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Kinross Announces a Restatement of Prior Financial Statements and Provides Status Update on Late Filing of Financial Statements

December 23, 2005

TORONTO, Ontario - Kinross Gold Corporation ("Kinross" or the"Company")(TSX-K; NYSE-KGC). Pursuant to the alternative information guidelines of theOntario Securities Commission ("OSC") Policy 57-603 and Canadian Securities AdministratorsStaff Notice 57-301, Kinross is providing a notice to the market regarding a restatement of itsprior financial statements and an update on the process relating to the preparation and filing ofits financial statements and related matters, until such time as Kinross is current with its filingobligations under Canadian securities laws.

During the preparation of its unaudited interim financial statements for 2005, the Company andits new auditors became aware that Kinross had not fully accounted for the impact of foreigncurrency exchange rates on future tax liabilities relating to the purchase of certain assetsacquired in the acquisition of TVX Gold and Echo Bay in January 2003. The Company intendsto restate its financial statements for 2003 and 2004 to fully account for these changes.Previously issued financial statements for the years ended 2003 and 2004 and interim periodsand the related auditors' reports should no longer be relied upon. The Company estimates thatthe impact of the restatement on its previously reported net losses for 2003 and 2004 will be toincrease the losses by approximately $25 million and $15 million, respectively. This non-cashadjustment will have no impact on operating cash flows or cash balances previously reported. The changes to the future tax liabilities are primarily attributable to the Brazilian operations. The Brazilian real has strengthened by approximately 40% from January 2003 to September 2005against the U.S. dollar. The translation to U.S. dollars of the Company's future tax liabilities willalso have a negative impact on 2005 results.

Kinross is currently working to finalize and file its quarterly financial statements for 2005 andother required regulatory filings in order to bring the Company current. This will be done whenthe restated 2003 and 2004 financial statements are completed which at this time the Companybelieves will be January 2006.An application was made to the Ontario Superior Court of Justice to obtain an extension to theprevious order, which required Kinross to hold its shareholders meeting by December 31, 2005.

The court has granted Kinross permission to hold its 2004 annual general meeting anytimebefore February 28, 2006. The date for the meeting will be set when the financial statementsare finalized.

We are issuing bi-weekly updates as to the status and timing which can be viewed on ourwebsite at The next update is scheduled for the week of January 2nd, 2006.