dedicated to being world class...$0.82 $1.15 $0.85 $1.32 fort knox true north total 2003 2004...

Kinross Investor PresentationKinross Investor PresentationMay 11, 2004May 11, 2004

dedicated to beingworld class

Certain statements set forth in this presentation constitute"forward looking statements" within the meaning of the

United States Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and

other factors that may cause the actual results, performance or achievements to differ from those expressed or implied by such forward looking statements.

Such risks and uncertainties are described in periodic filings made by Kinross Gold Corporation with the U.S. Securities and Exchange Commission and

Canadian provincial securities regulatory authorities.

All dollar amounts used throughout this presentation are expressed in US dollars, unless otherwise noted.

Forward Looking StatementForward Looking Statement

Meeting Agenda Meeting Agenda

Jerry DanniVice President, Environmental, Health & Safety

Environmental

Ron StewartVice President, Exploration

Exploration

Bob TaylorVice President and General Manager, Kettle River

Kettle River

Fred MasonVice President and General Manager, Refugio

Refugio

Mike IannacchioneVice President and General Manager, Round Mountain

Round Mountain

John WildVice President and General Manager, Fort Knox

Fort Knox

Scott CaldwellExecutive Vice President and Chief Operating Officer

Operations

Bob BuchanPresident & Chief Executive Officer

Corporate

Bob BuchanBob BuchanPresident & President &

Chief Executive OfficerChief Executive Officer

DEDICATED TO BEING WORLD CLASSDEDICATED TO BEING WORLD CLASS

Brian PennyVP, Finance/Chief Financial Officer

John IvanyExecutive VP

Scott CaldwellExecutive VP, Chief Operating Officer

Chris HillVP, Investor Relations

Ron StewartVP, Exploration

Bob BuchanPresident & Chief Executive Officer

Bench Strength - CorporateBench Strength - Corporate

Kinross Gold CorporationOperations Management Organization

Kettle River

PorcupineJV

MusselwhiteJV

Blanket

Lupin

Rick BakerVP, Operations

RoundMountain

Refugio(Operations)

La CoipaJV

Mike DoyleVP, Operations

Ft. Knox

Kubaka

ParacatuJV

CrixasJV

Alan EdwardsVP, Operations

Refugio(Project Phase)

Pamour

Paracatu

Buckhorn Mtn.Development

Gurupi

Andy KaczmarekVP, Project Develpment

Al SchoeningVP, HR & Public Affairs

Jerry DanniVP, Environment, H&S

Rod CooperVP, Technical Services

Scott CaldwellExecutive Vice President & Chief Operating Officer

Bench Strength - OperationsBench Strength - Operations

• Out of Greece

• Approved Refugio restart, construction underway

• Moving ahead with Pamour project in Timmins

• Fort Knox pit layback approved and underway

• Paracatu SAG Mill

• Buckhorn transaction

• Hedge Book now expected to be eliminated in Q2/04

Going ForwardGoing Forward

Kinross is now a major gold producer, focused Kinross is now a major gold producer, focused in the Americasin the Americas

Concerns addressed:

Financial leverage – strong balance sheet

Cash costs – comparable to other North American seniors

Reserve life – increasing year over year

Execution risk – None

Deliver on the deliverables

Kinross TodayKinross Today

Continue expanding the reserve base

Go back to the drill bit

Find and retain quality employees

Meet or exceed Corporate Governance standards

Corporate Mission…StrategyCorporate Mission…Strategy

“DEDICATED TO BEING WORLD CLASS”

Work the current portfolio to its potential

Looking Ahead - 2004 GoalsLooking Ahead - 2004 Goals

2. Use excess capital to advantage• Kinross has cash on hand, strong cash flows and is virtually debt free

3. Deliver on the deliverables• Kinross will meet its production and operating cost forecast

4. Achieve and maintain 2 million ounce production profile• Existing mines and a robust pipeline will make this ultimate goal a

reality

1. Replace and increase reserves• Paracatu expansion; Buckhorn

• Increase average mine life from 7 to 8 years in 2004

Scott CaldwellScott CaldwellExecutive Vice President & Executive Vice President &

Chief Operating OfficerChief Operating Officer


Kinross Gold CorporationOperations Management Organization

Kettle River

PorcupineJV

MusselwhiteJV

Blanket

Lupin

Rick BakerVP, Operations

RoundMountain

Refugio(Operations)

La CoipaJV

Mike DoyleVP, Operations

Ft. Knox

Kubaka

ParacatuJV

CrixasJV

Alan EdwardsVP, Operations

Refugio(Project Phase)

Pamour

Paracatu

Buckhorn Mtn.Development

Gurupi

Andy KaczmarekVP, Project Develpment

Al SchoeningVP, HR & Public Affairs

Jerry DanniVP, Environment, H&S

Rod CooperVP, Technical Services

Scott CaldwellExecutive Vice President & Chief Operating Officer

Bench StrengthBench Strength

Growth from within

Attention to assets

Bench Strength

Proven transactionalcapabilities

Paracatu expansion, Gurupi, Refugio

Optimize cash starved assets -Round Mountain, Kettle River

Strengthen management team by attracting and retaining quality employees

Corporate transactions where synergies can be realized

StrategyStrategy

John WildJohn WildVice President & General Manager, Vice President & General Manager,

Fort KnoxFort Knox


Fort KnoxFort Knox

Operating StatisticsOperating Statistics

7.243.426.6Capital costs ($ millions)

0.9050.9291.07Average grade (grams/tonne)

3,21613,52413,685Tonnes milled (000)

7,88448,39239,214Tonnes mined(000)

291220244Total cash costs ($/ounce)

75,980340,000303,999Gold production (ounces)

Q1 20042004E2003

PHASE 5 >>Mining Tons

2004 Actual TargetJAN 396 kt 500 ktFEB 933 kt 350 ktMAR 1,100 kt 522 ktTotal 2,429 kt 1,372 kt

<< PHASE 6 >>Mining Tons

2004 Forecast BudgetAPR 300 kt 0 ktMAY 700 kt 0 ktJUN 700 kt 938 ktJUN 1,700 kt 938 kt

Mining ProgressMining Progress

<< PHASE 4Waste to Pearl Creek Causeway2004 Actual TargetMAR 800 kt 375 ktAPR 300 kt 375 ktMAY 0 kt 350 ktTotal 1,100 kt 1,100 kt

– DRILL AND BLAST• actual drill time %• Drill pattern and blast design• Ongoing product testing• Mill throughput optimization

– GRADE CONTROL• Pattern preparation and cleanup• Shovel operator feedback reports• Increased technical support

OpportunitiesOpportunities

• EQUIPMENT EFFICIENCY• Flexibility (broken muck inventory, equipment avail%)• Bottlenecks (crusher flow, waste dump alternatives)• Crew exchange and scheduled downtime• Supervisor training and pre-/post-project review• Lost opportunity tracking (minutes, tons, ozs, $)

OpportunitiesOpportunities

Total Tonnes Moved, 17% increase

25.4

11.06.0

48.343.7

3.4 1.7

41.8

Fort Knox True North Rehandle Total

20032004

$0.89$1.04

$0.82

$1.15

$0.85

$1.32

Fort Knox True North Total

20032004

Decrease mining unit costs 8%

Improved Mining ResultsImproved Mining Results

Drill Productivity, 14% increase

115

66%

120

80%

Drill Time, % Pen. Rate, fph

20032004

6,163

0 00 0

4,873

7,000

0

10,000

6,000

7,700

6,6006,743

7,598

5,792

9,128

CAT 777 CAT 785 MT3700 CAT 789

2001 2002 2003 2004

Tire Hour Life, 10% increase

Improved Equipment AvailabilityImproved Equipment Availability

– Technical training– Team building with NC

Machinery– ALPM April, 2004– Improved efficiency in-pit

fuel and servicing– Planning and Supervision– Planned vs. actual

maintenance– JD Edwards interface

Better Availability via MaintenanceBetter Availability via Maintenance

2004 OBJECTIVES

– Add 100,000 oz to the Gil (Placer Target)– Test remaining Ft. Knox in-pit and pit expansion

targets. Potential to add 50-100,000 oz– Ft Knox mine plan optimized, potential to add 200,000

oz. to reserves.

ExplorationExploration

- Test additional exploration targets between Ft Knox and Gil, peripheral to True North and elsewhere in the district.

Fort KnoxFort Knox

Mike IannacchioneMike IannacchioneVice President & General Manager, Vice President & General Manager,

Round MountainRound Mountain


Tailings Dam Dedicated Pad

Town

Reusable Pad Pit

Mine OverviewMine Overview

Mine OverviewMine Overview


8023,3002,459Tonnes milled (000)

2,1757,2006,453Tonnes placed – Reusable pad (000)

1.38.14.9Capital costs ($ millions)

0.530.510.59Average grade (grams/tonne)

14,45747,10048,486Tonnes placed – Dedicated pad (000)

8,68439,00044,566Tonnes mined (000)

191223201Total cash costs ($/ounce)

94,985367,500399,854Gold production (ounces)

Q1 20042004E2003

• Round Mountain Pit Expansion– 2 million ounce potential, $3.1 MM drill cost (Phase I)

• Round Mountain Underground Development– 1 million ounce potential, $13.0 million

• Gold Hill Reserve Expansion– 1 million ounce potential, $1.05 MM (first phase)

• Gold Hill Underground Exploration– +1 million ounce potential, $190K

• “Golden Triangle” Focused Exploration– +1 million ounce potential, $2.6 MM

• Total Program Cost– Total potential +6 million ounces, $20 MM over two years

Exploration Program SummaryExploration Program Summary

Round Mountain Pit ExpansionRound Mountain Pit Expansion

Current Pit Crest

Ultimate Pit

1000

Potential Pit Expansion

Current Ultimate Pit Outline

Outline of the $500 MI & I Optimized Shell

A

A`

Section Line

A A`

Inferred Resource > 0.006 opt Au External to $500 Shell

Round Mountain Pit ExpansionRound Mountain Pit Expansion

0 1000Scale

Main Gold Hill Area Shallow Resource

Current $325 Reserve Pit Design

Resource > 0.006 opt Au

Deep Resource - Potential

Mt Jefferson Caldera Margin

Surprise M-Ace Area

Gold Hill Ore BodyGold Hill Ore Body

Target• “Midas-style” high grade veins or vein swarms

– Rapidly thickening hot springs sinter-filled basins are a guide to high grade feeder zones

– Potential for + 1 million ounces

• Drill four deep holes testing section below the thickest areas of the sinter basins

• US $190,000

• Drilling to commence in April

Gold Hill Underground OpportunityGold Hill Underground Opportunity

1000

Current $325 Reserve Pit Design

Resource > 0.006 opt Au

Mt Jefferson Caldera Margin

0 1000

Resource is open towards the South-West and at Depth

Caldera Margin

Mineralization

Sinter Basins

Midas-style veins

Gold Hill Exploration ConceptsGold Hill Exploration Concepts

4,000'0

Feet2,000'

Dry Canyon CalderaDry Canyon Caldera

Mt. Jefferson CalderaMt. Jefferson Caldera

Round Mountain Gold MineRound Mountain Gold Mine

Jefferson DistrictJefferson District

Dry Canyon CalderaDry Canyon Caldera

Range

Fro

nt Fau

lt

Range

Fro

nt Fau

ltCaldera Caldera

Margin FaultMargin Fault

Mt JeffersonMt Jefferson

Margin FaultMargin Fault

$325 Pit Outline$325 Pit OutlineLimits of Known SinterLimits of Known Sinter N

East SurpriseEast SurpriseTargetTarget

Mt. Jefferson Caldera Mt. Jefferson Caldera Margin TargetMargin Target

South Gold HillSouth Gold HillTargetTarget

Gold Hill ProjectGold Hill Project

Fred MasonFred MasonVice President and General Manager, Vice President and General Manager,

Compania Minera MaricungaCompania Minera Maricunga


Refugio – Arial ViewRefugio – Arial View

3,433,0000.86124,054TOTAL

1,230,0000.8246,476PANCHO

2,203,0000.8877,578VERDE

GOLD(ounces)

GRADE(Au g/t)

TONNES(t x 1000)

Mineral Reserves (US $350)Mineral Reserves (US $350)

Key Projects Include:

New Mining Fleet

Rehabilitation of Man Camp

New Power Line (instead of generators)

ADR and PAD Rehabilitation

Re-design/Rebuild crushing & conveying system

Phased Leach Pad Construction to maximize gold release and efficient pad loading schedules

Implement New Hire Employee Training Program

Site Safety and Training Program

Pre-Strip approximately 3 Million Tonnes

Rebuilding RefugioRebuilding Refugio

Key Projects to cost $46.5 Million

Power Line Construction

Crusher and Conveyor Rebuild

Water System Delivery Upgrade

General Projects (Including Ponds, Earth Works, Dust Control etc)

Upgrade of Maintenance Shop / Wash Bay

Rebuilding RefugioRebuilding Refugio

Summary

60 % Completion of Engineering

Key Long Lead Time Items Procured

Equipment Selected and Purchased

On schedule for Q4 2004 start-up

Capital costs of $102 million

Estimated annual production of 230,000 - 240,000 ounces

Average total cash costs of $225 - $235 per ounce

Current Project StatusCurrent Project Status

Bob TaylorBob TaylorVice President & Vice President &

General Manager, Kettle RiverGeneral Manager, Kettle River


Kettle RiverKettle River


0.51.59.4Capital expenditures ($ millions)

8.248.74n/aAverage grade (grams/tonne)

96,862359,500n/aTonnes milled (000)

73,625336,30029,544Tonnes mined (000)

228208n/aTotal cash costs ($/ounce)

25,347100,000n/aGold production (ounces)

Q1 20042004E2003

KETTLE MINE

Fault (?)

EMANUELCREEK VEIN

EMANUEL NORTH

Resistivity Anomalyand N-S Fault(s)

K2 MINE

EAST VEIN

NB97- 4 (-70/250 TD 1,509 ft)11 ft @ 0.113 Au OPTIn Sanpoil Fm.

CURLEW AREA 2004 EXPLORATION

E X P L A N A T I O N

Phase I Surface Core Holes (3)Phase II Surface Core Holes ( 3 ?)Phase II Surface RC Holes (4 ?)

Resistivity Anomaly - High (Silicification ?)From CSAMT and IP & Resistivity Surveys

Collar Location of existing drill hole

SCALE

2,000 FT ? JANUARY 26, 2004

Phase 1 5 Core Holes Emanuel North

Kinross Gold Corp.Kettle River Operation

N

Kettle River –Curlew District Prospects

Kettle River –Curlew District Prospects

A A’

4500 EL

3500 EL

2500 EL

1500 EL

500 EL

0 EL

-500 EL

-1500 EL

4500 EL

3500 EL

2500 EL

1500 EL

500 EL

0 EL

-500 EL

-1500 EL

Klondike Mtn. Fm.

Sanpoil Volcanics

Cur

lew

Cre

ek F

ault

Paleosurface

Foster Fault

Bacon Creek Fault

K2-East Vein288,000 oz.

Emanuel Creek 200,000 oz.& Emanuel North 250,000+ oz.

Kettle Mine64,000 oz.

0 1000 2000

Scale in Feet

Alluvium / TillKlondike Mtn. Fm. (Tkm)Quartz Monzonite

Sanpoil Volcanics

Vein Systems

FaultsExplanation:

7000 feetsparsely drilled

Anomalous Au

1995-97 Drilling

• Kettle and K2 found by surface showings• Gold deposits of this type—low-sulfidation epithermal veins—occur in clusters• Emanuel Creek and Emanuel North at west edge of buried basin• Strong alteration and/or anomalous Au below paleosurface wherever tested,

evidence of a large hydrothermal field.• Most veins are E-dipping, therefore W-dipping drill fence is being planned• Seismic reflection or additional CSAMT survey under evaluation

Curlew District Summary

West Kettle Area

Emanuel North

Emanuel North Exploration Drilling Plan

April-June 2004 • 4 Surface Holes• 6160 Feet • $26/Ft

Surface Drill Target:Northern continuationof Emanuel North

• 4 UG Holes• 5900 Feet • $16/Ft

N

500 Feet

Bjornson Surface Drill Sites

A

B

C

DEJI

G

H

F

E

K

L

M

N

• 4 Surface Holes• 7,610 Feet • $26/Ft

Underground Drill Targets:Southern continuation, and/or repetition of, Emanuel North

Target: Down-dip and hanging-wall tests of Emanuel North

Foster Fault1000’ Elev’n

Eman

uel

Cree

k

Faul

t

K2 Dike Trend

EC D

ike

Tren

d

EC

WZ

Emanuel NorthGrowth Potential

TF

ExplanationFault, dashed where

speculativeMineralized potential

Proposed drill-hole

1055 Level

990 Level

925 Level

860 Level

810 Level

Emanuel Creek Grade Shell Stopes Completed

Looking West

E K M

Printed 03-10-04

G IA800 EL

1000 EL

900 EL

1100 EL

Kettle River – Emanuel Creek DepositKettle River – Emanuel Creek Deposit

Andesite

Late Porphyry Dikes

Diorite -Buckhorn Pluton

Granodiorite -Buckhorn Pluton

Buckhorn Andesite

Clastic Sediments

Marble

Skarn (ore host)

Cre

tace

ous

-Ter

tiary

Per

mia

n-Tr

iass

ic

2,000 FtN

BUCKHORN MOUNTAIN PROJECT

Extent of Au-mineralized skarn

subsurface

Gold BowlZones

SW Zone

Terti

ary

Portland, OR

Seattle

UNITED STATESCANADA

W A S H I N G T O N

Spokane


SURFACE GEOLOGY PLAN


0.89 / 10’1.10 / 17’

2.03 / 10’ 1.42 / 20’2.26 / 15.5’

N Lookout Fault

1.28 / 10’

0.96 / 15’

1.52 / 20’

0.48 / 5’

W E

0.31 / 35’ 0.35 / 30’

0.29 / 35’

0.43 / 20’

0.46 / 30’0.28 / 30’

100 feet

Au-opt / Feet 1.42 / 20’

Figure 56

SOURCE: Crown Resources Corp.2002 Annual Report

SW Zone Cross-Section (Looking N)

Buckhorn Mountain –Reserves and Resources

Buckhorn Mountain –Reserves and Resources

Metric Tonnes

Grade (gms/tonne)

Contained Gold (ounces)

Probable ReservesSW Zone 2,241,800 11.7 840,200

Gold Bowl 548,400 8.6 151,100

Total 2,790,200 11.1 991,300

Indicated ResourcesGold Bowl 110,200 19.2 68,000

Reserves calculated by Crown Resources Inc., based on a gold price of $350 / oz.

Ron StewartRon StewartVice President, ExplorationVice President, Exploration


1. Replace Reserves at Existing Mines

2. Advance Projects Within The Current Pipeline

3. Identify & Acquire New High-Quality Exploration and Development Projects.

Exploration StrategyExploration Strategy

• Reserve growth in 2003

• Reserves defined at new deposits - Emanuel Creek, Pancho, Gold Hill, Tsokol

• New discoveries at Kettle River (Emanuel North), Crixas (Forquilha Sul), Hoyle Pond (A Vein & UM Zone), La Coipa (Puren)

• Advancing projects – Gurupi, Aquarius, Gil, PQ Deeps

• Acquired new projects – Wind River, Buckhorn, Esperanza

• More that 30 drills deployed – 90,000 metres drilling complete in Q1 / 04

Achievements 2003 / Q1 2004Achievements 2003 / Q1 2004

Drilling Activity – Q1 2004Drilling Activity – Q1 2004

0 5000 10000 15000 20000 25000 30000

Lupin

Broads Dam

Gurupi

Kubaka

CrixasLaCoipa

PJV

R. Mtn.

Mwhte

m (000's)

YTDMar

LaCoipa MDO JV (50% Kinross)LaCoipa MDO JV (50% Kinross)

• Puren (65% MDO, 35% Codelco)

• 3 drills – 11,525 m drilled in Q1

• Significant Results in Q1

• Infill: 42m @ 2.36 g/t Au, 79.4 g/t Ag; 128m @ 1.56g/t Au, 294 g/t Ag; 148m @ 0.65 g/t Au, 256 g/t Ag, 80m @ 2.60 g/t Au, 72 g/t Ag;

• NW Discovery: 44m @0.25 g/t Au, 634 g/t Ag; 36m 0.32 g/t Au, 422 g/t Ag

• Feasibility study underway

• Optioned additional exploration ground in the district

North Dump

South Dump

Phase 2

Phase 1Phase

NW

Property Boundary

Puren – Section 700 NEPuren – Section 700 NE

29.7/2099.8/62

104.4/52

34.4/66

2.19/981.42/36

1.87 / 114

2.32/126

1.94/94

1.24/100

Maite

Karla

Isidora

Soledad

4,200m

4,000m

3,800m

Proposed Pit

4,400m200 metres

104.4/521.94/94 Grade (g/t Au) / Core Length (metres)

Grade (g/t Ag) / Core Length (metres)

Upper Volcanics

Lower Volcanics

FaultDrill holeIntersection - Gold, SilverOverburdenSilica CapArgillic AlterationSilica-Argillic AlterationSilica AlterationUnalteredAu Mineralization (0.1g/t)Ag Mineralization (10.0g/t)

Karla


Maite Karla

Isidora

4,200m

4,000m

3,800m

Proposed Pit

4,400m

257.0/154

369.9/168

575.3/150

749.0/841.82/90

1.54/52

1.37/1420.95/84

200 metres



Upper Volcanics

Lower Volcanics


Karla


Maite

Karla

Isidora4,200m

4,000m

3,800m

4,400m

641.7/90

213.4/90

288.5/36

200 metres




Karla

Upper Volcanics

Lower Volcanics

Porcupine JV (49% Kinross)Porcupine JV (49% Kinross)

• 6 drills active 17,121m drilled in Q1

• New high-grade discovery called the UM zone at Hoyle Pond

• Significant Results in Q1• UM Discovery: 0.8m @ 253.4 g/t; 6.1m @ 43.37 g/t; 3.4m @ 17.88 g/t; 11.75m @ 81.24 g/t • A Vein:0.35m @ 2772.9 g/t; 0.9m @ 148.6 g/t; 0.35m 579.15 g/t

• Largest land holder with extensive pipeline of projects in the prolific Timmins Camp

Hoyle Pond – A VeinHoyle Pond – A Vein

Diabase Dike (Oblique)Proven & ProbableIndicatedDevelopment

Dec 31, 2003 Reserves & Resources

Proven & Probable

Longitudinal SectionLooking NW

0 50 100m

540mL

580mL

620mL

660mL

740mL

780mL

T200

T250

T150

T100

Drilling in Progress

>10 gpt / 1.2m HMW<10 gpt / 1.2m HMW

2003 RESERVE 620-820mL

Proven & Probable100,107t @ 23.05g/t 74,185

oz

Q1 04 Production740 & 700

development

2,665t @ 47.32 g/t

Indicated14,871t @ 20.02g/t

T300

T350

T400

22.49/1.2m HMW

50.25/1.2m HMW

Intersections:

820mL

900mL

780mL

940mL

700

740

940 133.13 / 0.25m VG

CURRENT DRILLINGTO EXPAND RESERVES

April 2004 Chip

Gurupi (100% Kinross)Gurupi (100% Kinross)

• 4 drills – 5,016m completed

• 2.7 M oz indicated resource in Cipoeiro and Chega Tudo

• Significant Results in Q1• Cipoeiro 36m @ 2.82 g/t; 17m @ 1.24 g/t; 14m @ 1.19 g/t; 49m @ 2.63 g/t •Chega Tudo: 42m @ 1.68 g/t; 15m @ 1.81g/t; 27m @ 1.42 g/t

• Pre-feasibility study underway

• Excellent property exploration potential

Deformed TonalitesGranitic RocksVolcanic RocksSedimentary RocksFaultGold Occurrence

10 kilometres

Gurupi Property

Brazil

Rio de Janeiro

sedimentaryCover

Chega Tudo

Cipoeiro

Kinross Holdings

Goldfields S.A.

Goldfields S.A.

CVRD

Metasediments

TonaliteSection 4

Section 5

Section 6 Section 8

Section 10

Section 11A

E x p l a n a t I o n

Deposit Outline

Kinross Infill Hole

Existing Drill Hole (pre-Kinross)

Contact Contact ZoneZone

Blanket Blanket ZoneZone

9,751,000

9,750,000

364,000 365,000

Scale (meters)

2000 300 400 500100

N

Section 9

Gurupi – Cipoeiro DepositGurupi – Cipoeiro Deposit

Cipoeiro – Composite SectionCipoeiro – Composite Section

KCP-272

KCP-273

75 m

75 m

0.51/11

1.69/220.82/7

1.19/41

1.73/7

1.11/15

0.68/10

1.06/26

2.02/50

0.79/6

1.32/14

1.38/16

0.73/31

1.53/182.04/32

2.40/301.14/18

0.87/10

1.11/6

2.13/17

0.76.13

1.14/5

1.52.43

1.08/19

0.87/82.30/6

1.02/10

1.52/21 1.23/16

1.19/51

0.69/18

KCP-270

KCP-271

KCP-259

KCP-258

KCP-275

SaproliteMetasedimentsTonaliteOre Zone

Kinross Drill Hole (KPT-)Other Drill Hole

1.06/26 Grade (g/t Au) / core length (metres)Drill Intersections

Assayspending

Assayspending

0.67/10

0.67/13

1.34/680.70/9

1.51/48

1.05/19

1.19/15

0.57/20

0.53/360.27/8

Chega Tudo – Composite SectionChega Tudo – Composite Section

SaproliteMetasedimentsMetavolcanicsMineralized Zone

Kinross Drill Hole (KCT-)Other Drill Hole

1.06/26 Grade (g/t Au) / core length (metres)

Drill Intersections

Gabbro

1.00/580.63/36

0.63/22

0.71/8.0

KCT-260

KCT-261

1.60/44

1.38/10

3.32/14 0.74/14

2.46/101.92/11

1.75/15

1.59/9

1.81/15

0.56/11

1.19/33

1.51/39

0.63/16

0.62/19

0.55/36 1.01/20

1.04/330.53/28

Kubaka (98.1% Kinross)Kubaka (98.1% Kinross)

• 3 drills active 6,789m drilled in Q1

• Birkachan U/G potential being evaluated

• Significant Results in Q1• Birkachan: 3.8m @ 14.81 g/t; 2.9 @ 11.62 g/t; 1.7m @ 42.03 g/t; 4.3 @ 148.3 g/t

• 24,500m drilling approved for Birkachan and Tsokol

Wind River (Kinross Option)Wind River (Kinross Option)

• Option to purchase finalized in Q2

• Tertiary low sulphidationepithermal vein

• Three known veins, mine development in place on Vein #2.

• Vein 5• Average 14 ft true thickness grading 0.48 opt based on 24 holes;• 1.0 million ounce potential outlined

• 2 phase, 38 hole, 3600m drill program approved – commencing in Q2

1800 FT1700 FT

1600 FT2400 FT

2200 FT2000 FT

2100 FT2300 FT

2000

FT

2100

FT

2200

FT

1900 FT

2300

FT

2400

FT

1700

FT

1800

FT

1900

FT

WR-9

0.43/10ft

0.90 / 10ft0.51 / 16ft

0.68 / 20ft

0.41 / 16ft

Looking N 15ºE

200 Ft

VEI

N N

o. 5

Vein No.5 Cross-Section

PROPOSED CORE HOLES

Intercepts 0.43/10ft ounces per ton / true thickness in feet

Wind River OptionWind River Option

WR 2002 RC Hole

Youngquist Core Hole

Delano Core HoleContours are true thickness in feetPosted grades are Au opt

0 400 ft

(Looking West) 0.825 / 33’

0.351 / 25’

0.366 / 30’0.468 / 30’

0.38 / 7.7’

0.546 / 50’

0.68 / 19.5’

0.90 / 20’

0.21 / 11’

0.27 / 8’

0.25 / 8’

0.76 / 5’

2.22 / 2.5’

0.43 / 10’

0.574 / 20’

0.35 / 10’

0.64 / 19’

0.35 / 10’

0.51 / 16’

0.19 / 14’

0.53 / 17’0.20 / 11’

0.325 / 12.5’

0.32 / 11’

• Focus on reserve growth, advancing the pipeline and acquiring new high quality projects

• Major new exploration campaigns approved at Round Mountain, Kettle River, Fort Knox, Kubaka and Gurupi

• 2004 budget of $20 million

SummarySummary

Jerry DanniJerry DanniVice President, Vice President,

Environmental, Health and SafetyEnvironmental, Health and Safety


Core Business Functions:• Exploration• Acquisition• Development• Operations• Closure

“World Class” EH&S Program“World Class” EH&S Program

DirectorHealth & Safety(Hugh Ducasse)

Vice PresidentHealth & Safety

(Open)

ManagerEnvironmental Affairs

(Lisa Wade)

Vice President Environmental

Affairs(Ed Opitz)

Vice PresidentRegluatory and Gov't Affairs

(Debbie Struhsacker)

General ManagerKinross Minera Chile(Guillermo Contreras)

Project ManagerBuckhron Project

(Scott Marikis)

EnvironmentalManager(Mark Ioli)

EngineeringManager

(Kevin Roach)

Project ManagersReclamationOperations

VP/GMReclamation Operations

( Bill Goodhard)

Vice PresidentEnvironment, Health and Safety

(Jerry Danni)

Board of DirectorsEHS Committee

Scott CaldwellChief Operating Officer

EHS Organizational StructureEHS Organizational Structure

2003 2004 2005 2006 2007 +

Closure Property ScheduleClosure Property Schedule

Guanaco

Haile

Hayden Hill

Mineral Hill

Lupin

Wind Mountain

Sunnyside

QR

New Britannia

Sleeper

Delamar

Candelaria

Closure Property SpendingClosure Property Spending

($US millions) 2004 2005 2006 2007 +

Care and Maintenance 0.52 0.43 0.58Delamar 7.44 4.17 3.41 0.61Haile 4.50 1.79 0.23 0.17Hayden Hill 0.53 0.70 0.17 0.21Mineral Hill (1.16) 0.27 0.24 0.41Sunnyside 0.22 0.21 0.02 0.00Wind Mountain 0.01 0.01 0.01 0.05

Total Reclamation Costs 12.1 7.6 4.7 1.5

-5,0000

5,00010,00015,00020,00025,00030,00035,00040,00045,000

2003 2004 2005 2006 2007 2008 2009 2010 2011+

Total Closure Property ObligationTotal Closure Property ObligationU

S$ th

ousa

nds

05,000

10,00015,00020,00025,00030,00035,00040,00045,00050,000

2003 2004 2005 2006 2007 2008 2009 2010 2011+

Closure Property Financial AssuranceClosure Property Financial AssuranceU

S$ th

ousa

nds

Kinross Investor PresentationKinross Investor PresentationMay 11, 2004May 11, 2004

dedicated to beingworld class

dedicated to being world class...$0.82 $1.15 $0.85 $1.32 fort knox true north total 2003 2004...

Documents