Kinross Reports 2010 First Quarter Results 

TORONTO - Kinross Gold Corporation reported results for the first quarter ended. Production in the first quarter 2010 was 544,134 gold equivalent ounces, an increase of 3% over the same period last year. Consistent with previously stated guidance, the Company remains on track to produce approximately 2.2 million attributable gold equivalent ounces in 2010.

Revenue for the quarter was $657.6 million, compared with $532.7 million in the first quarter of 2009, an increase of 23%. The average realized gold price for the quarter was $1,065 per ounce sold, compared with $897 per ounce sold in Q1 2009, an increase of 19%. Tye Burt, President and CEO, said, "Kinross had a strong first quarter, with significant year-over-year increases in revenue, margins and adjusted net earnings. We are pleased with the progress being made at our Paracatu expansion plant, as its performance to date in 2010 continues to exceed plan. We continue to advance our organic growth projects at existing operations while making good progress at the major development projects. At  Fruta del Norte in Ecuador, we have completed an 18,000 metre drilling program ahead of schedule, while at Lobo-Marte, we are advancing our drilling program and permitting activities. We were successful in our offer to acquire control of Underworld Resources in Canada's Yukon Territory, adding a major new project in a mining-friendly jurisdiction to our pipeline. With the announcement of the acquisition of Dvoinoye and sale of one-half of our interest in Cerro Casale in the first quarter, we continue to optimize our portfolio while adding significant new growth potential for the near, medium and longer-term. The company's address is 25 York Street, 17th FloorToronto, ON M5J 2V5, 416-365-5123, fax: 416-363-6622.