Year-over-year increase caps five years of steady growth

Toronto - Kinross Gold Corporation (TSX-K; NYSE-KGC) ("Kinross" or the "Company") is pleased to announce an increase in Proven and Probable reserves to 24.7 million ounces of gold at December 31, 2005, from 19.4 million ounces in 2004. This marks the fifth consecutive year that Kinross has increased reserves and represents year-over-year growth of 27 per cent.

"Kinross' reserve base and average mine life have grown steadily over the past five years and are reaching new highs," said Tye Burt, Kinross President and CEO. "Our 2005 exploration program has been successful in growing our reserve base at year end 2005 to 24.7 million ounces compared with the 19.4 million ounces reported at year end 2004, including replacing depletion from the gold produced in 2005."

Gold reserves and resources:

Toview chart, please download the PDF.

Reconciliation of reserves at year end 2005 compared with year end 2004:

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Following is a discussion on the notable changes to reserves from 2004 to 2005:

• Further to the November 2005 reported increase of 4.8 million ounces of gold to reserves at Paracatu in Brazil, a further 1.9 million ounces was added at year end 2005. Taking full year 2005 depletion into account, Paracatu reported reserves almost doubled year-over-year.

• The 59 per cent increase in reserves at Round Mountain in Nevada resulted primarily from the decision to proceed with a pit expansion.

• At Fort Knox in Alaska, Ryan Lode is no longer in reserves or resources as we have elected not to make further option payments on that property. The True North and Gil deposits, also in the Fort Knox area, were reclassified to resources due to changes in cost assumptions at Fort Knox.

• At the Porcupine Joint Venture in Timmins, Ontario reserves were replaced on a net basis.

• Reserves at Refugio in Chile, increased primarily through the difference in gold price assumption from 2004 to 2005.

• Kinross sold the Aquarius project in Timmins, Ontario for an equity stake in St Andrew Goldfields Ltd., a company with a large land position in Timmins.

• Reserves at La Coipa in Chile decreased through depletion and the review of the mine plan following two pit slope events in 2005.

• The Lupin and New Britannia mines in Nunavut and Manitoba, respectively, were both closed during 2005, as planned, and have been removed from reserves and resources.

• We have discontinued reporting reserves for the Blanket mine in Zimbabwe, consistent with our accounting treatment of no longer consolidating its results in our financial statements.

Silver reserves at the end of 2005 are 24.4 million ounces estimated using a price of $6 per ounce. Gold reserves were calculated using a $400 gold price and resources were calculated using a $450 gold price 2005. Gold reserves and resources for 2004 were calculated using a $350 and $400 gold price, respectively.

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Cautionary Statement on Forward-Looking Information
This press release includes certain “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the Kinross’ financial statements for its fiscal year ended December 31, 2004, potential mineralization and reserves, exploration results and future plans and objectives of Kinross Gold Corporation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Any restatement of historical financial statements is dependant on the outcome of the independent valuation of the acquired assets, and Kinross does not know what that outcome will be. Other important factors that could cause actual results to differ materially from Kinross’ expectations are disclosed under the heading “Risk Factors” and elsewhere in Kinross’ most recent Annual Information Form and other Kinross documents filed from time to time with the Ontario Securities Commission, the United States Securities and Exchange Commission and other regulatory authorities. All dollar amounts are expressed in US dollars.

Technical information contained in this press release regarding Kinross’ material mineral properties has been reviewed by Rod Cooper, Vice President, Technical Services for Kinross, who is a “Qualified Person” under National Instrument 43-101.