Toronto, Ontario, August 22, 2011 - Kinross
Gold Corporation (TSX: K; NYSE: KGC) ("Kinross") announced today
that it has closed its previously announced US$1 billion offering
of debt securities, consisting of US$250 million principal amount
of its 3.625% Senior Notes due 2016, US$500 million principal
amount of its 5.125% Senior Notes due 2021 and US$250 million
principal amount of its 6.875% Senior Notes due 2041 (collectively,
the "notes"). The notes are unsecured, senior obligations of
Kinross and are wholly and unconditionally guaranteed by certain of
Kinross' wholly-owned subsidiaries that are also guarantors under
Kinross' senior unsecured credit agreement.
The offering was made pursuant to Rule 144A under the Securities
Act of 1933 (the "Act") and outside the United States pursuant to
Regulation S under the Act. The notes have not been and will not be
registered under the Act and the notes may not be offered or sold
in the United States absent registration under the Act or the
availability of an applicable exemption from registration
requirements. Offers and sales in Canada will be made only pursuant
to exemptions from the prospectus requirements of applicable
Canadian provincial or territorial securities laws. This news
release does not constitute an offer to sell or the solicitation of
an offer to buy any security.