Delivering Disciplined Growth · • Continuing to deliver strong financial results $ Revenue +26%...

DeliveringDelivering Disciplined Growth

Cormark Securities Sales Desk PresentationJanuary 12, 2011

Cautionary Statement on Forward‐Looking Information

All statements, other than statements of historical fact, contained or incorporated by reference in or made in giving this presentation, including any information as to the future performance of Kinross, constitute “forward looking statements” within the meaning of applicable securities laws, including the provisions of the Securities Act (Ontario) and the provisions for “safe harbour” under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this presentation. Forward looking statements include, without limitation, possible events; opportunities; statements with respect to possible events or opportunities; estimates and the realization of such estimates; future development, mining activities, production and growth, including but not limited to cost and timing; success of exploration or development of operations; the future price of gold and silver; currency fluctuations; expected capital expenditures and requirements for additional capital; government regulation of mining operations and exploration; environmental risks; unanticipated reclamation expenses; and title disputes. The words “plans”, “expects”, “subject to”, “budget”, “scheduled”, “timeline”, “projected”, “pro forma”, “estimates”, “envision”, “view”, “forecasts”, “guidance”, “conceptual”, “target”, “possible”, “illustrative”, “model”, “opportunity”, “potential”, “intends”, “anticipates” or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “can”, “could”, “would”, “should”, “might”, “indicates”, “will be taken”, “become” “create” “occur” or “be achieved” and similar expressions identify forward looking statements Forward looking statements are necessarily based upon abecome , create , occur , or be achieved , and similar expressions identify forward looking statements. Forward‐looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Statements representing management’s financial and other outlook have been prepared solely for purposes of expressing their current views regarding the Company’s financial and other outlook and may not be appropriate for any other purpose. Many of these uncertainties and contingencies can affect, and could cause, Kinross’ actual results to differ materially from those expressed or implied in any forward looking statements made by, or on behalf of, Kinross. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward looking statements made in this presentation are qualified by these cautionary ff y f p f f g p q f y ystatements, and those made in our filings with the securities regulators of Canada and the U.S., including but not limited to those cautionary statements made in the “Risk Factors” section of our most recently filed Annual Information Form, the “Risk Analysis” section of our FYE 2009 Management’s Discussion and Analysis and the “Cautionary Statement on Forward‐Looking Information” in our news release dated November 3, 2010, to which readers are referred and which are incorporated by reference in this presentation, all of which qualify any and all forward‐looking statements made in this presentation. These factors are not intended to represent a complete list of the factors that could affect Kinross. Kinross disclaims any intention or obligation to update or revise any forward‐looking statements or to explain any material difference between subsequent actual events and such forward‐looking statements, except to the extent required by applicable law.

Other information

Where we say "we", "us", "our", the "Company", or "Kinross" in this presentation, we mean Kinross Gold Corporation and/or one or more or all of its subsidiaries, as may be applicable. The technical information about the Company’s mineral properties contained in this presentation has been prepared under the supervision of Mr. Rob Henderson, an officer of the Company who is a “qualified person” within the meaning of National Instrument 43‐101 (“NI 43‐101”). The technical information about the Tasiast mineral resource contained in this presentation has been prepared under the supervision of Mr. Nic Johnson, who is a “qualified person” with the meaning of NI 43‐101.

2

I. Why Gold Now?

3

Increasing Demand for Gold

$1,450

$160

$170 Investment / Other

Total Fabrication

$1,050

$1,250

$110

$120

$130

$140

$150

z.)billion

s)

Gold Price (US$/oz)Current gold price

$650

$850

$70

$80

$90

$100

$110

Price (US$/oz

Dem

and (US$

$250

$450

$30

$40

$50

$60

$70

Gold

Total G

old D

‐$150

$50

$0

$10

$20

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010e

4Source: GFMS World Gold Survey 2010 – Update 1

Declining world supply from mine production

3,000Other

2001: Peak Production

2 000

2,500Big Four*

1,500

2,000

Tonn

es

500

1,000

0

500

1969 1974 1979 1984 1989 1994 1999 2004 2009e2009

5

* South Africa, United States, Australia, Canada

Source: GFMS World Gold Survey 2010

Major Gold Discoveries: 1997 ‐ Present

80

90

3 000

3,500

oz.)

ding

50

60

70

2 000

2,500

3,000

cove

ries

(MM

te S

tage

Spe

n d

30

40

50

1,000

1,500

2,000

of M

ajor

Au

Dis

c

Gra

ssro

ots

+ La

(US

$ M

M)

0

10

20

-

500

1,000

Year

Ave

rage

o

ar A

vera

ge o

f G

1997 Present 3 Y

3 Ye

a

Total Au Ounces Discovered (3 yr. Avg) Gold Exploration Spending (3 yr. Avg)

10 5 6 5 2 3 7 5 08 2# of Major Gold Discoveries

6Source: Metals Economics Group and Company estimates

Total Au Ounces Discovered (3 yr. Avg) Gold Exploration Spending (3 yr. Avg)

II. Why Kinross Now?

7

Continuing the Kinross Transformation

Kinross Yesterday4.5 – 4.9

Kinross Now(1)

(mm oz)

(mm oz)

1 6

2.2

valent produ

ction

2.6*

valent produ

ction

1.6

Gold eq

uiv

Gold eq

uiv

2005 2009 2010e 2015e

8(1) Please refer to endnote #1.* Figure represents Kinross’ 2010 production estimate, including estimated full year production from the West African assets,which were acquired September 17th, 2010

World Gold Reserves and ResourcesTop Countries

(mm oz.)Total Reserves & Resources

(mm oz.)

Total Reserves &

South AfricaRussia

United StatesBrazil Chile Country

Total Reserves & Resources

%

1. South Africa 997 29.7%

2. Russia 225 6.7%

Canada

Mexico3. Australia 193 5.8%

4. Indonesia 193 5.8%

5. U.S 177 5.3%

6 Canada 135 4 0%

Australia

Ghana6. Canada 135 4.0%

7. China 132 3.9%

8. Chile 109 3.3%

9. Mexico 109 3.3%

Indonesia

China

Other Countries

10. Ghana 87 2.6%

11. Brazil 80 2.4%

Other 916 27.3%

9Source: USGS

Total: 3,353 100%

Focused in the World’s Best Gold Districts

Fort Knox DvoinoyeHigh‐grade epithermal districtStrong North American asset base in the TintinaFort Knox

White Gold

Kettle River‐Buckhorn

Dvoinoye

Kupol

High grade epithermal district with exploration upsidegold belt, Nevada and

Washington

Round Mountain

TasiastCornerstone assets in a

Fruta del Norte

CrixasParacatu

Chiranohighly prospective region

Substantial production base and major

La CoipaMaricunga

Cerro CasaleLobo‐Marte

base and major development pipeline

10

‐ Operating mine ‐ Development project

Track Record of Gold Reserve Growth

Tasiast & Kinross

s (m

m o

z)(2

)

33.2

8.2 53.4Exploration & Development

Chirano Today

ble

Gol

d R

eser

ves 33

Mined

oven

and

Pro

bab

20.8 13.3

15.320.0Divested

Acquired

Pro 15.3

2004 Current

11(2) Please refer to endnote #2.Totals may not add due to rounding

Strong Balance Sheet

• Cash on hand: ~$1.4 bn• Long‐term investments: $713 mmLong term investments: $713 mm

o Includes equity investment portfolio valued at ~$292 mm

$1,381 As at September 30, 2010

$713llion

s

$713

$524US$

mi

Cash and cash equivalents Long‐term investments Long‐term debt

12

Q3 2010 Highlights

• Continuing to deliver strong financial results

$

Revenue +26%

Adjusted Operating Cash Flow(3,4)

+28%

Adjusted Net Earnings(4)

$582

$736

$203

$261 $124

ons

US

$ m

illio

Q3/09 Q3/10 Q3/09 Q3/10

$2

Q3/09 Q3/10

13(3) Please refer to endnote #3.(4) Please refer to endnote #4.

Q3 2010 Highlights

• Production: 575,065 ounces (up 7% from Q3/09)

• Cost of sales margin(5,6) of $673/oz. (up 37% from Q3/09)

• Paracatu outperforms expectations; 4th ball mill approved

• Closed acquisition of Red Back Mining

• Appointment of Brant Hinze as COO, effective October 1st, 2010

• Sold Harry Winston / Diavik interest

• Consolidated ownership of Kupol East & West exploration licenses

• Closed acquisition of Dvoinoye

• Tasiast update: ‐ Added 3.2 mm oz of mineral resource(7)

‐ Scoping study in progress

14(5) Please refer to endnote #5.(6) Please refer to endnote #6.(7) Please refer to endnote #7.

Q3 2010 Results

(in millions, except ounces and per Q3/09 Q3/10 % ChangeRealized COS share amounts)

Gold equivalent production(ounces)

537,440 575,065 7%(8)

Gold Price+24%

$1,190/oz

Margin(6)

+37%$673/oz

Gold equivalent sales(ounces) 554,232 576,955 4%

Revenue $582.3 $735.5 26%

(8)

Revenue $582.3 $735.5 26%

Adjusted operating cash flow $203.0 $260.8 28%

per share $0 29 $0 34 17%

(3,4)Cost of Sales(5)

+11%$517/oz per share $0.29 $0.34 17%

Adjusted net earnings $1.7 $123.6

per share $0.00 $0.16

(4)

$517/oz

15(3) Please refer to endnote #3.(4) Please refer to endnote #4.(5) Please refer to endnote #5.(6) Please refer to endnote #6.

(8) Please refer to endnote #8.

Paracatu Continues to Perform Ahead of Plan

129,257 $700130 000

117 472 118 101

,

$

$600

$650

$700

120 000

125,000

130,000

unces)

108 421

117,472 118,101

$450

$500

$550

110 000

115,000

120,000

ales ($

/oz)

prod

uction

(o

108,421

$300

$350

$400

100 000

105,000

110,000

Cost of S

a

d eq

uivalent p

$200

$250

95,000

100,000

Q4/09 Q1/10 Q2/10 Q3/10

Gol

16

Expanding Margins

$6482004 – YTD Q3 2010:

• Average realized gold price: +182%

$530

.)

• Average realized gold price: +182%

• Kinross’ attributable cost of sales margin(6): +302%

+302%

$279

$329

$436

Margin ($/oz.

$161 $170

$279

Cost of S

ales

FY/04 FY/05 FY/06 FY/07 FY/08 FY/09 YTD Q3/10

17(6) Please refer to endnote #6.

Growing Cash Flow per Share

• Record high operating cash flow in 2009 (+35% vs. 2008)

• 5‐yr CAGR : 25%

$

$1.36

US$)(4

)

$1.05

YTD/09 vs. YTD/10

$0.80

$1.01

w per Sha

re (U $0.93

$0.45$0.51 $0.56

sted

Cash Flow

FY/04 FY/05 FY/06 FY/07 FY/08 FY/09

Adjus

YTD Q3/09 YTD Q3/10


2010 Outlook(1)

Production and Costs

Country Production (000 ounces ) Cost of Sales / oz.

USA 690 – 745 $480 – 520

R i (8) 495 525 $340 365Russia(8) 495 – 525 $340 – 365

Brazil 510 – 580 $490 – 555

Chile 350 – 380 $700 – 720

Kinross (w/o West Africa) 2.2 mm oz. $495 – 510

West Africa(8,9) 135 – 155 $650 – 675

Key Sensitivities: Approximately 50% ‐60% of the Company’s costs are denominated in US dollars. A 10% change in foreign exchange could result in anapproximate $7 impact on cost of sales per ounce. A $10 change in the price of oil could result in an approximate $3 impact on cost of sales per ounce.The impact on royalties of a $100 change in the gold price could result in an approximate $4 impact on cost of sales per ounce.

Total Kinross: 2.30 – 2.35 mm oz $505 – 520

19(1) Please refer to endnote #1.(8) Please refer to endnote #8.(9) Please refer to endnote #9.

III. New Project Portfolio

20

Kinross Project Portfolio

2011 2012 2013 2014 2015

Paracatu 3rd Ball Mill

Paracatu Desulphurization

Maricunga SART Plant

Paracatu 4th Ball Mill

Dvoinoye

Tasiast

Lobo‐MarteLobo Marte

Fruta del Norte

Cerro Casale

21Conceptual timeline based on current Company estimates.

Paracatu: 3rd Ball Mill Update

Lifting mill feed end to mill shell Mill feed end lifted to mill shell

22

Paracatu: At‐site Expansion

3rd Ball Mill

• Installing 3rd ball mill to increase throughput

• Procurement commitments at 90%

• Total project 60% complete; construction at site 40% complete

• On schedule for completion and commissioning in H1 2011

4th Ball Mill

• Allows Paracatu to sustain planned throughput of ~41 mtpa in future years

• Capital estimate: $145 mm (includes $120 mm for mill; $25 mm for additional truck and electric shovel)

• Expected to start‐up in the first half of 2012

23

Exploration Update at Tasiast

• Added 11 drills; 22 rigs currently on‐site

o 16 currently on West Branch

• 64,682 m drilled in Q3 2010; 156,784 m drilled YTD

• Kinross plans an additional 50,000 m for rest of the year, plus 20,000 m beyond 8 km mine corridor

• Q4/10 exploration spending: ~$20.6 million

• Scoping study expected to be complete in December; feasibility study expected to be complete mid‐2011feasibility study expected to be complete mid 2011

24

Plan View of Drilling at Tasiast

25

Greenschist Target

Aug. ’09: 21 m at 1.74 g/tAug.’09: 17 m at 1.69 g/t Jan’10: 84 m at 1.92 g/t

Jan.’10: 85 m at 2.42 g/t

Jan.’10:94 m at 2.78 g/t

Sep.’10:81 m at 3.00g/t

Sep.’10:45 m at 4.26 g/t

Scale 100 m

Sep.’10:74 m at 4.52 g/t

Felsic Volcanic Banded Iron Formation Volcaniclastic Greenschist

26Source: Red Back Mining news releases dated August 31, 2009, January 20, 2010 and September 7, 2010, available on SEDAR as Red Back Mining documents.

Resource Growth at Tasiast

• 3.2 mm oz of Inferred Resource added in November 2010

1.9

5.1

s)(7,10)

9 2 9 31.4

nces (m

illions

3.75.4

9.2 9.30.8Ou

Year‐end 2008 November 2009 September 2010 November 2010Measured & Indicated Mineral Resources Inferred Mineral Resources

Note: Mineral Resources are reported inclusive of Mineral Reserves. For the most recent Mineral Reserve statement for Tasiast, see the Kinross website.


p ,

Tasiast: Conceptual Pit Shell

5 mm oz reserve pit

20 mm oz exploration target pit

District Targets

C6734m at 1 71g/t

C6734m at 1 71g/t34m at 1.71g/t4m at 11.10g/t19m at 1.19g/t12m at 2.18g/t

34m at 1.71g/t4m at 11.10g/t19m at 1.19g/t12m at 2.18g/t

Aoeouat15m at 3.72g/t

Aoeouat15m at 3.72g/t

ProlongationProlongation

6m at 10.62g/t6m at 10.62g/t

9m at 7.41g/t9m at 7.41g/t

C6913m at 3.89/t21m at 0.88g/t

C6913m at 3.89/t21m at 0.88g/t

Prolongation13m at 4.08g/t6m at 2.61g/t6m at 13.0g/t

Prolongation13m at 4.08g/t6m at 2.61g/t6m at 13.0g/t

292910km

15m at 1.72g/t12m at 1.07g/t10m at 1.66g/t

15m at 1.72g/t12m at 1.07g/t10m at 1.66g/t

12m at 11.1g/t12m at 11.1g/t

Please refer to the Tasiast Technical Report, dated August 18, 2010, available on Kinross’ website.

District Potential – 82 x 25 km Archean Greenstone Belt

Tasiast Geology Timmins Geology with Major Au Mines & Au Occurrences(i)

Tasiast

25 km 25 km

(i) Source: Ontario Geological Survey

30

Dvoinoye, Russia

• Closed acquisition August 27, 2010 Pevek

• Completed over 10,000 m of linear drilling

• Completed road connection between site andDvoinoye deposit &

Vodorazdelnaya• Completed road connection between site and paved highway to Pevek

• Clearing of old mine infrastructure well underway

yconcession

~100 km

• Targeted to commence commissioning in 2013 Kupol mine

31

Fruta del Norte, Ecuador

• Pre‐feasibility expected to be complete by year‐end Quito

• Geotechnical and hydrogeological drilling on La Zarza and Colibri concessions

• EIA for La Zarza exploration decline submitted

• Approval expected in H1 2011

• Water permit granted in August

• Expect to submit an EIA on the Colibri concession in Q4/10

Gold Mineral Resources(2)

Tonnes Grade OuncesTonnes (thousands)

Grade (g/t)

Ounces(thousands)

Measured & Indicated 15,932 11.20 5,737

Inferred 24,306 7.85 6,135


Fruta del Norte/Condor (100%)

• Exploration to date has located a number of

FDNepithermal and porphyry‐style targets which will be the focus of continued regional exploration

Pull-apartbasin

• FDN NI 43‐101 Technical Report:Describes major exploration targets in area of Suarez pull‐apart basin

basin• 2010 FDN exploration spending: $34 mm

33

Lobo‐Marte, Chile

• Updated pre‐feasibility study to be complete in Q4 2010

h l d ll l d

La Coipa

• Geotechnical drilling complete; condemnation, hydrological and infill drilling expected to be complete by year‐end

P i l f ddi i l 20 000 i d i

Lobo‐Marte

Maricunga

~110 km

• Permit approval for additional 20,000 m is expected in Q1 2011

• Targeted to commence commissioning in 2014

Cerro Casale

Gold Mineral Reserves and Resources(11)

Tonnes Grade OuncesTonnes(thousands)

Grade (g/t)

Ounces(thousands)

Proven and Probable Reserves 141,124 1.22 5,552

Measured & Indicated Resources 20,091 0.91 590


Valuation

35

Cormark: P / NAV

1.5

1.4

1.3

1.2

1.0

AEM ABX GG KGC AUY

36Source: Cormark Securities research – January 11, 2011

Cormark: P / 2011 CFPS

15.1

12.311.2

9.2 9.1

GG AEM KGC AUY ABX

37Source: Cormark Securities research – January 11, 2011

Key Objectives for 2010

Declare increased reserves

Complete Lobo Marte pre feasibility study Complete Lobo‐Marte pre‐feasibility study

Close sale of 25% of Cerro Casale

Complete 18,000 drill program at Fruta del Norte

l d k

Complete investment in Red Back Mining

Complete acquisition of Underworld Resources

Final feasibility study for Cerro Casale

Complete Maricunga Expansion feasibility study (H1 2010)

Close Dvoinoye acquisition

Close and integrate Red Back acquisition

Advance Fruta del Norte pre‐feasibility study

Delivery and construction of 3rd ball mill at Paracatu

Complete metallurgical testing and finalize pre‐feasibility study at Lobo‐Marte

38

Complete metallurgical testing and finalize pre feasibility study at Lobo Marte

1 High‐growth major

Why Kinross Now?

1. High growth major

2. Strong cash flow from pure gold production

3. Attractive valuation

39

Endnotes1) For more information regarding Kinross’ production and cost outlook for 2010, including Kinross’ production and cost estimate for the West African

assets acquired through the acquisition of Red Back Mining, the please refer to the news release dated November 3, 2010, available on our website at www.kinross.com.

2) “Current” proven and probable mineral reserves reflect Kinross’ Mineral Reserve and Mineral Resource Statement as at December 31, 2009, contained2) Current proven and probable mineral reserves reflect Kinross Mineral Reserve and Mineral Resource Statement as at December 31, 2009, contained in our news release dated January 28, 2010, adjusted to reflect the sale of half of Kinross’ 50% interest in the Cerro Casale project to Barrick in March 2010 and the acquisition of Tasiast and Chirano. For historical reserve and resource information, refer to Kinross’ public filings, available on our website. Proven and Probable Mineral Reserves for Tasiast and Chirano reflect Red Back’s Mineral Reserve and Mineral Resource statement as at December 31, 2009, adjusted to reflect updates in 2010. Please refer to the Red Back 2009 Annual Information Form and the Red Back news releases dated February 1, 2010, March 1, 2010, July 19, 2010 and September 7, 2010, which are available as Red Back documents on SEDAR at www.sedar.com. For historical mineral reserve and mineral resource relating the Tasiast and Chirano properties, please refer to Red Back’s public filings, available under Red Back’s profile on SEDAR.

3) Unless otherwise stated, all cash flow and cash flow per share figures in this presentation are adjusted operating cash flow.

4) Adjusted net earnings and adjusted operating cash flow numbers are non‐GAAP financial measures which are meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with GAAP. For more information about these non‐GAAP financial measures, and a reconciliation of these non‐GAAP financial measures for the three months and nine months ended September 30, 2010 and September 30, 2009, please refer to the press release dated November 3, 2010, available on our website at www.kinross.com under the heading p p p g“Reconciliation of non‐GAAP financial measures”.

5) Cost of sales per ounce is defined as cost of sales as per the financial statements divided by the number of gold equivalent ounces sold, both reduced for Kupol sales attributable to a third‐party 25% shareholder and for Chirano sales attributable to a 10% minority interest holder.

6) Cost of sales margin is defined as the average realized price of gold less attributable cost of sales per ounce.

7) For more information on Kinross’ updated Measured and Indicated Mineral Resource and Inferred Mineral Resource estimate for Tasiast, please refer t th l d t d N b 3 2010 hi h i il bl b it t kito the news release dated November 3, 2010, which is available on our website at www.kinross.com.

8) Unless otherwise stated, gold equivalent production, gold equivalent ounces sold and cost of sales figures in this presentation are based on Kinross’ share of Kupol production (75%) and Chirano production (90%).

9) For details regarding the reconciliation of the cost of sales forecast for the West African assets, please refer to the section titled “Red Back Cost of Sales Reconciliation” in our news release dated November 3, 2010, available on our website at www.kinross.com.

10) For historical mineral resource estimates relating to the Tasiast property, please refer to Red Back’s public filings, available under Red Back’s profile on

40

10) For historical mineral resource estimates relating to the Tasiast property, please refer to Red Back s public filings, available under Red Back s profile on SEDAR.

Appendix

41

Fort Knox, USA (100%), ( )

• Located in Alaska

• Expansion and new heap leach to extend mine life

• Material being stacked on new pads

Operating Results

Production (Au eq. oz)

Cost of Sales($/oz)

YTD Q3 2010 264 590 $550YTD Q3 2010 264,590 $550

YTD Q3 2009 176,646 $596

2009 Gold Reserves and Resources(2)

Tonnes Grade OuncesTonnes(thousands)

Grade (g/t)

Ounces(thousands)

2P Reserves 252,945 0.45 3,692

M&I Resources 105,768 0.50 1,694


Round Mountain, USA (50%), ( )

• Kinross‐operated JV with Barrick

• Located in Nevada, USA

• Open pit mine

Operating Results


Cost of Sales($/oz)

YTD Q3 2010 141 033 $614YTD Q3 2010 141,033 $614

YTD Q3 2009 160,873 $527


Tonnes Grade oz (thousands) (g/t) (thousands)

2P Reserves 71,493 0.64 1,468

M&I Resources 39,837 0.73 938


Kettle River, USA (100%), ( )

• Entered production in Q4’08

• Small foot‐print, underground mine

• Near‐mine exploration targets

Operating Results


Cost of Sales($/oz)

YTD Q3 2010 145 555 $318YTD Q3 2010 145,555 $318

YTD Q3 2009 111,192 $308


Tonnes Grade ozTonnes(thousands)

Grade (g/t)

oz (thousands)

2P Reserves 1,701 13.88 759

M&I Resources ‐ ‐ ‐


Kupol, Russia (75%)p , ( )

• 3,000 tpd mill with open‐pit and underground

• 2009 first full year of production

Operating Results

P d i C f S lProduction (Au eq. oz)

Cost of Sales($/oz)

YTD Q3 2010 404,504 $318

YTD Q3 2009 529,421 $255

2009 Reserves and Resources(2)

Tonnes(thousands)

Grade (g/t)

Ounces(thousands)

2P Reserves: AuAg

6,11813.04167.8

2,56533,010

M&I Resources: AuAg

1715.48269.2

9149


Paracatu, Brazil (100%)

• Recoveries near target

Operating Results

• Major expansion commissioning

• Adding 3rd and 4th ball mills

Operating Results


Cost of Sales($/oz)

YTD Q3 2010 364,830 $528

YTD Q3 2009 245,975 $711


Tonnes Grade Ounces (thousands) (g/t) (thousands)

2P Reserves 1,320,886 0.41 17,472

M&I Resources 225,581 0.41 2,994


Crixas, Brazil (50%), ( )

• JV with AngloGold Ashanti

• Underground mine located in the Brazil

Operating Results


Cost of Sales($/oz)

YTD Q3 2010 56,798 $477

YTD Q3 2009 52 624 $430YTD Q3 2009 52,624 $430

Reserves and Resources(2)

Tonnes Grade Ounces (thousands) (g/t) (thousands)

2P Reserves 2,923 3.70 347

M&I Resources 303 3.40 33


La Coipa, Chile (100%)p , ( )

• Gold/silver mine in the Maricunga district

• Comprehensive exploration program

Operating Results

Production Cost of SalesProduction (Au eq. oz)

Cost of Sales($/oz)

YTD Q3 2010 136,310 $666

YTD Q3 2009 174,384 $409

2009 Reserves and Resources(2)

Tonnes(thousands)

Grade (g/t)

Ounces(thousands)

2P Reserves: Au 1 30 1 1072P Reserves: AuAg

26,5681.3044.4

1,10737,944

M&I Resources: AuAg

11,2290.8838.5

31713,901


Maricunga, Chile (100%)g , ( )

• Located the highly prospective Maricunga District

• Open pit, heap leach operation

Operating ResultsOperating Results


Cost of Sales($/oz)

YTD Q3 2010 123,611 $682

YTD Q3 2009 173,692 $525


Tonnes Grade Ounces(thousands) (g/t) (thousands)

2P Reserves 280,792 0.71 6,403

M&I Resources 160,049 0.57 2,945


Tasiast, Mauritania (100%)

• Open-pit mine located in Mauritania, ~300 km north of the capital city of Nouakchottthe capital city of Nouakchott

• Situated in remote, flat, sparsely populated desert

• Commercial production commenced in January 2008

• 2.5 Mtpa CIL mill and 4.5 Mtpa dump leach operation

• 2010e production(1): ~185-195k oz• Road access to mine and small air strip on site

• Highly prospective, underexplored gold belt

• Only 8 km of 70 km strike length testedTonnes(000)

Grade(g/t)

Cont’d Au (mm oz )• Only 8 km of 70 km strike length tested

• 156,784 m of drilling completed (as of Q3’10)

(000) (g/t) (mm oz.)

2P Mineral Reserves(2) 115,200 1.4 5.03

M&I Mineral Resources(7) 196,400 1.47 9.27

Inferred Mineral Resources(7) 105,600 1.5 5.15

M&I Mi l R t t d i l i f i l

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M&I Mineral Resources are stated inclusive of mineral reserves.

(1) Please refer to endnote #1.(5) Please refer to endnote #5.(7) Please refer to endnote #7.

Chirano, Ghana (90%)

• Open‐pit and underground mining operation

• 90% owned by Red Back; Government of Ghana holds a 10% carried interest

• 9 open‐pits and 2 recently‐discovered d d d itunderground deposits

• 2010e production of ~215‐225 k oz(1)

• Current estimated mine life of 10+ years

Gold Reserves and Resources(2)

Tonnes(thousands)

Grade (g/t)

Contained Au (mm oz)

2P Reserves 41,300 2.4 3.19

M&I Resources 46,600 2.71 4.07

Inferred Resources 9,600 2.7 0.8


M&I Mineral Resources are stated inclusive of mineral reserves.

Kinross Gold Corporation

25 York Street, 17th Floor

Toronto, ON M5J 2V5

Tel: 416 365 5123Tel: 416‐365‐5123

Toll‐Free: 1‐866‐561‐3636

www.kinross.com

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