The Lobo-Marte project provides Kinross with optionality as a large, long-life mine with low costs.

The project contemplates an open pit, heap leach and SART (sulphidization, acidification, recycling and thickening) plant operation, with production potentially commencing following permitting and after the conclusion of mining at La Coipa. Should further La Coipa mine life extension opportunities be successful, such as a possible additional Puren pushback and incorporating other adjacent pits, Lobo-Marte’s timing is expected to be adjusted accordingly.

The results of a feasibility study (FS) at Lobo-Marte were announced in November 2021, which included a total life of mine production estimate of approximately 4.7 million Au oz. and all-in sustaining cost estimate of $680/oz. during a 16-year mine life. A positive development decision would depend on a range of factors, including permitting and other potential opportunities in the region.

An important aspect of the FS included incorporating key environmental and community considerations as part of the project design to better adapt the project to the local environment. Kinross took a rigorous approach to ensure the project is designed to be protective of water resources and local wildlife. Kinross is carrying out significant community engagement and outreach as part of the planning process.

Lobo-Marte’s Environmental Impact Assessment was submitted in April 2026 and is under review by regulators, formally initiating the permitting process.