Kinross Gold's Buckhorn Mine Is Now Operational

TORONTO- Kinross Gold's Buckhorn mine, located in Okanogan County,
Washington, is now operational, and trucks have begun to haul ore from the
mine site 26 miles to the refurbished Kettle River mill in Republic,
Washington, which has produced its first gold. Ore production at Buckhorn is
ramping up as mine development advances. The mill will continue to process
stockpiled ore from the former K2 mine through NOVEMBER, with bulk milling of
ore from the new Buckhorn mine EXPECTED TO BEGIN TOWARDS THE END OF THE MONTH.
 IN THE THIRD QUARTER, exploration drilling continued at Buckhorn (12 holes drilled for 4,115
meters) and the K2 mine (three holes for 1,470 meters). A second core drill
will be added in the fourth quarter to complete 2008 planned exploration at
Buckhorn. Soil geochemistry and an induced polarization (IP) geophysical
survey were carried out on the expanded claim block to identify new
Buckhorn-style skarn targets. Calc-silicate alteration intersected in Q2
drill holes in skarn units beneath the Buckhorn deposit returned weakly
anomalous gold. Further work is warranted to better understand the
significance of these results and to vector to gold mineralization within
these deep skarn lenses.
Projected production for 2008 is approximately 20,000-30,000 ounces, at an
expected average cost of sales per ounce of $365-385.
Kinross acquired the Buckhorn property in north-central Washington State
through the acquisition of Crown Resources in 2006.
Construction on the Fort Knox heap leach project in Alaska has been
concluded for the season and is scheduled to restart in the spring.
Construction is complete on approximately 78% of the leach pad area required
for initial ore placement and leaching. Construction on the carbon-in-column
plant will continue through the winter months and is expected to be
completed in the first quarter of 2009. Start-up of leaching operations is
scheduled to commence in the third quarter of 2009.
IN EXPLORATION AT FORT KNOX DURING THE THIRD QUARTER, the Phase 7 pit expansion program was completed. Total drilling on the
program was 88 holes for 29,447 meters. Three concept holes testing
mineralized
extensions in the south wall of the pit returned positive results. A 14-hole
follow-up
program was initiated at the end of the quarter. Results of drilling on the
Fort Knox
trend (5 holes, 806 meters) returned some anomalous to ore grade intercepts
that will
be followed up in 2009.
At Round Mountain in Nye County, Nevada, tonnes of ore mined during the
third quarter of2008 were higher than in the third quarter of 2007. Gold
equivalent ounces produced were lower than the prior year primarily due to
reduced performance of aging heap leach pads. Metal sales for the third
quarter were $55.5 million, an 11% increase over the same period last year,
more than offsetting lower gold equivalent ounces sold in the third quarter
of 2008. Cost of sales increased during the third quarter, primarily due to
increases in the cost of diesel fuel and other consumables.

Gold equivalent production1 FOR ALL OF KINROSS' OPERATIONS was 551,510 gold equivalent ounces in the third
quarter of 2008, an increase of 47% over the third quarter of 2007 and 36%
over the second quarter of 2008, representing a new quarterly record for
Kinross. Consistent with previously stated guidance, the Company remains on
track to produce approximately 1.8-1.9 million equivalent ounces in 2008.
Kinross is a Canadian-based gold mining company with mines in the United
States, Brazil, Russia and Chile, and employs approximately 5,000 people
worldwide. The Company's address is 42nd Floor,  Scotia Plaza, 40 King
Street West, Toronto, ON M5H 3Y2 Canada, (416) 365-5123, fax (416) 363-6622.