Kinross: Thy Rod and Thy Staff

How will Kinross revitalize its ore reserve position? According to president and CEO Bob Buchan, primarily by drilling near its mines and on its other properties to the tune of US$21 million in 2003, up from $12 million last year. The company’s vice-president of exploration, Ron Stewart, summarized the plans in an early April presentation to analysts and media.

With the current properties, the company should continue to replace mined reserves, and has great prospects for growth at some. Aggressive exploration campaigns are underway at the Porcupine JV, Musselwhite, New Britannia, Fort Knox, Kettle River, Round Mountain, Kubaka, LaCoipa and Crixas mines. As well, Kinross has 10 exploration and development projects.

Exploration and development at Kettle River are focused on the newly-discovered Emanuel Creek zone, to fast-track the deposit into production in early 2004 at grades more than double that of historic Kettle River production.

Improved gold prices stimulated a 56,000-m drill campaign, that is expected to substantially expand reserves at Verde and resources at Pancho and Guanaco, with an eye to reactivating the Refugio operation in 2004.

Details of the exploration programs are available at www.kinross.com.