Toronto, Ontario, March 31, 2010 - Kinross Gold
Corporation (TSX:K, NYSE: KGC) ("Kinross") announced today the
closing of its sale of 25% of the Cerro Casale project in Chile to
Barrick Gold Corporation ("Barrick"), previously announced on
February 17, 2010.
The total transaction value to Kinross was approximately US$474
million, comprised of approximately US$454 million in cash (after
adjusting for working capital) plus the assumption by Barrick of a
US$20 million contingent obligation. Kinross now owns 25%, and
Barrick 75%, of the Cerro Casale project.