Toronto, Ontario, April 5,
2013 - Kinross Gold Corporation (TSX: K;
NYSE: KGC) ("Kinross") announced today that it has subscribed for
3,571,428 units of Revolution Resources Corp. ("Revolution")
pursuant to a non-brokered private placement. Each unit is
comprised of one common share and one-half of one share purchase
warrant, where each whole warrant will entitle the holder to
acquire one common share at a price of CAD$0.125 for a period of
two years following the closing of the private placement. After
giving effect to the private placement, Kinross will hold 9,571,429
common shares and 4,785,714 share purchase warrants of Revolution,
constituting approximately 9.67% of Revolution's issued and
outstanding common shares on a non-diluted basis, and 11.67% on a
fully-diluted basis. The subscription price for the units is
CAD$0.07 per unit for an aggregate purchase price of
CAD$249,999.96.
The investment in Revolution is part of Kinross' strategy to
increase its exposure to quality exploration opportunities by
investing in junior resource companies. Revolution is a
Vancouver-based junior resource company focused on gold and silver
exploration in Mexico and the United States.
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 9,000 people
worldwide. Kinross maintains listings on the Toronto Stock Exchange
(symbol:K) and the New York Stock Exchange (symbol:KGC).
Media Contact
Steve Mitchell
Vice-President, Corporate Communications
phone: 416-365-2726
steve.mitchell@kinross.com
Investor Relations Contact
Tom Elliott
Vice-President, Investor Relations
phone: 416-365-3390
tom.elliott@kinross.com