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Kinross receives Russian government approval to acquire 100% of Dvoinoye

August 5, 2010

TORONTO, Ontario - August 5, 2010 - Kinross Gold Corporation has been advised that its application to acquire 100% of the shares of Northern Gold, the owner of the Dvoinoye gold and silver deposit in the Chukotka Autonomous Okrug, has been approved by the Russian Federation's State Commission for the Control of Foreign Investments.

Kinross announced an agreement in principle to acquire Northern Gold LLC and Regionruda LLC, the owner of the Vodorazdelnaya property exploration and mining license, on January 20, 2010, subject among other conditions to approval of foreign ownership of Dvoinoye as a strategic deposit by the Russian Government.

Once the Commission's official decision of the meeting held on August 4 has been released, Kinross will begin procedures for completion of the transaction.