Private Placement
Kinross has also agreed to purchase 15 million common shares of Aurelian
on a private placement basis, at a price of $4.75 per share for total
subscription proceeds of approximately $71 million, to assist with the
development of FDN and for general corporate purposes. The private placement
is not conditional on completion of the offer. The private placement as well
as the issuance of the Kinross common shares and warrants pursuant to the
offer are subject to TSX approval.