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Status Update on Late Financial Statements Filing

July 22, 2005

TORONTO, Ontario - Kinross Gold Corporation ("Kinross" or the "Company") (TSX-K; NYSE-KGC) provides a status update on the preparation and filing of its financial statements and related matters.

As previously disclosed, Kinross has not yet filed its audited financial statements and related management's discussion and analysis or its annual information form as a result of the review of the accounting treatment for the assets acquired in the TVX Gold/Echo Bay merger ("the Merger").

Kinross has submitted a letter to U.S. and Canadian regulators responding to comments on the registration statement filed by Kinross in connection with the proposed acquisition of Crown Resources Corporation. Included with the response letter are the independent valuations of the assets acquired in the Merger and related documents and opinions from independent advisors and valuators.

If accepted, the proposed accounting methodology that is being reviewed by regulators would lead to a significant restatement of Kinross' results for 2003. Kinross has recently been notified by the staff of the enforcement division of the U.S. Securities and Exchange Commission that it will request additional documents from Kinross shortly in connection with an informal inquiry focused on Kinross' accounting for the Merger and the potential restatement.

Kinross will file audited financial statements after the relevant regulators have issued their final comments on the accounting treatment for the assets acquired in the Merger, the auditors have signed off on the financial statements, and the financial statements have been approved by Kinross' board of directors.

Kinross will issue bi-weekly updates as to the status and timing which can be viewed on the website at The next update is scheduled for the week of August 1, 2005.