Toronto, Ontario, August 10, 2009 -- Kinross
Gold Corporation ("Kinross") announced today that it has subscribed
for 2,000,000 units of BCGold Corp. ("BCGold") pursuant to a
non-brokered private placement. Each unit consists of one common
share and one half of one common share purchase warrant. Each
warrant allows the holder to purchase one common share at an
exercise price of CAD $0.12 for a period of 12 months following the
closing of the private placement. After giving effect to the
private placement, Kinross will hold 6,025,000 common shares and
1,512,500 common share purchase warrants of BCGold, constituting
approximately 16% of its issued and outstanding common shares. The
subscription price for the units is CAD $0.06 per unit for an
aggregate purchase price of CAD $120,000.
The investment in BCGold is part of Kinross' strategy to
maximize exposure to new prospects and experienced explorationists
at a relatively small capital investment by partnering with
promising junior companies on a select basis. BCGold is a
Vancouver-based junior resource company focused on copper and gold
exploration in under-explored historic mining and exploration
districts in British Columbia and Yukon.