Toronto, Ontario, September 30, 2011 -- Kinross
Gold Corporation ("Kinross") announced today that it has subscribed
for 6,000,000 units of Revolution Resources Corp. ("Revolution")
pursuant to a private placement. Each unit consists of one
common share and one-half of one common share purchase
warrant. Each whole warrant allows the holder to purchase one
common share at an exercise price of CAD$0.75 during the four year
period following the closing of the private placement. Assuming the
exercise of all warrants held by Kinross, Kinross would hold
9,000,000 common shares, constituting 13.1% of Revolution's
outstanding common shares. The subscription price for the
units is CAD$0.50 per unit for an aggregate purchase price of
CAD$3,000,000. The private placement is subject to approval
by the TSX Venture Exchange.
Kinross is acquiring the Revolution units for investment
purposes. Revolution is a TSX-listed gold exploration company (TSX:
RV) based in Vancouver, BC, Canada. The Company's current
exploration activities are focused on two flagship projects located
in the Champion Hills district of North Carolina and the
newly-optioned Mexican property portfolio of Lake Shore Gold Corp.,
previously owned by West Timmins Mining Inc.
About Kinross Gold Corporation
Kinross is a Canadian-based gold mining company with mines and
projects in Brazil, Canada, Chile, Ecuador, Ghana, Mauritania,
Russia and the United States, employing approximately 7,500 people
worldwide.
Kinross' strategic focus is to maximize net asset value and cash
flow per share through a four-point plan built on: delivering mine
and financial performance; attracting and retaining the best people
in the industry; achieving operating excellence through the
"Kinross Way"; and delivering future value through profitable
growth opportunities.
Kinross maintains listings on the Toronto Stock Exchange
(symbol:K) and the New York Stock Exchange (symbol:KGC)