Slide 1: Kinross Gold Corporation 2016 Nevada Mine Tour
June 29-30 KINROSS GOLD CORPORATION 2016 Nevada Mine Tour 1 kinross.com
Slide 2: Cautionary Statement on Forward-Looking Information
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 and responses to questions, including but not limited to any information as to the future performance of Kinros
Slide 3: Bald Mountain Mine
June 29 BALD MOUNTAIN MINE 2016 Quality producing mine with significant upside potential 3 kinross.com
Slide 4: Bald Mountain Highlights
BALD MOUNTAIN HIGHLIGHTS EXCELLENT FIT WITH PORTFOLIO U.S. Operations Nevada Portfolio • Open-pit heap leach mine in Nevada Rabbit Creek Carlin Trend • Stronger production and lower costs expected Trend in 2017 and 2018 Fort Knox Battle Mtn. Trend SIGNIFICANT UPSIDE POTENTIAL • Large estimated miner
Slide 5: Site Overview
Aerial view of the Top pit SITE OVERVIEW 5 kinross.com
Slide 6: Significant Land Package
BALD MOUNTAIN SIGNIFICANT LAND PACKAGE Bald Mountain among the largest mine sites in the United States • Over 600 km2 land package Approximately 10x larger than Manhattan (59 km2) 100% Roughly the same size as the city of Toronto Kinross (630 km2) • Approximately 60% of the land package is 100%
Slide 7: Site Overview
BALD MOUNTAIN SITE OVERVIEW NORTH AREA Reserve Resource • Current mining operations at Top pit Duke Expect to begin stripping Redbird Winrock upon receipt of permit Poker Flats LBM • All current estimated proven and Numbers Saga probable mineral reserves located in the Red Bird North Area: Top, Re
Slide 8: Mineral Reserves & Mineral Resources
BALD MOUNTAIN MINERAL RESERVES & MINERAL RESOURCES(1) GOLD RESERVE AND RESOURCE ESTIMATES As at December 31, 2015 TONNES GRADE OUNCES (thousands) (g/t) (thousands) Proven and Probable 54,627 0.6 1,117 Reserves Measured & Indicated 188,971 0.6 3,933 Resources Inferred Resources 24,396 0.5 378 (1) Ref
Slide 9: Current Mining Operations
BALD MOUNTAIN CURRENT MINING OPERATIONS • Over 500 employees • Run-of-mine heap leach operation • Kinross’ life of mine plan currently includes 10 open-pits (4 of which are currently in reserve) • Average mining rate: 250-275k tonnes per day (ore and waste) • LOM strip ratio: 2.8 (waste:ore) PRIMARY
Slide 10: Processing - Overview
BALD MOUNTAIN PROCESSING - OVERVIEW • All pads are run-of-mine heap leach pads Permitted In Use with ROD • Three carbon-in-column circuits located in the North Area: Process 2 (built mid-1980s) Process 2 Poker Heap CIC Mooney North (built 1999) LBM Heap Mooney Mooney South (built 2012) North a
Slide 11: Well-Capitalized Operation
BALD MOUNTAIN WELL-CAPITALIZED OPERATION Prior capital investments positions mine to be a low-cost producer • Significant capital of approximately $385 million invested over the past 5 years New mobile equipment (electric shovels, haul trucks and other heavy equipment) Capitalized stripping and
Slide 12: Near-Term Production Outlook
BALD MOUNTAIN NEAR-TERM PRODUCTION OUTLOOK Strong cash flow potential in 2017 and 2018 2016 IS A TRANSITION YEAR • Ongoing stripping of the Top orebody • Expect lower production and higher costs than originally anticipated, due to short-term impacts: Higher than anticipated amount of stripping in
Slide 13: Continuous Improvement Opportunities
BALD MOUNTAIN CONTINUOUS IMPROVEMENT OPPORTUNITIES Implementing a CI program at Bald, with a number of opportunities already identified CI OPPORTUNITY EXAMPLE #1 CI OPPORTUNITY EXAMPLE #2 Applying Process Solution Management Optimize shift change to increase principles to Bald Mountain heaps product
Slide 14: Significant Upside Potential
Aerial view of Redbird SIGNIFICANT UPSIDE POTENTIAL 14 kinross.com
Slide 15: Multiple Sources of Upside
BALD MOUNTAIN MULTIPLE SOURCES OF UPSIDE NEAR TERM LONGER TERM EXPLORATION UPSIDE Opportunities for Mineral Potential for Mineral Reserve Conversion Reserve Conversion Two near-term Potential for significant Vast land-package, extensions, with the portion of remaining historically under- potential t
Slide 16: Proven & Probable Reserves of 1.1Moz.
NEAR-TERM OPPORTUNITIES PROVEN & PROBABLE RESERVES OF 1.1Moz. 2016 to 2018 Mine Plan Current Mineral Reserve Estimates(1): 1.1Moz. Poker • 100% of proven and probable mineral reserve estimate located Winrock in the North Area Top • Stronger production and costs expected in 2017 & 2018 after strippin
Slide 17: Vantage Complex
NEAR-TERM OPPORTUNITIES VANTAGE COMPLEX 2016 to 2018 Potential Vantage Mine Plan Current Mineral Reserve Complex Mineral Estimates(1): Reserve Conversion(2): 1.1Moz. 0.5 to 0.7Moz. • 600koz. of estimated measured and indicated mineral resource and 126koz. of estimated inferred mineral resource locat
Slide 18: Targeting Vantage Conversion in Q1 2017
NEAR-TERM OPPORTUNITIES TARGETING VANTAGE CONVERSION IN Q1 2017 Vantage Complex is a previously mined and Modest infill drilling planned to establish full 125ft drilled deposit spacing for indicated mineral resource estimation Alligator Ridge Vantage Pit, Vantage Pit, plan view looking East 125ft cy
Slide 19: Vantage Complex: Economics
NEAR-TERM OPPORTUNITIES VANTAGE COMPLEX: ECONOMICS Vantage Complex Pre-Feasibility Study Prudent Assessment of the Orebody Underway • Removed 150+ holes that don’t meet Kinross • Incorporate updated drilling information into standards mine plan and economics • Assume carbon is 100% waste and can be
Slide 20: Saga & Duke
NEAR-TERM OPPORTUNITIES SAGA & DUKE 2016 to 2018 Potential Saga Potential Vantage Mine Plan Current Mineral Reserve and Duke Mineral Complex Mineral Estimates(1): Reserve Reserve Conversion(2): 1.1Moz. Conversion(2): 0.5 to 0.7Moz. 0.5 to 0.6Moz. Duke • Potential to extend mine life - Saga and Duke
Slide 21: Saga Mineral Resource Delineation
NEAR-TERM OPPORTUNITIES SAGA MINERAL RESOURCE DELINEATION Potential to convert to 2P mineral reserves with year-end 2016 reserve & resource update(2) Saga Cross Section 20600 N ATTRACTIVE DEPOSIT • ~470koz. of estimated measured and indicated mineral resource(1) • Within current permitted area • Min
Slide 22: EIS Permit Update
NEAR-TERM OPPORTUNITIES EIS PERMIT UPDATE EIS permitting process is proceeding as planned and is nearly complete • EIS covers current expanded mine Covered by the EIS plan, additional under-explored pits and provides significant flexibility for • Vantage Pits included in current future growth Curren
Slide 23: Multiple Sources of Upside
BALD MOUNTAIN MULTIPLE SOURCES OF UPSIDE NEAR TERM LONGER TERM EXPLORATION UPSIDE Opportunities for Mineral Potential for Mineral Reserve Conversion Reserve Conversion Two near-term Potential for significant Vast land-package, extensions, with the portion of remaining historically under- potential t
Slide 24: Mineral Resource Sensitivity - Conceptual
LONGER-TERM OPPORTUNITIES MINERAL RESOURCE SENSITIVITY - CONCEPTUAL To characterize the remaining mineral resource estimate, we ‘turn on’ the other ounces STEP 1: ‘TURN ON’ INFERRED AND STEP 2: “CATEGORY 4” IN DESIGN PIT LET MINE PLAN ‘SEE’ INFERRED + “CATEGORY 4” Design pit: Inferred and “Category
Slide 25: Mineral Resource Sensitivity - Conceptual
LONGER-TERM OPPORTUNITIES MINERAL RESOURCE SENSITIVITY - CONCEPTUAL Demonstrates a mineral resource estimate that is highly sensitive to infill drilling RESULTS HIGHLIGHT UNIQUE OPPORTUNITY RESULTS • Demonstrates that Bald’s mineral resource estimate is highly sensitive to infill drilling and at cur
Slide 26: Example: Top Pit Resource Sensitivity
LONGER-TERM OPPORTUNITIES EXAMPLE: TOP PIT RESOURCE SENSITIVITY Top TOP: LARGEST CURRENT RESOURCE Pits Plan • Top contains over 1Moz. additional measured View and indicated mineral resource(1) beyond what is included in the current LOM plan • Current resource model does not contain results of drilli
Slide 27: Multiple Sources of Upside
BALD MOUNTAIN MULTIPLE SOURCES OF UPSIDE NEAR TERM LONGER TERM EXPLORATION UPSIDE Opportunities for Mineral Potential for Mineral Reserve Conversion Reserve Conversion Two near-term Potential for significant Vast land-package, extensions, with the portion of remaining historically under- potential t
Slide 28: Bald Mountain Regional Setting
EXPLORATION UPSIDE BALD MOUNTAIN REGIONAL SETTING Located in a prolific gold mining district with a long history of exploration success NEVADA TREND Twin Creeks Turquoise Ridge • Nevada is one of the world’s best Goldstrike Long Carlin/Leeville Canyon mining jurisdictions Gold Quarry • Carlin Trend
Slide 29: Kinross' Approach to Exploration
EXPLORATION UPSIDE KINROSS’ APPROACH TO EXPLORATION Kinross is taking a renewed approach to Bald Mountain’s significant exploration potential INVESTING IN COMPREHENSIVE DIFFERENT VIEW OF THE OREBODY DRILLING PROGRAMS • Kinross to focus exploration on non- • Historically underfunded and under- tradit
Slide 30: Potential for Pit Extensions
EXPLORATION UPSIDE POTENTIAL FOR PIT EXTENSIONS Several known deposits open in multiple directions Legend: Ore body open towards…. Top Vantage NORTH EAST SOUTH WEST AT DEPTH Yankee Redbird Winrock 30 kinross.com
Slide 31: Potential for Pit Extensions
EXPLORATION UPSIDE POTENTIAL FOR PIT EXTENSIONS Bald Mountain Geology Bald Mountain District Stratigraphy • Several stratigraphic units host ore, and remain under-explored 31 kinross.com
Slide 32: Redbird: Potential with Drilling at Depth
EXPLORATION UPSIDE REDBIRD: POTENTIAL WITH DRILLING AT DEPTH Some deposits have historically been under-explored and not drilled at depth ATTRACTIVE TARGET Redbird Pit • Stacked ore horizons Section 36500N looking North • +700koz. of oxide measured 2016 Mineral Resource Conversion Drill Holes: Green
Slide 33: Winrock: Opportunities East and Deep
EXPLORATION UPSIDE WINROCK: OPPORTUNITIES EAST AND DEEP Some deposits have historically been under-explored and not drilled at depth Winrock Pit ATTRACTIVE TARGET Looking NNE • Lower oxide zone open for expansion • Pilot Shale was previously largely ignored – hosts ore • Planned 2016 campaign to dri
Slide 34: Target-Rich Environment
EXPLORATION UPSIDE TARGET-RICH ENVIRONMENT Initial targeting and ranking illustrates deep pipeline of quality targets Top Saga Top Big Redbird Saga Vantage Complex Big Redbird Yankee Vantage Complex Yankee Resource Definition Lower Winrock Advanced Drill Testing Rattlesnake Yelland Ratboy Embayment
Slide 35: Target Areas and Exploration Pipeline
EXPLORATION UPSIDE TARGET AREAS AND EXPLORATION PIPELINE Bald Mountain Geology Pipeline of Exploration Targets • Identified more than 20 target areas believed to have high NT WP potential SM BM W • Majority are located on 100% Kinross-owned land R T G Rb E GS S M D RS Dv ST N Joint Venture Area VN B
Slide 36: New Target Delineation: Stock Margin
EXPLORATION UPSIDE NEW TARGET DELINEATION: STOCK MARGIN North Area • Located between two large deposits, Top & (Au-in-Soil Geochem) Numbers Complex Stock Margin Target Numbers • Little drilling has been conducted on the target to date Redbird Top • NE and NW structural intersection Galaxy LBM • Soil
Slide 37: Mineral Resource Delineation: Vantage
EXPLORATION UPSIDE MINERAL RESOURCE DELINEATION: VANTAGE • Highest grade deposit in district history: 4 g/t WORK PLANNED FOR 2016: • Favourable host rocks • Drilling proposed heap and waste locations (not previously done) • Over 500koz. of estimated measured and indicated resource(1), open to south
Slide 38: Drill Testing: Rattlesnake (JV Area)
EXPLORATION UPSIDE DRILL TESTING: RATTLESNAKE (JV AREA) North Area WHY WE THINK IT’S Au-Geochem ATTRACTIVE: • Under-explored host horizon (Guilmette) Winrock Redbird Top • SE portion of the Bida Trend • Part of large, 10 km long Rat surface geochemical anomaly Galaxy • Drilled 8 holes to date LBM
Slide 39: Future Growth Potential
BALD MOUNTAIN FUTURE GROWTH POTENTIAL Few constraints expected for Bald Mountain to potentially increase annual production Ample supply of water Ample Heap Leach Capacity Permitting environment • At peak, current mine plan • Significant heap leach • Nevada is a mining-friendly requires <50% of capac
Slide 40: Significant Future Potential
BALD MOUNTAIN SIGNIFICANT FUTURE POTENTIAL Bald Mountain has the potential to be a long-life mine in Kinross’ portfolio Multiple opportunities to add to proven and probable mineral reserve estimates and extend estimated mine life • Near-Term: potential to double current proven and probable mineral r
Slide 41: Operating Estimates
BALD MOUNTAIN OPERATING ESTIMATES 2016-2018 • Transition year in 2016 – production lower as high stripping year • Expecting higher production and lower costs in 2017 & 2018 Operating Estimates 2016 2017-2018 Rest of LOM Range Range Range Tonnes processed (Mt) per year ~12 ~19 10-13 Production (koz.
Slide 42: Quality Producing Mine with Significant Upside Potential
BALD MOUNTAIN QUALITY PRODUCING MINE WITH SIGNIFICANT UPSIDE POTENTIAL • Stronger production and lower costs expected in 2017 and 2018 • Near-term opportunities which could double mineral reserve estimates by end of Q1 2017 • Longer term opportunities for mine life extension • Excellent exploration
Slide 43: Appendix
Aerial view of Vantage Complex APPENDIX 43 www.kinross.com
Slide 44: North Area Map
BALD MOUNTAIN APPENDIX NORTH AREA MAP 44 www.kinross.com
Slide 45: South Area Map
BALD MOUNTAIN APPENDIX SOUTH AREA MAP 45 www.kinross.com
Slide 46: Endnotes
BALD MOUNTAIN APPENDIX ENDNOTES 1) For more information regarding Kinross’ 2015 mineral reserve and mineral resource estimates, please refer to our Annual Mineral Reserve and Mineral Resource Statement as at December 31, 2015 contained in our Annual Information Form filed March 30, 2016, which is av
Slide 47: Round Mountain Mine
June 30 ROUND MOUNTAIN MINE 2016 Strong cash flow generator with opportunities to extend mine life www.kinross.com
Slide 48: Round Mountain Highlights
QUALITY PRODUCING MINE IN NEVADA ROUND MOUNTAIN HIGHLIGHTS Strong cash flow generator with opportunities to extend mine life STRONG NEAR-TERM CASH FLOW CONTRIBUTOR • Currently mining the high-grade ‘heart’ of the orebody • Incremental, high-margin ounces from Process Solution Management (PSM) • Mill
Slide 49: Site Overview
Aerial view of Round Mountain SITE OVERVIEW 49 www.kinross.com
Slide 50: Site Overview
ROUND MOUNTAIN SITE OVERVIEW Strong near-term production with future potential located in one of world’s best mining jurisdictions U.S. Operations Nevada Portfolio • Commercial production began in 1977 Rabbit Creek Carlin Trend Produced over 14Moz. Trend Fort Knox Battle Mtn. • Kinross acquired a
Slide 51: Site Layout
Gold Hill Pit Potential Phase W Open Pit ADR Plant & Refinery Mill West Dedicated Heap Reuseable Heap Leach Pad (WDed) Leach Pad (RPad) Tailings South Dedicated Heap Leach Pad (SDed) SITE LAYOUT 51 www.kinross.com
Slide 52: Mineral Reserves & Mineral Resources
ROUND MOUNTAIN MINERAL RESERVES & MINERAL RESOURCES GOLD RESERVE AND RESOURCE ESTIMATES(3) As at December 31, 2015 TONNES GRADE OUNCES (thousands) (g/t) (thousands) Proven and Probable 66,145 0.7 1,470 Reserves Measured and Indicated 42,158 0.5 683 Resources Inferred Resources 16,205 0.4 233 INFERRE
Slide 53: Mining Operations
ROUND MOUNTAIN MINING OPERATIONS • 850+ employees • Site operates 24-hours a day, 7 days a week • Rotating 12 hour shifts Primary Mining Equipment • Loaders 2 P&H Shovels 2300XPA 1 CAT 6060 Shovel 1 Komatsu WA1200 2 CAT 992G / 2 CAT 993K • Haul Trucks 8 CAT-785 7 CAT-789 22 CAT-793 53
Slide 54: Processing - Overview
ROUND MOUNTAIN PROCESSING - OVERVIEW Round Mountain has 4 sources of production from 2 open-pits Estimated % of production from each process stream (2016-2019) DPad • Run-of-mine leaching for lower grade oxide 45% ~0.3 g/t (RM) ores Round Mountain • Reusable pad for leaching of higher grade, mine RP
Slide 55: Simplified Flow Sheet
Round Mountain Operations Mill Gravity con to refinery Loaded carbon Leach to treatment Sulfide ores to mill Tails SAG Gravity Flotation Gyratory Higher-grade oxide Crusher ores to Rpad Rpad Loaded carbon Cone Crushers to treatment Carbon Treatment RM Pit CIC & Refinery Rehandle to Dpad WDed CIC Low
Slide 56: Mill Represents ~15% of Production
ROUND MOUNTAIN MILL REPRESENTS ~15% OF PRODUCTION • Capacity: 12,000 t/d • Primarily used to treat sulfide ore • Unconventional mill - only a small portion of mill feed is treated with cyanide Majority of gold (~90%) recovered from carbon-in-pulp circuit Remainder of gold recovered with gravity
Slide 57: Heap Leach Operations
ROUND MOUNTAIN HEAP LEACH OPERATIONS • Crushed ore heap leaching - RPad Reusable Pad (RPad) 3-4 Mt of higher grade leach material placed per year Ore is crushed to less than ¾ inches, then leached for ~90 days on the RPad before being offloaded to a DPad Started in 1977 • Run-of-mine heap leac
Slide 58: Strong Near-Term Cash Flow Potential
View of heap leach pads STRONG NEAR-TERM CASH FLOW POTENTIAL 58 www.kinross.com
Slide 59: Operating Estimates
ROUND MOUNTAIN OPERATING ESTIMATES Continuous improvement programs benefiting production and costs, with additional future opportunities • With heavier stripping years now complete, Round Mountain is positioned for strong cash flow generation • Process Solution Management initiatives expected to add
Slide 60: Current Mine Life Estimates
ROUND MOUNTAIN CURRENT MINE LIFE ESTIMATES* Mining expected to continue until 2019, with mill & heap leach production to continue • MINING is expected to end in 2019 • MILLING is expected to continue until 2022, processing a ~10Mt stockpile with an average grade of 0.8 g/t after mining ends • LEACHI
Slide 61: Process Solution Management
ROUND MOUNTAIN PROCESS SOLUTION MANAGEMENT Expect ~900 million tonnes of ore to be stacked on heaps by 2019 - significant opportunities to optimize leaching OPPORTUNITY TO UNLOCK VALUE FROM THE HEAP LEACH PADS • Significant amount of ore stacked on the “Dedicated” pads since heap leaching commenced
Slide 62: Adding Incremental High-Margin Ounces
PROCESS SOLUTION MANAGEMENT ADDING INCREMENTAL HIGH-MARGIN OUNCES PSM expected to add 200 - 230koz. Au eq. over LOM at ~$200-$400/oz. (opex + capex) Ongoing, long-term continuous improvement initiative 2015 2016 2017+ Stage 1: Increasing ounces Stage 2: Increasing & bringing Stage 3 • Carbon column
Slide 63: Stage 1: CCO & Leach Way Forward
PROCESS SOLUTION MANAGEMENT STAGE 1: CCO & LEACH WAY FORWARD Carbon Column Optimization (CCO) Leach Way Forward • Installation of piping to direct solution to • Efficient leaching of entire pad, including carbon columns areas which were historically under-leached (e.g. side slopes) • Helps fully uti
Slide 64: Stage 1: New Liner & pH Enhancement
PROCESS SOLUTION MANAGEMENT STAGE 1: NEW LINER & pH ENHANCEMENT 7A New Liner pH Enhancement Side Slope Liner 7A • Reduces new ore placed on top of • Installed automated reagent controls existing 450’ heaps which buffer pH of SDed leach solution • Side slope liner enables isolation of high Two simi
Slide 65: Stage 1: Lean Piping & Flow Optimization
PROCESS SOLUTION MANAGEMENT STAGE 1: LEAN PIPING & FLOW OPTIMIZATION Lean Solution Piping Flow Optimization for 7A Pregnant to CIC Pond 14 Pond 13 Preg to CIC Flexible pH Pond 12 Pond 11 enhancement Currently some high grade solution recirculates to Pond 11 Legend: New lean line Lean to Barren to Le
Slide 66: Stage 2: Adding CIC Capacity
PROCESS SOLUTION MANAGEMENT STAGE 2: ADDING CIC CAPACITY Implementing CIC modifications to increase ounce recovery and bring ounces forward by reducing leach pad solution inventory South Dedicated CIC ADDITIONAL CIC CAPACITY In planning stage for 2017 implementation: • Expected to double CIC capacit
Slide 67: Stage 2: Optimizing ADR Plant
PROCESS SOLUTION MANAGEMENT STAGE 2: OPTIMIZING ADR PLANT Implementing CIC modifications to increase ounce recovery and bring ounces forward by reducing leach pad solution inventory Two Additional 2 Ton OPTIMIZATION OF THE ADR PLANT Strip Vessels Planning for 2017 implementation: • Increase carbon t
Slide 68: Stage 3: Future Opportunities
PROCESS SOLUTION MANAGEMENT STAGE 3: FUTURE OPPORTUNITIES Examining additional opportunities to extract additional ounces from the heaps DEDICATED PAD SOLUTION WELLS • Evaluating opportunities to increase recovery by adding barren solution through wells • Currently, recovery is impacted by: Areas
Slide 69: Best in Class
ROUND MOUNTAIN BEST IN CLASS Strong track record of results from world-class continuous improvement program In addition to PSM, continuous improvement throughout the operation has been an ongoing focus: • A.L.P.M. Shop – Assembly Line Preventative Maintenance Shop • Gold Hill blending strategy • Eff
Slide 70: Improved Mill Performance
ROUND MOUNTAIN IMPROVED MILL PERFORMANCE Strong track record of results from CI projects Mill Improvements Increased Mill Recovery 83% • “Gold spirals” design upgraded to reduce 78% wear and improve segregation • Automated reagent controls Ensures consistent froth Average Reduces reagent costs •
Slide 71: Improved Mining Cost per Tonne
ROUND MOUNTAIN IMPROVED MINING COST PER TONNE Strong track record of results from CI projects Mining cost per tonne moved Average tonnes loaded per 793 haul truck $2.20 239 $1.90 224 2015 Budget 2015 Actual 2015 Budget 2015 Actual • Improved truck fill factor • Target increased to 260 tons • Reduced
Slide 72: Potential Mine Life Extension: Phase W
Round Mountain pit POTENTIAL MINE LIFE EXTENSION: PHASE W 72 www.kinross.com
Slide 73: Phase W - Overview
ROUND MOUNTAIN PHASE W - OVERVIEW Phase W is a opportunity to potentially extend estimated mine life • Phase W is a large zone of known mineralization at depth and to the west of the open-pit Geological extension of the same deposit that has been mined for past 38 years • Project is essentially an
Slide 74: Inferred Resource of 2.4Moz.
PHASE W INFERRED RESOURCE OF 2.4Moz.(1,2) Phase W adds an additional 2.4Moz. to inferred mineral resource estimates • Declaring an additional mineral resource of 2.4Moz. for Phase W Total tonnes: 98 Mt Average grade: 0.8 g/t • Mineral resource declaration a result of: Rebuild and reinterpretat
Slide 75: Phase 1 Scoping Study Results
PHASE W PHASE 1 SCOPING STUDY RESULTS • Focused on a 1.3Moz portion of the • Initial results of Phase 1 looks encouraging; new resource estimate (Phase 1)(1,2), more work required which could extend mine life Post-scoping optimization studies planned 51Mt with an average grade of for 2016 to exa
Slide 76: Geology Model Changes
PHASE W GEOLOGY MODEL CHANGES A new approach to understanding Phase W’s geology Geological interpretation • Refined existing lithologies, adding 3 Lithology Enables improved planning sub-units • Built structural trend model, Isolates high grade Structure including hardness/softness population (rheol
Slide 77: Next Steps
PHASE W NEXT STEPS Advancing with further infill drilling and optimization studies • In the second half of 2016, plan to complete an infill drilling campaign Goal of converting some of inferred mineral resource estimate to the indicated category for year-end 2016 • Post-scoping optimization studie
Slide 78: Round Mountain Highlights
QUALITY PRODUCING MINE IN NEVADA ROUND MOUNTAIN HIGHLIGHTS Strong cash flow generator with opportunities to extend mine life STRONG NEAR-TERM CASH FLOW CONTRIBUTOR • Currently mining the high-grade ‘heart’ of the orebody • Incremental, high-margin ounces from Process Solution Management (PSM) • Mill
Slide 79: Appendix
APPENDIX 79 www.kinross.com
Slide 80: Endnotes
ROUND MOUNTAIN APPENDIX ENDNOTES 1) Please refer to the news release dated June 29, 2016, which is available on our website at www.kinross.com. 2) Inferred mineral resource has been determine based on a scoping study completed in June 2016. A scoping study is preliminary in nature and is based on in
Slide 81: Glossary of Terms
ROUND MOUNTAIN APPENDIX GLOSSARY OF TERMS PSM • Overall umbrella term for various heap leach initiatives focused on increasing gold Process Solution recovery, reducing solution inventory and bringing ounces forward Management • Specialized heap leach pad on which crushed higher grade ore is leached
Slide 82: Kinross Gold Corporation
KINROSS GOLD CORPORATION 25 York Street, 17th Floor │Toronto, ON │ M5J 2V5 www.kinross.com www.kinross.com