Kinross Gold Corporation

Kinross Gold Corporation
High River Gold Mines Ltd.

High River Gold Mines Ltd.

January 27, 2005 08:00 ET

Kinross Gold Corportion: New Britannia Mine To Be Placed On Care And Maintenance


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: KINROSS GOLD CORPORATION

TSX SYMBOL: K
NYSE SYMBOL: KGC

AND HIGH RIVER GOLD MINES LTD.

TSX SYMBOL: HRG

JANUARY 27, 2005 - 08:00 ET

Kinross Gold Corportion: New Britannia Mine To Be
Placed On Care And Maintenance

TORONTO, ONTARIO--(CCNMatthews - Jan. 27, 2005) - Kinross Gold
Corporation ("Kinross" or the "Company") (TSX:K)(NYSE:KGC) and High
River Gold Mines Ltd. ("High River") (TSX:HRG) announce that a decision
has been made by the joint venture to discontinue development at the New
Britannia mine. Exploration efforts were unable to define an extension
of the ore body containing better grade and thickness as was mined in
mid-2004. Mining of the ore body extension was to begin in the third
quarter of 2005. New Britannia suspended mining and milling operations
in September 2004, but was drilling the ore body extension with the hope
of further extending the mine life. The mine will now be placed on care
and maintenance and a small exploration plan may continue to potentially
justify mining in the area in the future.

The New Britannia mine in Manitoba, Canada commenced commercial
production in 1995 and has exceeded its original 8-year mine life.
Kinross acquired its 50% operating ownership in New Britannia through
the 2003 merger with TVX Gold Inc.

Kinross and High River would like to thank the employees at New
Britannia for their dedication and hard work.

This press release includes certain "Forward-Looking Statements" within
the meaning of section 21E of the United States Securities Exchange Act
of 1934, as amended. All statements, other than statements of historical
fact, included herein, including without limitation, statements
regarding potential mineralization and reserves, exploration results and
future plans and objectives of Kinross Gold Corporation, are
forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate
and actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from Kinross' expectations are
disclosed under the heading "Risk Factors" and elsewhere in Kinross'
documents filed from time to time with the Toronto Stock Exchange, the
United States Securities and Exchange Commission and other regulatory
authorities.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Kinross Gold Corporation
    Christopher T. Hill
    Vice President Investor Relations
    (416) 365-7254
    or
    Kinross Gold Corporation
    Tracey M. Thom
    Manager Investor Relations
    (416) 365-1362
    info@kinross.com