Kinross Gold Completes Offering

On December 5, 2002, Kinross Gold Corporation completed a bought deal offering of 50 million units (comprised of 50 million common shares and 25 million warrants) at $3.05 per unit for gross proceeds of $152.5 million. Each whole warrant can be exercised on or before December 5, 2007 for one common share from treasury at an exercise of $5. In the U.S., a portion of the offering was made by way of a private placement.

Griffiths McBurney & Partners and CIBC World Markets Inc. were co-leads for the offering, with a syndicate that included RBC Dominion Securities Inc., Scotia Capital Inc. and Canaccord Capital Corporation.

Cassels Brock & Blackwell LLP acted as Canadian counsel to Kinross, with a team comprised of Cameron Mingay, Jeffrey Roy, André Boivin and Lori Prokopich (securities/corporate) and Christopher Norton (tax). Chadbourne & Parke LLP in New York acted as U.S. counsel to Kinross, with a team comprised of Philip Colbran, Damien Atkins and Sheila Peluso (securities/corporate) and Barry Dinaburg and David Danon (tax).

Blake, Cassels & Graydon LLP acted as Canadian counsel to the underwriters, with a team comprised of Sheila Murray, Geoff Belsher, Anoop Dogra, Andrew McLeod, Dori Assaly, James Clarke, Neil Kothari, John Bursic and Pascal Ouimet (securities/corporate) and Paul Tamaki (tax). Skadden, Arps, Slate, Meagher & Flom LLP in New York acted as U.S. counsel to the underwriters, with a team comprised of Phyllis Korff, Richard Aftanas and Nathan Marinoff (corporate finance) and William Weiss (tax) in New York.

Lawyer(s)

Lori A. Prokopich Dori Assaly Jeffrey P. Roy Pascal A. Ouimet Richard B. Aftanas Nathan D. Marinoff Geoffrey S. Belsher Phyliss G. Korff James D. Clarke Anoop Dogra Philip L. Colbran Sheila A. Murray Christopher B. Norton André Boivin Paul K. Tamaki Ronald J. Weiss Nilesh (Neil) Kothari Damien Atkins Cameron A. Mingay Andrew McLeod John Bursic Claus Gerber

Firm(s)

Cassels Brock & Blackwell LLP Chadbourne & Parke LLP Blake, Cassels & Graydon LLP Blake, Cassels & Graydon LLP Skadden, Arps, Slate, Meagher & Flom LLP