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Kinross appointed to Russian government advisory council on foreign investment

February 28, 2010

TORONTO, Ontario - February 28, 2010 - The Ministry of Economic Development of the Russian Federation has announced the appointment of Kinross to Russia's Foreign Investment Advisory Council (FIAC).

FIAC was established in 1994 to assist Russia in forging and promoting a favourable investment climate based on global expertise and the experience of international companies operating in Russia. FIAC functions on the basis of direct dialogue between the chief executives of investor companies and the Russian government, with a focus on the crucial aspects of fostering a healthy investment climate.

The council is chaired by Russian Prime Minister Vladimir Putin and includes CEOs from 42 companies. Kinross is the only Canadian company to be named to the council.

"Kinross is honoured to be inducted into FIAC, which we view as an endorsement by the Russian government of our status as a valued investor," said Mr. Burt. "By working directly with the Russian government at a high level, the Council reinforces the government's ongoing efforts to improve Russia's investment environment. We look forward to playing an active role in advancing this shared goal."

Kinross has been active in Russia since 1995. The company currently operates the Kupol gold-silver mine in the Chukotka region of Russia through the Chukotka Mining and Geological Company (CMGC), which is owned 75 per cent by Kinross and 25 per cent by the Chukotka government. Kinross is the largest Canadian investor in the Russian Federation.