TORONTO — A majority of shareholders of miner Aurelian Resources Inc. have tendered their shares to Kinross Gold Corp.'s $1.2-billion bid.

Kinross said 108.5 million shares were tendered to the bid, giving it a 74.8 per cent stake in Aurelian. That figure will rise to 80.8 per cent when all options are exercised.

Kinross has also extended its offer for the remaining shareholders to Sept. 15.

The all-stock transaction is expected to expand Kinross' development properties, adding a major project in Ecuador — in particular the Fruta del Norte deposit, which contains an estimated 13.7 million ounces of contained gold and 22.4 million ounces of silver.

On the TSX Thursday, Kinross shares traded down 17 cents or one per cent at $15.40. Aurelian stock fell four cents to $5.29.