Kinross Gold Corporation · TSX:K

Kinross Gold — Desjardins Securities Marketing Presentation (February 2005)

31 slides from Kinross Gold's conference presentation, Feb 16, 2005

  1. Slide 1: Kinross Gold Corporation Corporate Presentation

    Desjardins Securities February 16, 2005 Toronto dedicated to being world class Kinross Gold Corporation Corporate Presentation

  2. Slide 2: Forward Looking Statement

    Forward Looking Statement Certain statements set forth in this presentation constitute "forward looking 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 resul

  3. Slide 3: Kinross at a Glance

    Kinross at a Glance Key Facts Key Attributes • Senior gold producer, • Excellent spread of 2005 estimated gold geopolitical risk equivalent production of approx. 1.6 million ozs • Modern, low cost asset @ $250 to $255 per oz. base total cash cost • Exciting pipeline of • ~3,400 employees in 6 develo

  4. Slide 4: Our Global Producing Assets

    Kinross Gold Corporation our global producing assets Fort Knox (100%) Kubaka (98.1%) Alaska, USA (Open Pit) Magadan, Russia (Open Pit, U/G) Musselwhite (32%) Ontario, Canada (U/G) Porcupine (49%) Kettle River (100%) Ontario, Canada (Open Pit, U/G) Washington, USA (U/G) Round Mountain (50%) Nevada, U

  5. Slide 5: Kinross Goals

    Kinross Goals Ø Extend Mine Life Ø Be a Good Operator Ø Sustainable Growth and Development Ø Simplify the Company

  6. Slide 6: Growth and Development: Reserve Replacement – 2004E

    Growth and Development: Reserve Replacement – 2004E 20 4.3 19.4 18 Millions of ounces 16 2.6 14.1 (1.9) 12 8 4 0 31-Dec-03 Depletion Technical Acquisitions 31-Dec-04E ($325) Additions ($350) challenging opportunities require innovative strategies

  7. Slide 7: Reserve Growth (excluding production)

    Reserve Growth (excluding (excluding production) production) New 2P Reserves Added in 2004 Paracatu Refugio Fort Knox PJV Round Mtn La Coipa Increases Musselwhite Acquisitions Crixas 0 1000 2000 3000 4000 5000 6000 7000 Reserve Ounces (000's) challenging opportunities require innovative strategies

  8. Slide 8: Reserve and Resource History

    Reserve and Resource History 35 30 Ounces (millions) 25 20 15 10 5 0 2000 2001 2002 2003 2004 2005e Proven and Probable Measured and Indicated

  9. Slide 9: Be a Good Operator

    Be a Good Operator Production - Budget Production - Actual Total Cash Cost - Budget Total Cash Costs - Actual 600 250 500 200 000s gold equivalent ounces 400 150 US dollars 300 100 200 50 100 0 0 Q1 2003 Q2 2003 Q3 2003 Q4 2003 Q1 2004 Q2 2004 Q3 2004E Q4 2004E challenging opportunities require inno

  10. Slide 10: 2004 Production – Budget vs Actual

    000s ounces 0 100 200 300 400 Fort Knox Round Mountain Porcupine Kubaka Paracatu La Coipa Crixas Musselwhite 2004 Production – Budget vs Actual New Britannia Kettle River 2004 Actual 2004 Budget Lupin Refugio

  11. Slide 11: 2004 Production – Budget vs 2005 Budget

    000s ounces 0 100 200 300 400 Fort Knox Round Mountain Porcupine Kubaka Paracatu La Coipa Crixas 2004 Production – Budget vs Actual Musselwhite Kettle River 2004 Actual 2005 Budget Refugio

  12. Slide 12: Be a Good Operator – Total Cash Costs

    Be a Good Operator – Total Cash Costs How Kinross has improved relative to other producers over time? 400 350 Total Cash Costs 2000 Total Cash Costs 2004E 300 250 US dollars 200 150 100 50 0 Harmony Newmont Placer Anglo Agnico Eagle Cambior Glamis Meridian Kinross Goldcorp Barrick challenging opport

  13. Slide 13: Optimizing… Paracatu Expansion (100%)

    Paracatu Expansion (100%) (100%) Optimizing…

  14. Slide 14: Paracatu Acquisition

    Paracatu Acquisition Ø Purchased 51% of Paracatu from Rio Tinto for $260 million, transaction closed December 31, 2004 Ø Kinross is 100% owner and operator Ø Paracatu mine life greater than 20 years Ø Increases Kinross’ proven and probable gold reserves by 4.2 million oz. Ø Eliminates one joint vent

  15. Slide 15: Paracatu Expansion (100%)

    Paracatu Expansion (100%) (100%) Ø Increase milling capacity and improve efficiency resulting in: • Increased gold recoveries • Lower costs • Increased resources due to lower cutoff grade Ø Increase production to 250,000 oz/yr (100%) thru 2025 • Average yearly production in first 5 years of +300,000

  16. Slide 16: Paracatu Expansion: Addition of Grinding Capacity

    Paracatu Expansion (100%) (100%) ADDITION OF GRINDING CAPACITY 18 Mtpa Crushing Plant Existing Ball Mills P80 = 75 µm To Flotation and Cyanidation

  17. Slide 17: Paracatu Expansion: Addition of Grinding Capacity

    Paracatu Expansion (100%) (100%) ADDITION OF GRINDING CAPACITY In Pit Crusher Overland Conveyor 30 Mtpa Crushing 38 ft SAG Plant Existing Ball Mills P80 = 75 µm To Flotation and Cyanidation

  18. Slide 18: Paracatu Expansion: Staged Addition of Grinding Capacity

    Paracatu Expansion (100%) (100%) STAGED ADDITION OF GRINDING CAPACITY In Pit Crusher Overland Conveyor 50 Mtpa P80 = 1000 µm 2 New Ball Mills 38 ft SAG 24 x 34 ft 16 Mtpa P80 = 1000 µm P80 = 75 µm Existing Ball Mills New Flotation Plant P80 = 75 µm Upgraded Existing To Flotation and Cyanidation Hydr

  19. Slide 19: Paracatu Expansion: Advantages and Critical Issue

    Paracatu Expansion (100%) (100%) Advantages • No interference with ongoing production • Can be implemented in stages with no delays on current plan Critical Issue • Licensing for pumping extra supplemental water from nearby rivers

  20. Slide 20: Paracatu Expansion (100%)

    Paracatu Expansion (100%) (100%) 2007 2008 2009 2010 Total Ore Processed (ton 000) 22,272 28,516 30,046 30,046 Wi Blend (kWh/t) 6.30 8.44 7.23 8.19 Total Oper. Cost (US$/ton) 2.11 2.17 2.02 2.06 Total Oper. Cost (US$/oz.) 181 179 178 162 Total Gold Production (kg) 8,074 10,777 10,601 11,880 Total Go

  21. Slide 21: Paracatu Expansion (100%)

    Paracatu Expansion (100%) (100%) 2005 2006 2007 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Basic engineering Plant capacity study Define strategy for expanding Initial cost estimate / approval for major equipment Definite cost estimate / approval for balance of funds SAG mill acquisition and manufacture Main sub

  22. Slide 22: Fort Knox (100%)

    Fort Knox (100%) (100%)

  23. Slide 23: Fort Knox – 7,600E (looking west)

    Fort Knox – 7,600E (looking (looking west) west) 9,000E 10,000E 11,000E South North 2,000 ft. Ultimate FFC-04-727 Pit Current Pit $400 Pit Shell 0.038opt Au/120ft. 0.106opt Au/20ft. 0.031opt Au/10ft. 0. 048opt Au/10ft. 1,000 ft. Open 0.031opt Au/10ft. Granite Schist 0.291opt Au/15ft. Mineralized zon

  24. Slide 24: Round Mountain (50%)

    Round Mountain (50%) (50%) Nice Photo of Round Mountain?

  25. Slide 25: Round Mountain (50%)

    Round Mountain (50%) (50%) Finger Dump Fairview South Pad Ramp

  26. Slide 26: Gold Production Estimate Base and Bridge

    Round Mountain (50%) (50%) Gold Production Estimate 800 Base and Bridge 700 Bridge 600 GH RM +Offloads 500 Ounces (000) 400 300 200 100 - 2005 2006 2007 2008 2009 2010 2011 2012

  27. Slide 27: Round Mountain (50%)

    Round Mountain (50%) (50%) 2004 Work 110,000 E Phase 1 Expansion Drill 1000’ Program § 183 holes completed § 39,000m (127,000ft) drilled §Dec 31, 2004 Resources US$400/oz US450/oz M&I 0.58m oz 1.00m oz Inferred 0.54m oz 0.91m oz Section 111,700N Total 1.12m oz 1.91m oz 2005 Plans Phase 2 Expansion D

  28. Slide 28: Gold Production Estimate Base and Bridge

    Round Mountain (50%) (50%) Gold Production Estimate 800 Base and Bridge UG RM EXP 700 Bridge GH 600 RM +Offloads Ounces (000) 500 400 300 200 100 - 2005 2006 2007 2008 2009 2010 2011 2012

  29. Slide 29: Gold Ounce Production

    Round Mountain (50%) (50%) Gold Ounce Production 800 Base Case 700 Expansion 600 Ounces (000) 500 400 300 200 100 - 2005 2006 2007 2008 2009 2010 2011 2012

  30. Slide 30: Summary

    Summary Ø Paracatu – excellent potential to increase reserves and production rates Ø Fort Knox – continuing to replace reserves Ø Round Mountain – Feasibility of pit layback and U/G extend life Ø Other opportunities – Crixas, La Coipa

  31. Slide 31: Dedicated to Being World Class

    dedicated to being world class Shares outstanding: 346.6 million Market cap.: US$2.9 billion KGC: NYSE K: TSX K.U: TSX (US dollar trading symbol) K.WT: TSX www.kinross.com Kinross Gold Corporation 40 King Street West, 52nd Floor Scotia Plaza Toronto, ON M5H 3Y2 416-365-5123 416-363-6622 866-561-3636

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