La Coipa Mine

Kinross reported that Q2 2009 results at the La Coipa mine in Chile, tonnes of ore mined were higher compared with the same quarter last year when mining was impacted by a pit wall failure. Gold grades were higher than the prior year quarter as stockpiled ore, which was used to feed the mill in 2008, contained lower grades. As a result, gold equivalent ounces produced and metal sales increased year-overyear. Gold equivalent ounces sold were higher than production due to timing of shipments. On August 1, unionized workers at La Coipa voted to accept a new three-year collective agreement, ending a strike that began on July 8. The strike reduced La Coipa’s forecast production for July by approximately 9,400 gold equivalent ounces.

Kinross Gold announced that unionized employees have initiated strike action at the La Coipa mine following unsuccessful collective agreement negotiations. The strike affects production of approximately 300 gold equivalent ounces per day from the La Coipa operation.

During the quarter ended Mar31/09, at the La Coipa mine, tonnes of ore mined and gold grades were higher in the first quarter of 2009 compared with 2008. Gold equivalent ounces produced were higher as a result of higher throughput and higher grades, but ounces sold were lower compared with prior year due to the timing of shipments. Cost of sales decreased primarily due to the 2008 impact of the fair value of the cost of inventory acquired in the asset swap with Goldcorp, and the benefit of a weaker Chilean peso.