned mine life of approximately 12 years and production cost of sales of $594 per ounce. The Project is expected to produce over 500,000 ounces per year at an all-in sustaining cost (AISC) of approximately $800 per ounce during the first 8 years through a conventional, modest capital 10,000 tonne per day (tpd) mill.

In 2024, Kinross commenced construction on the Advanced Exploration Program (AEX), with surface construction ~93% complete as of the second quarter of 2026, and all permits received. The first blast at the exploration decline was completed on July 27, 2026. The AEX camp is now operational, with a natural gas pipeline completed and commissioned.

For the Main Project, detailed engineering was approximately 50% complete as of the second quarter of 2026. Procurement of major equipment is underway, with contracts awarded for the process plant, power, and paste plant equipment. Requests for Proposals for the camp, administration, and process buildings are ongoing.

Kinross continues to advance its regional exploration program, and in 2026 will target the discovery of new open pit and underground targets outside of the LP, Hinge and Limb areas on Kinross’ 120 square kilometre land package.

Learn more here.