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Kinross acquired its 49% interest in the Cerro Casale gold-copper deposit in northern Chile on February 28, 2007, through its acquisition of Bema Gold. Barrick Gold held the remaining 51% interest. As a result of a new shareholders agreement entered into with Barrick and an associated reorganization of the corporate ownership in September 2009, each of Kinross and Barrick now have a 50% interest.

Discovered in 1996, Cerro Casale is located 145 kilometres southeast of Copiapó, and is directly south of Kinross' Maricunga mine.

The Cerro Casale deposit is a large gold and copper orebody with reserves (100%) of approximately 21 million ounces of gold and 5 billion pounds of copper. It is reputedly one of the largest undeveloped gold/copper deposits in the world.

Kinross is now in the process of reviewing and optimizing the draft feasibility study on Cerro Casale with Barrick Gold and the technical committee that oversaw the work.  Kinross expects to release details of the study and file a technical report in the first quarter of 2010, including overall project economics, assumptions and recommendations.  In parallel, permitting and engineering development work is continuing, and Kinross expects to spend approximately $50 million in 2010 to support advancing the project.

Mineral Reserve and Resource Summary

Kinross' share as at December 31, 2009

 a) Measured and Indicated Resources exclude Proven and Probable Reserves