-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 UlvG/SBe6mPlYUaKi4Q9GFZQ4k01CY7Ohc+epOvPe4hQJ5nm52F8vEEVWgh/qeVr
 uMxh6ND5KXyYhdx9Pi1kMg==

<SEC-DOCUMENT>0000893838-02-000056.txt : 20020719
<SEC-HEADER>0000893838-02-000056.hdr.sgml : 20020719
<ACCEPTANCE-DATETIME>20020717165402
ACCESSION NUMBER:		0000893838-02-000056
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20020717
FILED AS OF DATE:		20020717

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KINROSS GOLD CORP
		CENTRAL INDEX KEY:			0000701818
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				650430083
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10321
		FILM NUMBER:		02704921

	BUSINESS ADDRESS:	
		STREET 1:		185 SOUTH STATE STREET
		STREET 2:		STE 400
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84111
		BUSINESS PHONE:		8013639152

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PLEXUS RESOURCES CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>kin6k071702.txt
<DESCRIPTION>FORM 6K
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                    FORM 6-K



                        REPORT OF FOREIGN PRIVATE ISSUER
                      PURSUANT TO RULE 13a-16 OR 15d-16 OF
                       THE SECURITIES EXCHANGE ACT OF 1934


                           For the month of July, 2002


                            KINROSS GOLD CORPORATION


                  52nd Floor, Scotia Plaza, 40 King Street West
                            Toronto, Ontario M5H 3Y2



Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F  |_|             Form 40-F  [x]

Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes |_| ___ No [x]


<PAGE>
                                                                         Page 2



                                      INDEX




  Exhibit Index                                                 Pages 3-5

  Signature Page                                                   Page 6


<PAGE>
                                                                          Page 3



         The following items previously filed in paper form with the Securities
and Exchange Commission are hereby filed in electronic format as exhibits to
this Report on Form 6-K of Kinross Gold Corporation (the "Corporation") for the
purpose of incorporation by reference in future filings.

                                    EXHIBITS
                                    --------
   Exhibit
    Number           Description
   -------           -----------

     99a             the audited consolidated financial statements of the
                     Corporation as at December 31, 2001 and 2000 and for the
                     years ended December 31, 2001, 2000 and 1999, together with
                     the auditors' report thereon and the notes thereto
                     (originally filed in paper form by the Corporation as part
                     of a Report on Form 6-K dated April 5, 2002 and filed on
                     April 8, 2002 (File No. 0-10321))

     99b             the management information circular and proxy materials of
                     the Corporation dated March 22, 2002 (originally filed in
                     paper form by the Corporation as part of a Report on Form
                     6-K dated April 5, 2002 and filed on April 8, 2002 (File
                     No. 0-10321))

     99c             the first quarter report containing the unaudited
                     consolidated financial statements of the Corporation as at
                     and for the three months ended March 31, 2002 and 2001
                     together with the notes thereto (originally filed in paper
                     form by the Corporation as part of a Report on Form 6-K
                     dated May 24, 2002 and filed on May 28, 2002 (File No.
                     0-10321))

     99d             interim management discussion and analysis of financial
                     condition and results of operations dated April 30, 2002
                     for the three months ended March 31, 2002 (originally filed
                     in paper form by the Corporation as part of a Report on
                     Form 6-K dated May 24, 2002 and filed on May 28, 2002 (File
                     No. 0-10321))

     99e             material change report dated January 22, 2002 relating to
                     the entering into of an agreement by the Corporation in
                     connection with the offering of 20,000,000 common shares
                     for gross proceeds of Cdn.$27 million (originally filed in
                     paper form by the Corporation as part of a Report on Form
                     6-K dated January 29, 2002 and filed on January 31, 2002
                     (File No. 0-10321))

     99f             material change report dated February 5, 2002 relating to
                     the consideration of a tender offer for the Kinam Preferred
                     Shares (as defined herein) and the write-down of the
                     Corporation's investment in the Blanket Mine in Zimbabwe
                     (originally filed in paper form by the Corporation as part
                     of a Report on Form 6-K dated February 6, 2002 and filed on
                     February 8, 2002 (File No. 0-10321))

<PAGE>
                                                                          Page 4


     99g             material change report dated February 12, 2002 relating to
                     the completion of the previously announced sale of
                     20,000,000 common shares and the exercise of an
                     underwriters' option to purchase an additional 3,000,000
                     common shares resulting in the aggregate sale of 23,000,000
                     common shares for gross proceeds of Cdn.$31.05 million
                     (originally filed in paper form by the Corporation as part
                     of a Report on Form 6-K dated February 20, 2002 and filed
                     on February 22, 2002 (File No. 0-10321))

     99h             material change report dated February 20, 2002 relating to
                     the financial results of the Corporation as at and for the
                     year ended December 31, 2001 and summary of reserves and
                     resources as at December 31, 2001 (originally filed in
                     paper form by the Corporation as part of a Report on Form
                     6-K dated February 20, 2002 and filed on February 22, 2002
                     (File No. 0-10321))

     99i             material change report dated April 5, 2002 relating to the
                     result of the cash tender offer for the $3.75 Series B
                     Convertible Preferred Shares (the "Kinam Preferred Shares")
                     of Kinam Gold Inc. ("Kinam") made by the Corporation's
                     wholly-owned subsidiary Kinross Gold U.S.A., Inc.
                     (originally filed in paper form by the Corporation as part
                     of a Report on Form 6-K dated April 5, 2002 and filed on
                     April 8, 2002 (File No. 0-10321))

     99j             material change report dated April 11, 2002 relating to the
                     signing of a letter agreement between the Corporation and a
                     wholly-owned subsidiary of Placer Dome Inc. to form a joint
                     venture that will combine the two companies' respective
                     gold mining operations in the Porcupine district in
                     Ontario, Canada (originally filed in paper form by the
                     Corporation as part of a Report on Form 6-K dated April 11,
                     2002 and filed on April 16, 2002 (File No. 0-10321))

     99k             material change report dated May 1, 2002 relating to the
                     first quarter report containing the unaudited consolidated
                     financial statements of the Corporation as at and for the
                     three months ended March 31, 2002 and 2001, together with
                     notes thereto and interim management's discussion and
                     analysis of financial condition and results of operations
                     for the three months ended March 31, 2002 (originally filed
                     in paper form by the Corporation as part of a Report on
                     Form 6-K dated May 3, 2002 and filed on May 6, 2002 (File
                     No. 0-10321))

     99l             material change report dated May 3, 2002 relating to the
                     Corporation's intention to deliver into its relatively
                     small gold forward sales and not replace such hedges
                     (originally filed in paper form by the Corporation as part
                     of a Report on Form 6-K dated May 3, 2002 and filed on May
                     6, 2002 (File No. 0-10321))

<PAGE>
                                                                          Page 5



     99m             material change report dated May 17, 2002 relating to the
                     arbitration ruling in favour of Compania Minera Maricunga
                     on claims against Fluor Daniel Chile Ingenieria y
                     Construccion S.A., Fluor Daniel Corporation and Fluor
                     Daniel Wright Ltd. (originally filed in paper form by the
                     Corporation as part of a Report on Form 6-K dated May 24,
                     2002 and filed on May 28, 2002 (File No. 0-10321))

     99n             material change report dated July 2, 2002 relating to the
                     entering into of an asset exchange agreement and a joint
                     venture agreement with Placer Dome Inc. (originally filed
                     in paper form by the Corporation as part of a Report on
                     Form 6-K dated July 9, 2002 (File No. 0-10321))



<PAGE>
                                                                          Page 6



                                    SIGNATURE




         Pursuant to the requirements of Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                         KINROSS GOLD CORPORATION







                                        Signed:   /s/ Shelley M. Riley
                                               --------------------------------
                                           Shelley M. Riley
                                           Corporate Secretary





July 17, 2002



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>kin6kex99a.txt
<DESCRIPTION>EXHIBIT 99A
<TEXT>
                                                                     EXHIBIT 99a


                       CONSOLIDATED FINANCIAL STATEMENTS

<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------
CONSOLIDATED BALANCE SHEETS
Kinross Gold Corporation
As at December 31,
(expressed in millions of U.S. dollars)
<S>                                                                           <C>       <C>
- -----------------------------------------------------------------------------------------------------
                                                                                   2001      2000
- -----------------------------------------------------------------------------------------------------
ASSETS
      Current assets
        Cash and cash equivalents                                               $  81.0   $  77.8
        Restricted cash                                                               -       2.9
        Accounts receivable (Note 3)                                               13.8      20.3
        Inventories (Note 4)                                                       42.4      54.6
        Marketable securities (quoted market value: 2001-$1.8; 2000-$0.7)           1.5       0.7
- -----------------------------------------------------------------------------------------------------
                                                                                  138.7     156.3
      Property, plant and equipment (Note 5)                                      415.0     505.6
      Long-term investments (Note 6)                                               12.9      14.4
      Deferred charges and other assets                                            11.0      23.7
- -----------------------------------------------------------------------------------------------------
                                                                                $ 577.6   $ 700.0
=====================================================================================================
LIABILITIES
         Current liabilities
                  Accounts payable and accrued liabilities                      $  31.0   $  40.8
                  Current portion of long-term debt (Note 9)                       33.1      31.5
                  Current portion of site restoration cost accruals (Note 10)      12.6       9.3
- -----------------------------------------------------------------------------------------------------
                                                                                   76.7      81.6

         Long-term debt (Note 9)                                                   31.0      79.8
         Site restoration cost accruals (Note 10)                                  43.0      47.9
         Future income and mining taxes (Note 16)                                   3.3       3.5
         Deferred revenue (Note 8 (a))                                              9.6      10.1
         Other long-term liabilities                                                6.0      10.1
         Debt component of convertible debentures (Note 11)                        28.1      33.4
         Redeemable retractable preferred shares (Note 12)                          3.1       3.1
- -----------------------------------------------------------------------------------------------------
                                                                                  200.8     269.5
- -----------------------------------------------------------------------------------------------------
CONVERTIBLE PREFERRED SHARES OF SUBSIDIARY COMPANY (NOTE 13)                       48.0      91.8
- -----------------------------------------------------------------------------------------------------
COMMON SHAREHOLDERS' EQUITY
         Common share capital (Note 14)                                           945.7     913.2
         Contributed surplus                                                       12.9      12.9
         Equity component of convertible debentures (Note 11)                     124.8     117.0
         Deficit                                                                 (726.0)   (681.4)
         Cumulative translation adjustments                                       (28.6)    (23.0)
- -----------------------------------------------------------------------------------------------------
                                                                                  328.8     338.7
- -----------------------------------------------------------------------------------------------------
                                                                                $ 577.6   $ 700.0
=====================================================================================================
</TABLE>

COMMITMENTS AND CONTINGENCIES (NOTE 21)

SIGNED ON BEHALF OF THE BOARD:

/s/ John A. Brough                      /s/ John M.H. Huxley
(signed)John A. Brough                  (signed)John M.H. Huxley
Director                                Director

<PAGE>

<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF OPERATIONS
Kinross Gold Corporation
For the years ended December 31,
(expressed in millions of U.S. dollars except per share amounts)
- ----------------------------------------------------------------------------------------------------------
<S>                                                                           <C>      <C>      <C>
                                                                                 2001     2000     1999
- ----------------------------------------------------------------------------------------------------------
REVENUE
         Mining revenue                                                         $270.1   $271.0   $304.0
         Interest and other income                                                 9.3     14.2     15.5
         Mark to market gain (loss) on call options                                3.5      4.1     (2.5)
- ----------------------------------------------------------------------------------------------------------
                                                                                 282.9    289.3    317.0
- ----------------------------------------------------------------------------------------------------------
EXPENSES
         Operating                                                               180.7    189.6    209.4
         General and administrative                                               10.1     10.4     11.2
         Exploration                                                               7.9     11.4     11.1
         Depreciation, depletion and amortization                                 85.8     93.2    110.9
- ----------------------------------------------------------------------------------------------------------
                                                                                 284.5    304.6    342.6
- ----------------------------------------------------------------------------------------------------------
LOSS BEFORE THE UNDERNOTED                                                        (1.6)   (15.3)   (25.6)
         Gain on sale of assets                                                    1.2      4.1      0.1
         Foreign exchange (loss) gain                                             (1.1)     0.5      0.2
         Share in loss of investee companies                                      (2.2)    (8.1)    (0.3)
         Interest expense on long-term liabilities                                (9.1)   (14.3)   (15.8)
         Write-down of marketable securities and long-term investments -         (13.1)    (4.6)
         Write-down of property, plant and equipment (Note 15)                   (16.1)   (72.1)   (184.9)
- ----------------------------------------------------------------------------------------------------------
LOSS BEFORE TAXES AND DIVIDENDS ON CONVERTIBLE
         PREFERRED SHARES OF SUBSIDIARY COMPANY                                  (28.9)  (118.3)  (230.9)

PROVISION FOR INCOME AND MINING TAXES (NOTE 16)                                   (2.9)    (0.9)    (2.9)
- ----------------------------------------------------------------------------------------------------------
LOSS FOR THE YEAR BEFORE DIVIDENDS ON CONVERTIBLE
         PREFERRED SHARES OF SUBSIDIARY COMPANY                                  (31.8)  (119.2)  (233.8)

DIVIDENDS ON CONVERTIBLE PREFERRED SHARES OF SUBSIDIARY COMPANY (NOTE 13)         (5.1)    (6.9)    (6.9)
- ----------------------------------------------------------------------------------------------------------
NET LOSS FOR THE YEAR                                                            (36.9)  (126.1)  (240.7)

INCREASE IN EQUITY COMPONENT OF CONVERTIBLE DEBENTURES (NOTE 11)                  (7.7)    (7.2)    (6.5)
- ----------------------------------------------------------------------------------------------------------
NET LOSS FOR THE YEAR ATTRIBUTABLE TO COMMON SHAREHOLDERS                       $(44.6) $(133.3) $(247.2)
==========================================================================================================
LOSS PER SHARE
Basic                                                                           $(0.14) $ (0.45)  $(0.83)
Diluted                                                                            n/a      n/a      n/a
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (MILLIONS)                  313.4    298.1    299.2
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF CASH FLOWS
Kinross Gold Corporation
For the years ended December 31,
(expressed in millions of U.S. dollars)
- --------------------------------------------------------------------------------------------------------------------

<S>                                                                                       <C>      <C>      <C>
                                                                                          2001     2000     1999
- --------------------------------------------------------------------------------------------------------------------
NET INFLOW (OUTFLOW) OF CASH RELATED TO THE FOLLOWING ACTIVITIES:
OPERATING:
         Loss for the year before dividends on convertible preferred shares
                  of subsidiary company                                                 $(31.8)  $(119.2) $(233.8)
         Items not affecting cash:
                  Depreciation, depletion and amortization                                85.8     93.2     110.9
                  Write-down of property, plant and equipment                             14.6     72.1     184.9
                  Write-down of marketable securities and long-term investments              -     13.1       4.6
                  Gain on sale of assets                                                  (1.2)    (4.1)     (0.1)
                  Future income and mining taxes                                             -     (3.5)        -
                  Deferred revenue realized                                              (17.7)   (13.5)     (6.9)
                  Site restoration cost accruals                                           1.9      2.6       3.1
                  Share in loss of investee companies                                      2.2      9.4       0.3
- --------------------------------------------------------------------------------------------------------------------
                                                                                          53.8     50.1      63.0
         Proceeds on restructuring of gold forward sales contracts                        21.6      4.7         -
         Site restoration cash expenditures                                               (7.1)    (9.6)    (6.3)
         Changes in non-cash working capital items
                  Accounts receivable                                                      5.1      5.7     10.1
                  Inventories                                                              9.6      0.6      3.3
                  Marketable securities                                                      -      4.8     (3.2)
                  Accounts payable and accrued liabilities                                (8.0)    (8.3)     0.4
         Effect of exchange rate changes on cash                                          (0.5)    (0.2)     2.2
- --------------------------------------------------------------------------------------------------------------------
CASH FLOW PROVIDED FROM OPERATING ACTIVITIES                                              74.5     47.8     69.5
====================================================================================================================
FINANCING:
         Issuance (repurchase) of common shares, net                                       5.4     (2.1)    (5.5)
         Reduction of debt component of convertible debentures                            (5.4)    (4.9)    (4.4)
         Repayment of debt                                                               (46.5)   (26.4)   (14.7)
         Dividends on convertible preferred shares of subsidiary company                     -     (3.4)    (6.9)
- --------------------------------------------------------------------------------------------------------------------
CASH FLOW USED IN FINANCING ACTIVITIES                                                   (46.5)   (36.8)   (31.5)
====================================================================================================================
INVESTING:
         Additions to property, plant and equipment                                      (30.4)   (41.6)   (44.0)
         Business acquisitions, net of cash acquired                                      (1.2)       -    (35.0)
         Long-term investments and other assets                                            2.1     (7.4)    (0.8)
         Proceeds from the sale of property, plant and equipment                           1.8      4.8      2.3
         Decrease (increase) in restricted cash                                            2.9     (2.9)       -
- --------------------------------------------------------------------------------------------------------------------
CASH FLOW USED IN INVESTING ACTIVITIES                                                   (24.8)   (47.1)   (77.5)
====================================================================================================================
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                                           3.2    (36.1)   (39.5)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR                                              77.8    113.9    153.4
- --------------------------------------------------------------------------------------------------------------------
CASH AND CASH EQUIVALENTS, END OF YEAR                                                  $ 81.0   $ 77.8   $113.9
====================================================================================================================
Cash and cash equivalents consist of the following:
         Cash on hand and balances with banks                                           $ 12.9   $ 20.0   $ 27.0
         Short-term investments                                                           68.1     57.8     86.9
- --------------------------------------------------------------------------------------------------------------------
                                                                                        $ 81.0   $ 77.8   $113.9
====================================================================================================================
Supplementary disclosure of cash flow information:
         Cash paid for: Interest                                                        $ 13.1   $ 18.8   $ 12.3
                        Income taxes                                                    $  3.9   $  2.3   $  3.0
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY Kinross Gold Corporation
For the years ended December 31,
(expressed in millions of U.S. dollars)
- -----------------------------------------------------------------------------------------------------------------------------------
                                                                               Equity
                                                  Common                  component of             Cumulative
                                                   share    Contributed    convertible            translation
                                                 capital        surplus     debentures    Deficit  adjustments       Total

<S>                                               <C>            <C>           <C>       <C>         <C>             <C>
BALANCE, DECEMBER 31, 1998                        $904.2         $3.6          $103.1    $(296.4)    $(27.9)         $686.6

Issuance of common shares, net                      16.1          4.3               -          -          -            20.4
Increase in equity component of convertible
         debentures                                    -            -             6.6       (6.5)         -             0.1
Net loss for the year                                  -            -               -     (240.7)         -          (240.7)
Cumulative translation adjustments                     -            -               -          -        9.2             9.2
- -----------------------------------------------------------------------------------------------------------------------------------

BALANCE, DECEMBER 31, 1999                         920.3          7.9           109.7     (543.6)     (18.7)          475.6

Adjustment for post-retirement benefits (Note 1)       -            -               -       (4.5)         -            (4.5)
- -----------------------------------------------------------------------------------------------------------------------------------

BALANCE, JANUARY 1, 2000                           920.3          7.9           109.7     (548.1)     (18.7)          471.1

Issuance (repurchase) of common shares,
         net                                        (7.1)         5.0               -          -          -            (2.1)
Increase in equity component of convertible
         debentures                                    -            -             7.3       (7.2)         -             0.1
Net loss for the year                                  -            -               -     (126.1)         -          (126.1)
Cumulative translation adjustments                     -            -               -          -       (4.3)           (4.3)
- -----------------------------------------------------------------------------------------------------------------------------------

BALANCE, DECEMBER 31, 2000                         913.2         12.9           117.0     (681.4)     (23.0)          338.7

Issuance of common shares, net                      32.5            -               -          -          -            32.5
Increase in equity component of convertible
         debentures                                    -            -             7.8       (7.7)         -             0.1
Net loss for the year                                  -            -               -      (36.9)         -           (36.9)
Cumulative translation adjustments                     -            -               -          -       (5.6)           (5.6)
- -----------------------------------------------------------------------------------------------------------------------------------

BALANCE, DECEMBER 31, 2001                        $945.7        $12.9          $124.8    $(726.0)    $(28.6)         $328.8
===================================================================================================================================
</TABLE>

<PAGE>



Kinross Gold Corporation
(All tabular dollar amounts are in millions of U.S. dollars except per share
data)

1.   Summary of Significant Accounting Policies

The consolidated financial statements of Kinross Gold Corporation (the
"Company") have been prepared in accordance with Canadian generally accepted
accounting principles which differ in certain material respects from those
generally accepted in the United States, as described in Note 20. The following
is a summary of the accounting policies significant to the Company. The U.S.
dollar is the principal currency of the Company's business; accordingly, these
consolidated financial statements are expressed in U.S. dollars.

Nature of operations. The Company is engaged in the mining and processing of
gold and silver ore and the exploration for, and acquisition of, gold-bearing
properties, principally in the Americas, Russia, Australia and Africa. The
Company's products are gold and silver produced in the form of dor which is
shipped to refineries for final processing.

Basis of presentation. The consolidated financial statements include the
accounts of the Company and the more-than-50%-owned subsidiaries that it
controls. The Company also includes its proportionate share of assets,
liabilities, revenues and expenses of jointly controlled companies and joint
ventures in which it has an interest. Effective December 31, 2001, the Company
discontinued the consolidation of it's wholly-owned subsidiary company in
Zimbabwe, which operates the Blanket mine. Extreme inflationary pressures within
Zimbabwe, civil unrest and currency export restrictions have prevented the
Company from exercising control over the Zimbabwean subsidiary (see Note 15).

Use of estimates. The preparation of the Company's consolidated financial
statements in conformity with Canadian generally accepted accounting principles
requires management to make estimates and assumptions that affect amounts
reported in the financial statements and accompanying notes. Management's
estimates are made in accordance with mining industry practice. Significant
areas requiring the use of management estimates relate to the determination of
mineral reserves, reclamation and environmental obligations, impairment of
assets and useful lives used to compute depreciation, depletion and
amortization. Actual results could differ from those estimates.

Translation of foreign currencies.
Domestic and foreign operations. The Company reports its financial statements in
U.S. dollars, while the currency of measurement for the Company's operations
varies depending upon location.

The currency of measurement for the Company's operations domiciled in Canada is
the Canadian dollar. Canadian dollar amounts are translated to U.S. dollars for
reporting purposes using the current rate method. Under the current rate method,
assets and liabilities are translated at the exchange rates in effect at the
balance sheet date and revenues and expenses are translated at average rates for
the year. With the exception of Australia, the Company's non-Canadian
subsidiaries and joint venture interests are self-sustaining operations whose
economic activities are largely independent of those of the Company. The
currency of measurement for the Company's self-sustaining operations in the
United States and Chile is the U.S. dollar. Although the operations in Zimbabwe
and Russia are self-sustaining, the temporal method is used to translate local
currency amounts into U.S. dollars due to the highly inflationary economies in
those countries. As mentioned above, the operations in Zimbabwe are no longer
consolidated as of December 31, 2001. The temporal method is also used to
translate the Company's operation in Australia which is considered to be an
integrated foreign operation. Under the temporal method, all non-monetary items
are translated at historical rates. Monetary assets and liabilities are
translated at actual exchange rates in effect at the balance sheet date,
revenues and expenses are translated at average rates for the year and gains and
losses on translation are included in income.

<PAGE>

The unrealized translation gains and losses on the Company's net investment in
self-sustaining operations translated using the current rate method accumulate
in a separate component of shareholders' equity, described in the consolidated
balance sheet as cumulative translation adjustments. Such exchange gains and
losses may become realized in the event of a disposition of the net investment
in a self-sustaining operation, in which event an appropriate portion of the
cumulative translation adjustment is recognized in income.

Foreign currency transactions. Monetary assets and liabilities are translated at
the rate of exchange prevailing at the balance sheet date. Non-monetary assets
and liabilities are translated at historical rates. Revenue and expenses are
translated at the average rate of exchange for the year. Exchange gains and
losses are included in income except for the unrealized gains or losses on
long-term debt (including the debt component of the convertible debentures)
which are deferred and amortized over the term of the debt (See Note 11).

Cash and cash equivalents. Cash and cash equivalents include cash and highly
liquid investments with an original maturity of three months or less. The
Company invests cash in term deposits maintained in high credit quality
financial institutions.

Marketable securities. Marketable securities are carried at the lower of cost
and quoted market value.

Inventories. Gold bullion and gold in process are valued at the lower of
production cost and net realizable value. Mine operating parts and supplies are
valued at the lower of cost and replacement cost.

Property, plant and equipment. Property, plant and equipment are recorded at
cost. Costs associated with exploration properties are deferred, on a project
basis, until the economic viability of the project is determined. Once
commercial production is reached, the deferred costs of the project are
amortized over their economic lives, on the basis described below.

Where the total reserves are not determinable because ore bearing structures are
open at depth or are open laterally, which is currently the case at the Hoyle
Pond mine (see Note 5), the straight-line method of amortization is applied over
the estimated life of the mine which is currently 10 years.

Where the mine operating plan calls for production from well-defined ore
reserves, the unit-of-production method of amortization is applied. Plant and
equipment that have useful lives shorter than the mine life are depreciated on a
straight-line or declining balance basis over their estimated useful lives of up
to five years.

Property evaluations. Annually, or more frequently as circumstances require, the
Company reviews and evaluates the recoverability of property, plant and
equipment. Estimated future net cash flows, on an undiscounted basis, from each
property are calculated using estimated recoverable ounces of gold (considering
current proven and probable reserves and mineral resources expected to be
converted into mineral reserves. The inclusion of mineral resources is based on
various circumstances, including but not limited to, the existence and nature of
known mineralization, location of the property, results of recent drilling; and
analysis to demonstrate the ore is commercially recoverable.), estimated future
gold price realization (considering historical and current prices, price trends
and related factors); and operating, capital and site restoration costs.
Reductions in the carrying value of property, plant and equipment, with a
corresponding charge to income, are recorded to the extent that the estimated
future net cash flows are less than the carrying value.

Estimates of future cash flows are subject to risks and uncertainties. It is
possible that changes could occur which may affect the recoverability of
property, plant and equipment.

Long-term investments. Long-term investments in shares of investee companies,
over which the Company has the ability to exercise significant influence, are
accounted for using the equity method. The cost method is used for entities in
which the Company owns less than 20% or cannot exercise significant influence.
The Company periodically reviews the carrying value of its investments. When a
decline in the value of an investment is other than temporary, the investment is
written down accordingly.

<PAGE>

Financial instruments. The Company enters into derivative financial instrument
contracts to manage certain market risks which result from the underlying nature
of its business. The Company uses spot deferred contracts and fixed forward
contracts to hedge exposure to commodity price risk for gold and silver; foreign
exchange forward contracts to hedge exposure to fluctuations in foreign currency
denominated revenues; and interest rate swaps to hedge exposure to changes in
interest rates. The Company uses written gold call options to economically hedge
exposure to commodity price risk for gold. Non-option derivative financial
instruments are accounted for using the accrual method as management views the
contracts as effective hedges and has designated the contracts as hedges of
specific exposures. Hedge effectiveness is assessed based on the degree to which
the cash flows on the derivative contracts are expected to offset the cash flows
of the underlying position or transaction being hedged.

Realized gains or losses on derivative contracts that qualify for hedge
accounting are deferred and recorded in income when the underlying hedged
transaction is recognized. The premiums received at the inception of written
call options are recorded as a liability. Changes in the fair value of the
liability are recognized currently in income. Gains or losses (realized or
unrealized) for derivative contracts which no longer qualify as hedges for
accounting purposes or which relate to a hedged transaction that has been sold
or terminated are recorded in income.

Gains on the early settlement of gold hedging contracts are recorded as deferred
revenue on the balance sheet and included in income over the original delivery
schedule of the hedged production.

Pension, post-retirement and post-employment benefits. Pension expense, based on
management assumptions, consists of the actuarially computed costs of pension
benefits in respect of the current year's service; imputed interest on plan
assets and pension obligations; and straight-line amortization of experience
gains and losses; assumption changes and plan amendments over the expected
average remaining service life of the employee group.

In fiscal 2000, the Company adopted the new Canadian Institute of Chartered
Accountants ("CICA") recommendation for costs of post-retirement and
post-employment benefits other than pensions. The expected costs of
post-retirement and post-employment benefits, other than pensions, to active
employees are accrued for in the financial statements during the years employees
provide service to the Company. As a result at January 1, 2000, a liability for
post-retirement and post-employment benefits other than pension of $4.5 million
was recorded and the deficit was correspondingly increased by $4.5 million.

Stock option plan. The stock option plan is described in Note 14. No
compensation expense is recognized under this plan when shares or share options
are issued to employees. Shares issued under this plan are recorded at the issue
price. Any consideration paid by employees on exercise of stock options or
purchases of stock is credited to common share capital.

Revenue recognition. The Company changed its accounting policy for revenue
recognition effective January 1, 2001 such that revenue is recognized upon
shipment to third-party gold refineries and title has passed to the customer.
Previously, revenue was recognized when the production process was completed or
when gold was poured in dor form at the mine. The Company retroactively adopted
this new accounting policy and the prior periods have not been restated, as the
net adjustment would not have a material impact on the reported amounts.

Site restoration. costs Estimated costs of site restoration are accrued and
expensed over the estimated life of the mine on a unit-of-production basis.
Ongoing environmental protection expenditures are expensed as incurred.
Estimates of the ultimate site restoration costs are based on current laws and
regulations and expected costs to be incurred, all of which are subject to
possible changes thereby impacting current determinations.

Mineral exploration. Mineral exploration expenditures are charged to income as
incurred. Property acquisition costs relating to exploration properties and
expenditures incurred on properties identified as having development potential
are deferred on a project basis until the viability of the project is
determined. Costs associated with economically viable projects are depreciated
and amortized in accordance with the policies described above. If a project is
not viable, the accumulated project costs are charged to income in the year in
which that determination is made.

<PAGE>

Income and mining taxes. The provisions for income and mining taxes are based on
the liability method. Future income taxes arise from the recognition of the tax
consequences of temporary differences by applying substantively enacted
statutory tax rates applicable to future years to differences between the
financial statements carrying amounts and the tax bases of certain assets and
liabilities. The Company records a valuation allowance against any portion of
those future income tax assets that it believes will, more likely than not, fail
to be realized. On business acquisitions, where differences between assigned
values and tax bases of assets acquired and liabilities assumed exist, the
Company recognizes the future income tax assets and liabilities for the tax
effects of such differences.

Future withholding taxes are provided on the unremitted net earnings of foreign
subsidiaries and associates to the extent that dividends or other repatriations
are anticipated in the future and will be subject to such taxes.

Per share information. Basic loss per common share has been calculated using the
weighted average number of common shares outstanding during the year and
reflects an adjustment for the increase in the equity component of the
convertible debentures. For the years ended December 31, 2001, 2000, and 1999,
conversion or exercise of the convertible debentures, convertible preferred
shares of subsidiary company, redeemable retractable preferred shares, stock
options and common share purchase warrants would have no dilutive effect.

New pronouncement. Effective January 1, 2001, the Company adopted retroactively
the new CICA recommendations for calculating earnings per share. Under the new
rules, the treasury stock method is used in assessing the dilutive effect of
stock options on the diluted earnings per share. The adoption of the new rules
had no effect on the reported amounts.

2000 and 1999 figures. Certain of the 2000 and 1999 figures have been
reclassified to conform to the 2001 presentation.

2.   Business and Property Acquisitions

2001 During 2001, the Company acquired a further 12.4% interest in E-Crete, LLC
("E-Crete") from its partner by funding its partner's share of cash calls,
thereby increasing its ownership interest to 85.9%.

On December 7, 2001, the Company completed the acquisition of a 100% interest in
the George/Goose Lake gold project in the Nunavut Territories by issuing
4,000,000 common shares of the Company valued at $3.8 million.

The following is a summary of the 2001 acquisitions both of which were accounted
for using the purchase method.

<TABLE>
<CAPTION>
                                                                George/
                                                   E-Crete     Goose Lake      Total
Fair value ascribed to net assets acquired:
<S>                                              <C>         <C>         <C>
        Property, plant and equipment              $   1.7     $   3.8     $   5.5
        Less liabilities assumed                       0.5           -         0.5
                                                   $   1.2     $   3.8     $   5.0

Purchase price:
        Cash                                       $   1.2     $     -     $   1.2
        Common shares                                    -         3.8         3.8
                                                   $   1.2     $   3.8     $   5.0
</TABLE>

2000 There were no business acquisitions during the year 2000.

1999 On February 26, 1999, the Company acquired 100% of La Teko Resources Ltd.
("La Teko"). The purchase price of $26.4 million was satisfied by the issuance
from treasury of 10.5 million common shares of the Company and the payment of
transaction costs of $0.5 million. The assets of La Teko included a 35%
ownership interest in the True North property and on 100% ownership interest in
the Ryan Lode property.

<PAGE>

On March 1, 1999, the Company acquired 100% of Kershaw Gold Company, Inc.
("Kershaw") for $2.0 million, thereby increasing its ownership interest in the
Haile Mining Venture from 62.5% to 100%.

On June 28, 1999, the Company acquired an additional 65% interest in the True
North property in Alaska for cash of $28.1 million, thereby increasing its
interest in the True North property to 100%.

On December 24, 1999, the Company acquired the Timmins assets of Royal Oak Mines
Inc. ("Pamour") for cash of $4.7 million and assumed certain environmental
reclamation liabilities on the historic producing areas. On December 31, 1999,
the Company acquired a further 1.7% of Omolon Gold Mining Company ("Omolon") (in
addition to the 53% interest acquired in 1998) for cash of $0.3 million.

The following is a summary of the 1999 acquisitions all of which were accounted
for using the purchase method.

<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
                                                                                              Additional
                                                                                                    1.7%
                                                                                             interest in
                                                  La Teko     Kershaw    True North    Pamour     Omolon        Total
- -----------------------------------------------------------------------------------------------------------------------------------
Fair value ascribed to net assets acquired:
<S>                                               <C>         <C>         <C>          <C>        <C>        <C>
  Property, plant and equipment                   $  26.3     $   2.0     $  28.1      $  8.0     $  1.3     $  65.7
  Other assets (including cash of $0.6 million)       0.1           -           -           -        1.1         1.2
- -----------------------------------------------------------------------------------------------------------------------------------
  Total assets                                       26.4         2.0        28.1         8.0        2.4        66.9
  Less liabilities assumed                              -           -           -         3.3        2.1         5.4
- -----------------------------------------------------------------------------------------------------------------------------------
                                                  $  26.4      $  2.0     $  28.1      $  4.7     $  0.3     $  61.5
===================================================================================================================================
Purchase price
  Cash                                            $   0.5      $  2.0     $  28.1      $  4.7     $  0.3     $  35.6
  Common shares                                      25.9           -           -           -          -        25.9
- -----------------------------------------------------------------------------------------------------------------------------------
                                                  $  26.4      $  2.0     $  28.1      $  4.7     $  0.3     $  61.5
===================================================================================================================================
</TABLE>

3.   Accounts Receivable

Accounts receivable are comprised of the following:
- --------------------------------------------------------------------------------
                                                            2001           2000
- --------------------------------------------------------------------------------
Taxes, interest and miscellaneous                      $     8.3     $     15.7
Due from joint venture partners                              5.5            4.6
- --------------------------------------------------------------------------------
                                                       $    13.8     $     20.3
================================================================================

4.   Inventories

Inventories are comprised of the following:
- --------------------------------------------------------------------------------
                                                            2001           2000
- --------------------------------------------------------------------------------
Gold bullion and gold in process                       $    15.1     $     17.2
Mine operating parts and supplies                           27.3           37.4
- --------------------------------------------------------------------------------
                                                       $    42.4     $     54.6
================================================================================

<PAGE>

5.   Property, Plant and Equipment

The components of property, plant and equipment are as follows:
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
                                                                              2001                               2000
- ------------------------------------------------------------------------------------------------------------------------------------
                                                                          Accumulated                        Accumulated
                                                                 Cost,    depreciation,   Net     Cost,      depreciation,   Net
                                                                net of    depletion and   book    net of     depletion and   book
                                                              write-down  amortization    value   write-down amortization    value
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                                                           <C>         <C>             <C>     <C>        <C>           <C>
Producing properties
  Mineral properties                                           $   0.3     $     -       $   0.3   $   8.3    $     -      $   8.3
  Plant and equipment (amortized on a straight-line basis)       173.6        77.4          96.2     196.0       86.5        109.5
  Plant and equipment (amortized on unit-of-production basis)    615.2       305.8         309.4     684.4      301.9        382.5
Exploration properties                                             9.1           -           9.1       5.3          -          5.3
- ------------------------------------------------------------------------------------------------------------------------------------
                                                               $ 798.2     $ 383.2       $ 415.0   $ 894.0    $ 388.4      $ 505.6
====================================================================================================================================
</TABLE>

During the year ended December 31, 2001, the Company disposed of certain mining
assets with a cost base of $66.3 million and accumulated depreciation, depletion
and amortization of $60.9 million and ceased to consolidate the Zimbabwe
operations.

In addition, the difference in value arising from the repurchase of the
Convertible Preferred Shares of Subsidiary Company of $25.7 million reduced the
cost of property plant and equipment (see Note 14).

6.   Long-term Investments

The quoted market value of the Company's interest in long-term investments is
$17.5 million as at December 31, 2001 (December 31, 2000 - $14.8 million).

7.   Joint Venture Interests

The Company conducts a portion of its business through joint ventures under
which the ventures are bound by contractual arrangements establishing joint
control over the joint ventures. The Company records its proportionate share of
assets, liabilities, revenue and operating expenses of the joint ventures. As at
December 31, 2001, the Company had interests in four joint venture projects.


(a)  Kamgold Joint Stock Company The Company owns a 25% interest in, and the
     right to operate, Kamgold, a Russian joint stock company and is responsible
     for negotiating project financing. Since inception, the Company, had
     capitalized $6.4 million of acquisition costs and development expenditures.
     In light of depressed metal process and unsuccessful attempts to advance
     the project these costs were written off during 2000.

(b)  Omolon Gold Mining Company The Company owns a 54.7% interest in Omolon, a
     Russian joint stock company, which operates the Kubaka mine located in
     eastern Russia. A 50% interest was acquired as a result of the Kinam Gold
     Inc. ("Kinam") acquisition, and additional interests of 3.0% and 1.7% were
     acquired in December 1998 and 1999, respectively (see Note 2).


(c)  Compania Minera Maricunga The Company owns a 50% interest in Compania
     Minera Maricunga ("CMM"), a Chilean contractual mining company, which was
     acquired as a result of the Kinam acquisition. CMM owns the Refugio mine
     located in Central Chile. On June 1, 1999, the Company was appointed
     Operator of the Refugio mine and continues in that capacity. The Company
     provides services to CMM in the planning and conduct of exploration,
     development and mining, and related operations with respect to the Refugio
     Project Properties and the Refugio mine. The investment in CMM was
     written-off during 2000 (see Note 15).

(d)  E-Crete, LLC The Company owns an 85.9% interest in E-Crete, an Arizona
     limited liability company. A 73.5% interest was acquired in 2000 by
     contributing assets and cash to the newly formed LLC. An additional 12.4%
     was acquired during 2001 by funding certain cash calls owed by the partner
     to the LLC. Project financing debt of $3.9 million has been guaranteed by
     the Company.

The following table summarizes information contained in the consolidated
financial statements relative to these joint venture interests:

<PAGE>

<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------
                                                      2001           2000           1999
- ----------------------------------------------------------------------------------------------
<S>                                             <C>            <C>            <C>
Revenue                                         $     87.4     $     98.9     $    115.6
Operating costs                                       57.9           66.4           80.8
Depreciation, depletion and amortization              21.6           30.9           35.8
Exploration                                            2.1            2.4            1.8
Interest                                               3.6            6.0            7.0
Write-down of property, plant and equipment            -             42.6           16.9
- ----------------------------------------------------------------------------------------------
                                                      85.2          148.3          142.3
==============================================================================================

Income (loss) before taxes                      $      2.2     $    (49.4)    $    (26.7)
==============================================================================================

Current assets                                  $     30.2     $      56.6    $      65.3
Property, plant and equipment                         39.4           53.2           116.0
- ----------------------------------------------------------------------------------------------
                                                      69.6          109.8           181.3

Current liabilities                                   20.3           40.0            39.7
Long-term liabilities                                 13.1           33.2            53.3
- ----------------------------------------------------------------------------------------------
Net investment in joint ventures                $     36.2     $     36.6     $      88.3
==============================================================================================
Cash flow provided from operating activities    $     35.8     $     24.1     $      25.1
==============================================================================================
Cash flow used in investing activities          $      0.6     $      7.8     $      10.4
==============================================================================================
</TABLE>

8.   Financial Instruments

The Company manages its exposure to fluctuations in commodity prices, foreign
exchange rates and interest rates by entering into derivative financial
instrument contracts in accordance with the formal risk management policies
approved by the Company's Board of Directors. The Company does not hold or issue
derivative contracts for speculative or trading purposes.

(a)  Commodity risk management The profitability of the Company is directly
     related to the market price of gold and silver. The Company uses spot
     deferred contracts and fixed forward contracts to hedge against changes in
     commodity prices for a portion of its forecasted gold and silver
     production. Spot deferred contracts are forward sale contracts with
     flexible delivery dates that enable management to choose to deliver into
     the contract on a specific date or defer delivery until a future date. If
     delivery is postponed, a new contract price is established based on the old
     contract price plus a premium (referred to as "contango"). The Company uses
     written call options to economically hedge exposure to changes in spot gold
     prices.

The outstanding number of ounces, average expected realized prices and
maturities for the gold commodity derivative contracts as at December 31, 2001
are as follows:


<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------
                             Spot Deferred                   Call         Average
                             Ounces Hedged    Average       Options       Strike
Expected Year of Delivery      '000 oz.        Price     Sold '000 oz.     Price
- ----------------------------------------------------------------------------------
<C>                              <C>          <C>              <C>        <C>
2002                             113          $   271          50         $   340
2003                             100          $   270         100         $   320
2004                             100          $   270          50         $   340
- ----------------------------------------------------------------------------------
Total                            313                          200
==================================================================================
</TABLE>

There were no silver commodity derivative contracts outstanding as at December
31, 2001. As at December 31, 2000, the Company had spot deferred contracts for
550,000 ounces of gold and call options sold for 450,000 ounces of gold.

<PAGE>

In August 2000, the Company closed out 150,000 ounces of gold forward sales
contracts that were designated as hedges for 2001 and realized a gain of $4.7
million. This gain was deferred and will be included in income over the original
delivery schedule of the various contracts.

In February of 2001, the Company closed out 500,000 ounces of spot deferred
contracts that were designated as hedges for 2001 to 2004 and realized proceeds
of $21.1 million. This gain has been deferred and will be included in income
over the original delivery schedule of the various contracts.

(b)  Foreign currency risk management All sales revenues for the Company are
     denominated in U.S. dollars. The Company is exposed to currency
     fluctuations on expenditures which are denominated in Canadian dollars,
     Zimbabwe dollars, Russian rubles, Chilean pesos and other currencies. These
     potential currency fluctuations could have a significant impact on the cost
     of producing gold and the profitability of the Company. This risk is
     reduced, from time to time, through the use of foreign exchange forward
     contracts to lock in the exchange rates on future revenue flows.

As at December 31, 2001, the Company has foreign currency forward contracts to
sell U.S. dollars and buy Canadian dollars of $24 million (2000 - $54 million)
at an average exchange rate of CDN $1.4934 per U.S. dollar. These contracts
mature over a 24 month period ending December 2003.

(c)  Interest rate risk management The Company is exposed to interest rate risk
     as a result of its issuance of variable rate debt. There are no interest
     rate hedging transactions outstanding as at December 31, 2001.

(d)  Energy price risk The Company is exposed to changes in crude oil prices as
     a result of diesel fuel consumption at its operating mines, primarily Fort
     Knox and Kubaka. The potential fluctuations in crude oil prices could have
     a significant impact on the cost of producing gold and the profitability of
     the Company. This risk is reduced, from time to time, through the use of
     crude oil forward purchase contracts to lock in firmly committed future
     operating costs.

As at December 31, 2001, the Company had agreements to buy 28,500 barrels of
crude oil forward at a price of $20.83 per barrel. The fair value of these crude
oil forward contracts approximates their carrying value at December 31, 2001.

(e)  Credit risk management Credit risk relates to accounts receivable and
     derivative contracts and arises from the possibility that a counterparty to
     an instrument fails to perform. The Company only transacts with
     highly-rated counterparties and a limit on contingent exposure has been
     established for each counterparty based on the counterparty's credit
     rating. At December 31, 2001, the Company's gross credit exposure was $13.8
     million (December 31, 2000 - $31.1 million).

(f)  Fair values of financial instruments Carrying values for primary financial
     instruments, including cash and cash equivalents, bullion settlements and
     other accounts receivable, marketable securities, accounts payable and
     accrued liabilities, approximate fair values due to their short-term
     maturities. The carrying value for long-term debt (other than convertible
     debentures and redeemable retractable preferred shares) approximates fair
     value primarily due to the floating rate nature of the debt instruments.

The fair value of the outstanding convertible debentures is based on the quoted
market price of the debentures at the respective balance sheet dates and, as at
December 31, 2001 and 2000, was approximately $71.8 million (CDN $114.3 million)
and $57.3 million (CDN $85.9 million), respectively.

Fair value estimates for derivative contracts are based on quoted market prices
for comparable contracts and represent the amount the Company would have
received from, or paid to, a counterparty to unwind the contract at the market
rates in effect at December 31. The following table represents the fair value
(loss) gain relating to derivative contracts outstanding as at December 31:

<PAGE>
- -------------------------------------------------------------------------------
                                                     2001           2000
- -------------------------------------------------------------------------------
Gold and silver forward sales contracts (1)     $    (3.6)     $    10.7
Foreign currency contracts (2)                       (1.5)          (0.3)

(1)  Based on a spot gold price of $277 and $273 as at December 31, 2001 and
     2000, respectively.
(2)  Based on a Canadian Dollar exchange rate of 1.5926 and 1.5002 at December
     31, 2001, and 2000, respectively.

The fair value of written call options is now recorded in the financial
statements at each measurement date.

9.   Long-Term Debt

<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------     -------------------------------
                                                                                   Principal repayment schedule
                                                                                        as at December 31, 2001
- ---------------------------------------------------------------------------     -------------------------------
                                     Interest rates        2000        2001        2002        2003        2004
- ---------------------------------------------------------------------------     -------------------------------
<S>                                  <C>                <C>         <C>         <C>         <C>         <C>
Kubaka project-financing debt           Variable        $  20.0     $   4.2     $   4.2     $     -     $     -
Kubaka subordinated debt                Variable            5.7           -           -           -           -
Fort Knox industrial revenue bonds      Variable           71.0        49.0        23.0        26.0           -
E-Crete project financing debt          Variable            2.8         3.3           -         3.3           -
Capital leases                          8.0%-9.5%          11.8         7.6         5.9         0.8         0.9
- ---------------------------------------------------------------------------     -------------------------------
                                                          111.3        64.1     $  33.1     $  30.1     $   0.9
                                                                                ===============================

Less current portion                                       31.5        33.1
- ---------------------------------------------------------------------------
                                                        $  79.8     $  31.0
===========================================================================
</TABLE>

The European Bank for Reconstruction and Development ("EBRD") and the U.S.
Overseas Private Investment Corporation ("OPIC") provided project-financing debt
on the Kubaka mine. As at December 31, 1999, this debt was $67.5 million. In
2000, Omolon repaid $30.9 million and in 2001 repaid $28.9 million leaving $7.75
million outstanding to EBRD as at December 31, 2001 (December 31, 2000 - $36.6
million). The Company's 54.7% proportionate share of these obligations is $4.2
million as at December 31, 2001 (December 31, 2000 - $20.0 million). Interest on
the project-financing debt is variable based upon LIBOR and as at December 31,
2001 is approximately 6.2% per annum (December 31, 2000 - 11.8%). The
project-financing debt has become recourse solely to Omolon after completion
tests were passed in late 1999. The project financing debt was originally
scheduled to be repaid by December 15, 2001. However, the project financing debt
loan has been extended until December 15, 2002, and EBRD has the right to extend
the project financing debt an additional 12 months to December 15, 2003.

A bank licensed to do business in Russia provided subordinated debt to finance
the Kubaka mine. This loan was secured by a letter of credit issued pursuant to
the syndicated credit facility. During 2001, the Company repaid $5.7 million to
fully satisfy the remaining balance of the loan and the guarantees and letters
of credit were released.

The solid waste disposal facility at the Fort Knox mine was financed by $71.0
million of tax-exempt industrial revenue bonds. The variable rate bonds,
maturing in May 2009, were issued by the Alaska Industrial Development and
Export Authority and are supported by a letter of credit issued by the Company
pursuant to the syndicated credit facility. The floating interest rate on the
bonds was approximately 1.9% as at December 31, 2001 (December 31, 2000 - 4.5%).
On April 4, 2001, the Company repaid $22.0 million of principal leaving a
balance of $49.0 million outstanding. On January 2, 2002, the Company repaid
$9.0 million of principal leaving a balance outstanding of $40.0 million.

In March 2000, the Company arranged a syndicated credit facility for $110.0
million. The primary purpose of this facility is to provide credit support that
enables the Company to issue letters of credit on the Fort Knox Industrial
Revenue bonds. This facility matures in January 2003 and as a result, the debt
supported by these letters of credit has been shown as maturing at the same time
as the facility. Management will agressively remarket this facility and expects
to extend the maturity date of the $30.0 million final balance. During the life
of the credit facility the Company must either reduce its letters of credit
according to an agreed upon amortization schedule or post cash in order to
defease the debt. The assets of the Fort Knox mine have been pledged as
collateral under this credit facility (Note 17).

<PAGE>

Loan Amortization Schedule

<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
Date                                 Amortization        Credit Facility Balance
- --------------------------------------------------------------------------------
<S>      <C>        <C>                              <C>
December 2000                         $       -                $     90.0
February 2001                              20.0                      70.0
January 2002                               20.0                      50.0
June 2002                                  20.0                      30.0
January 2003                   Facility expires                  -
</TABLE>

As at December 31, 2001, the loan facility had been reduced to $59.0 million.
The letters of credit issued at December 31, 2001 were as follows:

- --------------------------------------------------------------------------------
Amount     Purpose
- --------------------------------------------------------------------------------
$49.9      Credit Support for Fort Knox industrial revenue bonds
  3.9      Credit Support E-Crete project financing
  5.2      Reclamation and other obligations
- --------------------------------------------------------------------------------
$59.0
================================================================================

On January 2, 2002, the Company repaid $9.0 million of principal against the
Industrial Revenue Bonds. Consequently, the letter of credit supporting those
bonds was reduced by $9.2 million bringing the total letters of credit
outstanding down to $49.8 million.

The Company has capital leases for certain production equipment at its various
operations. Interest on these leases ranges from 8.0%-9.5% per annum.

In May 2000, E-Crete arranged a project finance loan which enabled it to finance
construction of its first production plant in Phoenix, Arizona. The loan
facility is guaranteed by a letter of credit issued pursuant to the syndicated
credit facility.

10.  Site Restoration Costs

Although the ultimate amount of site restoration costs is uncertain, the Company
estimates this obligation at $72.9 million based on information currently
available including closure plans and applicable regulations. As at December 31,
2001, the Company has accrued $55.6 million of this estimated obligation
(December 31, 2000 - $57.2 million). In addition, the Company has posted bonds
and letters of credit totaling $57.3 million as requested by various regulatory
agencies. In view of uncertainties concerning future site restoration costs,
ultimate costs could differ from the estimated amounts. Future changes, if any,
in regulations and cost assumptions may be significant and will be recognized
when applicable.

11.  Convertible Debentures

On December 5, 1996, the Company issued unsecured subordinated convertible
debentures in the aggregate principal amount of $146.0 million (CDN $200.0
million). The debentures bear interest at 5.5% per annum, mature on December 5,
2006 and, at the holders' option, are convertible into common shares of the
Company at a conversion price of CDN $13.35 per share, being a rate of 74.906
common shares per CDN $1,000 principal amount of debentures. Interest is payable
in cash; however, the Company has the right to settle the principal amount by
the issuance of common shares. The debentures were redeemable after June 30,
2000 until December 31, 2001 at par plus accrued and unpaid interest under
certain conditions relating to the price of the common stock. On or after
December 31, 2001, the debentures are redeemable at par plus accrued and unpaid
interest. No debentures were redeemed in either 2000 or 2001. The Company may,
at its option, elect to satisfy its obligation to pay the principal amount of
the debentures upon redemption or at maturity by issuing and delivering to the
holders, for each $1,000 principal amount of debentures, that number of common
shares obtained by dividing such amount by 95% of the weighted average trading
price of the common shares on The Toronto Stock Exchange for the 20 consecutive
trading days ending on the fifth trading day prior to the date that the
requisite notice of such election is given.

<PAGE>

The debentures are being accounted for in accordance with their substance and
are presented in the financial statements in their component parts, measured at
their respective fair values at the time of issue. The debt component has been
calculated as the present value of the required interest payments discounted at
a rate approximating the interest rate that would have been applicable to
non-convertible debt at the time the debentures were issued. Interest expense is
determined on the debt component, such component being reduced by the required
semi-annual interest payments. The difference between the debt component and the
face value of the debentures is classified as equity, net of issue costs
adjusted for income taxes. The equity component of the debentures, net of the
value ascribed to the holders' option, is increased over the term to the full
face value by charges to retained earnings (deficit).

The debentures are denominated in Canadian dollars. As a result of changes in
the exchange rate between the U.S. and Canadian dollars, the U.S. dollar
equivalent of the debt component has been reduced. This unrealized foreign
exchange gain is being deferred and included in income over the term of the
debentures. Accordingly, included in the debt component of the debentures at
December 31, 2001 is a deferred unrealized foreign exchange gain totalling $2.2
million (December 31, 2000 - $1.7 million).

During 2000, the Company bought back $0.15 million (CDN $0.2 million) principal
amount of the debentures for $0.07 million (CDN $0.1 million). None were bought
back in 2001.

As at December 31, 2001, the outstanding principal amount of the debentures was
$122.8 million (CDN $195.6 million) (December 31, 2000 - $130.4 million (CDN
$195.6 million)).

12.  Redeemable Retractable Preferred Shares

As at December 31, 2001 and 2000, 384,613 redeemable retractable preferred
shares are outstanding and held by a senior officer and director of the Company.

The holder of the redeemable retractable preferred shares is entitled to receive
a CDN $0.80 per share fixed cumulative annual preferential cash dividend,
payable in equal quarterly installments and, is entitled at any time to convert
all or any part of the redeemable retractable preferred shares into common
shares on the basis of 8.2555 common shares for each redeemable retractable
preferred share so converted, subject to anti-dilution adjustments. The Company
may at any time redeem, upon a minimum thirty day notice, all or any part of the
redeemable retractable preferred shares at a price of CDN $10.00 per share,
together with unpaid dividends accrued to the date of redemption. The holder of
the redeemable retractable preferred shares is entitled to require the Company
to redeem for cash all or any part of the redeemable retractable preferred
shares at this price. On July 27, 2000, the Company suspended the payment of
dividends on the redeemable retractable preferred shares. As at December 31,
2001, $0.3 million of cumulative dividends are accrued and included in accounts
payable and accrued liabilities.

13.  Convertible Preferred Shares of Subsidiary Company

The convertible preferred shares of subsidiary company comprise 1,840,000 shares
of $3.75 Series B Convertible Preferred Shares of Kinam ("Kinam Preferred
Shares"). The Kinam Preferred Shares are convertible into common shares of the
Company at a conversion price of $10.3073 per share (equivalent to a conversion
rate of 4.8512 common shares for each preferred share), subject to adjustment in
certain events.

The Kinam Preferred Shares are redeemable at the option of the Company at any
time on or after August 15, 1997, in whole or in part, for cash initially at a
redemption price of $52.625 per share declining ratably annually to $50.00 per
share on or after August 15, 2004, plus accrued and unpaid dividends. Annual
cumulative dividends of $3.75 per share are payable quarterly on each February
15, May 15, August 15 and November 15, as and if declared by Kinam's Board of
Directors.

On July 12, 2001, the Company acquired 945,400 Kinam Preferred Shares in
exchange for 24,186,492 common shares of the Company (Note 14), leaving 894,600
owned by non-controlling shareholders.

No dividends were paid on the Kinam Preferred Shares during 2001 (2000 - $3.4
million). Due to low gold prices and reduced cash flow from operations, dividend
payments on these shares were suspended in August 2000 and continue to remain
suspended. The cumulative dividends in arrears on the Kinam Preferred Shares
owned by non-controlling shareholders of $5.1 million as at December 31, 2001
have been accrued and included in the carrying value of the convertible
preferred shares of subsidiary company.

<PAGE>

If all of the Kinam Preferred Shares owned by non-controlling shareholders were
converted, an additional 4,339,884 common shares of the Company would be issued.

14.  Common Share Capital
The authorized share capital of the Company is comprised of an unlimited number
of common shares.

A summary of common share transactions for the three years ended December 31,
2001 is as follows:

<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------
                                                         2001                      2000                      1999
- ------------------------------------------------------------------------------------------------------------------------------
                                                Number of                 Number of                 Number of
                                                   shares     Amount         shares     Amount         shares     Amount
                                                (millions)                (millions)                (millions)
- ------------------------------------------------------------------------------------------------------------------------------
<S>                                             <C>         <C>           <C>         <C>           <C>         <C>
Balance, January 1,                               300.9     $  913.2        300.3     $  920.3        292.6     $  904.2
Issued:
    Upon acquisition of Kinam preferred shares     24.2         23.2            -            -            -            -
    Pursuant to the La Teko acquisition             -              -            -            -         10.5         25.9
    Under restricted share plan                     0.1          0.1            -            -            -            -
    Under employee share purchase plan              1.2          0.8          2.1          1.8          0.9          2.0
    Upon buy-back of common shares under
       normal course issuer bid                      -             -         (3.5)       (10.3)        (3.7)       (11.8)
    Upon the acquisition of George/Goose Lake
           Gold Project                             4.0          3.8            -            -            -            -
    Private placement for cash                      4.3          4.6          2.0          1.4            -            -
- ------------------------------------------------------------------------------------------------------------------------------
Balance, December 31,                             334.7     $  945.7        300.9   $    913.2        300.3     $  920.3
==============================================================================================================================
</TABLE>

On July 12, 2001, the Company issued 24,186,492 common shares valued at $23.2
million to acquire 945,400 Kinam Preferred Shares plus rights to accrued but
unpaid dividends with a book value of $48.9 million (Note 13). The $25.7 million
difference in value associated with this transaction was applied against the
carrying values of certain property, plant and equipment.

On September 27, 2001, the Company issued 2,000,000 flow-through common shares
under a private placement transaction, for cash consideration of $2.1 million.
On December 10, 2001 an additional 2,250,000 flow-through common shares were
issued under a private placement transaction for cash consideration of $2.5
million.

On December 14, 2001, the Company issued 4,000,000 common shares to acquire a
100% interest in the George/Goose Lake gold project in Nunavut valued at $3.8
million.

On December 22, 2000, the Company issued 2,000,000 flow-through common shares
under a private placement transaction, for cash consideration of $1.4 million.
During the years 2000 and 1999, the Company initiated normal course issuer bids
for the purchase of common shares of the Company. The excess of the stated
capital of the shares purchased over their cost has been recorded as contributed
surplus as follows:
- --------------------------------------------------------------------------------
                Number of
            common shares
                purchased             Cost of        Stated       Contributed
                (millions)        acquisition       capital           surplus
- --------------------------------------------------------------------------------
2000               3.5          $    5.3         $    10.3        $    5.0
1999               3.7          $    7.5         $    11.8        $    4.3

On February 26, 1999, the Company issued 10.5 million common shares pursuant to
the La Teko acquisition.

<PAGE>

Share Purchase Plan The Company has an employee share purchase plan whereby
employees of the Company have an opportunity to purchase common shares. The plan
allows employees' to contribute up to a maximum of 10% of their base annual
salary. In addition, the Company matches the employees' contributions.
Quarterly, the Company issues from treasury common shares equal to the
employees' contribution and the Company's contribution. The common shares are
purchased based on the average of the last twenty trading sessions prior to the
end of the quarter. The Company issued from treasury 1.2 million common shares
pursuant to the plan during 2001 (2000 - 2.1 million).

Restricted Share Plan On February 15, 2001, the Company approved the adoption of
a restricted share plan. The restricted share plan provides that restricted
share rights may be granted to employees, officers, directors and consultants of
the Company as a discretionary payment in consideration of past services. A
restricted share right is exercisable into one common share entitling the holder
to acquire the common share for no additional consideration. The maximum number
of common shares issuable under the restricted share plan is currently
1,000,000. A participant of this plan would have the right to receive cash
instead of restricted shares upon exercise of the restricted share rights. As at
December 31, 2001, the Company had no restricted share rights outstanding.

Stock Option Plan The Company has a stock option plan for directors, officers
and employees, enabling them to purchase common shares. The total number of
options outstanding at any time cannot exceed 10% of the total number of
outstanding common shares. Each option granted under the plan is for a maximum
term of five years and options granted before July 20, 2000 are exercisable as
to 33.33% each year, commencing one year after the date of grant. Options
granted from July 20, 2000 to September 19, 2001 are exercisable 50% immediately
and 50% on or after the first anniversary date of such grant. Options granted to
the Chairman, President and Directors, subsequent to September 19, 2001 are
exercisable as to 33.33% each year commencing one year after the date of grant.
Options granted to all other officers and employees, subsequent to September 19,
2001, are exercisable as to 50% each year commencing one year after the date of
grant. The exercise price is determined by the Company's Board of Directors at
the time the option is granted, subject to regulatory approval and may not be
less than the most recent closing price of the common shares at the date of
grant. The stock options outstanding at December 31, 2001 expire at various
dates to September 20, 2006. As at December 31, 2001, 0.6 million common shares,
in addition to those outstanding at year end, were available for granting of
options.

A summary of the Company's outstanding stock option transactions is as follows:

<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------
                                                    2001          2000          1999
                                                 (millions)    (millions)    (millions)
- -------------------------------------------------------------------------------------------
<S>                                           <C>           <C>            <C>
Outstanding at beginning of year                    11.3          10.5           8.4
Exercised                                              -             -             -
Granted                                              1.4           3.6           2.1
Exchanged pursuant to the La Teko acquisition          -             -           0.6
Cancelled                                           (1.0)         (2.8)         (0.6)
- -------------------------------------------------------------------------------------------
Outstanding at end of year                          11.7          11.3          10.5
===========================================================================================
</TABLE>

<TABLE>
<CAPTION>
         The following table summarizes information about the stock options outstanding at December 31, 2001:
- --------------------------------------------------------------------------    --------------------------
                                                       Options outstanding           Options exercisable
- --------------------------------------------------------------------------    --------------------------
<S>                      <C>
                                                                                   Number
                                  Number             Weighted                 exercisable
                          outstanding as              average     Weighted          as at       Weighted
                             at December            remaining      average       December        average
                                31, 2001          contractual     exercise       31, 2001       exercise
Range of exercise prices          (000's)                life        price         (000's)         price
- --------------------------------------------------------------------------    --------------------------
$0.65 -$2.00                       6,958    3 years, 167 days        $1.05          3,372          $0.70
$2.01 -$4.00                       4,580     1 year, 102 days        $2.60          4,565          $2.60
$4.01 -$10.93                        212    2 years, 157 days        $6.89            212          $6.89
</TABLE>

<PAGE>

Common Share Purchase Warrants There were 8.8 million common share purchase
warrants issued in 1998 to Cyprus Amax as part of the Kinam acquisition which
expired on June 1, 2001 without being exercised.

15.  Write-down of Property, Plant and Equipment
The Company periodically reviews the carrying values of its portfolio of mining
properties and advanced stage exploration properties. Through this process the
Company determined that the following assets had been impaired and therefore
have been written down to their estimated recoverable amount.

The components of the write-down are as follows:
- --------------------------------------------------------------------------------
                                                2001         2000          1999
- --------------------------------------------------------------------------------
Fort Knox mine                              $      -     $      -     $   108.8
Kubaka mine                                        -            -          10.7
Refugio mine                                       -         36.1          11.2
Denton-Rawhide mine                                -            -          10.0
Goldbanks property                                 -            -          27.7
Blanket mine                                    11.8            -             -
Non-core assets                                  4.3         36.0          16.5
- --------------------------------------------------------------------------------
                                            $   16.1     $   72.1     $   184.9
================================================================================

The 2001 fourth quarter review was performed using a gold price assumption of
$300 per ounce.

In the fourth quarter of 2001, following a comprehensive review of its mining
properties on the basis set out in Note 1, the Company determined that the
estimated cost to reclaim the DeLamar mine was insufficient and required a
further $4.3 million accrual. In addition, as a result of the extreme
inflationary pressures within Zimbabwe, difficulty in accessing foreign currency
to pay for imported goods and services and the current civil unrest, the Company
has recorded a write-down of the carrying value of the Blanket mine by $11.8
million (including cash of $1.5 million). Furthermore, the current political
situation in Zimbabwe and the related social and economic instability have
prevented the Company from continuing to exercise control of its subsidiary in
Zimbabwe, which operates the Blanket mine. Consequently, the imposition of
severe foreign exchange and currency export restrictions and the uncertainty as
to whether the Zimbabwean subsidiary had the ability to distribute its earnings,
the Company has discontinued the consolidation of the Zimbabwean subsidiary
effective December 31, 2001. The investment in the subsidiary is nil following
the write-down of the Blanket mine described above.

In the fourth quarter of 2000, following a comprehensive review of its mining
properties on the basis set out in Note 1, the Company determined that the net
recoverable amounts of the Refugio mine and other non-core assets and
development projects (principally Aginskoe, DeLamar, Macassa, Guanaco, Sleeper,
QR and Hayden Hill) were less than the net book value of the related assets. As
a result of this review, the Company recorded a pre-tax write-down totaling
$72.1 million to write-down these mining properties and other development
projects and non-core assets to their estimated recoverable amounts. The 2000
fourth quarter review was performed using a gold price assumption of $300 per
ounce.

In the fourth quarter of 1999, following a comprehensive evaluation of its
mining properties on the basis set out in Note 1, the Company determined that
the net recoverable amounts of the Fort Knox, Kubaka, Refugio, and
Denton-Rawhide mines were less than the net book value of the related assets. As
a result of this review, the Company recorded a pre-tax write-down totalling
$184.9 million to write-down these mining properties and other development
projects and non-core assets to their estimated recoverable amounts. The 1999
fourth quarter review was performed using a gold price assumption of $300 per
ounce.

<PAGE>

16.  Income and Mining Taxes
(a)  The provision for (recovery of) income and mining taxes is as follows:
- --------------------------------------------------------------------------------
                                                    2001        2000        1999
- --------------------------------------------------------------------------------
Income taxes
     Current
            Canada (i)                           $   0.2     $   0.3     $   0.3
            Foreign                                  2.7         4.1         2.6
     Future
            Canada                                     -           -           -
            Foreign                                    -           -           -
Mining taxes
     Current - Canada                                  -           -           -
     Future - Canada                                   -        (3.5)          -
- --------------------------------------------------------------------------------
                                                 $   2.9     $   0.9     $   2.9
================================================================================
(i)  Represents Large Corporations Tax.

(b)  The reconciliation of the combined Canadian federal and provincial
     statutory income tax rate to the effective tax rate is as follows:
- --------------------------------------------------------------------------------
                                                    2001        2000        1999
- --------------------------------------------------------------------------------
Combined statutory income tax rate               (41.1%)     (42.0%)     (43.0%)
Increase (decrease) resulting from:
        Mining taxes                                   -        (2.9)          -
        Resource allowance and depletion             4.7         0.2         0.1
        Difference in foreign tax rates             10.2        12.0         9.8
        Non-recognition of benefit of losses        35.7        33.1        31.3
        Other                                        0.6         0.4         3.1
- --------------------------------------------------------------------------------
Effective tax rate                                  10.1%        0.8%       1.3%
================================================================================
(c)  At December 31, 2001, the Company has Canadian net operating loss
     carryforwards of approximately $20.3 million which expire in 2006 to 2008.

(d)  At December 31, 2001, the Company has U.S. net operating losses
     carryforward of approximately $244.5 million and alternative minimum tax
     net operating losses of approximately $153.5 million expiring in 2004
     through 2021. The use of the U.S. losses carryforward will be limited in
     any given year as a result of previous changes in ownership of the Company.

(e)  At December 31, 2001, the Company has Chilean net operating losses
     carryforward of approximately $131.8 million which do not expire.

(f)  At December 31, 2001, the Company has Australian net operating losses
     carryforward of approximately $8.1 million which do not expire.

<PAGE>

(g)  The following information summarizes the principal temporary differences
     and the related future tax effect.
- --------------------------------------------------------------------------------
                                               2001        2000        1999
- --------------------------------------------------------------------------------
Future tax assets
        Accrued expenses and other          $   4.4     $   5.1     $   1.8
        Site restoration cost accruals          5.9        10.5        10.8
        Deferred revenue                          -         1.4         3.3
        Alternative minimum tax credits         8.0         5.7         9.5
        Non-capital loss carryforwards        123.7       129.1       103.8
        Inventory capitalization                0.2         0.5         1.9
- --------------------------------------------------------------------------------
        Gross future tax assets               142.2       152.3       131.1
Future tax liabilities
        Property, plant and equipment          41.9        20.0        29.6
- --------------------------------------------------------------------------------
        Gross future tax liabilities           41.9        20.0        29.6
- --------------------------------------------------------------------------------
                                              100.3       132.3       101.5
Valuation allowance                           103.6       135.8       108.8
- --------------------------------------------------------------------------------
Net future tax liabilities                  $   3.3     $   3.5     $   7.3
================================================================================

17.  Segmented Information

The Company operates five gold mines: Hoyle Pond, located in Ontario; Kubaka
(54.7% ownership), located in Russia; Fort Knox, located in Alaska; Blanket,
located in Zimbabwe and Refugio, located in Chile.

In addition to its producing gold mines, the Company has an 85.9% interest in
E-Crete, a producer of aerated concrete, and several other gold mining assets in
various stages of reclamation, closure, care and maintenance and development,
and two corporate offices in Canada and the United States. The accounting
policies used by these segments are the same as those described in the Summary
of Significant Accounting Policies (see Note 1).

As the products and services in each of the reportable segments, except for the
corporate activities, are essentially the same, the reportable segements have
been determined at the level where decisions are made on the allocation of
resources and capital, and where complete internal financial statements are
available.

<PAGE>

<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
                                                             Reportable Operating Segments
- ------------------------------------------------------------------------------------------------------------
                                                                                 Blanket                        Corporate
                                        Hoyle     Kubaka    Fort Knox       (See Note 15)   Refugio   E-Crete   and Other(c)   Total
- ------------------------------------------------------------------------------------------------------------------------------------
As at and for the year ended
    December 31, 2001

<S>                                  <C>       <C>        <C>              <C>           <C>       <C>         <C>       <C>
Mining revenue                         $ 41.7     $ 67.8     $ 109.0             $ 13.3     $ 18.4    $   -      $ 19.9     $ 270.1
Interest income                             -        2.2           -                0.1          -        -         2.9         5.2
Interest expense                            -        2.0         3.6                  -        0.4      0.3         2.8         9.1
Depreciation, depletion and
   amortization                          13.2       24.0        42.9                2.3          -      1.1         2.3        85.8
Segment (loss) profit(a)                 (0.7)       8.7       (20.9)             (10.8)       1.7     (3.9)       (2.0)      (27.9)
Segment assets                           86.6       70.3       324.3                  -        7.0      8.5        80.9(b)    577.6
Capital expenditures                      7.9        0.4        20.2                1.1          -      0.1         0.7        30.4

As at and for the year ended
    December 31, 2000

Mining revenue                         $ 38.4     $ 67.7     $ 102.8             $  9.3     $ 23.8    $   -      $ 29.0     $ 271.0
Interest income                             -        2.1           -                0.5          -        -         6.6         9.2
Interest expense                            -        3.5         5.7                  -        0.7        -         4.4        14.3
Depreciation, depletion and
   amortization                          13.1       30.8        31.9                2.2        3.9        -        11.3        93.2
Segment (loss) profit(a)                 (8.3)       2.2        (9.7)              (1.3)     (40.3)    (1.3)      (42.5)     (101.2)
Segment assets                           96.8      122.6       345.0               12.0        9.4      7.9       106.3(b)    700.0
Capital expenditures                     13.9        0.1        17.6                1.5        3.2      4.3         1.0        41.6

As at and for the year ended
    December 31, 19998

Mining revenue                       $      38.1    $   71.0    $   98.3    $   10.3    $   25.2        -       $   61.1    $ 304.0
Interest income                              -          3.0         0.3         0.7         0.1         -           6.8        10.9
Interest expense                             -          5.4         5.7         -           0.8         -           3.9        15.8
Depreciation, depletion and amortization     12.2       35.9        43.9        1.0         4.9         -           13.0      110.9
Write-down of mineral properties              -         10.6        108.8       -           11.2        -           54.3      184.9
Segment (loss) profit(a)                     (2.9)      (13.5)      (129.2)     1.7         (17.5)      -           (64.7)   (226.1)
Segment assets                               102.7      148.3       357.7       8.7         47.1        -           217.9(b)  882.4
Capital expenditures                         18.6       1.1         9.5         0.9         8.0         -           5.9        44.0

(a)  segment (loss) profit includes the write-down of property, plant and
     equipment.

(b)  includes $64.4 million (2000 - $53.4 million, 1999 - $86.5 million) in cash
     and cash equivalents held at the Corporate level.

(c)  includes Corporate and other non-core mining operations.
</TABLE>

<TABLE>
<CAPTION>
                                 Reconciliation of reportable operating segment loss to net loss for the year:
- --------------------------------------------------------------------------------------------------------------
                                                                         2001           2000           1999
- --------------------------------------------------------------------------------------------------------------
<S>                                                                 <C>            <C>            <C>
Segment loss                                                        $   (25.9)     $   (58.7)     $  (161.4)
Add (deduct) items not included in segment loss:
Corporate and other                                                      (2.0)         (42.5)         (64.7)
- --------------------------------------------------------------------------------------------------------------
                                                                        (27.9)        (101.2)        (226.1)
Gain on sale of assets                                                    1.2            4.1            0.1
Share in loss of investee companies                                      (2.2)          (8.1)          (0.3)
Write-down of marketable securities and long-term investments               -          (13.1)          (4.6)
Provision for income and mining taxes                                    (2.9)          (0.9)          (2.9)
Dividends on convertible preferred shares of subsidiary company          (5.1)          (6.9)          (6.9)
- --------------------------------------------------------------------------------------------------------------
Net loss for the year                                               $   (36.9)     $  (126.1)     $  (240.7)
==============================================================================================================
</TABLE>

<PAGE>


Enterprise-wide disclosure:
Geographic information:
<TABLE>
<CAPTION>
- -------------------------------------------------------------      ----------------------
                                                                                Property,
                                               Mining revenue         plant and equipment
- -------------------------------------------------------------      ----------------------
                             2001          2000          1999          2001          2000
- -------------------------------------------------------------      ----------------------
<S>                     <C>           <C>           <C>           <C>           <C>
United States            $  123.3      $  123.9      $  134.1      $  289.8      $  339.2
Russia                       67.8          67.7          71.0          31.0          53.2
Chile                        18.7          28.1          31.7             -             -
Other                        13.3           9.3          10.3           5.3          15.4
- -------------------------------------------------------------      ----------------------
      Total foreign         223.1         229.0         247.1         326.1         407.8
Canada                       47.0          42.0          56.9          88.9          97.8
- -------------------------------------------------------------      ----------------------
      Total              $  270.1      $  271.0      $  304.0      $  415.0      $  505.6
=============================================================      ======================
</TABLE>

18.  Employee Pension and Retirement Plans
Defined Contribution Pension and Retirement Plans:

The Company has several defined contribution pension and retirement plans
covering substantially all employees in North America and certain foreign
countries. Under these plans the Company either contributes a set percentage of
the employees salary into the plan or matches a percentage of the employees
contributions. The employees are able to direct the contributions into a variety
of investment funds offered by the plans. Company contributions to these plans
amounted to $2.1 million in 2001, $2.2 million in 2000, and $2.3 million in
1999.

Defined Benefit Pension Plans:

In Canada, the Company has a defined benefit pension plan covering the hourly
employees of the Macassa mine. The plan is currently in the process of being
wound up as of November 30, 2002. No further benefit will be earned by employees
under that plan.

In the United States, defined benefit plans cover former employees of the
Candelaria and DeLamar mines, and certain U.S. employees of the mines previously
owned by Kinam. Prior to the Kinam acquisition, all employees in the U.S.
employed by Kinam were covered by a non-contributory defined benefit pension
plan. That plan was frozen on June 1, 1998 and all active employees were
transferred into the Company's defined contribution pension plan. Benefits under
these plans are based on either the employee's compensation prior to retirement
or stated amounts for each year of service with the Company. The Company makes
annual contributions to the plans in accordance with applicable provincial
legislation for the Canadian plan and the requirements of the Employee
Retirement Income Security Act of 1974 (ERISA) for U.S. plans.

Net annual pension expense includes the following components:
- --------------------------------------------------------------------------------
                                              2001           2000           1999
- --------------------------------------------------------------------------------
Service cost                               $   0.1        $   0.1        $   0.1
Interest cost                                  0.7            0.7            0.7
Expected return on assets                    (0.8)          (0.8)          (0.3)
- --------------------------------------------------------------------------------
Net periodic expense                      $     -        $     -        $   0.5
================================================================================

<PAGE>

       The following table summarizes the change in benefit obligations:
- --------------------------------------------------------------------------------
                                                             2001          2000
- --------------------------------------------------------------------------------
Benefit obligation, beginning of year                    $   10.8      $    9.9
Service cost                                                  0.1           0.1
Interest cost                                                 0.7           0.7
Actuarial loss                                                0.6           0.7
Benefits paid                                                (0.6)         (0.6)
- --------------------------------------------------------------------------------
Benefit obligation, end of year                          $   11.6      $   10.8
================================================================================


 The following table summarizes the funded status of the plans and the related
    amounts recognized in the Company's financial statements at December 31:
- --------------------------------------------------------------------------------
                                                             2001          2000
- --------------------------------------------------------------------------------
Projected benefit obligations                            $   11.6      $   10.8
Plan assets at fair value                                   (10.3)         (9.6)
- --------------------------------------------------------------------------------
Plan assets less than projected benefit obligations           1.3           1.2
Unrecognized net gain (loss)                                 (0.9)          0.3
- --------------------------------------------------------------------------------
Accrued pension liability                                $    0.4      $    1.5
================================================================================


    The following table summarizes the change in fair value of plan assets:
- --------------------------------------------------------------------------------
                                                             2001          2000
- --------------------------------------------------------------------------------
Fair value of plan assets, beginning of year              $   9.6       $   9.0
Actual return                                                 0.4           0.5
Employer contributions                                        1.0           0.8
Benefits paid                                                (0.6)         (0.6)
Other                                                        (0.1)         (0.1)
- --------------------------------------------------------------------------------
Fair value of plan assets, end of year                    $  10.3       $   9.6
================================================================================


The following assumptions were used in calculating the funded status of the
       plans at December 31 and the pension cost for the subsequent year:
- --------------------------------------------------------------------------------
                                                             2001          2000
- --------------------------------------------------------------------------------
Expected long-term rate of return on assets                  7.5%          8.0%
Discount rate                                                7.0%          7.5%
Rate of increase in compensation levels                       n/a           n/a

19.  Post-retirement Benefits Other Than Pensions

The Company also provides certain health care and life insurance benefits to
retired employees in the United States. The post-retirement health care plans
are contributory in certain cases based upon years of service, age, and
retirement date. The Company does not fund post-retirement benefits other than
pensions and may modify plan provisions at its discretion. Net periodic
post-retirement costs for the years ended December 31, 2001 and 2000 were
insignificant.

<PAGE>

The following table sets forth the status of the plans and the related amounts
recognized in the Company's financial statements at December 31:

<TABLE>
<CAPTION>
<S>                                                                                 <C>          <C>
- --------------------------------------------------------------------------------------------------------
                                                                                    2001         2000
- -------------------------------------------------------------------------------------------------------
Accumulated post-retirement benefit obligation:
        Retirees                                                                $    2.8      $   2.5
        Active plan participants                                                       -            -
- -------------------------------------------------------------------------------------------------------
Total accumulated post-retirement benefit obligation                                 2.8          2.5
Plan assets at fair value                                                              -            -
- -------------------------------------------------------------------------------------------------------
Accumulated post-retirement benefit obligation in excess of plan assets             (2.8)        (2.5)
Unrecognized prior service cost                                                        -            -
Unrecognized net loss (gain)                                                         0.1         (0.1)
- -------------------------------------------------------------------------------------------------------
Accrued post-retirement benefit cost                                            $   (2.7)     $  (2.6)
=======================================================================================================
</TABLE>

The accumulated post-retirement benefit obligation was determined using a
weighted average annual discount rate of 7.0% in 2001 and 7.75% in 2000. The
assumed health care trend rate for 2001 is 10.65% declining gradually to 5.50%
in 2017 when Company costs associated with the plan are capped. A 1% increase in
the health care cost trend rate used would have resulted in an insignificant
increase in the 2001 post-retirement benefit cost and the accumulated benefit
obligation at December 31, 2001.

Post-employment Benefits The Company has a number of post-employment plans
covering severance, disability income, and continuation of health and life
insurance for disabled employees. At December 31, 2001 and 2000, the Company's
liability for post-employment benefits totaled $1.5 million and $2.4 million,
respectively, and is included in other liabilities.

20.  Differences between Canadian and United States Generally Accepted
     Accounting Principles

The consolidated financial statements have been prepared in accordance with
Canadian generally accepted accounting principles ("CDN GAAP") which differ from
those principles that the Company would have followed had its consolidated
financial statements been prepared in accordance with generally accepted
accounting principles in the United States ("U.S. GAAP").

<PAGE>
<TABLE>
<CAPTION>

                                          Material variations between financial statement items under CDN GAAP and the
                                          amounts determined using U.S. GAAP are as follows:

                                          Consolidated Balance Sheets:
- ------------------------------------------------------------------------------------------------------------------------------------
                                                                    Deferred            Debt                                  Equity
                                                        Property,    charges       component                               component
                                 Long-term  Marketable  plant and  and other  of convertible         Other  Deferred  of convertible
                               investments  securities  equipment     assets      debentures   liabilities   revenue      debentures
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                           <C>          <C>         <C>        <C>        <C>              <C>          <C>       <C>
As at December 31, 2001
   under CDN GAAP               $  12.9     $  1.5      $ 415.0    $  11.0       $  28.1        $   -        $  9.6        $ 124.8

Recognition of deferred
   exchange  gains on
   convertible debentures (a)         -          -           -          -             -             -            -           (20.2)

Elimination of the effects of
   recognition of the equity
   component of convertible
   debentures (a)                     -          -            -        0.5          94.7            -            -          (104.6)

Additional  write-down of
   property, plant and
   equipment under U.S.
   GAAP (b)                           -          -        (60.5)         -             -            -            -              -

Reduction in depreciation,
   depletion and amortization
   under U.S. GAAP (b)                -          -         17.9          -             -            -            -              -

Reversal of  1991 deficit
   elimination (c)                    -          -            -          -             -            -           -               -

Unrealized gains on marketable
   securities and long-term
   investments (d)                  4.6        0.3            -          -             -            -           -               -

Adoption of SFAS 133 (e)              -          -            -          -             -          4.6        (9.6)              -

Premium on flow-through
     shares issued (f)                -          -            -          -             -          1.1           -               -
- ------------------------------------------------------------------------------------------------------------------------------------
As at December 31, 2001
     under U.S. GAAP            $  17.5     $  1.8      $ 372.4    $  11.5       $ 122.8        $ 5.7      $    -         $     -
====================================================================================================================================
</TABLE>


                                          Consolidated Balance Sheets:
- --------------------------------------------------------------------------------
                                                          Common           Other
                                                           share   comprehensive
                                           Deficit       capital          income
- --------------------------------------------------------------------------------
As at December 31, 2001
   under CDN GAAP                          $ (726.0)     $ 945.7       $  -

Recognition of deferred
   exchange  gains on
   convertible debentures (a)                  20.2          -            -

Elimination of the effects of
   recognition of the equity
   component of convertible
   debentures (a)                              10.4          -            -

Additional  write-down of
   property, plant and
   equipment under U.S.
   GAAP (b)                                   (60.5)         -            -

Reduction in depreciation,
   depletion and amortization
   under U.S. GAAP (b)                         17.9          -            -

Reversal of  1991 deficit
   elimination (c)                             (5.3)         5.3          -

Unrealized gains on marketable
   securities and long-term
   investments (d)                               -           -           4.9

Adoption of SFAS 133 (e)                       (3.9)         -           8.9

Premium on flow-through
     shares issued (f)                           -          (1.1)         -
- --------------------------------------------------------------------------------
As at December 31, 2001
     under U.S. GAAP                        $(747.2)     $ 949.9       $13.8
================================================================================

<PAGE>

<TABLE>
<CAPTION>


Consolidated balance sheets:

- ------------------------------------------------------------------------------------------------------------------------------------
                                                         Deferred            Debt       Equity
                                             Property,    charges       component     component                 Common         Other
                                 Long-term   plant and  and other  of convertible  of convertible                share comprehensive
                               investments   equipment     assets      debentures     debentures    Deficit    capital        income
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                           <C>          <C>         <C>        <C>             <C>             <C>         <C>          <C>
As at December 31, 2000
 under CDN GAAP                $   14.4     $  505.6    $  23.7    $  33.4         $  117.0        $ (681.4)   $ 913.2      $    -

Recognition of deferred
 exchange gains
 on convertible debentures (a)       -            -          -          -             (12.4)           12.4         -            -

Elimination of the  effects of
 recognition of the equity
 component of convertible
 debentures (a)                       -           -         0.7       97.0           (104.6)            8.3         -            -

Additional write-down of
 property, plant
 and equipment under U.S.
 GAAP (b)                             -       (60.5)         -          -                -            (60.5)        -            -

Reduction in depreciation,
 depletion and amortization
 under U.S. GAAP (b)                  -        11.8          -          -                -             11.8         -            -

Reversal of 1991 deficit
 elimination (c)                      -          -           -          -                -             (5.3)       5.3           -

Unrealized gains on
 long-term investments (d)           0.4         -           -          -                -               -          -           0.4
- ------------------------------------------------------------------------------------------------------------------------------------
As at December 31, 2000
 under U.S. GAAP               $    14.8    $  456.9     $  24.4     $ 130.4       $     -          $ (714.7)  $ 918.5      $   0.4
====================================================================================================================================
</TABLE>

<TABLE>
<CAPTION>


Consolidated Statements of Operations
- ------------------------------------------------------------------------------------------------------------------------
                                                                                   2001           2000           1999
- ------------------------------------------------------------------------------------------------------------------------
<S>                                                                       <C>
Net loss for the year under CDN GAAP                                           $  (36.9)     $  (126.1)     $  (240.7)

Adjustments:
Write-down of property, plant and equipment under U.S. GAAP (b)                       -            3.9           20.5
Reduction in depreciation, depletion and amortization under U.S. GAAP (b)           6.1            7.7            4.1
Increase in convertible debenture interest (a)                                     (4.1)          (4.9)          (4.4)
Recognition of exchange gains (losses) on convertible  debentures (a)               6.3            5.7           (8.0)
Adoption of SFAS 133 (e)                                                           (3.9)             -              -
Other                                                                                 -              -             0.2
- ------------------------------------------------------------------------------------------------------------------------
Net loss for the year under U.S. GAAP                                          $  (32.5)     $  (113.7)     $   (228.3)
========================================================================================================================
Basic loss per common share under U.S. GAAP                                    $  (0.10)     $   (0.38)     $    (0.76)
Diluted loss per common share under U.S. GAAP                                       n/a            n/a             n/a
Effect of U.S. GAAP adjustments on basic loss per common share                 $   0.04      $    0.07      $     0.07
</TABLE>


Statement of Operations Presentation: Under U.S. GAAP, the measure "loss before
the undernoted" is not a recognized term and would therefore not be presented.
"Loss before the undernoted" when adjusted to include "write-down of property,
plant and equipment" and to exclude "interest and other income" is comparable to
the terminology "loss from operations" under U.S. GAAP.

<PAGE>

The following table reconciles "loss before the undernoted" to "loss from
operations".

<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------
                                                                             2001         2000          1999
- ------------------------------------------------------------------------------------------------------------------
<S>                                                                      <C>          <C>          <C>
Loss before the undernoted as presented under CDN GAAP                   $   (1.6)    $  (15.3)    $   (25.6)
Deduct:
Write-down of property, plant and equipment                                 (16.1)       (72.1)        (184.9)
Interest and other income                                                   (12.8)       (18.3)         (13.0)
- ------------------------------------------------------------------------------------------------------------------
Loss from operations as presented under U.S. GAAP                        $  (30.5)    $ (105.7)    $   (223.5)
==================================================================================================================
</TABLE>

Consolidated Statements of Cash Flows: Under U.S. GAAP, the reduction of the
debt component of convertible debentures is treated as interest expense.
Accordingly, the consolidated statements of cash flows under U.S. GAAP, would
require a decrease in cash flows provided by operating activities with a
corresponding decrease to cash flow used in financing activities of $5.4
million, $4.9 million and $4.4 million in 2001, 2000, and 1999, respectively.

Consolidated Statements of Comprehensive Loss: The Company's statements of
comprehensive loss under U.S. GAAP are as follows:

<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
                                                                                                   2001         2000         1999
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                                                                                            <C>          <C>          <C>
Net loss for the year under U.S. GAAP                                                          $  (32.5)    $ (113.7)    $ (228.3)
Change in currency translation adjustments                                                         (5.6)        (4.3)         9.2
Change in unrealized (losses) gains on marketable securities and long-term investments (d)          4.5         (0.7)         3.3
Adoption of FSAS 133 (e)                                                                            8.9            -            -
- ------------------------------------------------------------------------------------------------------------------------------------
Comprehensive loss under U.S. GAAP                                                             $  (24.7)    $ (118.7)    $ (215.8)
====================================================================================================================================
</TABLE>

(a)  Under CDN GAAP, the convertible debentures described in Note 11 are
     accounted for in accordance with their substance and, as such, are
     presented in the financial statements in their liability and equity
     component parts. Under U.S. GAAP, the entire principal amount of the
     convertible debentures is treated as debt with interest expense based on
     the coupon rate of 5.5%.

In addition, under CDN GAAP, the unrealized foreign exchange gains on the CDN
dollar denominated debentures (see Note 11) are deferred and amortized over the
term of the debentures. Effective January 1, 2002, CDN GAAP will no longer
premit the deferral of unrealized foreign exchange gains and losses on the debt
component of the debentures. Under U.S. GAAP, these gains are recognized in
income currently along with exchange gains related to the portion of the
convertible debentures included in equity under CDN GAAP.

(b)  Following an evaluation of the Company's property, plant and equipment on
     the basis set out in Notes 1 and 15, there would be a reduction in the loss
     in 2001, 2000 and 1999 of $nil, $3.9 million and $20.5 million,
     respectively. These differences arise from the requirement to discount
     future cash flows from impaired properties under U.S. GAAP and from using
     proven and probable reserves only. Under CDN GAAP, future cash flows from
     impaired properties are not discounted. Under U.S. GAAP, depreciation,
     depletion and amortization would be reduced by $6.1 million, $7.7 million
     and $4.1 million during 2001, 2000 and 1999, respectively.

(c)  CDN GAAP allows for the elimination of operating deficits by the reduction
     of stated capital attributable to common shares with a corresponding offset
     to the accumulated deficit. This reclassification is not permitted by U.S.
     GAAP and would require in each subsequent year an increase in share capital
     and a reduction in deficit of $5.3 million.

(d)  Under CDN GAAP, unrealized gains (losses) on long-term investments and
     marketable securities are not recorded. Under U.S. GAAP, unrealized gains
     (losses) on long-term investments and marketable securities are charged to
     comprehensive loss in the current period.

<PAGE>

(e)  Under CDN GAAP, derivatives hedging forecasted transactions are off-balance
     sheet until the hedged transaction is recorded. Realized gains and losses
     on derivatives that are closed out early are initially recorded as deferred
     revenue or deferred charges and are recorded as an adjustment to net loss
     when the original hedged transaction is recorded.

On January 1, 2001 the Company adopted FASB Statement No. 133, "Accounting for
Derivative Instruments and Hedging Activities" (SFAS 133), and the corresponding
amendments under FASB Statement No. 138 (SFAS 138). FAS 133 requires that all
derivative financial instruments be recognized in the financial statements and
measured at fair value regardless of the purpose or intent for holding them.
Changes in the fair value of derivative financial instruments are either
recognized periodically in income or shareholders' equity (as a component of
other comprehensive income), depending on whether the derivative is being used
to hedge changes in fair value or cash flows. SFAS 138 amends certain provisions
of SFAS 133 to clarify four areas causing difficulties in implementation.

For derivatives designated as cash flow hedges, the effective portions of
changes in fair value of the derivative are reported in other comprehensive
income and are subsequently reclassified into other income when the hedged item
affects other income. Changes in fair value of the derivative instruments used
as economic instruments and ineffective portions of hedges are recognized in
other income in the period incurred.

The adoption of SFAS 133 resulted in a cumulative decrease in deferred revenue
of $9.6 million, a cumulative increase in other long-term liabilities of $4.6
million, a cumulative increase in net loss of $3.9 million, and a cumulative
increase in other comprehensive income of $8.9 million for the year ended
December 31, 2001. On adoption of SFAS 133, the Company did not complete the
required designation and effectiveness assessments to achieve hedge accounting
for the commodity derivatives hedging gold revenues and energy price risk,
although the contracts are considered to be effective economic hedges and they
were accounted for as hedges for CDN GAAP purposes. For U.S. GAAP only, these
derivatives were carried at fair value with the changes in fair value recorded
as an adjustment to net loss. Realized and unrealized derivatives gains and
losses included in OCI on transition and during the year are reclassified into
mining revenue for cash-flow hedges of forecasted commodity sales and foreign
exchange (loss) gain for forecasted foreign currency revenues or expenses when
the hedged forecasted revenue or expense is recorded. During the twelve months
ended December 31, 2001, $11.6 million of derivative gains were reclassified out
of other comprehensive income. The Company estimates that $5.6 million of net
derivatives gains included in other comprehensive income will be reclassified
into earnings within the next twelve months. There was no ineffectiveness
recorded during the year.

The effect of the transition adjustment as of January 1, 2001, was an increase
in assets of $10.7 million, a decrease in deferred revenue of $10.1 million, an
increase in other long-term liabilities of $0.3 million, and an increase in
other comprehensive income of $20.5 million.

(f)  Under Canadian income tax legislation, a company is permitted to issue
     shares whereby the company agrees to incur qualifying expenditures and
     renounce the related income tax deductions to the investors. The Company
     has accounted for the issue of flow-through shares using the deferral
     method in accordance with CDN GAAP. At the time of issue the funds received
     are recorded as share capital. Once the qualifying expenditures are made,
     exploration expenses and common share capital are reduced by the amount of
     the premium received in excess of the market value for the flow-through
     shares.

For U.S. GAAP, the premium paid in excess of the market value is credited to
other liabilities and included in income over the period in which the Company
incurs the qualified expenditures.

Also, notwithstanding whether there is a specific requirement to segregate the
funds, the flow-through funds which are unexpended at the Consolidated Balance
Sheet dates are considered to be restricted and are not considered to be cash or
cash equivalents under U.S. GAAP.

As at December 31, 2001, unexpended flow-through funds were $4.6 million.

<PAGE>

For purposes of this U.S. GAAP reconciliation, the Company does not recognize
compensation expense for its stock-based compensation plans. Had compensation
expense for the stock option plans been determined based upon fair value at the
grant date for awards under these plans consistent with the methodology
prescribed under SFAS No. 123, "Accounting for Stock-Based Compensation", the
Company's net loss and loss per share under U.S. GAAP would have been increased
by approximately $1.1 million or $NIL per share in 2001, $2.4 million or $0.01
share in 2000, and $3.0 million or $0.01 per share in 1999. The fair value of
the options granted during 2001, 2000 and 1999 is estimated to be $1.1 million,
$2.4 million and $3.0 million, respectively. The fair value of each option grant
is estimated on the date of grant using the Black-Scholes option-pricing model
with the following weighted-average assumptions used for grants in 2001, 2000
and 1999: dividend yield of 0%; expected volatility of 61%, 57% and 57%,
respectively and an expected life of five years.

Recent accounting pronouncements In June 2001, the FASB issued Statement No.
141, "Business Combinations" (SFAS 141), which supersedes APB Opinion No. 16,
Business Combinations, and SFAS 38, Accounting for Preacquisition Contingencies
of Purchased Enterprises. Concurrently, the Accounting Standards Board of Canada
issued Handbook Section 1581, "Business Combinations", which is consistent with
SFAS 141. Those Statements will change the accounting for business combinations
and goodwill. SFAS 141 and CICA Handbook Section 1581 require that the purchase
method of accounting be used for all business combinations initiated after June
30, 2001. Use of the pooling-of-interests method is no longer permitted. These
Statements also establish criteria for separate recognition of intangible assets
acquired in a purchase business combination. These Statements also apply to all
business combinations accounted for using the purchase method for which the date
of acquisition is July 1, 2001, or later.

In June 2001, the FASB issued Statement No. 142, "Goodwill and Other Intangible
Assets" (SFAS 142), which supersedes APB Opinion No. 17, Intangible Assets.
Concurrently, the Accounting Standards Board of Canada issued Handbook Section
3062, "Goodwill and Other Intangible Assets", which is consistent with SFAS 142.
These Statements require that goodwill no longer be amortized to earnings, but
instead be reviewed for impairment. The Statements are effective for fiscal
years beginning after December 15, 2001, and are required to be applied at the
beginning of an entity's fiscal year and to be applied to all goodwill and other
intangible assets recognized in its financial statements at that date.

Impairment losses for goodwill and indefinite-lived intangible assets that arise
due to the initial applicable of these Statements (resulting from a transitional
impairment test) are to be reported as resulting from a change in accounting
principle. Under an exception to the date at which these Statements become
effective: goodwill and intangible assets acquired after June 30, 2001, will be
subject immediately to the non-amortization and amortization provisions of these
Statements. The Company has not yet determined the impact, if any, of these
Statements on its financial statements.

In June 2001, the FASB issued Statement No. 143, "Accounting for Asset
Retirement Obligations" (SFAS 143), which addresses financial accounting and
reporting for obligations associated with the retirement of tangible long-lived
assets and the associated asset retirement costs. It applies to legal
obligations associated with the retirement of long-lived assets that result from
the acquisition, construction, development and (or) the normal operation of a
long-lived asset, except for certain obligations of lessees. SFAS 143 amends
SFAS 19, "Financial Accounting and Reporting by Oil and Gas Producing
Companies", and requires entities to record the fair value of a liability for an
asset retirement obligation in the period in which it is incurred. When the
liability is initially recorded, an entity capitalizes the cost by increasing
the carrying amount of the related long-lived assets. Over time, the liability
is accreted to its present value each period, and the capitalized cost is
amortized over the useful life of the related asset. Upon settlement of the
liability, an entity either settles the obligation for its recorded amount or
incurs a gain or loss upon settlement. SFAS 143 is effective for financial
statements issued for fiscal years beginning after June 15, 2002 with earlier
application encouraged. The Company has not yet determined the impact of this
Statement on its financial statements.

<PAGE>

In October 2001, the FASB issued Statement No. 144, "Accounting for the
Impairment on Disposal of Long-lived Assets" (SFAS 144), which supersedes SFAS
121, Accounting for the Impairment of Long-lived Assets and for Long-lived Asets
to be Disposed of. SFAS 144 applies to all long-lived assets (including
discontinued operations) and consequently amends APB Opinion No. 30, Reporting
Results of Operations - Reporting the Effects of Disposal of a Segment of a
Business. SFAS 144 requires that long-lived assets that are to be disposed of by
sale be measured at the lower of book value or fair value less cost to sell.
That requirement eliminates APB 30's requirement that discontinued operations be
measured at net realizable value or that entities include under "discontinued
operations" in the financial statements amounts for operating losses that have
not yet occurred. Additionally, SFAS 144 expands the scope of discontinued
operations to include all components of an entity with operations that (1) can
be distinguished from the rest of the entity and (2) will be eliminated from the
ongoing operations of the entity in a disposal transaction. SFAS 144 is
effective for financial statements issued for fiscal years beginning after
December 15, 2001, and, generally, its provisions are to be applied
prospectively. The Company has not yet determined the impact of this Statement
on its financial statements.

21.  Contingencies and Related Commitments

The Company is subject to the considerations and risks of operating in Russia as
a result of its 54.7% ownership of the Kubaka mine located in Far Eastern
Russia. The economy of the Russian Federation continues to display
characteristics of an emerging market. These characteristics include, but are
not limited to, the existence of a currency that is not freely convertible
outside of the country, extensive currency controls and high inflation. The
prospects for future economic stability in the Russian Federation are largely
dependent upon the effectiveness of economic measures undertaken by the
government, together with legal, regulatory, and political developments.

Russian tax legislation is subject to varying interpretations and frequent
changes. Further, the interpretation of tax legislation by tax authorities as
applied to the transactions and activities of the Company may not coincide with
that of management. As a result, transactions may be challenged by tax
authorities and the Company may be assessed additional taxes, penalties and
interest, which can be significant. The fiscal periods remain open to review for
three years by the tax and customs authorities with respect to tax liabilities.

The Company conducts business in Russia through its subsidiary, Omolon which is
owned 45.3% by Russian shareholders. An assignee of one of the Russian
shareholders has asserted that the original issuance of shares to the
shareholder was flawed due to failure to follow certain registration procedures.
As a result the assignee claims the share issuance was null and void and
therefore it should have its money returned with compound interest. The total
claim is for approximately $43.0 million. The Company has been advised by its
counsel that Omolon has good defences available to it on the merits and that
such counsel is confident that Omolon will successfully defend the lawsuit.
However, the interpretation and application of the laws of the Russian Republic
may be subject to policy changes reflecting domestic political changes or other
considerations. Moreover, because of the developing nature of the Russian legal
system and the fact that the interpretation and application of many laws are
untested, it is difficult to predict with certainty how they may be interpreted
and applied in a particular case. As a consequence, other or additional
penalties or remedies may be imposed. These remedies may, in addition to
imposing financial obligations, otherwise adversely affect the operations or
status of Omolon.

The Company's 50% owned Chilean mining company Compania Minera Maricunga ("CMM")
has entered into arbitration proceedings in Chile with the contractor that
designed and built the mine. CMM contends that the contractor was negligent in
both the design and the construction of the facility, and should be held
responsible for the cost of repairs as well as lost profits. As part of the same
proceedings, the contractor is seeking to recover costs that they allegedly
incurred while building the mine and which, they claim, were outside their scope
of work and responsibility. Although the outcome of the arbitration proceedings
cannot be determined at the current time, management is of the opinion that the
outcome will not have a material adverse affect on the financial position,
results of operations or cash flows of the Company.

<PAGE>

The Company's 100% owned Chilean mining company, Compania Minera Kinam Guanaco
("CMKG") has received a tax reassessment from the Chilean IRS. The reassessment
is for $6.7 million disallowing certain deductions utilized by a third party.
The Company believes this reassessment will be resolved with no material adverse
affect to the financial position, results of operations or cash flows of the
Company. In addition, the Company has been idemnified by the third party for an
amount in excess of the claim.

In accordance with standard industry practice, the Company seeks to obtain
bonding and other insurance in respect of its liability for costs associated
with the reclamation of mine, mill and other sites used in its operations and
against other environmental liabilities, including liabilities imposed by
statute. Due to recent developments which have affected the insurance and
bonding markets worldwide, such bonding and/or insurance may be difficult or
impossible to obtain in the future or may only be available at significant
additional cost. In the event that such bonding and/or insurance cannot be
obtained by the Company or is obtainable only at significant additional cost,
the Company may become subject to financial liabilities which may affect its
financial resources.

The Company is also involved in legal proceedings and claims which arise in the
ordinary course of its business. The Company believes these claims are without
merit and is vigorously defending them. In the opinion of management, the amount
of ultimate liability with respect to these actions will not materially affect
the financial position, results of operations or cash flows of the Company.

The Company's mining and exploration activities are subject to various federal,
provincial and state laws and regulations governing the protection of the
environment. These laws and regulations are continualty changing and generally
becoming more restrictive. The Company conducts its operations so as to protect
public health and the environment and believes its operations are materially in
compliance with all applicable laws and regulations. The Company has made, and
expects to make in the future, expenditures to comply with such laws and
regulations.

22.  Subsequent Events

On February 4, 2002, the Company announced a cash tender offer to purchase up to
894,600 Kinam Preferred Shares which it does not already own for $16.00 per
share. If all of the non-controlling shares are acquired the Company would pay
$14.3 million in cash.

On February 12, 2002, the Company issued 23,000,000 common shares from treasury
for gross proceeds, before costs of the issue of $19.5 million. A portion of the
proceeds of this offering will be used to finance the acquisition of the Kinam
Preferred Shares owned by the non-controlling shareholders.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>kin6kex99b.txt
<DESCRIPTION>EXHIBIT 99B
<TEXT>


                                                                     EXHIBIT 99b

                            KINROSS GOLD CORPORATION

                NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS



         NOTICE is hereby given that the Annual General  Meeting (the "Meeting")
of shareholders of KINROSS GOLD CORPORATION (the  "Corporation") will be held at
the Design Exchange, 234 Bay Street, Toronto, Ontario on Tuesday, April 30, 2002
at 4:30 p.m. (Toronto time), for the following purposes:

1.       To  receive  the  audited  consolidated  financial  statements  of  the
         Corporation for the fiscal year ended December 31, 2001,  together with
         the auditors' reports therein;

2.       To elect directors of the Corporation;

3.       To appoint Deloitte & Touche LLP, Chartered Accountants, as auditors of
         the Corporation and to authorize the directors to fix the  remuneration
         to be paid to the auditors;

4.       To transact such other business as may properly come before the Meeting
         or any adjournment thereof.

         The accompanying  management  information  circular provides additional
information  relating  to the  matters to be dealt with at the Meeting and forms
part of this Notice of Meeting.

         If you are not able to be present at the Meeting,  please exercise your
right  to  vote  by  signing  and  returning  the  enclosed  form  of  proxy  to
Computershare  Trust  Company of Canada,  100  University  Avenue,  11th  Floor,
Toronto,  Ontario  M5J 2Y1,  so as to arrive not later  than 4:30 p.m.  (Toronto
time) on the  second  business  day  preceding  the date of the  Meeting  or any
adjournment thereof.



                                   BY ORDER OF THE BOARD
                                   (Signed) Shelley M. Riley
                                   Corporate Secretary

Toronto, Ontario
March 22, 2002




<PAGE>


                            KINROSS GOLD CORPORATION
                            52nd Floor, Scotia Plaza
                                40 King St. West
                                Toronto, Ontario
                                     M5H 3Y2

                         MANAGEMENT INFORMATION CIRCULAR

                             SOLICITATION OF PROXIES


         The information contained in this management  information circular (the
"Circular") is furnished in connection  with the  solicitation  of proxies to be
used at the annual  and  special  meeting of  shareholders  (the  "Meeting")  of
Kinross Gold Corporation (the  "Corporation") to be held at the Design Exchange,
234 Bay Street,  Toronto,  Ontario at 4:30 p.m. (Toronto time) on Tuesday, April
30,  2002  or any  adjournment  thereof,  for  the  purposes  set  forth  in the
accompanying  Notice of Meeting.  It is expected that the  solicitation  will be
made  primarily  by mail but the proxies  may also be  solicited  personally  by
directors, officers or regular employees of the Corporation. The solicitation of
proxies by this Circular is being made by or on behalf of the  management of the
Corporation.   The  total  cost  of  the  solicitation  will  be  borne  by  the
Corporation.


                      Appointment and Revocation of Proxies

         The  persons  named in the  enclosed  form of proxy  accompanying  this
Circular are directors and/or officers of the Corporation.  A shareholder of the
Corporation  has the right to appoint a person other than the persons  specified
on such form of proxy and who need not be a shareholder  of the  Corporation  to
attend  and act for him and on his  behalf at the  Meeting.  Such  rights may be
exercised  by  striking  out the names of the persons  specified  in the form of
proxy,  inserting  the name of the  person to be  appointed  in the blank  space
provided in the form of proxy, signing the form of proxy and returning it in the
reply envelope in the manner set forth in the accompanying Notice of Meeting.

         A  shareholder  who has given a proxy may revoke it by an instrument in
writing,  including  another  completed  form of proxy,  executed  by him or his
attorney  authorized  in  writing,  deposited  at the  registered  office of the
Corporation,  or at the offices of  Computershare  Trust Company of Canada,  100
University Avenue, 11th Floor, Toronto, Ontario M5J 2Y1 up to 4:30 p.m. (Toronto
time) on the business day preceding the date of the Meeting,  or any adjournment
thereof,  and with the Chairman of the Meeting prior to the  commencement of the
Meeting  on the day of the  Meeting or any  adjournment  thereof or in any other
manner permitted by law.


                          Voting of Shares Represented
                              by management Proxies

         The  person  named in the  enclosed  form of proxy will vote the common
shares of the  Corporation  (the  "Common  Shares") in respect of which they are
appointed by proxy on any ballot that may be called for in  accordance  with the
instructions  therein. In the absence of such specification,  such Common Shares
will be voted in favour of each of the matters referred to herein.

         The enclosed form of proxy  confers  discretionary  authority  upon the
persons  named  therein with respect to  amendments  to or variations of matters
identified in the Notice of Meeting and with respect to other  matters,  if any,
which may properly come before the Meeting.  At the date of this  Circular,  the




<PAGE>


                                       -2-


management of the Corporation  knows of no such amendments,  variations or other
matters to come before the Meeting.  However, if any other matters which are not
known to management  should properly come before the Meeting,  the proxy will be
voted on such matters in accordance with the best judgment of the named proxy.


                         Voting Securities and principal
                                 Holders Thereof

         As at the date hereof,  the Corporation  had 357,862,955  Common Shares
issued and outstanding, each carrying one vote. Each holder of a Common Share of
record at the close of business on March 21, 2002,  the record date  established
for notice of the meeting,  will, unless otherwise specified herein, be entitled
to one vote for each Common Share held by such holder on all matters proposed to
come before the Meeting,  except to the extent that such holder has  transferred
any such  shares  after  the  record  date  and the  transferee  of such  shares
establishes ownership thereof and makes a written demand, not later than 10 days
before the Meeting, to be included in the list of shareholders  entitled to vote
at the  Meeting,  in which case the  transferee  will be  entitled  to vote such
shares at the Meeting.

         As at the date hereof to the  knowledge of the directors or officers of
the  Corporation,   there  are  no  persons  beneficially  owning,  directly  or
indirectly, or exercising control or direction over, more than 10% of the issued
and outstanding Common Shares.

                                 DOLLAR FIGURES

         Unless expressly stated to the contrary,  all "$" figures  contained in
this Circular refer to United States dollars unless otherwise stated.

                              ELECTION OF DIRECTORS

         At the Meeting  seven  directors  will be  elected.  All  directors  so
elected will hold office until the next annual  meeting of  shareholders  of the
Corporation  or until their  successors  are elected or  appointed.  The persons
named in the enclosed form of proxy intend to cast the votes to which the Common
Shares  represented  by such proxy are entitled for the election of the nominees
whose names are set forth below, unless the shareholder who has given such proxy
has  directed  that the  shares  be  withheld  from  voting in the  election  of
directors.  Management of the Corporation  does not contemplate  that any of the
nominees will be unable to serve as a director, but if that should occur for any
reason at or prior to the Meeting,  the persons  named in the  enclosed  form of
proxy reserve the right to vote for another nominee in their discretion.

         The following table sets forth certain  information with respect to all
persons proposed to be nominated by management for election as directors.

<TABLE>
<CAPTION>
====================== =================== ================= =============== ================== ========================
Name  and   Place  of  Principal            Director Since    Common Shares        Current        Meetings Attended (3)
Residence              Occupation                                Owned,        Committees (3)
                                                              Controlled or
                                                              Directed (1)
- ---------------------- ------------------- ----------------- --------------- ------------------ ------------------------
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------
                                                                                                Board       Committees
                                                                                                (Total 6)
<S>                    <C>                 <C>               <C>             <C>                <C>         <C>
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------

John A. Brough         President,          January 19, 1994       3,500             A, C         6 of 6      A - 4 of 4
Vero Beach, FL         Torwest Inc.
                       (real estate
                       development
                       company)                                                                              C - 2 of 2
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------

Robert M. Buchan (2)   Chairman and        May 31, 1993          401,368            None         6 of 6
Toronto, ON            Chief Executive
                       Officer of the
                       Corporation
====================== =================== ================= =============== ================== =========== ============
</TABLE>




<PAGE>


                                       -3-

<TABLE>
<CAPTION>
====================== =================== ================= =============== ================== ========================
Name  and   Place  of  Principal            Director Since    Common Shares        Current        Meetings Attended (3)
Residence              Occupation                                Owned,        Committees (3)
                                                              Controlled or
                                                              Directed (1)
- ---------------------- ------------------- ----------------- --------------- ------------------ ------------------------
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------
                                                                                                Board       Committees
                                                                                                (Total 6)
<S>                    <C>                 <C>               <C>             <C>                <C>         <C>
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------

Arthur H. Ditto        President and       May 31, 1993          526,893            None         6 of 6
Toronto, ON            Chief Operating
                       Officer of the
                       Corporation
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------

John A. Keyes          Retired Mining      November 7, 2001       5,000             E, CG        1 of 1
The Woodlands, TX      Executive
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------

John M.H. Huxley       Principal,          May 31, 1993          124,811            A, C         5 of 6      A - 4 of 4
Toronto, ON            Algonquin Power
                       Corporation Inc.
                       (power company)                                                                       C - 2 of 2
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------

John E. Oliver (4)     Executive           March 7, 1995         22,080           C, CG, E       6 of 6      C - 2 of 2
San Francisco, CA      Managing Director
                       and Co-Head
                       Scotia Capital                                                                        CG - 2 of 2
                       U.S., Bank  of
                       Nova Scotia
                       (financial                                                                            E - 2 of 2
                       institution)
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------
- ---------------------- ------------------- ----------------- --------------- ------------------ ----------- ------------

Cameron A. Mingay      Partner, Cassels    January 12, 2001       5,000           A, CG, E       6 of 6      A - 3 of 3
Toronto, ON            Brock & Blackwell
                       LLP (law firm)
                                                                                                             CG - 2 of 2


                                                                                                             E - 2 of 2
====================== =================== ================= =============== ================== =========== ============
</TABLE>

(1)  Information respecting holdings of Common Shares has been provided by
     individual directors.
(2)  Mr. Buchan also holds 384,613 convertible preferred shares of the
     Corporation which are convertible into 3,175,173 Common Shares.

(3)  Committees: A-Audit, C-Compensation, CG-Corporate Governance,
     E-Environmental.
     (a)  The attendance record of Mr. Bruce E. Grewcock, who resigned at
          December 31, 2001, is as follows: 5 of 6 Board Meetings and 6 of 6
          Committee Meetings.
     (b)  Mr. John A. Keyes was elected as a member of the board and appointed a
          member of the Environmental Committee on November 7, 2001 and
          subsequently appointed as a member of the Corporate Governance
          Committee on February 13, 2002.
(4)  Mr. Oliver was appointed as Independent Board Leader on February 13, 2002.

         Each of the  directors  has held the  principal  occupation  set  forth
opposite  his  name,  or other  executive  offices  with  the  same  firm or its
affiliates,  for the past five  years,  with the  exception  of Messrs.  John A.
Brough, Cameron A. Mingay and John A. Keyes. Mr. Brough, prior to February 1998,
was Executive Vice President and Chief Financial Officer of iStar Internet Inc.,
Mr.  Mingay,  prior to June,  1999 was a Partner with Smith Lyons and Mr. Keyes,
prior to  January,  2001 was  President  and Chief  Operating  Officer of Battle
Mountain  Gold and prior  thereto was Senior Vice  President of Battle  Mountain
Gold.

         The  persons  named in the  enclosed  form of proxy  intend to cast the
votes to which the Common Shares represented by such proxy are entitled, for the
election of the nominees whose name are set forth above,  unless the shareholder
who has given such proxy has directed  that the Common  Shares be withheld  from
voting in the election of  directors.  Management  of the  Corporation  does not
contemplate  that their  nominees will be unable to serve as  directors,  but if
that should occur for any reason at or prior to the Meeting,  the persons  named
in the enclosed form of proxy reserve the right to vote for another  nominees in
their discretion.




<PAGE>


                                       -4-


                             APPOINTMENT OF AUDITORS

         Deloitte & Touche LLP, independent  chartered public accountants,  were
first appointed auditors of the Corporation on May 31, 1993.

         The Board of  Directors of the  Corporation  proposes  that  Deloitte &
Touche LLP be appointed as the Corporation's  independent  auditors for the year
ended December 31, 2002, and that the  Corporation's  directors be authorized to
fix their  remuneration.  A  majority  of the votes,  voted by the  shareholders
represented at the Meeting,  is required for approval of the  appointment of the
Corporation's auditors.

         Unless the shareholder has specified in the enclosed form of proxy that
shares  represented  by  such  proxy  are  to be  withheld  from  voting  in the
appointment of auditors,  the persons named in the enclosed form of proxy intend
to vote in favour of the  reappointment of Deloitte & Touche LLP, as auditors of
the  Corporation to hold office until the next annual  meeting of  shareholders,
and to authorize the directors to fix the remuneration of the auditors.


                             Executive Compensation

         The  following  table  (presented  in  accordance  with  Form 40 of the
Regulation (the "Regulation") made under the Securities Act (Ontario) sets forth
all annual and  long-term  compensation  for services in all  capacities  to the
Corporation and its subsidiaries for the fiscal year ended December 31, 2001 (to
the extent required by the Regulation) in respect of each of the individuals who
were,  at December 31,  2001,  the Chief  Executive  Officer and the four senior
executive  officers,  whose total salary exceeded $100,000 (the "Named Executive
Officers").

Summary Compensation Table

<TABLE>
<CAPTION>
============================= ================================ ============================== ===================
                                            Annual                 Long Term Compensation           All other
                                                                                                  Compensation
                              ------ ----------- ------------- ---------------- -------------
 Name and Principal Position   Year    Salary        Bonus       Common Share     Restricted
                                          $            $        Options Granted     Shares
                                                                       #            Rights
                                                                                   Granted
                                                                                      #
- ----------------------------- ------ ----------- ------------- ---------------- ------------- -------------------
<S>                           <C>    <C>         <C>           <C>              <C>           <C>
Robert M. Buchan               2001    387,360      64,560(2)        200,000          -              52,534
Chairman and CEO               2000    403,932         -           1,000,000          -              79,183
                               1999    403,850     146,194(3)       500,000           -              95,109

- ----------------------------- ------ ----------- ------------- ---------------- ------------- -------------------
Arthur H. Ditto                2001    228,421       32,900         125,000           -              23,398
President and COO              2000    232,183         -            435,000           -              43,380
                               1999    232,164       92,160         250,000           -              44,457

- ----------------------------- ------ ----------- ------------- ---------------- ------------- -------------------
John W. Ivany                  2001    193,680       64,560         80,000            -              22,055
Exec. Vice President           2000    185,135         -          280,000             -              21,933
                               1999    185,098       57,212         250,000           -              20,584

- ----------------------------- ------ ----------- ------------- ---------------- ------------- -------------------
Scott A. Caldwell              2001    172,892       63,527         80,000            -             35,341(4)
Senior Vice-President          2000    175,037       26,929         100,000         72,000           17,371
Mining Operations              1999    175,002       40,385         250,000           -              25,638

============================= ================================ ============================== ===================
</TABLE>




<PAGE>


                                       -5-

<TABLE>
<CAPTION>
============================= ================================ ============================== ===================
                                            Annual                 Long Term Compensation           All other
                                                                                                  Compensation
                              ------ ----------- ------------- ---------------- -------------
 Name and Principal Position   Year    Salary        Bonus       Common Share     Restricted
                                          $            $        Options Granted     Shares
                                                                       #            Rights
                                                                                   Granted
                                                                                      #
- ----------------------------- ------ ----------- ------------- ---------------- ------------- -------------------
<S>                           <C>    <C>         <C>           <C>              <C>           <C>
Brian W. Penny                 2001    159,592       47,904         70,000            -             30,613(4)
Vice President Finance and     2000    161,573       16,830         110,000         28,000           13,775
CFO                            1999    161,540       29,616         100,000           -              15,186

============================= ====== =========== ============= ================ ============= ===================
</TABLE>
(1)  Compensation, which is paid in Canadian dollars, is reported in the
     financial statements in United States dollars. The rates of exchange used
     to convert Canadian dollars to United States dollars are: 1999 - 1.4857,
     2000 - 1.4854, 2001 - 1.5489
(2)  Paid in January, 2002.
(3)  This amount represents bonus for 1999 of which $63,943 was paid in 1999 and
     $82,251 was paid in 2000.
(4)  Included in all other compensation is the value of the common stock
     received under the restricted share rights granted in 2000.


For the period January 1 to December 31, 2001, the five senior executives of the
Corporation received salaries, bonuses and other compensation totalling
$1,579,337 in respect of services rendered to the Corporation and its
subsidiaries.

Option Grants in Last Fiscal Year

         The following table (presented in accordance with Form 40 of the
Regulation) sets forth stock options granted under the Corporation's Stock
Option Plan during the fiscal year ended December 31, 2001 to each of the Named
Executive Officers.

         In the case of Messrs. Buchan and Ditto, the options become exercisable
as to 33 1/3% on each of the first, second and third anniversary of the date of
grant. In the case of Messrs. Ivany, Caldwell and Penny the options become
exercisable as to 50% on each of the first and second anniversary of the date of
grant. The exercise price of the option is the market value (as defined in the
Corporation's Share Incentive Plan) of the Common Shares on the date of grant.

                        Option Grants in Last Fiscal Year

<TABLE>
<CAPTION>
==================== ================ ================= ================== ==================== ================
        Name              Number              %              Average         Market Value on        Date of
                                                          Exercise Price        Grant (Cdn.          Expiry
                                                          (Cdn. $/Share)         $/Share)
- -------------------- ---------------- ----------------- ------------------ -------------------- ----------------
<S>                      <C>               <C>                 <C>                 <C>              <C>
Robert M. Buchan         200,000           14.03%              1.53                1.53             20/09/06
- -------------------- ---------------- ----------------- ------------------ -------------------- ----------------
Arthur H. Ditto          125,000            8.77%              1.53                1.53             20/09/06
- -------------------- ---------------- ----------------- ------------------ -------------------- ----------------
John W. Ivany             80,000            5.61%              1.53                1.53             20/09/06
- -------------------- ---------------- ----------------- ------------------ -------------------- ----------------
Scott A. Caldwell         80,000            5.61%              1.53                1.53             20/09/06
- -------------------- ---------------- ----------------- ------------------ -------------------- ----------------
Brian W. Penny            70,000            4.91%              1.53                1.53             20/09/06
==================== ================ ================= ================== ==================== ================
</TABLE>


Aggregated Option Exercises in Last Fiscal Year and Fiscal Year End Option
Values

         The  following  table  (presented  in  accordance  with  Form 40 of the
Regulation) sets forth details of exercised stock options during the fiscal year
ended December 31, 2001 by each of the Named  Executive  Officers and the fiscal
year end value of unexercised options on an aggregate basis.

               Aggregated Option Exercises in Last Fiscal Year and
                          Fiscal Year End Option Values




<PAGE>


                                       -6-

<TABLE>
<CAPTION>
===================== ============ ===================== ============================= ==========================
         Name            Common       Aggregate Value        Unexercised at Fiscal         Value of Unexercised
                         Shares       Realized ($)(1)               Year-End                     In-the-
                      Acquired on                          Exercisable/Unexercisable     Money Options at Fiscal
                        Exercise                                                                 Year-
                                                                                             End (Cdn$)(2)
                                                                                       Exercisable/Unexercisable
- --------------------- ------------ --------------------- ----------------------------- --------------------------
<S>                   <C>          <C>                   <C>                           <C>
Robert M. Buchan           -                 -                2,583,333/366,667                 90,000/0
- --------------------- ------------ --------------------- ----------------------------- --------------------------
Arthur H. Ditto            -                 -                1,151,666/208,334                 39,150/0
- --------------------- ------------ --------------------- ----------------------------- --------------------------
John W. Ivany              -                 -                  646,666/163,334                 25,200/0
- --------------------- ------------ --------------------- ----------------------------- --------------------------
Scott A. Caldwell          -                 -                  466,666/163,334                  9,000/0
- --------------------- ------------ --------------------- ----------------------------- --------------------------
Brian W. Penny             -                 -                  376,667/103,333                  9,900/0
===================== ============ ===================== ============================= ==========================
</TABLE>

(1)  Calculated using the closing price for a board lot of Common Shares on the
     TSE.
(2)  Value of unexercised-in-the-money options calculated using the closing
     price of Cdn. $1.19 of the Common Shares of the Corporation on the TSE on
     December 31, 2001, less the exercise price of in-the-money stock options.

Pension Plans

         Canada

         In 1997, the Corporation established a deferred profit sharing plan and
a registered retirement savings plan covering all of the Canadian  non-unionized
employees.  The deferred profit sharing plan provides for basic contributions by
the Corporation (which cannot be less than 4% of the member's compensation).  In
addition,   there  is  an  annual  profit  sharing  contribution  based  on  the
Corporation's financial performance. The Corporation contributed an aggregate of
$62,721 to the deferred  profit  sharing  plan on behalf of the Named  Executive
Officers during the year ended December 31, 2001.

         The   registered   retirement   savings   plan  is   available  to  all
non-unionized Canadian employees and allows for the minimum contribution of Cdn.
$60 per  month  with  the  Corporation  matching  100% of this  amount  with any
additional  contributions  being matched by 50% up to a maximum of Cdn. $30. The
Corporation  contributed  $2,788 to the  registered  retirement  savings plan on
behalf of each of  Messrs.  Buchan,  Caldwell,  Ivany and Penny  during the year
ended December 31, 2001.

         United States

         The Corporation's  subsidiary,  Kinross Gold U.S.A.,  Inc., has various
pension plans in which one  executive  officer is eligible to  participate.  The
Corporation  is required to make certain  contributions  to the pension plans on
behalf of Arthur H. Ditto.

         Employees are allowed to make  contributions to the 401(k) Savings Plan
from salary deductions each year subject to certain limitations. The Corporation
has in  past  years  made  matching  contributions  of 50%  of  each  employee's
contributions,  but subject to a maximum  contribution  of 3% of the  employee's
annual  compensation.  Employees  are  always  fully  vested in their own salary
deferral  contributions  and become fully vested (in 33 1/3%  increments) in any
contribution by the Corporation  after three years.  Participants are allowed to
direct the investment of their account  within a group of designated  investment
funds. The Corporation  contributed  $4,576 to the 401(k) Savings Plan on behalf
of Arthur H. Ditto during the year ended December 31, 2001.

         The Corporation  established a defined contribution money purchase plan
(the "Money Purchase Plan") in which  substantially  all of the employees in the
United States  participate.  The Money  Purchase Plan is funded  entirely by the
Corporation.  The Corporation  contributes 5% of the employees'  annual wages to
this plan. The Corporation is required to make  contributions  to this plan such
that no unfunded pension benefit obligations exist.  Participants are allowed to
direct the investment of the pension plan




<PAGE>


                                       -7-

account balances. The Corporation  contributed $8,676 to the Money Purchase Plan
on behalf of Arthur H. Ditto during the year ended December 31, 2001.

Employment Contracts

         The Corporation has entered into a severance agreement with each of the
Named  Executive  Officers.  Each of the  severance  agreements  provides  for a
severance  payment  equal to two (in the case of  Messrs.  Ivany,  Caldwell  and
Penny) or 2.5 (in the case of Messrs. Buchan and Ditto) multiplied by the sum of
the Named  Executive  Officer's  annual  compensation  (annual  base salary) and
target bonus. In the case of Messrs.  Buchan and Ditto, the severance payment is
paid to the  Named  Executive  Officer  following  a change  of  control  of the
Corporation,  at the  option  of the  Named  Executive  Officer.  In the case of
Messrs.  Ivany, Caldwell and Penny, the severance is paid to the Named Executive
Officer if a triggering event occurs following a change of control. A triggering
event includes:  (i) an adverse change in the employment terms of the executive,
(ii) a diminution of the title of the executive; (iii) a change in the person to
whom the executive reports (subject to certain exceptions); and (iv) a change in
the  location at which the  executive  is  required to work  (subject to certain
exceptions).  The  severance  amount is payable at the option of Messrs.  Ivany,
Caldwell and Penny  provided the exercise of such option occurs within 18 months
following the change of control and within six months of the triggering event.

         Other than as described above,  the Corporation (and its  subsidiaries)
have no compensatory  plans or arrangements  with respect to the Named Executive
Officers  that results or will result from the  resignation,  retirement  or any
other   termination  of  employment  of  such  officers'   employment  with  the
Corporation (and its subsidiaries),  from a change of control of the Corporation
(and  its   subsidiaries)   or  a  change  in  the  Named  Executive   Officers'
responsibilities following a change of control.

Directors and Officers' Insurance

         The Corporation has purchased an insurance  policy which covers actions
against its  directors and officers.  The policy covers  judgements  and defence
costs of up to $25,000,000 per lawsuit,  with a maximum  coverage of $25,000,000
per year.  The total premium paid for this policy for the period June 1, 2001 to
February 1, 2003 was $210,000.

Indebtedness of Directors/Executive Officers under the Stock Option Plan

         The    Corporation    has    provided    financial     assistance    to
directors/employees  in the past in  connection  with  the  Stock  Option  Plan.
Certain  executive  officers of the Corporation have received  assistance in the
form of loans  for a term of ten  years  (of  which  the  first  five  years are
interest-free)  for  repayment  of which they have  provided  or  undertaken  to
provide  security  to  the  Corporation  by way of a  charge  on all  securities
purchased  pursuant to the  Corporation's  Stock Option Plan with such financial
assistance.  In 2001, the Corporation  amended the Stock Option Plan by removing
the loan provision to directors/employees.

         The  following  table  (presented  in  accordance  with  Form 30 of the
Regulation)  sets forth the  indebtedness to, or guaranteed or supported by, the
Corporation or any of its  subsidiaries,  of each director,  executive  officer,
senior officer,  proposed  nominee for election as a director and each associate
of  any  such  director,   officer  or  proposed   nominee  in  respect  of  the
Corporation's Stock Option Plan.




<PAGE>


                  Indebtedness of Directors/Executive Officers
                           under the Stock Option Plan

<TABLE>
<CAPTION>
=========================== ============= ================ =================== ================= =================
Name of Principal Position   Involvement   Largest Amount         Amount            Fiscally        Security for
                               of the       Outstanding     Outstanding as at       Assisted        Indebtedness
                             Corporation       During         March 22, 2002       Securities     (No. of Shares)
                                             the Year           (Cdn. $)           Purchased
                                             (Cdn. $)                           During the Year
- --------------------------- ------------- ---------------- ------------------- ----------------- -----------------
<S>                         <C>           <C>              <C>                 <C>               <C>
Gordon A. McCreary              Lender         35,000             35,000             25,000            25,000
Vice President, Investor
Relations and Corporate
Development
- --------------------------- ------------- ---------------- ------------------- ----------------- -----------------
Shelley M. Riley                Lender         29,500             8,750              23,567            23,567
Corporate Secretary
=========================== ============= ================ =================== ================= =================
</TABLE>


Compensation of Directors

         Each director who is not a salaried  employee of the Corporation or any
of its  subsidiaries  is  paid  Cdn.$15,000  per  annum  for his  services  as a
director. Directors are also paid a fee of Cdn.$1,250 for attendance at meetings
of the Board of Directors of the Corporation. The remuneration provided above is
paid  quarterly in arrears.  In  addition,  such  directors  are entitled to the
reimbursement   of  their   expenses.   Additionally,   members  of  the  Audit,
Compensation, Corporate Governance and Environmental Committees receive a fee of
Cdn.$1,250  per meeting and the  Chairman of each of these  committees  receives
Cdn.$2,000 for acting in this capacity.

         Each director who is not a salaried  employee of the  Corporation  also
receives an initial  grant of stock  options  pursuant to the Stock  Option Plan
upon joining the board, the number of such options being determined by the Board
of Directors of the Corporation.

         In the year ended December 31, 2001, the following options were granted
to the non-executive  directors of the Corporation pursuant to the Corporation's
Stock Option Plan:

<TABLE>
<CAPTION>
==================== ================= ================== ================== ==================== ================
Name                   Date of Grant     Company Shares     Exercise Price     Market Value of       Expiration
                           D/M/Y         Under Options       (Cdn.$/Share)        Securities            D/M/Y
                                            Granted                               Underlying
                                                                              Options on Date of
                                                                                     Grant
                                                                                 (Cdn.$/Share)
- -------------------- ----------------- ------------------ ------------------ -------------------- ----------------
<S>                  <C>               <C>                <C>                <C>                  <C>
John A. Keyes             07/11/01           100,000             1.35                1.35             07/11/06
- -------------------- ----------------- ------------------ ------------------ -------------------- ----------------
Cameron A. Mingay         12/01/01           100,000             0.81                0.81             12/01/06
==================== ================= ================== ================== ==================== ================
</TABLE>


Activities of the Compensation Committee

         The  Compensation  Committee  members  are Messrs.  Huxley  (Chairman),
Brough  and  Oliver,  all of whom are  unrelated  directors,  as  defined in the
corporate governance  guidelines of the TSE (the "TSE Guidelines").  In carrying
out its  mandate,  the  Compensation  Committee  met twice during the year ended
December 31, 2001, on November 8 and December 13. In addition to the  activities
reported below, the Compensation  Committee  developed a written charter for the
Compensation  Committee and recommended the adoption of its charter to the Board
of Directors.

Report on Executive Compensation




<PAGE>


                                       -9-


         Executive Compensation Program

         During the year ended  December 31, 2001,  the  Compensation  Committee
received a report from the Vice President,  Human Resources on the  compensation
review process which had been undertaken.  The executive compensation program of
the Corporation is designed to encourage, compensate and reward employees on the
basis of individual and corporate performance,  both in the short and long term.
Base  salaries are set at levels which are  competitive  with the base  salaries
paid by  similar  corporations  within  the  mining  industry.  Compensation  is
directly tied to corporate and individual performance. Bonuses are directly tied
to the  performance  of  the  Corporation.  Share  ownership  opportunities  are
provided as an incentive  to align the  interests  of senior  officers  with the
longer term interests of shareholders and to reward past performance.

         Compensation  for Named Executive  Officers,  as well as for the senior
officers  as a whole,  consists  of a base  salary,  bonus,  stock  options  and
restricted share rights.

         Base Salary

         Corporate office base salaries are established at a competitive  level.
The  level  of base  salary  for  each  senior  officer  of the  Corporation  is
determined by the level of responsibility  and the importance of the position to
the Corporation.

         The   Chairman   and   Chief   Executive    Officer   presents   salary
recommendations  to the  Compensation  Committee  with  respect  to  the  senior
officers of the Corporation.  The Compensation  Committee's  recommendations for
the base salaries for the senior officers are then submitted for approval by the
Board of Directors of the Corporation.

         Chairman and Chief Executive Officer Compensation

         The Chairman of the Compensation Committee presents  recommendations to
the  Compensation  Committee  with respect to the  Chairman and Chief  Executive
Officer.  In setting the  Chairman and Chief  Executive  Officer's  salary,  the
Compensation  Committee  reviews  salaries paid to other senior  officers in the
Corporation, salaries paid to other chief executive officers in the industry and
the Chairman and Chief  Executive  Officer's  impact on the  achievement  of the
Corporation's  objectives  for the previous  financial  year.  The  Compensation
Committee's  recommendation  for the base  salary  for the  Chairman  and  Chief
Executive Officer is submitted for approval to the Board of Directors.

         Bonus

         The Chairman and Chief Executive  Officer of the  Corporation  presents
recommendations  to the  Compensation  Committee  with  respect  to  the  senior
officers of the Corporation.  The Compensation Committee then determines bonuses
for the senior officers and reports the amounts to the Board of Directors of the
Corporation. During the year ended December 31, 2001, the Compensation Committee
made   recommendations   to  the  Vice   President,   Human  Resources  for  the
implementation of a more structured approach to year-end bonus determination and
suggested a framework to be developed by management.

         Options

         The  Stock  Option  Plan  of the  Corporation  is  administered  by the
Compensation Committee and forms part of the Corporation's Share Incentive Plan,
which  consists of the Stock Option Plan and the Share  Purchase Plan. The Stock
Option  Plan is  designed  to give  each  holder of an  option  an  interest  in




<PAGE>


                                      -10-

preserving  and maximizing  shareholder  value in the longer term, to enable the
Corporation to attract and retain individuals with experience and ability and to
reward  individuals  for  current  and  future  performance.   The  Compensation
Committee  considers  option  grants when  reviewing  key employee  compensation
packages.  Any grant recommendations made by the Compensation Committee requires
approval by the Board of Directors of the Corporation. In determining the number
of options to be granted,  the Compensation  Committee gives consideration to an
individual's   present  and  potential   contribution  to  the  success  of  the
Corporation.

         The number of options  which may be issued  under the Stock Option Plan
in the aggregate and in respect of any fiscal year is limited under the terms of
the Stock Option Plan and cannot be increased without shareholder and regulatory
approval. The exercise price per share is not less than the closing price of the
Common  Shares  on the TSE on the  trading  day  preceding  the day on which the
option is granted.  The  options  are for a term of five years and have  various
vesting periods.

         The maximum  number of Common  Shares  issuable  under the Stock Option
Plan is currently set at 12,500,000 in the  aggregate,  representing  61% of the
total Common Shares  allocated to the  Corporation's  Share  Incentive Plan. The
maximum  number of Common Shares  reserved for issue to any one person under the
Stock Option Plan is limited to 5% of the  outstanding  number of Common  Shares
from time to time.

         The initial  grant of options to  directors,  officers and employees of
the  Corporation  and options  granted by and inherited  from the  Corporation's
predecessor  companies  were  ratified  by the full  Board of  Directors  of the
Corporation.  All subsequent grants were reviewed by the Compensation  Committee
and recommended to and approved by the Board of Directors of the Corporation.

         Share Purchase Plan

         The Share  Purchase  Plan of the  Corporation  is  administered  by the
Compensation Committee and forms part of the Corporation's Share Incentive Plan.
The Share Purchase Plan is designed to advance the interests of the  Corporation
through the motivation, attraction and retention of employees of the Corporation
and to secure for the Corporation and its shareholders the benefits  inherent in
the ownership of Common Shares by employees of the Corporation.

         Employees,  including  officers,  of the  Corporation  are  entitled to
contribute  up to 10% of their annual basic salary to the Share  Purchase  Plan.
The Corporation matches the participant's  contribution on a quarterly basis and
each  participant  is then  issued  Common  Shares  having a value  equal to the
aggregate  amount  contributed to the Share Purchase Plan by the participant and
by the Corporation.

         The purchase price per share is the weighted  average  trading price or
the average of the high and low board lot trading prices of the Common Shares on
the TSE, for  participants  resident in Canada,  or the American Stock Exchange,
for participants resident in the United States, for the five consecutive trading
day  period  prior to the end of the  calendar  quarter  in respect of which the
Common Shares are issued. The maximum number of Common Shares issuable under the
Share  Purchase  Plan  is  currently  set  at  8,000,000  Common  Shares  in the
aggregate,  representing  39% of the total number of Common Shares  allocated to
the Corporation's Share Incentive Plan.

         Restricted Share Rights

         The Restricted  Share Plan of the Corporation is  administrated  by the
Compensation  Committee.  The purpose of the Restricted Share Plan is to advance
the  interests  of  the  Corporation  through  the  motivation,  attraction  and
retention of employees,  directors and  consultants  of the  Corporation  and to
secure for the Corporation  and its  shareholders  the benefits  inherent in the
ownership of Common Shares by key  employees,  directors and  consultants of the
Corporation.  Restricted share rights ("Restricted




<PAGE>


                                      -11-


Share  Rights")  may be  granted by the  Compensation  Committee  to  employees,
officers,  directors  and  consultants  of the  Corporation  as a  discretionary
payment in consideration of past services to the Corporation. In determining the
eligibility  of  participants  to the Restricted  Share Plan,  the  Compensation
Committee  considers  the present and potential  contributions  and the services
rendered by each particular participant to the success of the Corporation.

         A  Restricted  Share Right is  exercisable  into one Common Share for a
certain  period of time in  accordance  with the terms of the  Restricted  Share
Plan.  The maximum number of Common Shares  issuable under the Restricted  Share
Plan is currently set at 1,000,000. The maximum number of Common Shares issuable
to insiders  pursuant to the Restricted Share Plan, within a one-year period, is
limited  to 10% of the total  number  of Common  Shares  then  outstanding.  The
maximum  number of Common Shares  issuable to any one insider and such insider's
associates  pursuant to the Restricted Share Plan,  within a one-year period, is
limited to 5% of the total number of Common Shares then outstanding. The maximum
number  of  Common  Shares  reserved  for  issue  to any one  person  under  the
Restricted  Share  Plan  is  limited  to 5%  of  the  number  of  Common  Shares
outstanding from time to time.

         The grant of a  Restricted  Share Right is  evidenced  by a  Restricted
Share  Rights  agreement  between a  participant  and the  Corporation  which is
subject to the  Restricted  Share  Plan and may be  subject  to other  terms and
conditions that are not  inconsistent  with the Restricted  Share Plan and which
the Compensation Committee deems appropriate.

         The  foregoing  report  dated March 22, 2002 has been  furnished by the
Chairman of Compensation Committee on the Committee's behalf.

(Signed) John M.H. Huxley

                      SHAREHOLDER RETURN PERFORMANCE GRAPH

         The following chart (as required by Form 40 of the Regulation) compares
the yearly percentage  changes in the cumulative total shareholder return on the
Common Shares against the  cumulative  total  shareholder  return of the TSE 300
Index and the TSE Gold and Silver  Index for the  period  December  31,  1996 to
December 31, 2001.

Comparison of Cumulative Total Shareholder  Return on the Common Shares, the TSE
                                   300 Index

                     [Graph: Kinross Relative Performance]




<PAGE>


                                      -12-


                        and the TSE Gold and Silver Index


                              CORPORATE GOVERNANCE

         During  the past  year,  the  Board  of  Directors  of the  Corporation
developed, through the Corporate Governance Committee, with input from the other
committees, management and legal counsel, a corporate governance regime based on
the  recommendations  of the Final  Report of the Joint  Committee  on Corporate
Governance  chaired by Ms. Guylaine  Saucier (the "Saucier  Report") and the TSE
Guidelines.  Specifically, the Board of Directors adopted a Charter of the Board
of Directors,  a Charter for each of the  Corporate  Governance  Committee,  the
Audit Committee,  the Compensation Committee and the Environmental Committee and
appointed an independent board leader (the "Independent  Board Leader") to which
has been  assigned  specific  responsibilities  pursuant  to a role  description
adopted by the Board of Directors.

Board of Directors

         Board Charter

         The Corporation's  Board of Directors' mandate has been formalized in a
written charter. The Board of Directors discharges its responsibilities directly
and through  committees of the Board of Directors,  currently  consisting of the
Corporate  Governance  Committee,  Audit Committee,  Compensation  Committee and
Environmental  Committee.  The Board of Directors  meets regularly to review the
business   operations,   corporate  governance  and  financial  results  of  the
Corporation.  Meetings of the Board of Directors  include regular  meetings with
management to discuss specific aspects of the operations of the Corporation. The
Charter of the Board of  Directors  sets out  specific  responsibilities,  which
include, without limitation:

         Appointing the  Independent  Board Leader who will be  responsible  for
         specific   functions  to  ensure  the  independence  of  the  Board  of
         Directors.

         The  adoption of a strategic  planning  process,  approval of strategic
         plans and monitoring the performance against such plans.

         The review and approval of corporate objectives and goals applicable to
         senior management of the Corporation.

         Defining  major  corporate   decisions  requiring  Board  approval  and
         approving such decisions as they arise from time to time.

         Obtaining   periodic  reports  from  management  on  the  Corporation's
         operations   including  reports  on  security  issues  surrounding  the
         Corporation's   assets   (property  and  employees)  and  the  relevant
         mechanisms that management has in place.

         Additional  functions  of the Board are included in its Charter or have
been delegated to its committees. A complete copy of the Charter of the Board of
Directors  of the  Corporation  is  available  upon  request  to  the  Corporate
Secretary of the Corporation.




<PAGE>


                                      -13-


         Report on Board Activities

         Currently,  the Board of Directors of the Corporation consists of seven
persons of which four are unrelated:  Messrs.  Brough, Keyes, Huxley and Oliver.
An  "unrelated"  director,  under  the  TSE  Guidelines,  is a  director  who is
independent of management and is free from any interest in any business or other
relationship  which could, or reasonably be perceived to,  materially  interfere
with the  directors'  ability  to act with a view to the best  interests  of the
Corporation, other than interests and relationships arising from shareholding.

         In  carrying  out its  mandate,  the Board of  Directors  met six times
during the fiscal year ended December 31, 2001. At such meetings and pursuant to
written  resolutions,  the Board of Directors  reviewed and approved or ratified
various  corporate  decisions,  such as entering into material  transactions and
issuance of securities of the Corporation; appointed or reappointed the officers
of the  Corporation  and the members of each of the  committees  of the Board of
Directors;  reviewed with management on a quarterly basis, the mining operations
and exploration activities of the Corporation,  including its lost time incident
rates, its number of active and inactive employees and environmental compliance;
received  reports from the chairman of each of the  committees  regarding  their
activities;  received regular reports on the Corporation's  hedging  activities;
reviewed and  approved  the  consolidated  financial  statements  for the fourth
quarter  and the annual  consolidated  financial  statements  for the year ended
December 31, 2000,  as well as the  consolidated  financial  statements  for the
first, second and third quarter of the year ended December 31, 2001.

         In  addition,  the Board of  Directors  adopted in November  2001,  the
Kinross  Securities  Compliance Policy and Framework (see "Corporate  Governance
Committee - Report on Activities of Corporate Governance Committee").  The Board
delegated various responsibilities to each of its committees and such delegation
was  formalized  in November  2001 by the  adoption of formal  charters for each
committee.  The  Corporation  also  appointed  the  Independent  Board Leader in
February  2002.  (See  "Independent  Board  Leader"  and  "Corporate  Governance
Committee - Report on Activities of the Corporate Governance Committee").

         The  foregoing  report  dated  this  22nd day of  March,  2002 has been
furnished by the Independent Board Leader on behalf of the Board of Directors:

(Signed) John E. Oliver

Independent Board Leader

         Position Description

         The Independent  Board Leader is an outside and unrelated  director who
has been designated by the full Board to enhance and protect, with the Corporate
Governance  Committee and the other committees of the Board, the independence of
the  Board  of  Directors  of  the  Corporation.  The  responsibilities  of  the
Independent Board Leader are comprised substantially of the responsibilities set
out in  Appendix  "B" of  the  Saucier  Report.  These  responsibilities  may be
delegated or shared with the  Corporate  Governance  Committee  and/or any other
independent committee of the Board and include responsibilities such as chairing
all meetings of outside directors;  providing leadership to the Board to enhance
the Board's  effectiveness;  managing the Board; acting as a liaison between the
Board and  management;  and  representing  the  Corporation to certain  external
groups.  A copy of the role  description  of the  Independent  Board  Leader  is
available upon request to Corporate Secretary of the Corporation.




<PAGE>


                                      -14-


         Report on Independent Board Leader Activities

         Mr.  John  E.  Oliver  was  appointed  by the  Board  of  Directors  as
Independent  Board  Leader  in  February  2002.  Mr.  Oliver is an  outside  and
unrelated  director in accordance with the Saucier Report. As the appointment of
an Independent  Board Leader of the Corporation was effected in February,  2002,
there is no activity to be reported with regard to the Independent  Board Leader
for the year ended December 31, 2001.

Board Committees

         Corporate Governance Committee

         Corporate Governance Committee Charter

         The mandate of the Corporate  Governance  Committee has been formalized
in its written charter.  Generally,  its mandate is to assume the responsibility
for developing the  Corporation's  approach to matters of corporate  governance,
including,   assisting  the  Independent   Board  Leader  in  carrying  out  his
responsibilities;  assessing  the  effectiveness  of the  Board as a whole,  its
committees and individual  directors;  supervising the Corporation's  securities
compliance  procedures;  reviewing the  composition of the Board;  analyzing the
needs,  when vacancies  arise on the Board,  for new nominees;  ensuring that an
appropriate  selection  process for new  nominees is in place;  and dealing with
succession planning issues relating to senior management.

         The Corporate Governance Committee is to be comprised of at least three
directors. Each of the Committee members must be independent from management and
free from any  relationship  that, in the opinion of the Board,  would interfere
with  the  exercise  of his or her  independent  judgement  as a  member  of the
Committee.  All members  should have skills that are  relevant to the mandate of
the Committee. A copy of the Corporate Governance Committee Charter is available
upon request to the Corporate Secretary.

         Report on Activities of Corporate Governance Committee

         The  Corporate   Governance   Committee  members  are  Messrs.   Oliver
(Chairman), Keyes and Mingay, two of whom are unrelated directors, as defined in
the TSE Guidelines,  but all of whom are sufficiently independent in the opinion
of the Board. In carrying out its mandate,  the Corporate  Governance  Committee
met twice during the year ended December 31, 2001, on August 1 and November 7.

         At its  August 1, 2001  meeting,  the  Corporate  Governance  Committee
discussed the Corporation's  securities  compliance practices and concluded that
management  should  implement  procedures  to increase  diligence in  securities
compliance  matters  relating  to  the  Corporation.  The  Corporate  Governance
Committee also  considered  the need for  improvements  in corporate  governance
practices,  and determined it would be  advantageous  to adopt a written charter
for each  committee of the Board of Directors.  In addition,  in order to ensure
adherence to the committee  mandates set forth in the charters of the respective
committees,  it was decided that each committee  chairman  should be seized with
the  responsibility  of reporting the year's  activities of his or her committee
directly to the shareholders of the Corporation.

         The Corporate  Governance  Committee mandated Cassels Brock & Blackwell
LLP to conduct a full review of, and to report on, the Corporation's  securities
compliance  and  corporate   governance   practices  and  to  develop,  for  the
Corporation,  a written  framework in connection with securities  compliance and
corporate governance.  At its November 7, 2001 meeting, the Corporate Governance
Committee  received from Cassels Brock & Blackwell  LLP, its report;  a draft of
the Kinross Gold




<PAGE>


                                      -15-


Corporation  Securities  Compliance Policy and Framework,  consisting of various
written  procedures  relating to  compliance  matters  such as insider  trading,
insider  reporting,  selective  disclosure,  electronic  disclosure  and  mining
disclosure,  as well as transaction management  mechanisms,  internal compliance
audit processes and reporting processes to the Corporate  Governance  Committee;
and drafts of the various charters of the Board and of each of its committees.

         The  Corporate  Governance  Committee  recommended  for adoption by the
Board of Directors,  the Kinross Securities  Compliance Policy and Framework and
this Policy and Framework was adopted by the Board in November 2001. At the same
meeting,  the Board adopted the Corporate  Governance  Committee Charter and the
Board of Directors Charter.

         At a meeting held in February 2002, the Board approved the  appointment
of, and the adoption of a role description for, the Independent Board Leader.

         The  Corporation's  corporate  governance  practices are based upon and
comply with the  recommendations  contained  in the  Saucier  Report and the TSE
Guidelines,  except  as  follows.  No formal  programs  are in place yet for the
purposes  of  proposing  new  members to the Board,  providing  orientation  and
education for new recruits to the Board or for assessing  the  effectiveness  of
the  board  as a  whole,  the  committees  or  the  contribution  of  individual
directors.  In addition,  no formal  position  description  exists for the Chief
Executive Officer and, as a consequence,  there is no formal assessment process.
These responsibilities have been delegated to the Corporate Governance Committee
pursuant to its charter, and, in turn, delegated to the Independent Board Leader
and will be undertaken by the Independent Board Leader.

         The  foregoing  report  dated  this  22nd day of  March,  2002 has been
furnished  by  the  Chairman  of  the  Corporate  Governance  Committee  on  the
Committee's behalf.

(Signed) John E. Oliver

         Audit Committee

         Audit Committee Charter

         The mandate of the Audit  Committee  has been  formalized  in a written
charter.  Generally  its  mandate  is to  provide  assistance  to the  Board  of
Directors of the  Corporation in fulfilling its financial  reporting and control
responsibilities  to the  shareholders  of the  Corporation  and the  investment
community.   Its  primary  duties  and  responsibilities  are  to  serve  as  an
independent and objective party to monitor the Corporation's financial reporting
process and control  systems;  review and appraise the audit  activities  of the
Corporation's  independent auditors and the internal audit function; and provide
open lines of communication among the independent auditors, financial and senior
management,  and the Board of  Directors  for  financial  reporting  and control
matters.  The Audit Committee is also responsible  for, among other things,  the
identification of significant business,  political,  financial and control risks
and exposure and assessing the steps management has taken to minimize such risks
to the Corporation.

         The Audit  Committee is to be  comprised  of at least three  directors.
Each of the Committee  members must be independent from management and free from
any  relationship  that, in the opinion of the Board,  would  interfere with the
exercise of his or her independent  judgement as a member of the Committee.  All
members  should  have a working  familiarity  of basic  finance  and  accounting
practices,  and at least one member must have  accounting  or related  financial
management expertise.  A copy of the Amended Charter of the Corporate Governance
Committee  is  available  upon  request  to  the  Corporate   Secretary  of  the
Corporation.




<PAGE>


                                      -16-

         Report on Activities of Audit Committee

         The Audit Committee members are Messrs.  Brough (Chairman),  Huxley and
Mingay, two of whom are unrelated  directors,  as defined in the TSE Guidelines,
but all of whom are  sufficiently  independent  in the opinion of the Board.  In
carrying out its  mandate,  the Audit  Committee  met four times during the year
ended December 31, 2001, on February 14, May 1, August 1 and November 7. At such
meetings the Audit  Committee  reviewed,  with the  Vice-President,  Finance and
Chief Financial  Officer and the auditors of the  Corporation,  the consolidated
financial  statements  for  the  fourth  quarter  and  the  annual  consolidated
financial  statements  for the year  ended  December  31,  2000,  as well as the
consolidated  financial  statements for the first,  second and third quarters of
the year ended  December 31, 2001.  For each of the  financial  statements,  the
Audit Committee  received the input and comments of the Corporation's  auditors,
which  included  among other  things,  confirmation  of the  cooperation  of the
management of the Corporation in conducting  their audit and of the independence
of the auditors from the  Corporation.  On November 7, 2001, the Audit Committee
reviewed  a draft of the  Amended  Charter  of the  Audit  Committee.  The Audit
Committee recommended the adoption of the Amended Charter of the Audit Committee
to the Board of Directors.

         The  foregoing  report  dated  this  22nd day of  March,  2002 has been
furnished by the Chairman of the Audit Committee on the Committee's behalf.

(Signed) John A. Brough

         Compensation Committee

         Compensation Committee Charter

         The mandate of the  Compensation  Committee  has been  formalized  in a
written charter.  Generally, it is responsible for making recommendations to the
Board of Directors on all matters relating to the compensation of directors, the
members of the various committees of the Board, the Independent Board Leader and
the senior  officers of the  Corporation.  For the purpose of its  mandate,  the
Compensation  Committee  reviews all aspects of compensation  paid to directors,
committee members,  independent board leaders, management and employees of other
mining  companies  to  ensure  the  Corporation's   compensation   programs  are
competitive, ensuring that the Corporation can attract, motivate and retain high
calibre individuals.

         The  Compensation  Committee  is to be  comprised  of  at  least  three
directors. Each of the Committee members must be independent from management and
free from any  relationship  that, in the opinion of the Board,  would interfere
with  the  exercise  of his or her  independent  judgement  as a  member  of the
Committee.  All members  should have skills that are  relevant to the mandate of
the Committee.  A copy of the Compensation  Committee  Charter is available upon
request to the Corporate  Secretary and for the report of such committee for the
year ended December 31, 2001, see "Executive Compensation".

         Environmental Committee

         Environmental Committee Charter

         The mandate of the  Environmental  Committee has been formalized in its
written charter.  Generally,  the mandate of the  Environmental  Committee is to
oversee the development and implementation of policies and best practices of the
Corporation  relating to environmental issues in order to ensure compliance with
environmental  laws. This includes assisting the  Vice-President,  Environmental
Affairs and  management in reaching the  objectives  set out in the Kinross Gold




<PAGE>


                                      -17-


Corporation  Environmental Policy and Framework and monitoring its effectiveness
and discussing with management any necessary improvements to such policy and its
framework of implementation.

         The  Environmental  Committee  is to be  comprised  of at  least  three
directors. Each of the Committee members must be independent from management and
free from any  relationship  that, in the opinion of the Board,  would interfere
with  the  exercise  of his or her  independent  judgement  as a  member  of the
Committee.  All members  should have skills that are  relevant to the mandate of
the Committee.  A copy of the Environmental  Committee Charter is available upon
request to the Corporate Secretary.

         Report on Activities of the Environmental Committee

         The  Environmental  Committee  members  are Messrs.  Keyes  (Chairman),
Oliver and Mingay,  two of whom are unrelated  directors,  as defined in the TSE
Guidelines,  but all of whom are sufficiently  independent in the opinion of the
Board. In order to carry out its mandate, the Environmental  Committee met twice
during the year ended December 31, 2001, on August 1 and November 7.

         On August 1, 2001, the Environmental  Committee  considered the year to
date  environmental   performance  review;  received  from  the  Vice-President,
Environmental Affairs, an environmental audit program status report and approved
a rating system for ranking the relative significance of exceptions  identified;
reviewed site environmental management plan development; considered and approved
the  Environmental  Performance  Index to  provide  numeral  measure  of overall
environmental performance for each of the Corporation's operations.

         On November 7, 2001, the Environmental Committee considered the quarter
and year to date environmental  performance review;  considered and approved the
revised Kinross Gold Corporation  Environmental Policy and Framework;  received,
from  the  Vice-President,  Environmental  Affairs,  a  status  report  on  site
environmental audits and corrective action plans;  conducted a review of closure
and  reclamation  costs;  and received  from the  Vice-President,  Environmental
Affairs  a  presentation  on  the  2002  Kinross  Environmental  Business  Plan,
including goals and objectives.  The Environmental Committee reviewed a draft of
the Charter of the  Environmental  Committee and recommended its adoption to the
Board.

         The  foregoing  report  dated  this  22nd day of  March,  2002 has been
furnished by the  Chairman of the  Environmental  Committee  on the  Committee's
behalf.

(Signed) John A. Keyes

Shareholder Feedback

         The Corporation has a Vice-President,  Investor Relations and Corporate
Development as well as an Investor  Relations Officer who handles inquiries from
the  investment  community.  All  shareholder  inquiries  are  directed  to  the
Corporate Secretary of the Corporation.  Shareholder  inquiries are responded to
promptly by the appropriate individual within the Corporation.


         INTERESTS OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS

         Since the  commencement  of the  Corporation's  last financial year, no
director,  senior officer or principal  shareholder of the Corporation,  nor any
affiliate  or  associate  thereof,  has had any  material  interest,  direct  or
indirect,   in  any  transaction   which  has  or  will  materially  affect  the
Corporation.




<PAGE>


                                      -18-


Additional Information

         Copies of the Corporation's  latest annual  information form,  together
with any document incorporated therein by reference, annual report and financial
statements  and  management  proxy  circular may be obtained upon request to the
Corporate Secretary of the Corporation.  The Corporation may require the payment
of a  reasonable  charge  if  the  request  is  made  by a  person  who is not a
shareholder of the Corporation.

Directors' Approval

         The Board of Directors of the Corporation has approved the contents and
the sending of this Circular.

         The foregoing  contains no untrue statement of a material fact and does
not omit to state a  material  fact  that is  required  to be  stated or that is
necessary to make a statement not  misleading in the light of the  circumstances
in which it was made.

         DATED this 22nd day of March, 2002.




(Signed) Robert M. Buchan               (Signed) Brian W. Penny
Chairman and Chief                      Vice President, Finance and
Executive Officer                       Chief Financial Officer



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>5
<FILENAME>kin6kex99c.txt
<DESCRIPTION>EXHIBIT 99C
<TEXT>


                                                                     Exhibit 99c
                                                                     -----------


KINROSS GOLD CORPORATION

For the period ended March 31, 2002

All amounts are expressed in U.S dollars unless otherwise stated


Cautionary Statement This document 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 ("the Company"), 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. In
the first quarter of 2002, the Company's three primary mines produced more gold
equivalent ounces at slightly higher total cash costs per ounce than the first
quarter of the previous year. Excluding the cash gain on the restructuring of
gold forward sales contracts during the first quarter of 2001, cash flow
provided from operating activities improved dramatically in the first quarter of
2002 when compared to the first quarter of 2001. During the quarter, the Company
continued with its strategy to reduce the outstanding convertible preferred
shares of Kinam ("Kinam Preferred Shares"), thus improving the perceived quality
of our balance sheet. During the first quarter the Company's net free cash
balance increased by $9.0 million. "We continue to remain focused on our total
obligations and on reducing those wherever possible" Robert M. Buchan, Chairman
and Chief Executive Officer said, "During the first quarter we repaid $10.5
million of long-term debt and completed a cash tender offer acquiring Kinam
Preferred Shares with a book value of $35.6 million for $10.4 million".


FIRST QUARTER CONSOLIDATED RESULTS

Gold equivalent production of 225,302 ounces at total cash costs of $197 per
ounce, combined with positive changes in working capital resulted in cash flow
provided from operating activities of $19.9 million or $0.06 per share during
the first quarter of 2002. This compares to gold equivalent production of
239,352 ounces at total cash costs of $191 per ounce that resulted in cash flow
provided from operating activities of $32.7 million or $0.11 per share during
the first quarter of 2001, which included $21.1 million or $0.07 per share of
proceeds from the restructuring of gold forward sales contracts. The Company
recorded a net loss of $7.9 million or $0.03 per share for the first quarter of
2002, compared to a net loss of $3.5 million or $0.02 per share for the first
quarter of 2001. The 2001 first quarter results as well as the December 31, 2001
balance sheet have been restated to comply with the new Canadian GAAP treatment
of unrealized foreign exchange gains (see Note 2 to the Consolidated Financial
Statements for details of this restatement).

REVENUES

Gold and Silver Sales The Company's primary source of revenue is from the sale
of its gold production. The Company sold 231,673 ounces of gold during the first
quarter of 2002, compared with 229,909 ounces in 2001. Revenue from gold and
silver sales was $68.8 million in the first quarter of 2002 compared with $64.1
million in 2001. Revenue from gold and silver sales in the first quarter of 2002
was higher than 2001 due to higher realized prices. In the first quarter of
2002, the Company realized $295 per ounce of gold, compared with $277 in 2001.
The average spot price for gold was $290 per ounce in the first quarter of 2002
compared with $264 in 2001.

SUMMARY INFORMATION

<TABLE>
<CAPTION>
                                                 Three months ended March 31,
                                                     2002              2001
<S>                                                <C>              <C>
Attributable gold equivalent production
 - ounces                                          225,302          239,352
Attributable gold production
 - ounces                                          223,956          237,392
Gold sales - ounces
 (excluding equity accounted ounces)               231,673          229,603
Gold revenue (millions)                             $ 68.3           $ 63.6
Average realized gold price per ounce               $  295           $  277
Average spot gold price per ounce                   $  290           $  264
</TABLE>

Included in gold equivalent production is silver production converted to gold
production using a ratio of the average spot market prices of gold and silver
for the two comparative periods. The resulting ratios are 64.70:1 in 2002 and
58.06:1 in 2001.

Interest and Other Income The Company invests its surplus cash in high quality,
interest-bearing cash equivalents. Interest and other income during the first
quarter of 2002 totaled $1.2 million compared with $2.5 million in 2001.
Interest and other income in the first quarter of 2002 declined due to lower
interest earned on cash deposits due to substantially lower interest rates.

Mark-to-Market Gain (Loss) on Written Call Options Premiums received at the
inception of written call options are recorded as a liability at the time of
issuance. Changes in the fair value of the liability are recognized in earnings.
The change in fair value of the written call options during the first quarter of
2002 resulted in a mark to market loss of $1.0 million compared with a gain of
$3.1 million in 2001.

COSTS AND EXPENSES

Operating Costs Gold sales in the first quarter of 2002, (excluding equity
accounted ounces) increased by 1% when compared with 2001 first quarter sales,
while operating costs increased by 5%. Consolidated operating costs were $46.8
million in the first quarter of 2002 compared to $44.7 million in 2001. Total
cash costs per ounce of gold equivalent produced were $197 in the first quarter
of 2002 compared to $191 in 2001. Total cash costs per ounce of gold equivalent
in the first quarter of 2002, when compared to 2001, improved at the Hoyle Pond
mine, remained constant at the Kubaka mine and increased at the Fort Knox mine.

The following table provides a reconciliation of operating costs per the
consolidated financial statements to operating costs for per ounce calculation
of total cash costs pursuant to the Gold Institute guidelines.

RECONCILIATION OF TOTAL CASH COSTS PER EQUIVALENT
OUNCE OF GOLD TO CONSOLIDATED FINANCIAL STATEMENTS

<TABLE>
<CAPTION>
(millions except production                        Three months ended March 31,
in ounces and per ounce amounts)                      2002              2001

<S>                                                <C>              <C>
Operating costs per financial statements           $  46.8          $  44.7
Kinross' share of Dayton's operating costs             1.5              2.1
Blanket mine operating costs                           2.5               --
Site restoration cost accruals                        (0.8)            (0.4)
Change in bullion inventory and other                 (5.7)            (0.8)
Operating costs for per ounce
 calculation purposes                              $  44.3          $  45.6
Gold equivalent production - ounces                225,302          239,352
Total cash costs per equivalent ounce of gold      $   197          $   191
</TABLE>

Details of the individual mine performance are discussed in the following
sections.

Fort Knox Mine The Fort Knox open pit mine, located near Fairbanks, Alaska
includes the results of operations for both the True North and Fort Knox open
pit mines. Gold equivalent production in the first quarter of 2002 was 93,160
ounces compared to 100,347 in 2001. During the first quarter of 2002, total cash
costs were $256 per ounce of gold equivalent compared to $186 in 2001. Cash
production costs were $5.2 million higher than the first quarter of 2001 due
primarily to the operation of the True North mine, which was not active during
the same period in 2001. Total cash costs per ounce exceeded plan by 7% due
primarily to lower than reserve grades coming from the Fort Knox open pit. The
current mine plan has mining of this lower grade portion of the Fort Knox open
pit ending in the second quarter of 2002. The True North open pit provided
slightly higher than anticipated grades demonstrating a much-improved
reconciliation with the revised True North reserve model. Also impacting costs
during the first quarter of 2002 when compared to 2001 was significant planned
maintenance spending on the Fort Knox operating fleet. This maintenance effort
will be completed early in the second quarter resulting in reduced costs and
higher equipment availability and production for the remainder of the year.
Estimated production and total cash costs per ounce for the year remain
unchanged from previous estimates of 440,000 ounces of gold equivalent at total
cash costs of $210 per ounce.

Capital expenditures at the Fort Knox operations during the first quarter of
2002 were $1.0 million compared with $7.9 million during 2001. Capital
expenditures during the first quarter of 2002 involved engineering and design
work on the new thickener at the Fort Knox mill and the purchase of a road
grader for the True North mine.

Hoyle Pond Mine The Hoyle Pond underground mine is located in Timmins, Ontario.
Gold equivalent production in the first quarter of 2002 was 53,476 ounces
compared to 36,066 ounces in 2001. In the first quarter of 2002, total cash
costs were $144 per ounce of gold equivalent compared to $208 in 2001. Cash
production costs were on plan during the first quarter of 2002, unchanged from
2001. Higher gold equivalent production due to a 28% increase in the grade of
ore processed, and a 7% increase in mill tonnages processed, resulted in the
lower per ounce total cash costs.

Capital expenditures at the Hoyle Pond operations during the first quarter of
2002 were $1.7 million compared to $3.0 million during 2001. Capital
expenditures during the first quarter of 2002 were required to further advance
the 1060 ramp, underground development drilling and underground fleet
replacements.

The Company is currently involved in completing due diligence and negotiating
the joint venture agreement with Placer Dome Inc. that will combine the two
companies operations in the Porcupine mining camp located in Timmins, Ontario.
Once completed and effective, which is anticipated to be early in the third
quarter of 2002, the Company will provide revised estimates of its share of
production, total cash costs and capital expenditures for 2002. Preliminary
expectations, based on an assumed effective date of July 1, 2002 for the joint
venture are for Kinross Timmins gold production in 2002 to grow to almost
200,000 ounces at total cash costs of approximately $175 per ounce.

Kubaka Mine (54.7% Ownership Interest) The Kubaka open pit mine is located in
the Magadan Oblast in the Russian Far East. The Company's share of gold
equivalent production in the first quarter of 2002 was 56,645 ounces compared to
56,175 ounces in 2001. In the first quarter of 2002, total cash costs were $141
per gold equivalent ounce unchanged from 2001. The Kubaka mine continues to
perform exceptionally well. Cash production costs were on plan during the first
quarter of 2002, unchanged from 2001. In the first quarter of 2002, mill
tonnages processed declined by 7%, which was compensated by an 8% increase in
the grade of the ore processed.

Open pit mining operations at Kubaka will continue until the third quarter of
2002. After the open pits are exhausted, gold reserves will be mined in the
North High Wall, Center Zone and North Vein using underground mining methods.
This program is scheduled to start in the third quarter of 2002 and continue
through the second quarter of 2003. Currently, final approval of mine plans is
being sought for these projects.

Exploration activities at the Birkachan project continued during the quarter.
The Company completed a preliminary estimate of mineral resources for the
Birkachan project during the first quarter. The Company is pleased to announce
the inferred resources (100% basis) are estimated to contain 726,700 tonnes at a
grade of 18.76 grams per tonne for approximately 438,000 ounces of gold. The
Company has commenced the process of converting the exploration license at
Birkachan to a mining license.

Other Operations In addition to its primary operating mines, the Company has
ownership interests in other locations including the Refugio mine, which is in
residual leach production and the Blanket mine in Zimbabwe. Gold equivalent
production at these locations during the first quarter of 2002 was a total of
22,021 ounces of gold equivalent at total cash costs of $219 per ounce.

OTHER EXPENSES

General, administration and exploration expenditures totaled $4.4 million in the
first quarter of 2002 compared with $4.6 million in 2001. The Company continues
to focus on containment of its overhead costs, but anticipates higher
exploration spending during the next three quarters. Exploration activities will
increase as the Company completes the exploration programs required to expend
the flow-through funds raised in late 2001.

Depreciation, Depletion and Amortization Depreciation, depletion and
amortization totaled $21.8 million during the first quarter of 2002 compared
with $19.4 million in 2001. Depreciation, depletion and amortization have
increased to $94 per equivalent ounce of gold sold in the first quarter of 2002
from $84 in 2001. Depreciation, depletion and amortization increased primarily
due to a change in the mix of production at the Fort Knox Mine. The True North
production has a higher per ounce charge than the Fort Knox production.

Interest Expense on Long-Term Liabilities Interest expense on long-term
liabilities totaled $1.5 million during the first quarter of 2002, compared with
$2.6 million in 2001. Interest expense on long-term liabilities during the first
quarter of 2002 is comprised of $0.6 million related to the Fort Knox industrial
revenue bonds and capital leases, $0.7 million on the debt component of
convertible debentures and the balance on the Kubaka project financing debt.
Interest expense decreased in 2002 due to lower debt balances outstanding and
lower interest rates.

Provision for Income and Mining Taxes Provision for income and mining taxes
totaled $1.4 million during the first quarter of 2002 compared with $1.0 million
in 2001. Income taxes during the first quarter of 2002 were comprised of $1.3
million of Russian income taxes and Canadian large corporations tax of $0.1
million.

Dividends on Convertible Preferred Shares of Subsidiary Company Cumulative
dividends accrued on the convertible preferred shares of subsidiary company
("Kinam Preferred Shares") held by non-affiliated shareholders were $0.8 million
during the first quarter of 2002 compared with $1.7 million in 2001. A lower
number of Kinam Preferred Shares held by non-affiliated shareholders when
compared with the first quarter of 2001 resulted in the lower dividend accrual.

LIQUIDITY AND FINANCIAL RESOURCES

Operating Activities Cash flow provided from operating activities during the
first quarter of 2002 was $19.9 million compared with $32.7 million in 2001.
Included in the first quarter 2001 cash flow from operating activities was $21.1
million of cash flow generated upon the restructuring of certain spot deferred
forward sales contracts. The first quarter 2002 cash flow from operating
activities was positively effected by nominally higher gold sales and a 6%
increase in average realized gold prices. The 2002 cash flow from operating
activities was used to finance capital expenditures and service existing debt.

Financing Activities During the first quarter of 2002, the Company completed an
equity issue and issued 23.0 million common shares from treasury for net
proceeds of $18.5 million. The majority of the funds received were used on March
28, 2002 to acquire Kinam Preferred Shares with a book value of $35.6 million
for $10.4 million ($11.1 million including costs of the tender offer).

The debt component of convertible debentures was reduced by $1.3 million during
the first quarter of 2002 compared to $1.3 million during 2001. Long-term debt
repayments were $10.5 million during the first quarter of 2002 compared to $24.3
million during 2001. Long-term debt repayments during the first quarter of 2002
were comprised of $9.0 million of the Fort Knox industrial revenue bonds, $1.0
million of capital leases and $0.5 million of Kubaka project financing debt.

The Company did not declare and pay any dividends on the Kinam Preferred Shares
during the first quarter of 2002 or 2001.

As at March 31, 2002, the Company had a $50.0 million operating line of credit
in place with a bank syndicate, which is utilized for letters of credit
purposes. As at March 31, 2002, $54.0 million of letters of credit were issued
under this facility, which required the Company to restrict $4.0 million of cash
as security for the excess letters of credit outstanding. The Company has
extended the final maturity date of the operating line of credit to April 2,
2003. The Company is currently in the process of re-marketing this credit
facility with the intention of increasing its size and extending the final
maturity date.

As at March 31, 2002, the Company's long-term debt consists of $3.7 million
relating to the Kubaka project financing, $40.0 million of Fort Knox industrial
revenue bonds and various capital leases and other debt of $9.9 million. The
current portion of the long-term debt is $22.1 million.

Investing Activities Capital expenditures decreased by 73% in the first quarter
of 2002 compared with 2001. During the first quarter of 2002, $3.1 million was
spent on capital additions, compared to $11.5 million in 2001. The first quarter
2002 capital expenditures focused primarily on the Hoyle Pond and Fort Knox
operations with 90% of total capital expenditures incurred at these two mines.
Capital expenditures were financed out of cash flow from operating activities.

Commodity Price Risks The Company has entered into gold forward sales contracts,
spot deferred forward sales contracts and written call options for some portion
of expected future production to mitigate the risk of adverse price
fluctuations. The Company does not hold these financial instruments for
speculative or trading purposes. The Company is not subject to margin
requirements on any of its hedging lines.

The outstanding number of ounces, average expected realized prices and
maturities for the gold commodity derivative contracts as at March 31, 2002 are
as follows: Ounces Call Options Average Hedged Average Sold Strike Year 000 0z
Price 000 0z Price

2002                225             $ 285              50           $   340
2003                138               277             100               320
2004                138               277              50               340
2005                 38               296              --                --
Total                                 539                               200

The fair value of the call options sold is recorded in the financial statements
at each measurement date. The fairvalue of the gold forward sales and spot
deferred forward sales contracts was negative $14.2 million.

CONTINGENCIES

The Company has been named as a defendant in a class action complaint filed on
or about April 26, 2002, entitled Robert A. Brown, et al.v. Kinross Gold U.S.A.,
Inc., et al., Case No. CV-S-02-0605-KJD-RJJ, brought in the United States
District Court for the District of Nevada. The complaint names as defendants the
Company, its subsidiary, Kinross Gold U.S.A., Inc., its subsidiary Kinam Gold
Inc., and Robert M. Buchan. The complaint is based on claims arising out of the
purchase of the Kinam Preferred Shares by the Company. The complaint seeks
damages in cash or by the issuance of common shares of the Company. The Company
believes this claim is without merit and plans to vigorously defend the
litigation.

OUTLOOK

As at March 31, 2002, the Company has $78.3 million of working capital, which
includes a strong cash balance. The Company is continually focused on improving
its balance sheet by reducing its obligations. In addition, the recently
announced intent to form the Porcupine Area Joint Venture with Placer Dome
combined with improved cash flow from operating activities due to higher spot
gold prices should allow the Company to pursue opportunities as they present
themselves.

Mr. Buchan, Chairman and CEO, is also pleased to announce the appointment of Mr.
Scott Caldwell to the positions of President and Chief Operating Officer. Mr.
Caldwell, previously Senior Vice President of Operations for Kinross, assumes
this role following the appointment of Art Ditto, previously President and COO,
to the position of Vice Chairman. Mr. Buchan stated "We welcome Scott to his new
positions and thank Art for his contributions over the years and we look forward
to his continued strategic counsel to the Company's operations and development
efforts in his new role."


Robert M. Buchan
Chairman and Chief Executive Officer
April 30, 2002



GOLD EQUIVALENT PRODUCTION - OUNCES
<TABLE>
<CAPTION>
                                        Three months ended March 31,
                                            2002              2001
<S>                                        <C>             <C>
Primary operations:
         Fort Knox                         93,160          100,347
         Hoyle Pond                        53,476           36,066
         Kubaka(1)                         56,645           56,175
                                          203,281          192,588

Other operations:
         Refugio(2)                         6,590           25,827
         Blanket                            9,697           10,169
         Denton-Rawhide(3)                  3,876            4,403
         Andacollo(3)                       1,858            3,582
         Hayden Hill                          --             1,065
         Guanaco                              --             1,718
                                           22,021           46,764
Total gold equivalent ounces             225,302           239,352
</TABLE>


CONSOLIDATED PRODUCTION COSTS
<TABLE>
<CAPTION>
                                      Three months ended March 31,
($ per ounce of gold equivalent)         2002              2001

<S>                                   <C>                 <C>
Cash operating costs                  $  191              $ 184
Royalties                                  6                  7
Total cash costs                         197                191
Reclamation                                4                  2
Depreciation and amortization             94                 84
Total production costs                $  295              $ 277
</TABLE>

(1)   Represents the Companys's 54.7% ownership interest.
(2)   Represents the Companys's 50% ownership interest.
(3)   Includes proportionate share of Denton-Rawhide and Andacollo
      production attributable to the 32% Dayton ownership interest.




CASH OPERATING COSTS
<TABLE>
<CAPTION>
                                        Three months ended March 31,
($ per ounce of gold equivalent)          2002              2001
<S>                                      <C>               <C>
Primary operations:
         Fort Knox                       $ 256             $ 186
         Hoyle Pond                        143               207
         Kubaka                            122               120
                                           189               170

Other operations:
         Refugio                           117               231
         Blanket                           253               218
         Denton-Rawhide                    230               268
         Andacollo                         287               259
         Hayden Hill                        --               280
         Guanaco                            --               413
                                           211               242
                                         $ 191             $ 184
</TABLE>


TOTAL CASH COSTS
<TABLE>
<CAPTION>
                                              Three months ended March 31,
($ per ounce of gold equivalent)                 2002              2001
<S>                                              <C>             <C>
Primary operations:
         Fort Knox                               $ 256           $ 186
         Hoyle Pond                                144             208
         Kubaka                                    141             141
                                                   195             177

Other operations:
         Refugio                                   133             244
         Blanket                                   257             218
         Denton-Rawhide                            233             268
         Andacollo                                 295             264
         Hayden Hill                                --             289
         Guanaco                                    --             436
                                                   219             250
                                                 $ 197           $ 191
</TABLE>



<PAGE>


<TABLE>
<CAPTION>
GOLD EQUIVALENT PRODUCTION AND COST SUMMARY
Three months ended March 31,                       2002             2001

<S>                                              <C>              <C>
Fort Knox
Tonnes milled/crushed (000's)(1)                 3,545.4          3,303.1
Grade (grams per tonne)                             0.98             1.09
Recovery                                             83%              87%
Gold equivalent production to dore(2)             93,160          100,347
Per ounce:
         Total cash costs                        $   256         $    186
         Depreciation, depletion
                  and amortization                   118               81
         Site restoration cost accruals                3                3
         Total production costs                  $   377         $    270

Hoyle Pond
Tonnes milled/crushed (000's)(1)                   122.7            114.7
Grade (grams per tonne)                            14.80            11.54
Recovery                                             92%              85%
Gold equivalent production to dore(2)             53,476           36,066
Per ounce:
         Total cash costs                        $   144         $    208
         Depreciation, depletion
                  and amortization                    66               97
         Site restoration cost accruals                7                1
         Total production costs                  $   217         $    306

Kubaka(3)
Tonnes milled/crushed (000's)(1)                   209.0            222.8
Grade (grams per tonne)                            15.55            14.40
Recovery                                             98%              98%
Gold equivalent production to dore(2)             56,645           56,175
Per ounce:
         Total cash costs                        $   141         $    141
         Depreciation, depletion
                  and amortization                    83               99
         Site restoration cost accruals                4               --
         Total production costs                  $   228         $    240
</TABLE>


cont'd
<TABLE>
<CAPTION>
Three months ended March 31,                         2002              2001
Refugio(4)
<S>                                               <C>                <C>
Tonnes milled/crushed (000's)(1)                      --             2,857.2
Grade (grams per tonne)                               --                0.97
Recovery                                              --                 64%
Gold equivalent production to dore(2)              6,590              25,827
Per ounce:
         Total cash costs                          $ 133              $  244
         Depreciation, depletion
         and amortization                             --                 --
         Site restoration cost accruals               --                 --
         Total production costs                    $ 133              $  244

Blanket
Tonnes milled/crushed (000's)(1)                   281.0               275.6
Grade (grams per tonne)                             1.55                1.56
Recovery                                             69%                 74%
Gold equivalent production to dore(2)              9,697             10,169
Per ounce:
         Total cash costs                          $ 257              $ 218
         Depreciation, depletion
                  and amortization                    --                 62
         Site restoration cost accruals               --                  3
         Total production costs                    $ 257              $ 283
</TABLE>

(1)   Tonnes milled/crushed represents 100% of mine production
(2)   Gold equivalent to dore represents the Company's share
(3)   54.7% ownership interest
(4)   50% ownership interest



CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
                                                     As at        As at
                                                   March 31     December 31
(expressed in millions of U.S. dollars)              2002           2001
(unaudited)

Assets                                                         (Re-stated
                                                                - Note 2)
<S>                                                 <C>          <C>
Current assets
         Cash and cash equivalents                  $ 90.0       $  81.0
         Restricted cash                               4.0            --
         Accounts receivable                           9.2          13.8
         Inventories                                  38.7          42.4
         Marketable securities                         0.3           1.5
                                                     142.2         138.7
Property, plant and equipment (Note 4)               374.1         415.0
Long-term investments                                 13.2          12.9
Deferred charges and other assets                     11.5          11.0

                                                    $541.0       $ 577.6

Liabilities
Current liabilities
         Accounts payable and accrued liabilities   $ 30.3       $  31.0
         Current portion of long-term debt            22.1          33.1
         Current portion of site restoration cost
          accruals                                    11.5          12.6
                                                      63.9          76.7

Long-term debt                                        31.5          31.0
Site restoration cost accruals                        43.8          43.0
Future income and mining taxes                         3.3           3.3
Deferred revenue                                       8.3           9.6
Other long-term liabilities                            6.7           6.0
Debt component of convertible debentures              24.9          26.0
Redeemable retractable preferred shares                2.4           2.4
                                                     184.8         198.0

Convertible preferred shares of subsidiary company
   (Note 4)                                           13.2          48.0

Common shareholders' equity
Common share capital                                 964.7         945.7
Contributed surplus                                   12.9          12.9
Equity component of convertible debentures           127.0         124.8
Deficit                                             (733.2)       (723.2)
Cumulative translation adjustments                   (28.4)        (28.6)
                                                     343.0         331.6
                                                    $541.0       $ 577.6
</TABLE>

Contingencies (Note 8)


Consolidated Statements of Operations
<TABLE>
<CAPTION>
                                                    Three months ended March 31,
(expressed in millions of U.S. dollars except per    2002          2001
share amounts) (unaudited)
Revenue                                                          (Re-stated
                                                                    Note 2)

<S>                                                 <C>          <C>
Mining revenue                                      $ 68.8       $  64.1
Interest and other income                              1.2           2.5
Mark to market (loss) gain on call options            (1.0)          3.1
                                                      69.0          69.7

Expenses
Operating                                             46.8          44.7
General and administrative                             2.3           2.7
Exploration and business development                   2.1           1.9
Depreciation, depletion and amortization              21.8          19.4
                                                      73.0          68.7
(Loss) income before the undernoted                   (4.0)          1.0
Gain on sale of marketable securities                  0.3             -
Foreign exchange (loss) gain                          (0.8)          1.2
Share in income (loss) of investee companies           0.3          (0.4)
Interest expense on long-term liabilities             (1.5)         (2.6)
Loss before taxes and dividends on convertible
         preferred shares of subsidiary company       (5.7)         (0.8)

Provision for income and mining taxes                 (1.4)         (1.0)

Loss for the period before dividends on convertible
         preferred shares of subsidiary company       (7.1)         (1.8)

Dividends on convertible preferred shares of
         subsidiary company                           (0.8)         (1.7)

Net loss for the period                               (7.9)         (3.5)

Increase in equity component of convertible
         debentures                                   (2.1)         (1.9)

Net loss attributable to common shares              $(10.0)      $  (5.4)

Net loss per share
Basic and fully diluted                             $(0.03)      $ (0.02)

Weighted average number common shares outstanding    337.7         300.9
Total outstanding and issued common shares at
         March 31                                    358.1         301.3
</TABLE>



Consolidated Statements of Cash Flows
<TABLE>
<CAPTION>
                                                                             Three months ended March 31,
(expressed in millions of U.S. dollars) (unaudited)                               2002            2001
Net inflow (outflow) of cash related to the following activities:
                                                                                              (Re-stated
                                                                                               - Note 2)
<S>                                                                             <C>            <C>
Operating:
Loss for the period before dividends on convertible preferred shares
         of subsidiary company                                                  $ (7.1)        $ (1.8)
Items not affecting cash:
         Depreciation, depletion and amortization                                 21.8           19.4
         Deferred revenue realized                                                (1.3)          (3.4)
         Site restoration cost accruals                                            0.8            0.4
         Other                                                                    (0.4)          (1.0)
                                                                                  13.8           13.6
Proceeds on restructuring of gold forward sale contracts                             -           21.1
Site restoration cash expenditures                                                (1.1)          (1.2)
Changes in non-cash working capital items
         Accounts receivable                                                       4.6           (2.6)
         Inventories                                                               1.5            0.3
         Marketable securities                                                     1.5              -
         Accounts payable and accrued liabilities                                 (0.8)           2.1
Effect of exchange rate changes on cash                                            0.4           (0.6)
Cash flow provided from operating activities                                      19.9           32.7
Financing:
         Issuance of common shares, net                                           19.0            0.2
         Acquisition of preferred shares of subsidiary company                   (11.1)             -
         Reduction of debt component of convertible debentures                    (1.3)          (1.3)
         Repayment of debt                                                       (10.5)         (24.3)
Cash flow used in financing activities                                            (3.9)         (25.4)
Investing:
         Additions to property, plant and equipment                               (3.1)         (11.5)
         Long-term investments and other assets                                      -           (1.7)
         Proceeds from the sale of property, plant and equipment                   0.1            1.0
         (Increase) decrease in restricted cash                                   (4.0)           2.9
Cash flow used in investing activities                                            (7.0)          (9.3)

Increase (decrease) in cash and cash equivalents                                   9.0           (2.0)

Cash and cash equivalents, beginning of period                                    81.0           77.8

Cash and cash equivalents, end of period                                        $ 90.0         $ 75.8
Supplementary disclosure of cash flow information:
Cash paid for:    Interest                                                      $  0.6         $  1.4
                  Taxes                                                         $  0.4         $  0.3
</TABLE>



NOTES TO FIRST QUARTER INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

1. BASIS OF PRESENTATION

The interim consolidated financial statements (the "financial statements") of
Kinross Gold Corporation (the "Company") have been prepared in accordance with
the accounting principles and methods of application disclosed in the
consolidated financial statements for the year ended December 31, 2001, except
for those indicated below.

The accompanying interim unaudited consolidated financial statements include all
adjustments that are, in the opinion of management, necessary for a fair
presentation. These financial statements do not include all disclosures required
by Canadian Generally Accepted Accounting Principles for annual financial
statements, and accordingly the financial statements should be read in
conjunction with the financial statements and notes thereto contained in the
Company's annual report for the year ended December 31, 2001.

2. NEW PRONOUNCEMENTS

Effective January 1, 2002, the Company adopted the new Canadian Institute of
Chartered Accountants ("CICA") recommendations for foreign currency translation.
This standard eliminates the practice of deferring and amortizing unrealized
translation gains and losses on foreign currency denominated monetary items that
have a fixed or ascertainable life extending beyond the end of the fiscal year
following the current reporting period. Foreign exchange gains and losses
arising on translation of these monetary items are now included in the
determination of current period losses. The Company previously had unrealized
foreign exchange gains and losses on converting the debt component of Canadian
dollar dominated convertible debentures to U.S. dollars. In addition, the
Canadian dollar denominated retractable preferred shares were translated to U.S
dollars at the historical rate on the date of issue. The adoption of this new
standard has been applied retroactively, with prior year comparative amounts
restated. The effects on the consolidated financial statements are as follows:

Change in Statement of Operations and Deficit amounts:
($ millions)                                                 2001
Increase in foreign exchange gain
         for the three months ended March 31, 2001            1.4
Decrease in net loss for the three months
         ended March 31, 2001                                (1.4)
Decrease in deficit - December 31, 2000                       2.2
Decrease in deficit - December 31, 2001                       2.8

3. FINANCIAL STATEMENTS

The Company manages its exposure to fluctuations in commodity prices, foreign
exchange rates and interest rates by entering into derivative financial
instrument contracts in accordance with the formal risk management policy
approved by the Company's Board of Directors. The Company does not hold or issue
derivative contracts for speculative or trading purposes.

Realized and unrealized gains or losses on derivative contracts, that qualify
for hedge accounting, are deferred and recorded in income when the underlying
hedged transaction is recognized. Gains on the early settlement of gold hedging
contracts are recorded as deferred revenue on the balance sheet and included in
income over the original delivery schedule of the hedged production.

Premiums received at the inception of written call options are recorded as a
liability. Changes in the fair value of the liability are recognized currently
in earnings. In the first quarter of 2002, the mark-to-market adjustments
increased the liability by $1.0 million.

4. ACQUISITION OF CONVERTIBLE PREFERRED SHARES OF SUBSIDIARY COMPANY

In 2001, the Company embarked on a strategy to reduce the outstanding book value
of the Convertible Preferred Shares of Subsidiary Company ("Kinam Preferred
Shares"). The benefit to future consolidated results would be a reduced accrual
of the dividends on the Kinam Preferred Shares and lower non-cash charges, such
as depreciation, depletion and amortization, due to a negative purchase price
discrepancy resulting from the transaction being applied to the carrying value
of property, plant and equipment since the Kinam Preferred Shares were trading
at a discount to their carrying value for financial reporting purposes. During
2001, the Company acquired 945,400 Kinam Preferred Shares with a carrying value
of $48.9 million in exchange for 24,186,492 common shares of the Company valued
at $23.2 million. The $25.7 million difference in value associated with this
transaction was applied against the carrying value of certain property, plant
and equipment.

The Company completed an equity offering in February, 2002, and issued
23,000,000 common shares from treasury for gross proceeds before costs of the
issue of $19.5 million. The majority of funds raised will be used to complete a
$16.00 per share cash tender offer for the Kinam Preferred Shares owned by
non-affiliated shareholders. On March 28, 2002, 652,992 Kinam Preferred Shares
were tendered under the cash tender offer and after extending the offer an
additional 17,730 Kinam Preferred Shares were tendered on April 4, 2002, leaving
223,878 or 12.2% of the issued and outstanding Kinam Preferred Shares held by
non-affiliated shareholders. The Company anticipates completing a merger between
Kinam and a newly created wholly owned subsidiary of the Company in which the
remaining non-affiliated shareholders will receive cash for each of their Kinam
Preferred Shares. On March 28, 2002, the 652,992 Kinam Preferred Shares tendered
had a book value of $35.6 million and were purchased by the Company for $10.4
million ($11.1 million including costs of the tender offer). The $24.5 million
difference in value associated with this transaction was applied against the
carrying value of certain property, plant and equipment.

5. STOCK OPTIONS

Effective January 1, 2002, the Company has adopted the recommendations of the
CICA for stock-based compensation and other stock-based payments. This
recommendation establishes standards for the recognition, measurement and
disclosure of stock-based compensation and other stock-based payments made in
exchange for good and services. The standard requires that all stock-based
awards made to non-employees be measured and recognized using a fair value based
method. The standard encourages the use of a fair value based method for all
awards granted to employees, but only requires the use of a fair value based
method for direct awards of stock, stock appreciation rights, and awards that
call for settlement in cash or other assets. Awards that the Company has the
ability to settle in stock are recorded as equity, whereas awards that the
Company is required to or has a practice of settling in cash are recorded as
liabilities.

The Company's stock option plan is described in note 14 of the consolidated
financial statements for the year ended December 31, 2001. The Company has
elected not to use the fair value method of accounting for stock options. As a
result, it does not recognize compensation expense nor the fair value of the
options issued to its employees. No stock-based awards are made available to
non-employees.

Had compensation expense for the stock-based compensation plans been determined
based upon the fair value method of accounting for awards granted on or after
January 1, 2002, the pro forma net loss attributed to common shares would have
amounted to $10.1 million and pro forma EPS would have remained at a loss of
$0.03 for the three month period ended March 31, 2002. The fair value of the
options granted during the three month period ended March 31, 2002 is estimated
to be $0.1 million. The fair value of each option grant is estimated on the date
of grant using the Black-Scholes option pricing model with the following
weighted average assumptions used for grants in the period ended March 31, 2002:
dividend yield of 0%, expected volatility of 63%; risk-free interest rate of
4.7%; and expected lives of 5 years. The Company has not included those options
outstanding on the date of adoption of this new recommendation in the
calculation if its pro forma earnings per share for the period.

6. (LOSS) EARNINGS PER SHARE

(Loss) earnings per share ("EPS") has been calculated using the weighted average
number of shares outstanding during the period. Diluted EPS is calculated using
the treasury stock method. The calculation of diluted earnings per share assumes
that employee stock options were exercised at the beginning of the period, or
time of issue, if later. Employee stock options with an exercise price greater
than the average market price of the common shares were not included in the
calculation of diluted earnings per share as the effect is anti-dilutive. The
average price of the common shares during the period was $1.01 (2001 - $0.52).

<TABLE>
<CAPTION>
                                                       2002              2001
<S>                                                   <C>               <C>
Weighted average number of common shares
outstanding at March 31st                             337,699           300,931

Add: Options, warrants and participating
    securities as if issued, exercised and
    outstanding at January 1st
    Options                                             3,438                 -
    Restricted shares                                      39                 -
    Convertible debentures(a)                          14,651            14,651
    Redeemable retractable
       preferred shares (b)                             3,175             3,175
       Convertible preferred shares
         of subsidiary company (c)                      1,172             8,926
Weighted average number of common
    shares used for diluted earnings
    per share.                                        360,174           327,683
</TABLE>

(a) Convertible debentures - $122.9 million (Cdn. $195.6 million) principal
issued and outstanding

(b) Redeemable retractable preferred shares - 384,613 shares issued and
outstanding

(c) Convertible preferred shares of subsidiary company - 241,608 shares issued
and outstanding to non affiliated shareholders as at March 31, 2001.

7. SEGMENTED INFORMATION

The Company operates five gold mines: Hoyle Pond, located in Ontario, Canada;
Kubaka (54.7% ownership), located in Russia; Fort Knox, located in Alaska,
United States; Blanket, located in Zimbabwe; and Refugio (50.0% ownership),
located in Chile. In addition to its producing gold mines, the Company has an
85.9% interest in E-Crete, a producer of aerated concrete, several other gold
mining assets in various stages of reclamation, closure, care and maintenance
and development, and two corporate offices in Canada and the United States. As
the products and services in each of the reportable segments, except for the
corporate activities, are essentially the same, reportable segments have been
determined at the level where decisions are made on the allocation of resources
and capital, and where complete internal financial statements are available.



<TABLE>
<CAPTION>
                                                     Reportable Operating Segments
                                                                                                             Corporate
                                    Hoyle      Kubaka    Fort Knox     Blanket      Refugio     E-Crete      and Other     Total
<S>                                 <C>        <C>       <C>           <C>          <C>         <C>          <C>           <C>
As at March 31, 2002 and for
  the three months ended
  March 31, 2002:                                                                                                (b)
Mining revenue                      $17.5      $ 15.2      $ 33.0       $   -        $ 2.2       $   -         $ 0.9      $ 68.8
Interest revenue                        -           -           -           -            -           -           0.4         0.4
Interest expense                        -         0.1         0.6           -            -         0.1           0.7         1.5
Depreciation, depletion and
  amortization                        4.7         4.7        12.4           -            -         0.4          (0.4)       21.8
Segment profit (loss)                 3.3         3.5        (7.9)          -          1.0        (1.2)         (5.0)       (6.3)
Segment assets                       85.4        66.2       309.1           -          7.5         8.3          64.5(a)    541.0
Capital expenditures                  1.7         0.1         1.0           -            -         0.2           0.1         3.1

As at March 31, 2001 and for
  the three months ended
  March 31, 2001:                                                                                                 (b)
Mining revenue                      $ 9.5      $ 14.2      $ 26.2       $ 2.6        $ 6.7       $   -         $ 4.9      $ 64.1
Interest revenue                        -         0.4           -         0.2            -         0.1           0.8         1.5
Interest expense                        -         0.4         1.2           -          0.1         0.1           0.8         2.6
Depreciation, depletion and
  amortization                        3.5         5.5         8.2         0.6            -         0.1           1.5        19.4
Segment profit (loss)                (2.0)        0.9        (2.1)       (0.2)         1.2        (0.7)          2.5        (0.4)
Segment assets                       92.9       120.1       344.9        12.2         11.4         7.8          93.8(a)    683.1
Capital expenditures                  3.0         0.2         7.9         0.1            -           -           0.3        11.5
</TABLE>


(a)  includes $75.8 million (2001 - $48.5 million) in cash and cash equivalents
     held at the Corporate level

(b)  includes Corporate and other non core mining operations




RECONCILIATION OF REPORTABLE OPERATING SEGMENT (LOSS) PROFIT
TO NET LOSS FOR THE PERIOD:
<TABLE>
<CAPTION>
                                          Three months ended March 31,
                                               2002              2001

<S>                                           <C>              <C>
Segment loss                                  $ (1.3)          $  (2.9)
Add (deduct) items not included
         in segment (loss) profit:
         Corporate and other                    (5.0)              2.5
                                                (6.3)             (0.4)

Gain on sale of marketable securities            0.3               --
Share in income (loss) of investee companies     0.3             (0.4)
Provision for income taxes                      (1.4)            (1.0)
Dividends on convertible preferred shares
         of subsidiary company                  (0.8)            (1.7)
Net loss for the period                       $ (7.9)          $ (3.5)
</TABLE>



ENTERPRISE - WIDE DISCLOSURE:
GEOGRAPHIC INFORMATION:
<TABLE>
<CAPTION>
                                Mining revenue          Mineral properties,
                                                        plant and equipment

                          Three months ended March 31,     As at March 31,
                              2002     2001              2002         2001
<S>                        <C>        <C>              <C>        <C>
United States              $ 33.3     $  30.0          $ 255.9    $ 337.7
Russia                       15.2        14.2             26.2       47.9
Chile                         2.2         7.1               --         --
Other                          --         2.5              5.1       15.1
Total foreign                50.7        53.8            287.2      400.7
Canada                       18.1        10.3             86.9       92.1
Total                      $ 68.8     $  64.1          $ 374.1    $ 492.8
</TABLE>



8. CONTINGENCIES

The Company conducts business in Russia through its subsidiary, Omolon Gold
Mining Company ("Omolon") which is owned 45.3 % by Russian shareholders. One of
the Russian shareholders has asserted that the original issuance of shares was
flawed due to a failure to follow certain registration procedures. As a result,
the shareholder claims the share issuance is null and void. The shareholder is
claiming approximately $43.0 million to cover its original investment plus
compounded interest. The Company has been advised by its counsel that Omolon has
good defences available to it and is confident that Omolon will successfully
defend the lawsuit. However, the interpretation and application of the laws of
the Russian Federation may be subject to policy changes reflecting domestic
political changes or other considerations. Moreover, because of the developing
nature of the Russian legal system and the fact that the interpretation and
application of many laws are untested, it is difficult to predict with certainty
how they may be interpreted and applied in a particularly case. As a
consequence, other or additional penalties or remedies may be imposed. These
remedies may, in addition to imposing financial obligations, otherwise adversely
affect the operations or status of Omolon including a possible order that none
of the issued shares of Omolon are valid. Other Russian shareholders are
threatening to assert similar claims.

The Company has been named as a defendant in a class action complaint filed on
or about April 26, 2002, entitled Robert A. Brown, et al.v. Kinross Gold U.S.A.,
Inc., et al., Case No. CV-S-02-0605-KJD-RJJ, brought in the United States
District Court for the District of Nevada. The complaint names as defendants the
Company, its subsidiary, Kinross Gold U.S.A., Inc., its subsidiary Kinam Gold
Inc., and Robert M. Buchan. The complaint is based on claims arising out of the
purchase of the Kinam Preferred Shares by the Company. The complaint seeks
damages in cash or by the issuance of common shares of the Company. The Company
believes this claim is without merit and plans to vigorously defend the
litigation.

9. 2001 FIGURES

Certain of the 2001 figures have been reclassified to conform to the 2002
presentation.

10. SUBSEQUENT EVENT

On April 11, 2002, the Company signed a letter of agreement with a wholly owned
subsidiary of Placer Dome Inc. ("Placer") to form a joint venture that will
combine the two companies' respective gold mining operations in the Porcupine
district in Ontario, Canada. Placer will own a 51% interest and the Company will
own a 49% interest in the Porcupine Area Joint Venture, which will be operated
by a Placer affiliate. Placer will contribute the Dome mine and mill and the
Company will contribute the Hoyle Pond, Pamour and Nighthawk Lake mines as well
as the Bell Creek mill. Future capital and operating costs will be shared in
proportion to each party's ownership interest. Management is currently assessing
the potential financial impact of this Joint Venture on the carrying value of
the assets contributed to the Joint Venture by the Company.




DIRECTORS

John A. Brough
President
Torwest Inc.

Robert M. Buchan
Chairman and
Chief Executive Officer
Kinross Gold Corporation

Arthur H. Ditto
Vice-Chairman
Kinross Gold Corporation

John M.H. Huxley
Principal
Algonquin Power Corporation

John A. Keyes
Retired Mining Executive

Cameron A. Mingay
Partner
Cassels, Brock & Blackwell LLP

John E. Oliver
Executive Managing
Director and Co-head
Scotia Capital U.S.
Bank of Nova Scotia

OFFICERS

Robert M. Buchan
Chairman and
Chief Executive Officer

Arthur H. Ditto
Vice-Chairman

Scott A. Caldwell
President and
Chief Operating Officer

John W. Ivany
Executive Vice President

Brian W. Penny
Vice President, Finance
and Chief Financial Officer


Jerry W. Danni
Vice President,
Environmental Affairs

Christopher T. Hill
Vice President, Treasurer

Gordon A. McCreary
Vice President,
Investor Relations and Corporate Development

Ronald W. Stewart
Vice President, Exploration

Allan D. Schoening
Vice President,
Human Resources and Community Relations

Shelley M. Riley
Corporate Secretary

CORPORATE OFFICE

52nd Floor, Scotia Plaza
40 King St. West
Toronto, Ontario
Canada M5H 3Y2
Tel: (416) 365-5123
Fax: (416) 363-6622
Email: info@kinross.com
Website: www.kinross.com

U.S. OFFICE

Suite 100,
802 E. Winchester,
Murray, UT 84107
Tel: (801) 290-1101
Fax: (801) 290-1102

TRANSFER AGENT
& REGISTRAR

Computershare Trust
Company of Canada,
Toronto, Ontario
Tel: (416) 981-9633 or
     (800) 663-9097

Computershare Trust
Company Inc.
Denver, Colorado
Tel: (303) 986-5400


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>6
<FILENAME>kin6kex99d.txt
<DESCRIPTION>EXHIBIT 99D
<TEXT>


                                                                     Exhibit 99d
                                                                     -----------


FIRST QUARTER CONSOLIDATED RESULTS

Gold equivalent production of 225,302 ounces at total cash costs of $197 per
ounce, combined with positive changes in working capital resulted in cash flow
provided from operating activities of $19.9 million or $0.06 per share during
the first quarter of 2002. This compares to gold equivalent production of
239,352 ounces at total cash costs of $191 per ounce that resulted in cash flow
provided from operating activities of $32.7 million or $0.11 per share during
the first quarter of 2001, which included $21.1 million or $0.07 per share of
proceeds from the restructuring of gold forward sales contracts. The Company
recorded a net loss of $7.9 million or $0.03 per share for the first quarter of
2002, compared to a net loss of $3.5 million or $0.02 per share for the first
quarter of 2001. The 2001 first quarter results as well as the December 31, 2001
balance sheet have been restated to comply with the new Canadian GAAP treatment
of unrealized foreign exchange gains (see Note 2 to the Consolidated Financial
Statements for details of this restatement).

REVENUES

Gold and Silver Sales The Company's primary source of revenue is from the sale
of its gold production. The Company sold 231,673 ounces of gold during the first
quarter of 2002, compared with 229,909 ounces in 2001. Revenue from gold and
silver sales was $68.8 million in the first quarter of 2002 compared with $64.1
million in 2001. Revenue from gold and silver sales in the first quarter of 2002
was higher than 2001 due to higher realized prices. In the first quarter of
2002, the Company realized $295 per ounce of gold, compared with $277 in 2001.
The average spot price for gold was $290 per ounce in the first quarter of 2002
compared with $264 in 2001.

SUMMARY INFORMATION

<TABLE>
<CAPTION>
                                                 Three months ended March 31,
                                                     2002              2001
<S>                                                <C>              <C>
Attributable gold equivalent production
 - ounces                                          225,302          239,352
Attributable gold production
 - ounces                                          223,956          237,392
Gold sales - ounces
 (excluding equity accounted ounces)               231,673          229,603
Gold revenue (millions)                             $ 68.3           $ 63.6
Average realized gold price per ounce               $  295           $  277
Average spot gold price per ounce                   $  290           $  264
</TABLE>

Included in gold equivalent production is silver production converted to gold
production using a ratio of the average spot market prices of gold and silver
for the two comparative periods. The resulting ratios are 64.70:1 in 2002 and
58.06:1 in 2001.

Interest and Other Income The Company invests its surplus cash in high quality,
interest-bearing cash equivalents. Interest and other income during the first
quarter of 2002 totaled $1.2 million compared with $2.5 million in 2001.
Interest and other income in the first quarter of 2002 declined due to lower
interest earned on cash deposits due to substantially lower interest rates.




Mark-to-Market Gain (Loss) on Written Call Options Premiums received at the
inception of written call options are recorded as a liability at the time of
issuance. Changes in the fair value of the liability are recognized in earnings.
The change in fair value of the written call options during the first quarter of
2002 resulted in a mark to market loss of $1.0 million compared with a gain of
$3.1 million in 2001.

COSTS AND EXPENSES

Operating Costs Gold sales in the first quarter of 2002, (excluding equity
accounted ounces) increased by 1% when compared with 2001 first quarter sales,
while operating costs increased by 5%. Consolidated operating costs were $46.8
million in the first quarter of 2002 compared to $44.7 million in 2001. Total
cash costs per ounce of gold equivalent produced were $197 in the first quarter
of 2002 compared to $191 in 2001. Total cash costs per ounce of gold equivalent
in the first quarter of 2002, when compared to 2001, improved at the Hoyle Pond
mine, remained constant at the Kubaka mine and increased at the Fort Knox mine.

The following table provides a reconciliation of operating costs per the
consolidated financial statements to operating costs for per ounce calculation
of total cash costs pursuant to the Gold Institute guidelines.

RECONCILIATION OF TOTAL CASH COSTS PER EQUIVALENT
OUNCE OF GOLD TO CONSOLIDATED FINANCIAL STATEMENTS

(millions except production                        Three months ended March 31,
in ounces and per ounce amounts)                      2002              2001

Operating costs per financial statements           $  46.8          $  44.7
Kinross' share of Dayton's operating costs             1.5              2.1
Blanket mine operating costs                           2.5               --
Site restoration cost accruals                        (0.8)            (0.4)
Change in bullion inventory and other                 (5.7)            (0.8)
Operating costs for per ounce
 calculation purposes                              $  44.3          $  45.6
Gold equivalent production - ounces                225,302          239,352
Total cash costs per equivalent ounce of gold      $   197          $   191

Details of the individual mine performance are discussed in the following
sections.


Fort Knox Mine The Fort Knox open pit mine, located near Fairbanks, Alaska
includes the results of operations for both the True North and Fort Knox open
pit mines. Gold equivalent production in the first quarter of 2002 was 93,160
ounces compared to 100,347 in 2001. During the first quarter of 2002, total cash
costs were $256 per ounce of gold equivalent compared to $186 in 2001. Cash
production costs were $5.2 million higher than the first quarter of 2001 due
primarily to the operation of the True North mine, which was not active during
the same period in 2001. Total cash costs per ounce exceeded plan by 7% due
primarily to lower than reserve grades coming from the Fort Knox open pit. The
current mine plan has mining of this lower grade portion of the Fort Knox open
pit ending in the second quarter of 2002. The True North open pit provided
slightly higher than anticipated grades demonstrating a much-improved
reconciliation with the revised True North reserve model. Also impacting costs
during the first quarter of 2002 when compared to 2001 was significant planned
maintenance spending on the Fort Knox operating fleet. This maintenance effort
will be completed early in the second quarter resulting in reduced costs and
higher equipment availability and production for the remainder of the year.
Estimated production and total cash costs per ounce for the year remain
unchanged from previous estimates of 440,000 ounces of gold equivalent at total
cash costs of $210 per ounce.

Capital expenditures at the Fort Knox operations during the first quarter of
2002 were $1.0 million compared with $7.9 million during 2001. Capital
expenditures during the first quarter of 2002 involved engineering and design
work on the new thickener at the Fort Knox mill and the purchase of a road
grader for the True North mine.

Hoyle Pond Mine The Hoyle Pond underground mine is located in Timmins, Ontario.
Gold equivalent production in the first quarter of 2002 was 53,476 ounces
compared to 36,066 ounces in 2001. In the first quarter of 2002, total cash
costs were $144 per ounce of gold equivalent compared to $208 in 2001. Cash
production costs were on plan during the first quarter of 2002, unchanged from
2001. Higher gold equivalent production due to a 28% increase in the grade of
ore processed, and a 7% increase in mill tonnages processed, resulted in the
lower per ounce total cash costs.

Capital expenditures at the Hoyle Pond operations during the first quarter of
2002 were $1.7 million compared to $3.0 million during 2001. Capital
expenditures during the first quarter of 2002 were required to further advance
the 1060 ramp, underground development drilling and underground fleet
replacements.

The Company is currently involved in completing due diligence and negotiating
the joint venture agreement with Placer Dome Inc. that will combine the two
companies operations in the Porcupine mining camp located in Timmins, Ontario.
Once completed and effective, which is anticipated to be early in the third
quarter of 2002, the Company will provide revised estimates of its share of
production, total cash costs and capital expenditures for 2002. Preliminary
expectations, based on an assumed effective date of July 1, 2002 for the joint
venture are for Kinross Timmins gold production in 2002 to grow to almost
200,000 ounces at total cash costs of approximately $175 per ounce.


Kubaka Mine (54.7% Ownership Interest) The Kubaka open pit mine is located in
the Magadan Oblast in the Russian Far East. The Company's share of gold
equivalent production in the first quarter of 2002 was 56,645 ounces compared to
56,175 ounces in 2001. In the first quarter of 2002, total cash costs were $141
per gold equivalent ounce unchanged from 2001. The Kubaka mine continues to
perform exceptionally well. Cash production costs were on plan during the first
quarter of 2002, unchanged from 2001. In the first quarter of 2002, mill
tonnages processed declined by 7%, which was compensated by an 8% increase in
the grade of the ore processed.

Open pit mining operations at Kubaka will continue until the third quarter of
2002. After the open pits are exhausted, gold reserves will be mined in the
North High Wall, Center Zone and North Vein using underground mining methods.
This program is scheduled to start in the third quarter of 2002 and continue
through the second quarter of 2003. Currently, final approval of mine plans is
being sought for these projects.

Exploration activities at the Birkachan project continued during the quarter.
The Company completed a preliminary estimate of mineral resources for the
Birkachan project during the first quarter. The Company is pleased to announce
the inferred resources (100% basis) are estimated to contain 726,700 tonnes at a
grade of 18.76 grams per tonne for approximately 438,000 ounces of gold. The
Company has commenced the process of converting the exploration license at
Birkachan to a mining license.

Other Operations In addition to its primary operating mines, the Company has
ownership interests in other locations including the Refugio mine, which is in
residual leach production and the Blanket mine in Zimbabwe. Gold equivalent
production at these locations during the first quarter of 2002 was a total of
22,021 ounces of gold equivalent at total cash costs of $219 per ounce.

OTHER EXPENSES

General, administration and exploration expenditures totaled $4.4 million in the
first quarter of 2002 compared with $4.6 million in 2001. The Company continues
to focus on containment of its overhead costs, but anticipates higher
exploration spending during the next three quarters. Exploration activities will
increase as the Company completes the exploration programs required to expend
the flow-through funds raised in late 2001.

Depreciation, Depletion and Amortization Depreciation, depletion and
amortization totaled $21.8 million during the first quarter of 2002 compared
with $19.4 million in 2001. Depreciation, depletion and amortization have
increased to $94 per equivalent ounce of gold sold in the first quarter of 2002
from $84 in 2001. Depreciation, depletion and amortization increased primarily
due to a change in the mix of production at the Fort Knox Mine. The True North
production has a higher per ounce charge than the Fort Knox production.

Interest Expense on Long-Term Liabilities Interest expense on long-term
liabilities totaled $1.5 million during the first quarter of 2002, compared with
$2.6 million in 2001. Interest expense on long-term liabilities during the first
quarter of 2002 is comprised of $0.6 million related to the Fort Knox industrial
revenue bonds and capital leases, $0.7 million on the debt component of
convertible debentures and the balance on the Kubaka project financing debt.
Interest expense decreased in 2002 due to lower debt balances outstanding and
lower interest rates.

Provision for Income and Mining Taxes Provision for income and mining taxes
totaled $1.4 million during the first quarter of 2002 compared with $1.0 million
in 2001. Income taxes during the first quarter of 2002 were comprised of $1.3
million of Russian income taxes and Canadian large corporations tax of $0.1
million.

Dividends on Convertible Preferred Shares of Subsidiary Company Cumulative
dividends accrued on the convertible preferred shares of subsidiary company
("Kinam Preferred Shares") held by non-affiliated shareholders were $0.8 million
during the first quarter of 2002 compared with $1.7 million in 2001. A lower
number of Kinam Preferred Shares held by non-affiliated shareholders when
compared with the first quarter of 2001 resulted in the lower dividend accrual.

LIQUIDITY AND FINANCIAL RESOURCES

Operating Activities Cash flow provided from operating activities during the
first quarter of 2002 was $19.9 million compared with $32.7 million in 2001.
Included in the first quarter 2001 cash flow from operating activities was $21.1
million of cash flow generated upon the restructuring of certain spot deferred
forward sales contracts. The first quarter 2002 cash flow from operating
activities was positively effected by nominally higher gold sales and a 6%
increase in average realized gold prices. The 2002 cash flow from operating
activities was used to finance capital expenditures and service existing debt.

Financing Activities During the first quarter of 2002, the Company completed an
equity issue and issued 23.0 million common shares from treasury for net
proceeds of $18.5 million. The majority of the funds received were used on March
28, 2002 to acquire Kinam Preferred Shares with a book value of $35.6 million
for $10.4 million ($11.1 million including costs of the tender offer).

The debt component of convertible debentures was reduced by $1.3 million during
the first quarter of 2002 compared to $1.3 million during 2001. Long-term debt
repayments were $10.5 million during the first quarter of 2002 compared to $24.3
million during 2001. Long-term debt repayments during the first quarter of 2002
were comprised of $9.0 million of the Fort Knox industrial revenue bonds, $1.0
million of capital leases and $0.5 million of Kubaka project financing debt.

The Company did not declare and pay any dividends on the Kinam Preferred Shares
during the first quarter of 2002 or 2001.

As at March 31, 2002, the Company had a $50.0 million operating line of credit
in place with a bank syndicate, which is utilized for letters of credit
purposes. As at March 31, 2002, $54.0 million of letters of credit were issued
under this facility, which required the Company to restrict $4.0 million of cash
as security for the excess letters of credit outstanding. The Company has
extended the final maturity date of the operating line of credit to April 2,
2003. The Company is currently in the process of re-marketing this credit
facility with the intention of increasing its size and extending the final
maturity date.

As at March 31, 2002, the Company's long-term debt consists of $3.7 million
relating to the Kubaka project financing, $40.0 million of Fort Knox industrial
revenue bonds and various capital leases and other debt of $9.9 million. The
current portion of the long-term debt is $22.1 million.

Investing Activities Capital expenditures decreased by 73% in the first quarter
of 2002 compared with 2001. During the first quarter of 2002, $3.1 million was
spent on capital additions, compared to $11.5 million in 2001. The first quarter
2002 capital expenditures focused primarily on the Hoyle Pond and Fort Knox
operations with 90% of total capital expenditures incurred at these two mines.
Capital expenditures were financed out of cash flow from operating activities.

Commodity Price Risks The Company has entered into gold forward sales contracts,
spot deferred forward sales contracts and written call options for some portion
of expected future production to mitigate the risk of adverse price
fluctuations. The Company does not hold these financial instruments for
speculative or trading purposes. The Company is not subject to margin
requirements on any of its hedging lines.

The outstanding number of ounces, average expected realized prices and
maturities for the gold commodity derivative contracts as at March 31, 2002 are
as follows:
<TABLE>
<CAPTION>
                  Ounces                     Call Options            Average
                  Hedged            Average          Sold             Strike
Year              000 0z            Price          000 0z              Price

<C>                 <C>             <C>                <C>          <C>
2002                225             $ 285              50           $   340
2003                138               277             100               320
2004                138               277              50               340
2005                 38               296              --                --
Total                                 539                               200
</TABLE>

The fair value of the call options sold is recorded in the financial statements
at each measurement date. The fair value of the gold forward sales and spot
deferred forward sales contracts was negative $14.2 million.

CONTINGENCIES

The Company has been named as a defendant in a class action complaint filed on
or about April 26, 2002, entitled Robert A. Brown, et al.v. Kinross Gold U.S.A.,
Inc., et al., Case No. CV-S-02-0605-KJD-RJJ, brought in the United States
District Court for the District of Nevada. The complaint names as defendants the
Company, its subsidiary, Kinross Gold U.S.A., Inc., its subsidiary Kinam Gold
Inc., and Robert M. Buchan. The complaint is based on claims arising out of the
purchase of the Kinam Preferred Shares by the Company. The complaint seeks
damages in cash or by the issuance of common shares of the Company. The Company
believes this claim is without merit and plans to vigorously defend the
litigation.

OUTLOOK

As at March 31, 2002, the Company has $78.3 million of working capital, which
includes a strong cash balance. The Company is continually focused on improving
its balance sheet by reducing its obligations. In addition, the recently
announced intent to form the Porcupine Area Joint Venture with Placer Dome
combined with improved cash flow from operating activities due to higher spot
gold prices should allow the Company to pursue opportunities as they present
themselves.

Mr. Buchan, Chairman and CEO, is also pleased to announce the appointment of Mr.
Scott Caldwell to the positions of President and Chief Operating Officer. Mr.
Caldwell, previously Senior Vice President of Operations for Kinross, assumes
this role following the appointment of Art Ditto, previously President and COO,
to the position of Vice Chairman. Mr. Buchan stated "We welcome Scott to his new
positions and thank Art for his contributions over the years and we look forward
to his continued strategic counsel to the Company's operations and development
efforts in his new role."


Robert M. Buchan
Chairman and Chief Executive Officer
April 30, 2002




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>7
<FILENAME>kin6kex99e.txt
<DESCRIPTION>EXHIBIT 99E
<TEXT>


                                                                     EXHIBIT 99e


                            KINROSS GOLD CORPORATION
                             MATERIAL CHANGE REPORT




Item 1.   Reporting Issuer

The  reporting  issuer  filing  this  material  change  report is  Kinross  Gold
Corporation ("Kinross").

Item 2.   Date of Material Change

January 22, 2002

Item 3.   Press Release

Press  release was issued by Kinross in Toronto on January 22, 2002 with respect
to the material change and filed via SEDAR.

Item 4.   Summary of Material Change

Kinross  announced  that it had entered into an  underwriting  agreement  with a
syndicate of  underwriters  led by CIBC World Markets Inc., RBC Capital  Markets
Inc. and Scotia Capital Inc. , under which the  underwriters  have agreed to buy
and sell to the public  20,000,000  common shares of the Company from  treasury,
with an option for an additional  3,000,000 common shares,  exercisable 48 hours
prior to closing.

Item 5.   Full Description of Material Change

Kinross  announced  that it had entered into an  underwriting  agreement  with a
syndicate of  underwriters  led by CIBC World Markets Inc., RBC Capital  Markets
Inc. and Scotia Capital Inc. , under which the  underwriters  have agreed to buy
and sell to the public  20,000,000  common shares of the Company from  treasury,
with an option for an additional  3,000,000 common shares,  exercisable 48 hours
prior to closing.

The purchase  price of Cdn. $1.35 per Common Share will result in gross proceeds
of Cdn. $27 million,  assuming that the  over-allotment  option is not exercised
and an additional $4.05 million if the over-allotment option is fully exercised.
The transaction is subject to the receipt of all necessary  regulatory and stock
exchange approvals. Closing is expected on or about February 12, 2002.

The  securities  offered have not been  registered  under the  Securities Act of
1933,  as amended,  and may not be offered or sold in the United  States  absent
registration or an applicable exemption from the registration requirements. This
press release shall not  constitute an offer to sell or the  solicitation  of an
offer to buy,  nor  shall  there be any sale of the  securities  in any State in
which such offer, solicitation or sale would be unlawful.

Item 6.   Reliance  on  Section  75(3)  of  the  Securities  Act  (Ontario)  and
analogous securities legislation of each of the other provinces of Canada.

N/A

Item 7.   Omitted Information

N/A

Item 8.   Senior Officer

         Ms. Shelley M. Riley




<PAGE>


                                        2


         Corporate Secretary
         Telephone: (416) 365-5198
         Facsimile: (416) 365-0237

Item 9.   Statement of Senior Officer

          The foregoing  accurately  discloses the material  change  referred to
          herein.

          DATED at Toronto this 22nd day of January, 2002.

                                             KINROSS GOLD CORPORATION


                                             PER:   Shelley M. Riley/
                                                    -----------------
                                                    Shelley M. Riley
                                                    Corporate Secretary



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>8
<FILENAME>kin6kex99f.txt
<DESCRIPTION>EXHIBIT 99F
<TEXT>


                                                                     EXHIBIT 99f


                            KINROSS GOLD CORPORATION
                             MATERIAL CHANGE REPORT




Item 1.   Reporting Issuer

The  reporting  issuer  filing  this  material  change  report is  Kinross  Gold
Corporation ("Kinross").

Item 2.   Date of Material Change

February 4 and February 5, 2002.

Item 3.   Press Release

Press  release  was issued by Kinross in Toronto on  February 4 and  February 5,
2002 with respect to the material changes and filed via SEDAR.

Item 4.   Summary of Material Change

On February 4, 2002 the  Corporation  announced  it has advised  Kinam Gold Inc.
that it is  considering a potential  tender offer to acquire the shares from the
non-affiliated  holders of the Kinam Preferred  shares.  On February 5, 2002 the
Corporation announced that due to the continuing  uncertainties  associated with
the political and economic situation in Zimbabwe, the Corporation has determined
to write off its investment in the Blanket mine.

Item 5.   Full Description of Material Change

On February 4, 2002 the  Corporation  announced today that it has informed Kinam
Gold Inc. ("Kinam"; Amex-KGC.pr.B) that it is considering a cash tender offer of
$16.00 per share for the 894,600  shares of Kinam's  $3.75 Series B  Convertible
Preferred Shares not already owned by Kinross. Kinross currently owns all of the
common shares of Kinam and 945,400 of the 1,840,000 issued and outstanding Kinam
preferred shares. Commencement of the formal tender offer is subject to a number
of conditions,  including the completion of a financing by Kinross  announced on
January 22, 2002,  which Kinross  anticipates  will be completed by February 12,
2002,  and a  determination  by the Board of Directors of both Kinross and Kinam
that the offer is fair to the  non-affiliated  holders of the preferred  shares.
There can be no assurance that these  conditions  will be met or that the tender
offer will be made by Kinross.  The formal  offer,  if made,  will be subject to
such terms and conditions as may be set forth in the tender offer documents.

Kinross has not made a final  determination  to proceed  with the tender  offer.
securities  offered in the Kinross financing have not and will not be registered
under the United States  Securities  Act of 1933, as amended and may not be sold
in the United States absent  registration  or an applicable  exemption  from the
registration  requirements.  Holders of the $3.75  Series B preferred  stock are
advised  to read the Tender  Offer  Statement  if and when it becomes  available
because it will contain important information. if a tender offer is commenced by
Kinross,  investors will be able to obtain copies of the tender offer  statement
and other filed  documents for free at the Securities and Exchange  Commission's
website at  www.sec.gov.  Holders of $3.75 Series B Preferred Stock will also be
able to obtain the Tender  Offer  Statement,  letter of  transmittal,  and other
offering documents for free from Knross at the Scotia Plaza, 52nd Floor, 40 King
Street West,  Toronto,  Ontario M5H 3Y2 Canada,  Attn: Shelley Riley,  Telephone
Number (416) 365-5198.

On February 5, 2002 Kinross  announced that due to the continuing  uncertainties
associated  with  the  political  and  economic   situation  in  Zimbabwe,   the
Corporation has determined to write off its $11.8 million investment in the




<PAGE>


                                        2


Blanket mine, effective as of the court quarter of 2001. The Corporation intends
to continue to operate the Blanket mine so long as conditions permit.

Item 6.   Reliance  on  Section  75(3)  of  the  Securities  Act  (Ontario)  and
analogous securities legislation of each of the other provinces of Canada.

N/A

Item 7.   Omitted Information

N/A

Item 8.   Senior Officer

         Ms. Shelley M. Riley
         Corporate Secretary
         Telephone: (416) 365-5198
         Facsimile: (416) 365-0237

Item 9.  Statement of Senior Officer

          The foregoing  accurately  discloses the material  change  referred to
          herein.

          DATED at Toronto this 5th day of February, 2002.

                                             KINROSS GOLD CORPORATION


                                             PER:   Shelley M. Riley/
                                                    -----------------
                                                    Shelley M. Riley
                                                    Corporate Secretary



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>9
<FILENAME>kin6kex99g.txt
<DESCRIPTION>EXHIBIT 99G
<TEXT>


                                                                     EXHIBIT 99g


                            KINROSS GOLD CORPORATION
                             MATERIAL CHANGE REPORT




Item 1.   Reporting Issuer

The  reporting  issuer  filing  this  material  change  report is  Kinross  Gold
Corporation ("Kinross").

Item 2.   Dates of Material Changes

February 12, 2002.

Item 3.   Press Releases

Press release was issued by Kinross in Toronto on February 12, 2002 with respect
to the material changes and filed via SEDAR.

Item 4.   Summary of Material Change

On February 12, 2002 Kinross  announced  that it had  completed  the  previously
announced sale of 20,000,000  common shares to a syndicate of  underwriters  and
the  exercise  by the  underwriters  of the  option to  purchase  an  additional
3,000,000  common  shares  resulted in the aggregate  sale of 23,000,000  common
shares for gross proceeds of Cdn. $31,050,000.

Item 5.   Full Description of Material Change

Kinross Gold Corporation (TSE-K; Amex-KGC) announced today that it has completed
the  previously  announced  sale of  20,000,000  common shares to a syndicate of
underwriters  comprising CIBC World Markets Inc., RBC Dominion  Securities Inc.,
Scotia  Capital  Inc. and  Canaccord  Capital  Corporation.  The exercise by the
underwriters  of the option to purchase an  additional  3,000,000  common shares
resulted in the aggregate sale of 23,000,000 common shares for gross proceeds of
Cdn.  $31,050,000.  The net  proceeds  of  this  offering  will be used  for the
previously   announced  proposed  acquisition  of  $3.75  Series  B  Convertible
Preferred Shares of Kinam Gold Inc.  (Amex-KGC.pr.B)  by way of tender offer, if
such offer is made, and to the extent the net proceeds are not required for such
purpose, for general corporate purposes.

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.  Such  statements  involve various risks and  uncertainties,  including
changes  in the price of gold;  the  absence  of  material  changes  in  general
economic conditions;  and the final determinations of the Boards of both Kinross
and Kinam  that the  offer is fair to the  non-affiliated  holders  of the Kinam
Preferred  Shares.  The occurrence of any one or more of these risks could cause
actual results and future events to differ  materially from those anticipated in
the forward-looking statements.

KINROSS HAS NOT MADE A FINAL  DETERMINATION  TO PROCEED  WITH THE TENDER  OFFER.
SECURITIES  OFFERED IN THE KINROSS FINANCING HAVE NOT AND WILL NOT BE REGISTERED
UNDER THE UNITED STATES  SECURITIES  ACT OF 1933, AS AMENDED AND MAY NOT BE SOLD
IN THE UNITED STATES ABSENT  REGISTRATION  OR AN APPLICABLE  EXEMPTION  FROM THE
REGISTRATION REQUIREMENTS.  HOLDERS OF THE KINAM PREFERRED SHARES ARE ADVISED TO
READ THE TENDER OFFER STATEMENT IF AND WHEN IT BECOMES AVAILABLE BECAUSE IT WILL
CONTAIN  IMPORTANT  INFORMATION.  IF A TENDER  OFFER IS  COMMENCED  BY  KINROSS,
INVESTORS WILL BE ABLE TO OBTAIN COPIES OF THE TENDER OFFER  STATEMENT AND OTHER
FILED DOCUMENTS FOR FREE AT THE SECURITIES AND EXCHANGE  COMMISSION'S WEBSITE AT
www.sec.gov.  HOLDERS OF KINAM PREFERRED  SHARES WILL ALSO BE ABLE TO OBTAIN THE
TENDER OFFER STATEMENT,




<PAGE>


                                        2


LETTER OF TRANSMITTAL, AND OTHER OFFERING DOCUMENTS FOR FREE FROM KINROSS AT THE
SCOTIA PLAZA, 52nd FLOOR, 40 KING STREET WEST, TORONTO,  ONTARIO M5H 3Y2 CANADA,
ATTN: SHELLEY RILEY, TELEPHONE NUMBER (416) 365-5198.

Item 6.   Reliance  on  Section  75(3)  of  the  Securities  Act  (Ontario)  and
analogous securities legislation of each of the other provinces of Canada.

N/A

Item 7.   Omitted Information

N/A

Item 8.   Senior Officer

         Ms. Shelley M. Riley
         Corporate Secretary
         Telephone: (416) 365-5198
         Facsimile: (416) 365-0237

Item 9.   Statement of Senior Officer

          The foregoing  accurately  discloses the material  change  referred to
          herein.

          DATED at Toronto this 12th day of February, 2002.

                                             KINROSS GOLD CORPORATION


                                             PER:   Shelley M. Riley/
                                                    -----------------
                                                    Shelley M. Riley
                                                    Corporate Secretary



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>10
<FILENAME>kin6kex99h.txt
<DESCRIPTION>EXHIBIT 99H
<TEXT>


                                                                     EXHIBIT 99h


                            KINROSS GOLD CORPORATION
                             MATERIAL CHANGE REPORT




Item 1.   Reporting Issuer

The  reporting  issuer  filing  this  material  change  report is  Kinross  Gold
Corporation ("Kinross").

Item 2.   Dates of Material Changes

February 13, 2002.

Item 3.   Press Releases

Press release was issued by Kinross in Toronto on February 13, 2002 with respect
to the material changes and filed via SEDAR.

Item 4.   Summary of Material Change

On February  13, 2002 Kinross  announced  the  financial  results and summary of
reserve and resources as at December 31, 2001.

Item 5.   Full Description of Material Change

See attached press release dated February 13, 2002.

Item 6.   Reliance  on  Section  75(3)  of  the  Securities  Act  (Ontario)  and
analogous securities legislation of each of the other provinces of Canada.

N/A

Item 7.   Omitted Information

N/A

Item 8.   Senior Officer

         Ms. Shelley M. Riley
         Corporate Secretary
         Telephone: (416) 365-5198
         Facsimile: (416) 365-0237




<PAGE>


                                       2


Item 9.   Statement of Senior Officer

          The foregoing  accurately  discloses the material  change  referred to
          herein.


          DATED at Toronto this 20th day of February, 2002.

                                             KINROSS GOLD CORPORATION


                                             PER:   Shelley M. Riley/
                                                    -----------------
                                                    Shelley M. Riley
                                                    Corporate Secretary




<PAGE>


                                                                      Attachment
                                                                      ----------


                            Press Release                     February 13, 2002


Toronto, Ontario - Kinross Gold Corporation (TSE-K; Amex-KGC) announced today
the results for the three months and year ended December 31, 2001 are as
follows:

All results are expressed in United States dollars unless otherwise stated.

In 2001, Kinross produced more gold equivalent ounces at lower total cash costs
per ounce than the previous year. The improved cash flow from operations allowed
the Company to reduce long-term debt by $46.5 million while the Company's cash
balance increased by $3.2 million to $81 million. Robert M. (Bob) Buchan,
Chairman and Chief Executive Officer, stated "We are quite rightly proud of our
operational and financial accomplishments in 2001, particularly considering the
weak gold price environment during most of the year. Kinross enters 2002 as a
much stronger company poised to participate significantly in an improving gold
price environment".

Full Year

The Company's share of attributable production was 944,803 gold equivalent
ounces in 2001, a nominal increase when compared to 2000 production of 943,798
ounces. Average total cash costs per gold equivalent ounce decreased by 4%, to
$193 in 2001, compared to $202 in 2000. Cash flow provided from operating
activities for 2001 was $74.5 million or $0.24 per share. This compares to cash
flow provided by operating activities of $47.8 million or $0.16 per share in
2000. Cash flow provided from operating activities increased in 2001 due to
lower production costs, lower exploration spending, and an increase in the
proceeds on restructuring of the gold forward sales contracts when compared to
2000. In 2001, $16.1 million of non-cash write-downs of property plant and
equipment of which the largest component was an $11.8 million write-down of the
Blanket mine due to the continued political uncertainty in Zimbabwe, resulted in
a $36.9 million, or $0.14 per share net loss for the year. This compares to a
$126.1 million, or $0.45 per share loss in 2000 when write-downs totaled $85.2
million.

Fourth Quarter

Gold equivalent production of 238,244 ounces at total cash costs of $200 per
ounce, combined with lower reclamation spending and positive changes in working
capital resulted in cash flow provided from operating activities of $15.8
million or $0.05 per share during the fourth quarter of 2001. This compares to
gold equivalent production of 254,626 ounces at total cash costs of $181 per
ounce that resulted in cash flow provided from operating activities of $12.4
million or $0.04 per share during the fourth quarter of 2000. The Company
recorded a net loss of $17.3 million or $0.06 per share for the fourth quarter
of 2001, compared to a net loss of $93.2 million or $0.32 per share for the
fourth quarter of 2000. Included in the fourth quarter of 2001 net loss was a
write-down of property, plant and equipment of $16.1 million or $0.05 per share
compared to a fourth quarter 2000 write-down of $85.2 million.

Revenues

Gold and Silver Sales

The Company's primary source of revenue is from the sale of its gold production.
The Company sold 907,149 ounces of gold in 2001, compared to 897,428 ounces in
2000. Revenue from gold and silver sales was $270.1 million in 2001 compared to
$271.0 million in 2000. Revenue from gold and silver sales in 2001 was similar
to the 2000 results. In 2001, the Company realized $296 per ounce of gold,
compared to $298 in 2000. The average spot price for gold was $271 per ounce in
2001 compared to $279 in 2000.

<TABLE>
<CAPTION>
                                                                          ---------------------------------
Summary Information                                                            2001             2000
                                                                          ---------------------------------
<S>                                                                        <C>            <C>
Attributable gold equivalent production - ounces                                  944,803          943,798
Attributable gold production - ounces                                             937,852          932,423
Gold sales - ounces (excluding equity accounted ounces)                           907,149          897,428
Gold revenue (millions)                                                          $  268.8         $  267.8
Average realized gold price per ounce                                             $   296          $   298
Average spot gold price per ounce                                                 $   271          $   279
</TABLE>

Included in gold equivalent production is silver production converted to gold
production using a ratio of the average spot market prices for the two
comparative years. The resulting ratios are 62.00:1 in 2001 and 56.33:1 in 2000.

Interest and Other Income

The Company invests its surplus cash in high quality, interest-bearing cash
equivalents. Interest and other income during 2001 totaled $9.3 million compared
to $14.2 million in 2000. Interest and other income in 2001 was comprised of
interest on cash deposits of $4.9 million, joint venture management fees of $2.2
million, insurance settlements of $1.3 million and $0.9 million of other items.
This compares to 2000 interest on cash deposits of $9.1 million, joint venture
management fees of $2.6 million and insurance settlements of $2.5 million.
Interest income decreased in 2001 due to substantially lower interest rates,
while insurance settlements decreased since the majority of the historic Refugio
claims were settled in 2000.

Mark-to-Market Gain (Loss) on Written Call Options

The Company retroactively adopted the change in Canadian Institute of Chartered
Accountants recommendations for the accounting for written call options in 2000.
The premiums received at the inception of written call options are recorded as a
liability. Changes in the fair value of the liability are recognized in
earnings. The change in fair value of the written call options resulted in a
mark to market gain of $3.5 million in 2001 compared to a gain of $4.1 million
in 2000.

Costs and Expenses

Operating Costs

Gold equivalent production in 2001, (excluding equity accounted ounces)
increased by 1% when compared to 2000 production, while operating costs
decreased by 5%. Consolidated operating costs were $180.7 million in 2001
compared to $189.6 million in 2000. Total cash costs per ounce of gold
equivalent were $193 in 2001 compared to $202 in 2000. Total cash costs per
ounce of gold equivalent improved dramatically at the Hoyle Pond mine and the
Refugio mine, while the Blanket mine in Zimbabwe experienced higher unit costs
due to hyperinflation primarily as a result of certain monetary policies adopted
by the government of this African country.


<PAGE>


<TABLE>
<CAPTION>

Consolidated Production Costs per
Equivalent Ounce of Attributable Gold Production
                                                                        -----------------------------------
For the year ended December 31,                                               2001              2000
                                                                        -----------------------------------
<S>                                                                        <C>              <C>
Cash operating costs                                                              $   186          $   193
Royalties
                                                                                        7                9
                                                                        -----------------------------------
Total cash costs
                                                                                      193              202
                                                                        -----------------------------------
Reclamation
                                                                                        2                3
Depreciation, depletion and amortization
                                                                                       94               99
                                                                        -----------------------------------
Total production costs                                                            $   289          $   304
                                                                        ===================================

</TABLE>

The following table provides a reconciliation of operating costs per the
consolidated financial statements to operating costs for per ounce calculation
of total cash costs pursuant to the Gold Institute guidelines.

Reconciliation of Total Cash Costs per
Equivalent Ounce of Gold to Consolidated Financial Statements For the year ended
December 31, (millions except production in ounces and per ounce amounts)
<TABLE>
<CAPTION>

                                                                        -----------------------------------
                                                                              2001              2000
                                                                        -----------------------------------
<S>                                                                     <C>                  <C>
Operating costs per financial statements                                         $  180.7         $  189.6
Dayton operating costs
                                                                                      7.4              9.4
Site restoration cost accruals
                                                                                    (1.9)            (2.7)
Other
                                                                                    (3.7)            (5.4)
                                                                        -----------------------------------
Operating costs for per ounce calculation purposes                               $  182.5         $  190.9
                                                                        -----------------------------------
Gold equivalent production - ounces                                               944,803          943,798
Total cash costs per equivalent ounce of gold                                     $   193          $   202
</TABLE>

Total cash costs per ounce of gold equivalent decreased by 4% during 2001.
Details of the individual mine performance are discussed in the following
sections.

Fort Knox Mine

The Company acquired the Fort Knox open pit mine, located near Fairbanks, Alaska
in 1998. Gold equivalent production in 2001 was 411,221 ounces compared to
362,959 in 2000. In 2001, total cash costs were $207 per ounce of gold
equivalent compared to $203 in 2000. The Fort Knox mine 2001 business plan
called for 450,000 ounces of gold equivalent production at total cash costs of
$196 per ounce of gold equivalent. The plan was predicated on production from
the Fort Knox open pit and supplemental feed from the recently acquired True
North deposit early in 2001.

For 2001, cash production costs were $2.8 million lower than planned.
Unfortunately, the reduced spending did not compensate for the delays in
achieving commercial production at the True North open pit, due to a prolonged
permitting process, unacceptable performance of the haulage contractor during
the third quarter of 2001 and lower than anticipated ore grade in the upper
benches at the True North open pit during the third quarter of 2001. The fourth
quarter of 2001 results were on plan as the Company acquired the haulage fleet
and is managing the ore haulage operations from the True North open pit to the
Fort Knox mill. In addition, the grade of the ore mined during the fourth
quarter of 2001 at the True North open pit was as planned. Estimated gold
equivalent production for 2002 is 440,000 ounces at total cash costs of
approximately $210 per ounce.

Capital expenditures at the Fort Knox operations in 2001 were $20.2 million
compared to $17.6 million during 2000. The majority of capital expenditures for
2001 were required to purchase nine haulage trucks for the True North ore
haulage, complete the access road from the Fort Knox mill to the True North open
pit and for site infrastructure at the True North open pit. Planned capital
expenditures for 2002 are estimated to be $16.0 million.

Hoyle Pond Mine

The Company acquired the Hoyle Pond underground mine, located in Timmins,
Ontario, in 1993. Gold equivalent production in 2001 was 156,581 ounces compared
to 140,441 ounces in 2000. In 2001, total cash costs were $182 per ounce of gold
equivalent compared to $209 in 2000. Cash production costs were on plan during
2001, 14% lower than in 2000. This reduced spending combined with higher gold
equivalent production due to a 10% increase in the grade of ore processed,
resulted in lower per ounce total cash costs. Estimated gold equivalent
production for 2002 is 145,000 ounces at total cash costs of approximately $193
per ounce.

Capital expenditures at the Hoyle Pond operations in 2001 were $7.9 million
compared to $13.8 million during 2000. The majority of capital expenditures for
2001 were required to further advance the 1060 ramp, underground development
drilling and underground fleet replacements. Planned capital expenditures for
2002 are estimated to be $8.6 million.

Kubaka Mine

The Company acquired its 54.7% ownership interest in the Kubaka open pit mine,
located in the Magadan Oblast in far eastern Russia in three transactions during
1998 and 1999. The Company's share of gold equivalent production in 2001 was
237,162 ounces compared to 244,641 in 2000. In 2001, total cash costs were $140
per gold equivalent ounce compared to $139 in 2000. The Kubaka mine continues to
perform exceptionally well, having achieved the lowest total cash costs per
ounce of the Company's primary operations. Cash production costs were on plan
during 2001, unchanged from 2000. Mill throughput increased by 4%, which helped
to compensate for the 6% decrease in the grade of the ore processed. Estimated
gold equivalent production for the Company's ownership interest in 2002 is
230,000 ounces at total cash costs of approximately $144 per ounce.

The Company's share of capital expenditures at the Kubaka operations in 2001 was
$0.4 million compared to $0.3 million during 2000. The majority of capital
expenditures for 2001 were required to extend the gravel runway at the mine
airstrip and to purchase one additional diamond drill for exploration activities
at the nearby Birkachan exploration project. The Company's share of planned
capital expenditures for 2002 are estimated to be $1.5 million.

In 1999, the Company began an extensive drilling program looking for alternative
mill feed for the Kubaka operations beyond the then known mine life. In 2000,
these activities identified the Birkachan project located 28 kilometers north of
the Kubaka processing plant. Additional exploration drilling continued during
2001. Current plans for 2002 are to continue the exploration activities at
Birkachan, and commence the process of converting the current exploration
license to a mining license. The Company will focus its exploration activities
to identify resources that can be quickly converted into reserves and provide
mill tonnage for the Kubaka processing plant in 2003 or 2004.

Refugio Mine

The Company acquired a 50% interest in the Refugio open pit mine, located in
Chile in 1998. The Company's share of gold equivalent production in 2001 was
67,211 ounces compared to 85,184 ounces in 2000. In 2001, total cash costs were
$242 per ounce of gold equivalent compared to $300 in 2000. In late 2000, in
light of the continued weakness in spot gold prices a decision was made to
suspend mining activities and place the operations on care and maintenance in
June of 2001. The open pit mining activities were suspended on June 1, 2001 as
the last mined ore was placed on the leach pad and the Refugio operations
commenced residual leaching of the two leach pads. All of the leased mining
equipment was disposed of in 2001, eliminating any further financial obligations
under the leases. Heap leaching operations continue and the balance of the
Chilean summer will be spent reviewing the water balance and the estimated gold
inventory on the leach pad to determine the best time to suspend residual
leaching. The Company does not estimate any further economic production from
this operation in 2002. The Refugio mine will remain on care and maintenance
until spot gold prices improve substantially.

Blanket Mine

The Blanket mine, located in Zimbabwe, was acquired in 1993. Gold equivalent
production in 2001 was 39,592 ounces compared to 34,571 ounces in 2000. Total
cash costs were $279 per ounce of gold equivalent in 2001, compared to $236 in
2000. Gold production increased in 2001 as milling of historic tailings that
were purchased, subject to a tonnage royalty, from a nearby producer commenced.
Inflationary pressures within Zimbabwe reached extreme levels due to certain
monetary policies adopted by the government making the sourcing of foreign
materials and supplies increasingly more difficult. This has also been
compounded by increases in violence and civil unrest throughout the fourth
quarter, a trend that is expected to increase as the March elections draw
closer. With only 20% of gold sales payable in U.S. dollars and in excess of 30%
of consumables imported and denominated in currencies other than the Zimbabwe
dollar, the future ability of this operation to service debt obligations to the
Company remains questionable. Future dividend payments under the current tight
monetary policies also appear unlikely. Throughout this challenging time the
mine continues to operate, and estimates 2002 production of 39,000 gold
equivalent ounces.

The Company believes that conditions will improve in Zimbabwe, but, in light of
the current economic and political environment, the Company has discontinued the
consolidation of its investment in Zimbabwe and has fully written it down. This
write-down during the fourth quarter of 2001 totaled $11.8 million.

Other Operations

In addition to its primary operating mines, the Company has other locations in
various stages of residual production or closure. Only two of these operations
had gold equivalent production during 2001. Gold equivalent production from the
Hayden Hill and Guanaco mines in 2001 was 3,605 ounces with total cash costs in
excess of $300 per ounce. Both of these operations will have no further
commercial production and efforts are now focused on mine closure and
reclamation.

Administration

Administration costs include corporate office expenses related to the overall
management of the business which are not part of direct mine operating costs.
Administration costs include the costs incurred at two offices. These offices
are the corporate office in Toronto and the United States office in Salt Lake
City. Administration expenses totaled $10.1 million in 2001, compared to $10.4
million in 2000. The 2001 administration expenditures were similar to 2000.
Administration expenses in 2002 are expected to remain near 2001 levels.

Exploration and Business Development

In 2001, total exploration and business development expenditures were $11.4
million of which $7.9 million was expensed. In 2000, total exploration and
business development expenditures were $18.2 million of which $11.4 million was
expensed. Capitalized exploration was incurred primarily on the Hoyle Pond
property and Fort Knox properties, while expensed exploration activities focused
on the George/Goose Lake project in Nunavut and the area surrounding the Kubaka
mine in Russia. Exploration and business development expenditures are expected
to be $10.0 million in 2002 of which $6.9 million is expected to be expensed.

Depreciation, Depletion and Amortization

Depreciation, depletion and amortization totaled $85.8 million in 2001 compared
to $93.2 million in 2000. Depreciation, depletion and amortization have
decreased to $94 per equivalent ounce of gold in 2001, from $99 in 2000. The
2001 decrease compared to 2000 was primarily due to increased year-end 2000
proven and probable reserves at the Kubaka mine. Depreciation, depletion and
amortization on a per ounce basis are expected to remain at current levels in
2002.

Interest Expense

Interest expense totaled $9.1 million in 2001, compared to $14.3 million in
2000. Interest expense in 2001 is comprised of $2.0 million relating to the
Company's proportionate share of interest on the Kubaka project and subordinated
loans. In addition, in 2001, the Company incurred $2.8 million of interest on
the Alaskan industrial revenue bonds, $2.8 million of interest on the debt
component of the convertible debentures and the balance of interest on capital
leases. Interest expense decreased in 2001 due to lower debt balances
outstanding and lower interest rates.

Share of Loss of Investee Companies

Share of loss of investee companies totaled $2.2 million in 2001, compared to
$8.1 million in 2000. The Company equity accounts investments where it owns more
than 20% and exercises control. During 2001, the Company's share of the losses
of the investee companies was $2.2 million, substantially less than recorded
amounts in 2000. The 2000 results included 34% of Dayton Mining Corporation's
write-down of the Anadacolla mine.

Write-down of Property Plant and Equipment

Impairment analysis for the operating assets consisted of comparing the
estimated undiscounted future net cash flows on an area of interest basis with
its carrying value, and when the future net cash flows are less, a non-cash
write-down is recorded. Over the past three years gold has averaged $276 per
ounce and closed the year at $277 per ounce. Subsequent to the end of 2001, gold
has traded above $300 per ounce. In addition to current and historical spot gold
prices, the Company reviewed analysts' reports and participated in external
surveys. As a result of this trend, and external survey expectations for spot
gold prices, the Company used an assumption of $300 per ounce for gold for both
reserve determination and impairment analysis in 2001 and 2000.

Non-cash property, plant and equipment write-downs totaled $16.1 million in 2001
compared to $72.1 million in 2000. The 2001 write-down was comprised of $11.8
million relating to the Blanket mine due to the extreme inflationary pressures
within Zimbabwe, difficulty in accessing foreign currency to pay for imported
goods and services and the current civil unrest. The balance of the write-down
was on other non-core closure properties. The 2000 write-down was comprised of
$36.1 million relating to the Refugio mine due to the decision to suspend
operations and place the operations on care and maintenance, and the balance on
other non-core development and closure properties.

Liquidity and Financial Resources

Operating Activities

Cash flow provided from operating activities was $74.5 million compared to $47.8
million in 2000. Cash flow provided from operating activities in 2002 is
expected to be approximately $53.0 million using a spot gold price assumption of
$280 per ounce. The 2001 cash flow from operating activities was positively
affected by lower production costs, interest expense and exploration spending.
In addition, $21.6 million of cash flow was generated upon the restructuring of
certain spot deferred forward sales contracts. The 2001 cash flow from operating
activities was used to finance capital expenditures and service existing debt.
There were no dividends paid on the convertible preferred shares of subsidiary
company in 2001.

Financing Activities

During 2001, the Company issued 24.2 million common shares valued at $23.2
million to acquire 945,400 convertible preferred shares of subsidiary company.
At the time of the transaction the convertible preferred shares of the
subsidiary company had a book value of $48.9 million. The $25.7 million
difference in value associated with this transaction was applied against the
carrying values of certain property, plant and equipment. In addition, in 2001,
the Company issued 4.3 million common shares for cash consideration of $4.6
million pursuant to a private placement, issued 4.0 million common shares valued
at $3.8 million to acquire mining properties, and issued 1.3 million common
shares valued at $0.9 million pursuant to the employee share incentive plan.
During 2000, the Company issued 2.0 million common shares for cash consideration
of $1.4 million pursuant to a private placement, issued 2.1 million common
shares for proceeds of $1.8 million pursuant to the employee share incentive
plan and repurchased 3.5 million common shares pursuant to a normal course
issuer bid for $5.3 million of cash.

On February 12, 2002, the Company completed a public offering and issued from
treasury 23.0 million common shares for net proceeds of approximately $18.5
million. The majority of the funds raised are anticipated to be used to purchase
the convertible preferred shares of subsidiary company. If the Company is
successful in acquiring the 894,600 convertible preferred shares of subsidiary
company at the offer price of $16.00 per share, the Company would apply the
difference between the book and market value of approximately $33.7 million to
reduce certain property, plant and equipment.

The debt component of convertible debentures was reduced by $5.4 million during
2001 compared to $4.9 million during 2000. Long-term debt repayments were $46.5
million in 2001 compared to $26.4 million during 2000.

The Company did not declare and pay any dividends to the holders of the
convertible preferred shares of subsidiary company. Dividends paid on the
convertible preferred shares of subsidiary company in 2000, before suspension in
August 2000, totaled $3.4 million. Included in the carrying value of the Kinam
preferred shares, as at December 31, 2001, is an accrual of $5.1 million that
represents the cumulative unpaid dividends to the minority holders.

As at December 31, 2001, the Company had a $70 million operating line of credit
in place with a bank syndicate, which is utilized for letters of credit
purposes. This operating line was reduced to $50.0 million on January 2, 2002.
As at December 31, 2001, $59.0 million of letters of credit were issued under
this facility. On January 2, 2002, the Company repaid $9.0 million of the Fort
Knox industrial revenue bonds ("IRB's") which reduced the letters of credit
outstanding under this facility to $49.8 million. The Company intends to
re-market this credit facility in early 2002 since it matures in January 2003.

As at December 31, 2001, the Company's long-term debt consists of $4.2 million
relating to the Kubaka project financing, $49.0 million of IRB's and various
capital leases and other debt of $10.9 million. The current portion of the
long-term debt is $33.1 million.

Investing Activities

Capital expenditures decreased by 27% in 2001, as $30.4 million was spent on
capital additions, compared to $41.6 million in 2000. The 2001 capital
expenditures focused primarily on the Hoyle Pond and Fort Knox operations with
92% of total capital expenditures incurred at these two mines. Capital spending
at the Hoyle Pond mine totaled $7.9 million (2000 - $13.8 million), for
exploration drilling, underground development and additions to the underground
mobile fleet. Capital spending at the Fort Knox mine totaled $20.2 million (2000
- - $17.6 million), to purchase nine haulage trucks for the True North ore
haulage, complete the access road from the Fort Knox mill to the True North open
pit and for site infrastructure at the True North open pit. The Company's share
of capital spending at the Refugio mine totaled $ nil (2000 - $3.2 million).
Capital expenditures were financed out of cash flow from operating activities.
Planned capital expenditures totaling $28.4 million in 2002 are to be funded
from cash flow from operating activities and current cash reserves.

During 2001, one cash business acquisition was completed as the Company
increased its ownership interest of E-Crete, LLC to approximately 86%. Cash used
in business acquisitions was $1.2 million in 2001, compared to $nil in 2000.

Mineral Reserve and Mineral Resource Estimates

The following table provides the Company's share of reserves and resources as at
December 31, 2001. Proven and probable reserves have declined by 1,259,000
ounces of gold since last year, primarily as a result of the consumption of
1,048,000 ounces from reserves to produce 936,580 ounces of attributable gold in
2001.

At Hoyle Pond the 2000 reserves were more than replaced in 2001 with a 10%
increase in proven and probable reserves year-over-year, while Kubaka replaced
about 27% of reserves consumed. At Kubaka production beyond the end of 2003 is
dependent on continued success at the Birkachan deposit where in-fill drilling
and exploratory drilling are ongoing.

At Fort Knox and area, proven and probable reserves were reduced primarily by
the consumption of 477,000 ounces of gold from reserves to produce 411,221
ounces of gold equivalent in 2001. In addition, approximately 126,000 ounces of
gold in reserves in 2000, that are located in the outer zone of the Fort Knox
pit, were reclassified as inferred resources. This reclassification resulted
from recent mining experience in the outer zone at Fort Knox where initial
production indicated fewer tonnes but at a higher grade. In 2002, an in-fill
drill program in the outer zone is targeted at reconverting this area back to
reserves. In addition, in-fill drilling at True North is focussed on reserve
additions at this recently developed satellite deposit.

Other changes in proven and probable reserves primarily relate to the pending
sale of the Aginskoe project, a reduction at Refugio, which is in residual
leach, and a small reduction at Dayton's Denton Rawhide mine, partially offset
by the growth in reserves at the Blanket operation.

At year-end 2001, measured and indicated resources declined from 10,489,000
ounces to 9,460,000 ounces of gold and from 54.9 million ounces of silver to 9.3
million ounces of silver. The reduction of just over one million ounces of
measured and indicated gold resources was primarily due to the sale of the
Macassa operation and the sterilization of resources by reclamation activities
at Haile, which are partially offset by the addition of 1,330,000 ounces of
indicated gold resources with the acquisition of the George/Goose Lake project
in Canada. The decline in silver resources was primarily as a result of the sale
of the Candelaria property in 2001.

Inferred resources of gold, at December 31, 2001, increased by approximately 0.5
million ounces to 5.8 million ounces compared to the previous year. This
increase reflects the sale of certain assets, which was more than offset by the
acquisition of inferred resources at the George/Goose Lake project.





















Mineral Reserve and Mineral Resource Notes

1.   Reported reserves and resources have been calculated in accordance with:
     the National Instrument (43-101, 43-101CP and 43-101F1) under the Canadian
     Securities Law, and the Canadian Institute of Mining Standards on Mineral
     Resource and Reserve, Definitions and Guidelines.

2.   The reserves are based on an assumed long-term gold price of US $300 per
     ounce and reflect mining dilution and mining recovery.

3.   Applying industry standard methodology, each property has a unique process
     gold recovery and cutoff grade.



<PAGE>



                             ----------------- --------------- --------------
                                                  Average         Average
                                Producing         Process       Gold Cutoff
                                 Property         Recovery       Grade g/t
                             ----------------- --------------- --------------
                             ----------------- --------------- --------------
                             Hoyle Pond            88.0%           7.68
                             ----------------- --------------- --------------
                             ----------------- --------------- --------------
                             Fort Knox             85.6%           0.43
                             ----------------- --------------- --------------
                             ----------------- --------------- --------------
                             True North            85.0%           0.69
                             ----------------- --------------- --------------
                             ----------------- --------------- --------------
                             Kubaka                97.5%           3.20
                             ----------------- --------------- --------------
                             ----------------- --------------- --------------
                             Refugio               67.2%           0.48
                             ----------------- --------------- --------------
                             ----------------- --------------- --------------
                             Blanket               87.0%           3.20
                             ----------------- --------------- --------------
                             ----------------- --------------- --------------
                             Blanket Tails         63.0%            n/a
                             ----------------- --------------- --------------

4.   Unlike reserves, resources do not have a demonstrated economic value.

5.   In addition to the reported Measured and Indicated resources, Inferred
     resources total 115.7 million tonnes containing 5.83 million gold ounces.

6.   The impact of a $25/oz. reduction in the long-term gold price (to $275/oz.)
     results in an estimated 8% decrease in reserve gold ounces. Alternately,
     the impact of a $25/oz. rise in the long-term gold price (to $325/oz.),
     results in an estimated 6% increase in reserve gold ounces.

7.   Except for "Other Sources" listed below, Kinross employees, who meet the
     43-101 requirements for a Qualified Person, have prepared the reserve and
     resource estimations.

       Qualified Persons Responsible for Estimated Reserves and Resources
<TABLE>
<CAPTION>

       ------------------------------ --------------------------------- ----------------------------------------
              Mine / Property                       Name                               Title(s)
       ------------------------------ --------------------------------- ----------------------------------------
       ------------------------------ --------------------------------- ----------------------------------------
<S>                                <C>                                <C>
       Hoyle Pond Mine                R. Cooper, P. Eng. & A. Still,    Mgr. Tech. Service, Chief Geol. (Hoyle
                                      AGO                               Pond)
       ------------------------------ --------------------------------- ----------------------------------------
       ------------------------------ --------------------------------- ----------------------------------------
       Other Timmins                  A. Still, AGO                     Chief Geologist (Hoyle Pond)
       ------------------------------ --------------------------------- ----------------------------------------
       ------------------------------ --------------------------------- ----------------------------------------
       Pamour                         R. Cooper, P. Eng.                Mgr. Technical Services (Hoyle Pond)
       ------------------------------ --------------------------------- ----------------------------------------
       ------------------------------ --------------------------------- ----------------------------------------
       Fort Knox                      T. Wilton, P. Geo. & V. Miller,   Chief Geologist FGMC, Engineering Mgr.
                                      P. E                              KTS
       ------------------------------ --------------------------------- ----------------------------------------
       ------------------------------ --------------------------------- ----------------------------------------
       True North, Ryan Lode, and     T. Wilton, P. Geo.                Chief Geologist FGMC
       Gil
       ------------------------------ --------------------------------- ----------------------------------------
       ------------------------------ --------------------------------- ----------------------------------------
       Delamar                        V. Miller, P. E.                  Engineer. Mgr. Kinross Technical
                                    Services
       ------------------------------ --------------------------------- ----------------------------------------
       ------------------------------ --------------------------------- ----------------------------------------
       Goldbanks                      V. Miller, P. E.                  Engineering Mgr. Kinross Technical
                                    Services
       ------------------------------ --------------------------------- ----------------------------------------
       ------------------------------ --------------------------------- ----------------------------------------
       Kubaka                         V. Miller, P. E. & B. Falletta,   Engineer. Mgr. KTS, Engineer. Mgr. OGMC
                                      P. E.
       ------------------------------ --------------------------------- ----------------------------------------
       ------------------------------ --------------------------------- ----------------------------------------
       Refugio                        V. Miller, P. E.                  Engineering Mgr. Kinross Technical
                                    Services
       ------------------------------ --------------------------------- ----------------------------------------
       ------------------------------ --------------------------------- ----------------------------------------
       Blanket                        G. Ndebele, GSZ & R. Dye, P. E.   Geological Mgr. (Blanket), V. P. KTS
       ------------------------------ --------------------------------- ----------------------------------------
       ------------------------------ --------------------------------- ----------------------------------------
       Norseman                       B. Butler, P. Geo. & T. Wilton,   Sr. Geologist KGA, Chief Geologist FGMC
                                      P. Geo.
       ------------------------------ --------------------------------- ----------------------------------------

                                  Other Sources
       ------------------------------ -------------------------------------------------------------------------
       George/Goose Lake              MRDI, S. Juras, P. Geo.
       ------------------------------ -------------------------------------------------------------------------
       ------------------------------ -------------------------------------------------------------------------
       Angostura                      Information provided by Greystar Resources
       ------------------------------ -------------------------------------------------------------------------
       ------------------------------ -------------------------------------------------------------------------
       Dayton                         Information provided by Dayton Mining Corp.
       ------------------------------ -------------------------------------------------------------------------
</TABLE>

Commodity Price Risks

The Company has entered into gold forward sales contracts, spot deferred forward
sales contracts and written call options for some portion of expected future
production to mitigate the risk of adverse price fluctuations. The Company does
not hold these financial instruments for speculative or trading purposes. The
Company is not subject to margin requirements on any of its hedging lines.


<PAGE>


The outstanding number of ounces, average expected realized prices and
maturities for the gold commodity derivative contracts as at December 31, 2001
are as follows:

Expected       Ounces                                  Call              Average
Year           Hedged             Average              Options           Strike
Of Delivery    '000 oz.           Price                Sold '000 oz.     Price

2002           113                $271                  50               $340
2003           100                $270                 100               $320
2004           100                $270                  50               $340
               -------------------                      ------------------
Total          313                                     200
               ===================                      ==================

Outlook

As at December 31, 2001, the Company has $62.0 million of working capital, which
includes a strong cash balance. The Company is continually focused on cost
containment and is aggressively looking for opportunities to reduce spending in
all areas. In addition, with the exception of the George/Goose Lake exploration
program, all exploration efforts are now focused near existing producing assets,
which should provide synergistic opportunities in the future. These initiatives,
combined with sustainable low cost production, significant mining properties in
Alaska and Timmins and a manageable debt repayment schedule, provide the Company
with the ability to survive low spot gold prices in order to take advantage of
higher prices in the future.

Subsequent to the year-end, the Company issued 23 million common shares for net
proceeds of approximately $18.5 million (Cdn $29.6 million) and announced its
intent to initiate a tender offer totaling $14.3 million for the 894,600 Series
B Convertible Preferred Shares of Kinam Gold Inc. not already owned by the
Company. These transactions are additional steps to further strength the balance
sheet of the Company and complement the approximate $100 million reduction of
obligations1 achieved in 2001.

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 ("Kinross"), 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.

For additional information, e-mail info@kinross.com or contact:
Robert M. Buchan           Gordon A. McCreary        Brian W. Penny
Chairman and               Vice President,           Vice President, Finance
Chief Executive Officer    Investor Relations and    and Chief Financial Officer
                           Corporate Development
Tel. (416) 365-5650        Tel. (416) 365-5132       Tel. (416) 365-5662

Kinross will host a conference call at 11:30 EST on February 14, 2002. The audio
will be available at www.kinross.com. The conference call will be archived at
www.kinross.com. For participation in the conference call e-mail
info@kinross.com or call Anitka Rolczewski at 416-365-1362.
                                      -30-

Kinross Gold Corporation
Consolidated Balance Sheets
(expressed in millions of U.S. dollars) (unaudited)
<TABLE>
<CAPTION>

                                                                                         As at                        As at
                                                                                      December 31                  December 31
                                                                                         2001                          2000
                                                                                      ------------                 -------------
<S>                                                                             <C>                      <C>
Assets
       Current assets
          Cash and cash equivalents                                                       $  81.0                      $   77.8
          Restricted cash
                                                                                                -                           2.9
          Accounts receivable
                                                                                             13.8                          20.3
          Inventories
                                                                                             42.4                          54.6
          Marketable securities
                                                                                              1.5                           0.7
                                                                                      ------------                 -------------

                                                                                            138.7                         156.3
        Property, plant and equipment
                                                                                            413.9                         505.6
        Long - term investments
                                                                                             14.0                          14.4
        Deferred charges and other assets
                                                                                             11.0                          23.7
                                                                                      ------------                 -------------

                                                                                         $  577.6                      $  700.0
                                                                                      ============                 =============
Liabilities
       Current liabilities
          Accounts payable and accrued liabilities                                        $  31.0                      $   40.8
          Current portion of long - term debt
                                                                                             33.1                          31.5
          Current portion of site restoration cost accruals
                                                                                             12.6                           9.3
                                                                                      ------------                 -------------

                                                                                             76.7                          81.6

      Long-term debt
                                                                                             31.0                          79.8
      Site restoration cost accruals
                                                                                             43.0                          47.9
      Future income and mining taxes
                                                                                              3.3                           3.5
      Deferred revenue
                                                                                              9.6                          10.1
      Other long-term liabilities
                                                                                              6.0                          10.1
      Debt component of convertible debentures
                                                                                             28.1                          33.4
      Redeemable retractable preferred shares
                                                                                              3.1                           3.1
                                                                                      ------------                 -------------

                                                                                            200.8                         269.5
                                                                                      ------------                 -------------

Convertible preferred shares of subsidiary company
                                                                                             48.0                          91.8
                                                                                      ------------                 -------------

Common shareholders' equity
      Common share capital
                                                                                            945.7                         913.2
      Contributed surplus
                                                                                             12.9                          12.9
      Equity component of convertible debentures
                                                                                            124.8                         117.0
      Deficit
                                                                                           (726.0)                       (681.4)
      Cumulative translation adjustments
                                                                                            (28.6)                        (23.0)
                                                                                      ------------                 -------------

                                                                                            328.8                         338.7
                                                                                      ------------                 -------------

                                                                                         $  577.6                      $  700.0
                                                                                      ============                 =============
</TABLE>

Kinross Gold Corporation
Consolidated Statements of Operations
(expressed in millions of U.S. dollars except per share amounts) (unaudited)
<TABLE>
<CAPTION>

                                                                               Three months ended                Year ended
                                                                                  December 31                   December 31
                                                                          ----------------------------- ----------------------------
                                                                               2001           2000           2001           2000
                                                                          ---------------- ------------ --------------- ------------
<S>                                                                      <C>               <C>          <C>             <C>
Revenue
      Mining revenue                                                            $    70.3      $  70.3       $   270.1      $  271.0
      Interest and other income
                                                                                      1.5          4.4             9.3          14.2
      Mark-to-market gain on call options
                                                                                      3.9          4.1             3.5           4.1
                                                                          ---------------- ------------ --------------- ------------

                                                                                     75.7         78.8           282.9         289.3
                                                                          ---------------- ------------ --------------- ------------
Expenses
      Operating
                                                                                     46.8         46.7           180.7         189.6
      General and administrative
                                                                                      2.5          2.0            10.1          10.4
      Exploration and business development
                                                                                      1.6          2.8             7.9          11.4
      Depreciation, depletion and amortization
                                                                                     21.4         26.0            85.8          93.2
                                                                          ---------------- ------------ --------------- ------------

                                                                                     72.3         77.5           284.5         304.6
                                                                          ---------------- ------------ --------------- ------------

Loss before the undernoted
                                                                                      3.4          1.3           (1.6)        (15.3)
      Gain on sale of assets
                                                                                      1.2          0.6             1.2           4.1
      Foreign exchange (loss) gain
                                                                                    (0.5)          0.1           (1.1)           0.5
      Share in loss of investee companies
                                                                                    (1.3)        (7.6)           (2.2)         (8.1)
      Interest expense on long-term liabilities
                                                                                    (1.7)        (3.3)           (9.1)        (14.3)
      Write-down of long-term investments
                                                                                        -       (13.1)               -        (13.1)
      Write-down of property, plant and equipment
                                                                                   (16.1)       (72.1)          (16.1)        (72.1)
                                                                          ---------------- ------------ --------------- ------------

Loss before taxes and dividends on convertible
      preferred shares of subsidiary company
                                                                                   (15.0)       (94.1)          (28.9)       (118.3)

Provision for income and mining taxes
                                                                                    (1.5)          2.7           (2.9)         (0.9)
                                                                          ---------------- ------------ --------------- ------------

Loss for the period before dividends on convertible
      preferred shares of subsidiary company
                                                                                   (16.5)       (91.4)          (31.8)       (119.2)

Dividends on convertible preferred shares of subsidiary company
                                                                                    (0.8)        (1.8)           (5.1)         (6.9)
                                                                          ---------------- ------------ --------------- ------------

Net loss for the period
                                                                                   (17.3)       (93.2)          (36.9)       (126.1)

Increase in equity component of convertible debentures
                                                                                    (2.0)        (1.9)           (7.7)         (7.2)
                                                                          ---------------- ------------ --------------- ------------

Net loss for the period attributable to common shareholders                   $    (19.3)    $  (95.1)      $   (44.6)    $  (133.3)
                                                                          ================ ============ =============== ============

Loss per share
Basic                                                                         $    (0.06)    $  (0.32)      $   (0.14)     $  (0.45)

Weighted average number of common shares outstanding (millions)
                                                                                    333.2        298.1           313.4         298.1
Total outstanding and issued common shares at December 31
                                                                                                                 334.7         300.9



Kinross Gold Corporation
Consolidated Statements of Cash Flows
(expressed in millions of U.S. dollars) (unaudited)
                                                                              Three months ended                 Year ended
                                                                                  December 31                   December 31
                                                                          ----------------------------- ----------------------------
                                                                               2001           2000           2001           2000
                                                                          ---------------- ------------ --------------- ------------
Net inflow (outflow) of cash related to the following activities:
Operating:
     Loss for the period before dividends on convertible preferred shares
           of subsidiary company                                              $    (16.5)    $  (91.4)      $   (31.8)    $  (119.2)
     Items not affecting cash:
           Depreciation, depletion and amortization
                                                                                     21.4         26.0            85.8          93.2
           Write-down of property, plant and equipment
                                                                                     14.6         72.1            14.6          72.1
           Write-down of long-term investments
                                                                                        -         13.1               -          13.1
           (Gain) on sale of assets
                                                                                    (1.2)        (0.6)           (1.2)         (4.1)
           Future income taxes
                                                                                        -        (3.5)               -         (3.5)
           Deferred revenue realized
                                                                                    (4.8)        (6.3)          (17.7)        (13.5)
           Site restoration cost accruals
                                                                                      0.7          0.7             1.9           2.6
           Share in loss of investee companies
                                                                                      1.3          7.6             2.2           9.4
                                                                          ---------------- ------------ --------------- ------------

                                                                                     15.5         17.7            53.8          50.1
      Proceeds on restructuring of gold forward sale contracts
                                                                                      0.5            -            21.6           4.7
      Site restoration cash expenditures
                                                                                    (2.6)        (4.5)           (7.1)         (9.6)
      Changes in non-cash working capital items
           Accounts receivable
                                                                                      4.3        (1.3)             5.1           5.7
           Inventories
                                                                                      1.5          1.7             9.6           0.6
           Marketable securities
                                                                                        -        (0.3)               -           4.8
           Accounts payable and accrued liabilities
                                                                                    (3.9)        (3.0)           (8.0)         (8.3)
      Effect of exchange rate changes on cash
                                                                                      0.5          2.1           (0.5)         (0.2)
                                                                          ---------------- ------------ --------------- ------------
Cash flow provided from operating activities
                                                                                     15.8         12.4            74.5          47.8
                                                                          ---------------- ------------ --------------- ------------
Financing:
      Issuance (repurchase) of common shares, net
                                                                                      2.6          2.0             5.4         (2.1)
      Reduction of debt component of convertible debentures
                                                                                    (1.4)        (1.4)           (5.4)         (4.9)
      Repayment of debt
                                                                                    (6.6)        (9.6)          (46.5)        (26.4)
      Dividends on convertible preferred shares of subsidiary company
                                                                                        -            -               -         (3.4)
                                                                          ---------------- ------------ --------------- ------------
Cash flow used in financing activities
                                                                                    (5.4)        (9.0)          (46.5)        (36.8)
                                                                          ---------------- ------------ --------------- ------------
Investing:
      Additions to property, plant and equipment
                                                                                    (5.6)        (9.4)          (30.4)        (41.6)
      Business acquisitions, net of cash acquired
                                                                                    (0.7)            -           (1.2)             -
      Long-term investments and other assets
                                                                                      4.7        (1.3)             2.1         (7.4)
      Proceeds from the sale of property, plant and equipment
                                                                                      0.2          1.6             1.8           4.8
      Decrease (increase) in restricted cash
                                                                                        -        (2.9)             2.9         (2.9)
                                                                          ---------------- ------------ --------------- ------------
Cash flow used in investing activities
                                                                                    (1.4)       (12.0)          (24.8)        (47.1)
                                                                          ---------------- ------------ --------------- ------------
Increase (decrease) in cash and cash equivalents
                                                                                      9.0        (8.6)             3.2        (36.1)
Cash and cash equivalents, beginning of period
                                                                                     72.0         86.4            77.8         113.9
                                                                          ---------------- ------------ --------------- ------------
Cash and cash equivalents, end of  period                                       $    81.0      $  77.8       $    81.0      $   77.8
                                                                          ================ ============ =============== ============

Gold Equivalent Production - Ounces
                                                                               Three months ended                Year ended
                                                                                  December 31                    December 31
                                                                          -----------------------------  ---------------------------
                                                                               2001           2000           2001           2000
                                                                          ---------------- ------------  -------------- ------------

         Primary operations:
              Fort Knox
                                                                                  104,521      112,745         411,221       362,959
              Hoyle Pond
                                                                                   46,051       36,299         156,581       140,441
              Kubaka (1)
                                                                                   62,415       62,373         237,162       244,641
              Refugio (2)
                                                                                   10,130       21,033          67,211        85,184
              Blanket
                                                                                    8,879        8,030          39,592        34,571
                                                                          ---------------- ------------  -------------- ------------


                                                                                  231,996      240,480         911,767       867,796
                                                                          ---------------- ------------  -------------- ------------

         Other operations:
              Denton-Rawhide (3)
                                                                                    4,168        4,114          17,713        29,361
              Andacollo (3)
                                                                                    2,080        5,667          11,718        21,030
              Hayden Hill
                                                                                        -        1,735           1,887         9,582
              Guanaco
                                                                                        -        2,630           1,718        16,029
                                                                          ---------------- ------------  -------------- ------------


                                                                                    6,248       14,146          33,036        76,002
                                                                          ---------------- ------------  -------------- ------------

Total gold equivalent ounces
                                                                                  238,244      254,626         944,803       943,798
                                                                          ================ ============  ============== ============

Consolidated production costs
($ per ounce of gold equivalent)
       Cash operating costs
                                                                                      192          177             186           193
       Royalties
                                                                                        8            4               7             9
                                                                          ---------------- ------------  -------------- ------------
       Total cash costs
                                                                                      200          181             193           202
       Reclamation
                                                                                        3            3               2             3
       Depreciation and amortization
                                                                                       92          102              94            99
                                                                          ---------------- ------------  -------------- ------------
       Total production cost
                                                                                      295          286             289           304
                                                                          ================ ============  ============== ============
</TABLE>

(1)  Represents the Company's 54.7% ownership interest

(2)  Represents the Company's 50% ownership interest.

(3)  The 49% interest in the Denton-Rawhide mine was sold to Dayton Mining Inc.
     ("Dayton") on March 31, 2000 for common shares of Dayton. As a result of
     this transaction and the sale to Dayton of certain other assets, the
     Company holds an approximate 33% interest in the Denton-Rawhide and
     Andacollo mines from April 1, 2000. Accordingly, year - 2001 production
     includes approximately 33% of Andacollo and Denton-Rawhide production
     attributable to the Dayton ownership interest.



<PAGE>


<TABLE>
<CAPTION>

Cash operating costs
($ per ounce of gold equivalent)
                                                                               Three months ended                Year ended
                                                                                  December 31                   December 31
                                                                          ----------------------------- ----------------------------
                                                                               2001           2000           2001           2000
                                                                          ---------------- ------------ --------------- ------------
<S>                                                                       <C>               <C>          <C>              <C>
       Primary operations:
           Fort Knox
                                                                                      236          167             207           203
           Hoyle Pond
                                                                                      169          193             181           208
           Kubaka
                                                                                      106          102             118           111
           Refugio
                                                                                      183          321             229           286
           Blanket
                                                                                      385          266             275           236
                                                                          ---------------- ------------ --------------- ------------

                                                                                      191          171             184           187
                                                                          ---------------- ------------ --------------- ------------
        Other operations:
           Denton-Rawhide
                                                                                      234          289             248           243
           Andacollo
                                                                                      269          229             254           284
           Hayden Hill
                                                                                        -          317             267           227
           Guanaco
                                                                                        -          362             413           258
                                                                          ---------------- ------------ --------------- ------------

                                                                                      246          282             260           256
                                                                          ---------------- ------------ --------------- ------------


                                                                                      192          177             186           193
                                                                          ================ ============ =============== ============
Total cash costs
($ per ounce of gold equivalent)
        Primary operations:
            Fort Knox
                                                                                      236          167             207           203
            Hoyle Pond
                                                                                      169          193             182           209
            Kubaka
                                                                                      133          113             140           139
            Refugio
                                                                                      196          334             242           300
            Blanket
                                                                                      393          266             279           236
                                                                          ---------------- ------------ --------------- ------------

                                                                                      199          175             191           197
                                                                          ---------------- ------------ --------------- ------------
        Other operations:
            Denton-Rawhide
                                                                                      234          289             248           243
            Andacollo
                                                                                      275          233             259           289
            Hayden Hill
                                                                                        -          328             277           240
            Guanaco
                                                                                        -          385             436           278
                                                                          ---------------- ------------ --------------- ------------

                                                                                      248          289             263           263
                                                                          ---------------- ------------ --------------- ------------


                                                                                      200          181             193           202
                                                                          ================ ============ =============== ============



<PAGE>



Kinross Gold Corporation
Gold Production and Cost Summary

                                                                               Three months ended                Year ended
                                                                                  December 31                   December 31
                                                                          ----------------------------- ----------------------------
                                                                               2001           2000           2001           2000
                                                                          ---------------- ------------ --------------- ------------

Fort Knox
      Tonnes milled/crushed (000's) (1)
                                                                                  3,795.5      3,464.7        14,209.1      13,603.2
      Grade (grams per tonne)
                                                                                     1.00         1.14            1.05          0.94
      Recovery                                                                        85%          89%             89%           89%
      Gold equivalent production to dore (2)
                                                                                  104,521      112,745         411,221       362,959
      Per ounce:
          Total cash costs                                                      $     236      $   167        $    207       $   203
          Depreciation, depletion and amortization
                                                                                      107           89             104            88
          Site restoration cost accruals
                                                                                        3            4               3             3
                                                                          ---------------- ------------ --------------- ------------
          Total production costs                                                $     346      $   260        $    314       $   294
                                                                          ================ ============ =============== ============


Hoyle Pond
      Tonnes milled/crushed (000's) (1)
                                                                                    127.6        119.0           443.9         460.6
      Grade (grams per tonne)
                                                                                    12.91        11.82           12.40         11.27
      Recovery                                                                        90%          80%             88%           84%
      Gold equivalent production to dore (2)
                                                                                   46,051       36,299         156,581       140,441
      Per ounce:
          Total cash costs                                                      $     169      $   193        $    182       $   209
          Depreciation, depletion and amortization
                                                                                       64          102              82            93
          Site restoration cost accruals
                                                                                        3            -               1             1
                                                                          ---------------- ------------ --------------- ------------
          Total production costs                                                $     236      $   295        $    265       $   303
                                                                          ================ ============ =============== ============


Kubaka (3)
      Tonnes milled/crushed (000's) (1)
                                                                                    223.3        217.6           889.3         856.8
      Grade (grams per tonne)
                                                                                    16.05        16.30           15.28         16.28
      Recovery                                                                        98%          98%             98%           98%
      Gold equivalent production to dore (2)
                                                                                   62,415       62,373         237,162       244,641
      Per ounce:
          Total cash costs                                                      $     133      $   113        $    140       $   139
          Depreciation, depletion and amortization
                                                                                       98          133             101           126
          Site restoration cost accruals
                                                                                        3            2               2             3
                                                                          ---------------- ------------ --------------- ------------
          Total production costs                                                $     234      $   248        $    243       $   268
                                                                          ================ ============ =============== ============





<PAGE>



Refugio (4)
     Tonnes milled/crushed (000's) (1)
                                                                                       -      1,556.5         4,643.9       8,801.4
     Grade (grams per tonne)
                                                                                       -         0.94            0.95          0.94
     Recovery                                                                                     64%             64%           64%
                                                                                       -
     Gold equivalent production to dore (2)
                                                                                  10,130       21,033          67,211        85,184
     Per ounce:
         Total cash costs                                                      $     196      $   334        $    242       $   300
         Depreciation, depletion and amortization
                                                                                       -           43               -            46
         Site restoration cost accruals
                                                                                       -            5               -             5
                                                                         ---------------- ------------  -------------- -------------
         Total production costs                                                $     196      $   382        $    242       $   351
                                                                         ================ ============  ============== =============


Blanket
      Tonnes milled/crushed (000's) (1)
                                                                                   295.5        123.1         1,200.3         705.9
      Grade (grams per tonne)
                                                                                    1.40         2.56            1.64          1.96
      Recovery                                                                       67%          79%             63%           78%
      Gold equivalent production to dore (2)
                                                                                   8,879        8,030          39,592        34,571
      Per ounce:
          Total cash costs                                                     $     393      $   266        $    279       $   236
          Depreciation, depletion and amortization
                                                                                      56           62              58            64
          Site restoration cost accruals
                                                                                       4           12               3             3
                                                                          --------------- ------------  -------------- -------------
          Total production costs                                               $     453      $   340        $    340       $   303
                                                                         ================ ============  ============== =============
</TABLE>


           (1) Tonnes milled/crushed represents 100% of mine production (2) Gold
           equivalent to dore represents the Company's share (3) 54.7% ownership
           interest (4) 50% ownership interest


- --------
1 In this context, Kinross' obligations are defined as long-term debt (including
current portion) plus preferred shares and the face value of the convertible
debentures.







</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>11
<FILENAME>kin6kex99i.txt
<DESCRIPTION>EXHIBIT 99I
<TEXT>


                                                                     EXHIBIT 99i


                            KINROSS GOLD CORPORATION
                             MATERIAL CHANGE REPORT




Item 1.   Reporting Issuer

The  reporting  issuer  filing  this  material  change  report is  Kinross  Gold
Corporation ("Kinross").

Item 2.   Dates of Material Changes

April 1, 2002

Item 3.   Press Releases

Press  release was issued by Kinross in Toronto on April 1, 2002 with respect to
the material changes and filed via SEDAR.

Item 4.   Summary of Material Change

On April 1, 2002  Kinross  Gold  Corporation  announced  the results of the Cash
Tender Offer for the Kinam $3.75 Series B. Convertible  Preferred Shares made by
Kinross Gold U.S.A., Inc., its wholly owned subsidiary.

Item 5.   Full Description of Material Change

Kinross Gold Corporation  announced today that an aggregate of 652,992 shares of
Kinam's $3.75 Series B Convertible  Preferred Shares were tendered into Kinross'
cash tender offer which expired March 28, 2002.  The tender offer by Kinross was
to acquire the $3.75 Series B Convertible Preferred Shares of Kinam that Kinross
did not previously own for a price of $16.00 per share. Kinross has accepted all
shares  that were  tendered,  giving it  ownership  of 86.9% of the  issued  and
outstanding  Kinam Preferred  Shares.  Kinross has transferred the money for the
shares that were accepted to Alpine Fiduciary Services, Inc., the depositary for
the tender offer,  which will disperse the funds to the shareholders  during the
week of April 1, 2002.

In order to  accommodate  those  holders  of Kinam  $3.75  Series B  Convertible
Preferred  Shares  who  were  not  able to  tender  their  shares  prior  to the
expiration  date for any  reason,  Kinross is  providing a  subsequent  offering
period that will extend through 5:00 p.m. Eastern Time on April 4, 2002. Holders
who did not  participate  during the initial  offering  period can tender  their
shares by  complying  with the delivery  instructions  set forth in the Offer to
Purchase and Transmittal Letter previously provided to shareholders. All tenders
must be received by Alpine Fiduciary Services, Inc. before the expiration of the
subsequent  offering  period at 5:00 p. m. Eastern Time on April 4, 2002.  There
will be no  withdrawal  rights  during the  subsequent  offering  period and all
shares tendered will be immediately accepted by Kinross. Kinross will pay $16.00
per share for all  shares  properly  tendered  during  the  subsequent  offering
period.  Holders who properly  tendered their shares during the initial offering
period  do not need to take  any  further  action.  Holders  seeking  additional
information  on how to tender their shares or any other aspect of the subsequent
offering  period should contact the  Information  Agent,  Georgeson  Shareholder
Communications, Inc., at (800) 223-2064.


Item 6.   Reliance  on  Section  75(3)  of  the  Securities  Act  (Ontario)  and
analogous securities legislation of each of the other provinces of Canada.

N/A

Item 7.   Omitted Information

N/A




<PAGE>


                                        2


Item 8.   Senior Officer

         Ms. Shelley M. Riley
         Corporate Secretary
         Telephone: (416) 365-5198
         Facsimile: (416) 365-0237

Item 9.   Statement of Senior Officer

          The foregoing  accurately  discloses the material  change  referred to
          herein.

          DATED at Toronto this 5th day of April, 2002.

                                             KINROSS GOLD CORPORATION


                                             PER:   Shelley M. Riley/
                                                    -----------------
                                                    Shelley M. Riley
                                                    Corporate Secretary


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>12
<FILENAME>kin6kex99j.txt
<DESCRIPTION>EXHIBIT 99J
<TEXT>


                                                                     EXHIBIT 99j


                            KINROSS GOLD CORPORATION
                             MATERIAL CHANGE REPORT


Item 1.   Reporting Issuer

The  reporting  issuer  filing  this  material  change  report is  Kinross  Gold
Corporation ("Kinross").

Item 2.   Dates of Material Change

April 11, 2002

Item 3.   Press Releases

Press release was issued by Kinross in Toronto on April 11, 2002 with respect to
the material change and filed via SEDAR.

Item 4.   Summary of Material Change

Kinross Gold Corporation  announced that it had signed a letter of understanding
with a wholly owned  subsidiary of Placer Dome Inc.,  Placer Dome (CLA) Limited,
to form a joint  venture that will combine the two  companies'  respective  gold
mining operations in the Porcupine district in Ontario, Canada.

Item 5.   Full Description of Material Change

Kinross Gold  Corporation  (TSE-K;  AMEX-KGC) is pleased to announce that it has
signed a letter of  understanding  with a wholly owned subsidiary of Placer Dome
Inc.  (TSE-PDG;  NYSE-PDG),  Placer Dome (CLA) Limited,  to form a joint venture
that will combine the two companies'  respective  gold mining  operations in the
Porcupine district in Ontario, Canada.

Placer  will own a 51%  interest  and  Kinross  will own a 49%  interest  in the
Porcupine  Area Joint  Venture,  which will be operated  by a Placer  affiliate.
Placer will  contribute  the Dome mine and mill and Kinross will  contribute the
Hoyle  Pond,  Pamour and  Nighthawk  Lake mines as well as the Bell Creek  mill.
Future capital and operating  costs will be shared in proportion to each party's
ownership interest.

According  to Kinross  Chairman  and CEO,  Robert  Buchan "This will achieve the
ultimate synergies for our Timmins area assets that Kinross has been striving to
attain over the past several  years.  These include lower  operating  costs,  an
opportunity  to  economically  process  the Pamour "60 Pit" and  numerous  other
resources  while  allowing  exploration  and  development of new projects in the
Timmins camp to proceed."

As of December 31, 2001  Kinross'  reserves in the  Porcupine  district  totaled
1.160  million  ounces of gold,  using a $300 per ounce gold  price  assumption.
Measured and  indicated  resources  (excluding  reserves)  totaled 3.045 million
ounces  of gold,  with a  further 2  million  ounces  in the  inferred  resource
category.  The impact of this  transaction is expected to result in a conversion
of  approximately  1.3  million  ounces  of gold  from  measured  and  indicated
resources  at the Pamour "60 Pit" to proven and probable  reserves  using a gold
price assumption of $300 per ounce. Consequently, Pamour "60 Pit" reserves would
be expected  to total  approximately  2.1 million  ounces and are in addition to
year-end  reserves  of over 0.4 million  ounces at the Hoyle Pond mine.  For the
first quarter of 2002, the Hoyle Pond operation  produced  53,476 ounces of gold
equivalent at a total cash cost of $144 per ounce.

As of  December  31,  2001  proven and  probable  reserves at the Dome mine were
approximately  1.3 million ounces of gold, using a gold price assumption of $275
per ounce.  Measured and indicated  resources totaled  approximately 2.1 million
ounces of gold.

The  formation of the joint venture is subject to several  conditions  including
due diligence, completion




<PAGE>


                                        2


of a definitive agreement,  and the approval of the respective Placer Dome (CLA)
Limited and Kinross Boards of Directors.

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  ("Kinross"),  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.

Item 6.   Reliance  on  Section  75(3)  of  the  Securities  Act  (Ontario)  and
analogous securities legislation of each of the other provinces of Canada.

N/A

Item 7.   Omitted Information

N/A

Item 8.   Senior Officer

         Ms. Shelley M. Riley
         Corporate Secretary
         Telephone: (416) 365-5198
         Facsimile: (416) 365-0237

Item 9.   Statement of Senior Officer

          The foregoing  accurately  discloses the material  change  referred to
          herein.

          DATED at Toronto this 11th day of April, 2002.


                                             KINROSS GOLD CORPORATION


                                             PER:   Shelley M. Riley/
                                                    -----------------
                                                    Shelley M. Riley
                                                    Corporate Secretary



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>13
<FILENAME>kin6kex99k.txt
<DESCRIPTION>EXHIBIT 99K
<TEXT>


                                                                     EXHIBIT 99k


                            KINROSS GOLD CORPORATION
                             MATERIAL CHANGE REPORT




Item 1.   Reporting Issuer

The  reporting  issuer  filing  this  material  change  report is  Kinross  Gold
Corporation ("Kinross").

Item 2.   Dates of Material Changes

April 30, 2002

Item 3.   Press Releases

Press release was issued by Kinross in Toronto on April 30, 2002 with respect to
the material changes and filed via SEDAR.

Item 4.   Summary of Material Change

On April 30, 2002 Kinross  announced the financial results for the first quarter
ended March 31, 2002.

Item 5.   Full Description of Material Change

See attached press release dated April 30, 2002.

Item 6.   Reliance  on  Section  75(3)  of  the  Securities  Act  (Ontario)  and
analogous securities legislation of each of the other provinces of Canada.

N/A

Item 7.   Omitted Information

N/A

Item 8.   Senior Officer

         Ms. Shelley M. Riley
         Corporate Secretary
         Telephone: (416) 365-5198
         Facsimile: (416) 365-0237




<PAGE>


                                        2


Item 9.  Statement of Senior Officer

          The foregoing  accurately  discloses the material  change  referred to
          herein.


          DATED at Toronto this 1st day of May, 2002.

                                             KINROSS GOLD CORPORATION


                                             PER:   Shelley M. Riley/
                                                    -----------------
                                                    Shelley M. Riley
                                                    Corporate Secretary




<PAGE>


                                                                      Attachment
                                                                      ----------


                                  PRESS RELEASE                   April 30, 2002


Toronto, Ontario - KINROSS GOLD CORPORATION (TSE-K; AMEX-KGC) announced today
the results for the three months ended March 31, 2002 are as follows:

All results are expressed in United States dollars unless otherwise stated.

In the first quarter of 2002, the Company's three primary mines produced more
gold equivalent ounces at slightly higher total cash costs per ounce than the
first quarter of the previous year. Excluding the cash gain on the restructuring
of gold forward sales contracts during the first quarter of 2001, cash flow
provided from operating activities improved dramatically in the first quarter of
2002 when compared to the first quarter of 2001. During the quarter, the Company
continued with its strategy to reduce the outstanding convertible preferred
shares of Kinam ("Kinam Preferred Shares"), thus improving the perceived quality
of our balance sheet. During the first quarter the Company's net free cash
balance increased by $9.0 million. "We continue to remain focused on our total
obligations [OBJECT OMITTED]and on reducing those wherever possible" Robert M
Buchan, Chairman and Chief Executive Officer said, "During the first quarter we
repaid $10.5 million of long-term debt and completed a cash tender offer
acquiring Kinam Preferred Shares with a book value of $35.6 million for $10.4
million".

FIRST QUARTER CONSOLIDATED RESULTS

Gold equivalent production of 225,302 ounces at total cash costs of $197 per
ounce, combined with positive changes in working capital resulted in cash flow
provided from operating activities of $19.9 million or $0.06 per share during
the first quarter of 2002. This compares to gold equivalent production of
239,352 ounces at total cash costs of $191 per ounce that resulted in cash flow
provided from operating activities of $32.7 million or $0.11 per share during
the first quarter of 2001, which included $21.1 million or $0.07 per share of
proceeds from the restructuring of gold forward sales contracts. The Company
recorded a net loss of $7.9 million or $0.03 per share for the first quarter of
2002, compared to a net loss of $3.5 million or $0.02 per share for the first
quarter of 2001. The 2001 first quarter results as well as the December 31, 2001
balance sheet have been restated to comply with the new Canadian GAAP treatment
of unrealized foreign exchange gains (see Note 2 to the Consolidated Financial
Statements for details of this restatement).

REVENUES

GOLD AND SILVER SALES

The Company's primary source of revenue is from the sale of its gold production.
The Company sold 231,673 ounces of gold during the first quarter of 2002,
compared with 229,909 ounces in 2001. Revenue from gold and silver sales was
$68.8 million in the first quarter of 2002 compared with $64.1 million in 2001.
Revenue from gold and silver sales in the first quarter of 2002 was higher than
2001 due to higher realized prices. In the first quarter of 2002, the Company
realized $295 per ounce of gold, compared with $277 in 2001. The average spot
price for gold was $290 per ounce in the first quarter of 2002 compared with
$264 in 2001.


<TABLE>
<CAPTION>
SUMMARY INFORMATION
FOR THE THREE MONTHS ENDED MARCH 31,                        2002        2001
                                                          --------    --------
<S>                                                       <C>         <C>
Attributable gold equivalent production - ounces
                                                           225,302     239,352
Attributable gold production - ounces
                                                           223,956     237,392
Gold sales - ounces (excluding equity accounted ounces)
                                                           231,673     229,603
Gold revenue (millions)                                   $   68.3    $   63.6
Average realized gold price per ounce                     $    295    $    277
Average spot gold price per ounce                         $    290    $    264
</TABLE>


Included in gold equivalent production is silver production converted to gold
production using a ratio of the average spot market prices for the two
comparative periods. The resulting ratios are 64.70:1 in 2002 and 58.06:1 in
2001.

INTEREST AND OTHER INCOME

The Company invests its surplus cash in high quality, interest-bearing cash
equivalents. Interest and other income during the first quarter of 2002 totaled
$1.2 million compared with $2.5 million in 2001. Interest and other income in
the first quarter of 2002 declined due to lower interest earned on cash deposits
due to substantially lower interest rates.

MARK-TO-MARKET GAIN (LOSS) ON WRITTEN CALL OPTIONS

Premiums received at the inception of written call options are recorded as a
liability at the time of issuance. Changes in the fair value of the liability
are recognized in earnings. The change in fair value of the written call options
during the first quarter of 2002 resulted in a mark to market loss of $1.0
million compared with a gain of $3.1 million in 2001.

COSTS AND EXPENSES

OPERATING COSTS

Gold sales in the first quarter of 2002, (excluding equity accounted ounces)
increased by 1% when compared with 2001 first quarter sales, while operating
costs increased by 5%. Consolidated operating costs were $46.8 million in the
first quarter of 2002 compared to $44.7 million in 2001. Total cash costs per
ounce of gold equivalent produced were $197 in the first quarter of 2002
compared to $191 in 2001. Total cash costs per ounce of gold equivalent in the
first quarter of 2002, when compared to 2001, improved at the Hoyle Pond mine,
remained constant at the Kubaka mine and increased at the Fort Knox mine.

The following table provides a reconciliation of operating costs per the
consolidated financial statements to operating costs for per ounce calculation
of total cash costs pursuant to the Gold Institute guidelines.


<TABLE>
<CAPTION>
RECONCILIATION OF TOTAL CASH COSTS PER
EQUIVALENT OUNCE OF GOLD TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE
MONTHS ENDED MARCH 31, (millions except production in ounces and per ounce
amounts)
                                                  ----------       ----------
                                                     2002             2001
                                                  ----------       ----------
<S>                                               <C>              <C>
Operating costs per financial statements          $    46.8        $    44.7
Kinross' share of Dayton's operating costs              1.5              2.1
Blanket mine operating costs                            2.5             --
Site restoration cost accruals                         (0.8)            (0.4)
Change in bullion inventory and other                  (5.7)            (0.8)
                                                  ----------       ----------
Operating costs for per ounce calculation
        purposes                                  $    44.3        $    45.6
                                                  ----------       ----------
Gold equivalent production - ounces                 225,302          239,352
Total cash costs per equivalent ounce of gold     $     197        $     191
</TABLE>

Details of the individual mine performance are discussed in the following
sections.

FORT KNOX MINE

The Fort Knox open pit mine, located near Fairbanks, Alaska includes the results
of operations for both the True North and Fort Knox open pit mines. Gold
equivalent production in the first quarter of 2002 was 93,160 ounces compared to
100,347 in 2001. During the first quarter of 2002, total cash costs were $256
per ounce of gold equivalent compared to $186 in 2001. Cash production costs
were $5.2 million higher than the first quarter of 2001 due primarily to the
operation of the True North mine, which was not active during the same period in
2001. Total cash costs per ounce exceeded plan by 7% due primarily to lower than
reserve grades coming from the Fort Knox open pit. The current mine plan has
mining of this lower grade portion of the Fort Knox open pit ending in the
second quarter of 2002. The True North open pit provided slightly higher than
anticipated grades demonstrating a much-improved reconciliation with the revised
True North reserve model. Also impacting costs during the first quarter of 2002
when compared to 2001 was significant planned maintenance spending on the Fort
Knox operating fleet. This maintenance effort will be completed early in the
second quarter resulting in reduced costs and higher equipment availability and
production for the remainder of the year. Estimated production and total cash
costs per ounce for the year remain unchanged from previous estimates of 440,000
ounces of gold equivalent at total cash costs of $210 per ounce.

Capital expenditures at the Fort Knox operations during the first quarter of
2002 were $1.0 million compared with $7.9 million during 2001. Capital
expenditures during the first quarter of 2002 involved engineering and design
work on the new thickener at the Fort Knox mill and the purchase of a road
grader for the True North mine.

HOYLE POND MINE

The Hoyle Pond underground mine is located in Timmins, Ontario. Gold equivalent
production in the first quarter of 2002 was 53,476 ounces compared to 36,066
ounces in 2001. In the first quarter of 2002, total cash costs were $144 per
ounce of gold equivalent compared to $208 in 2001. Cash production costs were on
plan during the first quarter of 2002, unchanged from 2001. Higher gold
equivalent production due to a 28% increase in the grade of ore processed, and a
7% increase in mill tonnages processed, resulted in the lower per ounce total
cash costs.

Capital expenditures at the Hoyle Pond operations during the first quarter of
2002 were $1.7 million compared to $3.0 million during 2001. Capital
expenditures during the first quarter of 2002 were required to further advance
the 1060 ramp, underground development drilling and underground fleet
replacements.

The Company is currently involved in completing due diligence and negotiating
the joint venture agreement with Placer Dome Inc. that will combine the two
companies operations in the Porcupine mining camp located in Timmins, Ontario.
Once completed and effective, which is anticipated to be early in the third
quarter of 2002, the Company will provide revised estimates of its share of
production, total cash costs and capital expenditures for 2002. Preliminary
expectations, based on an assumed effective date of July 1, 2002 for the joint
venture are for Kinross Timmins gold production in 2002 to grow to almost
200,000 ounces at total cash costs of approximately $175 per ounce.

KUBAKA MINE (54.7% OWNERSHIP INTEREST)

The Kubaka open pit mine is located in the Magadan Oblast in the Russian Far
East. The Company's share of gold equivalent production in the first quarter of
2002 was 56,645 ounces compared to 56,175 ounces in 2001. In the first quarter
of 2002, total cash costs were $141 per gold equivalent ounce unchanged from
2001. The Kubaka mine continues to perform exceptionally well. Cash production
costs were on plan during the first quarter of 2002, unchanged from 2001. In the
first quarter of 2002, mill tonnages processed declined by 7%, which was
compensated by an 8% increase in the grade of the ore processed.

Open pit mining operations at Kubaka will continue until the third quarter of
2002. After the open pits are exhausted, gold reserves will be mined in the
North High Wall, Center Zone and North Vein using underground mining methods.
This program is scheduled to start in the third quarter of 2002 and continue
through the second quarter of 2003. Currently, final approval of mine plans is
being sought for these projects.

Exploration activities at the Birkachan project continued during the quarter.
The Company completed a preliminary estimate of mineral resources, for the
Birkachan project during the first quarter. The Company is pleased to announce
the inferred resources (100% basis) are estimated to contain 726,700 tonnes at a
grade of 18.76 grams per tonne for approximately 438,000 ounces of gold. The
Company has commenced the process of converting the exploration license at
Birkachan to a mining license.

OTHER OPERATIONS

In addition to its primary operating mines, the Company has ownership interests
in other locations including the Refugio mine, which is in residual leach
production and the Blanket mine in Zimbabwe. Gold equivalent production at these
locations during the first quarter of 2002 was a total of 22,021 ounces of gold
equivalent at total cash costs of $219 per ounce.

OTHER EXPENSES

General, administration and exploration expenditures totaled $4.4 million in the
first quarter of 2002 compared with $4.6 million in 2001. The Company continues
to focus on containment of its overhead costs, but anticipates higher
exploration spending during the next three quarters. Exploration activities will
increase as the Company completes the exploration programs required to expend
the flow-through funds raised in late 2001.

DEPRECIATION, DEPLETION AND AMORTIZATION

Depreciation, depletion and amortization totaled $21.8 million during the first
quarter of 2002 compared with $19.4 million in 2001. Depreciation, depletion and
amortization have increased to $94 per equivalent ounce of gold sold in the
first quarter of 2002, from $84 in 2001. Depreciation, depletion and
amortization increased primarily due to a change in the mix of production at the
Fort Knox Mine. The True North production has a higher per ounce charge than the
Fort Knox production.

INTEREST EXPENSE ON LONG-TERM LIABILITIES

Interest expense on long-term liabilities totaled $1.5 million during the first
quarter of 2002, compared with $2.6 million in 2001. Interest expense on
long-term liabilities during the first quarter of 2002 is comprised of $0.6
million related to the Fort Knox industrial revenue bonds and capital leases,
$0.7 million on the debt component of convertible debentures and the balance on
the Kubaka project financing debt. Interest expense decreased in 2002 due to
lower debt balances outstanding and lower interest rates.

PROVISION FOR INCOME AND MINING TAXES

Provision for income and mining taxes totaled $1.4 million during the first
quarter of 2002 compared with $1.0 million in 2001. Income taxes during the
first quarter of 2002 comprised of $1.3 million of Russian income taxes and
Canadian large corporations tax of $0.1 million.

DIVIDENDS ON CONVERTIBLE PREFERRED SHARES OF SUBSIDIARY COMPANY

Cumulative dividends accrued on the convertible preferred shares of subsidiary
company ("Kinam Preferred Shares") held by non-affiliated shareholders were $0.8
million during the first quarter of 2002 compared with $1.7 million in 2001. A
lower number of Kinam Preferred Shares held by non-affiliated shareholders when
compared with the first quarter of 2001 resulted in the lower dividend accrual.

LIQUIDITY AND FINANCIAL RESOURCES

OPERATING ACTIVITIES

Cash flow provided from operating activities during the first quarter of 2002
was $19.9 million compared with $32.7 million in 2001. Included in the first
quarter 2001 cash flow from operating activities was $21.1 million of cash flow
generated upon the restructuring of certain spot deferred forward sales
contracts. The first quarter 2002 cash flow from operating activities was
positively effected by nominally higher gold sales and a 6% increase in average
realized gold prices. The 2002 cash flow from operating activities was used to
finance capital expenditures and service existing debt.

FINANCING ACTIVITIES

During the first quarter of 2002, the Company completed an equity issue and
issued 23.0 million common shares from treasury for net proceeds of $18.5
million. The majority of the funds received were used on March 28, 2002 to
acquire Kinam Preferred Shares with a book value of $35.6 million for $10.4
million ($11.1 million including costs of the tender offer).

The debt component of convertible debentures was reduced by $1.3 million during
the first quarter of 2002 compared to $1.3 million during 2001. Long-term debt
repayments were $10.5 million during the first quarter of 2002 compared to $24.3
million during 2001. Long-term debt repayment during the first quarter of 2002
were comprised of $9.0 million of the Fort Knox industrial revenue bonds, $1.0
million of capital leases and $0.5 million of Kubaka project financing debt.

The Company did not declare and pay any dividends on the Kinam Preferred Shares
during the first quarter of 2002 or 2001.

As at March 31, 2002, the Company had a $50.0 million operating line of credit
in place with a bank syndicate, which is utilized for letters of credit
purposes. As at March 31, 2002, $54.0 million of letters of credit were issued
under this facility, which required the Company to restrict $4.0 million of cash
as security for the excess letters of credit outstanding. The Company has
extended the final maturity date of the operating line of credit to April 2,
2003. The Company is currently in the process of re-marketing this credit
facility with the intention of increasing its size and extending the final
maturity date.

As at March 31, 2002, the Company's long-term debt consists of $3.7 million
relating to the Kubaka project financing, $40.0 million of Fort Knox industrial
revenue bonds and various capital leases and other debt of $9.9 million. The
current portion of the long-term debt is $22.1 million.

INVESTING ACTIVITIES

Capital expenditures decreased by 73% in the first quarter of 2002 compared with
2001. During the first quarter of 2002, $3.1 million was spent on capital
additions, compared to $11.5 million in 2001. The first quarter 2002 capital
expenditures focused primarily on the Hoyle Pond and Fort Knox operations with
90% of total capital expenditures incurred at these two mines. Capital
expenditures were financed out of cash flow from operating activities.

COMMODITY PRICE RISKS

The Company has entered into gold forward sales contracts, spot deferred forward
sales contracts and written call options for some portion of expected future
production to mitigate the risk of adverse price fluctuations. The Company does
not hold these financial instruments for speculative or trading purposes. The
Company is not subject to margin requirements on any of its hedging lines.

The outstanding number of ounces, average expected realized prices and
maturities for the gold commodity derivative contracts as at March 31, 2002 are
as follows:

<TABLE>
<CAPTION>
                   OUNCES                          CALL OPTIONS       AVERAGE
                   HEDGED           AVERAGE            SOLD            STRIKE
  YEAR             000 OZ            PRICE            000 OZ           PRICE
  ----             ------           -------        ------------       -------

  <S>              <C>              <C>                 <C>           <C>
  2002               225             $ 285                50            $ 340
  2003               138               277               100              320
  2004               138               277                50              340
  2005                38               296                --               --
                    ----                                ----
 Total               539                                 200
                    ====                                ====
</TABLE>

The fair value of the call options sold is recorded in the financial statements
at each measurement date. The fair value of the gold forward sales and spot
deferred forward sales contracts was negative $14.2 million

CONTINGENCIES

The Company has been named as a defendant in a class action complaint filed on
or about April 26, 2002, entitled Robert A. Brown, et al.v. Kinross Gold U.S.A.,
Inc., et al., Case No. CV-S-02-0605-KJD-RJJ, brought in the United States
District Court for the District of Nevada. The complaint names as defendants the
Company, its subsidiary, Kinross Gold U.S.A., Inc., its subsidiary Kinam Gold
Inc., and Robert M. Buchan. The complaint is based on claims arising out of the
purchase of the Kinam Preferred Shares by the Company. The complaint seeks
damages in cash or by the issuance of common shares of the Company. The Company
believes this claim is without merit and plans to vigorously defend the
litigation.


OUTLOOK

As at March 31, 2002, the Company has $78.3 million of working capital, which
includes a strong cash balance. The Company is continually focused on improving
its balance sheet by reducing its obligations. In addition, the recently
announced intent to form the Porcupine Area Joint Venture with Placer Dome
combined with improved cash flow from operating activities due to higher spot
gold prices should allow the Company to pursue opportunities as they present
themselves.


Mr. Buchan, Chairman and CEO, is also pleased to announce the appointment of Mr.
Scott Caldwell to the positions of President and Chief Operating Officer. Mr.
Caldwell, previously Senior Vice President of Operations for Kinross, assumes
this role following the appointment of Art Ditto, previously President and COO,
to the position of Vice Chairman. Mr. Buchan stated "We welcome Scott to his new
positions and thank Art for his contributions over the years and we look forward
to his continued strategic counsel to the Company's operations and development
efforts in his new role."

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 ("Kinross"), 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.

For additional information, e-mail info@kinross.com or contact:
Robert M. Buchan           Gordon A. McCreary        Brian W. Penny
Chairman and               Vice President,           Vice President, Finance
Chief Executive Officer    Investor Relations and    and Chief Financial Officer
                           Corporate Development
Tel. (416) 365-5650        Tel. (416) 365-5132       Tel. (416) 365-5662




<TABLE>
<CAPTION>
GOLD EQUIVALENT PRODUCTION - OUNCES

                                              THREE MONTHS ENDED
                                                    MARCH 31
                                          --------------------------
                                            2002              2001
                                          --------          --------
<S>                                       <C>               <C>
PRIMARY OPERATIONS:

  Fort Knox                                 93,160           100,347
  Hoyle Pond                                53,476            36,066
  Kubaka (1)                                56,645            56,175
                                          --------          --------

                                           203,281           192,588
                                          --------          --------

OTHER OPERATIONS:

  Refugio (2)                                6,590            25,827
  Blanket                                    9,697            10,169
  Denton-Rawhide (3)                         3,876             4,403
  Andacollo (3)                              1,858             3,582
  Hayden Hill                                 --               1,065
  Guanaco                                     --               1,718
                                                            --------

                                            22,021            46,764
                                          --------          --------

Total gold equivalent ounces               225,302           239,352
                                          ========          ========

CONSOLIDATED PRODUCTION COSTS

($ per ounce of gold equivalent)
  Cash operating costs                    $    191          $    184
  Royalties                                      6                 7
                                          --------          --------
  Total cash costs                             197               191
  Reclamation                                    4                 2
  Depreciation and amortization                 94                84
                                          --------          --------
  Total production costs                  $    295          $    277
                                          ========          ========
</TABLE>

(1)  Represents the Companys's 54.7% ownership interest (1999 - 53%).

(2)  Represents the Companys's 50% ownership interest.

(3)  Includes proportionate share of Denton-Rawhide and Andacollo production
     attributable to the 32% Dayton ownership interest.


CASH OPERATING COSTS
($ per ounce of gold equivalent)
<TABLE>
<CAPTION>

                                           THREE MONTHS ENDED
                                                MARCH 31
                                          --------------------
                                           2002          2001
                                          ------        ------
<S>                                       <C>           <C>
  PRIMARY OPERATIONS:
   Fort Knox                              $  256        $  186
   Hoyle Pond                                143           207
   Kubaka                                    122           120
                                          ------        ------
                                             189           170
                                          ------        ------
  OTHER OPERATIONS:
   Refugio                                   117           231
   Blanket                                   253           218
   Denton-Rawhide                            230           268
   Andacollo                                 287           259
   Hayden Hill                              --             280
   Guanaco                                  --             413
                                                        ------
                                             211           242
                                          ------        ------

                                          $  191        $  184
                                          ======        ======
TOTAL CASH COSTS
($ per ounce of gold equivalent)

  PRIMARY OPERATIONS:
   Fort Knox                              $  256        $  186
   Hoyle Pond                                144           208
   Kubaka                                    141           141
                                          ------        ------
                                             195           177
                                          ------        ------
  OTHER OPERATIONS:
   Refugio                                   133           244
   Blanket                                   257           218
   Denton-Rawhide                            233           268
   Andacollo                                 295           264
   Hayden Hill                              --             289
   Guanaco                                  --             436
                                                        ------
                                             219           250
                                          ------        ------


                                          $  197        $  191
                                          ======        ======
</TABLE>


<TABLE>
<CAPTION>
KINROSS GOLD CORPORATION
GOLD PRODUCTION AND COST SUMMARY
FOR THE THREE MONTHS ENDED MARCH 31
                                                       2002              2001
                                                     --------          --------
<S>                                                  <C>               <C>
FORT KNOX
  Tonnes milled/crushed (000's) (1)                   3,545.4           3,303.1
  Grade (grams per tonne)                                0.98              1.09
  Recovery                                                 83%               87%
  Gold equivalent production to dore (2)               93,160           100,347
  Per ounce:
    Total cash costs                                 $    256          $    186
    Depreciation, depletion and amortization              118                81
    Site restoration cost accruals                          3                 3
                                                     --------          --------
    Total production costs                           $    377          $    270
                                                     ========          ========


HOYLE POND
  Tonnes milled/crushed (000's) (1)                     122.7             114.7
  Grade (grams per tonne)                               14.80             11.54
  Recovery                                                 92%               85%
  Gold equivalent production to dore (2)               53,476            36,066
  Per ounce:
    Total cash costs                                 $    144          $    208
    Depreciation, depletion and amortization               66                97
    Site restoration cost accruals                          7                 1
                                                     --------          --------
    Total production costs                           $    217          $    306
                                                     ========          ========


KUBAKA (3)
  Tonnes milled/crushed (000's) (1)                     209.0             222.8
  Grade (grams per tonne)                               15.55             14.40
  Recovery                                                 98%               98%
  Gold equivalent production to dore (2)               56,645            56,175
  Per ounce:
    Total cash costs                                 $    141          $    141
    Depreciation, depletion and amortization               83                99
    Site restoration cost accruals                          4              --
                                                     --------          --------
    Total production costs                           $    228          $    240
                                                     ========          ========
REFUGIO (4)

  Tonnes milled/crushed (000's) (1)                      --             2,857.2
  Grade (grams per tonne)                                --                0.97
  Recovery                                                  0%               64%
  Gold equivalent production to dore (2)                6,590            25,827
  Per ounce:
    Total cash costs                                 $    133          $    244
    Depreciation, depletion and amortization             --                --
    Site restoration cost accruals                       --                --
                                                     --------          --------
    Total production costs                           $    133          $    244
                                                     ========          ========

BLANKET
  Tonnes milled/crushed (000's) (1)                     281.0             275.6
  Grade (grams per tonne)                                1.55              1.56
  Recovery                                                 69%               74%
  Gold equivalent production to dore (2)                9,697            10,169


  Per ounce:
    Total cash costs                                 $    257          $    218
    Depreciation, depletion and amortization             --                  62
    Site restoration cost accruals                       --                   3
                                                     --------          --------
    Total production costs                           $    257          $    283
                                                     ========          ========
</TABLE>

(1)  Tonnes milled/crushed represents 100% of mine production

(2)  Gold equivalent to dore represents the Company's share

(3)  54.7% ownership interest

(4)  50% ownership interest



<TABLE>
<CAPTION>
CONSOLIDATED BALANCE SHEETS
(expressed in millions of U.S. dollars) (unaudited)
                                                            AS AT      AS AT
                                                          MARCH 31   DECEMBER 31
                                                          --------   -----------
                                                            2002        2001
                                                          --------    --------
ASSETS                                                              (Re-stated -
                                                                         Note 2)
<S>                                                       <C>         <C>
  Current assets
    Cash and cash equivalents                             $   90.0    $   81.0
    Restricted cash                                            4.0      --
    Accounts receivable                                        9.2        13.8
    Inventories                                               38.7        42.4
    Marketable securities                                      0.3         1.5
                                                          --------    --------
                                                             142.2       138.7
  Property, plant and equipment (Note 4)                     374.1       415.0
  Long - term investments                                     13.2        12.9
  Deferred charges and other assets                           11.5        11.0
                                                          --------    --------
                                                          $  541.0    $  577.6
LIABILITIES
  Current liabilities
    Accounts payable and accrued liabilities              $   30.3    $   31.0
    Current portion of long - term debt                       22.1        33.1
    Current portion of site restoration cost accruals         11.5        12.6
                                                          --------    --------
                                                              63.9        76.7


  Long-term debt                                              31.5        31.0
  Site restoration cost accruals                              43.8        43.0
  Future income and mining taxes                               3.3         3.3
  Deferred revenue                                             8.3         9.6
  Other long-term liabilities                                  6.7         6.0
  Debt component of convertible debentures                    24.9        26.0
  Redeemable retractable preferred shares                      2.4         2.4
                                                          --------    --------
                                                             184.8       198.0
                                                          --------    --------

CONVERTIBLE PREFERRED SHARES OF SUBSIDIARY COMPANY
    (NOTE 4)                                                  13.2        48.0
                                                          --------    --------

COMMON SHAREHOLDERS' EQUITY
  Common share capital                                       964.7       945.7
  Contributed surplus                                         12.9        12.9
  Equity component of convertible debentures                 127.0       124.8
  Deficit                                                   (733.2)     (723.2)
  Cumulative translation adjustments                         (28.4)      (28.6)
                                                          --------    --------
                                                             343.0       331.6
                                                          --------    --------

                                                          $  541.0    $  577.6
                                                          ========    ========
</TABLE>
CONTINGENCIES (NOTE 8)



[OBJECT OMITTED]
KINROSS GOLD CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31
(expressed in millions of U.S. dollars except per share amounts) (unaudited)
<TABLE>
<CAPTION>

                                                            THREE MONTHS ENDED
                                                                MARCH 31
                                                          ---------------------
                                                             2002        2001
<S>                                                       <C>         <C>
                                                          ---------   ---------
REVENUE                                                               (Re-stated
                                                                       - Note 2)

  Mining revenue                                          $    68.8   $    64.1
  Interest and other income                                     1.2         2.5
  Mark to market (loss) gain on call options                   (1.0)        3.1
                                                          ---------   ---------
                                                               69.0        69.7
                                                          ---------   ---------
EXPENSES
  Operating                                                    46.8        44.7
  General and administrative                                    2.3         2.7
  Exploration and business development                          2.1         1.9
  Depreciation, depletion and amortization                     21.8        19.4
                                                          ---------   ---------
                                                               73.0        68.7
                                                          ---------   ---------


(LOSS) INCOME BEFORE THE UNDERNOTED                            (4.0)        1.0
  Gain on sale of marketable securities                         0.3      --
  Foreign exchange (loss) gain                                 (0.8)        1.2
  Share in income (loss) of investee companies                  0.3        (0.4)
  Interest expense on long-term liabilities                    (1.5)       (2.6)
                                                          ---------   ---------


LOSS BEFORE TAXES AND DIVIDENDS ON CONVERTIBLE
PREFERRED SHARES OF SUBSIDIARY COMPANY                         (5.7)       (0.8)

PROVISION FOR INCOME AND MINING TAXES                          (1.4)       (1.0)
                                                          ---------   ---------

LOSS FOR THE PERIOD BEFORE DIVIDENDS ON CONVERTIBLE
  PREFERRED SHARES OF SUBSIDIARY COMPANY                       (7.1)       (1.8)

DIVIDENDS ON CONVERTIBLE PREFERRED SHARES OF
  SUBSIDIARY COMPANY                                           (0.8)       (1.7)
                                                          ---------   ---------

NET LOSS FOR THE PERIOD                                        (7.9)       (3.5)

INCREASE IN EQUITY COMPONENT OF CONVERTIBLE DEBENTURES         (2.1)       (1.9)
                                                          ---------   ---------

NET LOSS ATTRIBUTABLE TO COMMON SHARES                    $   (10.0)  $    (5.4)
                                                          =========   =========


  NET LOSS PER SHARE
Basic and fully diluted                                   $   (0.03)  $   (0.02)


WEIGHTED AVERAGE NUMBER COMMON SHARES OUTSTANDING             337.7       300.9
TOTAL OUTSTANDING AND ISSUED COMMON SHARES AT
  MARCH 31                                                    358.1       301.3
</TABLE>





KINROSS GOLD CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31
(expressed in millions of U.S. dollars) (unaudited)
<TABLE>
<CAPTION>

                                                              THREE MONTHS ENDED
                                                                  MARCH 31
                                                              -----------------
                                                                2001     2002
                                                              -------   -------
<S>                                                           <C>       <C>
NET INFLOW (OUTFLOW) OF CASH RELATED TO THE FOLLOWING
ACTIVITIES:                                                           (Re-stated
                                                                       - Note 2)
OPERATING:                                                    -------   -------
  Loss for the period before dividends on convertible
    preferred shares of subsidiary company                    $  (7.1)  $  (1.8)
  Items not affecting cash:
    Depreciation, depletion and amortization                     21.8      19.4
    Deferred revenue realized                                    (1.3)     (3.4)
    Site restoration cost accruals                                0.8       0.4
    Other                                                        (0.4)     (1.0)
                                                              -------   -------
                                                                 13.8      13.6
  Proceeds on restructuring of gold forward sale contracts     --          21.1
  Site restoration cash expenditures                             (1.1)     (1.2)
  Changes in non-cash working capital items
    Accounts receivable                                           4.6      (2.6)
    Inventories                                                   1.5       0.3
    Marketable securities                                         1.5    --
    Accounts payable and accrued liabilities                     (0.8)      2.1
  Effect of exchange rate changes on cash                         0.4      (0.6)
                                                              -------   -------
CASH FLOW PROVIDED FROM OPERATING ACTIVITIES                     19.9      32.7
                                                              -------   -------
FINANCING:
  Issuance of common shares, net                                 19.0       0.2
  Acquisition of preferred shares of subsidiary company         (11.1)   --
  Reduction of debt component of convertible debentures          (1.3)     (1.3)
  Repayment of debt                                             (10.5)    (24.3)
                                                              -------   -------
CASH FLOW USED IN FINANCING ACTIVITIES                           (3.9)    (25.4)
                                                              -------   -------
INVESTING:
  Additions to property, plant and equipment                     (3.1)    (11.5)
  Long-term investments and other assets                       --          (1.7)
  Proceeds from the sale of property, plant and equipment         0.1       1.0
  (Increase) decrease in restricted cash                         (4.0)      2.9
                                                              -------   -------
CASH FLOW USED IN INVESTING ACTIVITIES                           (7.0)     (9.3)
                                                              -------   -------

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                  9.0      (2.0)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                   81.0      77.8
                                                              -------   -------

CASH AND CASH EQUIVALENTS, END OF PERIOD                      $  90.0   $  75.8
                                                              =======   =======
SUPPLEMENTARY DISCLOSURE OF CASH FLOW INFORMATION:
  Cash paid for: Interest                                     $   0.6   $   1.4
  Taxes                                                       $   0.4   $   0.3
</TABLE>



NOTES TO FIRST QUARTER INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

1.       BASIS OF PRESENTATION

         The interim consolidated financial statements (the "financial
         statements") of Kinross Gold Corporation (the "Company") have been
         prepared in accordance with the accounting principles and methods of
         application disclosed in the consolidated financial statements for the
         year ended December 31, 2001, except for those indicated below.

         The accompanying interim unaudited consolidated financial statements
         include all adjustments that are, in the opinion of management,
         necessary for a fair presentation. These financial statements do not
         include all disclosures required by Canadian Generally Accepted
         Accounting Principles for annual financial statements, and accordingly
         the financial statements should be read in conjunction with the
         financial statements and notes thereto contained in the Company's
         annual report for the year ended December 31, 2001.

2.       NEW PRONOUNCEMENTS

         Effective January 1, 2002, the Company adopted the new Canadian
         Institute of Chartered Accountants ("CICA") recommendations for foreign
         currency translation. This standard eliminates the practice of
         deferring and amortizing unrealized translation gains and losses on
         foreign currency denominated monetary items that have a fixed or
         ascertainable life extending beyond the end of the fiscal year
         following the current reporting period. Foreign exchange gains and
         losses arising on translation of these monetary items are now included
         in the determination of current period losses. The Company previously
         had unrealized foreign exchange gains and losses on converting the debt
         component of Canadian dollar dominated convertible debentures to U.S.
         dollars. In addition, the Canadian dollar denominated retractable
         preferred shares were translated to U.S dollars at the historical rate
         on the date of issue. The adoption of this new standard has been
         applied retroactively, with prior year comparative amounts restated.
         The effects on the consolidated financial statements are as follows:

          Change in Statement of Operations and Deficit amounts:
          ($ millions)                                                    2001
                                                                         ------

         Increase in foreign exchange gain for the three months ended
           March 31, 2001                                                  1.4

         Decrease in net loss for the three months ended
           March 31, 2001                                                 (1.4)

         Decrease in deficit - December 31, 2000                           2.2

         Decrease in deficit - December 31, 2001                           2.8

3.       FINANCIAL INSTRUMENTS

         The Company manages its exposure to fluctuations in commodity prices,
         foreign exchange rates and interest rates by entering into derivative
         financial instrument contracts in accordance with the formal risk
         management policy approved by the Company's Board of Directors. The
         Company does not hold or issue derivative contracts for speculative or
         trading purposes.

         Realized and unrealized gains or losses on derivative contracts, that
         qualify for hedge accounting, are deferred and recorded in income when
         the underlying hedged transaction is recognized. Gains on the early
         settlement of gold hedging contracts are recorded as deferred revenue
         on the balance sheet and included in income over the original delivery
         schedule of the hedged production.

         Premiums received at the inception of written call options are recorded
         as a liability. Changes in the fair value of the liability are
         recognized currently in earnings. In the first quarter of 2002, the
         mark-to-market adjustments increased the liability by $1.0 million.

4.       ACQUISITION OF CONVERTIBLE PREFERRED SHARES OF SUBSIDIARY COMPANY

         In 2001, the Company embarked on a strategy to reduce the outstanding
         book value of the Convertible Preferred Shares of Subsidiary Company
         ("Kinam Preferred Shares"). The benefit to future consolidated results
         would be a reduced accrual of the dividends on the Kinam Preferred
         Shares and lower non-cash charges, such as depreciation, depletion and
         amortization, due to a negative purchase price discrepancy resulting
         from the transaction being applied to the carrying value of property,
         plant and equipment since the Kinam Preferred Shares were trading at a
         discount to their book value. During 2001, the Company acquired 945,400
         Kinam Preferred Shares with a book value of $48.9 million in exchange
         for 24,186,492 common shares of the Company valued at $23.2 million.
         The $25.7 million difference in value associated with this transaction
         was applied against the carrying value of certain property, plant and
         equipment.

         Continuing with the strategy to reduce the outstanding book value of
         the Kinam Preferred Shares, the Company completed an equity offering in
         February, 2002, and issued 23,000,000 common shares from treasury for
         gross proceeds before costs of the issue of $19.5 million. The majority
         of funds raised will be used to complete a $16.00 per share cash tender
         offer for the Kinam Preferred Shares owned by non-affiliated
         shareholders. On March 28, 2002, 652,992 Kinam Preferred Shares were
         tendered under the cash tender offer and after extending the offer an
         additional 17,730 Kinam Preferred Shares were tendered on April 4,
         2002, leaving 223,878 or 12.2% of the issued and outstanding Kinam
         Preferred Shares held by non-affiliated shareholders. The Company has
         commenced de-registration of the Kinam Preferred Shares and once
         completed, the Company anticipates completing a merger between Kinam
         and a newly created wholly owned subsidiary of the Company in which the
         remaining non-affiliated shareholders will receive $16.00 cash for each
         of their Kinam Preferred Shares. On March 28, 2002, the 652,992 Kinam
         Preferred Shares tendered had a book value of $35.6 million and were
         purchased by the Company for $10.4 million ($11.1 million including
         costs of the tender offer). The $24.5 million difference in value
         associated with this transaction was applied against the carrying value
         of certain property, plant and equipment.

5.       SEGMENTED INFORMATION

         The Company operates five gold mines: Hoyle Pond, located in Ontario,
         Canada; Kubaka (54.7% ownership), located in Russia; Fort Knox, located
         in Alaska, United States; Blanket, located in Zimbabwe; and Refugio
         (50.0% ownership), located in Chile. In addition to its producing gold
         mines, the Company has an 85.9% interest in E-Crete, a producer of
         aerated concrete, several other gold mining assets in various stages of
         reclamation, closure, care and maintenance and development, and two
         corporate offices in Canada and the United States. As the products and
         services in each of the reportable segments, except for the corporate
         activities, are essentially the same, reportable segments have been
         determined at the level where decisions are made on the allocation of
         resources and capital, and where complete internal financial statements
         are available.



<TABLE>
<CAPTION>
                                                        REPORTABLE OPERATING SEGMENTS
                                            ---------------------------------------------------------  CORPORATE
                                             HOYLE     KUBAKA   FORT KNOX  BLANKET   REFUGIO  E-CRETE  AND OTHER     TOTAL
                                            -------   --------  ---------  -------   -------  -------  ---------    -------
AS AT MARCH 31, 2002 AND FOR THE THREE MONTHS
ENDED MARCH 31, 2002:
                                                                                                         (b)
<S>                                         <C>       <C>       <C>        <C>       <C>      <C>      <C>          <C>
Mining revenue                              $  17.5   $   15.2   $  33.0    $  --    $   2.2  $   --    $   0.9     $ 68.8
Interest revenue                                 --         --        --       --         --      --        0.4        0.4
Interest expense                                 --        0.1       0.6       --         --     0.1        0.7        1.5
Depreciation, depletion and amortization        4.7        4.7      12.4       --         --     0.4       (0.4)      21.8
Segment profit (loss)                           3.3        3.5      (7.9)      --        1.0    (1.2)      (5.0)      (6.3)

Segment assets                                 85.4       66.2     309.1       --        7.5     8.3       64.5(a)   541.0

Capital expenditures                            1.7        0.1       1.0       --         --     0.2        0.1        3.1
</TABLE>


<TABLE>
<CAPTION>
AS AT MARCH 31, 2001 AND FOR THE THREE
MONTHS ENDED MARCH 31, 2001:                                                                             (b)

<S>                                         <C>       <C>       <C>        <C>       <C>      <C>      <C>          <C>
Mining revenue                              $   9.5   $   14.2  $   26.2   $   2.6   $   6.7  $   --     $  4.9      $ 64.1

Interest revenue                                 --        0.4        --       0.2        --     0.1        0.8         1.5

Interest expense                                 --        0.4       1.2    --           0.1     0.1        0.8         2.6

Depreciation, depletion and amortization        3.5        5.5       8.2       0.6        --     0.1        1.5        19.4

Segment profit (loss)                          (2.0)       0.9      (2.1)     (0.2)      1.2    (0.7)       2.4        (0.5)
Segment assets                                 92.9      120.1     344.9      12.2      11.4     7.8       93.8(a)    683.1
Capital expenditures                            3.0        0.2       7.9       0.1        --      --        0.3        11.5
</TABLE>


(a)  includes $75.8 million (2001 - $48.5 million) in cash and cash equivalents
     held at the Corporate level

(b)  includes Corporate and other non core mining operations

RECONCILIATION OF REPORTABLE OPERATING SEGMENT (LOSS) PROFIT TO NET LOSS FOR THE
PERIOD:

<TABLE>
<CAPTION>
                                                               FIRST QUARTER
                                                              ----------------
                                                               2002      2001
                                                              ------    ------
<S>                                                           <C>       <C>
Segment loss                                                  $ (1.3)   $ (2.9)
Add (deduct) items not included in segment (loss) profit:
  Corporate and other                                           (5.0)      2.4
                                                              ------    ------

                                                                (6.3)     (0.5)
Gain on sale of marketable securities                            0.3        --
Share in income (loss) of investee companies                     0.3      (0.4)
Provision for income taxes                                      (1.4)     (1.0)
Dividends on convertible preferred shares of subsidiary
  company                                                       (0.8)     (1.7)
                                                              ------    ------
Net loss for the period                                       $ (7.9)   $ (3.5)
                                                              ======    ======
</TABLE>

ENTERPRISE - WIDE DISCLOSURE:
Geographic information:
<TABLE>
<CAPTION>

                                                    MINERAL PROPERTIES,
                          MINING REVENUE            PLANT AND EQUIPMENT
                      ---------------------       -----------------------
                          FIRST QUARTER                AS AT MARCH 31
                      ---------------------       -----------------------
                       2002          2001           2000           2001
                      -------       -------       --------       --------
<S>                   <C>           <C>           <C>            <C>
United States         $  33.3       $  30.0       $  255.9       $  337.7
Russia                   15.2          14.2           26.2           47.9
Chile                     2.2           7.1         --             --
Other                  --               2.5            5.1           15.1
                      -------       -------       --------       --------
Total foreign            50.7          53.8          287.2          400.7
Canada                   18.1          10.3           86.9           92.1
                      -------       -------       --------       --------
Total                 $  68.8       $  64.1       $  374.1       $  492.8
                      =====         =====         ======         ======
</TABLE>


6.       STOCK OPTIONS

         Effective January 1, 2002, the Company has adopted the recommendations
         of the CICA for stock-based compensation and other stock-based
         payments. This recommendation establishes standards for the
         recognition, measurement and disclosure of stock-based compensation and
         other stock-based payments made in exchange for good and services. The
         standard requires that all stock-based awards made to non-employees be
         measured and recognized using a fair value based method. The standard
         encourages the use of a fair value based method for all awards granted
         to employees, but only requires the use of a fair value based method
         for direct awards of stock, stock appreciation rights, and awards that
         call for settlement in cash or other assets. Awards that the Company
         has the ability to settle in stock are recorded as equity, whereas
         awards that the Company is required to or has a practice of settling in
         cash are recorded as liabilities.

         The Company's stock option plan is described in note 14 of the
         consolidated financial statements for the year ended December 31, 2001.
         The Company has elected not to use the fair value method of accounting
         for stock options. As a result, it does not recognize compensation
         expense nor the fair value of the options issued to its employees. No
         stock-based awards are made available to non-employees.

         Had compensation expense for the stock-based compensation plans been
         determined based upon the fair value method of accounting for awards
         granted on or after January 1, 2002, the pro forma net loss attributed
         to common shares would have amounted to $10.1 million and pro forma EPS
         would have remained at loss of $0.03 for the three month period ended
         March 31, 2002. The fair value of the options granted during the three
         month period ended March 31, 2002 is estimated to be $0.1 million. The
         fair value of each option grant is estimated on the date of grant using
         the Black-Scholes option pricing model with the following weighted
         average assumptions used for grants in the period ended March 31, 2002:
         dividend yield of 0%, expected volatility of 63%; risk-free interest
         rate of 4.7%; and expected lives of 5 years. The Company has not
         included those options outstanding on the date of adoption of this new
         recommendation in the calculation if its pro forma earnings per share
         for the period.

7.       (LOSS) EARNINGS PER SHARE

         (Loss) earnings per share ("EPS") has been calculated using the
         weighted average number of shares outstanding during the period.
         Diluted EPS is calculated using the treasury stock method. The
         calculation of diluted earnings per share assumes that employee stock
         options were exercised at the beginning of the period, or time of
         issue, if later. Employee stock options with an exercise price greater
         than the average market price of the common shares were not included in
         the calculation of diluted earnings per share as the effect is
         anti-dilutive. The average price of the common shares during the period
         was $1.01 (2001 - $0.52).

<TABLE>
<CAPTION>
                                                          2002          2001
                                                         -------       -------
<S>                                                      <C>           <C>
         Weighted average number of common shares
           outstanding at March 31st                     337,699       300,931

         Add:  Options, warrants and participating
          securities as if issued, exercised and
          outstanding at January 1st
             Options                                       3,438          --
             Restricted shares                                39          --
             Convertible debentures (a)                   14,651        14,651
             Redeemable retractable preferred
                shares (b)                                 3,175         3,175
             Convertible preferred shares of
               subsidiary company (c)                      1,172         8,926
                                                         -------       -------
         Weighted average number of common shares
           used for diluted earnings per share           360,174       327,683
                                                         =======       =======
</TABLE>

         (a)  Convertible debentures - $122.9 million (Cdn. $195.6 million)
              principal issued and outstanding

         (b)  Redeemable retractable preferred shares - 384,613 shares issued
              and outstanding

         (c)  Convertible preferred shares of subsidiary company - 241,608
              shares issued and outstanding to non affiliated shareholders as at
              March 31, 2001.

8.       CONTINGENCIES

         The Company conducts business in Russia through its subsidiary, Omolon
         Gold Mining Company ("Omolon") which is owned 45.3 % by Russian
         shareholders. One of the Russian shareholders has asserted that the
         original issuance of shares was flawed due to a failure to follow
         certain registration procedures. As a result, the shareholder claims
         the share issuance is null and void. The shareholder is claiming
         approximately $43.0 million to cover its original investment plus
         compounded interest. The Company has been advised by its counsel that
         Omolon has good defences available to it and is confident that Omolon
         will successfully defend the lawsuit. However, the interpretation and
         application of the laws of the Russian Federation may be subject to
         policy changes reflecting domestic political changes or other
         considerations. Moreover, because of the developing nature of the
         Russian legal system and the fact that the interpretation and
         application of many laws are untested, it is difficult to predict with
         certainty how they may be interpreted and applied in a particularly
         case. As a consequence, other or additional penalties or remedies may
         be imposed. These remedies may, in addition to imposing financial
         obligations, otherwise adversely affect the operations or status of
         Omolon including a possible order that none of the issued shares of
         Omolon are valid.

         The Company has been named as a defendant in a class action complaint
         filed on or about April 26, 2002, entitled Robert A. Brown, et al.v.
         Kinross Gold U.S.A., Inc., et al., Case No. CV-S-02-0605-KJD-RJJ,
         brought in the United States District Court for the District of Nevada.
         The complaint names as defendants the Company, its subsidiary, Kinross
         Gold U.S.A., Inc., its subsidiary Kinam Gold Inc., and Robert M.
         Buchan. The complaint is based on claims arising out of the purchase of
         the Kinam Preferred Shares by the Company. The complaint seeks damages
         in cash or by the issuance of common shares of the Company. The Company
         believes this claim is without merit and plans to vigorously defend the
         litigation.

9.       2001 FIGURES

         Certain of the 2001 figures have been reclassified to conform to the
         2002 presentation.

10.      SUBSEQUENT EVENT

         On April 11, 2002, the Company signed a letter of agreement with a
         wholly owned subsidiary of Placer Dome Inc. ("Placer") to form a joint
         venture that will combine the two companies' respective gold mining
         operations in the Porcupine district in Ontario, Canada. Placer will
         own a 51% interest and the Company will own a 49% interest in the
         Porcupine Area Joint Venture, which will be operated by a Placer
         affiliate. Placer will contribute the Dome mine and mill and the
         Company will contribute the Hoyle Pond, Pamour and Nighthawk Lake mines
         as well as the Bell Creek mill. Future capital and operating costs will
         be shared in proportion to each party's ownership interest. Management
         is currently assessing the potential financial impact of this Joint
         Venture on the carrying value of the assets contributed to the Joint
         Venture by the Company.



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>14
<FILENAME>kin6kex99l.txt
<DESCRIPTION>EXHIBIT 99L
<TEXT>


                                                                     EXHIBIT 99l


                            KINROSS GOLD CORPORATION
                             MATERIAL CHANGE REPORT




Item 1.   Reporting Issuer

The  reporting  issuer  filing  this  material  change  report is  Kinross  Gold
Corporation ("Kinross").

Item 2.   Dates of Material Changes

May 2, 2002

Item 3.   Press Releases

Press  release  was issued by Kinross in Toronto on May 2, 2002 with  respect to
the material changes and filed via SEDAR.

Item 4.   Summary of Material Change

On May 2, 2002 Kinross Gold Corporation  announced its intention to deliver into
its relatively  small gold forward sales and not replace these hedges due to the
improving environment for the gold sector and for Kinross in particular.

Item 5.   Full Description of Material Change

Kinross Gold  Corporation  announces  the intent to deliver into its  relatively
small gold  forward  sales and not  replace  these  hedges due to the  improving
environment for the gold sector and for Kinross in particular.  Although Kinross
has  never  maintained  a very  large  gold  hedge  position,  the  Company  has
periodically   adjusted   its  gold  hedges   depending   on   specific   market
circumstances.  During the difficult times for gold prices over much of the last
five years,  it was prudent for the Company to have at least a modest gold hedge
position due to the magnitude of financial leverage inherent in the Consolidated
Balance Sheet of Kinross. The Company entered into gold forward sales contracts,
spot deferred  forward sales contracts and written call options for some portion
of  expected   future   production   to  mitigate  the  risk  of  adverse  price
fluctuations.  The  Company  does  not  hold  these  financial  instruments  for
speculative  or  trading  purposes.   The  Company  is  not  subject  to  margin
requirements on any of its hedging lines.

The  outstanding  number  of  ounces,   average  expected  realized  prices  and
maturities for the gold commodity derivative contracts as at April 30, 2002 were
as follows:

<TABLE>
<CAPTION>

                    Ounces                                  Call Options            Average
                    Hedged               Average                Sold                Strike
    Year            000 oz                Price                000 oz                Price
<S>                 <C>                  <C>                <C>                     <C>
- -----------------------------------------------------------------------------------------------

    2002             225                  $289                    50                 $340
    2003             138                   277                   100                  320
    2004             138                   277                    50                  340
    2005              38                   296                     -                    -
           ----------------------                      ----------------------
    Total            539                                        200
           ======================                      ======================
</TABLE>


Robert M. Buchan,  Chairman & CEO stated that "In a word,  Kinross'  approach to
gold hedging could be described as  opportunistic.  Our modest  exposure to gold
forward contracts has served Kinross well over the past several years,  allowing
the company to  consistently  realize  higher gold  prices than  available  spot
prices  and  generate  significant  cash  flow that has  generally  been used to
increase cash balances or reduce debt.  Our




<PAGE>


                                        2


small  position in call options sold, is a residual from a strategy  employed to
partially  finance the  acquisition of a portion of our massive land position in
Timmins in the fall of 1999,  when the gold price  became  very  volatile  after
establishing  a 20-year low in August of 1999.  We are now in a new  environment
requiring  a fresh look at our  approach to gold  hedging and we have  concluded
that delivering into our modest gold book is appropriate."

Item 6.   Reliance  on  Section  75(3)  of  the  Securities  Act  (Ontario)  and
          analogous  securities  legislation  of each of the other  provinces of
          Canada.

N/A

Item 7.   Omitted Information

N/A

Item 8.   Senior Officer

         Ms. Shelley M. Riley
         Corporate Secretary
         Telephone: (416) 365-5198
         Facsimile: (416) 365-0237

Item 9.  Statement of Senior Officer

          The foregoing  accurately  discloses the material  change  referred to
          herein.

          DATED at Toronto this 3rd day of May, 2002.

                                             KINROSS GOLD CORPORATION


                                             PER:   Shelley M. Riley/
                                                    -----------------
                                                    Shelley M. Riley
                                                    Corporate Secretary



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>15
<FILENAME>kin6kex99m.txt
<DESCRIPTION>EXHIBIT 99M
<TEXT>


                                                                     EXHIBIT 99m


                            KINROSS GOLD CORPORATION
                             MATERIAL CHANGE REPORT




Item 1.   Reporting Issuer

The  reporting  issuer  filing  this  material  change  report is  Kinross  Gold
Corporation ("Kinross").

Item 2.   Dates of Material Changes

May 16, 2002

Item 3.   Press Releases

Press  release was issued by Kinross in Toronto on May 16, 2002 with  respect to
the material changes and filed via SEDAR.

Item 4.   Summary of Material Change

On May 16, 2002 Kinross Gold Corporation along with Bema gold Corporation,  each
50% owners of Compania Minera Maricunga,  announced that binding arbitration has
ruled in  favour  of CMM on claims  against  Fluor  Danile  Chile  Ingenieria  y
Construccion  S.A.,  Fluor Daniel  Corporation  and Fluor Daniel Wright Ltd. For
damages  relating  to the  original  construction  of the  Refugio  gold mine in
northern Chile.

Item 5.   Full Description of Material Change

Kinross Gold Corporation (TSX-K;  Amex-KGC) and Bema Gold Corporation  (TSX-BGO;
Amex-BGO),  each 50% owners of Compania Minera Maricunga ("CMM"), are pleased to
announce that binding  arbitration  has ruled in favour of CMM on claims against
Fluor Daniel Chile Ingenieria y Construccion S.A., Fluor Daniel Corporation, and
Fluor  Daniel  Wright  Ltd.  ("Fluor")  for  damages  relating  to the  original
construction  of the Refugio gold mine in northern  Chile.  The  arbitrator  has
concluded  that  Fluor  was  "grossly  negligent"  in  certain  aspects  of  the
construction of the Refugio  facilities and has determined a net award in favour
of CMM for US$20 million plus interest  accumulated  from July 1999. In April of
1999 CMM initiated  formal  arbitration  proceedings,  against Fluor, to recover
costs related to numerous design and construction failures.

Item 6.   Reliance  on  Section  75(3)  of  the  Securities  Act  (Ontario)  and
analogous securities legislation of each of the other provinces of Canada.

N/A

Item 7.   Omitted Information

N/A

Item 8.   Senior Officer

         Ms. Shelley M. Riley
         Corporate Secretary
         Telephone: (416) 365-5198
         Facsimile: (416) 365-0237

Item 9.   Statement of Senior Officer

          The foregoing  accurately  discloses the material  change  referred to
          herein.




<PAGE>


                                        2


          DATED at Toronto this 17th day of May, 2002.

                                             KINROSS GOLD CORPORATION


                                             PER:   Shelley M. Riley/
                                                    -----------------
                                                    Shelley M. Riley
                                                    Corporate Secretary



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>16
<FILENAME>kin6kex99n.txt
<DESCRIPTION>EXHIBIT 99N
<TEXT>


                                                                     EXHIBIT 99n

                            KINROSS GOLD CORPORATION
                             MATERIAL CHANGE REPORT


Item 1.   Reporting Issuer

The  reporting  issuer  filing  this  material  change  report is  Kinross  Gold
Corporation ("Kinross").

Item 2.   Dates of Material Change

July 2, 2002.

Item 3.   Press Releases

Press  release was issued by Kinross in Toronto on July 2, 2002 with  respect to
the material change and filed via SEDAR.

Item 4.   Summary of Material Change

Kinross  Gold  Corporation  and Placer  Dome  Inc.,  through  its  wholly  owned
subsidiary,  Placer  Dome  (CLA)  Limited,  announced  the  finalization  of the
Porcupine Joint Venture announced on April 11, 2002.

Item 5.   Full Description of Material Change

Kinross  Gold  Corporation  (TSE-K;  Amex-KGC)  and Placer  Dome Inc.  (TSE-PDG;
NYSE-PDG),  through its wholly owned subsidiary,  Placer Dome (CLA) Limited, are
pleased to announce the finalization of the Porcupine Joint Venture announced on
April 11, 2002.  Effective July 1, 2002 our respective  mining operations in the
Porcupine  camp in Timmins,  Ontario  began  operating  as the  Porcupine  Joint
Venture.  Placer owns a 51% interest and is  operator,  while  Kinross has a 49%
interest in the joint venture,  which now  incorporates  the Dome mine and mill,
the Hoyle Pond,  Pamour and Nighthawk Lake mines as well as the Bell Creek mill.
According to Placer Dome President and CEO Jay Taylor: "It is a testament to the
depth of expertise of our two companies that we can make such a smooth operating
transition  at a time when each  partner is involved in other  transactions.  We
look forward to moving  immediately to capture the significant  synergies we see
available  to the joint  venture."  Bob  Buchan,  Chairman  and CEO of  Kinross,
stated:  "The  formation of this joint  venture  represents  the beginning of an
important  new chapter in the 92 year history of the  Porcupine  gold camp,  the
largest historic gold producing district in North America.  It establishes a new
foundation with a vision of significant gold production for many years to come."

Item 6.   Reliance  on  Section  75(3)  of  the  Securities  Act  (Ontario)  and
analogous securities legislation of each of the other provinces of Canada.

N/A

Item 7.   Omitted Information

N/A

Item 8.   Senior Officer

         Ms. Shelley M. Riley




<PAGE>


                                        2


         Corporate Secretary
         Telephone: (416) 365-5198
         Facsimile: (416) 365-0237

Item 9.   Statement of Senior Officer

The foregoing accurately discloses the material change referred to herein.

DATED at Toronto this 2nd day of July, 2002.


                                             KINROSS GOLD CORPORATION


                                             PER:   Shelley M. Riley/
                                                    -----------------
                                                    Shelley M. Riley
                                                    Corporate Secretary



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
