Kinross Gold Corporation

Kinross Gold Corporation
Linear Gold Corp.

Linear Gold Corp.

October 22, 2007 18:42 ET

Linear Gold and Kinross Complete Definitive Agreement on Ixhuatan Project

TORONTO, ONTARIO--(Marketwire - Oct. 22, 2007) - Linear Gold Corp. (TSX:LRR) and Kinross Gold Corporation (TSX:K)(NYSE:KGC) are pleased to announce that they have executed a definitive option agreement with respect to exploration and potential future development of Linear's 98,000-hectare Ixhuatan Project, located in Chiapas, Mexico. The terms of the definitive option agreement are as outlined in the companies' joint press release of September 6, 2007.

Linear Gold Corp. has now completed strategic joint ventures in Mexico and the Dominican Republic that provide for the systematic exploration of the Ixhuatan Project and Linear's portfolio of properties in the Dominican Republic. With over $26,000,000 in cash and 27.8 million shares outstanding, Linear will pursue the acquisition of mineral assets with the potential to host large-scale deposits.

Kinross, a Canadian-based gold mining company, is the third-largest producer by reserves in North America. With nine mines in Canada, the United States, Brazil, Russia and Chile, Kinross employs more than 4,500 people.

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Kinross Gold Corporation
    Steve Mitchell
    Director Corporate Communications
    (416) 365-2726
    Linear Gold Corp.
    Brian MacEachen
    Vice-President and Chief Financial Officer
    (902) 489-5629