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Kinross Gold Corporation Kinross Gold Corporation Corporate Presentation September 2006 1 Certain statements set forth in this presentation constitute forward looking statements" within the meaning of the United States Private

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SLIDE 1

Kinross Gold Corporation

1

Kinross Gold Corporation Corporate Presentation

September 2006

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SLIDE 2

Certain statements set forth in this presentation constitute “forward looking statements" within the meaning of the United States Private Securities Litigation statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and other factors that may cause the actual results, performance or achievements to differ from those expressed or implied by such forward looking statements. Such risks and uncertainties are described in periodic filings made by Kinross Gold Corporation uncertainties are described in periodic filings made by Kinross Gold Corporation with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities.

2

All dollar amounts used throughout this presentation are expressed in US dollars, unless otherwise noted.

2

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SLIDE 3

Focus Areas

Fort Knox (100%) Musselwhite (32%) Porcupine JV (49%) Kettle River (100%) Round Mountain (50%) C i (50%) Refugio (50%) La Coipa (50%) Crixas (50%) Paracatu (100%)

3

Producing Assets Exploration Targets

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SLIDE 4

Kinross: A Major Gold Producer 2006 estimated:

G ld i l d i 1 44 illi

  • Gold equivalent production – 1.44 million ounces
  • Cost of sales1 – est. $305 – $315 per ounce

3 700 emplo ees in 5 co ntries ~3,700 employees in 5 countries Straight-forward balance sheet Straight forward balance sheet

  • Simple debt structure
  • No gold hedging

Continuing reserve growth

  • 24 7 million ounces at Dec 31/05 ($400/oz Au)

4

24.7 million ounces at Dec. 31/05 ($400/oz Au)

  • 1. Cost of sales is defined as operating costs divided by ounces sold.
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SLIDE 5

Prospective & Stable Geography

Geographical breakdown of 2005 reserves

64% 9% 17% 10%

US C d B il Chil US Canada Brazil Chile 24.7 million ounces of gold at Dec. 31, 2005, an increase of 27% over 2004

5

Reserves located in politically stable countries

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SLIDE 6

Secure Production Base

Geographical breakdown of 2005 production

48% 16% 17% 9% 10%

US Canada Brazil Chile Other US Canada Brazil Chile Other

64% of production is North American based 60% of costs are U.S. dollar-based

6

Large U.S. base offers security, lowers foreign exchange risk

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SLIDE 7

Four-Point Plan

Objective: Enhance net asset value and cash flow per share

Paracatu expansion

GROWTH FROM THE CORE

Regionally streamlined

BUILDING BLOCKS FOR THE FUTURE

Crown Resources

NEW OPPORTUNITIES

Strengthened management t & B d

BEST PEOPLE

Paracatu expansion Round Mountain layback / underground approach Implementing new systems closed Round Mountain underground team & Board Promote from within Kettle River / Buckhorn Continuous improvement program Excellence in environmental tt d t Pipeline for growth

  • pportunities

matters and corporate governance 7

7

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SLIDE 8

Core Fundamentals

Strong operating fundamentals Excellence in operations and corporate management New merger accounting methodology Cl f i t t t i l Clear four-point strategic plan Dramatic increase in gold reserves g Growth profile in production and cash flow through 2009

8

2009

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SLIDE 9

Continued Reserve Growth

Gold Reserves and Resources

35,000

Measured and Indicated

25,000 30,000

gold

Measured and Indicated Proven and Probable

15,000 20,000

00 ounces g

5,000 10,000

'00

Reserves at Dec. 31, 2004 19.4

  • 2001

$300/$325 2002 $300/$325 2003 $325/$350 2004 $350/$400 2005 $400/$450 Year

9

Less: Assets sold/reclassified (2.0) 2005 depletion (1.8) Add: New reserves in 2005 9.1 Reserves at Dec. 31, 2005 24.7

Year Gold price used for Reserves/Resources

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SLIDE 10

Second Quarter 2006

Revenue of $252.3 million; net earnings of $65.6 million ($0.19 per share) ($ p ) Gold equivalent production was 385,514 ounces (on-target for ’06 est. 1.44 mm gold equivalent ounces) g q ) Cost of sales1 of $311 per ounce on 403,507 gold equivalent

  • unces sold

Cash flow from operating activities of $94.9 million Cash position of $149.0 million; total debt of $163.2 million

10

10

  • 1. Cost of sales is defined as operating costs divided by ounces sold.
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SLIDE 11

Refining Portfolio

Non-core assets sold:

George/Goose Lake E-Crete

  • Norseman

Lupin (in process)

  • Lupin (in process)

Aquarius Blanket

  • Blanket

Katanga E it iti

  • 11

11

Equity positions

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SLIDE 12

Cash Margin – Senior Producers

200 250

Barrick

150 200 S$/ounce

a c New mont Kinross

50 100 U 2000 2001 2002 2003 2004 2005

Cash Margin Per Ounce Produced

2000 2001 2002 2003 2004 2005 CAGR Barrick 191 164 165 191 179 214 2% Newmont 111 87 124 163 181 182 10% Kinross 96 103 105 136 158 170 12%

g

12

Kinross 96 103 105 136 158 170 12%

Source: Company Reports

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SLIDE 13

Paracatu, Brazil (100%)

13

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SLIDE 14

Paracatu, Brazil

Ownership:

100% Kinross

Reserves:

15,210,000 gold ozs (as at Dec. 31, 2005)

Reserves:

15,210,000 gold ozs (as at Dec. 31, 2005)

Highlights:

$470 million expansion project approved, expansion will contribute 2008 and beyond

Q2 2006 Operating Results Q2 2006 Operating Results

Production: 44,465 gold eq. ozs Cost of sales: $ 335 / oz

YTD 2006 Operating Results

Production: 87,365 gold eq. ozs Cost of sales: $ 331 / oz

14

Cost of sales: $ 331 / oz

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SLIDE 15

Paracatu – A World-class Mine

35

s)

25 30

  • ns of ounces

10 15 20

eserves (millio

5 10

Re Laronde gunas Norte Cortez Veladero Paracatu Goldstrike Yanacocha

15

Lag

Largest Operating Mines in North and South America

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SLIDE 16

Paracatu Expansion Project

  • $470 million expansion project is expected to be completed in 2008

2009 - 2013 2009 - 2018 LOM 2009 - 2036 Average throughput (mtpa) 58.4 51.2 40.9 A d ( /t) 0 37 0 37 0 40 Average grade (g/t) 0.37 0.37 0.40 Average recovery (%) 80.3 80.0 79.6 Average annual gold production (oz) 556,700 489,800 418,100 Average mining costs ($/tonne) 0 47 0 50 0 69 Average mining costs ($/tonne) 0.47 0.50 0.69 Average milling costs ($/tonne) 1.50 1.67 1.96 Cost of sales ($/oz) 230 259 307

  • Average annual sustaining capital is expected to be approximately $15

million

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SLIDE 17

Brasilia Belt- Aeromagnetic Image

Paracatu Paracatu

Thrust

Formation Formation Vazante Vazante Formation Formation

Pit

  • utline

Thrust Front 2005 Drill NS mag anomaly 8 MAIN MAGNETIC TRENDS SELECTED ON THE BRASILIA BELT FOR FOLLOW UP Program UP SW-NE Mag Anomaly reflects i li i Ore Boundary

17

mineralization SPI image Depth of mag source

Total Magnetic Field image

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SLIDE 18

Round Mountain, USA (50%, operator)

18

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SLIDE 19

Round Mountain, USA

Ownership:

50% (Kinross operated)

Reserves:

2,338,000 gold ozs (as at Dec. 31, 2005)

Reserves:

2,338,000 gold ozs (as at Dec. 31, 2005)

Highlights:

  • Pre-stripping commenced for a pit layback, ore from layback

expected to contribute in late 2006

  • Exploration drilling to begin on underground in 2H/06

Q2 2006 Operating Results Q2 2006 Operating Results

Production: 88,469 gold eq. ozs Cost of sales: $ 270 / oz

YTD 2006 Operating Results

Production: 173,560 gold eq. ozs Cost of sales: $ 282 / oz

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Cost of sales: $ 282 / oz

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SLIDE 20

District/Exploration Map

Key 2006 Exploration Targets

  • Rd Mtn Underground

N

Round Mountain

Reno

Nevada

g

Drifting and drilling

  • Rd Mtn – Gold Hill Trend

Geophysical survey and drilling

Moores Creek Caldera Jefferson Las Vegas

  • Gold Hill

Engineering Optimization

Sh l Pit

ROUND ROUND MOUNTAI N MOUNTAI N GOLD HI LL GOLD HI LL

SVCO Area of Mutual Interest SVCO Area of Mutual Interest Jefferson Jefferson Trail Canyon Caldera Caldera Round Mtn Shale Pit Shale Pit

  • Shale Pit

Geophysical survey and drilling

  • Manhattan Mine

Drilling

S li b S li b Palo Alto Palo Alto Manhattan Manhattan Manhattan Caldera Round Mtn Caldera

Drilling

  • Salisbury

Drilling

Salisbury Salisbury Palo Alto Palo Alto 2006 Pl d D illi

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  • Palo Alto

Drilling

10 km

2006 Planned Drilling

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SLIDE 21

Refugio, Chile (50%, operator)

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SLIDE 22

Refugio, Chile

Ownership:

50% (Kinross operated)

Reserves:

2,158,000 gold ozs (as at Dec. 31, 2005)

Reserves:

2,158,000 gold ozs (as at Dec. 31, 2005)

Highlights:

Restart is complete, producing as planned Drilling commenced on nearby Pancho deposit

Q2 2006 Operating Results Q2 2006 Operating Results

Production: 26,711 gold eq. ozs Cost of sales: $ 379 / oz

YTD 2006 Operating Results

Production: 58,925 gold eq. ozs Cost of sales: $ 355 / oz

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Cost of sales: $ 355 / oz

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SLIDE 23

Exploration Map

Compania Minera Maricunga Claims 130 claims for 650 hectares Verde Volcanic and Intrusive Complex

Refugio Volcanics

Pancho Deposit

REFUGIO

Laguna Tuff

Volcanics (undivided)

Mesozoic Pancho Diorite & Volcanics

Leach Pad Process

Rocks

Chile

Buffer Zone Plant

2km

Verde West East & Mines

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2km Grade (g/t Au) / core length (metres) 1.02g/116m

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SLIDE 24

Capital Projects Drive New Growth

First Full Year Contributes

  • 1. Puren

First Full Year

2007

Contributes

Q3 2006

  • 2. Round Mtn. Layback

2007 Q4 2006

  • 3. Buckhorn

4 Paracatu Exp 2008 2009 Q2 2007 Q2 2008

  • 4. Paracatu Exp.

2009 Q2 2008

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SLIDE 25

Kinross Driving Forward

Production rising from approximately 1.44 million ounces to 1.8-1.9 million

  • unces in 2009

1 8 1.9

  • n

E xpe c te d range o f d ti

1.6 1.7 1.8

nt productio

  • f ounces)

pro duc tio n

1 3 1.4 1.5

  • ld equivalen

(millions o

1.2 1.3 2006E 2007E 2008E 2009E

Go

25

2006 - 2009 Forecast

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SLIDE 26

Four Exploration Focus Regions

Alaska, B.C., Nevada, Mexico Far NE Russia Chile Brazil

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Producing Assets Exploration Targets

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SLIDE 27

Positioned For Success

Fourth largest primary gold producer in North America, eighth largest in the world Strong production and growth profile through 2009 Eight mines globally focused in North and South Eight mines globally, focused in North and South America “Cleared decks” for the future Exploration expertise: track record of replacing reserves Operating in stable and prospective countries Operating in stable and prospective countries Strong, experienced management team focused on clear four-point strategic plan

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27

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SLIDE 28

Kinross Outperforms

2.50 2.00

  • rmance

+78%

1 00 1.50

elative Perfo

+31% + 8%

0.50 1.00

5 5 5 5 6 6 6 6 6 6 6 6 Re Sep-05 Oct-05 Nov-05 Dec-05 Jan-06 Feb-06 Mar-06 Apr-06 May-06 Jun-06 Jul-06 Aug-06 Major North American Gold Producers (Average) Kinross Gold Price

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Major North American Gold Producers include: Barrick and Newmont All shares prices are based on closing prices on the New York Stock Exchange

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SLIDE 29

Shares outstanding: 362 million Market cap.: US$4.6 billion (at September 11, 2006)

KGC: NYSE (Common shares) K: TSX (Common shares)

Kinross Gold Corporation

K: TSX (Common shares) K.U: TSX (US dollar trading symbol) K.WT: TSX (Warrants expiring 05/12/07)

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Kinross Gold Corporation

40 King Street West, 52nd Floor, Scotia Plaza, Toronto, ON M5H 3Y2 Tel: 416-365-5123 | Fax: 416-363-6622 | Toll Free: 866-561-3636 info@kinross.com

www.kinross.com

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SLIDE 30

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Appendix

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SLIDE 31

2005 Production Statistics

Reserves Cost of Reserves Cost of Ownership @ 12/31/05 sales/oz

(millions)

Fort Knox 100% 1,953 329,300 275 $ R d M t i 50% 2 338 373 900 255 $ Production Round Mountain 50% 2,338 373,900 255 $ La Coipa 50% 397 126,000 346 $ Crixas 50% 379 96,200 151 $ Paracatu 100% 15,210 181,000 281 $ Paracatu 100% 15,210 181,000 281 $ Musselw hite 32% 639 79,900 330 $ Porcupine Joint Venture 49% 1,653 184,000 282 $ Refugio 50% 2,158 30,600 314 $ $ Kettle River* 100% 14 68,100 270 $

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* Reserves at Kettle River are expected to be enhanced pending completion of Crown Resources acquisition and addition of reserves from the Buckhorn Mountain deposit.

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SLIDE 32

Musselwhite, Canada

(32%, Goldcorp operated)

32 32

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SLIDE 33

Musselwhite, Canada

Ownership:

32% Kinross

Reserves:

639 000 gold ozs (

t D 31 2005)

Reserves:

639,000 gold ozs (as at Dec. 31, 2005)

Q2 2006 Operating Results Q2 2006 Operating Results

Production: 17,631 gold eq. ozs Cost of sales: $ 367 / oz

YTD 2006 Operating Results

Production: 33,799 gold eq. ozs Cost of sales: $ 421 / oz

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Cost of sales: $ 421 / oz

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SLIDE 34

Fort Knox, USA (100%)

34 34

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SLIDE 35

Fort Knox, USA

Ownership:

100% Kinross

Reserves:

1 953 000 gold ozs (

t D 31 2005)

Reserves:

1,953,000 gold ozs (as at Dec. 31, 2005)

Highlights:

Heap leach scenario being evaluated

Q2 2006 Operating Results Q2 2006 Operating Results

Production: 99,437 gold eq. ozs Cost of sales: $ 267 / oz

YTD 2006 Operating Results

Production: 179,114 gold eq. ozs Cost of sales: $ 287 / oz

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Cost of sales: $ 287 / oz

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SLIDE 36

Porcupine JV, Canada

(49%, Goldcorp operated)

36

36

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SLIDE 37

Porcupine JV, Canada

Ownership:

49% Kinross

Reserves:

1,653,000 gold ozs (as at Dec. 31,

2005)

Highlights:

Pamour pit now contributing to production

Q2 2006 Operating Results Q2 2006 Operating Results

Production: 39,713 gold eq. ozs Cost of sales: $ 379 / oz

YTD 2006 Operating Results

Production: 69,845 gold eq. ozs Cost of sales: $ 398 / oz

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Cost of sales: $ 398 / oz

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SLIDE 38

La Coipa, Chile

(50%, Goldcorp operated)

38 38

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SLIDE 39

La Coipa, Chile

Ownership:

50% Kinross

Reserves:

397 000 gold ozs (

t D 31 2005)

Reserves:

397,000 gold ozs (as at Dec. 31, 2005) 24,389,000 silver ozs (as at Dec. 31, 2005)

Highlights:

Puren deposit pre-strip underway for contribution in Q3/06

Q2 2006 Operating Results Q2 2006 Operating Results

Production: 32,519 gold eq. ozs Cost of sales: $ 324 / oz

YTD 2006 Operating Results

Production: 71,146 gold eq. ozs Cost of sales: $ 301 / oz

39

Cost of sales: $ 301 / oz

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SLIDE 40

Crixas, Brazil

(50%, AngloGold operated)

40 40

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SLIDE 41

Crixas, Brazil

Ownership:

50% Kinross

Reserves:

379 000 gold ozs (

t D 31 2005)

Reserves:

379,000 gold ozs (as at Dec. 31, 2005)

Q2 2006 Operating Results Q2 2006 Operating Results

Production: 24,424 gold ozs Cost of sales: $ 202 / oz

YTD 2006 Operating Results

Production: 48,545 gold ozs Cost of sales: $ 195 / oz

41

Cost of sales: $ 195 / oz

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SLIDE 42

Kettle River, USA (100%)

42 42

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SLIDE 43

Kettle River, USA

Ownership: 100% Kinross Highlights: Buckhorn Mountain and Crown transaction:

  • Acquisition completed September 2006
  • Permitting is ongoing
  • Construction expected to begin in late 2006, production

expected late 2007 expected late 2007

2005 Operating Results

Production: 68 100 gold ozs Production: 68,100 gold ozs Cost of sales: $ 270 / oz There has been no production in 2006 as the

43

There has been no production in 2006 as the mill has been shutdown, awaiting construction

  • f the Buckhorn mine.
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SLIDE 44

Shares outstanding: 347.7 million Market cap.: US$4.6 billion (at September 11, 2006)

KGC: NYSE (Common shares) K: TSX (Common shares)

Kinross Gold Corporation

K: TSX (Common shares) K.U: TSX (US dollar trading symbol) K.WT: TSX (Warrants expiring 05/12/07)

44

Kinross Gold Corporation

40 King Street West, 52nd Floor, Scotia Plaza, Toronto, ON M5H 3Y2 Tel: 416-365-5123 | Fax: 416-363-6622 | Toll Free: 866-561-3636 info@kinross.com

www.kinross.com