www.kinross.com

Kinross Gold Corporation (TSX: K; NYSE: KGC) (“Kinross”) announced

today that it has priced a 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 will be

unsecured, senior obligations of Kinross and will be wholly and unconditionally guaranteed by certain of Kinross’

wholly-owned subsidiaries that are also guarantors under Kinross’ amended and restated senior unsecured credit

agreement. The offering is expected to close on August 22, 2011.

Kinross intends to use the proceeds of the offering for general corporate purposes, including funding for capital

expenditures.

The offering is being 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.