<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tex99_1-2983a.txt
<DESCRIPTION>EX-99.1
<TEXT>
<PAGE>







                                                        KINROSS GOLD CORPORATION


                                                    INDEPENDENT TECHNICAL REPORT
                                                 ON THE PORCUPINE JOINT VENTURE,
                                                                 ONTARIO, CANADA
--------------------------------------------------------------------------------


                                                              [PICTURE]


                                                                       [PICTURE]


                                                              [PICTURE]




                                                                   PREPARED BY:

                                                           [LOGO] SRK CONSULTING
                                                        Engineers and Scientists

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                              Page i
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                         TABLE OF CONTENTS

SUMMARY........................................................................................vi
        i.     Introduction....................................................................vi
        ii     Description of the Mining Assets ...............................................vi
        iii.   Mineral Resources & Mineral Reserves ...........................................xi
        iv.    Economic Analysis ............................................................xiii
        v.     Material Issues & Opportunities................................................xiv

1.0     INTRODUCTION & TERMS OF REFERENCE.......................................................1
        1.1    Scope of Work....................................................................1
        1.2    Basis of the Technical Report ...................................................1
        1.3    Limitations & Reliance on Information ...........................................2
        1.4    Disclaimers & Cautionary Statements for US Investors.............................3
        1.5    Exchange Rates ..................................................................4
        1.6    Mineral Resource/Mineral Reserve Statements & LoM Plans .........................4
        1.7    Price Strategy ..................................................................4
        1.8    Qualifications of Consultant.....................................................5

2.0     INFORMATION ON PJV .....................................................................7
        2.1    History & Development ...........................................................7
               2.1.1  The Asset Exchange Agreement .............................................7
               2.1.2  The Porcupine Joint Venture Agreement.....................................8
        2.2    Business Overview................................................................9
        2.3    Organizational Structure.........................................................9
        2.4    Metal Production................................................................11
        2.5    Property Descriptions...........................................................11
               2.5.1  Pamour Property..........................................................12
                      2.5.1.1  Location & Accessibility .......................................12
                      2.5.1.2  Description.....................................................12
                      2.5.1.3  History ........................................................16
               2.5.2  Hoyle Pond Mine .........................................................18
                      2.5.2.1  Location & Access...............................................18
                      2.5.2.2  Description.....................................................18
                      2.5.2.3  History ........................................................24
               2.5.3  Dome Mine................................................................25
                      2.5.3.1  Location & Accessibility .......................................25
                      2.5.3.2  Description.....................................................26
                      2.5.3.3  History ........................................................29

3.0     GEOLOGY ...............................................................................31
        3.1    Introduction ...................................................................31
               3.1.1  Regional Geology of the Porcupine Gold Camp - Timmins District...........31
        3.2    Pamour Mine ....................................................................34
               3.2.1 Lithology ................................................................34
</TABLE>

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page ii
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
<S>                                                                           <C>

               3.2.2  Alteration...............................................................35
               3.2.3  Structure ...............................................................36
               3.2.4  Mineralization ..........................................................37
        3.3    Hoyle Pond Mine ................................................................38
               3.3.1  Structure and Alteration ................................................38
               3.3.2  Mineralization ..........................................................39
        3.4    Dome Mine.......................................................................39
               3.4.1  Structure ...............................................................40
               3.4.2  Alteration...............................................................40
               3.4.3  Mineralization ..........................................................40

4.0     MINERAL RESOURCES & MINERAL RESERVES...................................................42

        4.1    Introduction....................................................................42
        4.2    Pamour Mine ....................................................................42
               4.2.1  Introduction ............................................................42
               4.2.2  Data ....................................................................42
               4.2.3  Continuity of Mineralization.............................................45
               4.2.4  Compositing & Geostatistical Analysis....................................46
               4.2.5  Mineral Resource Estimation..............................................47
               4.2.6  Conversion of Mineral Resources to Mineral Reserves......................49
                      4.2.6.1  Mining Method ..................................................49
               4.2.7  Mine Plan................................................................49
               4.2.8  Mineral Resource & Mineral Reserve  Classification.......................50
               4.2.9  Mineral Resource & Mineral Reserve Statement.............................50
        4.3    Hoyle Pond Mine ................................................................51
               4.3.1  Introduction ............................................................51
               4.3.2  Data ....................................................................51
               4.3.3  Mineral Resource Estimation..............................................53
               4.3.4  Conversion of Mineral Resources to Mineral Reserves......................54
                      4.3.4.1  Mining Method ..................................................55
                      4.3.4.2  Reconciliation .................................................55
               4.3.5  Mine Plan ...............................................................57
               4.3.6  Mineral Resource and Mineral Reserve Classification......................57
               4.3.7  Mineral Resource and Mineral Reserve Statement...........................57
               4.3.8  Mineral Reserve Historic and Reconciliation .............................58
        4.4    Dome Mine.......................................................................60
               4.4.1  Introduction ............................................................60
               4.4.2  Data ....................................................................60
               4.4.3  Mineral Resource Estimation..............................................61
                      4.4.3.1  Underground Operation ..........................................61
                      4.4.3.2  Open Pit Operation .............................................63
               4.4.4  Conversion of Mineral Resources to Mineral Reserves......................64
                      4.4.4.1  Underground Operation...........................................64
                      4.4.4.2  Open Pit Operation..............................................65
                      4.4.4.3  Cutoff Grade ...................................................65
</TABLE>

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                            Page iii
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
<S>                                                                           <C>

                      4.4.4.4  Reconciliation and Grade Control................................65
               4.4.5  Mining Method............................................................67
               4.4.6  Mineral Resource and Mineral Reserve Classification......................67
               4.4.7  Mineral Resource and Mineral Reserve Statement...........................68
                      4.4.7.1  Mineral Reserves Comparison Dec. 2002 vs. 2001..................69
        4.5    Owl Creek ......................................................................69
        4.6    Consolidated Mineral Resources and Mineral Reserves.............................70

5.0     MINING.................................................................................72

        5.1    Pamour Mine.....................................................................72
        5.2    Hoyle Pond Mine.................................................................76
        5.3    Dome Mine.......................................................................80

6.0     METALLURGICAL PROCESSING ..............................................................83

        6.1    Pamour Mill.....................................................................83
        6.2    Bell Creek Mill.................................................................86
        6.3    Dome Mill ......................................................................88

7.0     MANPOWER ..............................................................................90

8.0     ENVIRONMENTAL MANAGEMENT & PERMITTING..................................................91
        8.1    Hoyle Pond, Pamour, & Bell Creek................................................91
        8.2    Dome Mine.......................................................................91
        8.3    Porcupine Joint Venture.........................................................92

9.0     ECONOMIC ANALYSIS .....................................................................95
        9.1    Introduction....................................................................95
        9.2    Validation of PJV Model Inputs..................................................95
               9.2.1  Economic Parameters......................................................95
               9.2.2  Technical Model Inputs...................................................96
               9.2.3  Operating Costs..........................................................96
               9.2.4  Capital Costs ...........................................................96
        9.3    PJV Model Results...............................................................97

10.0    CONCLUDING REMARKS.....................................................................98

11.0    REFERENCES ............................................................................99
        11.1   Corporate.......................................................................99
        11.2   Geology ........................................................................99
        11.3   Mining and Process  ...........................................................100
        11.4   Environmental .................................................................100

12.0    Glossary..............................................................................102
</TABLE>

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page iv
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                          TABLES

Table 1: Mineral Resources & Mineral Reserves, Pamour Project, Dec. 31, 2002.........vii
Table 2: Mineral Resources & Mineral Reserves, Hoyle Pond Mine, Dec. 31, 2002.......viii
Table 3: Mineral Resources, Owl Creek December 31, 2002 ..............................ix
Table 4: Mineral Resources & Mineral Reserves, Dome Mine, Dec. 31, 2002 ...............x
Table 5: Consolidated Mineral Resources for the PJV (exclusive of reserves) .........xii
Table 6: Consolidated Mineral Reserves for the PJV...................................xii
Table 7: PJV Model Parameters ......................................................xiii
Table 1.6.1: Effective Date of Mineral Resources & Mineral Reserve Statements .........4
Table 2.4.1: Gold Production Statistics ..............................................11
Table 2.5.1: Historical Production, Pamour Mine.......................................17
Table 2.5.2: Historical Production, Hoyle Pond Mine ..................................25
Table 4.2.1: Historic Drilling at Pamour .............................................43
Table 4.2.2: Composite Trimming.......................................................46
Table 4.2.3: Variogram Model Parameters...............................................48
Table 4.2.4: Search Ellipsoid Parameters .............................................48
Table 4.2.5: Mineral Resources & Mineral Reserves, Pamour Project, Dec. 31, 2002......51
Table 4.3.1: Mineral Resource Estimation Parameters...................................54
Table 4.3.2: Mineral Reserves Estimation Parameters...................................55
Table 4.3.3: Mine Production vs. Ore Milled Comparison (100% share base)..............56
Table 4.3.4: Mineral Reserves Vs. Milling comparison. (100% share base) ..............56
Table 4.3.5: Mineral Resources & Mineral Reserves, Hoyle Pond Mine, Dec. 31, 2002.....58
Table 4.3.6: Mineral Reserves Comparison 2002 Vs 2001 ................................59
Table 4.4.1: Mineral Resource & Reserve Estimation Parameters.........................63
Table 4.4.2: Mineral Reserves, Production & Mill Results Comparison Underground.......65
Table 4.4.3: Mineral Reserves & Production Comparison - Dome Open Pit.................66
Table 4.4.4: Mill Feed Estimate & Mill Results Comparison ............................66
Table 4.4.5: Mineral Resources & Mineral Reserves, Dome Mine, Dec. 31, 2002 ..........68
Table 4.4.6: Mineral Reserves Comparison 2002 vs. 2001................................69
Table 4.5.1: Mineral Resources, Owl Creek December 31, 2002 ..........................70
Table 4.6.1: Consolidated Mineral Resources for the PJV (exclusive of Reserves) ......70
Table 4.6.2: Consolidated Mineral Reserves for the PJV................................71
Table 5.1.1: Pamour Proven and Probable Reserves in the LoM Plan......................73
Table 5.1.2: Pamour Resources and Reserves at Various Au Prices.......................73
Table 5.1.3: Pamour Production Schedule...............................................75

</TABLE>

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                              Page v
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
<S>                                                                           <C>

Table 6.1.1: Status of PJV Milling Facilities.........................................83
Table 9.2.1: PJV Model Parameters.....................................................96


                                        FIGURES

Figure 2.1: Timmins General Property Position ........................................10
Figure 2.2: Site Plan, Pamour Project ................................................14
Figure 2.3: Site Plan, Hoyle Pond Mine ...............................................20
Figure 2.4: Site Plan, Dome Mine .....................................................28
Figure 3.1: Regional Geology of the Porcupine Gold Camp ..............................33
Figure 3.2: N-S cross section looking West through the Porcupine Gold Camp at Pamour..34
Figure 4.1: Pamour Drillhole Location Map ............................................43
Figure 4.2: Historic Production and Mineral Reserves .................................59
Figure 5.1: Pamour Open Pit Design ...................................................74
Figure 5.2: Hoyle Pond Surface Plan & Longitudinal Section ...........................77
Figure 5.3: Dome Underground Long Section ............................................81
Figure 6.1: Pamour Mill Flowsheet ....................................................85
Figure 6.2: Bell Creek Mill Flowsheet ................................................87
Figure 6.3: Dome Mill Flowsheet ......................................................89


                                      APPENDICES

Appendix 1: Claim Information
Appendix 2: Certificate and Consent Letters





</TABLE>

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page vi
--------------------------------------------------------------------------------

SUMMARY

I.      INTRODUCTION

        Steffen, Robertson and Kirsten Consulting (Canada) Inc. ("SRK") has been
        retained by Kinross Gold Corporation ("Kinross") to complete an
        independent technical report in compliance with National Instrument
        43-101 on the Pamour Project, the Hoyle Pond Mine and the Dome Mine, all
        located within the city limits of Timmins, Ontario. These properties
        fall within the Porcupine Joint Venture ("PJV"), an unincorporated joint
        venture formed with Placer Dome (CLA) Limited, a wholly owned subsidiary
        of Placer Dome Inc. ("Placer"), as of July 1, 2002. The PJV combines the
        Kinross and Placer gold mining operations in the Porcupine District in
        Timmins, Ontario, Canada. Placer is manager of all assets of the PJV.

        The scope of work undertaken by SRK involved an assessment of PJV's
        operations, taking into consideration geology, mineral resources,
        mineral reserves, mining plans, processing, tailings, environmental
        aspects and an economic analysis of the assets.

II.     DESCRIPTION OF THE MINING ASSETS

        PAMOUR PROJECT

        On December 24, 1999, Kinross acquired the Timmins assets of Royal Oak
        Mines Inc, which included the Pamour Project. The Pamour Property is
        located north of Highway 101, within the City of Timmins, Township of
        Whitney and District of Cochrane, Ontario, Canada. The site is
        approximately 19km east of the downtown core of Timmins and 43km west of
        Highway 11. The Pamour Property is contiguous to the south with the
        Hoyle Pond Mine property. A feasibility study is currently underway to
        bring this open pit project into production. Future plans call for the
        existing process facilities to be demolished, and ore to be transported
        by truck to the Dome Mill for processing.

        There are three distinctive, but genetically and spatially related
        mineralization styles at Pamour; Type I: Metavolcanic-Hosted Fault-Vein
        (Narrow Vein), Type II: Extension-Vein (Bulk), and Type III:
        Metasediment-Hosted Fault-Vein (TN Veins).

        Type I mineralization occurs in mafic volcanic rock at depth from the
        north, and rolls over at the Pamour Unconformity breaking up into Type
        II bulk mineralization, then

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                            Page vii
--------------------------------------------------------------------------------

        dipping steeply to the south as Type III TN narrow vein mineralization.
        The steeply south-dipping Type III TN narrow veins also propagate at
        depth and roll over in brittle greywacke beds and conglomerate near the
        Pamour Unconformity. Type I Narrow Vein mineralization occurs over 600m
        in strike and/or dip length. In Type II mineralization, ore shoots are
        typically 30m to 60m high, 30m to 45m wide, and up to 1,200m in length
        along their plunge. In typical Type III mineralization, the vein zones
        are 0.3m to 4.5m wide, up to 45 m in strike, and 600m down dip.

        Table 1 represents a summary of the mineral resources and reserves at
        the Pamour Project.

<TABLE>
<CAPTION>

TABLE 1: MINERAL RESOURCES & MINERAL RESERVES, PAMOUR PROJECT, DEC. 31, 2002
======================================================================================================
                                 MEASURED                 INDICATED                   MEASURED &
                                                                                      INDICATED
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
<S>                    <C>     <C>     <C>       <C>      <C>     <C>       <C>      <C>     <C>
Pamour                   177   0.88      4,000    2,318   1.06     79,000    2,495   1.05     83,000
Kinross Share (49%)       87   0.88      2,000    1,136   1.06     39,000    1,223   1.05     41,000
======================================================================================================


======================================================================================================
                               PROVEN                    PROBABLE                TOTAL PROVEN &
                                                                                    PROBABLE
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
Pamour                 5,053   1.42    230,000   31,065   1.38  1,376,000   36,118   1.38  1,606,000
Kinross Share (49%)    2,476   1.42    113,000   15,222   1.38    674,000   17,698   1.38    787,000
======================================================================================================
Reserves stated at US$300/oz. Resources are based upon full technical-economic design at US$325/oz.
Resources are exclusive of reserves.
</TABLE>

        Mining will be by a conventional open pit method. Pit slopes will be
        dependent on rock type. Bench heights are planned to be 12m in waste
        while in ore they will be 6m to accommodate grade control. Ramps are
        planned to be 32m wide at a maximum 10% grade. Ore will be transported
        to the Dome Mill for processing.

        HOYLE POND

        On September 30, 1993, Kinross acquired Falconbridge Gold Corporation,
        giving Kinross control of the Hoyle Pond Mine. The Hoyle Pond complex is
        located in Northern Ontario, within the Timmins city limits. Access to
        the mine is via a 5 km all weather gravel road north of Highway 101. The
        Hoyle Pond Mine complex includes

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                           Page viii
--------------------------------------------------------------------------------

        the Hoyle Pond underground mine, and the Bell Creek underground mine and
        mill facility located on 889ha of patented land, 453ha of land leased
        from the Crown and one private lease covering 64.6ha. Services are
        generally acquired from vendors in the Timmins area. Ontario Hydro, a
        major public utility, provides power at the mine site.

        The gold deposits of the Hoyle Pond, Owl Creek and Bell Creek mines are
        located in the southwestern Abitibi Greenstone Belt of the Superior
        Province in the Canadian Shield. They occur 4.5km north of the Destor
        Porcupine Fault zone, which marks a regionally extensive and
        economically important structural break that extends from the Timmins
        area into northwestern Quebec. The Hoyle Pond main zone includes a
        series of generally northeast striking, linked quartz vein zones (at
        least 11 veins of economic significance), folded on a small scale with
        moderate west and northeast plunging axis. Also, a series of auriferous
        zones occurs along what is termed the south trend, stretching from the
        Bell Creek deposit in the west for 6.4km to the 1060 zone (including
        Blackhawk-Vogel deposit, Owl Creek West, Owl Creek, Owl Creek East and
        the 950 zone).

        Table 2 represents a summary of the mineral resources and reserves at
        Hoyle Pond.

<TABLE>
<CAPTION>

TABLE 2:          MINERAL RESOURCES & MINERAL RESERVES, HOYLE POND MINE, DEC. 31, 2002
======================================================================================================
                                 MEASURED                 INDICATED                   MEASURED &
                                                                                      INDICATED
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
<S>                    <C>     <C>     <C>       <C>      <C>     <C>       <C>      <C>     <C>
Hoyle Pond                43   8.68     12,000       78   6.78     17,000      121   7.45     29,000
Kinross Share (49%)       21   8.68      6,000       38   6.78      8,000       59   7.45     14,000
======================================================================================================


======================================================================================================
                               PROVEN                    PROBABLE                TOTAL PROVEN &
                                                                                    PROBABLE
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
Hoyle Pond (u/g)         328  12.99    137,000      560  12.44    224,000      888  12.64    361,000
Kinross Share (49%)      161  12.99     67,000      274  12.44    110,000      435  12.64    177,000
======================================================================================================
Reserves stated Resources are based upon full technical-economic design at US$325/oz. Resources are
at US$300/oz. exclusive of reserves.
</TABLE>

        The Hoyle Pond operations consist of an underground mine serviced by two
        decline ramps and one 4-compartment shaft. The underground operations
        are comprised of 17 main levels, with the shallowest at 40m below
        surface and the deepest at 720m below surface. Most production (ore and
        waste) is transported to the loading pocket by

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                           Page viii
--------------------------------------------------------------------------------

        means of an ore/waste pass system and hoisted to surface in 6.5t skips
        with <10% of the ore transported to surface via truck haulage. The
        surface infrastructure consists of administration buildings,
        maintenance, compressed air, paste fill plant, and hoisting facilities.

        Mined ore is transported using over-the-road trucks to the Dome Mill for
        processing.

        OWL CREEK

        The Owl Creek deposit lies some 2,000m west of the Hoyle Pond area and
        represents the western extension of the deposit at Hoyle Pond. The
        geologic characteristics of Owl Creek are the same as those described
        for the Hoyle Pond deposit.

        Kinross have not reported any Mineral Reserve from the Owl Creek Area,
        however, a relatively small portion of the deposit has been identified
        as amenable to open pit mining and demonstrated to be economic at
        US$325/oz Au. Kinross have included this material as Measured and
        Indicated Resources as summarized in Table 3.

<TABLE>
<CAPTION>

     TABLE 3: MINERAL RESOURCES, OWL CREEK DECEMBER 31, 2002

======================================================================================================
                                 MEASURED                 INDICATED                  MEASURED &
                                                                                     INDICATED
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
<S>                    <C>     <C>     <C>       <C>      <C>     <C>       <C>      <C>     <C>
Owl Creek                979   2.67     84,000    1,107   2.28     81,000    2,086   2.46    165,000
Kinross Share (49%)      480   2.67     41,000      542   2.28     40,000    1,022   2.46     81,000
======================================================================================================
     Resources are based upon full technical-economic design at US$325/oz.
</TABLE>

        DOME MINE

        Placer Dome (or its predecessor companies), has owned and operated the
        Dome mine and mill since mining began in 1910. The Dome mine is located
        within the city limits of Timmins, Ontario. Access to the property is by
        a paved road from the town of South Porcupine, 6km east of Timmins on
        Highway 101. Rail freight service is available from the
        Falconbridge-Kidd Creek metallurgical site 8km east of the mine.

        The Dome Mine lies on the south limb of the large scale Porcupine
        Syncline in an area where Archean metavolcanics are overlain by
        metasedimentary rocks. Several styles of mineralization are recognized
        in Dome Mine. Some styles are preferentially

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                              Page x
--------------------------------------------------------------------------------

        developed in particular rock types. There are 2 dominant (Types I and
        II) and 3 subordinate mineralization styles (Types III, IV and V). Gold
        occurs primarily as native metal in quartz or ankerite veins. Tellurides
        have been recognized, but constitute a very minor source of the total
        gold production. Silver is recovered as a by-product in a ratio of about
        one ounce of silver to six ounces of gold. Sulphides are present in all
        ore types, and average about two to three percent. Pyrite with lesser
        pyrrhotite is the dominant sulphides; chalcopyrite, sphalerite and
        galena are found locally.

        Table 4 represents a summary of the mineral resources and reserves at
        Dome.

<TABLE>
<CAPTION>

TABLE 4:  MINERAL RESOURCES & MINERAL RESERVES, DOME MINE, DEC. 31, 2002

======================================================================================================
                                 MEASURED                 INDICATED                  MEASURED &
                                                                                     INDICATED
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
<S>                    <C>     <C>     <C>       <C>      <C>     <C>       <C>      <C>     <C>
Dome                       0    0.0          0    9,235   1.72    510,000    9,235   1.72    510,000
Kinross Share (49%)        0    0.0          0    4,525   1.72    250,000    4,525   1.72    250,000
======================================================================================================


======================================================================================================
                               PROVEN                    PROBABLE                TOTAL PROVEN &
                                                                                    PROBABLE
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
Dome Total            10,935   1.03    361,000   10,936   2.00    702,000   21,871   1.51  1,063,000
Kinross Share (49%)    5,358   1.03    177,000    5,359   2.00    344,000   10,717   1.51    521,000
======================================================================================================

Reserves stated at Resources are based upon full technical-economic Resources are exclusive of US$300/oz.
design at US$325/oz. reserves.
</TABLE>

        The Dome Underground mine is in its final year of full production in
        2003 after 93 years of operation. The mine consists of 37 levels
        generally spaced at approximately 45m intervals extending over 1,500m in
        depth. The main production and service shaft is the No. 8 shaft which
        extends 1,668m in depth. Mining is predominantly by modified longhole
        methods that will provide 97% of the tonnes produced in 2003. The
        balance of production is comprised of cut and fill mining (1%) and
        development (2%).

        The Dome Open Pit is being mined in three stages. Development of the
        final stage commenced in the summer of 1998. The final pushback design
        will result in an ultimate pit depth of 366m that will require the
        relocation of the process conveyor along the north side of the pit.
        Mining is conducted using conventional open-pit

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page xi
--------------------------------------------------------------------------------

        mining methods. All mining is carried out on 9.1m benches. Pit wall
        inter-ramp angles vary from a minimum of 42(0) in porphyry (the
        foliation angle) to over 50(degree) in the greenstones, but average 52
        degrees. Pre-split blasting and the use of cable bolts in areas of
        previous underground mining intersected by the pit are used to increase
        slope stability. Haulage ramp gradients are set to 10%.

        MANPOWER

        Manpower requirements for the PJV will be sourced from the existing
        workforce where practical. Existing mill, accounting, warehouse, safety
        and technical personnel will be allocated to the Pamour Pit as
        production from the Dome pit decreases. Pit and maintenance workers will
        be drawn from existing labor pools in the pit and maintenance, and
        adjusted for production requirements as necessary. The February 2003
        workforce consists of 190 salaried and 506 hourly employees. From time
        to time, the PJV hires a wide range of contractors to perform a variety
        of tasks. At the time the site visit was conducted, approximately 100
        contractors were working for the PJV.

III.    MINERAL RESOURCES & MINERAL RESERVES

        Tables 5 and 6 presents the mineral resources and mineral reserves for
        each mine, reported by the PJV as of 31 December 2002 according to the
        "CIM Standards on Mineral Resources and Reserves: Definitions and
        Guidelines". Accordingly, the Resources have been classified as
        Measured, Indicated or Inferred and the Reserves have been classified as
        Proven and Probable based on the Measured and Indicated Resources.



--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                            Page xii
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>

    TABLE 5: CONSOLIDATED MINERAL RESOURCES FOR THE PJV (EXCLUSIVE OF RESERVES)

======================================================================================================
                                 MEASURED                 INDICATED           MEASURED & INDICATED
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
<S>                    <C>     <C>     <C>       <C>      <C>     <C>       <C>      <C>     <C>
Pamour                   177   0.88      4,000    2,318   1.06     79,000    2,495   1.05     83,000
Kinross Share (49%)       87   0.88      2,000    1,136   1.06     39,000    1,223   1.05     41,000

Hoyle Pond                43   8.68     12,000       78   6.78     17,000      121   7.45     29,000
Kinross Share (49%)       21   8.68      6,000       38   6.78      8,000       59   7.45     14,000

Dome                       0    0.0          0    9,235   1.72    510,000    9,235   1.72    510,000
Kinross Share (49%)        0    0.0          0    4,525   1.72    250,000    4,525   1.72    250,000

Owl Creek                979   2.67     84,000    1,107   2.28     81,000    2,086   2.46    165,000
Kinross Share (49%)      480   2.67     41,000      542   2.28     40,000    1,022   2.46    81,000

------------------------------------------------------------------------------------------------------
TOTAL                  1,199   2.62    100,000   12,738   1.68    687,000   13,937   1.76    788,000
KINROSS SHARE (49%)      588   2.62     49,000    6,242   1.68    337,000    6,829   1.76    386,000
======================================================================================================


    TABLE 6: CONSOLIDATED MINERAL RESERVES FOR THE PJV

======================================================================================================
                               PROVEN                    PROBABLE                TOTAL PROVEN &
                                                                                    PROBABLE
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
Pamour                 5,053   1.41    230,000   31,065   1.38  1,376,000   36,119   1.38  1,606,000
Kinross Share (49%)    2,476   1.41    113,000   15,222   1.38    674,000   17,698   1.38    787,000

Hoyle Pond               328  12.99    137,000      560  12.44    224,000      888  12.64    361,000
Kinross Share (49%)      161  12.99     67,000      274  12.44    110,000      435  12.64    177,000

Dome                  10,935   1.03    361,000   10,936   2.00    702,000   21,871   1.51  1,063,000
Kinross Share (49%)    5,358   1.03    177,000    5,359   2.00    344,000   10,717   1.51    521,000



------------------------------------------------------------------------------------------------------
TOTAL                 16,316   1.39    728,000   42,561   1.68  2,302,000   58,878   1.60  3,030,000
KINROSS SHARE (49%)    7,995   1.39    357,000   20,855   1.68  1,128,000   28,850   1.60  1,485,000
======================================================================================================

    Reserves stated at US$300/oz. Resources are based upon full technical-economic design at Resources
    are exclusive US$325/oz. of reserves.
</TABLE>


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                           Page xiii
--------------------------------------------------------------------------------

IV.     ECONOMIC ANALYSIS

        The PJV has developed an internal life-of-mine ("LoM") technical model
        (the PJV Model) for its operating mines (Hoyle Pond and Dome) and
        non-operating mine property (Pamour). The PJV model has been completed
        using a gold price of US$325/oz to reflect current and projected market
        conditions. The PJV Model details operations on an annual basis and
        mines out all of the currently delineated proven and probable reserves.

        SRK is of the opinion that these economic modeling parameters used by
        PJV are fair and reasonably reflect, and possibly provide a conservative
        view, of projected financial market trends.

   TABLE 7: PJV MODEL PARAMETERS

================================================================================
MODEL PARAMETER                                                    ASSUMED VALUE
--------------------------------------------------------------------------------
Gold Price                                                          US$325.00/oz
Exchange Rate                                                  CDN$1.50: US$1.00
================================================================================

        Production rates, ore grades and metallurgical recoveries over this
        period have been reviewed by SRK and found to be within those
        historically achieved at each respective operation, and are achievable.
        PJV should expect to mine about 66Mt of ore at an average run-of-mine
        (RoM) gold grade of 1.8g/t and to recover 3.5Moz of gold over the 13
        year LoM period.

        Historical operating costs for the period 1999-2002 averaged
        CDN$33.62/t, which compares favorably to budgeted costs for the same
        period. Projected costs moving forward are estimated to average
        CDN$17.50/t for the duration of the project.

        SRK's review of planned versus actual capital expenditures (for years
        1999 to 2002) conclude that the operations have historically operated
        within their budgeted parameters. SRK is of the opinion that this trend
        will continue into the future. Capital costs projections over the LoM
        are projected to be CDN$263million over the duration of the project.


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                            Page xiv
--------------------------------------------------------------------------------

V.      MATERIAL ISSUES & OPPORTUNITIES

        SRK finds no material issues associated with the technical-economic
        aspects of the PJV model. The PJV Model, while confidential, indicates a
        positive cash flow, and review of both parameters and results by SRK
        indicates that the models are free of gross errors and omissions, and
        are in SRK's opinion, reasonable.









--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                              Page 1
--------------------------------------------------------------------------------

1.0     INTRODUCTION & TERMS OF REFERENCE

        Steffen, Robertson and Kirsten (Canada) Inc. ("SRK") has been retained
        by Kinross Gold Corporation ("Kinross") to complete an independent
        technical report in compliance with National Instrument 43-101 on the
        Pamour Project, the Hoyle Pond Mine and the Dome Mine, all located
        within the city limits of Timmins, Ontario. These properties fall within
        the Porcupine Joint Venture ("PJV"), an unincorporated joint venture
        formed with Placer Dome (CLA) Limited, a wholly owned subsidiary of
        Placer Dome Inc. ("Placer"), as of July 1, 2002. The PJV combines the
        Kinross and Placer gold mining operations in the Porcupine District in
        Timmins, Ontario, Canada. Placer is manager of all assets of the PJV.

1.1     SCOPE OF WORK

        The scope of work undertaken by SRK involved an assessment of the
        following aspects of the properties:

        o    Geology,

        o    Mineral Resources,

        o    Conversion of Mineral Resources to Mineral Reserves,

        o    Life-of-Mine ("LoM") Plan,

        o    Metallurgy and Processing Plant,

        o    Tailings/Waste Disposal,

        o    Environmental - Incl. Water Management, Mine Closure and Salvage
             Value,

        o    Infrastructure,

        o    Economic Analysis

1.2     BASIS OF THE TECHNICAL REPORT

        In summary, this technical report has been based on:

        o    Inspection visits to surface and underground operations, processing
             facilities, surface structures and associated infrastructure at
             each of the mining assets during 2003,

        o    Full access to key mine and head office personnel for discussion
             and enquiry,

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                              Page 2
--------------------------------------------------------------------------------

             A review, and where appropriate, modification of PJV's estimates
             and classification of Mineral Resources and Mineral Reserves,
             including the methodologies applied by PJV in determining such
             estimates and classifications, for each of the Mining Assets
             including check calculations where appropriate,

        o    A review, and where appropriate, modification of PJV's LoM Plans
             and supporting documentation and the associated
             technical-economic parameters, including assumptions regarding
             future operating costs, capital expenditures and saleable
             concentrates for the mining assets,

        o    An examination of documentation made available by PJV in respect
             of the Material Properties in support of the operational planning
             and in particular the LoM plans and one-year budgets, and

        o    A desktop review of the data pertaining to PJV's mine sites
             including Mineral Resource estimations and classifications, where
             appropriate.

        SRK's approach in undertaking a review of the Mineral Resource and
        Mineral Reserve estimations and classifications is detailed in Section
        4. Mineral Resource and Mineral Reserve statements, LoM plans and
        related estimation methodologies, which were examined by SRK and
        presented in this report, were prepared by PJV personnel.

        Given the extensive operating history of the Mining Assets, geological
        investigations, reconciliation studies, independent check assaying and,
        in certain instances, independent audits, SRK has not found it necessary
        to independently verify the underlying data, including sampling and
        assay data.

1.3     LIMITATIONS & RELIANCE ON INFORMATION

        SRK's opinion contained herein and effective December 31 2002, is based
        on information provided to SRK by Kinross throughout the course of SRK's
        investigations as described in Section 1.2, which in turn reflect
        various technical and economic conditions at the time of writing. Given
        the nature of the mining business, these conditions can change
        significantly over relatively short periods of time.

        The achievability of LoM plans, budgets and forecasts are inherently
        uncertain. Consequently actual results may be significantly more or less
        favorable.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                              Page 3
--------------------------------------------------------------------------------

        This report includes technical information, which requires subsequent
        calculations to derive sub-totals, totals and weighted averages. Such
        calculations inherently involve a degree of rounding and consequently
        introduce a margin of error. Where these occur, SRK does not consider
        them to be material.

        SRK is not an insider, associate or an affiliate of Kinross, and neither
        SRK nor any affiliate has acted as advisor to Kinross or its affiliates
        in connection with the PJV. The results of the technical review by SRK
        are not dependent on any prior agreements concerning the conclusions to
        be reached, nor are there any undisclosed understandings concerning any
        future business dealings.

        SRK reviewed a limited amount of correspondence, pertinent maps and
        agreements to assess the validity and ownership of the mining
        concessions. However, SRK did not conduct an in-depth review of mineral
        title and ownership, consequently, no opinion will be expressed by SRK
        on this subject.

1.4     DISCLAIMERS & CAUTIONARY STATEMENTS FOR US INVESTORS

        In considering the following statements SRK notes that the term "ore
        reserve" for all practical purposes is synonymous with the term "Mineral
        Reserve".

        The United States Securities and Exchange Commission (the "SEC") permits
        mining companies, in their filings with the SEC, to disclose only those
        mineral deposits that a company can economically and legally extract or
        produce from. Certain items are used in this report, such as
        "resources," that the SEC guidelines strictly prohibit companies from
        including in filings with the SEC.

        Ore reserve estimates are based on many factors, including, in this
        case, data with respect to drilling and sampling. Ore reserves are
        determined from estimates of future production costs, future capital
        expenditures, future product prices and the exchange rate between the
        Canadian Dollar ("CDN$") and the United States Dollar ("US$"). The
        reserve estimates contained in this report should not be interpreted as
        assurances of the economic life of the Mining Assets or the future
        profitability of operations. Because ore reserves are only estimates
        based on the factors described herein, in the future these ore reserve
        estimates may need to be revised. For example, if production costs
        decrease or product prices increase, a portion of the resources may
        become economical to recover, and would result in higher estimated
        reserves.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                              Page 4
--------------------------------------------------------------------------------

        The LoM Plans and the technical economic projections include
        forward-looking statements that are not historical facts and are
        required in accordance with the reporting requirements of the Ontario
        Securities Commission ("OSC"). These forward-looking statements are
        estimates and involve a number of risks and uncertainties that could
        cause actual results to differ materially.

        SRK has been informed by Kinross that there is no current litigation
        that may be material to any of PJV's mining assets, and that Kinross is
        not aware of any pending litigation that may be material to any of PJV's
        mining assets.

1.5     EXCHANGE RATES

        For the purpose of this report the exchange rates are US$1.00: CDN$1.50.
        Further, all assumed costs (unless otherwise stated) including
        operating, capital and environmental costs, are quoted in December 31
        2002 Canadian dollar terms.

1.6     MINERAL RESOURCE/MINERAL RESERVE STATEMENTS & LOM PLANS

        SRK's technical and economic appraisal presented in this technical
        report has been based on the latest LoM Plans and Mineral Resource and
        Mineral Reserve statements for the mining assets. Table 1.6.1 summarizes
        the respective timing of the Mineral Resource and Mineral Reserve
        statements for the mining assets.

TABLE 1.6.1: EFFECTIVE DATE OF MINERAL RESOURCES & MINERAL RESERVE STATEMENTS

================================================================================
MINE OR PROJECT                                               RESOURCE STATEMENT
                                                                            DATE
--------------------------------------------------------------------------------
Pamour Project                                                 December 31, 2002
Hoyle Pond Mine                                                December 31, 2002
Dome Mine                                                      December 31, 2002
================================================================================

Mineral Resource & Reserve Statements prepared by PJV.

1.7     PRICE STRATEGY

        In this report mineral reserves and mineral resources were calculated at
        a gold price of US$300/oz and US$325/oz, respectively. The technical and
        economic appraisal reported herein has been based on the latest mineral
        resource and mineral reserve statements and LoM Plans prepared by PJV
        that incorporate an assumed gold price of US$325/oz.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                              Page 5
--------------------------------------------------------------------------------

1.8     QUALIFICATIONS OF CONSULTANT

        The SRK Group comprises 500 staff, offering expertise in a wide range of
        resource engineering disciplines. The SRK Group's independence is
        ensured by the fact that it holds no equity in any project and that its
        ownership rests solely with its staff. This permits the SRK to provide
        its clients with conflict-free and objective recommendations on crucial
        judgment issues. SRK has a demonstrated track record in undertaking
        independent assessments of Mineral Resources and Mineral Reserves,
        project evaluations and audits, technical reports and independent
        feasibility evaluations to bankable standards on behalf of exploration
        and mining companies and financial institutions worldwide. The SRK Group
        has also worked with a large number of major international mining
        companies and their projects, providing mining industry consultancy
        service inputs.

        This technical report has been prepared based on a technical and
        economic review by a team of five consultants sourced from the SRK
        Group's Toronto, Canada, and Denver, US offices. These consultants are
        specialists in the fields of geology, Mineral Resource and Mineral
        Reserve estimation and classification, underground and open pit mining,
        rock mechanics engineering, metallurgical processing, hydrogeology and
        hydrology, tailings management, infrastructure, environmental management
        and mineral economics.

        Neither SRK nor any of its employees and associates employed in the
        preparation of this report has any beneficial interest in Kinross or in
        the assets of Kinross. SRK will be paid a fee for this work in
        accordance with normal professional consulting practice.

        The individuals who have provided input to this technical report, who
        are listed below, have extensive experience in the mining industry and
        are members in good standing of appropriate professional institutions.

          o    Jean-Francois Couture, Principal Geologist, Ph.D.;

          o    William Tanaka, Principal Geological Engineer, B.Sc. (Geol. Eng),
               MAUSIMM;

          o    Robert Crepeau, Associate Geological Engineer, B.Sc. (Geol. Eng);

          o    Nick Michael, Senior Mineral Economist, B.Sc. (Mining Eng), MBA;

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                              Page 6
--------------------------------------------------------------------------------

          o    Tim Mosey, Senior Geological/Mining Engineer, B.Sc. (Geol. Eng),
               M.Sc. (Mining Eng).

        In compliance with National Instrument 43-101, the Qualified Person that
        made a personal inspection of the significant mining assets of the PJV
        during the period February 24 to February 28, 2003 is Dr. Jean-Francois
        Couture, principal geologist with SRK. Dr. Couture was accompanied by
        Mr. Nick Michael, Senior Mineral Economist with SRK; Mr. Tim Mosey,
        Senior Geological/Mining Engineer with SRK, Mr. Robert Crepeau,
        Associate Geological Engineer with SRK and Mr. Wes Hanson, Manager of
        Technical Services with Kinross Gold, to verify and collect the
        underlying data for this report.










--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                              Page 7
--------------------------------------------------------------------------------

2.0     INFORMATION ON PJV

        This section of the report describes the history, development and
        organizational structure of the Porcupine Joint Venture. Historic metal
        production is summarized, and each mining asset covered in this report
        is described.

2.1     HISTORY & DEVELOPMENT

        Kinross and Placer have entered into an asset exchange agreement (the
        ``Asset Exchange Agreement'') and a joint venture agreement, both dated
        as of July 1, 2002, for the purpose of forming a joint venture that
        combined the two companies' respective gold mining operations in the
        Porcupine district in the Timmins area, Ontario, Canada. Placer owns a
        51% participating interest and Kinross owns a 49% participating interest
        in the Porcupine Joint Venture, which is managed by Placer. The
        Porcupine Joint Venture incorporates Placer's Dome mine and mill,
        Kinross' Hoyle Pond, Pamour and Nighthawk Lake mines and the Bell Creek
        mill.

2.1.1   THE ASSET EXCHANGE AGREEMENT

        Pursuant to the Asset Exchange Agreement which was entered into as a
        step in implementing the Porcupine Joint Venture, Placer transferred to
        Kinross an undivided 49% interest in all of Placer's assets owned, used
        or thereafter acquired by Placer or its affiliates and located within a
        100km radius of Placer's Dome Mill in or near Timmins, Ontario (the
        ``Development Area'') and used in the gold mining, milling and
        exploration business and operations carried on by Placer or its
        affiliates, including all real property, personal property, inventory,
        certain accounts receivables, buildings, fixtures, facilities, private
        roads and other assets located or acquired in the Development Area,
        including all patented, leasehold, unpatented mining claims and licenses
        of occupation recorded in the name of Placer or its affiliates, the
        benefit of any royalty agreements in favor of Placer or its affiliates,
        the benefit of Placer's leases and other contracts relating to Placer's
        real property and mining claims in this area and the benefits which may
        be obtained under any existing actions, claims or other proceedings
        relating to Placer's business in this area and all goodwill attributable
        to such business.

        Under the Asset Exchange Agreement, Kinross in turn transferred to
        Placer an undivided 51% interest in all of Kinross' assets owned, used
        or thereafter acquired by Kinross or its affiliates and located within
        the Development Area and used in the gold

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                              Page 8
--------------------------------------------------------------------------------

        mining, milling and exploration business and operations carried on by
        Kinross or its affiliates, including all real property, personal
        property, inventory, certain accounts receivable, buildings, fixtures,
        facilities, private roads and other assets located or acquired in the
        Development Area, including all patented, leasehold, unpatented claims
        and licenses of occupation recorded in the name of Kinross, the benefit
        of any royalty agreements in favor of Kinross or its affiliates, the
        benefit of Kinross' leases and other contracts relating to Kinross' real
        property and mining claims in this area and the benefits which may be
        obtained under any existing action, claims or other proceedings relating
        to Kinross' business in this area and all goodwill attributable to such
        business. Any interest that Kinross may acquire in and to the project
        within the Development Area commonly known as the Aquarius Project is
        excluded from the Porcupine Joint Venture pending agreement between the
        parties to include it.

        Under the Asset Exchange Agreement, Kinross has also transferred all of
        its contracts relating to its Timmins operations to Placer, and Placer
        assumed such contracts as manager of the Porcupine Joint Venture for the
        benefit of both parties and the exclusive use of the Porcupine Joint
        Venture. Placer's contracts relating to its Timmins operations remain in
        the name of Placer, which will hold such contracts as manager of the
        Porcupine Joint Venture for the benefit of both parties and the
        exclusive use of the Porcupine Joint Venture.

2.1.2   THE PORCUPINE JOINT VENTURE AGREEMENT

        The purpose of the Porcupine Joint Venture is to engage in operations
        relating to the mining, milling, exploration and development of the
        properties subject to the Porcupine Joint Venture, and to perform any
        other activity necessary, appropriate or incidental to the foregoing.
        The term of the Porcupine Joint Venture is from July 1, 2002 and until
        so long thereafter as ores and mineral resources are produced from the
        assets forming part of the Porcupine Joint Venture and all reclamation
        obligations, liabilities or responsibilities under applicable laws or
        instruments of title relating to operations under the Porcupine Joint
        venture have ceased or been satisfied, to a maximum of 99 years, unless
        the Porcupine Joint Venture is earlier terminated pursuant to the terms
        of the Porcupine Joint Venture Agreement.

        Each of Kinross and Placer is obligated to contribute funds from time to
        time to the Porcupine Joint Venture in proportion to their respective
        participating interests, pursuant to adopted programs and budgets.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                              Page 9
--------------------------------------------------------------------------------

        Under the Porcupine Joint Venture a party's participating interest may
        be reduced upon the election by such party not to contribute to an
        adopted program and budget for the Porcupine Joint Venture, or in the
        event of a default by such party in making its agreed upon contribution
        to an adopted program and budget.

        In addition, if a party's participating interest is reduced to less than
        10%, the other party may elect that the first party be vested with a 2%
        net smelter returns royalty on ores and minerals mined from the
        properties subject to the Porcupine Joint Venture and the first party
        shall be deemed to have transferred its remaining participating interest
        to the other party. The PJV land position in the Timmins District as of
        December 2002 is shown in Figure 2.1.

2.2     BUSINESS OVERVIEW

        Kinross and Placer are principally engaged in the exploration for and
        the acquisition, development and operation of gold bearing properties.

        At present, Kinross hold three primary operating properties located in
        Canada, the United States and the Russian Far East. Exploration
        activities are undertaken in these countries and others. Kinross'
        principal product and source of cash flow is gold.

        At present, Placer's major mining operations are located in Canada, the
        United States, Australia, Papua New Guinea, South Africa and Chile.
        Exploration work is carried out in the above-mentioned countries and
        many others elsewhere throughout the world. Placer's principal product
        and source of earnings is gold, although significant quantities of
        silver and copper are also produced.

2.3     ORGANIZATIONAL STRUCTURE

        In summary, immediately prior to the formation of the PJV significant
        mining assets pulled into the PJV consisted of the following:

        o   The Hoyle Pond Mine, owned and operated by Kinross (100%) which it
            controlled as part of the May 1993 amalgamation.

        o   The Pamour Mine, owned by Kinross (100%), which it acquired on
            December 1999 as part of Royal Oak's Timmins assets.

        o   The Dome Mine and Mill owned and operated by Placer (100%).

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 10
--------------------------------------------------------------------------------

   FIGURE 2.1: TIMMINS GENERAL PROPERTY POSITION










                                   [PICTURE]









--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 11
--------------------------------------------------------------------------------

2.4     METAL PRODUCTION

        Table 2.4.1 sets forth production statistics for the last 5 years, 1998
        through 2002.

<TABLE>
<CAPTION>

TABLE 2.4.1: GOLD PRODUCTION STATISTICS
============================================================================================================
                             UNITS     TOTAL        2002        2001        2000        1999        1998
                                      OR AVG.
------------------------------------------------------------------------------------------------------------
<S>                           <C>     <C>          <C>        <C>         <C>         <C>         <C>
MILLED TONNES
  Pamour                      000t     1,691.7           -          -           -       714.5       977.2
  Hoyle Pond                  000t     2,183.8       444.0      443.9       460.6       419.1       416.2
  Dome                        000t    20,647.8     3,820.1    4,121.9     4,234.1     4,306.7     4,165.0
  ----------------------------------------------------------------------------------------------------------
                   TOTAL      000T    24,523.3     4,264.1    4,565.8     4,694.7     5,440.3     5,558.4
ROM GRADE
  Pamour                       gpt        2.19           -          -           -        2.05        2.30
  Hoyle Pond                   gpt       12.06       11.90      12.40       11.30       11.50       13.27
  Dome                         gpt        2.52        2.40       2.60        2.50        2.50        2.60
  ----------------------------------------------------------------------------------------------------------
                 AVERAGE       GPT        3.35        3.39       3.55        3.36        3.13        3.35
CONTAINED GOLD
  Pamour                       koz       119.2           -          -           -        47.0        72.2
  Hoyle Pond                   koz       846.7       169.9      177.0       167.3       155.0       177.6
  Dome                         koz     1,674.0       294.8      344.6       340.3       346.2       348.2
  ----------------------------------------------------------------------------------------------------------
                   TOTAL       KOZ     2,639.9       464.6      521.5       507.7       548.1       597.9
PROCESS RECOVERY
  Pamour                        %        84.6%           -          -           -       84.2%       84.8%
  Hoyle Pond                    %        87.9%       90.0%      88.3%       83.7%       88.0%       89.3%
  Dome                          %        91.5%       87.3%      87.9%       92.2%       94.8%       94.5%
  ----------------------------------------------------------------------------------------------------------
                 AVERAGE        %        90.0%       88.2%      88.0%       89.4%       91.9%       91.8%
RECOVERED GOLD
  Pamour                       koz       100.8           -          -           -        39.6        61.2
  Hoyle Pond                   koz       744.0       152.8      156.3       140.0       136.3       158.6
  Dome                         koz     1,530.9       257.2      302.8       313.9       328.1       328.9
  ----------------------------------------------------------------------------------------------------------
                   TOTAL       KOZ     2,375.8       410.0      459.1       453.9       504.0       548.8
============================================================================================================
</TABLE>

2.5     PROPERTY DESCRIPTIONS

        Following are descriptions of the key PJV properties focused in this
        report.

        SRK reviewed relevant project data and limited correspondence from the
        appropriate regulatory agencies to determine the validity and ownership
        of the mining asset. However, SRK did not conduct an in-depth review of
        mineral title and ownership and therefore has not provided an opinion on
        this matter.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 12
--------------------------------------------------------------------------------

2.5.1   PAMOUR PROPERTY

        On December 24, 1999, Kinross acquired the Timmins assets of Royal Oak
        Mines Inc, which include the Pamour Project, for cash amount of
        CDN$4.7million and assumed certain environmental reclamation liabilities
        on the historic producing areas.

2.5.1.1 LOCATION & ACCESSIBILITY

        The Pamour Property is located north of Highway 101, within the City of
        Timmins, Township of Whitney and District of Cochrane, Ontario, Canada.
        The mine site is approximately 19km east of the downtown core of Timmins
        and 43km west of Highway 11. The Pamour Project is also approximately
        2km south of and contiguous with the Hoyle Pond Mine. The city of
        Timmins is 60km from highway 11, an alternate Trans Canada Highway and
        offers a full service airport. A location Map is presented in Figure
        2.1.

        The area climate consists of cold winters and hot summers. Temperatures
        range from -40(0)C to above 30(0)C. Mean precipitation is approximately
        80cm annually.

        The topography of the area is typical of the Canadian Shield and
        consists of an irregular surface with moderate relief. The topographic
        highs are the result of bedrock outcrops and are surrounded by low-lying
        areas of poorly drained wetlands. Vegetation includes spruce, pine,
        poplar and birch trees and various shrubs, grasses and mosses. The
        elevation ranges from 200m to 300m.

2.5.1.2 DESCRIPTION

        The Pamour Property is managed by Placer on behalf of the PJV. The PJV
        ownership is held 51% by Placer and 49% by Kinross. The Pamour Property
        is contiguous to the south with the Hoyle Pond Mine property.

        The necessary permits required to commence mining of the mineral
        reserves contained in the existing Pamour pit, north of Highway 101,
        referred to as the phase one mine plan, have been maintained in good
        standing and require only administrative reactivation.

        Kinross will require additional permit approvals to mine south of
        Highway 101, which is outside of the Phase I mine plan. The government
        agencies that will be involved in

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 13
--------------------------------------------------------------------------------

        the additional permitting process include the City of Timmins, the
        Matagami River Conservation Authority, the Ontario Ministries of
        Northern Development and Mines, Natural Resources, Environment and
        Transportation, the Federal Department of Fisheries and Oceans and
        Environment Canada.

        The key element in the development of the expanded open pit outside of
        the phase one mine plan will be the relocation of Highway 101. The
        proposed relocation will travel around the south side of the Three
        Nations Lake, and will therefore have a direct effect on a nearby fish
        habitat. This highway has been relocated several times during the
        production history of the mine. As a fishery resource will be involved
        in the project planning, the Canadian Environmental Assessment Act
        process will be the guiding legislation. Kinross believes there is a
        high level of assurance that the project will receive all required
        approvals for development.

        Some land acquisition will be required for the construction of the
        project. The Drew claims located immediately north of the phase one open
        pit, for which the surface rights are required for a waste rock disposal
        site, will have to be acquired. The Tanager claims located on the
        eastern shore of the Three Nations Lake for which the surface rights are
        required because of their proximity to the causeway and rock dumps, will
        also have to be acquired. Negotiations for the acquisitions of these
        claims have been initiated during the fourth quarter of 2002 and Kinross
        believes there is a high level of assurance that they will be concluded
        successfully. A right of way will have to be obtained for the haulage
        road from the Pamour mine to the Dome mine, for which negotiations have
        not yet commenced. A site plan is shown in Figure 2.2.

        LAND TENURE

        The Pamour Project Impact Area straddles over five townships: Whitney,
        Tisdale, Deloro, Shaw and Hoyle. A complex pattern of mining and surface
        rights exists in the vicinity of the Pamour site, with surface and
        mining rights often assigned under different parcel numbers for the same
        area. A complete listing of disposition of Lands, affected by the Pamour
        project is included in Appendix 1.

        The majority of mining and surface rights around the Pamour are held by
        the PJV within Whitney and Hoyle Townships, with notable exceptions held
        by Drew (Schumacher Estate), Tanager, the Ontario Northland Railway
        ("ONR"), The City of Timmins, 1040523 Ontario Ltd., Falconbridge, Gaston
        Ray Malette Inc., John E. Lundstrom , Korba, and the Province of Ontario
        (The Crown).

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 14
--------------------------------------------------------------------------------








                                   [PICTURE]








--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 15
--------------------------------------------------------------------------------

        The proposed haul road alignment from Pamour to Dome courses through
        Whitney and Tisdale Townships north of the towns of Porcupine and South
        Porcupine, with the majority of the alignment following PJV owned lands.
        Exceptions to this are parcels held by Meunier, Deluca, Montgomery and
        The Crown.

        Property ownership and land title searches were conducted during
        November and December 2002, and can be considered accurate as of
        December 18, 2002.

        DREW CLAIMS (OWNED 50% BY SCHUMACHER ESTATE, 50% DREW ESTATE)

        The Drew Claims Parcel 3972 WT lies to the north and center of the
        proposed pit, comprising 16ha and is part of the Schumacher Estate group
        of claims in the Timmins area. The parcel includes surface and mining
        rights.

        TANAGER/THREE NATIONS LAKE

        The 32ha Tanager claims Parcels P7718 and P7719, WT 2716 and 2715, LO
        3604 encompass an area south of the proposed pit and includes
        approximately 30% of Three Nations Lake.

        ONR

        The Ontario Northland Railway alignment runs north of the Pamour site,
        and comprises surface rights for parcel ONR 1209 SND. The alignment is
        not affected by the proposed pit expansion.

        CITY OF TIMMINS

        Surface rights to a number of parcels around Three Nations Lake are held
        by the City of Timmins. These parcels are significant for Highway 101
        re-alignment and waste rock storage.

        1040523 ONTARIO INC.

        1040523 Ontario Inc. holds surface rights 11834 WT in Parcel P1231013 to
        an area southwest of the proposed pit, and south of Highway 101.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 16
--------------------------------------------------------------------------------

        FALCONBRIDGE

        Falconbridge (owner of the Kidd Met Site) owns the surface rights to
        parcels 9479SEC, 8654SEC, 17302SEC, and 14581SEC in Hoyle Township, to
        the northeast of the proposed pit expansion.

        GASTON RAY MALETTE, INC.

        Gaston Ray Malette Inc. owns surface rights 12270 WT in claim parcel
        P1231013, in an area between Three Nations Lake and that held by 1040523
        Ontario Inc.

        JOHN E. LUNDSTROM

        John E. Lundstrom owns surface rights 8495 WT in claim parcel P1231013,
        in an area directly north of Gaston Ray Malette Inc, across Highway 101.

        KORBA

        Korba Claim P3001506 covers a portion of the Three Nations Lake bed.

        MEUNIER/MONTGOMERY

        The haul road alignment from Pamour to Dome crosses Claim Parcel P783671
        in Whitney Township and is listed as having Joint Venture ownership
        between Royal Oak and Meunier.

        DELUCA/CROWN

        The location of the haul road crossing Highway 101 has surface rights
        ownership listed under Deluca 12129 WT and 12131 WT and the Crown 12838
        WT and 12839 WT in Tisdale Township, west of the town of South
        Porcupine.

2.5.1.3 HISTORY

        Staking in the Pamour area began in 1910. Limited production was
        achieved on the Pamour property from 1911 to 1914. Different owners
        operated the Pamour Mine continuously from 1936 to 1999. Kinross
        purchased the Timmins area assets of the former owner, Royal Oak Mines
        Inc. in 1999. Since 1936, over 4Moz (113t) of gold have been recovered
        from the Pamour Mine.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 17
--------------------------------------------------------------------------------

        BULK AND NARROW VEIN UNDERGROUND: 1936-1975

        Pamour Mine production was derived from low tonnage, high-grade narrow
        vein sources during the early years. Of the 3.2Moz Au produced from
        Pamour to the end of 1975, 880koz Au from 5.0Mt of ore was mined from
        high grade narrow vein sources between surface and the 2200ft level.

        The Pamour Mine production evolved through time by increasing tonnage
        provided by lower grade underground bulk exploitable sources. Sixty-two
        percent of production from the mine has been from lower cost bulk mining
        methods such as long-hole stoping, open blast hole stoping, sublevel
        cave, sublevel retreat, and modified vertical crater retreat techniques.
        The diamond drilling philosophy in the early years was focused on
        higher-grade sources and little attention was paid to the pervasive
        low-grade gold-bearing halo surrounding these high-grade veins.
        Frequently many of the bulk stopes were over drawn by as much as 200%,
        as the sloughed material contained lower grade but economic ore.

        OPEN PIT MINING: 1976-1996

        Open-pit mining was introduced to remove crown pillars in 1976, and
        expanded to exploit lower grade gold haloes surrounding the higher-grade
        bulk and narrow vein stopes. The original pit life in 1976 was a few
        years. During the ensuing years, pit reserves were replaced as they were
        mined out.

        HISTORICAL PRODUCTION

        A tabulation of the production history as a percentage of different
        mining methods of the mine to the end of 1997 is given in Table 2.5.1.
        Approximately 4.0Moz Au were produced from the Pamour Mine from 1936
        through 1997. There has been no production at the Pamour Mine since
        Kinross acquired it in 1999.

TABLE 2.5.1: HISTORICAL PRODUCTION, PAMOUR MINE

================================================================================
                                  TOTAL TONNAGE              TOTAL AU OZ
MINING METHOD                               (%)                       (%)
--------------------------------------------------------------------------------
Bulk Underground                           61%                        62%
Open Pit                                   34%                        23%
Metavolcanic Narrow                         5%                        15%
Veins
--------------------------------------------------------------------------------
                   TOTAL                  100%                       100%
================================================================================


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 18
--------------------------------------------------------------------------------

2.5.2   HOYLE POND MINE

        On September 30, 1993, Kinross acquired Falconbridge Gold Corporation
        ("FGC") for an aggregate purchase price of CDN$17.7million. This
        acquisition gave Kinross control of various FGC-owned mining properties,
        including among others, the Hoyle Pond Mine.

2.5.2.1 LOCATION & ACCESS

        The Hoyle Pond complex is located in Northern Ontario, within the
        Timmins city limits. Access to the mine is via a 5km all weather gravel
        road north of Highway 101. Services are generally acquired from vendors
        in the Timmins area. Ontario Hydro, a major public utility, provides
        power at the mine site. Adequate process water is available from the
        clear water pond at the tailings, while make up water and potable water
        comes from underground supply. The city of Timmins is 60km from highway
        11, an alternate Trans Canada Highway and offers a full service airport.
        A location Map is presented in Figure 2.1.

        The area climate consists of cold winters and hot summers. Temperatures
        range from -40(0)C to above 30(0)C. Mean precipitation is approximately
        80cm annually.

        The topography of the area is typical of the Canadian Shield and
        consists of an irregular surface with moderate relief. The topographic
        highs are the result of bedrock outcrops and are surrounded by low-lying
        areas of poorly drained wetlands. Vegetation includes spruce, pine,
        poplar and birch trees and various shrubs, grasses and mosses. The
        elevation ranges from 200m to 300m.

2.5.2.2 DESCRIPTION

        The Hoyle Pond Mine complex includes the Hoyle Pond underground mine,
        and the Bell Creek underground mine and mill facility acquired as a
        result of the acquisition of FGC on September 30, 1993, are located on
        889ha of patented land, 453ha of land leased from the Crown and one
        private lease covering 64.6ha. There are also two staked mining claims
        covering 32ha contiguous to the afore-mentioned land but located in
        Whitney Township (due south of Hoyle Township).

        There are various royalties on the Hoyle Pond underground mine land
        package. The only royalties requiring payment at present are a
        tonnage-based royalty on the private

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 19
--------------------------------------------------------------------------------

        lease and a $0.10 per tonne royalty for the Stinger Agreement. Royalty
        payments were CDN$100,000 in both 2001 and 2000. A site plan is shown in
        Figure 2.3.

        All requisite permits have been obtained for the mining and continued
        development of the Hoyle Pond Mine and are in good standing. The PJV is
        in compliance with Hoyle Pond Mine permits in all material respects.















--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 20
--------------------------------------------------------------------------------








                                   [PICTURE]








--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 21
--------------------------------------------------------------------------------

        LAND TENURE

        The Claim Group prepared a report on land title issues for Placer as
        part of a due diligence on Kinross assets on June 26, 2002. The
        following description of land encumbrances were extracted from this
        report. A complete list of land titles and encumbrances is presented in
        Appendix 1.

        The Hoyle Township property is comprised of mining leases (SRO, MRO,
        MR+SR) and patented claims (SRO, MRO, MR+SR). With the exception of
        Parcel 3074SWS (Schumacher Estate), the property is registered to the
        Porcupine Joint Venture being Placer Dome (CLA) Limited (51%) and
        Kinross Gold Corporation (49%) and is subject to the following:

        ONTARIO MINISTRY OF NORTHERN DEVELOPMENT

        1999 Agreement with the Ontario Ministry of Northern Development and
        Mines governing the public safety and rehabilitation aspects for the
        former Royal Oaks properties.

        ABITIBI CONSOLIDATED

        A 2000 Agreement with Abitibi Consolidated for the disposal of pulp and
        paper mill biosolids on mine rehabilitation properties. This agreement
        concerns an experimental project on mine rehabilitation and is not
        considered to have material impacts on the project.

        THUNDERWOOD AGREEMENT

        The Thunderwood Agreement (Unregistered): Agreement (24 January 1986)
        between Kidd Creek Mines Ltd. and Syngold Exploration Inc. (now
        Thundermin Resources Inc.

        ALLERSTON-ROSARIO AGREEMENT

        The Allerston-Rosario Agreement: Registered Agreement (402978) between
        Ralph Allerston and Canamax Resources (formerly Rosario Resources).
        Lands Affected: 1421LC, 1338LC; Project: 1800 Hoyle Pond Operations and
        3005 Hoyle 5; operation status: No Active Mining.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 22
--------------------------------------------------------------------------------

        FISHER AGREEMENT

        The Fisher Agreement: Registered Agreement (316796) between Casselman,
        Casselman and Fisher and Rosario Resources Canada Ltd. Lands Affected:
        15504SEC; project: 2002 Fisher; operation status: No Active Mining.

        PRENTICE AGREEMENT

        The Prentice Agreement (Unregistered): Agreement (16 July 1979) between
        DF Prentice, R McLennan, JF McLennan, A Robertson, St. Andrews Church
        and Rosario Resources. Lands Affected: 460SND; project: 2101 Fisher;
        operation status: No Active Mining.

        WETMORE AGREEMENT

        The Wetmore Agreement (Unregistered): Agreement between Kidd Creek Mines
        Ltd. and Allen EL Wetmore. Lands Affected: 8596W+T (Whitney twp);
        12140SEC, 12148-51SEC (Hoyle twp); Project: 1800 Hoyle Pond Operations;
        operation status: No Active Mining.

        MARLHILL AGREEMENT

        The Marlhill Agreement: Registered Agreement (304107) between Marlhill
        Mines Limited and Amax of Canada Limited. Lands Affected: 13435-36SEC;
        project: 2201 Marlhill Mine, 2203 Marlhill operation status: active
        mining.

        BROULAN AGREEMENT

        The Broulan Agreement: Registered Agreement (304105) between Broulan
        Reef Mines Limited and Rosario Resources Canada Ltd. (08 Jan 1980) and
        assigned to Amax of Canada Limited (30 Dec 1981). Lands Affected: 155LC
        and 156LC; Project: 1800 Hoylepond Ops, 2202 Broulan; operation status:
        No Active Mining.

        TEXAS GULF COVENANTS

        The Texas Gulf Covenants. Lands Affected: 22927-28SEC, 24182SEC;
        operation status: No Active Mining-Separate from the Hoyle Pond
        Operations.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 23
--------------------------------------------------------------------------------

        STRINGER AGREEMENT

        The Stringer Agreement (Unregistered): Option Agreement (14 November
        1969) between S Stringer and Canadian Nickel Company Limited. Lands
        Affected: 17091-92SEC; project: 1800 Hoyle Pond Ops; Operation status:
        Active Mining.

        STRINGER-ROSARIO AGREEMENT

        The Stringer-Rosario Agreement: Registered Agreement (302819) between S
        Stringer and Rosario Resources Canada Ltd. Lands Affected: 10568SEC;
        Project: 2204 Stringer; operation status: No Active Mining.

        MEYERS AGREEMENT

        The Meyers Agreement: Registered Agreement (444482) between Kinross Gold
        Corporation and Bruce Edwin Meyers. Lands Affected: 5132SEC; project:
        1800 Hoyle Pond Opoerations; operation status: No Active Mining.

        DOMMEL AGREEMENT

        The Dommel Agreement (Unregistered): Agreement between KG Dommel and
        Rosario Resources Canada Ltd. Lands Affected: 9083SEC; Project: 2205
        Dommel; operation status: No Active Mining.

        JOANIS AGREEMENT

        The Joanis Agreement: Registered Agreement (370741) between Falconbridge
        Limited and Lauryanne Joanis. Lands Affected: 9088SEC; project: 1800
        Hoyle Pond Operations; operation status: No Active Mining

        SCHUMACHER AGREEMENT

        The Schumacher Agreement: Registered Lease Agreement (368469) between PC
        Finlay, Canada Permanent Trust Company. Lands Affected: 3074SWS;
        project: project:1800 Hoyle Pond Ops, operation status: Active Mining.

        TIMMINS FOREST PRODUCTS AGREEMENT

        Timmins Forest Products Agreement (Unregistered): Agreement (25 October
        1999) between Timmins Forest Products (TFP) and Kinross Gold
        Corporation. Lands Affected: 1755SEC, 9088SEC, 15504SEC, 18797SEC,
        22896SEC, 22931SEC.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 24
--------------------------------------------------------------------------------

        TIMMINS FOREST PRODUCTS AGREEMENT

        Timmins Forest Products Agreement (Unregistered): Agreement (25 October
        1999) between Timmins Forest Products (TFP) and Pentland Firth Ventures
        Ltd. Lands Affected: 9950SEC, 13435SEC, 16931SEC, 16933SEC, 24053SEC
        (2ndly).

        ONTARIO MINISTRY OF NATURAL DEVELOPMENT AND MINES AGREEMENT

        A 1999 Agreement with the Ontario Ministry of Northern Development and
        Mines governing the public safety and rehabilitation aspects for the
        former Royal Oak properties.

        ABITIBI CONSOLIDATED AGREEMENT

        A 2000 Agreement with Abitibi Consolidated for the disposal of pulp and
        paper mill biosolids on mine rehabilitation properties.

2.5.2.3 HISTORY

        The Hoyle Pond Mine discovery hole was drilled by Texas Gulf in 1980,
        when hole 69-17 intersected 6.5g/t Au over 3.0m. Subsequent drill
        programs in 1980 and 1982 outlined a deposit of 199,637 tonnes grading
        15.1g/t Au. A ramp access was developed in 1983 and 1984. The first year
        of mining in 1985 yielded 64,400 tonnes at an average grade of 13.0g/t
        Au.

        In 1994, following the acquisition of Falconbridge Gold Corporation,
        Kinross initiated exploration programs, including diamond drilling and
        underground development. This work resulted in the discovery and partial
        definition of significant additional mineralization in the 1060 Zone,
        `A' Vein and extensions of many producing vein systems in the Hoyle Pond
        Mine.

        Continued drilling and underground development work since 1994, resulted
        in the discovery of the `7' Vein, a system of flat lying veins, as well
        as the sinking of a 815m deep, 4 compartment shaft and additional ramp
        access.

        A significant milestone was reached in 2001 with the production of
        1.5Moz Au. Currently, Hoyle Pond ranks 8th in total ounce production for
        all past and present producing mines in the Timmins camp. The head grade
        for the Hoyle Pond Mine is

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 25
--------------------------------------------------------------------------------

        the highest of any of the significant past, or present producing mines
        in Timmins. Hoyle Pond Mine Production History is shown in Table 2.5.2.

   TABLE 2.5.2: HISTORICAL PRODUCTION, HOYLE POND MINE

==============================================================================
YEAR           ORE MINED       ORE MILLED        AU GRADE       AU RECOVERED
                     (T)              (T)           (G/T)               (OZ)
------------------------------------------------------------------------------
1985              64,400           64,400            13.0             27,000
1986              86,598           83,596            22.3             56,898
1987              89,415          100,690            15.2             47,212
1988              86,817           97,223            17.4             51,358
1989             107,329          109,995            17.9             58,540
1990             109,559          114,995            18.6             64,573
1991             100,196          106,859            18.6             54,118
1992             106,145          109,234            17.8             58,864
1993              77,368           77,368            19.2             47,092
1994              97,369          102,824            17.3             55,170
1995             200,970          178,653            16.7             91,611
1996             379,805          377,752            14.9            161,669
1997             467,446          469,177            13.6            174,317
1998             443,994          416,156            13.3            158,593
1999             435,172          419,108            11.5            136,709
2000             466,787          460,576            11.3            140,441
2001             416,241          443,892            12.4            156,581
2002             441,147          441,147            11.6            147,545
==============================================================================

2.5.3   DOME MINE

        Placer (and it predecessors) has owned and operated the Dome property
        since 1910.

2.5.3.1 LOCATION & ACCESSIBILITY

        The Dome mine is located within the city limits of Timmins, Ontario.
        Access to the property is by a paved road from the town of South
        Porcupine, 6km east of Timmins on Highway 101. Rail freight service is
        available from the Falconbridge-Kidd Creek metallurgical site 8km east
        of the mine. The City of Timmins is 60km from highway 11, an alternate
        Trans Canada Highway and offers a full service airport. A location Map
        is presented in Figure 2.1.

        The area climate consists of cold winters and hot summers. Temperatures
        range from -40(0)C to above 30(0)C. Mean precipitation is approximately
        80cm annually.

        The topography of the area is typical of the Canadian Shield and
        consists of an irregular surface with moderate relief. The topographic
        highs are the result of bedrock

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 26
--------------------------------------------------------------------------------

        outcrops and are surrounded by low-lying areas of poorly drained
        wetlands. Vegetation includes spruce, pine, poplar and birch trees and
        various shrubs, grasses and mosses. The elevation ranges from 200m to
        300m.

2.5.3.2 DESCRIPTION

        The property covers an area of over 2,740ha of staked and patented
        mining claims either held or under option. The land holdings can be
        sub-divided into four sub- groups: the Dome Mine Pit, Underground Mine
        and Mill complex, and the Preston, Paymaster and Vedron properties. A
        site plan is shown in Figure 2.4. A complete listing of property titles
        for the Dome Mine Complex is presented in Appendix 1. Royalties payable
        on the Dome property are described below.

        All requisite permits have been obtained for the mining and continued
        development of the Dome underground and open pit mine and mill and are
        in good standing. The Porcupine Joint Venture is in compliance with such
        permits in all material respects.

        LAND TENURE

        DOME OPEN PIT AND UNDERGROUND MINE

        The Dome open-pit and underground mines, claims, mining and surface
        rights are within the Tisdale, Whitney, Deloro and Shaw Townships of
        Ontario. They are registered in the name of Placer Dome Canada Limited
        (51%) and Kinross Gold Corporation (49%).

        PRESTON PROPERTY

        The Preston Property lies adjacent to the southern boundary of the Dome
        property and includes 19 mining claims.

        PAYMASTER PROPERTY

        The Paymaster Property lies to the west of the Dome open pit and
        includes 26 contiguous mining claims.

        VEDRON PROPERTY

        The Vedron Property lies west and south of the Paymaster property and
        covers 585 hectares. By letter Agreement between Placer Dome (CLA)
        Limited and Vedron Gold

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 27
--------------------------------------------------------------------------------

        Inc., dated February 14, 2001 (on the Vedron/Buffalo Ankerite Property,
        Tisdale and Deloro Townships, Ontario).
























--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 28
--------------------------------------------------------------------------------









                                   [PICTURE]









--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 29
--------------------------------------------------------------------------------

        FALCONBRIDGE AGREEMENT

        Agreement between Falconbridge Limited and Placer Dome Canada Limited
        dated January 1, 1994. (Temiskaming Claims).

        NIGHTHAWK AGREEMENT

        Lease Agreement between Dome Mines Limited ("Lessor"), Nighthawk Timber
        Co. Ltd. ("Lessee") and David Kenneth Stringer ("Guarantor") dated
        August 1, 1982.

        DIEPDAUME AGREEMENT

        Claims Purchase Agreement between Placer Dome (CLA) Limited, Diepdaume
        Mines Limited and John Patrick Sheridan dated December 10, 1998.
        (Preston Property)

2.5.3.3 HISTORY

        The Dome gold deposit was discovered in 1909 by a party of prospectors
        headed by John S. Wilson, who found a spectacular showing of gold on a
        dome shaped outcrop of quartz.

        Mining has been continuous at Dome since late 1910; through the 1911
        fire, the 1929 fire and depression and World War Two.

        In 1984 the mill capacity was increased from 2,000tpd to 3,000tpd. Part
        of the expansion included a new vertical production shaft, the No. 8
        shaft, which was sunk from surface to a depth of 1667m.

        In 1987 CIL/CIP, stripping and electrowinning circuits were brought
        on-stream.

        In 1988 No. 8 shaft was not producing due to a skipping accident and No.
        3 shaft could not supply sufficient ore to the mill so underground feed
        was supplemented by open pit ore from the old glory hole.

        From 1992 to 1996 Placer Dome produced from the Paymaster property.

        In 1995 an expansion to the operation, which included an enlarged open
        pit to an ultimate depth of 360m, and increased milling capacity to
        around 12,000tpd was completed.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 30
--------------------------------------------------------------------------------

        The Preston property was purchased in 1997 from Diepdaume Mines and John
        Patrick Sheridan and the Dome open pit was expanded into the Preston
        land holdings. Mining of open pit ore from the Preston was completed in
        2000.

        From its beginning in 1909 to December 31, 2001 Dome Mine has produced
        14,537,596 ounces of gold and approximately 2,596,000 ounces of silver
        making Dome the second largest gold producer of the Timmins camp.















--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 31
--------------------------------------------------------------------------------

3.0     GEOLOGY

3.1     INTRODUCTION

        All of the properties comprising the Porcupine Joint Venture lie within
        the Porcupine Gold Camp ("PGC") in the Archean Abitibi greenstone belt
        at Timmins, Ontario. As such they share common features, which
        characterize the district.

3.1.1   REGIONAL GEOLOGY OF THE PORCUPINE GOLD CAMP - TIMMINS DISTRICT

        The PGC, located in the Archean Abitibi greenstone belt at Timmins,
        Ontario has been the most productive gold-producing field in North
        America. Total historic production is in excess of 62Moz of gold. This
        production has come from laterally-restricted, yet vertically extensive,
        quartz-carbonate lode systems hosted within greenshist-facies
        metamorphics. Lodes are found in a corridor up to 10km wide parallel to
        the 200km Destor Porcupine Fault. At the regional scale, gold deposits
        are spatially associated with regional fault zones. At the camp scale
        gold deposits generally occur within 5km of, but not in, the regional
        faults.

        The rocks within this corridor consist of the younger Timiskaming Group
        conglomerate, greywacke and slates, which overlie an angular
        unconformity of 2679+/-2 Ma underlain by the 2698+/-4 Ma Keewatin
        Series.

        The Keewatin is subdivided into the lower Dolero Group comprising a
        lower suite of mainly basaltic and andesitic flows and an upper
        succession of dacitic flows and dacite-rhyolite pyroclastics with
        stacked Algoma-type iron formations. Dolero Group rocks are overlain by
        the Tisdale Group, which consists of a basal ultramafic volcanics and
        basaltic komatiites, and an upper variolitic tholeiitic basalt capped by
        calc-alkaline dacitic volcaniclastics.

        Deformation prior to deposition of Timiskaming sedimentary rocks
        resulted in east-west striking, periclinal, north-verging folds. These
        folds are the dominant control on the distribution of lithostratigraphic
        units in the Timmins area.

        Most of the gold in the district has been found within the Tisdale
        Group, which was intruded by porphyritic felsic stocks emplaced after
        tilting of the volcanics but prior to the Timiskaming unconformity.
        Porphyries and associated breccias were emplaced

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 32
--------------------------------------------------------------------------------

        between 2688+/-2 and 2691+/-3 Ma (Marmont and Corfu, 1989) into folded
        and faulted sites.

        Intrusion of albitite dykes into older intrusive centers initiated
        porphyry-style hydrothermal systems that culminated in the formation of
        vein- and replacement-type Au-Ag (Melnik-Proud, 1992) late in the
        evolution of these hydrothermal systems.

        The orebodies are localized by specific lithostructural sites, their
        proximity to high level felsic intrusions, and to related hydrothermal
        breccias and alteration (Brisbin, 1997). Although some gold occurs
        within the stocks, most is in the intruded basalts near the contact with
        individual stocks.

        Primary and secondary permeability are important controls on
        hydrothermal alteration, and stockwork fracturing is the dominant
        secondary permeability control on alteration in the PGC. Alteration and
        stockwork fracturing increase in intensity towards mineralized centers.
        Pervasive and fracture-controlled sericite, ferroan dolomite-ankerite,
        silica, albite, chlorite, and tourmaline alteration mark mineralized
        centers. Selective and vein-veinlet chloritization and carbonatization,
        and less intense hydrothermal fracturing typify distal alteration.
        Distal carbonatization is locally pervasive.

        Geometries of intrusions and of primary and hydrothermal features were
        further modified during Kenoran post- mineralization deformation.

        Figure 3.1 shows the regional surface geology in the immediate vicinity
        of the PJV.





--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 33
--------------------------------------------------------------------------------


FIGURE 3.1:  REGIONAL GEOLOGY OF THE PORCUPINE GOLD CAMP







                                   [PICTURE]






Figure 3.2 shows a north-south cross section lokking west in the vicinity of the
Pamour-Hoyle Pond Area.



--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 34
--------------------------------------------------------------------------------

FIGURE 3.2: N-S CROSS SECTION LOOKING WEST THROUGH THE PORCUPINE GOLD CAMP AT
PAMOUR







                                   [PICTURE]



3.2     PAMOUR MINE

3.2.1   LITHOLOGY

        The Pamour Property geology is characterized by three dominant rock
        packages. From North to South (oldest to youngest) mafic and ultramafic
        metavolcanic flows of Keewatin age, a fragmental unit of uncertain
        origin and younger Timiskaming age sedimentary package resting
        unconformably above both units. Another sedimentary package located
        along the extreme north boundary of the property may also be of
        Timiskaming age.

        The metavolcanic assemblage belongs to the lower portion of the Tisdale
        Group of the Keewatin Series. It consists predominantly of a series of
        high Mg-tholeiitic basalts


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 34
--------------------------------------------------------------------------------

        intercalated with thick units of ultramafic talc-carbonate rocks of
        komatiitic or basaltic-komatiitic composition.

        A laterally and vertically discontinuous unit of fragmental rock occurs
        stratigraphically between the underlying Keewatin metavolcanic rocks and
        the Timiskaming metasedimentary rocks. It locally occupies depressions
        along the paleo-topographic surface of the underlying metavolcanic rocks
        and known as the Pamour Unconformity.

        Metasedimentary rocks above and south of the Pamour Unconformity are
        part of the Timiskaming assemblage. (greywacke-turbidite and
        conglomerate). The Timiskaming sequence can be further subdivided into
        four interbedded greywake and conglomerate units: From oldest to
        youngest and also from North to south, North Greywacke, Pamour
        Conglomerate, South Greywacke and another unnamed conglomerate unit.

        The only major intrusive rocks identified to date in the Pamour Deposit
        are Matachewan diabase dykes. All rock units, with the exception of
        diabase dike are metamorphosed to lower greenschist facies.

3.2.2   ALTERATION

        At the mine scale, a large halo of carbonate alteration occurs.
        Alteration is also characterized by additions of K, Rb, Ba, and variable
        gains or losses of Na. In general, gold assays correlate well with
        increased albite/muscovite alteration, however, the alteration halo is
        much larger than the gold content alone.

        Hydrothermal alteration in metavolcanic rocks depicts a zoned profile
        around the Pamour deposit. The inner alteration zone may be less than 30
        m thick, and is characterized by the presence of albite, quartz, pyrite
        and plus/minus talc. The outer assemblage is up to 100m in thickness and
        is characterized by the reduction of albite and quartz, and the
        introduction of sericite.

        Hydrothermal alteration of the metasedimentary rocks is more intense,
        pervasive, and penetrative than that observed in the metavolcanic rocks.
        A similar zoning pattern is observed.

        In general, an increase in the pyrrhotite/pyrite ratio is indicative of
        an increase in the gold content.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 36
--------------------------------------------------------------------------------

3.2.3   STRUCTURE

        The Pamour Deposit is situated on the north limb of an overturned
        north-dipping syncline. The axial surface trends ENE with moderate dip
        to the North (70(degree)). The south limb of this syncline is
        interpreted to have been faulted away by the Destor Porcupine Fault,
        which is located to the south of the mine property. Three generations of
        small-scale folds have been recognized at the Pamour No. 1 Mine. F1
        folds are restricted to the volcanic rocks and predate gold
        mineralization. F2 folds occur in both volcanic and sedimentary rocks
        and also predate mineralization. Youngest F3 folds are the weakest
        developed; occur in both metasedimentary and metavolcanic rock types and
        post-date gold mineralization.

        Narrow auriferous veins in volcanic and sedimentary rock are produced by
        nested conjugate sets of reverse faults developed on either side of the
        Pamour Unconformity. They strike E with steep northerly or southerly
        dips. The intersection between both sets plunges approximately
        30(degree) to the E and repetition occurs on 120m intervals, on average.
        When fault veins come in contact with rock types of differing
        competence, sheeted extension (ladder) veins are developed. These
        commonly occur on the footwall side of the primary vein structures. The
        sheeted veins themselves strike northeast and dip between 30(degree) and
        60(degree). The most prolific occurrence of extension veins appears at
        the axes of the conjugate sets where they are coincident with the Pamour
        Unconformity.

        The Pamour Conglomerate is comparatively stiffer than other lithologies,
        and thus more susceptible to brittle failure and "structural
        preparation". The resulting increase in permeability enhanced
        circulation of hydrothermal solutions within the conglomerate unit, and
        consequently led to the deposition of more gold mineralization in that
        unit than in any other rock type. Approximately 80% of historical ore
        tonnage and ounces at Pamour were produced from the Pamour Conglomerate.

        Two major post-ore dextral faults, the Hallnor and Pamour faults, strike
        north to northwest, dip 60(degree) east, and offset the stratigraphy by
        as much as 370 m. Other post mineralization minor subvertical faults
        include conjugate NW dextral and NE sinistral faults with
        decameter-scale displacement.

        Reverse faults with shallow dips (5(degree) to 10(degree)) occur
        predominantly in the metasediments on the west end of the property. Flat
        faults are truncated by post mineralization faults, but their
        relationship with mineralization is uncertain.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 37
--------------------------------------------------------------------------------

        A talc-chlorite schist zone occurs near the southern property boundary
        and is interpreted to delimit the northern margin of the Porcupine
        Destor Fault zone.

3.2.4   MINERALIZATION

        There are three distinctive, but genetically and spatially related
        mineralization styles at Pamour:

        Type I: Metavolcanic-Hosted Fault-Vein (Narrow Vein)

        Type II: Extension-Vein (Bulk), and

        Type III : Metasediment-Hosted Fault-Vein (TN Veins).

        Type I mineralization occurs at depth to the north in mafic volcanic
        rocks, and roll over at the Pamour Unconformity breaking up into Type II
        mineralization, then dip steeply to the south as Type III
        mineralization. The steep, south-dipping Type III mineralization also
        propagates at depth and rolls over in brittle greywacke beds and
        conglomerates near the Pamour Unconformity.

        Type I mineralization occurs over 600 m of strike and/or dip length
        (e.g. the 51 Vein). Veins are filled with quartz-albite-calcite filled
        with minor amounts of tourmaline, chlorite, sulphides, and gold. Pyrite
        and sphalerite are dominant sulphide minerals, with local chalcopyrite
        also noted. Free gold is commonly noted in the quartz veining.

        The Pamour Unconformity represents a refraction surface, or "hinge,"
        where vein structures change orientation. Type II mineralization is
        dominant south of this unconformity, hosted in conglomerates and
        greywackes as sheeted quartz veins or stockwork stringers resulting in
        repeated "inverted horseshoes" that plunge approximately 30(0) to the
        East. Ore shoots are typically 30m to 60m high, 30m to 45m wide, and up
        to 1,200m in length (along plunge). Gold is typically associated with
        finely disseminated pyrite and pyrrhotite (up to 3%) around a series of
        narrow (2.5cm to 7.5cm) stacked quartz stringers that dip gently to the
        southeast. Sphalerite and galena occur in minor to trace amounts
        overall, but where they occur in greater amounts, coarse free gold is
        usually present.

        Type III mineralization generally exhibit steep dips and strike slightly
        more northerly than stratigraphy. Typically they form a conjugate set to
        Type I mineralization. The vein zones typically range from 0.3m to 4.5m
        wide, up to 45 m in strike, and 600m

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 38
--------------------------------------------------------------------------------

        down dip. Type III mineralization is characterized by
        ankerite-sericite-albite alteration haloes containing disseminated
        pyrite, pyrrhotite, arsenopyrite, sphalerite, galena, and gold. Gold
        occurs both as free, coarse clusters in quartz, and as minute inclusions
        in pyrite and pyrrhotite disseminated in the wall rocks.

3.3     HOYLE POND MINE

        The gold deposits of the Hoyle Pond, Owl Creek and Bell Creek mines are
        located in the southwestern Abitibi Greenstone Belt of the Superior
        Province in the Canadian Shield. They occur 4.5km north of the Destor
        Porcupine Fault zone, which marks a regionally extensive and
        economically important structural break that extends from the Timmins
        area into northwestern Quebec. Rocks hosting the gold deposits are
        correlated with the lower part of the regional Tisdale Group. The
        volcanic stratigraphy in the mine area consists of Archean aged (2703 to
        2698 Ma) komatiitic flows (ultramafic units) defining the core of a
        large antiformal structure. Flanking the ultramafics are 200-600 meters
        of massive to pillowed tholeiitic basalts (mafic volcanic units). The
        volcanics are bounded to the north and south by thin graphitic sediments
        grading outward to intercalated argillite and greywackes of the
        Porcupine Group. These units generally contain a northeast (070(degree))
        striking and steeply north dipping S2 foliation, parallel to regional
        structures throughout the Porcupine Camp. Intrusive rocks are limited to
        quartz and quartz-feldspar porphyry bodies and late, north trending
        diabase dykes, which crosscut all units.

3.3.1   STRUCTURE AND ALTERATION

        The Hoyle Pond main zone and 1060 zone deposits, both of which are
        presently in production, occur on opposite limbs of an open, northeast
        plunging F2 antiformal structure, hosted within carbonitized north
        dipping tholeiitic basalts. The 7 vein system occurs in a series of
        stacked, flat to gently northeast dipping veins in the nose of the
        antiformal structure. Mineralization occurs as coarse free gold in white
        to grey-white quartz veins with a variable ankerite, tourmaline, pyrite
        and local arsenopyrite content. Alteration halos are generally narrow,
        consisting of mainly grey zones (carbon, carbonate, sericite, cubic
        pyrite) in the Hoyle Pond system and carbonate-sericite, plus fuchsite
        with pyrite, arsenopyrite and trace chalcopyrite, sphalerite within the
        1060 structure.


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 39
--------------------------------------------------------------------------------

3.3.2   MINERALIZATION

        The Hoyle Pond main zone includes a series of generally northeast
        striking, linked quartz vein zones (at least 11 veins of economic
        significance), folded on a small scale with moderate west and northeast
        plunging axis. The 1060 zone consists of at least five main vein
        structures (B1, B2 and B3 zones, A zone and Porphyry zone) with
        orientations ranging from north to northeast and generally subvertical
        dip. The veins are strongly boudinaged with the long axis of the
        boudin-oriented subhorizontal to shallow west-southwest plunging.

        A series of auriferous zones occurs along what is termed the south
        trend, stretching from the Bell Creek deposit in the west for 6.4km to
        the 1060 zone (includes Blackhawk-Vogel deposit, Owl Creek West, Owl
        Creek, Owl Creek East and the 950 zone). Mineralization in these zones
        consists of quartz-ankerite veining with varying amounts of pyrite,
        pyrrhotite and free gold. Alteration includes carbonate, sericite,
        carbon and hydromuscovite.

3.4     DOME MINE

        The Dome Mine lies on the south limb of the large scale Porcupine
        Syncline in an area where Archean metavolcanics are overlain by
        metasedimentary rocks.

        At the mine site, the local sequence of north dipping metavolcanics and
        metasedimentary rocks has been folded to form a northeasterly plunging
        structure, referred to as "Greenstone Nose". The sediments are draped
        around this structure and form the "Sedimentary Trough" on the south
        side. Conglomerate is most common nearest the volcanics and in the
        Trough.

        Immediately south of the "Sedimentary Trough" lies an east-west
        striking, highly strained zone in which magnesium-rich, carbonatized
        rock occurs. This highly altered zone corresponds to the trace of the
        ductile Dome Fault interpreted to represent a branch off the main
        Destor-Porcupine Fault. To the west, the Dome Fault Zone passes between
        two major porphyritic intrusive bodies: the Paymaster and the Preston.
        The zone then grades through a chlorite and talc-rich assemblage before
        joining the main Destor-Porcupine Fault. To the east, lenses of
        porphyry, similar compositionally to the main porphyry bodies, occur
        within the Dome Fault Zone. Chlorite and talc-rich assemblages similarly
        represent the eastern extremity of the zone before being truncated by
        the Burrows-Benedict Fault.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 40
--------------------------------------------------------------------------------

        To the south of the Dome Fault Zone are the "Southern Greenstones", a
        south-dipping sequence of basalts consisting of massive and pillowed
        flows. "Southern Greenstone" basalts are more mafic than the flows of
        the "Greenstone Nose". Their anomalous southerly dip suggests that a
        major structural break exists along the Destor-Porcupine deformation
        zone, which dips steeply north and is identified by a well-marked
        talc-chlorite zone. This deformation zone passes about one kilometre
        south of the mine workings.

        Quartz-olivine diabase dykes cut through the main mine area in several
        places and are the only post-ore rock type observed. They occur as a
        single 30ft dyke in the open pit area and as several narrower dykes that
        cut the Dome Fault in the Blueberry Hill area. These dykes belong to the
        "Matatchewan Swarm," a north-south trending set of early Precambrian
        quartz-olivine dykes that crosscut the Timmins-Matatchewan area.

3.4.1   STRUCTURE

        The main structural feature in this area is the Porcupine Syncline. The
        south limb of the Porcupine Syncline has been locally truncated by the
        Dome Fault. At depth, the Dome Fault appears to merge with the
        Destor-Porcupine deformation zone. Felsic quartz-plagioclase porphyritic
        intrusions are deformed by the Dome Fault. The general foliation within
        the Mine has a northeast strike and north dip.

3.4.2   ALTERATION

        The majority of rocks observed at the Dome Mine are altered to lower
        greenschist facies. Dominant alteration types are: carbonatization;
        sericitization; silicification/albitization; and chloritization.
        Carbonatization is associated with all of the mineralization at Dome
        Mine. Sericitization occurs in porphyry and accompanies ankerite in
        carbonatized greenstone. Chloritization is common throughout the basalts
        and is especially intense adjacent to zones of intense carbonatization.

3.4.3   MINERALIZATION

        Several styles of mineralization are recognized in Dome Mine. Some
        styles are preferentially developed in particular rock types. There are
        2 dominant (Types I and II) and 3 subordinate mineralization styles
        (Types III, IV and V):


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 41
--------------------------------------------------------------------------------

        Type I: Long narrow veins parallel to the foliation and the general
        trend of the formation. It includes three types of veins: ankerite veins
        (at flow contacts in the "Greenstone Nose"), quartz-tourmaline veins (in
        the rocks of the Dome Fault Zone), and quartz-fuchsite veins,
        (predominantly in "carb rock");

        Type II: Lenticular or irregular "tension" veins in massive rocks or
        crossing schistosity in schistose rocks. It consists of two styles of
        veining: En echelon veins in massive flows in "Greenstone Block" and
        "Stockworks" in porphyries, "Highly-Altered Rock" and sediments;

        Type III: Mineralized Rock (gold is associated with disseminated pyrite
        and/or pyrrhotite with little or no veining);

        Type IV: Silicified Greenstone - occurs only within the greenstone
        "xenolith" within the Dome Fault Zone;

        Type V: Narrow Quartz Vein Zones - within the slate/greywacke, vertical
        to steep northerly dipping narrow veins striking ENE.

        Gold occurs primarily as native gold in quartz or ankerite veins.
        Tellurides have been recognized, but constitute a very minor source of
        the total gold production. Silver is recovered as a by-product in a
        ratio of about one ounce of silver to six ounces of gold. Sulphides are
        present in all ore types, and average about two to three percent.
        Pyrites with lesser pyrrhotite are the dominant sulphides; chalcopyrite,
        sphalerite and galena are found locally.


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 42
--------------------------------------------------------------------------------

4.0     MINERAL RESOURCES & MINERAL RESERVES

4.1     INTRODUCTION

        The estimation of Mineral Resources for the underground (Dome, Hoyle
        Pond), open pit operation (Dome) and open pit project (Pamour), has been
        completed by PJV mine personnel in the course of business and has been
        reviewed by SRK. In general, the Mineral Resource estimation is based on
        data derived from surface and underground drilling, chip and muck
        sampling.

        Mineral Resources have been classified as Measured, Indicated and
        Inferred Mineral Resources based on the level of confidence in their
        estimation as per industry standards. The technique used is specific to
        each operation and deposit based on the continuity of the geometry and
        grade of the mineralization. The quality of the estimates of the Mineral
        Resources is adequate to derive Mineral Reserves. SRK has not
        re-calculated Mineral Resources and Mineral Reserves estimates for each
        asset. SRK has, however undertaken sufficient verifications to certify
        the quality of the estimation.

        For reporting purposes, Kinross have used a gold price of US$300/oz Au
        for the Mineral Reserves. Mineral Resources have been reported by
        Kinross as the incremental material contained within the Mineral Reserve
        calculated at a gold price of US$325/oz. Au, but outside the reserve at
        US$300/oz. Au.

4.2     PAMOUR MINE

4.2.1   INTRODUCTION

        The Pamour deposit was mined between 1936 and 1996, principally as an
        underground operation. Small-scale open pit mining started in 1976 and
        continued until 1999. Most of the data used for resource and reserve
        estimates was developed between 1976 and 1999 and from two more recent
        drilling programs undertaken by Kinross and their partner.

4.2.2   DATA

        The historic data summarized in Table 4.2.1 consists of both underground
        and surface diamond drilling. A drillhole location map for the Pamour
        deposit is shown in


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 43
--------------------------------------------------------------------------------

        Figure 4.1. Most of the diamond drill holes include downhole survey
        data. Underground drilling on each of the 60m development levels occurs
        as vertical fans along most of the 15 m spaced geological grid fences.
        Diamond drilling on the Pamour property totaled 968,607 m in 15,823
        holes, prior to 2000.

TABLE 4.2.1: HISTORIC DRILLING AT PAMOUR

================================================================================
PERIOD                                     NUMBER OF HOLES        METERS DRILLED
--------------------------------------------------------------------------------
Historic                                            15,823               968,607
2000                                                    61                 5,704
2002                                                    29                 7,313
Total                                               15,913               981,624
================================================================================

        Lesser amounts of definition drilling on 7.6m intermediate fences occur
        throughout the deposit specifically to test local high-grade zones.
        Surface drilling was typically done on the 15m geological grid fences.

FIGURE 4.1:  PAMOUR DRILLHOLE LOCATION MAP






                                   [PICTURE]






--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 44
--------------------------------------------------------------------------------

        Assaying of drill hole data for the Pamour deposit was done by either
        traditional fire assay ("FA") or atomic absorption spectrometry ("AA").
        Between 1934 and 1970, fire assaying was used exclusively. In August
        1996, a change was made to fire assay with atomic absorption finish
        ("FA-AA").

        Approximately 50% of the samples in the database were analyzed by AA.
        There has been some recent concern that a significant portion of the
        database was analyzed using potentially sub-optimal techniques. However,
        the fact that all production assaying and diamond drill core assaying
        was analyzed by AA between 1970 and mid-1996 with no significant
        reconciliation issues identified, suggests that the potential impacts
        are small and gives an adequate measure of comfort for the use of this
        data.

        In 1996, a check assay program was implemented on new drill core
        samples, whereby every tenth sample was sent to another lab for check
        analysis. A total of 1,225 check assays were completed at three
        different laboratories (Chemex, Abilab, and Swastika).

        In order to test the validity of the AA assaying, Royal Oak performed
        check fire assays on coarse rejects for 744 samples. From simple scatter
        plots and basic bivariate analyses, the PJV personnel completing the
        resource estimate concluded that there is no significant bias with the
        AA data. The correlation coefficient between FA-AA and AA samples is
        0.53, which is poor but not unreasonable given the high relative nugget
        effect and that the re-run samples were from bulk rejects rather than
        pulps. However, due to clipping of the scatter plots at 3.1g/t it is
        unclear if this is due to higher grades in the high-grade samples for
        the FA-AA analyses.

        In 2000, Kinross completed a drill program to test the accuracy of the
        previous block model in several, sparsely drilled zones. For this
        program, 5,704m of drilling were completed in 61 holes. The holes were
        drilled mainly as BQ (36.4mm) size core, with some holes drilled as NQ
        (47.6mm) when attempting to penetrate stoped areas. The holes were laid
        out by a surveyor for directional accuracy. Core samples were taken on
        1.5m intervals on average. Shorter or longer samples were taken where
        distinct veining or abrupt changes in host lithologies occurred. Kinross
        used Swastika Laboratories, of Swastika, Ontario for analytical work.
        Analyses were by FA-AA methods. No additional check assay program was
        performed beyond the internal Swastika quality control.


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 45
--------------------------------------------------------------------------------

        Diamond drilling in the area of the Pamour Deposit continued following
        the formation of the PJV in 2002. Twenty-nine holes, totaling 7,313m,
        were added in the database. These holes were primarily located at the
        east end of the deposit filling in areas where the historical Royal
        Oak/Kinross property boundary once existed. All holes were drilled with
        BQ size core. Sampling was done on 1.5m intervals on average, with
        variable sample size taken where changes in mineralization, alteration
        or lithology warranted. All assaying was done by FA-AA finish at XRAL
        Laboratories, of Toronto, Ontario. Post drilling, 10% of the samples
        were put through a QC program early in 2003. Results are pending.

4.2.3   CONTINUITY OF MINERALIZATION

        There are three distinctive mineralization styles at the Pamour
        property. In progressive order, from north to south, they are:

        TYPE I - METAVOLCANIC-HOSTED FAULT-VEIN (NARROW VEIN);

        The Type I veins can extend over 600m in strike and down dip (e.g. the
        51 Vein). They vary in thickness from a few centimeters to a metre, with
        an average true width of 0.75m.

        TYPE II - EXTENSION-VEIN (BULK);

        Gold in the Type II mineralization is typically associated with finely
        disseminated pyrite and pyrrhotite around a series of narrow (2.5cm to
        7.5cm) stacked sheets of quartz stringers that dip gently to the
        southeast. Ore shoots are typically 30m to 60m high, 30m to 45m wide,
        and up to 1,200m in length along their plunge.

        TYPE III - METASEDIMENT-HOSTED FAULT-VEIN (TN VEINS).

        The Type III, TN veins, generally dip steeply to the south and strike
        slightly more northerly than stratigraphy. They are the conjugate set of
        the north dipping metavolcanic-hosted variety. Typically, the vein zones
        are 0.3m to 4.5m wide, up to 450m in strike, and 600m down dip.

        A simplified geologic model shows the Type "I" narrow vein
        mineralization at depth from the north, rolling over at the Pamour
        Unconformity, breaking up into Type "II" bulk mineralization, then
        dipping steeply to the south as Type "III" TN narrow vein
        mineralization. (See Figure 3.2) The steeply south-dipping Type III TN
        narrow veins

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 46
--------------------------------------------------------------------------------

        also propagate at depth and roll over in brittle greywacke beds and
        conglomerate near the Pamour Unconformity.

        Although the mineralization types are genetically and spatially linked,
        the extension-vein bulk mineralization (Type II) is the dominant
        mineralization type amenable to open-pit mining. Type II mineralization
        occurs in the conglomerate and greywackes as sheeted quartz veins or
        stockwork stringers where the two types of narrow vein structures (Types
        I and III) intersect. The resulting "inverted horseshoe" of
        mineralization plunges at about 30(0) to the east. This model is
        vertically repetitive at about 60m to 120m intervals.

4.2.4   COMPOSITING & GEOSTATISTICAL ANALYSIS

        Assay intervals were composited on 3m lengths down hole ignoring
        lithological and domain boundaries, to provide equal support lengths.
        Intervals that were not sampled were converted from null values to
        0.03g/t to better represent the local gold background values in the
        rock. A total of 202,339 composites were includes in the composite
        database. All composites located in mined stopes and high-grade
        composites located in vicinity of these stopes were flagged separately
        and not used for the grade interpolation.

        In order to minimize the effect of local extremely high-grade values,
        high-grade drill hole composites were trimmed to threshold values
        identified in previous studies. See Table 4.2.2. Recent validation work
        of the data using different techniques show that in most cases the
        trimming values used are appropriate. In two of the five domains, the
        selected values are considered by SRK to be conservative.

TABLE 4.2.2: COMPOSITE TRIMMING

================================================================================
     FAULT BLOCK                    DOMAIN                    TRIMMING THRESHOLD
                                                                           (G/T)
--------------------------------------------------------------------------------
               1           1.0, 2.0, 3.0, 1.1, 4.0              17.1, 27.4, 24.0
               2      1.0, 2.0, 3.0, 4.1, 1.1, 4.0              17.1, 27.4, 24.0
               3      1.0, 2.0, 3.0, 4.1, 1.1, 4.0               17.1, 27.4, 3.4
               4      1.0 ,2.0, 3.0, 4.0, 4.2, 4.1               13.7, 3.4, 8.6
               5                1.0, 2.0, 3.0, 4.0                      7.9, 5.1
               6                1.0, 2.0, 3.0, 4.0                      7.9, 5.1
================================================================================


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 47
--------------------------------------------------------------------------------

4.2.5   MINERAL RESOURCE ESTIMATION

        The 2002 block model is a derivative model based upon the 2000 Kinross
        resource model. A Block size of 6.2m x 6.2m x 6.2m was selected to
        reduce the smoothing effect observed with the larger blocks used in
        pre-2000 models. To better resolve lithological, domain, fault block and
        stope boundary surfaces, the model was sub-blocked at these boundaries
        to a minimum of 3.1m x 3.1m x 3.1m. The existing pit surface was
        generated from survey data and topographic DTM. The overburden-bedrock
        contact is based upon diamond drill data. A total of 36 separate
        triangulated models that included overburden, tailing material, mined
        stopes and lithological domain models were completed and inserted in the
        rock model.

        The gold grades were interpolated into blocks using Ordinary Kriging.
        Variogram models developed for each domain and fault block consisted of
        a nugget and two spherical structures. Ellipsoidal searches were used,
        with a minimum of two composites required for an estimate and a maximum
        of 16 allowed.

        All domain and fault boundaries were treated as hard boundaries: i.e.
        blocks within each limit and fault block were only allowed to use
        composites from within that domain and fault block for estimation.
        Composites flagged as being in a mined out stope were not used in the
        estimates. Specific gravity was calculated for the different rock types
        based on 560 separate measurements. Overburden and tailing material
        specific gravities were taken from a previous study and appear to SRK to
        be reasonable.


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 48
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
<S>                                                                           <C>

    TABLE 4.2.3: VARIOGRAM MODEL PARAMETERS

============================================================================================================================
                                                                      STRUCTURE 1                     STRUCTURE 2
                                                      ----------------------------------------------------------------------
                                                               RANGE 1  RANGE 2  RANGE 3       RANGE 1  RANGE 2  RANGE 3
 FAULT      DOMAIN      AZM      DIP   PLUNGE    C0     C1    (STRIKE)   (DIP)  (PLUNGE)  C2   STRIKE)   (DIP)  (PLUNGE)
 BLOCK                                                          (M)       (M)     (M)           (M)       (M)     (M)
----------------------------------------------------------------------------------------------------------------------------
             1,2,3      342      85     -30      0.14   0.51     6         6      1.5    0.28   30         27      6
   1          1.1       142      80       0      0.34   0.27     7         12     1.5    0.27   52         32      6
              4         342      50       0      0.16   0.32     9         12     1.5    0.30   37         29      6
----------------------------------------------------------------------------------------------------------------------------
              1,2,3     340      83     -30      0.14   0.51     6         6      1.5    0.28   30         27      6
   2          1.1       142      80       0      0.34   0.27     7         12     1.5    0.27   52         32      6
              4         342      50       0      0.16   0.32     9         12     1.5    0.30   37         29      6
----------------------------------------------------------------------------------------------------------------------------
              1         342      73     -30      0.29   0.35     5         10     1.5    0.33   29         48      6
              1.1       142      80       0      0.34   0.27     7         12     1.5    0.27   52         32      6
   3          2,3       336      83     -30      0.14   0.51     6         6      1.5    0.28   30         27      6
              4         342      50       0      0.16   0.32     9         12     1.5    0.30   37         29      6
              4.1       342      83     -30      0.14   0.51     6         6      1.5    0.28   30         27      6
----------------------------------------------------------------------------------------------------------------------------
              1,2,3     342      73     -30      0.29   0.35     5         10     1.5    0.33   29         48      6
              4         342      30       0      0.32   0.28     5         10     1.5    0.22   19         43      6
   4          4.1       342      65     -30      0.29   0.35     5         10     1.5    0.33   29         48      6
              4.2       342      45       0      0.32   0.28     5         10     1.5    0.22   19         43      6
----------------------------------------------------------------------------------------------------------------------------
              1,2,3     342      73     -30      0.33   0.21     10        10     1.5    0.31   25         35      6
   5          4         350      40       0      0.14   0.50     19        15     1.5    0.14   27         29      6
----------------------------------------------------------------------------------------------------------------------------
              1,2,3     342      73     -30      0.33   0.21     10        10     1.5    0.31   25         35      6
   6          4         350      40       0      0.14   0.50     19        15     1.5    0.14   27         29      6
============================================================================================================================

    TABLE 4.2.4: SEARCH ELLIPSOID PARAMETERS

=============================================================================
                                                           STRUCTURE 1
                                                -----------------------------
                                                    RANGE 1  RANGE 2  RANGE 3
 FAULT      DOMAIN      AZM      DIP   PLUNGE      (STRIKE)   (DIP)  (PLUNGE)
 BLOCK                                               (M)       (M)     (M)
-----------------------------------------------------------------------------

                                                      30       27       4
  1         1.1         142       80        0         39       24       4
            4           342       50        0         37       29       4
-----------------------------------------------------------------------------
            1,2,3       340       83      -30         30       27       4
  2         1.1         142       80        0         39       24       4
            4           342       50        0         37       29       4
-----------------------------------------------------------------------------
            1           342       73      -30         22       36       4
            1.1         142       80        0         39       24       4
  3         2,3         336       83      -30         30       27       4
            4           342       50        0         37       29       2
            4.1         342       83      -30         30       27       4
-----------------------------------------------------------------------------
            1,2,3       342       73      -30         22       36       4
            4           342       30        0         19       43       2
  4         4.1         342       65      -30         22       36       4
            4.2         342       45        0         19       43       2
-----------------------------------------------------------------------------
            1,2,3       342       73      -30         25       35       4
  5         4           350       40        0         27       29       3
-----------------------------------------------------------------------------
            1,2,3       342       73      -30         25       35       4
  6         4           350       40        0         27       29       3
=============================================================================
</TABLE>

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 49
--------------------------------------------------------------------------------

4.2.6   CONVERSION OF MINERAL RESOURCES TO MINERAL RESERVES

        Mineral Reserves are classified as Proven and Probable according to the
        CIM definition. The Proven Reserve was derived from the Measured Mineral
        Resources and the Probable Reserve was derived from Indicated Mineral
        Resources. Mineral Reserves comprised that portion of the Mineral
        Resource demonstrated to be technically and economically feasible to
        extract.

        The Mineral Reserves are contained within an optimized pit envelope
        defined by a gold price of US$300/oz Au and reasonable production cost
        supported by a detailed pre-feasibility study. The reserves have not
        been adjusted for dilution other than what arises from compositing prior
        to grade interpolation. SRK considers that a further adjustment factor
        for dilution may be required and, if possible, should be addressed in
        the preparation of the final feasibility study. Ore loss is built into
        the optimization and scheduling process and represents a loss of 5% of
        the ore present in the design pit.

4.2.6.1 MINING METHOD

        Mining will be by conventional open pit methods utilizing a primary
        mining fleet of large shovel/excavator type loaders and CAT 785 haul
        trucks. Pit slopes will be dependent on rock type with variable bench
        heights (12m in waste, 6m in ore) to facilitate grade control
        requirements. Haulage ramps will be 32m wide at a maximum grade of 10%.

4.2.7   MINE PLAN

        The Pamour Project feasibility study and permitting process are
        scheduled for completion by the end of 2003 for PJV approval in early
        2004. Construction of the haul road and major infrastructure will be
        completed by late 2004. Stripping will begin in late 2004 and full-scale
        ore mining will be achieved in mid 2005.

        The current mine plan for the Pamour open pit calls for mining 133.2Mt
        of waste and 38.6Mt of ore over the 8 year mine life that will
        ultimately produce 1.6M ounces of recovered gold. The LoM production
        schedule for the Pamour open pit is detailed in Section 5 in Table
        5.1.3.

        The mining rate for Pamour starts at 32,000tpd combined ore and waste
        and peaks at 77,000tpd. Inferred material will be handled as is
        appropriate for the grade of this material. Lower grade material will be
        stockpiled if necessary in Periods 1 through 9

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 50
--------------------------------------------------------------------------------

        and re-handled after the mining is complete. During the mine life, mill
        grade material is re-handled for shortfalls in the direct mine feed and
        the remaining majority at the end of the mine life.

4.2.8   MINERAL RESOURCE & MINERAL RESERVE CLASSIFICATION

        Mineral Resources are classified under the categories Measured,
        Indicated and Inferred Mineral Resources as per CIM definitions.
        Classification of the resources reflects the relative confidence in the
        grade estimates, primarily as a function of sample spacing relative to
        geological and geostatistical observations made regarding the continuity
        of mineralization.

        The Measured category at Pamour consists of material that is estimated
        within the radius defined by the range of the first spherical variogram
        structure. The Indicated category is that material which falls between
        the Measured radius and the radius defined by the range of the second
        spherical variogram structure. The Inferred category is that material
        between the Indicated maximum radius and a radius defined as 1.5 times
        the range of the second variogram structure. SRK considers the grade
        estimation for Pamour to be of good quality with appropriate
        classification assignments. SRK considers the Mineral Resources to be
        sufficiently well defined to derive Mineral Reserves.

        Mineral Reserves are classified under the Proven and Probable Reserves
        categories in accordance with CIM definitions. Proven Mineral Reserves
        correspond to the Measured Mineral Resources above mining cutoff that
        are located within the optimized pit limits. Probable Mineral Reserves
        are the portion of the Indicated Mineral Resources above the mining
        cutoff and located within the optimized pit limits.

4.2.9   MINERAL RESOURCE & MINERAL RESERVE STATEMENT

        Table 4.2.5 presents the Mineral Reserves as of December 31, 2002, for
        the Pamour Project. The Mineral Resource numbers represent the
        difference between the Mineral Reserves at a gold price of US$325/oz and
        the Mineral Reserves at a gold price of US$300/oz. As such SRK regards
        the Resource to be somewhat conservative due to the fact that the stated
        measured and indicated resources have undergone a significantly greater
        technical demonstration of mineability than is required.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 51
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>

TABLE 4.2.5: MINERAL RESOURCES & MINERAL RESERVES, PAMOUR PROJECT, DEC. 31, 2002

======================================================================================================
                                 MEASURED                 INDICATED                   MEASURED &
                                                                                      INDICATED
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
<S>                    <C>     <C>     <C>       <C>      <C>     <C>       <C>      <C>     <C>
Pamour                   178   0.88      4,000    2,318   1.06     79,000    2,495   1.05     83,000
Kinross Share             87   0.88      2,000    1,136   1.06     39,000    1,223   1.05     41,000
(49%)
======================================================================================================


======================================================================================================
                               PROVEN                    PROBABLE                TOTAL PROVEN &
                                                                                    PROBABLE
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
Pamour                 5,053   1.42    230,000   31,065   1.38  1,376,000   36,118   1.38  1,606,000
Kinross Share (49%)    2,476   1.42    113,000   15,222   1.38    674,000   17,698   1.38    787,000
------------------------------------------------------------------------------------------------------
Reserves stated at Resources are based upon full technical-economic design Resources are exclusive of
US$300/oz. at US$325/oz. reserves.
</TABLE>

4.3     HOYLE POND MINE

4.3.1   INTRODUCTION

        Mine personnel have completed the estimation of Mineral Resources for
        the Hoyle Pond underground operation. In general, the Mineral Resource
        estimation is based on data derived from diamond drilling and chip
        sampling. SRK has not recalculated the Mineral Resources estimate, we
        however, have checked the methodology and calculations.

4.3.2   DATA

        The drillhole database contains more than 7,000 holes, most of which
        have been drilled from underground. The extensive underground
        development has provided an excellent drilling base for exploration and
        Mineral Resources delineation drilling. BQ or equivalent core size is
        used in the mine area. Hole length varies from several tens to a few
        hundred meters. Collar locations and drillhole deviations were measured
        by survey and included in the database.

        For Mineral Resource estimation purpose, drill holes are planned at
        spacings of from 15m x 20m up to 25m x 25m. All drill core is logged for
        rock type, structure, alteration characteristics, ore minerals and RQD.
        Core recovery is nearly 100% and the rock quality is good. Wall rock is
        only sampled where mineralization is present.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 52
--------------------------------------------------------------------------------

        The sample length is typically of 1.5m but may be adjusted to the width
        of narrower mineralization and geological contacts. Under these
        conditions, the sampling length is reduced to intervals ranging between
        0.6m to 1.0m. Mineralized zones and adjacent wallrock are sampled to
        ensure full coverage of the potential pay zone. At the exploration stage
        samples are split and half of the core is bagged, tagged and sent to the
        assay laboratory. The other half of the core is retained for additional
        examination and testing. In the infill programs (i.e. for estimation of
        Measured & Indicated Resources) the entire core is sampled and shipped
        to the assay laboratory. This is not unusual with the narrower diameter
        cores used in underground drilling, where the benefit of analyzing a
        more representative sample (due to larger sample size) is of greater
        value than the loss of the retained core half for examination or other
        testing.

        Chip samples are collected in development headings and stopes to
        estimate the as-mined grade and for Mineral Reserve estimation. Since
        mineralized zones are typically narrow, the whole face or back is
        divided in different lengths representing the high grade, low grade and
        wallrock portions. Each unit is individually sampled. Sample lengths
        vary from 20cm to 100cm. Samples are bagged, tagged and sent to the
        assay laboratory for gold content determination. To be more
        representative, samples are not collected along a single line across the
        face but composited over the whole sampling interval. Each round is
        sampled, corresponding to approximately 20t of material.

        Industry-standard sampling procedures are well understood by the geology
        personnel responsible for sampling. Prior to July 2002, there was no QA
        / QC program in place, however, since then a number of duplicate samples
        have been collected and shipped to the assay laboratory for gold content
        analyses. The results of this check program were not available at the
        time of SRK's visit.

        Over the past year, samples were assayed at the Kinross in-house (Bell
        Creek) laboratory and at an external laboratory (Swastika). Following
        the formation of the Porcupine Joint Venture, the Dome Mine Assay Lab
        became the primary laboratory for all the operations and exploration
        projects. Exploration samples are also sent to X-Ral Laboratories in
        Rouyn-Noranda for analysis. In-house QA / QC procedures mainly consist
        of the insertion of blanks, CRM and in-house standards in each assay
        batch. In addition, duplicates are run on a regular basis.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 53
--------------------------------------------------------------------------------

        The Dome Mine Assay Laboratory has been recently audited for ISO
        certification and was successful. Sample preparation, analysis
        protocols, and the QA/QC program are well documented.

        Samples are prepared at the laboratory as follows. Core, chip and muck
        samples are crushed to -10mesh and split to a 400g sample. The 400g
        sample is pulverized to 95% passing 200mesh. Thirty grams of the
        resulting pulp is weighed and fire assayed. Gold content is determined
        by AA analytical methods. The remainder of the pulp is retained at the
        laboratory.

        As a quality control check, each assay tray contains one blank, one
        in-house standard and one CRM. Control sample results are checked
        against a previously determined limit of acceptability. If the results
        exceed these limits, the samples are re-assayed. Assay results are
        recorded on spreadsheets and electronically transmitted to the geology
        department. A copy of all records is kept at the lab.

4.3.3   MINERAL RESOURCE ESTIMATION

        Until recently the Hoyle Pond mine used a modified polygonal-sectional
        method using drill and chip sample intercepts to determine the grade of
        each polygonal block throughout the mine. As of the end of 2002, a
        3-dimensional ("3-D") block model technique was introduced for the
        deeper levels of the mine below 760-level. This area represents only 4%
        of the Mineral Reserves, but a greater proportion of Mineral Resources.

        For the polygonal method, all information is projected on to vertical
        longitudinal sections. In areas where only drill holes are present,
        block boundaries are defined by manual polygonal estimation methods.
        Drill hole intercepts are derived from the sample interval and weighted
        by length. Mineralized intercepts that are shorter than the minimum
        mining width are diluted to the mining width. A zone-specific bulk
        density is applied to determine the mass of each block. The average
        resource grade is calculated as the mass-weighted average of the
        polygons included in the resource block.

        In areas where drill holes and development or stoping are present,
        Mineral Resources are estimated using both chip samples and drill hole
        data. The mineralized zones are split in sections. Chip samples are
        composited over the width of the section to represent one single value
        that is reported on the longitudinal section. The average

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 54
--------------------------------------------------------------------------------

        grade and mass of each section is calculated and then tabulated to
        estimate the grade of the mineralized block.

        As mentioned above, a block modeling technique was implemented in 2002
        to estimate the Mineral Resources and Mineral Reserves of the narrow
        (0.5m) "B" veins and "UP" vein located below the 760-level. Statistical
        analysis of the drill holes located in the area and above the 760-level
        was carried out to determine the estimation parameters to be used. Assay
        capping and search ellipse values are similar to those used in the
        polygonal technique. A block size of 5m x 5m x 5m with sub-blocking to
        0.5m was selected to best fit the narrow mineralization. Block grades
        were estimated using Ordinary Kriging interpolation. To limit the
        influence of high-grade samples, assays grading more than 20g/t were
        limited to 50% of the reduced search ellipse or 0.375 times the range
        from the variogram models. As a validation tool, mine personnel compared
        block model sections to drill hole sections. The results were judged to
        be satisfactory.

<TABLE>
<CAPTION>
<S>                                                                           <C>

TABLE 4.3.1: MINERAL RESOURCE ESTIMATION PARAMETERS

==========================================================================================================
ASSAY CAPPING                                         DETERMINED USING 95TH PERCENTILE
----------------------------------------------------------------------------------------------------------
                          1060 Zone                               100g/t
                          Others                                  200g/t

Minimum Mining Width      1.2 m                                   Cut & fill, Shrinkage
                          1.8m                                    Long hole, panel mining
Rock Mass Density         1060 Zone                               2.8t/m3
                          Others                                  2.68t/m3
Interpolation Method      Modified Polygonal and sectional
                          method
                          3D Block model below 760 level
Mineral Resources         Measured                                Projection to 5m max from
Classification                                                    development
                          Indicated                               Projection from 5m to 25m from
                                                                  development but generally limited
                                                                  to a 10 m distance.

                          Inferred                                Projection to 25m max from drill
                                                                  hole or search ellipsoid of 25m for
                                                                  block model
==========================================================================================================
</TABLE>

4.3.4   CONVERSION OF MINERAL RESOURCES TO MINERAL RESERVES

        Based on CIM definitions, Measured and Indicated Mineral Resources have
        been converted to Proven and Probable Mineral Reserves by applying
        appropriate mining factors such as dilution and mining recovery factors.
        Each proposed mining block is

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 55
--------------------------------------------------------------------------------

        validated by a detailed economic analysis. After determination of the
        appropriate mining method, the block is diluted and the gross revenues
        are calculated. The operating cost including development; stoping;
        process; and administrative costs are calculated and compared against
        the gross revenue. Each block demonstrating a positive cash flow is
        transferred to the appropriate Mineral Reserve category and subtracted
        from the Mineral Resources. The new Mineral Reserve block is
        incorporated into the LoM plan. The Table 4.3.2 below shows the
        different parameters used in the Mineral Reserves estimation process.

<TABLE>
<CAPTION>
<S>                                                                           <C>

TABLE 4.3.2: MINERAL RESERVES ESTIMATION PARAMETERS

================================================================================================
Gold Price                 US$300/oz
Exch. Rate                       1.5

Mining method              Long Hole    Cut & Fill    Shrinkage      Panel     Mech. C&F
Cut off Grade g/t                6.1           7.8          6.4        6.3           5.6
Mining Dilution                  30%           10%          10%        10%           20%

Dilution grade             1060 Zone       HP Zone         7 VN     Others
                             0.8 g/t       0.6 g/t      0.8 g/t    0.8 g/t

Process Recovery                Based on tailing grade estimate for each zone

Mineralized Zones            HP Zone          7 VN          B1          B3         Porph
Tailing grade                0.3 g/t       0.5 g/t       1.5 g/t    3.0 g/t      1.0 g/t

Mineral Reserves              Proven       Projection to 5m max from development
Classification                             Mining block developed on 3 sides
                              Probable     Projection to 25m max from development or drill hole
                                           but generally limited to a 10m distance.
                                           Mining block partly or not developed
================================================================================================
</TABLE>

4.3.4.1 MINING METHOD

        Mining methods used are cut and fill, shrinkage, panel and longhole
        methods. The percentage of ore production by mining method for 2003 is
        34% longhole, 31% cut and fill, and 23% shrinkage. The balance of
        production is made up by other development such as drifting (7%) and
        raising (2%).

4.3.4.2 RECONCILIATION

        The responsible geologist, who maps and samples the working face or
        back, visits stopes daily. Chip sampling is used to determine the ore
        production grade and to

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 56
--------------------------------------------------------------------------------

        estimate the Mineral Reserves or Resources. To estimate the daily
        production grade, muck samples are collected in addition to the chip
        samples. For development headings, cut & fill and panel-mining stopes,
        the mined grade is estimated using primarily chip samples or a
        combination of chip and muck samples. For the shrinkage and longhole
        stopes, daily grade is estimated from the muck samples. The frequency of
        muck samples taken is of 1 sample per 20 tonnes. For 2002, the
        production estimates of tonnage and grade of ore shipped to the mill
        agreed very closely with the mill figures. The production estimate was
        472kt grading 12.0g/t Au and the mill reported receiving 444kt, grading
        11.9g/t. This represents a discrepancy of 6% for tonnage and 1% for the
        grade.

TABLE 4.3.3: MINE PRODUCTION VS. ORE MILLED COMPARISON (100% SHARE BASE)

  ===================================== =====================================
               PRODUCTION                              MILLING
  ===================================== =====================================
    K TONNES      AU G/T       GOLD KG    K TONNES      AU G/T       GOLD KG
  ------------------------------------- -------------------------------------
         472        12.0         5,643         444        11.9         5,278
                                               94%         99%           94%
  ===================================== =====================================

        Mineral Reserve blocks are compared to production and milled figures on
        an annual basis. In 2002, the milled tonnage was 50% higher than the
        Mineral Reserves figures, while the grade was 15% lower. There was a net
        increase in gold content of 128% reported by the mine and mill above
        that estimated in Mineral Reserves.

TABLE 4.3.4: MINERAL RESERVES VS. MILLING COMPARISON. (100% SHARE BASE)

  ===================================== =====================================
               PRODUCTION                              MILLING
  ===================================== =====================================
    K TONNES      AU G/T       GOLD KG    K TONNES      AU G/T       GOLD KG
  ------------------------------------- -------------------------------------

         296        14.0         4,136         444        11.9         5,278
                                              150%         85%          128%
  ===================================== =====================================

        The difference in the milling tonnage is explained in part by the
        presence of numerous small ore shoots found in the vicinity of the main
        ores zones, but which are usually too small to be identified by
        drilling. When encountered, these shoots are typically mined if the
        internal waste does not render their extraction uneconomic. The very
        large additional material (148t @ 7.7g/t) includes both the additional
        ore found and the waste necessary to be mined with it as dilution. SRK
        notes that a significant component of resource not in reserve was mined
        as ore, which brings the results into a closer correspondence.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 57
--------------------------------------------------------------------------------

4.3.5   MINE PLAN

        The Hoyle Pond underground LoM plan runs through 2009 for a mine life of
        7 years. At an average production rate of 1,216tpd, the mine produces
        over 444,000tpy at an average grade of 10.43g/t Au, and an average
        process recovery of 88%.

4.3.6   MINERAL RESOURCE AND MINERAL RESERVE CLASSIFICATION

        Mineral Resources are classified under the categories Measured,
        Indicated and Inferred Mineral Resources as per CIM definitions.
        Classification of the resources reflects the relative confidence in the
        grade estimates, primarily as a function of sample spacing relative to
        geological and geostatistical observations made regarding the continuity
        of mineralization.

        At Hoyle Pond, Measured category material is that estimated within 5m of
        actual development. Indicated category material is that which falls
        between 5m and 25m from development but is generally limited to a 10m
        distance while Inferred category material is that between 10m and 25m
        from development.

        Below the 760-level, where Mineral Resources have been estimated using
        block-modeling techniques there are no Measured Mineral Resources.
        Indicated Mineral Resources consist of blocks estimated using a search
        ellipsoid of 0.75 of the variogram structure while the Inferred category
        is estimated using a search ellipsoid of 1.25 times the variogram
        structure. SRK considers the grade estimation to be of good quality and
        the classification methods applied to be appropriate, and that the
        Mineral Resources are sufficiently well defined to derive Mineral
        Reserves.

        Mineral Reserves are classified into Proven and Probable Reserves
        categories. Proven material corresponds to the economic portion of the
        Measured Mineral Resources. Probable Mineral Reserves are the economic
        portion of the Indicated Mineral Resources. SRK notes that detailed
        economic analysis is carried out for each proposed mining block before
        conversion to a Reserve category.

4.3.7   MINERAL RESOURCE AND MINERAL RESERVE STATEMENT

        Table 4.3.5 presents the Mineral Reserves as of December 31, 2002, for
        the Hoyle Pond portion of the PJV Project. The Mineral Resource numbers
        represent the difference between the Mineral Reserves at a gold price of
        US$325/oz and the Mineral Reserves at a gold price of US$300/oz. As such
        SRK regards the Resource to be

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 58
--------------------------------------------------------------------------------

        somewhat conservative due to the fact that the material in question has
        undergone a significantly greater technical demonstration of mineability
        than is typical.

<TABLE>
<CAPTION>

TABLE 4.3.5: MINERAL RESOURCES & MINERAL RESERVES, HOYLE POND MINE, DEC. 31, 2002

======================================================================================================
                                 MEASURED                 INDICATED                   MEASURED &
                                                                                      INDICATED
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
<S>                    <C>     <C>     <C>       <C>      <C>     <C>       <C>      <C>     <C>
Hoyle Pond                43   8.68     12,000       78   6.78     17,000      121   7.45     29,000
Kinross Share (49%)       21   8.68     6,000        38   6.78      8,000       59   7.45     14,000
======================================================================================================

======================================================================================================
                               PROVEN                    PROBABLE                TOTAL PROVEN &
                                                                                    PROBABLE
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
Hoyle Pond (u/g)         328  12.99    137,000      560  12.44    224,000      888  12.64    361,000
Kinross Share (49%)      161  12.99    67,000       274  12.44    110,000      435  12.64    177,000
======================================================================================================

Reserves stated at US$300/oz. Resources are based upon full technical-economic design at US$325/oz.
Resources are exclusive of reserves.
</TABLE>

4.3.8   MINERAL RESERVE HISTORIC AND RECONCILIATION

        Figure 4.2 shows the history of the Mineral Reserves and cumulative gold
        production since the mine's inception in 1985. This graph shows very
        aggressive estimates for the period between 1996 and 1999, but that more
        recent estimates conform better to the first 10 years. In 2000, the
        Possible Reserve category was abandoned and this is also reflected in
        the graph.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 59
--------------------------------------------------------------------------------


    FIGURE 4.2:  HISTORIC PRODUCTION AND MINERAL RESERVES

*Based on 100% share of Mineral Reserve and annual production






                                   [PICTURE]





TABLE 4.3.6: MINERAL RESERVES COMPARISON 2002 VS 2001

================================================================================
                                     RESERVES        AU        CONT `D GOLD OZ
                                         (KT)       G/T                   (000)
--------------------------------------------------------------------------------
Mineral     Reserves Dec.                888       12.6                    361
2002

Mineral     Reserves Dec.                921       13.8                    407
2001

Difference                               -33       -1.2                    -46

Year 2002 Production                     444       11.9                    169
GAIN / LOSSES                            411                               123
================================================================================

        Table 4.3.6 shows that a net gain is present in the Mineral Reserves
        (2002 production plus 2002 reserves estimated). The main contributing
        factors are:

          o    A substantial gain in 2002 production above the 2001 estimate;

          o    Development of an additional mining block below the 760 level;
               and

          o    Conversion of Mineral Resources to Mineral Reserves from
               additional drilling and development sampling.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 60
--------------------------------------------------------------------------------

4.4     DOME MINE

4.4.1   INTRODUCTION

        The Dome Mine has been in operation since 1910 and currently consists of
        an underground operation at depth, and a more recent open pit. Mineral
        Resources and Mineral Reserves are estimated for both areas using
        different data and methodology.

4.4.2   DATA

        The drill holes used for the model were drilled between 1910 and 1998,
        from both surface and underground. The holes are of mixed size; ranging
        from EXT (23mm) to NQ. All modern surface holes are drilled at the NQ
        size, and all current underground holes are drilled at the AQTK (approx.
        BQ) size. Generally, the entire drill core was sampled for assay, rather
        than split, with a nominal sample interval of 1.5m, except where
        relevant geological distinctions could be made. All surface holes
        drilled after 1980 were surveyed at the collar and at downhole intervals
        using a Tropari or Sperry Sun single shot bore hole camera. The drilling
        density varies significantly, but is generally 27m. The database
        underwent rigorous data cleaning exercises during the recent feasibility
        study and current data collection routines maintain the data at a
        feasibility level state.

        Only chip sample data taken since 1989 are used in the database
        currently due to poor-quality sampling procedures used prior to this
        date. These samples have been subdivided by veining, alteration, and
        lithology and are mainly stored as AutoCAD drawings. More recently, chip
        sample data has been collected and stored in a SMS database.

        Historical muck sample data is recorded on linens stored in the Dome
        vault. This data is only used to evaluate the grade of ankerite veins
        and select quartz veins. These narrow veins lack diamond drill data and
        have been defined only through underground development. Only muck sample
        data is used on these veins due to the poor quality of the pre 1989 chip
        data. Since much of the development sampled consisted of level drifting
        at 2.7m widths, as opposed to mining widths of 1.8m, the muck data is
        considered to be conservative, as it includes a higher proportion of
        diluting wall rock.

        Assay analysis is done on site, with the whole core sample being
        pulverized to -100mesh before splitting. All samples are currently
        assayed using fire assay with an

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 61
--------------------------------------------------------------------------------

        AA finish. The historical data was analyzed by variety of methods,
        however drill core has always been fire assayed. Chip and muck samples
        are crushed to -10 mesh then split down to 400g sample. The 400g sample
        is pulverized to 95% passing 200mesh. A 30g pulp is weighted and
        fire-assayed.

4.4.3   MINERAL RESOURCE ESTIMATION

        Mine personnel have completed the estimation of Mineral Resources for
        the Dome Mine Operation. For the underground operation, the Mineral
        Resource estimation process is based on data derived from underground
        drilling, chip and muck sampling. For the Open Pit, only surface and
        underground drill holes are used.

        SRK has not recalculated Mineral Resource estimates for both operations.
        SRK has, however, undertaken sufficient verifications and calculations
        to assess the quality of Mineral Resources estimate.

4.4.3.1 UNDERGROUND OPERATION

        Resource estimation methods for the Dome Mine can be divided into manual
        and computer-based methods. The computer-based estimations are conducted
        using MAPTEK Vulcan software.

        Manual methods are used in the estimation of discrete vein sets, defined
        primarily by development, and includes ankerite veins and veins that are
        predominantly quartz. This includes most narrow-vein and cut and fill
        Mineral Resources. The data used in these areas consists of historical
        muck samples, prior to 1989, and recent chip and muck samples for active
        stopes.

        Allowance for a minimum mining width of 1.8m and for upper and lower
        sill pillars (where required) is included in the Mineral Resources
        estimate. The trimming limit employed for manual estimates is 17.1g/t
        Au, with a limit of 34.3g/t Au being used in select high-grade veins.
        The tonnage factor used in manual calculations is 2.82t/m3.

        Computer assisted estimation methods are used primarily for the
        evaluation of Mineral Resources recoverable through bulk mining/long
        hole mining methods and vary by mineralized zone size and geometry.
        Larger zones (above 36,000t) are estimated in a 3-D block model with
        Ordinary Kriging. In addition nearest neighbor and polygonal estimates
        are also completed to serve as a comparison. For smaller or narrow

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 62
--------------------------------------------------------------------------------

        mineralization (less than 8m) a de-clustered average of drill hole
        composites within the mineralized envelope is used. This approach is
        also used to estimate Inferred Mineral Resources where data density is
        low.

        For estimates done by block modeling methods, a mineralized envelope is
        defined, based on lithology, vein geometry and morphology, and
        independent of apparent cutoff grades. The block models are constructed
        using three-metre blocks (3m x 3m x 3m) within the mineralized
        envelopes. Larger blocks are used outside the mineralized envelopes to
        reduce total model size. Blocks may be sub-blocked to 1.5m x 1.5 x 1.5m
        at zone boundaries and void edges. Blocks within voids have their grades
        set to zero and their densities adjusted to reflect whether they are
        empty or filled. A density of 2.79 tm /m3 is used for rock and 1.54tm/m3
        is used for hydraulically filled voids.

        Block grades are estimated using 1.5m long drill hole composites that
        are constrained by the geologically defined hard boundaries (mineralized
        envelopes) of the zones. The trimming limit is evaluated statistically
        for each zone using 1.5-m diamond drill hole assay composites within the
        zone. The trimming grade is selected by evaluating the population
        distribution of the drill hole composites through a combination of
        probability plots, coefficient of variation plots, and the percentage of
        contained metal in sample ranges. Mineral Resources are defined from the
        resulting block model through the creation of solids based on a nominal
        2.6g/t Au grade shell modified to reflect the interpreted continuity.

        For mineralization evaluated through an average of drill hole
        composites, a mineralized envelope is created using lithology, vein
        geometry, morphology and drill hole assays as a guide. Trimming limits,
        density, drill hole compositing etc. are established as for the
        block-modeled zones. Grade is then determined as the average of the
        poly-declustered drill hole composites within the resource envelope.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 63
--------------------------------------------------------------------------------

TABLE 4.4.1: MINERAL RESOURCE & RESERVE ESTIMATION PARAMETERS

================================================================================
Gold Price                             US$300 /oz
Exch. Rate                                       1.50 1US$/1CN$
Drill hole spacing           9 - 18 m        Nominal 9m spacing attempted
Avg. Assay interval          1.5 m
Core sampling                Whole core

Assay Capping                Determined using break on probability plot

                             Estimate        17.1 g/t

                             H-G Stopes      34.3 g/t

Minimum Mining Width         1.2 m           Cut & fill, Longhole
Rock mass Density                            2.82 t/m3
Interpolation Method         De-clustered average of drill hole composites
                             within the mineralized envelope 3D Block model for
                             mineralized zone larger than 36,000 tonnes

Mineral Resources            Extrapolated from development using the following
Classification               distances

                                             Quartz Veins      Ankerite Veins
                                             From     To       From     To
                             Measured        0        12.2     0        24.4 m
                             Indicated       12.2     24.4     24.4     48.8 m
                             Inferred        24.4     36.6     48.8     73.2 m

MINERAL RESERVES

                             Long Hole       Cut & Fill

Cut off Grade g/t              2.1           6.6    Dependent on dip of ore
Mining Dilution              15%-40%         5%     Dependent on whether manual
                                                    or geostat estimate
Dilution grade               0.86g/t
Mining recovery                95%

Process Recovery             Long Hole  Cut & Fill   O_PIT

                               91.6%       92.8%     87.8%
Mineral Reserves             Extrapolated from development using the following
Classification               distances

                                             Quartz Veins      Ankerite Veins
                                             From     To       From     To
                             Proven          0        12.2     0        24.4 m
                             Probable        12.2     24.4     24.4     48.8 m
================================================================================

4.4.3.2 OPEN PIT OPERATION

        The estimation approach used for the open pit mine is similar to the 3-D
        block modeling approach used in the underground. The block grade model
        used in 2002 for the Mineral Resources was developed in 1998 by Dome
        Mine personnel. Lithologies

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 64
--------------------------------------------------------------------------------

        and/or mineralization domains are treated as hard boundaries, i.e.
        blocks within each domain were only allowed to use composites from that
        domain. The block size selected for the model is 9m x 9m horizontally
        and 4.5m in the vertical direction. Grade is interpolated using Multiple
        Indicator Kriging. Variogram models are defined for each lithology
        and/or mineralized zone.

4.4.4   CONVERSION OF MINERAL RESOURCES TO MINERAL RESERVES

        Measured and Indicated Mineral Resources are converted to Proven and
        Probable Mineral Reserves respectively, by applying appropriate
        modifying factors including dilution and recovery factors. The modifying
        factors used to convert the Mineral Resources to Mineral Reserves have
        been reviewed by SRK and are considered to be reasonable.

4.4.4.1 UNDERGROUND OPERATION

        In order for the Mineral Resource to be included into the Mineral
        Reserve, it must meet the economic criteria of having a positive cash
        flow at a $US300/oz gold price at an exchange rate of US$1.00/CDN$1.50.
        Mining dilution, mining recovery and mill recovery factors are all
        accounted for in the cash flow analysis.

        The block models generated in Vulcan are evaluated using Vulcan software
        design tools. Detailed engineering design involves the creation of
        mining shapes that take into account the grade distribution of the block
        model, cut off grades, development requirements, ground stability,
        equipment selection, safety, mining dilution and mining recovery.
        Normally, several mining options using different mining shapes are
        economically evaluated to optimize the stope's cash flow.

        For zones lacking a block model, the Mine Planner uses the geological
        solid model to create a mining shape. Several mining shapes may be
        created for a single geological model. This results in different mining
        scenarios that are evaluated with varying development requirements, ore
        handling methods, ground stability, mining dilution and mining recovery.
        Once the mining shape options have been designed they are returned to
        Geology and their grade and tonnage are re-estimated to properly compare
        the mining option's economics.


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 65
--------------------------------------------------------------------------------

4.4.4.2 OPEN PIT OPERATION

        For the open pit operation, Indicated Mineral Resources grading above
        the cut-off grade and located within the optimized pit limits are
        converted to Probable Mineral Reserves. The cut-off grade is determined
        using historically based production costs, mining and milling recoveries
        and a long-term gold price of $US300/oz. In the actual pit, Mineral
        Reserves are not factored for dilution nor mining recovery apart from
        compositing prior to grade estimation.

4.4.4.3 CUTOFF GRADE

        A cutoff grade is determined for each mining method. All costs, recovery
        factors, dilution and revenue are taken into consideration in
        calculating the cutoff grades. The calculated cutoff grades are as
        follows:

================================================================================
                                                              OPEN PIT
                         LONG HOLE      CUT & FILL     LOW GRADE     HIGH GRADE
--------------------------------------------------------------------------------
Cutoff Grade g/t               2.1             6.6           .69           1.04
================================================================================

4.4.4.4 RECONCILIATION AND GRADE CONTROL

        In the Underground Operation, the responsible geologist who maps and
        samples the working face or back visits stopes daily. Chip samples are
        used to determine the ore production grade and to estimate the Mineral
        Reserves or Resources. The daily production grade estimate uses both
        chip and muck samples.

        For development headings and cut & fill stopes, the mined grade is
        estimated using chip samples or a combination of chip and muck samples,
        while the daily grade of the longhole stopes is estimated using the muck
        samples. Table 4.4.2 shows the comparison between the Mineral Reserve
        Estimate vs. Mill Results and Production Estimate for 2002.

TABLE 4.4.2: MINERAL RESERVES, PRODUCTION & MILL RESULTS COMPARISON
UNDERGROUND

================================================================================
            MEASURED                 INDICATED                   MEASURED &
                                                                 INDICATED
--------------------------------------------------------------------------------
     KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
           G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
--------------------------------------------------------------------------------
    178   0.88      4,000    2,318   1.06     79,000    2,495   1.05     83,000

    749    4.8      3,617      754    4.7      3,545      754    4.6      3,439
Compared to Mineral Reserves  101%    97%        98%     101%    94%        95%

                             Compared to Production      100%    97%        97%
================================================================================
Note: 100% Base share

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 66
--------------------------------------------------------------------------------

        The tonnage is well estimated and within 1% of the mill results. Mill
        grade is 0.2g/t lower than the Mineral Reserves grade of 4.8g/t and
        0.1g/t lower than the estimate of the production grade. The
        reconciliation results are very good and support the estimation methods
        used.

        Grade control in the Open Pit is done using blast hole sampling. In ore,
        blastholes are drilled on spacing of 5m x 5m. A production block model
        derived from blasthole assays is created for each bench using 2.3m x
        2.3m x 9m-vert. blocks. Assay results are kriged and the geology
        department outlines ore blocks.

        Reconciliations are carried out on a monthly basis and compiled
        annually. Ore is not always sent directly to the mill, and normally a
        large proportion of the production goes to stockpile, which is then
        reclaimed as required. For this reason, Mineral Reserves cannot be
        directly compared to the Mill reported tonnes and grade over short
        production periods.

TABLE 4.4.3: MINERAL RESERVES & PRODUCTION COMPARISON - DOME OPEN PIT

================================================================================
            MINERAL RESERVES                   PRODUCTION ESTIMATE

        KT     AU G/T      GOLD KG          KT     AU G/T      GOLD KG
--------------------------------------------------------------------------------
     2,920       1.64        4,790       3,618       1.61        5,828
                                          124%        98%         122%
================================================================================

        Table 4.4.3 shows the comparison between Mineral Reserves and production
        estimates for 2002. Production tonnage is 24% above Mineral Reserves
        estimate and grade is 2% lower. There is a net gain in gold content of
        22%. When compared to the mill results, production grade (Pit and
        Stockpile) is 2% above mill figures (see Table 4.4.4 below). This
        suggests a slight overestimation of the production grade for the
        high-grade portion of the ore, which may be attributable to mining
        dilution. However, since low-grade material is mainly stockpiled, it is
        difficult to draw definitive conclusions regarding a possible bias.

TABLE 4.4.4:          MILL FEED ESTIMATE & MILL RESULTS COMPARISON

================================================================================
            MINERAL RESERVES                   PRODUCTION ESTIMATE

        KT     AU G/T      GOLD KG          KT     AU G/T      GOLD KG
--------------------------------------------------------------------------------
     2,848       1.87        5,338       2,855       1.84        5,254
                                          100%        98%          98%
================================================================================

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 67
--------------------------------------------------------------------------------

        The reconciliation figures above show a net gain in tonnage with a
        slight decrease in grade. This relationship has occurred for the last
        several years and 2003 will probably be similar.

4.4.5   MINING METHOD

        Mining is predominantly by modified longhole methods that will provide
        97% of the tonnes produced in 2003. The balance of production is
        comprised of cut and fill mining (1%) and development (2%).

4.4.6   MINERAL RESOURCE AND MINERAL RESERVE CLASSIFICATION

        Mineral Resources are classified under the categories Measured,
        Indicated and Inferred Mineral Resources as per CIM definitions.
        Classification of the resources reflects the relative confidence in the
        grade estimates, primarily as a function of sample spacing relative to
        geological and geostatistical observations made regarding the continuity
        of mineralization.

        For the underground operation, the manually estimated Mineral Resources
        are classified as Measured, Indicated and Inferred Mineral Resources
        based on geological continuity and mining experience using the following
        distances:

    ============================================================================
      VEIN TYPE                  MEASURED          INDICATED        INFERRED
      Ankerite                      24 m            24- 49 m        49- 73 m
      Quartz                        12 m            12- 24 m        24- 37 m
    ============================================================================

        Block modeled resources for the underground operation are classified as
        Indicated Mineral Resources based on search ellipsoid equal to the range
        of the second variogram structure.

        For the open pit model, after comparative work, a kriging variance of
        1.12 was chosen as the threshold to separate Indicated Mineral Resources
        from Inferred Mineral Resources. There are no Measured Mineral Resources
        within the current pit limits. Inferred Mineral Resources are identified
        as those resources with a kriging variance greater than 1.12, within an
        optimistic pit resource shell increment. For the underground operations
        SRK regards the Mineral Resources estimates to be of good quality as
        demonstrated by the reconciliation results. For the open pit Mineral
        Resources estimate SRK regards the grade estimates to be of good quality
        but the tonnage estimates appear to be underestimated. SRK regards the
        classification of the

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 68
--------------------------------------------------------------------------------

        Mineral Resources to be appropriate as applied for both the open pit and
        the underground operation and sufficient to derive Mineral Reserves.

        Mineral Reserves are classified under the Proven and Probable Reserves
        categories. Proven material corresponds to the portion of the Measured
        Mineral Resources demonstrated to be technically and economically
        feasible to extract. Probable Mineral Reserves represents the portion of
        the Indicated Mineral Resources technically and economically feasible to
        extract. In the underground operation, detailed economic analysis is
        carried out for each proposed mining block. In the open pit, Probable
        Mineral Reserves blocks consist of blocks above the mining cutoff grade
        and located within an optimized pit limits. Proven Mineral Reserves is
        limited to only that material contained within the surface low-grade
        stockpile.

4.4.7   MINERAL RESOURCE AND MINERAL RESERVE STATEMENT

        Table 4.4.5 presents the Mineral Reserves as of December 31, 2002, for
        the Dome Mine portion of the PJV Project. The Mineral Resource numbers
        represent the difference between the Mineral Reserves at a gold price of
        US$325/oz and the Mineral Reserves at a gold price of US$300/oz. As such
        SRK regards the Mineral Resource statement to be somewhat conservative
        due to the fact that the material in question has undergone a
        significantly greater technical demonstration of mineability than is
        usual.

<TABLE>
<CAPTION>

TABLE 4.4.5: MINERAL RESOURCES & MINERAL RESERVES, DOME MINE, DEC. 31, 2002

======================================================================================================
                                 MEASURED                 INDICATED                   MEASURED &
                                                                                      INDICATED
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
<S>                    <C>     <C>     <C>       <C>      <C>     <C>       <C>      <C>     <C>
Dome                       0    0.0          0    9,235   1.72    510,000    9,235   1.72    510,000
Kinross Share (49%)        0    0.0          0    4,525   1.72    250,000    4,525   1.72    250,000
======================================================================================================

======================================================================================================
                               PROVEN                    PROBABLE                TOTAL PROVEN &
                                                                                    PROBABLE
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
Dome Total            10,935   1.03    361,000   10,936   2.00    702,000   21,871   1.51  1,063,000
Kinross Share (49%)    5,358   1.03    177,000    5,359   2.00    344,000   10,717   1.51    521,000
======================================================================================================
Reserves stated at Resources are based upon full technical-economic design at US$325/oz. Resources are
exclusive of reserves.
</TABLE>

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 69
--------------------------------------------------------------------------------

4.4.7.1 MINERAL RESERVES COMPARISON DEC. 2002 VS. 2001

        The comparison of year-end Mineral Reserves shows that there is a slight
        increase of gold ounces at the end of 2002.

TABLE 4.4.6: MINERAL RESERVES COMPARISON 2002 VS. 2001

================================================================================
                                              KT        AU G/T       GOLD K OZ
--------------------------------------------------------------------------------
Mineral Reserves Dec. 2002                21,871           1.5       1,063,100
Mineral Reserves Dec. 2001                25,597           1.6       1,321,400
Difference                                -3,726          -0.1        -258,300
Year 2002 Production                       3,622           2.4         280,200
GAIN / LOSSES                               -104                        21,900
================================================================================
     Based on 100% share

        The open pit is relatively insensitive to downward movements in gold
        price given the short remaining life compared to the total that has been
        mined. A major expansion of the pit along the north pit wall has been
        studied and appears to be economically feasible at a gold price of
        US$325/oz. This expansion represents some 9Mt of Indicated resource
        above the cutoff at an average grade of 1.7 g/t Au. This strong
        indication of a potentially substantial increase in Mineral Reserves
        underscores the need to better understand the reconciliation discrepancy
        on tons found in the operation.

        In the opinion of SRK, that the Mineral Reserves as stated by Kinross
        are robust, and relatively insensitive to marginal changes in cutoff
        grade. This absence of marginal risk is further supported by the fact
        that half of the reported Mineral Reserves is contained in the surface
        stockpile.

4.5     OWL CREEK

        The Owl Creek deposit lies some 2,000m west of the Hoyle Pond area and
        represents the western extension of the deposit at Hoyle Pond. The
        geologic characteristics of Owl Creek are the same as those described
        for the Hoyle Pond deposit.

        Kinross have not reported any Mineral Reserve from the Owl Creek Area,
        however, a relatively small portion of the deposit has been identified
        as amenable to open pit mining and demonstrated to be economic at US
        $325/oz Au. Kinross have included this material as Measured and
        Indicated Resources as shown in Table 4.5.1.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 70
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>

TABLE 4.5.1: MINERAL RESOURCES, OWL CREEK DECEMBER 31, 2002

======================================================================================================
                                 MEASURED                 INDICATED                   MEASURED &
                                                                                      INDICATED
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
<S>                    <C>     <C>     <C>       <C>      <C>     <C>       <C>      <C>     <C>
Owl Creek                979   2.67     84,000    1,107   2.28     81,000    2,086   2.46    165,000
Kinross Share (49%)      480   2.67     41,000      542   2.28     40,000    1,022   2.46     81,000
======================================================================================================

        Resources are based upon full technical-economic design at US$325/oz.
</TABLE>

4.6     CONSOLIDATED MINERAL RESOURCES AND MINERAL RESERVES

        The consolidated Mineral Resources for the Porcupine Joint Venture
        (Hoyle Pond, Dome, Pamour and Owl Creek) as of December 31, 2002 are
        shown in Table 4.6.1. The consolidated Mineral Reserves of the Porcupine
        Joint Venture (Hoyle Pond Mine, Dome Mine and the Pamour) at December
        31, 2002, are shown in Table 4.6.2.

<TABLE>
<CAPTION>

TABLE 4.6.1: CONSOLIDATED MINERAL RESOURCES FOR THE PJV (EXCLUSIVE OF RESERVES)

======================================================================================================
                                 MEASURED                 INDICATED                   MEASURED &
                                                                                      INDICATED
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
<S>                    <C>     <C>     <C>       <C>      <C>     <C>       <C>      <C>     <C>
Pamour                   177   0.88      4,000    2,318   1.06     79,000    2,495   1.05     83,000
Kinross Share (49%)       87   0.88      2,000    1,136   1.06     39,000    1,223   1.05     41,000

Hoyle Pond                43   8.68     12,000       78   6.78     17,000      121   7.45     29,000
Kinross Share (49%)       21   8.68      6,000       38   6.78      8,000       59   7.45     14,000

Dome                       0    0.0          0    9,235   1.72    510,000    9,235   1.72    510,000
Kinross Share (49%)        0    0.0          0    4,525   1.72    250,000    4,525   1.72    250,000

Owl Creek                979   2.67     84,000    1,107   2.28     81,000    2,086   2.46    165,000
Kinross Share (49%)      480   2.67     41,000      542   2.28     40,000    1,022   2.46     81,000

------------------------------------------------------------------------------------------------------
TOTAL                  1,199   2.62    100,000   12,738   1.68    687,000   13,937   1.76    788,000
KINROSS SHARE            588   2.62     49,000    6,242   1.68    337,000    6,829   1.76    386,000
(49%)
======================================================================================================

Reserves stated at US$300/oz. Resources are based upon full technical-economic Resources are exclusive of
reserves. design at US$325/oz.
</TABLE>

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 71
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>

  TABLE 4.6.2: CONSOLIDATED MINERAL RESERVES FOR THE PJV

======================================================================================================
                               PROVEN                    PROBABLE                TOTAL PROVEN &
                                                                                    PROBABLE
------------------------------------------------------------------------------------------------------
                          KT     AU  CONTAINED       KT     AU  CONTAINED       KT     AU  CONTAINED
                                G/T      AU OZ             G/T      AU OZ             G/T      AU OZ
------------------------------------------------------------------------------------------------------
<S>                   <C>     <C>     <C>       <C>      <C>    <C>         <C>     <C>    <C>
Pamour                 5,053   1.41    230,000   31,065   1.38  1,376,000   36,119   1.38  1,606,000
Kinross Share (49%)    2,476   1.41    113,000   15,222   1.38    674,000   17,698   1.38    787,000

Hoyle Pond               328  12.99   137,000       560  12.44    224,000      888  12.64    361,000
Kinross Share (49%)      161  12.99    67,000       274  12.44    110,000      435  12.64    177,000

Dome                  10,935   1.03   361,000    10,936   2.00    702,000   21,871   1.51  1,063,000
Kinross Share (49%)    5,358   1.03   177,000     5,359   2.00    344,000   10,717   1.51    521,000
------------------------------------------------------------------------------------------------------
TOTAL                 16,316   1.39   728,000    42,561   1.68  2,302,000   58,878   1.60  3,030,000
KINROSS SHARE (49%)    7,995   1.39   357,000    20,855   1.68  1,128,000   28,850   1.60  1,485,000
======================================================================================================

Reserves stated at US$300/oz. Resources are based upon full technical-economic design at Resources are
exclusive of reserves. US$325/oz.
</TABLE>






--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 72
--------------------------------------------------------------------------------

5.0     MINING

        The mining assets of the Porcupine Joint Venture (PJV) include the
        proposed Pamour open pit operation, the Hoyle Pond underground mine and
        proposed Hoyle Pond Crown Pillar open pit, and the Dome underground and
        open pit mines.

5.1     PAMOUR MINE

        The Pamour deposit was mined between 1936 and 1999, principally as an
        underground operation. Small-scale open pit mining started in 1976 and
        continued until 1999. The deposit is now proposed to be operated as a
        conventional open-pit mine, greatly expanding upon the previously mined
        pit areas.

        Based on the Pamour resource model, using Whittle Four-X software, six
        shells were optimized as per the six-throughput/recovery options
        investigated. The following economic and geotechnical parameters were
        incorporated in the optimization process.

        o  Mining Cost             CDN$1.06/short ton plus CDN$0.01/bench
                                   increment
        o  Non-Mining Cost         Case dependent (CDN$8-CDN$12 per tonne)
        o  Recovery                Dependent on rock type (85%-92.5%)
        o  Gold Price              US$325 per ounce
        o  Exchange Rate           US$1.00=1.5 CDN$1.50
        o  Specific Gravity        Dependent on rock type (~2.8)
        o  Pit Slope               Golder Associates study (inter-ramp angle of
                                   50(degree)-55(degree))

        Case 3, 15,000tpd fine grind combination generated the highest NPV and
        was thus selected as the most favorable option to study further. Based
        on the Case 3 optimized shell a three-phase final design was completed
        to include benches, berms and ramps. Table 5.1.1 summarizes the proven
        and probable reserves contained with the final pit, i.e., the measured
        and indicated resources above the economic cutoff. Cutoff grades vary as
        different recoveries were used for each ore type but the average cutoff
        grade in the aforementioned pit is 0.62g/t. The Pamour LoM open-pit
        design for Case 3 is shown in Figure 5.1.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 73
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
TABLE 5.1.1: PAMOUR PROVEN AND PROBABLE RESERVES IN THE LOM PLAN
================================================ ======================================
                 PROVEN                              PROBABLE
------------------------------------------------ --------------------------------------

      PHASE         KT     AU GRADE       AU OZ             KT    AU GRADE       AU OZ
                              (G/T)       (000)                      (G/T)       (000)
------------------------------------------------ --------------------------------------
<S>       <C>    <C>           <C>           <C>        <C>          <C>         <C>
          1      1,443         1.46          68         10,346       1.38          458
          2      2,879         1.36         126         17,591       1.33          751
          3        909         1.37          40          5,446       1.41          246
      TOTAL      5,231         1.40         235         33,384       1.36        1,455
================================================ ======================================
*$325/oz. Au
</TABLE>

        Additional optimizations were performed at US$300 and US$325 gold
        prices. The resources and reserves at the range of gold prices are
        presented in Table 5.1.2. Reserves at US$300 and US$325 are designed
        pits while reserves at US$350 are estimated within a raw optimized
        shell.

<TABLE>
<CAPTION>
<S>                                                                           <C>
TABLE 5.1.2: PAMOUR RESOURCES AND RESERVES AT VARIOUS AU PRICES
======================================================== ==================================
AU PRICE     CUTOFF     MEASURED & INDICATED RESOURCE         PROVEN & PROBABLE RESERVE
                         TONNES      GRADE   CONT. AU       TONNES     GRADE      CONT. AU

 US$/OZ        (G/T)     (000OZ)     (G/T)    (000OZ)        (000)     (G/T)       (000OZ)
-------------------------------------------------------- ----------------------------------
    300        0.68      66,466       1.28      2,724       36,119      1.38        1,606
    325        0.62      68,961       1.27      2,809       38,614      1.36        1,690
======================================================== ==================================
</TABLE>

        Mining will be by a conventional open pit method. Pit slopes will be
        dependent on rock type. Bench heights will be 12m in waste while in ore
        they will be 6m to accommodate grade control. Ramps will be 32m wide at
        a maximum 10% grade.

        22t and 34t pulldown units in ore and waste will perform drilling
        respectively. A contractor will do blasting. Loading in waste will be by
        a P&H 2300-25m3-rope shovel and in ore by a 14m(3) excavator to
        facilitate grade control at ore-waste contacts. A fleet of 13
        Caterpillar 785 (78m3/136t) haul trucks will haul waste to dumps and ore
        directly to the Dome Mill. Four additional trucks will be required as
        the pit deepens. The use of larger haul trucks will be investigated in
        the feasibility study.

        Ancillary equipment will consist of 2 track dozers, 1 rubber-tired
        dozer, 3 road graders, a water truck, lighting plants and miscellaneous
        service vehicles.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 74
--------------------------------------------------------------------------------

FIGURE 5.1:  PAMOUR OPEN PIT DESIGN







                                   [PICTURE]







--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 75
--------------------------------------------------------------------------------

        Mine operating costs were derived from first principles using labor
        rates and prices for consumables as per the PJV 2003 operating budget.
        Production rates and operating costs compared favorably with those of
        the Dome Pit.

        Much of the equipment required for the Pamour operation will be
        relocated from the Dome Open Pit. The initial capital costs include the
        cost of new equipment not available from the Dome operation as well as
        rebuild costs of some of the older units.

        The production schedule for the Case 3 Pamour open pit is summarized in
        Table 5.1.3.

<TABLE>
<CAPTION>

TABLE 5.1.3: PAMOUR PRODUCTION SCHEDULE

==========================================================================================================
YEAR                   2004    2005     2006    2007     2008    2009    2010     2011    2012     TOTAL
----------------------------------------------------------------------------------------------------------
<S>                   <C>     <C>     <C>     <C>      <C>     <C>     <C>      <C>      <C>     <C>
Waste                 3,545   7,764   12,058  22,608   22,172  16,579  15,878   22,995   9,577   133,176
Strip Ratio                    2.59     2.40    4.50     4.40    3.30    2.90     4.20     2.1      3.45
Ore (000)                     2,995    5,024   5,024    5,039   5,024   5,475    5,475   4,560    38,616
Grade (g/t)                    1.32     1.41    1.41     1.34    1.37    1.39     1.30    1.45      1.36
Cont Au Oz (000)                127      228     228      217     221     245      229     213     1,690
Recovery (%)                   91.7     91.7    91.7     91.7    91.7    91.7     91.7    91.7      91.7
Recovered Au Oz (000)           117      209     209      199     203     224      210     195     1,565
==========================================================================================================
</TABLE>

        The key infrastructure issues involved in developing the Pamour Project
        are as follows:

        o   Construct a 12km haul road which will cross a provincial highway and
            two rivers,
        o   Re-route the provincial highway, and
        o   Dyke and drain part of a lake and construct a new lake of equal
            volume.

        The feasibility study and permitting process are scheduled for
        completion by the end of 2003 for PJV approval in early 2004.
        Construction of the haul road and major infrastructure will be completed
        by late 2004. Stripping will begin in late 2004 and full-scale ore
        mining will be achieved in mid 2005.

        The Pamour Deposit is low grade and thus sensitive to capital
        expenditure. Effective utilization of capital should therefore be an
        objective of the feasibility study. The evaluation of heap leaching as a
        process alternative for the Pamour ore may offer the following
        opportunities:

        o   Optimization of the resource through low grade processing,

        o   More efficient utilization of the mining fleet as a result of
            decreased ore haulage from Pamour to Dome (assuming truck ore
            haulage to Dome), and

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 76
--------------------------------------------------------------------------------

        o  Maximize NPV through higher gold production sooner in the project
           life as compared to the Case 3, mill only option.

        Royal Oak conducted column tests and pilot heaps in 1986 followed by
        installation and operation of a 300,000-tpy facility in 1987. The level
        of success of the operation is for the most part anecdotal as much of
        the operating data is unavailable. Consequently SRK has drawn no
        conclusions from those tests.

        The PJV is currently carrying out heap leach testwork consisting of
        sampling and column tests. The results will be integrated into the final
        phase of the feasibility study.

5.2     HOYLE POND MINE

        UNDERGROUND OPERATIONS

        The Hoyle Pond operations consist of an underground mine serviced by two
        decline ramps and one 4-compartment shaft. The underground operations
        are comprised of 17 main levels, with the shallowest at 40m below
        surface and the deepest at 720m below surface. The Hoyle Pond ramp
        extends down to the 280m level and services the Hoyle Pond and 7 vein
        zones. The 1060 ramp extends to the 720m level and services the 1060
        Zone. Underground development continues with the extension of the 1060
        ramp below the 720m level. That is expected to reach the 860m level in
        2003. The shaft was completed in 1997 to a depth of 720m below surface.
        Engineering is currently underway to determine the optimal method for
        ore handling below the 960m level. A surface plan and longitudinal
        section of the Hoyle Pond operation is shown in Figure 5.2.

        Total production (ore and waste) is transported to the loading pocket by
        means of an ore/waste pass system and hoisted to surface in 6.5t skips.
        The surface infrastructure consists of administration buildings,
        maintenance, compressed air, paste fill plant, and hoisting facilities.
        Current life of mine plans based on reserves and resources have
        production ending in 2009.


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 77
--------------------------------------------------------------------------------

FIGURE 5.2:  HOYLE POND SURFACE PLAN & LONGITUDINAL SECTION







                                   [PICTURE]








--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 78
--------------------------------------------------------------------------------

        Development headings driven in waste are drilled with 2 boom GD jumbos
        and 1 boom Atlas Copco jumbos. Ramps are driven 4m high and 4.5m wide at
        a gradient of 15%. Haulage drifts are 3m high by 3m wide. Both back and
        walls are supported with 6' resin grouted rebar on a 4ftx 4ft pattern.
        Auxiliary ventilation is supplied by Joy 36" - 60hp fans, and 36"
        flexible ducting. Six yard and two yard scooptrams are used for muck
        removal depending on the drift size. Ramps are designed to provide level
        and sub-level access for draw point mucking, production longhole
        drilling and exploration diamond drilling.

        The mineralized zones at Hoyle Pond are narrow high-grade veins, dipping
        from 30(0) to 90(0). Mining methods used are cut and fill, shrinkage,
        panel and longhole methods.

        The percentage of ore production by mining method for 2003 is 34%
        longhole, 31% cut and fill, and 23% shrinkage. The balance of production
        is made up by other development such as drifting (7%) and raising (2%).

        Conventional cut and fill, shrinkage and panel mining methods are
        typically employed to excavate the narrower gold bearing vein
        structures. Cut and fill mining utilizing either drill jumbos or
        jacklegs is determined by vein width. Each of the preceding mining
        methods is used to extract vein structures in vertical and or near
        horizontal attitudes. Veins mined by these methods typically range from
        0.20m to 2.0m and are usually higher grade material. Mucking is
        accomplished by the use of appropriately sized slushers.

        Longhole methods with paste backfilling are used in wider stoping areas.
        Longhole levels are advanced at 60m intervals with sub levels at 20m
        intervals. Haulage drifts are driven in the footwall about 12m offset
        from the ore zone.

        Backfilling methods were traditionally a combination of rock fill and
        cemented slag but these methods have been replaced with high quality
        paste backfill delivered through fillholes from surface and distributed
        with a network of underground piping. A limited amount of rock backfill
        with cement capping is employed as well.

        Ground support is maintained using a regular 1.2m x l.2m pattern of
        mechanical and/or grouted rebar rock bolts. Swellex and Split Set
        friction stabilizers, with shotcrete or wire mesh, are used wherever
        localized ground conditions warrant additional support.


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 79
--------------------------------------------------------------------------------

        Ventilation is up cast through a large raise over the 1060 ore zone.
        However, a modified ventilation system would be required to develop to
        the east. The Hoyle Pond and 1060 ore zones are well serviced with an
        underground communication system and excess electrical power.

        Production drilling between sub-levels using the following patterns:

        o   widths greater than 4.5 meters:     2.5" dia. hole @ 1.5 x 1.5
                                                meter pattern
        o   widths from 1.5 and 3 meters:       2.125" dia. hole @ 1 x
                                                meter pattern
        o   widths less than 1.5 meters:        2.125" dia. hole @ 1.5 meter
                                                dice or 1.2 meter dice

        Production holes are pneumatically loaded with emulsion (1" x 12"). The
        wall holes are loaded pneumatically with emulsion and traced with 7/8"
        detonating cord with a stemming plug. All delays in narrow areas are
        EZ-Drifters 100/3800, wide areas use EZ-Det 25/700. Holes are double
        primed with 1/3lb Green Cap Boosters. Trim products are used on the
        walls as required.

        Mucking is accomplished with 2.5yd3 and 6yd3 remote-operated scooptrams.

        All mine equipment maintenance associated with the Hoyle Pond Mine is
        performed underground. Surface facilities have old maintenance shops
        that are not currently in use. The surface mining contractor responsible
        for surface mining the crown pillar at the Marlhill Mine uses some of
        the shops.

        All ore is trucked to the Dome Mill in 65t over-the-road trucks.

        SURFACE OPERATIONS

        The current Life-of-Mine plan for the PJV incorporates the mining of the
        Hoyle Pond crown pillar by conventional open-pit methods in 2004. An
        internal feasibility study by the PJV, with sections by external
        consultants, was completed in January 2003. To minimize impacts to
        current surface facilities, most importantly the Falconbridge tailings
        facilities, a "constrained" open pit option will continue to be
        evaluated throughout 2003.

        The constrained pit will produce approximately 98kt of ore diluted at
        25% to 15.8g/t Au for a total of 49,782 contained gold ounces from a
        crown pillar resource of approximately 200kt tonnes at 12.3g/t Au.
        Overburden and waste material are

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 80
--------------------------------------------------------------------------------

        estimated at 1.1Mm3 and 156kt, respectively. Mining will be done by a
        contractor at a rate of 4,000tpd total material. The pit life is
        relatively short, with ore mining completed during the last three months
        of the total 9-month mining period.

        The mining of the Hoyle pond crown pillar will require significant
        infrastructure including the installation of circular steel sheet pile
        (SSP) cells, steel sheet pile walls, and dams to isolate the adjacent
        Falconbridge tailings management area (TMA), berms to separate the pit
        from the Hoyle Pond complex, relocation of the Hoyle Pond mine water
        settling ponds, relocation of TMA utility and access road, and
        installation of underground bulkheads to isolate the Hoyle Pond
        underground workings from the pit.

5.3     DOME MINE

        UNDERGROUND OPERATIONS

        The Dome Underground mine is in its final year of full production in
        2003 after 93 years of operation that began in 1910. The mine consists
        of 37 levels generally spaced at approximately 45m intervals extending
        over 1,500m (one mile) in depth. The main production and service shaft
        is the No. 8 shaft which extends 1,668m in depth. The former No. 3 shaft
        that extends 745m in depth has been mined-through by the open-pit
        operation and is no longer in service. A long section through the Dome
        mine is shown in Figure 5.3.

        Mining is predominantly by modified longhole methods that will provide
        97% of the tonnes produced in 2003. The balance of production is
        comprised of cut and fill mining (1%) and development (2%). There are
        three cut and fill stopes remaining that will be depleted in 2003.

        Most of the remaining longhole stopes are adjacent to previously
        backfilled stopes and incorporate 20-30% of backfill dilution. The
        remaining cut and fill stopes are narrow, averaging 2m in width and are
        being mined in 2m lifts.

        As production of the Dome Underground mine nears completion, attempts to
        extend the mine life are being evaluated with on-going exploration of
        areas within and peripheral to the mine. Extensions of the mine life
        will continue to rely on the No. 8 shaft and associated infrastructure.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 81
--------------------------------------------------------------------------------









                                   [PICTURE]








--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 82
--------------------------------------------------------------------------------

        SURFACE OPERATIONS

        The Dome Open Pit is being mined in three stages. Development of the
        final stage commenced in the summer of 1998. The pit currently extends
        to a depth of 207m (680ft) below original topography. The final pushback
        design will result in an ultimate pit depth of 366m (1,200ft) that will
        require the relocation of the process conveyor along the north side of
        the pit. Additional expansions beyond this final pushback are severely
        limited by the balance of existing infrastructure along the rim of the
        pit, including the primary crushing and mill facilities.

        Mining is conducted using conventional open-pit mining methods. All
        mining is carried out on 9.1m (30ft) benches. Pit wall inter-ramp angles
        vary from a minimum of 42(0) in porphyry (the foliation angle) to over
        50(degree) in the greenstones, but average 52 degrees. Pre-split
        blasting and cable bolting in areas of previous underground mining
        intersected by the pit are used to increase slope stability. Haulage
        ramp gradients are set to 10%.

        Conventional open pit mining equipment is used, with the primary fleet
        of 2 P&H 2300 rope shovels (25m3) and 13 CAT 789 haul trucks (136t).
        Three CAT 992 front-end loaders complement primary fleet loading
        requirements, with two of the units generally in operation at all times.

        Auxiliary equipment includes three diesel-powered drills, dozers,
        graders, and other support equipment.

        Ore estimates for the open pit include allowances for the presence of
        mined-out underground workings. Open pit mining costs reflect the
        specialized drilling, blasting and backfilling that is required to
        ensure that open pit mining can proceed safely through these underground
        workings. Overburden encountered in the upper portions of the open pit
        is stockpiled for use in reclamation. Rock dumps are contoured and
        re-vegetated on an ongoing basis as part of normal open pit operations.


--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 83
--------------------------------------------------------------------------------

6.0     METALLURGICAL PROCESSING

        Historically, Pamour, Hoyle Pond and Dome owned and operated their own
        mills as summarized in Table 6.1.1.

   TABLE 6.1.1:  STATUS OF PJV MILLING FACILITIES

================================================================================
  MILLING FACILITY     MINE               CURRENT STATUS
--------------------------------------------------------------------------------
  Pamour Mill          Pamour Mine        Closed - Slated for Demolition
  Bell Creek Mill      Hoyle Pond Mine    Care & Maintenance - 1500tpd Capacity
  Dome Mill            Dome Mine          Operating - 12,000tpd Capacity
================================================================================

        The Pamour Mine and Mill are currently shutdown. There is no plan to
        reopen the mill at Pamour, as the ore will be processed at the Dome
        Mill, the Pamour facility is slated for dismantling and removal.

        Ore from the Hoyle Pond Mine was historically (prior to the PJV) milled
        at the nearby Bell Creek Mill, which is also owned by Kinross (and is
        part of the PJV). Bell Creek is currently under care and maintenance,
        and all ore mined at Hoyle Pond is transported via Over-The-Road trucks
        to the Dome Mill. Currently there is no plan to reactivate the Bell
        Creek Mill.

        All ore mined by the PJV will be milled at Dome. Currently, the Dome
        Mine and the Hoyle Pond Mine provide feed to this mill. In the future,
        the mill will be expanded to also accommodate production from the Pamour
        Mine, which is slated for production in 2005.

        Following are descriptions of the mill assets, as they currently exist.

6.1     PAMOUR MILL

        Historical operations at the Pamour Mill are discussed below. This
        facility is currently shutdown, and plans are in place to dismantle and
        remove this facility.

        Crushing at the Pamour mill was performed in three stages, with the
        third stage in closed circuit. Ore from outside properties was
        stockpiled and crushed to minus 6 inches in a 36" x 48" Allis Chalmers
        surface jaw crusher.

        The secondary crusher is a 5.5' Symons standard cone crusher capable of
        crushing the ore to minus 1". The product of the secondary crusher was
        transported by conveyor to

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 84
--------------------------------------------------------------------------------

        a 50 ton surge bin, which fed two 8' x 16' double deck screens in
        parallel. The oversize material from the screens was combined and
        conveyed to a splitter box which fed two 5.5' Symons short head cone
        crushers and crushed the ore to minus 3/8". The undersize material from
        the screens, at minus 0.333" was conveyed to two 500t fine ore bins.

        Grinding was performed in two stages of closed circuit ball milling.
        Primary grinding was performed in two parallel and identical circuits,
        each consisting of a 450hp, 9'x10' Dominion Ball Mill, fed from their
        own fine ore bin.

        Three secondary mills consisted of a 9'x 12'ball mill, a 9.5'x 12' ball
        mill and an 8'x12' ball mill. Secondary cyclone overflow averaged some
        50% to 55% solids and 50% to 60% passing 200mesh. A 30" Knelson treated
        a portion of the secondary cyclone overflow.

        A Deister shaking table was utilized to upgrade the gravity concentrates
        to a refineable grade gravity concentrate. The gold output of this
        circuit averaged 15% to 20% of the total metal recovered.

        The overflow from the secondary cyclone pack was gravity fed to a
        trommel wood chip screen and passed on to the flotation circuit. Rougher
        flotation was performed in an OK-50 Tank cell, followed by two 10'
        Maxwell cells in series. The discharge of the third Maxwell cell went to
        a splitter box, which fed two parallel banks of six Galigher Agitair 150
        cells. The tailings from these scavenger cells went to final tailings.
        The Maxwell circuit "rougher" concentrate used to be cleaned in a bank
        of six Denver Sub "A" No. 24 flotation cells, producing a final
        flotation concentrate. Cleaner tailings were recycled to the first
        Maxwell rougher cell.

        The Galigher circuit concentrate was cleaned in a separate bank of
        Denver Sub "A" cells. The scavenger concentrate cleaner bank tailings
        were recycled to the last Maxwell unit and the cleaner concentrate was
        then reground by a 7'x12' Dominion mill.

        A conventional counter-current decantation system was used in the
        cyanide leaching circuit to recover gold. The gold was recovered from
        the solution in a standard Merrill-Crowe precipitation unit.

        The mill flowsheet at Pamour is shown in Figure 6.1.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 85
--------------------------------------------------------------------------------

FIGURE 6.1:  PAMOUR MILL FLOWSHEET`







                                   [PICTURE]






--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 86
--------------------------------------------------------------------------------

6.2     BELL CREEK MILL

        Historical operations at the Bell Creek Mill are discussed below. This
        facility is currently under care and maintenance. The 1500tpd Bell Creek
        Mill utilizes gravity concentration, cyanide leaching and carbon in pulp
        gold absorption.

        Ore from Hoyle Pond was dumped into a truck dump hopper, which fed a
        Nordberg C100 jaw crusher. The jaw crusher fed a 6'x20' double deck
        simplicity screen in a closed circuit with a Nordberg HP300 cone
        crusher. The screen undersize reported to an 800t fine ore bin and the
        oversize was conveyed to the coarse ore bin feeding the cone crusher.

        Minus 1/2" material was fed to the grinding circuit where a 12 x16' and
        a 9'x10' ball mill worked in parallel with the smaller mill treating a
        bleed stream from the larger mill. Gravity gold was recovered by the use
        of two Knelson concentrators fed from the cyclone underflows. Gravity
        recovery accounted for up to 60% of the recovered gold, dependent on ore
        type. The cyclone overflow reported to a 65' Eimco thickener where the
        slurry density was increased from 30% solids to 55% solids. The
        thickener underflow fed five leach tanks in series, which provided about
        24 hours of leaching.

        Lime addition maintained a pH of 10.5 to 11.0. After leaching, the
        slurry was pumped to the CIP circuit, where the gold was absorbed by
        activated carbon contained in the CIP tanks. When carbon was loaded up
        with gold, it was removed from the tanks and stripped. The stripping
        process transferred the gold from carbon into solution. The solution was
        passed through an electrowinning cell where the gold attached itself to
        a cathode in the form of high-grade sludge. The cell was cleaned by
        washing the sludge off the stainless steel mesh, and the sludge was
        refined in an electric induction furnace. Gravity gold from the Knelson
        concentrator was also smelted.

        Gold bullion, assaying approximately 90% Au and 8% Ag was cast into bar
        form and shipped to Johnson Matthey Ltd. for refining.

        Tailings from the CIP reported to the filter plant, which fed cake to
        the paste backfill (when operating). Final tails were pumped to the
        tailings facility.

        The mill flowsheet at Hoyle Pond is shown in Figure 6.2.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 87
--------------------------------------------------------------------------------

FIGURE 6.2:  BELL CREEK MILL FLOWSHEET









                                   [PICTURE]







--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 88
--------------------------------------------------------------------------------

6.3     DOME MILL

        Operations at the 12,000tpd Dome Mill are discussed below. This facility
        currently processes ore mined at the Hoyle Pond and Dome mines. Later,
        the mill will be expanded and will also process Pamour ore when that
        mine goes into production in 2005.

        RoM ore is delivered to the gyratory crusher, which crushes the material
        to a nominal product size of 80% minus 150 mm. The crushed material is
        conveyed from the coarse ore stockpile using a conveyor, which
        discharges onto a SAG mill feed stockpile-stacking conveyor. The
        stacking conveyor discharges ore onto the SAG mill stockpile, and
        supplies the SAG milling circuit with a continuous supply of ore.

        Ore from the SAG mill stockpile is withdrawn at a controlled rate by
        feeders and the SAG mill feed conveyor, and feeds a 32'x14' SAG mill
        driven by a 6,500kW motor. The product from the SAG mill discharges onto
        a double-deck vibrating screen, the oversize from which is recycled by
        the SAG mill feed via a pebble crusher. The screen undersize is diluted
        and pumped to the A and B ball mill circuits.

        The product from the SAG mill circuit discharges into the existing ball
        mill discharge pump box, together with ball mill discharge and dilution
        water. The combined slurry is pumped to a nest of classifying cyclones.
        A portion of the underflow product from the cyclones is delivered to the
        existing Knelson gravity concentrators; the remainder is fed directly to
        the ball mill. The cyclone overflow product, sizing 80% minus 90
        microns, gravitates to a thickener.

        The heavy concentrate recovered from the gravity concentrators is
        delivered to the refinery. Thickener underflow, containing 55% solids by
        weight is pumped to the cyanide leach circuit. Overall leach retention
        time is approximately 18 hours.

        The product from the leach circuit is fed to the CIP circuit. The loaded
        carbon from the CIP circuit is transferred to the elution circuit, which
        consists of a holding tank, a 8t capacity strip column, a 8t capacity
        acid wash column and a new 8t/d carbon regeneration kiln.

        The pregnant solution is pumped from the pregnant solution tank to the
        existing electrowinning circuit in the refinery, where the gold will be
        recovered. The mill flowsheet at Dome is shown in Figure 6.3.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 89
--------------------------------------------------------------------------------








                                   [PICTURE]





--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 90
--------------------------------------------------------------------------------

7.0     MANPOWER

        Manpower requirements for the PJV will be sourced from the existing
        workforce where practical. Existing mill, accounting, warehouse, safety
        and technical personnel will be allocated to the Pamour Pit as
        production from the Dome pit decreases. Existing work schedules will
        remain in place for those employees.

        Pit and maintenance workers will be drawn from existing labor pools in
        the pit and maintenance, and adjusted for production requirements as
        necessary.

        The current operations at Dome and Hoyle Pond employ a number of
        differing shift schedules, ranging from a 10.5-hour 4x4 schedule for the
        Hoyle underground, day shift and afternoon shift 5 and 2 for the Dome
        underground mine, and the mill and pit workers on a 12-hour 4x4
        schedule, with maintenance people as required.

        The Pamour pit will employ workers on the same terms as existing pit
        employees, and follow the same shift schedules.

        Hourly paid workers at Pamour will be covered under the terms of a
        collective bargaining agreement signed with United Steelworkers of
        America, Local 7580. The agreement provides for wages and benefits
        competitive with current industry rates. Incentive plans already in
        place through Placer Dome will remain in place for the PJV employees.

        The February 2003 workforce consists of 190 salaried and 506 hourly
        employees. From time to time, the PJV hires a wide range of contractors
        to perform a variety of tasks. At the time the site visit was conducted,
        approximately 100 contractors were working at the PJV.



--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 91
--------------------------------------------------------------------------------

8.0     ENVIRONMENTAL MANAGEMENT & PERMITTING

        The following section includes discussion and comment on the
        environmental aspects of the PJV mining assets. Specifically, detail and
        comment is included on the status of the environmental issues,
        environmental legislation and permitting, environmental management
        systems and environmental liabilities.

        SRK examined all current Certificates of Approval and closure plans for
        the mining and milling operations of the Porcupine Joint Venture. PJV
        and its consultants have prepared the technical data concerning the
        environmental and closure aspects of the mining assets. SRK has accepted
        this data, which forms the basis of the related discussion and
        conclusions in this report, as being factual and complete.

8.1     HOYLE POND, PAMOUR, & BELL CREEK

        All requisite permits have been obtained for the mining and continued
        development of the Hoyle Pond Mine, and the Bell Creek Mill. The
        necessary permits required to commence mining of the mineral reserves
        contained at Pamour, north of Highway 101, referred to as the Phase I
        mine plan, have been maintained in good standing and require only
        administrative reactivation.

        PJV estimates its site restoration costs at the Timmins operations to be
        CDN$11.4million of which $3.3 million has been accrued as a long-term
        liability of the Company. The balance will be accrued on a unit of
        production basis over proven and probable reserves. The Company has
        posted surety bonds and letters of credit totaling CDN$2.6million for
        site restoration obligations with the provincial government.

8.2     DOME MINE

        All requisite permits have been obtained for the mining and continued
        development of the Dome underground and open pit mine and mill and are
        in good standing the Porcupine Joint Venture is in compliance with such
        permits in all material respects. PJV estimates site restoration costs
        to be CDN$18.9 million.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 92
--------------------------------------------------------------------------------

8.3     PORCUPINE JOINT VENTURE

        Prior to the formation of the PJV, Kinross had in place an Environmental
        Management Plan ("EMP"), dated August 2001, for all its Timmins
        operations. As a result of the formation of the PJV on July 2002, the
        EMP is currently being updated to include Placer Dome pooled assets.

        In addition to the EMP, and also prior to the formation of the PJV,
        Environmental Due Diligence ("EDD") studies were performed on each
        partners' asset by independent consultants. Golder Associates ("Golder")
        of Whitby, Ontario and MWH of Steamboat Springs, Colorado conducted an
        EDD on Kinross and Placer Dome assets, respectively. The EDD conducted
        by MWH concerned certain aspects of the tailings facility, waste rock
        piles and pit walls stability, ancillary mining facilities and
        examination of closure cost estimates for Placer Dome assets brought
        into the PJV, namely the Dome Mine. The audit report prepared by MWH and
        examined by SRK does not reveal any regulatory compliance issues and
        reports that there has been no orders, fines or penalties in the last 3
        years.

        SRK also examined correspondence between Golder and Kinross relating to
        the EDD performed by Golder on Kinross Timmins assets.

        In September 2001, as part of their EMP, Kinross completed internal
        environmental compliance audits on the Hoyle Pond/Bell Creek and Pamour
        assets. The audit concerned the Hoyle Pond mine, 1060 open pit, Bell
        Creek mill and tailings facility and the Royal Oak (Pamour mine) assets.
        Final exception reports (Final Exception Report #011001 and #012001 for
        Hoyle Pond/Bell Creek and Pamour, respectively) were prepared with a
        list of identified exception issues and remediation actions. No material
        issues were noted and according to the documents examined by SRK,
        remediation actions were completed diligently.

        According to information provided by Placer Dome, no recent compliance
        audit has been performed for the Dome mine assets. However, in December
        2002, Placer published an annual Sustainability report.

        SRK also examined the exchange of correspondence between Kinross, Placer
        Dome and Ontario regulatory bodies and the Ministry of Natural of
        Northern Development and Mines of Ontario relating to the filing of
        closure plans and addendums listed in Section 11.4.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 93
--------------------------------------------------------------------------------

        The PJV will require the following permit approvals to mine south of
        Highway 101, which is outside of the Phase I of the Pamour mine plan.

         o  Mine dewatering,
         o  Mine tailings disposal,
         o  Reclaim water from tailings facility,
         o  Sewage disposal,
         o  Domestic water from Three Nations Lake,
         o  Solid waste disposal,
         o  Air emissions from mill and associated facilities,
         o  Storm Water Control Plan and Management Plan (preliminary work
            completed). These are not required for startup but will be required
            during the mine's operation to assess impact on the environment,
         o  Closure Plan,
         o  Canadian Environmental Assessment, and
         o  MTO Environmental Assessment.

        The government agencies that will be involved in the additional
        permitting process include the City of Timmins, the Matagami River
        Conservation Authority, the Ontario Ministries of Northern Development
        and Mines, Natural Resources, Environment and Transportation, the
        Federal Department of Fisheries and Oceans and Environment Canada.

        The key element in the development of the expanded open pit outside of
        the Phase I mine plan will be the relocation of Highway 101. The
        proposed relocation will involve constructing a causeway over a portion
        of a small lake, the Three Nations Lake, and will therefore have a
        direct effect on a nearby fish habitat. This highway has been relocated
        several times during the production history of the mine. As a fishery
        resource will be involved in the project planning, the Canadian
        Environmental Assessment Act process will be the guiding legislation.
        Kinross believes there is a high level of assurance that the project
        will receive all required approvals for development.

        Some land acquisition will be required for the construction of the
        project. The Drew claims located immediately north of the phase one open
        pit, for which the surface rights are required for a waste rock disposal
        site, will have to be acquired. The Tanager claims located on the
        eastern shore of the Three Nations Lake for which the surface rights are
        required for relocation of Highway 101 will also have to be

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 94
--------------------------------------------------------------------------------

        acquired. Negotiations for the acquisitions of these claims have been
        initiated and Kinross believes there is a high level of assurance that
        they will be concluded successfully. A right of way will have to be
        obtained for the haulage road from the Pamour mine to the Dome mine, for
        which negotiations have not yet commenced. SRK is also of the opinion
        that there is a high level of certainty that current and future
        acquisition and right-of-way negotiations will be successful.











--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 95
--------------------------------------------------------------------------------

9.0     ECONOMIC ANALYSIS

9.1     INTRODUCTION

        As part of its analysis, the PJV has developed an internal life-of-mine
        ("LoM") technical model (the PJV Model) for its operating mines (Hoyle
        Pond and Dome) and non-operating mine property (Pamour). The PJV Model
        details operations on an annual basis and mines out all of the currently
        delineated proven and probable reserves.

        The LoM Plans and the technical economic projections presented in the
        PJV Model include forward-looking statements that are not historical
        facts and are required in accordance with the reporting requirements of
        the OSC. These forward-looking statements are estimates and involve a
        number of risks and uncertainties that could cause actual results to
        differ materially.

        SRK's review of the PJV Model is presented in this section. SRK reviewed
        all information contained in the PJV Model and finds it reasonable.

9.2     VALIDATION OF PJV MODEL INPUTS

        The structure of the PJV Model is comprised of two basic modules
        containing; (1) ore production and gold recovery inputs, and (2) capital
        and operating cost estimates. It appears that all links within the
        spreadsheet are properly made and that values have been properly
        calculated.

        SRK finds no reason to question the integrity of the PJV Model.

9.2.1   ECONOMIC PARAMETERS

        General modeling parameters used in the analysis are summarized in Table
        9.2.1. All costs are in Canadian dollars. All values are in year 2003
        basis with no escalation/inflation. SRK is of the opinion that these
        economic modeling parameters used by PJV are fair and reasonably
        reflect, and possibly provide a conservative view of projected financial
        market trends.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 96
--------------------------------------------------------------------------------

   TABLE 9.2.1: PJV MODEL PARAMETERS
 ===============================================================================
    MODEL PARAMETER                                                ASSUMED VALUE
 -------------------------------------------------------------------------------
    Gold Price                                                      US$325.00/oz
    Exchange Rate                                              CDN$1.50: US$1.00
 ===============================================================================

9.2.2   TECHNICAL MODEL INPUTS

        Production rates, ore grades and metallurgical recoveries over this
        period have been reviewed by SRK and found to be within those
        historically achieved at each respective operation. PJV should expect to
        mine about 66Mt of ore at an average run-of-mine (RoM) gold grade of
        1.8g/t and to recover 3.5Moz of gold over the 13 year LoM period.

9.2.3   OPERATING COSTS

        Historical operating costs for the period 1999-2002 averaged
        CDN$33.62/t, which compares favorably to budgeted costs for the same
        period. Projected costs moving forward are estimated to average
        CDN$17.50/t for the duration of the project.

        SRK's review of planned versus actual capital expenditures (for years
        1999 to 2002) conclude that the operations have historically operated
        within their budgeted parameters. SRK is of the opinion that this trend
        will continue into the future. Capital costs projections over the LoM
        are projected to be CDN$263million over the duration of the project.

9.2.4   CAPITAL COSTS

        SRK's review of planned versus actual capital expenditures (for years
        1999 to 2002) conclude that the operations have historically operated
        within their budgeted parameters. SRK is of the opinion that this trend
        will continue into the future. Capital costs projections over the LoM
        are projected to be CDN$263million over the duration of the project.
        These values, which include sustaining requirements, are reflective of
        historic achievements and are considered reasonable given PJV's future
        plans.

        The PJV Model plans to exhaust the currently defined mineral reserves.
        For modeling purposes the mines are assumed to close when the present
        mineral reserves run out. The actual timing of the closure will
        ultimately depend on the success of each operation to replenish mineral
        reserves. However, these mines have a history of identifying additional
        mineral resources and subsequently converting these mineral

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 97
--------------------------------------------------------------------------------

        resources to mineral reserves. However, as a condition of National
        Instrument 43-101, only proven and probable reserves can be considered
        in the technical-economic model. As such, capital expenditure profiles
        call for completion of mine development programs, mine and mill
        equipment requirements and closure and reclamation costs.

        Not included in the capital cost estimate are estimated salvage value
        credits which will result is lower overall capital costs. Ongoing
        exploration programs account for a small portion of planned capital
        expenditures.

9.3     PJV MODEL RESULTS

        The technical-economic and financial models prepared by PJV are
        considered by both partners to contain privileged and confidential
        information. However, PJV has made these data available to SRK for
        review. Based upon this review SRK concludes that the models prepared by
        PJV have been prepared under generally accepted industry practices, and
        offer a fair representation of future operating plans.





--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 98
--------------------------------------------------------------------------------

10.0    CONCLUDING REMARKS

        The views expressed by SRK in this technical report have been based on
        the fundamental assumptions that the required management resources and
        pro-active management skills and access to adequate capital necessary to
        achieve the LoM Plan projections for the mining assets are provided as
        projected.

        SRK has conducted a comprehensive review and assessment of all material
        issues likely to influence the future operations of PJV's mining assets.
        The LoM Plans for the mining assets as provided to SRK have been
        reviewed in detail for appropriateness, reasonableness and viability,
        including the existence of, and justification for, any departures from
        historical performance. Where material differences were found, these
        were discussed with Kinross and PJV and adjusted where considered
        appropriate. SRK considers that the resulting projections have been
        based upon sound reasoning, engineering judgment and achievable mine
        plans, within the context of the risks associated with the global mining
        industry.

        Signed,

        "Jean-Francois Couture"
        -------------------------------------------
        Dr. Jean-Francois Couture,
        PGeo. Principal Geologist

        For and Behalf of:

        Steffen, Robertson and Kirsten (Canada) Inc.



--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                             Page 99
--------------------------------------------------------------------------------

11.0    REFERENCES

11.1    CORPORATE

        PJV        Pamour Feasibility Study, Phase I (2002)

        PJV        Life-of-Mine (LoM) Plan (2003)

        PJV        Budget (2003)

        PJV        Business Plan (2002)

        Kinross    2002 Annual Report

        Placer     2002 Annual Report

        Kinross    Form 20F / Annual Information Form (2002)

        Placer     Form 20F / Annual Information Form (2002)

        Kinross    SEC Form 40 F/A (2001)

        Kinross    Monthly Operating Reports (Various, 1997 - 2003)

        Placer     Monthly Operating Reports (Various, 1997 - 2003)

                   Various News Releases

11.2    GEOLOGY

        Ayer, J.A., Trowell, N.F., Amelin, Y., and Corfu, F., 1999. Project Unit
        95-24. Geological compilation of the Abitibi greenstone belt in Ontario:
        Toward a revised stratigraphy based on compilation and new geochronology
        results; IN Summary of Field Work and Other Activities 1998, Ontario
        Geological Survey Miscellaneous Paper 169, p. 14-24.

        Brisbin, D.I., 1997. Geological setting of gold deposits in the
        Porcupine Mining Camp, Timmins, Ontario; unpublished Ph.D. thesis,
        Queen's University, Kingston, Ontario, 523p.

        Marmont, S., and Corfu, F., 1989. Timing of gold introduction in the
        Late Archean tectonic framework of the Canadian Shield: Evidence from
        U-Pb zircon

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                            Page 100
--------------------------------------------------------------------------------

        geochronology of the Abitibi Subprovince; IN Economic Geology, Monograph
        6, p. 101-111.

        Melnik-Proud, N., 1992. The geology and ore controls in and around the
        McIntyre Mine at Timmins, Ontario, Canada; unpublished Ph.D. thesis,
        Queen's University, Kingston, Ontario 353 p.

        Pressaco, R., ed., 1999. Special project: Timmins ore deposit
        descriptions; Ontario Geological Survey, Open File Report 5985, 222 p.

        Wakeford, J., Jeffery, B., and Pattison, J., 1994. Field trip 4,
        Northeast Ontario: Kidd Creek, Placer Dome super pit, and Holloway
        project. The Fourth Annual CIM Geological Society Field Conference,
        September 19-21, 1994, Sudbury, Ontario.

11.3    MINING AND PROCESS

        Kinross Gold Corp.    Hoyle Pond Visitors Handbook, January, 2002

        PJV                   Hoyle Pond Mine One Year Plan, (2003)

        PJV                   Hoyle Pond Crown Pillar Analysis, January 23, 2003

11.4    ENVIRONMENTAL

          o    Closure Plan for the Marlhill Mine, prepared by the PJV and dated
               September 2002;

          o    Closure Plan for the Bell Creek Mine, prepared by Falconbridge
               Gold Corp and dated Mars 1993;

          o    Closure Plan for the Bell Creek Mine (revised), prepared by
               Kinross Gold Corporation and dated August 1, 1995;

          o    Closure Plan for the Bell Creek Mill and Tailings Facility
               (addendum), prepared by Kinross Gold corp. and dated Dec. 28,
               1998;

          o    Closure Plan for the Hoyle Pond Mine, prepared by Falconbridge
               Gold Corp and dated Mars 31, 1993

          o    Closure Plan for the Hoyle Pond Mine (addendum 1), prepared by
               Kinross Gold Corp and dated Mars, 1995

          o    Closure Plan for the Hoyle Pond Mine (addendum 2), prepared by
               Klohn Clippen and dated 1999

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                            Page 101
--------------------------------------------------------------------------------

          o    Amendment to the Closure Plan for the Hoyle Pond Mine, prepared
               by PJV and dated Nov. 2002

          o    Closure Plan for the Dome Mine, prepared by Placer Dome Canada
               Inc and dated June 1, 1995;

          o    Closure Plan for the Dome Mine (revision 1), prepared by Placer
               Dome Canada Inc and dated Feb. 01, 1997;

          o    Closure Plan for the Dome Mine (revision 2), prepared by Placer
               Dome Canada Inc and dated Sept. 10, 2002;

          o    Closure Plan for the Dome Mine (revision 3; West Dump Area),
               prepared by Klohn Crippen and dated Sept. 3, 2001;






--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                            Page 102
--------------------------------------------------------------------------------

12.0    GLOSSARY

        The mineral resources and mineral reserves have been classified
        according to the "CIM STANDARDS ON MINERAL RESOURCES AND RESERVES:
        DEFINITIONS AND GUIDELINES" (August, 2000). Accordingly, the Resources
        have been classified as Measured, Indicated or Inferred and the Reserves
        have been classified as Proven and Probable based on the Measured and
        Indicated Resources as defined below.

        MINERAL RESOURCES

        A MINERAL RESOURCE is a concentration or occurrence of natural, solid,
        inorganic or fossilized organic material in or on the Earth's crust in
        such form and quantity and of such a grade or quality that it has
        reasonable prospects for economic extraction. The location, quantity,
        grade, geological characteristics and continuity of a Mineral Resource
        are known, estimated or interpreted from specific geological evidence
        and knowledge.

        An `INFERRED MINERAL RESOURCE' is that part of a Mineral Resource for
        which quantity and grade or quality can be estimated on the basis of
        geological evidence and limited sampling and reasonably assumed, but not
        verified, geological and grade continuity. The estimate is based on
        limited information and sampling gathered through appropriate techniques
        from locations such as outcrops, trenches, pits, workings and drill
        holes.

        An `INDICATED MINERAL RESOURCE' is that part of a Mineral Resource for
        which quantity, grade or quality, densities, shape and physical
        characteristics, can be estimated with a level of confidence sufficient
        to allow the appropriate application of technical and economic
        parameters, to support mine planning and evaluation of the economic
        viability of the deposit. The estimate is based on detailed and reliable
        exploration and testing information gathered through appropriate
        techniques from locations such as outcrops, trenches, pits, workings and
        drill holes that are spaced closely enough for geological and grade
        continuity to be reasonably assumed.

        A `MEASURED MINERAL RESOURCE' is that part of a Mineral Resource for
        which quantity, grade or quality, densities, shape, physical
        characteristics are so well established that they can be estimated with
        confidence sufficient to allow the appropriate application of technical
        and economic parameters, to support production

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                            Page 103
--------------------------------------------------------------------------------

        planning and evaluation of the economic viability of the deposit. The
        estimate is based on detailed and reliable exploration, sampling and
        testing information gathered through appropriate techniques from
        locations such as outcrops, trenches, pits, workings and drill holes
        that are spaced closely enough to confirm both geological and grade
        continuity.

        MINERAL RESERVES

        A MINERAL RESERVE is the economically mineable part of a Measured or
        Indicated Mineral Resource demonstrated by at least a Preliminary
        Feasibility Study. This Study must include adequate information on
        mining, processing, metallurgical, economic and other relevant factors
        that demonstrate, at the time of reporting, that economic extraction can
        be justified. A Mineral Reserve includes diluting materials and
        allowances for losses that may occur when the material is mined.

        A `PROBABLE MINERAL RESERVE' is the economically mineable part of an
        Indicated, and in some circumstances a Measured Mineral Resource
        demonstrated by at least a Preliminary Feasibility Study. This Study
        must include adequate information on mining, processing, metallurgical,
        economic, and other relevant factors that demonstrate, at the time of
        reporting, that economic extraction can be justified.

        A `PROVEN MINERAL RESERVE' is the economically mineable part of a
        Measured Mineral Resource demonstrated by at least a Preliminary
        Feasibility Study. This Study must include adequate information on
        mining, processing, metallurgical, economic, and other relevant factors
        that demonstrate, at the time of reporting, that economic extraction is
        justified.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                            Page 104
--------------------------------------------------------------------------------

ASSAY                   The chemical analysis of mineral samples to determine
                        the metal content.

CAPITAL EXPENDITURE     All other expenditures not classified as operating
                        costs.

COMPOSITE               Combining more than one sample result to give an average
                        result over a larger distance.

CONCENTRATE             A metal-rich product resulting from a mineral enrichment
                        process such as gravity concentration or flotation, in
                        which most of the desired mineral has been separated
                        from the waste material in the ore.

CRUSHING                Initial process of reducing ore particle size to render
                        it more amenable for further processing.

CUTOFF GRADE            The grade of mineralized rock, which determines as to
                        whether or not it is economic to recover its gold
                        content by further concentration.

DESALINATION            Chemical process of removing salt from contaminated
                        water.

DILUTION                Waste, which is unavoidably mined with ore.

DIP                     Angle of inclination of a geological feature/rock from
                        the horizontal.

FAULT                   The surface of a fracture along which movement has
                        occurred.

FLOTATION               The process by which the surface chemistry of the
                        desired mineral particles is chemically modified such
                        that they preferentially attach themselves to bubbles
                        and float to the pulp surface in specially designed
                        machines. The gangue or waste minerals are chemically
                        depressed and do not float, thus allowing the valuable
                        minerals to be concentrated and separated from the
                        undesired material.

FOOTWALL                The underlying side of an orebody or stope.

GANGUE                  Non-valuable components of the ore.

GRADE                   The measure of concentration of gold within mineralized
                        rock.

HANGINGWALL             The overlying side of an orebody or slope.

HAULAGE                 A horizontal underground excavation which is used to
                        transport mined ore.

HYDROCYCLONE            A process whereby material is graded according to size
                        by exploiting centrifugal forces of particulate
                        materials.

IGNEOUS                 Primary crystalline rock formed by the solidification of
                        magma.

KRIGING                 An interpolation method of assigning values from samples
                        to blocks that minimizes the estimation error.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                            Page 105
--------------------------------------------------------------------------------

LENTICULAR              In the form of elongated lenses.

LEVEL                   Horizontal tunnel the primary purpose is the
                        transportation of personnel and materials.

LITHOLOGICAL            Geological description pertaining to different rock
                        types.

LOM PLANS               Life-of-Mine plans.

LRP                     Long Range Plan.

MATERIAL PROPERTIES     Mine properties.

MILLING                 A general term used to describe the process in which the
                        ore is crushed and ground and subjected to physical or
                        chemical treatment to extract the valuable metals to a
                        concentrate or finished product.

MINERAL/MINING LEASE    A lease area for which mineral rights are held.

MINING ASSETS           The Material Properties and Significant Exploration
                        Properties.

ONGOING CAPITAL         Capital estimates of a routine nature, which is
                        necessary for sustaining operations.

ORE RESERVE             See Mineral Reserve.

PILLAR                  Rock left behind to help support the excavations in an
                        underground mine.

ROM                     Run-of-Mine.

SEDIMENTARY             Pertaining to rocks formed by the accumulation of
                        sediments, formed by the erosion of other rocks.

SHAFT                   An opening cut downwards from the surface for
                        transporting personnel, equipment, supplies, ore and
                        waste.

SILL                    A thin, tabular, horizontal to sub-horizontal body of
                        igneous rock formed by the injection of magma into
                        planar zones of weakness.

SMELTING                A high temperature pyrometallurgical operation conducted
                        in a furnace, in which the valuable metal is collected
                        to a molten matte or dore phase and separated from the
                        gangue components that accumulate in a less dense molten
                        slag phase.

STOPE                   Underground void created by mining.

STRATIGRAPHY            The study of stratified rocks in terms of time and
                        space.

STRIKE                  Direction of line formed by the intersection of strata
                        surfaces with the horizontal plane, always perpendicular
                        to the dip direction.

SULFIDE                 A sulfur bearing mineral.

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>

Kinross Gold Corporation
Independent Technical Report                                            Page 106
--------------------------------------------------------------------------------

TAILINGS                Finely ground waste rock from which valuable minerals or
                        metals have been extracted.

THICKENING              The process of concentrating solid particles in
                        suspension.

TOTAL EXPENDITURE       All expenditures including those of a operating and
                        capital nature.

VARIOGRAM               A statistical representation of the characteristics
                        (usually grade).

     UNITS
     -----

      CDN$              Canadian Dollar
      cm                centimeter
      g                 gram
      g/t               gram per metric tonne - gold concentration
      ha                Hectare
      hrs               hours
      k                 one thousand units
      kg                a kilogram
      km                a kilometer
      koz               one thousand fine troy ounces
      kt                one thousand metric tonnes
      m                 meter
      m2                square meter - measure of area
      m3                cubic metre
      mm                millimetre
      Moz               million troy ounces
      Mt                million metric tonnes
      Mtpa              million metric tonnes per annum
      MW                million watts
      oz                fine troy ounce equaling 31.10348 grams
      t                 metric ton
      tm-3              density measured as metric tonnes per cubic metre
      US$m              million United States Dollars
      US$               United States Dollar
      US$/oz            United States Dollars per fine troy ounce
      US$/t             United States Dollars per tonne
      (0)               Degrees
      (0)C              Degrees centigrade
       %                Percentage

--------------------------------------------------------------------------------
SRK Consulting                                                       March, 2003

<PAGE>









                                   APPENDIX 1

                               CLAIM INFORMATION
<PAGE>








                            PAMOUR PROJECT PROPERTY,

                                CLAIM INFORMATION

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                            Page A-1
------------------------------------------------------------------------------------------------------------------------------------

PAMOUR PROJECT PROPERTY TITLE, AS OF DECEMBER 16, 2002
------------------------------------------------------------------------------------------------------------------------------------
                                                                       SIZE
TENURE    TENURE     PARCEL     DISTRICT  TYPE      MINING   SURFACE   (HA)      TOWNSHIP  OWNER   PROJECT   PROJECT      COMMENTS
PREFIX    NUMBER     NUMBER                         RIGHTS   RIGHTS                                NUMBER    NAME
------------------------------------------------------------------------------------------------------------------------------------
HR        886        6813       SEC       PATENT    N        Y         18.37     DELORO    PJV     463       DOME MINE
HR        888        6813       SEC       PATENT    N        Y         16.92     DELORO    PJV     463       DOME MINE
HR        990        12410      SEC       PATENT    Y        Y         14.16     DELORO    PJV     463       DOME MINE
P         6564       12411      SEC       PATENT    Y        Y         14.04     DELORO    PJV     463       DOME MINE
P         6563       12412      SEC       PATENT    Y        Y         12.91     DELORO    PJV     463       DOME MINE
LO        338        16760      SEC       PATENT    N        Y         17.36     DELORO    PJV     463       DOME MINE
LO        339        16760      SEC       PATENT    N        Y         27.61     DELORO    PJV     463       DOME MINE
LO        340        16760      SEC       PATENT    N        Y         25.50     DELORO    PJV     463       DOME MINE
LO        341        16760      SEC       PATENT    N        Y         16.47     DELORO    PJV     463       DOME MINE
LO        342        16760      SEC       PATENT    N        Y         21.37     DELORO    PJV     463       DOME MINE
HR        1304       18695      SEC       PATENT    N        Y         21.65     DELORO    PJV     463       DOME MINE
P         24475      18730      SEC       PATENT    N        Y         13.96     DELORO    PJV     463       DOME MINE
P         6429       21269      SEC       PATENT    N        Y         8.20      DELORO    PJV     463       DOME MINE
ME        20         21323      SEC       PATENT    N        Y         16.90     DELORO    PJV     463       DOME MINE
ME        21         21323      SEC       PATENT    N        Y         16.39     DELORO    PJV     463       DOME MINE
ME        23         21324      SEC       PATENT    N        Y         18.11     DELORO    PJV     463       DOME MINE
ME        31         21324      SEC       PATENT    N        Y         15.88     DELORO    PJV     463       DOME MINE
ME        54         21325      SEC       PATENT    N        Y         15.28     DELORO    PJV     463       DOME MINE
                     21490      SEC       PATENT    N        Y         13.56     DELORO    PJV     463       DOME MINE
HR        1106       21496      SEC       PATENT    N        Y         16.80     DELORO    PJV     463       DOME MINE
ME        22         23743      SEC       PATENT    N        Y         16.69     DELORO    PJV     463       DOME MINE
HR        841        1663       SND       PATENT    Y        Y         11.74     SHAW      PJV     463       DOME MINE
HR        840        1785       SND       PATENT    Y        Y         13.86     SHAW      PJV     463       DOME MINE
HR        885        6813       SEC       PATENT    N        Y         16.67     SHAW      PJV     463       DOME MINE
HR        887        6813       SEC       PATENT    N        Y         15.90     SHAW      PJV     463       DOME MINE
P         13393      172        WT        PATENT    Y        Y         16.14     TISDALE   PJV     463       DOME MINE
P         14514      187        SND       PATENT    N        Y         0.09      TISDALE   PJV     463       DOME MINE
P         6264       427        WT        PATENT    Y        N         15.99     TISDALE   PJV     463       DOME MINE
                     671        SWS       PATENT    Y        Y         63.99     TISDALE   PJV     463       DOME MINE
                     1447       SND       PATENT    Y        Y         65.56     TISDALE   PJV     463       DOME MINE
P         13166      1522       SND       PATENT    Y        Y         16.09     TISDALE   PJV     463       DOME MINE
P         13165      1523       SND       PATENT    Y        Y         16.24     TISDALE   PJV     463       DOME MINE
P         13164      1524       SND       PATENT    Y        Y         16.24     TISDALE   PJV     463       DOME MINE
P         13108      1589       WT        PATENT    N        Y         16.19     TISDALE   PJV     463       DOME MINE
P         13581      1893       WT        PATENT    N        Y         15.95     TISDALE   PJV     463       DOME MINE
                     2766       SWS       PATENT    Y        Y         64.95     TISDALE   PJV     463       DOME MINE
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                            Page A-2
------------------------------------------------------------------------------------------------------------------------------------




P        12864A     3181      SWS      PATENT        Y        Y        15.94      TISDALE       PJV        463          DOME MINE
P        12866      3182      SWS      PATENT        Y        Y        15.94      TISDALE       PJV        463          DOME MINE
P        13190      3183      SWS      PATENT        N        Y        15.95      TISDALE       PJV        463          DOME MINE
P        13188      3229      WT       PATENT        Y        Y        15.94      TISDALE       PJV        463          DOME MINE
P        12986      3230      SWS      PATENT        Y        Y        15.94      TISDALE       PJV        463          DOME MINE
P        12684      3231      SWS      PATENT        Y        Y        15.94      TISDALE       PJV        463          DOME MINE
P        13128      3327      WT       PATENT        Y        Y        10.36      TISDALE       PJV        463          DOME MINE
P        13125      3460      WT       PATENT        Y        N        16.04      TISDALE       PJV        463          DOME MINE
P        13125      3465      WT       PATENT        N        Y        16.04      TISDALE       PJV        463          DOME MINE
P        13150      3587      WT       PATENT        Y        Y        15.99      TISDALE       PJV        463          DOME MINE
P        13192      4137      SWS      PATENT        Y        Y        16.09      TISDALE       PJV        463          DOME MINE
P        12985      4138      SWS      PATENT        Y        Y        16.09      TISDALE       PJV        463          DOME MINE
P        13191      4140      SWS      PATENT        Y        Y        15.99      TISDALE       PJV        463          DOME MINE
P        12984      4141      SWS      PATENT        Y        Y        15.99      TISDALE       PJV        463          DOME MINE
P        13120      4202      SWS      PATENT        Y        Y        16.42      TISDALE       PJV        463          DOME MINE
P        13190      4675      WT       PATENT        Y        Y        15.95      TISDALE       PJV        463          DOME MINE
P        12971      4765      WT       PATENT        Y        Y        15.91      TISDALE       PJV        463          DOME MINE
P        13848      5145      WT       PATENT        N        Y        1.30       TISDALE       PJV        463          DOME MINE
P        6264       7914      WT       PATENT        N        Y        15.99      TISDALE       PJV        463          DOME MINE
P        13398      8005      WT       PATENT        Y        Y        16.19      TISDALE       PJV        463          DOME MINE
P        13399      8005      WT       PATENT        Y        Y        16.39      TISDALE       PJV        463          DOME MINE
P        13198      8247      WT       PATENT        Y        Y        16.04      TISDALE       PJV        463          DOME MINE
P        13189      8248      WT       PATENT        Y        Y        16.09      TISDALE       PJV        463          DOME MINE
P        13197      8249      WT       PATENT        Y        Y        16.09      TISDALE       PJV        463          DOME MINE
                    9201      WT       PATENT        Y        Y        64.55      TISDALE       PJV        463          DOME MINE
P        13776      11380     WT       PATENT        Y        Y        15.99      TISDALE       PJV        463          DOME MINE
P        13151      11381     WT       PATENT        Y        Y        16.03      TISDALE       PJV        463          DOME MINE
P        13152      11382     WT       PATENT        Y        Y        15.99      TISDALE       PJV        463          DOME MINE
P        13149      11383     WT       PATENT        Y        Y        15.99      TISDALE       PJV        463          DOME MINE
P        331        14036     WT       PATENT        N        Y        16.19      TISDALE       PJV        463          DOME MINE
P        6262       14036     WT       PATENT        N        Y        15.99      TISDALE       PJV        463          DOME MINE
P        13085      14036     WT       PATENT        N        Y        16.19      TISDALE       PJV        463          DOME MINE
P        13089      14036     WT       PATENT        N        Y        15.99      TISDALE       PJV        463          DOME MINE
P        13134      14036     WT       PATENT        N        Y        15.99      TISDALE       PJV        463          DOME MINE
P        13147      14036     WT       PATENT        N        Y        15.99      TISDALE       PJV        463          DOME MINE
P        13140      14036     WT       PATENT        N        Y        15.99      TISDALE       PJV        463          DOME MINE
P        13159      14036     WT       PATENT        N        Y        15.99      TISDALE       PJV        463          DOME MINE
P        13160      14036     WT       PATENT        N        Y        16.19      TISDALE       PJV        463          DOME MINE
P        13600      14036     WT       PATENT        N        Y        15.99      TISDALE       PJV        463          DOME MINE
P        13601      14036     WT       PATENT        N        Y        15.99      TISDALE       PJV        463          DOME MINE
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                            Page A-3
------------------------------------------------------------------------------------------------------------------------------------


P     13139       13923     WT       PATENT        N        Y   16.00      WHITNEY       PJV       463         DOME MINE
P     13138       13923     WT       PATENT        N        Y   16.00      WHITNEY       PJV       463         DOME MINE
P     1240737                        STAKED        Y        N   16.00      WHITNEY       PJV       463         DOME MINE
P     1204738                        STAKED        Y        N   16.00      WHITNEY       PJV       463         DOME MINE
                                                                                                               SCHUMACHER MINE &
P     1036154                        STAKED        Y        N   16.00      TISDALE       PJV       1202        STAKED
                  8110      WT       PATENT        Y        Y   64.75      TISDALE       PJV       1209        PORCUPINE JV
P     12808       8112      WT       PATENT        Y        Y   16.24      TISDALE       PJV       1209        PORCUPINE JV
P     12891       8112      WT       PATENT        Y        Y   16.24      TISDALE       PJV       1209        PORCUPINE JV
P     12978       8112      WT       PATENT        Y        Y   16.04      TISDALE       PJV       1209        PORCUPINE JV
                  8114      WT       PATENT        Y        Y   4.05       TISDALE       PJV       1209        PORCUPINE JV
P     1218640                        STAKED        Y        N   16.00      TISDALE       PJV       1213        TISDALE 96
P                 4736      WT       PATENT        Y        Y   64.75      WHITNEY       PJV       1301        HALLNOR 2
P                 7798      WT       PATENT        N        Y   64.55      WHITNEY       PJV       1301        HALLNOR 2
P                 7799      WT       PATENT        N        Y   64.55      WHITNEY       PJV       1301        HALLNOR 2
P                 13094     WT       PATENT        Y        N   N/A        WHITNEY       PJV       1301        HALLNOR 2
P                 629       SND      PATENT        Y        Y   64.75      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P                 630       SND      PATENT        Y        Y   64.75      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     7782        1116      WT       PATENT        Y        Y   16.34      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     7691        1117      WT       PATENT        Y        Y   16.34      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     8038        1118      WT       PATENT        Y        Y   16.24      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P                 1876      LC       LEASE         Y        N   32.00      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
                  3269      LO       LO            Y        N   15.00      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     1379        3509      WT       PATENT        Y        Y   16.19      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     13789       3509      WT       PATENT        Y        Y   30.35      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     13792       3509      WT       PATENT        Y        Y   16.19      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     13791       3509      WT       PATENT        Y        Y   16.19      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     14200       3509      WT       PATENT        Y        Y   16.19      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     14201       3509      WT       PATENT        Y        Y   16.19      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     14828       3512      WT       PATENT        Y        Y   17.00      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     135??       3512      WT       PATENT        Y        Y   17.00      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     14248       3795      WT       PATENT        Y        N   16.39      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
                  4498      SWS      PATENT        Y        Y   16.39      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     13785       4499      SWS      PATENT        N        Y   16.19      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     13783       4500      SWS      PATENT        Y        Y   16.19      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     13784       4501      SWS      PATENT        Y        Y   16.24      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     18533       4749      WT       PATENT        N        Y   16.07      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     18534       4750      WT       PATENT        N        Y   16.31      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     18535       4751      WT       PATENT        Y        Y   16.19      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
P     18536       4752      WT       PATENT        Y        Y   16.51      WHITNEY       PJV       1302        PAMOUR 1 & STAKED
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                            Page A-1
------------------------------------------------------------------------------------------------------------------------------------


P       18537       4753      WT      PATENT      Y        Y        16.19     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       18538       4754      WT      PATENT      Y        Y        16.61     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       18539       4755      WT      PATENT      Y        Y        16.19     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       18540       4756      WT      PATENT      Y        Y        16.19     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       18541       4757      WT      PATENT      Y        Y        16.19     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       18503       5052      WT      PATENT      Y        Y        16.19     WHITNEY        PJV       1306     THREE NATION
P       18529       5062      WT      PATENT      Y        Y        15.96     WHITNEY        PJV       1306     THREE NATION
P       18504       5063      WT      PATENT      Y        Y        7.08      WHITNEY        PJV       1306     THREE NATION
P                   5360      WT      PATENT      N        Y        16.19     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   5361      WT      PATENT      N        Y        16.19     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       14095       8107      WT      PATENT      Y        Y        16.24     WHITNEY        PJV       1209     PORCUPINE JV
P       14096       8108      WT      PATENT      Y        Y        16.04     WHITNEY        PJV       1209     PORCUPINE JV
P                   8969      WT      PATENT      N        Y        0.05      WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   8973      WT      PATENT      N        Y        0.04      WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   9032      WT      PATENT      N        Y        2.09      WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   9033      WT      PATENT      N        Y        0.75      WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   9034      WT      PATENT      N        Y        0.13      WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   9096      WT      PATENT      N        Y        2.69      WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       51269       9922      WT      PATENT      Y        N        16.24     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   9923      WT      PATENT      Y        N        16.24     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       13206       10438     WT      PATENT      Y        Y        16.74     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       13205       10439     WT      PATENT      Y        Y        16.74     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   12875     WT      PATENT      N        Y        16.24     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   12904     WT      PATENT      N        Y        0.01      WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   13109     WT      PATENT      Y        N        16.19     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   13110     WT      PATENT      Y        N        16.19     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   13111     WT      PATENT      Y        N        16.19     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   13238     WT      PATENT      N        Y        0.02      WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P                   13241     WT      PATENT      N        Y        0.03      WHITNEY        PJV       1302     PAMOUR 1 & STAKED
                    14341     WT      PATENT      Y        Y        16.24     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       18539       8966      WT      PATENT      N        Y        16.19     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       1218639                       STAKED      Y        N        16.00     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       1218642                       STAKED      Y        N        16.00     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       1218644                       STAKED      Y        N        16.00     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       1231013                       STAKED      Y        N        16.00     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       1248936                       STAKED      Y        N        16.00     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       3003307                       STAKED      Y        N        16.00     WHITNEY        PJV       1302     PAMOUR 1 & STAKED
P       2702        245       WT      PATENT      Y        Y        16.39     WHITNEY        PJV       1303     HOYLE JV
P       2703        246       WT      PATENT      Y        Y        16.34     WHITNEY        PJV       1303     HOYLE JV
P       2700        247       WT      PATENT      Y        Y        16.19     WHITNEY        PJV       1303     HOYLE JV
</TABLE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                            Page A-5
------------------------------------------------------------------------------------------------------------------------------------

P        2701       248      WT       PATENT        Y        Y        16.19      WHITNEY       PJV        1303          HOYLE JV
P        2705       249      WT       PATENT        Y        Y        16.39      WHITNEY       PJV        1303          HOYLE JV
P        2704       250      WT       PATENT        Y        Y        16.39      WHITNEY       PJV        1303          HOYLE JV
P        95382      736      LC       LEASE         Y        N        16.34      WHITNEY       PJV        1303          HOYLE JV
P        95533      736      LC       LEASE         Y        N        16.34      WHITNEY       PJV        1303          HOYLE JV
P        95534      736      LC       LEASE         Y        N        16.34      WHITNEY       PJV        1303          HOYLE JV
P        95543      736      LC       LEASE         Y        N        16.34      WHITNEY       PJV        1303          HOYLE JV
P        9227       2690     WT       PATENT        Y        Y        16.19      WHITNEY       PJV        1303          HOYLE JV
P        9231       2691     WT       PATENT        Y        Y        16.19      WHITNEY       PJV        1303          HOYLE JV
P        9228       2694     WT       PATENT        Y        Y        16.29      WHITNEY       PJV        1303          HOYLE JV
P        7585       3919     WT       PATENT        Y        Y        16.34      WHITNEY       PJV        1303          HOYLE JV
P        7674       3919     WT       PATENT        Y        Y        16.34      WHITNEY       PJV        1303          HOYLE JV
P        3571       3987     WT       PATENT        Y        Y        16.24      WHITNEY       PJV        1303          HOYLE JV
P        7673       9448     WT       PATENT        Y        Y        16.34      WHITNEY       PJV        1303          HOYLE JV
P        95382      9840     WT       PATENT        N        Y        16.34      WHITNEY       PJV        1303          HOYLE JV
P        95533      9840     WT       PATENT        N        Y        16.34      WHITNEY       PJV        1303          HOYLE JV
P        95534      9840     WT       PATENT        N        Y        16.34      WHITNEY       PJV        1303          HOYLE JV
P        95543      9840     WT       PATENT        N        Y        16.34      WHITNEY       PJV        1303          HOYLE JV
P        1193       13790    WT       PATENT        Y        Y        16.44      WHITNEY       PJV        1307          BROULAN
P        1309       13790    WT       PATENT        Y        Y        16.44      WHITNEY       PJV        1307          BROULAN
P        1780       13790    WT       PATENT        Y        Y        16.19      WHITNEY       PJV        1307          BROULAN
P        6578       13790    WT       PATENT        Y        Y        16.14      WHITNEY       PJV        1307          BROULAN
P        7640       13790    WT       PATENT        Y        Y        16.44      WHITNEY       PJV        1307          BROULAN
P        12575      13790    WT       PATENT        Y        Y        16.59      WHITNEY       PJV        1307          BROULAN
P        12576      13790    WT       PATENT        Y        Y        16.59      WHITNEY       PJV        1307          BROULAN
P        12691      13790    WT       PATENT        Y        Y        16.24      WHITNEY       PJV        1307          BROULAN
P        12692      13790    WT       PATENT        Y        Y        16.24      WHITNEY       PJV        1307          BROULAN
P        12693      13790    WT       PATENT        Y        Y        15.78      WHITNEY       PJV        1307          BROULAN
P        12694      13790    WT       PATENT        Y        Y        15.78      WHITNEY       PJV        1307          BROULAN
P        12708      13790    WT       PATENT        Y        Y        15.99      WHITNEY       PJV        1307          BROULAN
P        12709      13790    WT       PATENT        Y        Y        15.58      WHITNEY       PJV        1307          BROULAN
P        12727      13790    WT       PATENT        Y        Y        16.14      WHITNEY       PJV        1307          BROULAN
P        12743      13790    WT       PATENT        Y        Y        16.19      WHITNEY       PJV        1307          BROULAN
P        12804      13790    WT       PATENT        Y        Y        16.24      WHITNEY       PJV        1307          BROULAN
P        12805      13790    WT       PATENT        Y        Y        16.24      WHITNEY       PJV        1307          BROULAN
P        13086      13790    WT       PATENT        Y        N        16.29      WHITNEY       PJV        1307          BROULAN
P        13087      13790    WT       PATENT        Y        Y        16.44      WHITNEY       PJV        1307          BROULAN
P        13090      13790    WT       PATENT        Y        Y        16.19      WHITNEY       PJV        1307          BROULAN
P        13091      13790    WT       PATENT        Y        Y        15.58      WHITNEY       PJV        1307          BROULAN
P        13095      13790    WT       PATENT        Y        N        16.27      WHITNEY       PJV        1307          BROULAN
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                            Page A-6
------------------------------------------------------------------------------------------------------------------------------------

P     13096       13790    WT       PATENT        Y        Y        15.99      WHITNEY      PJV          1307     BROULAN
P     13097       13790    WT       PATENT        Y        Y        16.44      WHITNEY      PJV          1307     BROULAN
P     13170       13790    WT       PATENT        Y        Y        16.19      WHITNEY      PJV          1307     BROULAN
P     13171       13790    WT       PATENT        Y        Y        16.19      WHITNEY      PJV          1307     BROULAN
P     13794       13790    WT       PATENT        Y        N        16.19      WHITNEY      PJV          1307     BROULAN
P     13943       13790    WT       PATENT        Y        N        16.19      WHITNEY      PJV          1307     BROULAN
P     14202       13790    WT       PATENT        Y        Y        18.11      WHITNEY      PJV          1307     BROULAN
P     14566       13790    WT       PATENT        Y        Y        16.44      WHITNEY      PJV          1307     BROULAN
P     14597       13790    WT       PATENT        Y        Y        16.19      WHITNEY      PJV          1307     BROULAN
P     14601       13790    WT       PATENT        Y        Y        16.19      WHITNEY      PJV          1307     BROULAN
P     14843       13790    WT       PATENT        Y        Y        16.19      WHITNEY      PJV          1307     BROULAN
P     14908       13790    WT       PATENT        Y        Y        16.49      WHITNEY      PJV          1307     BROULAN
P     14909       13790    WT       PATENT        N        Y        17.60      WHITNEY      PJV          1307     BROULAN
P     14909       13790    WT       PATENT        Y        N        35.21      WHITNEY      PJV          1307     BROULAN
P     14932.5     13790    WT       PATENT        Y        Y        16.49      WHITNEY      PJV          1307     BROULAN
P     14933.5     13790    WT       PATENT        Y        Y        16.49      WHITNEY      PJV          1307     BROULAN
P     18522       13790    WT       PATENT        Y        Y        15.45      WHITNEY      PJV          1307     BROULAN
P     18523       13790    WT       PATENT        Y        Y        14.89      WHITNEY      PJV          1307     BROULAN
P     18524       13790    WT       PATENT        Y        Y        15.05      WHITNEY      PJV          1307     BROULAN
P     18685       13790    WT       PATENT        Y        N        16.19      WHITNEY      PJV          1307     BROULAN
P     18686       13790    WT       PATENT        Y        Y        16.88      WHITNEY      PJV          1307     BROULAN
P     18995       13790    WT       PATENT        Y        Y        16.19      WHITNEY      PJV          1307     BROULAN
P     18996       13790    WT       PATENT        Y        Y        16.49      WHITNEY      PJV          1307     BROULAN
P     1128986                       STAKED        Y        N        16.00      WHITNEY      PJV          1308     SOUTH OF HOYLE S
P     1201575                       STAKED        Y        N        64.00      WHITNEY      PJV          1308     SOUTH OF HOYLE S
P     1204394                       STAKED        Y        N        64.00      WHITNEY      PJV          1308     SOUTH OF HOYLE S
P     1204397                       STAKED        Y        N        16.00      WHITNEY      PJV          1308     SOUTH OF HOYLE S
P     789905                        STAKED        Y        N        16.00      TISDALE      MEUNIER      1310     MEUNIER JV
P     12914       3003     WT       PATENT        Y        Y        15.78      WHITNEY      PJV          1310     MEUNIER JV
P     753442                        STAKED        Y        N        16.00      WHITNEY      MEUNIER      1310     MEUNIER JV
P     783671                        STAKED        Y        N        16.00      WHITNEY      MEUNIER      1310     MEUNIER JV
P     783672                        STAKED        Y        N        16.00      WHITNEY      MEUNIER      1310     MEUNIER JV
P     915947                        STAKED        Y        N        16.00      WHITNEY      MEUNIER      1310     MEUNIER JV
P     1028991                       STAKED        Y        N        16.00      WHITNEY      MEUNIER      1310     MEUNIER JV
P                 798      LC       LEASE         Y        N        64.76      HOYLE        PJV          1800     HOYLEPOND OPS
P                 1546     LC       LEASE         N        Y        64.75      HOYLE        PJV          1800     HOYLEPOND OPS
P                 5132     SEC      PATENT        Y        Y        64.75      HOYLE        PJV          1800     HOYLEPOND OPS
P                 6302     SEC      PATENT        Y        N        64.75      HOYLE        PJV          1800     HOYLEPOND OPS
P                 9092     SEC      PATENT        N        Y        64.75      HOYLE        PJV          1800     HOYLEPOND OPS
P                16480     SEC      PATENT        Y        Y        62.73      HOYLE        PJV          1800     HOYLEPOND OPS
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                            Page A-7
------------------------------------------------------------------------------------------------------------------------------------




P                   17092     SEC     PATENT         Y        Y       64.75       HOYLE         PJV       1800      HOYLEPOND OPS
P                   22896     SEC     PATENT         Y        Y       32.38       HOYLE         PJV       1800      HOYLEPOND OPS
P                   22931     SEC     PATENT         Y        Y       161.88      HOYLE         PJV       1800      HOYLEPOND OPS
P       1202996     1876      LC      LEASE          Y        N       32.00       WHITNEY       PJV       1800      HOYLEPOND OPS
P       1202996     10832     WT      PATENT         N        Y       32.00       WHITNEY       PJV       1800      HOYLEPOND OPS
P       1236909                       STAKED         Y        N       16.00       TISDALE       PJV       2103      WHITNEY 2
P       567943      1612      LC      PATENT         Y        N       16.45       WHITNEY       PJV       2103      WHITNEY 2
P       567949      1612      LC      PATENT         Y        N       16.04       WHITNEY       PJV       2103      WHITNEY 2
P       567954      1612      LC      PATENT         Y        N       16.45       WHITNEY       PJV       2103      WHITNEY 2
P       1229276                       STAKED         Y        N       16.00       TISDALE       PJV       2804      TISDALE 1
        1228930                       STAKED         Y        N       32.00       TISDALE       PJV       2805      TISDALE 2
P       1228931                       STAKED         Y        N       64.00       TISDALE       PJV       2806      TISDALE 3
P       1228932                       STAKED         Y        N       16.00       TISDALE       PJV       2806      TISDALE 3
</TABLE>

<PAGE>








                                HOYLE POND MINE,

                                CLAIM INFORMATION

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                            Page A-9
------------------------------------------------------------------------------------------------------------------------------------

HOYLE POND COMPLEX PROPERTY TITLES, AS OF FEBRUARY 25, 2003
------------------------------------------------------------------------------------------------------------------------------------
                                                             SIZE
TENURE  TENURE  PARCEL   DISTRICT TYPE     MINING  SURFACE   (HA)     TOWNSHIP OWNER      PROJECT    PROJECT           COMMENTS
PREFIX  NUMBER  NUMBER                     RIGHTS  RIGHTS                                 NUMBER     NAME
------------------------------------------------------------------------------------------------------------------------------------
                155      LC       LEASE    YES     NO        64.76    HOYLE    PJV        1800       Hoylepond Ops
                156      LC       LEASE    YES     NO        64.75    HOYLE    PJV        2202       Broulan
                460      SND      PATENT   YES     NO        64.95    HOYLE    PJV        2101       Prentice
                798      LC       LEASE    YES     NO        126.28   HOYLE    PJV        1800       Hoylepond Ops
                1121     LC       LEASE    YES     YES       32.38    HOYLE    PJV        1800       Hoylepond Ops
                1132     LC       LEASE    YES     YES       64.76    HOYLE    PJV        1800       Hoylepond Ops
                1338     LC       LEASE    YES     YES       127.53   HOYLE    PJV        1800       Hoylepond Ops
                                                                                          1800       Hoylepond Ops
                                                                                                     & Hoyle

                1421     LC       LEASE    YES     YES       292.54   HOYLE    PJV        &3005      5
                1546     LC       LEASE    NO      YES       64.75    HOYLE    PJV        1800       Hoylepond Ops
                1755     SEC      PATENT   YES     NO        64.95    HOYLE    PJV        1800       Hoylepond Ops
                1812     LC       LEASE    YES     NO        64.76    HOYLE    PJV        1800       Hoylepond Ops
                1829     LC       LEASE    YES     NO        64.75    HOYLE    PJV        1800       Hoylepond Ops
                1831     LC       LEASE    YES     NO        0.5      HOYLE    PJV        1800       Hoylepond Ops
                1832     LC       LEASE    YES     NO        32.38    HOYLE    PJV        1800       Hoylepond Ops
                1834     LC       LEASE    YES     NO        28       HOYLE    PJV        1800       Hoylepond Ops
                3074     SWS      PATENT   NO      NO        64.75    HOYLE    SCHUMACHER 1800       Hoylepond Ops    MINING LEASE
                                                                                                                      ONLY active
                                                                                                                      mining
                3559     SEC      PATENT   NO      YES       64.14    HOYLE    PJV        1800       Hoylepond Ops
                5132     SEC      PATENT   YES     YES       64.75    HOYLE    PJV        1800       Hoylepond Ops
                6302     SEC      PATENT   YES     NO        64.75    HOYLE    PJV        1800       Hoylepond Ops
                9083     SEC      PATENT   YES     YES       62.73    HOYLE    PJV        2205       Dommel
                9088     SEC      PATENT   YES     YES       63.74    HOYLE    PJV        1800       Hoylepond Ops
                9092     SEC      PATENT   NO      YES       64.75    HOYLE    PJV        1800       Hoylepond Ops
                10568    SEC      PATENT   YES     NO        64.75    HOYLE    PJV        2204       Stringer
                12140    SEC      PATENT   YES     NO        64.95    HOYLE    PJV        2102       Wetmore
                12148    SEC      PATENT   YES     YES       16.24    HOYLE    PJV        2102       Wetmore
                12149    SEC      PATENT   YES     YES       16.24    HOYLE    PJV        2102       Wetmore
                12150    SEC      PATENT   YES     YES       16.24    HOYLE    PJV        2102       Wetmore
                12151    SEC      PATENT   YES     YES       16.24    HOYLE    PJV        2102       Wetmore
                13435    SEC      PATENT   YES     NO        64.14    HOYLE    PJV        1800       Hoylepond Ops
                13436    SEC      PATENT   YES     YES       48.56    HOYLE    PJV        2203       Marlhill         active mining
                15125    SEC      PATENT   NO      YES       16.19    HOYLE    PJV        1800       Hoylepond Ops
                15503    SEC      PATENT   NO      YES       16.19    HOYLE    PJV        1800       Hoylepond Ops
                15504    SEC      PATENT   NO      YES       64.75    HOYLE    PJV        2002       Fisher
                16480    SEC      PATENT   YES     YES       62.73    HOYLE    PJV        1800       Hoylepond Ops
                17091    SEC      PATENT   YES     YES       64.75    HOYLE    PJV        1800       Hoylepond Ops    active mining
                17092    SEC      PATENT   YES     YES       64.75    HOYLE    PJV        1800       Hoylepond Ops    active mining
                18797    SEC      PATENT   NO      YES       64.95    HOYLE    PJV        1800       Hoylepond Ops
                22896    SEC      PATENT   YES     YES       32.38    HOYLE    PJV        1800       Hoylepond Ops
                22926    SEC      PATENT   YES     NO        64.55    HOYLE    PJV        1800       Hoylepond Ops
                22931    SEC      PATENT   YES     YES       161.88   HOYLE    PJV        1800       Hoylepond Ops
                24053    SEC      PATENT   NO      YES       64.75    HOYLE    PJV        2201       Marlhill Mine
                24055    SEC      PATENT   YES     NO        64.75    HOYLE    PJV        1800       Hoylepond Ops
                24169    SEC      PATENT   NO      YES       1.6      HOYLE    PJV        1800       Hoylepond Ops
                24182    SEC      PATENT   YES     NO        64.55    HOYLE    PJV        1800       Hoylepond Ops
                24183    SEC      PATENT   YES     NO        64.55    HOYLE    PJV        1800       Hoylepond Ops
                24226    SEC      PATENT   YES     NO        32.38    HOYLE    PJV        1800       Hoylepond Ops
</TABLE>

<PAGE>








                                   DOME MINE,

                               CLAIM INFORMATION

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                           Page A-11
------------------------------------------------------------------------------------------------------------------------------------

DOME MINE PROPERTY LIST, AS OF FEBRUARY 25, 2003
------------------------------------------------------------------------------------------------------------------------------------
                                                                   SIZE
TENURE  TENURE   PARCEL    DISTRICT   TYPE     MINING   SURFACE    (HA)      TOWNSHIP  OWNER   PROJECT           COMMENTS
PREFIX  NUMBER   NUMBER                        RIGHTS   RIGHTS                                 NUMBER
------------------------------------------------------------------------------------------------------------------------------------
ED      ED98     2512      SEC        PATENT   YES      YES        7.2       DELORO    PJV     463
HF      HF361    11451     SEC        PATENT   NO       YES        18.29     DELORO    PJV     463        Diepdaume-Sheridan Agree
HF      HF361    11677     SEC        PATENT   NO       YES        16        DELORO    PJV     463
HF      HF390    3877      SEC        PATENT   YES      YES        1.7       DELORO    PJV     463
HF      HF392    2242      SEC        PATENT   YES      NO         6.76      DELORO    PJV     463        Diepdaume-Sheridan Agree
HF      HF393    2243      SEC        PATENT   YES      NO         6.64      DELORO    PJV     463        Diepdaume-Sheridan Agree
HR      HF886    6813      SEC        PATENT   NO       YES        18.37     DELORO    PJV     463
HR      HR1010   13257     SEC        PATENT   YES      NO         1.42      DELORO    PJV     463
HR      HR1104   21494     SEC        PATENT   NO       YES        17.71     DELORO    PJV     463
HR      HR1105   21495     SEC        PATENT   NO       YES        13.96     DELORO    PJV     463
HR      HR1106   21496     SEC        PATENT   NO       YES        16.8      DELORO    PJV     463
HR      HR1304   18695     SEC        PATENT   NO       YES        21.65     DELORO    PJV     463
HR      HR1305   18696     SEC        PATENT   NO       YES        17.6      DELORO    PJV     463
HR      HR826    1248      SEC        PATENT   YES      NO         20.13     DELORO    PJV     463
HR      HR826    24003     SEC        PATENT   NO       YES        20.13     DELORO    PJV     463
HR      HR847A   275       SEC        PATENT   YES      YES        5.06      DELORO    PJV     463
HR      HR888    6813      SEC        PATENT   NO       YES        16.92     DELORO    PJV     463
HR      HR907    3298      SEC        PATENT   YES      NO         14.27     DELORO    PJV     463        Diepdaume-Sheridan Agree
HR      HR908    2440      SEC        PATENT   YES      NO         10.12     DELORO    PJV     463
HR      HR990    12410     SEC        PATENT   YES      NO         14.16     DELORO    PJV     463
HR      HR990    21226     SEC        PATENT   NO       YES        14.16     DELORO    PJV     463
HR      HR992    21490     SEC        PATENT   NO       YES        13.56     DELORO    PJV     463
HS      HS747    15188     SEC        PATENT   YES      YES        15.42     DELORO    PJV     463
HS      HS748    15187     SEC        PATENT   YES      YES        17.89     DELORO    PJV     463
HS      HS749    15189     SEC        PATENT   YES      YES        14.69     DELORO    PJV     463
LO      LO320    2477      SEC        PATENT   YES      YES        14.33     DELORO    PJV     463
LO      LO321    2526      SEC        PATENT   YES      YES        8.98      DELORO    PJV     463
LO      LO322    2527      SEC        PATENT   YES      YES        16.51     DELORO    PJV     463
LO      LO323    12        SEC        PATENT   YES      YES        15.48     DELORO    PJV     463
LO      LO324    3354      SEC        PATENT   YES      NO         4.69      DELORO    PJV     463        Diepdaume-Sheridan Agree
LO      LO325    9729      SEC        PATENT   YES      NO         3.44      DELORO    PJV     463        Diepdaume-Sheridan Agree
LO      LO327    3299      SEC        PATENT   YES      NO         13.03     DELORO    PJV     463        Diepdaume-Sheridan Agree
LO      LO328    3300      SEC        PATENT   YES      NO         12.14     DELORO    PJV     463        Diepdaume-Sheridan Agree
LO      LO338    16760     SEC        PATENT   NO       YES        17.36     DELORO    PJV     463
LO      LO339    16760     SEC        PATENT   NO       YES        27.61     DELORO    PJV     463
LO      LO340    16760     SEC        PATENT   NO       YES        25.5      DELORO    PJV     463
LO      LO341    16760     SEC        PATENT   NO       YES        16.47     DELORO    PJV     463
LO      LO342    16760     SEC        PATENT   NO       YES        21.37     DELORO    PJV     463
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                           Page A-12
------------------------------------------------------------------------------------------------------------------------------------

ME     ME15     2441       SEC     PATENT        YES      YES       17.6    DELORO    PJV       463
ME     ME20     21323      SEC     PATENT        NO       YES       16.9    DELORO    PJV       463
ME     ME21     21323      SEC     PATENT        NO       YES       16.39   DELORO    PJV       463
ME     ME22     23743      SEC     PATENT        NO       YES       16.69   DELORO    PJV       463
ME     ME23     21324      SEC     PATENT        NO       YES       18.11   DELORO    PJV       463
ME     ME29     23743      SEC     PATENT        NO       YES       16.39   DELORO    PJV       463
ME     ME30     23744      SEC     PATENT        NO       YES       17.2    DELORO    PJV       463
ME     ME31     21324      SEC     PATENT        NO       YES       15.88   DELORO    PJV       463
ME     ME54     21325      SEC     PATENT        NO       YES       15.28   DELORO    PJV       463
P      P24475   18730      SEC     PATENT        NO       YES       13.96   DELORO    PJV       463
P      P6429    21269      SEC     PATENT        NO       YES       8.2     DELORO    PJV       463
P      P6563    12412      SEC     PATENT        YES      NO        12.91   DELORO    PJV       463
P      P6563    21228      SEC     PATENT        NO       YES       12.91   DELORO    PJV       463
P      P6564    12411      SEC     PATENT        YES      NO        14.04   DELORO    PJV       463
P      P6564    21227      SEC     PATENT        NO       YES       14.04   DELORO    PJV       463
P      P8141    18710      SEC     PATENT        NO       YES       15.42   DELORO    PJV       463
RSC    RSC177   8282       SEC     PATENT        YES      YES       1.5     DELORO    PJV       463
                24241      SEC     PATENT        NO       YES       16      DELORO    PJV       463       Diepdaume-Sheridan Agree
                24242      SEC     PATENT        NO       YES       16      DELORO    PJV       463       Diepdaume-Sheridan Agree
                24243      SEC     PATENT        NO       YES       16      DELORO    PJV       463       Diepdaume-Sheridan Agree
                24244      SEC     PATENT        NO       YES       16      DELORO    PJV       463       Diepdaume-Sheridan Agree
                24245      SEC     PATENT        NO       YES       16      DELORO    PJV       463       Diepdaume-Sheridan Agree
                24246      SEC     PATENT        NO       YES       16      DELORO    PJV       463       Diepdaume-Sheridan Agree
                24247      SEC     PATENT        NO       YES       16      DELORO    PJV       463       Diepdaume-Sheridan Agree
                688664     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                688665     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                688677     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                688678     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                688679     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                688688     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                688689     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                688690     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                688698     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                688699     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                688700     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                764451     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                764452     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                949059     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                949060     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                949302     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                949303     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                949304     P       UNPATENTED    YES      NO        16      DELORO    PJV       463
                1180716    P       UNPATENTED    YES      NO        112     DELORO    PJV       463
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                           Page A-13
------------------------------------------------------------------------------------------------------------------------------------

                1180846    P     UNPATENTED    YES      NO        48        DELORO         PJV    463
                1180848    P     UNPATENTED    YES      NO        15        DELORO         PJV    463
                1180851    P     UNPATENTED    YES      NO        256       DELORO         PJV    463
                1180855    P     UNPATENTED    YES      NO        144       DELORO         PJV    463
                1189913    P     UNPATENTED    YES      NO        32        DELORO         PJV    463
                1193358    P     UNPATENTED    YES      NO        64        DELORO         PJV    463
                1193359    P     UNPATENTED    YES      NO        16        DELORO         PJV    463
                1201138    P     UNPATENTED    YES      NO        16        DELORO         PJV    463
                1201195    P     UNPATENTED    YES      NO        32        DELORO         PJV    463
                1206931    P     UNPATENTED    YES      NO        48        DELORO         PJV    463
                1207417    P     UNPATENTED    YES      NO        16        DELORO         PJV    463
                1212619    P     UNPATENTED    YES      NO        32        DELORO         PJV    463
                1213181    P     UNPATENTED    YES      NO        16        DELORO         PJV    463
                1213233    P     UNPATENTED    YES      NO        16        DELORO         PJV    463
                1213234    P     UNPATENTED    YES      NO        32        DELORO         PJV    463
                1226410    P     UNPATENTED    YES      NO        16        DELORO         PJV    463
RY    180       1343       LC    LEASE         NO       YES       371.94    Deloro/shaw    PJV    463
HR    HR979     1573       SND   PATENT        NO       YES       0.61      SHAW           PJV    463
HR    HR982     1577       SND   PATENT        NO       YES       0.19      SHAW           PJV    463
HR    HR        1663       SND   PATENT        YES      YES       11.74     SHAW           PJV    463
HR    HR840     1785       SEC   PATENT        YES      YES       13.86     SHAW           PJV    463
HR    HR1031    4409       SEC   PATENT        YES      YES       18.33     SHAW           PJV    463
HR    HR1030    4410       SEC   PATENT        YES      YES       18.97     SHAW           PJV    463       Nighthawk Timber lease
HR    HR1028    5737       SEC   PATENT        YES      YES       18.9      SHAW           PJV    463
P     P18296    5775       SEC   PATENT        YES      YES       18.68     SHAW           PJV    463
HR    HR885     6813       SEC   PATENT        NO       YES       16.67     SHAW           PJV    463
HR    HR887     6813       SEC   PATENT        NO       YES       15.9      SHAW           PJV    463
HR    HR889     6813       SEC   PATENT        NO       YES       15.9      SHAW           PJV    463
HR    HR1038    7443       SEC   PATENT        YES      YES       15.38     SHAW           PJV    463
TC    TC608     7471       SEC   PATENT        YES      YES       17.77     SHAW           PJV    463
TC    TC607     7480       SEC   PATENT        YES      YES       17.32     SHAW           PJV    463
P     P16332    23247      SEC   PATENT        NO       YES       8.38      SHAW           PJV    463
                1213231    P     UNPATENTED    YES      NO        64        SHAW           PJV    463
                1213232    P     UNPATENTED    YES      NO        32        SHAW           PJV    463
                1213573    P     UNPATENTED    YES      NO        32        SHAW           PJV    463
P     P13394    170        W+T   PATENT        YES      YES       16.14     TISDALE        PJV    463
P     P13396    171        W+T   PATENT        YES      YES       16.34     TISDALE        PJV    463
P     P13393    172        W+T   PATENT        YES      YES       16.14     TISDALE        PJV    463
P     P13397    173        W+T   PATENT        YES      YES       16.34     TISDALE        PJV    463
P     P14514    187        SND   PATENT        NO       YES       0.09      TISDALE        PJV    463
P     P13127    249        SND   PATENT        YES      YES       13.91     TISDALE        PJV    463
P     P13181    270        W+T   PATENT        YES      YES       16.14     TISDALE        PJV    463
P     P13177    271        W+T   PATENT        YES      YES       16.14     TISDALE        PJV    463
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                           Page A-14
------------------------------------------------------------------------------------------------------------------------------------

P       P6264     427      W+T   PATENT    YES    NO        15.99      TISDALE       PJV       463       Diepdaume-Sheridan Agree
SWS     SWS946    1447     SND   PATENT    YES    YES       65.56      TISDALE       PJV       463
P       P13562    1503     SND   PATENT    YES    YES       16.04      TISDALE       PJV       463
P       P13563    1504     SND   PATENT    YES    YES       16.04      TISDALE       PJV       463
P       P13166    1522     SND   PATENT    YES    YES       16.09      TISDALE       PJV       463
P       P13165    1523     SND   PATENT    YES    YES       16.24      TISDALE       PJV       463
P       P13164    1524     SND   PATENT    YES    YES       16.24      TISDALE       PJV       463
P       P13108    1589     W+T   PATENT    NO     YES       16.19      TISDALE       PJV       463
P       P13420    1611     SND   PATENT    YES    YES       16.14      TISDALE       PJV       463
TEM     TEM299    1831     W+T   PATENT    YES    YES       48.56      TISDALE       PJV       463
P       P9362     1843     W+T   PATENT    YES    YES       16.34      TISDALE       PJV       463
P       P13581    1893     SND   PATENT    NO     YES       15.95      TISDALE       PJV       463
SWS     SWS1009   2766     SWS   PATENT    YES    YES       64.95      TISDALE       PJV       463
P       P14136    2894     W+T   PATENT    NO     YES       16.34      TISDALE       PJV       463
P       P12864A   3181     SWS   PATENT    YES    YES       15.94      TISDALE       PJV       463
P       P12866    3182     SWS   PATENT    YES    YES       15.94      TISDALE       PJV       463
P       P13190    3183     SWS   PATENT    YES    NO        15.95      TISDALE       PJV       463
TEM     TEM299    3217     W+T   PATENT    YES    NO                   TISDALE       PJV       463       Diepdaume-Sheridan Agree
P       P13423    3218     W+T   PATENT    YES    NO        16.19      TISDALE       PJV       463       Diepdaume-Sheridan Agree
P       P13188    3229     SWS   PATENT    YES    YES                  TISDALE       PJV       463
P       13188     3229     W+T   P         YES    YES       15.94      TISDALE       PJV       463
P       P12986    3230     SWS   PATENT    YES    YES       15.94      TISDALE       PJV       463
P       P12864    3231     SWS   PATENT    YES    YES       15.94      TISDALE       PJV       463
P       P13119    3290     SWS   PATENT    YES    YES       16.09      TISDALE       PJV       463
P       P13128    3327     SWS   PATENT    YES    YES       10.36      TISDALE       PJV       463
P       P13127    3328     SWS   PATENT    YES    YES       13.91      TISDALE       PJV       463
P       P13129    3329     SWS   PATENT    YES    YES       12.67      TISDALE       PJV       463
P       P13402    3362     SWS   PATENT    YES    YES       16.19      TISDALE       PJV       463
P       P13931    3364     SWS   PATENT    YES    YES       16.19      TISDALE       PJV       463
SWS     SWS671    3367     W+T   PATENT    NO     YES       63.99      TISDALE       PJV       463
P       P13403    3369     SWS   PATENT    YES    YES       16.19      TISDALE       PJV       463
P       P13126    3386     SWS   PATENT    YES    YES       16.09      TISDALE       PJV       463
P       P13125    3460     W+T   PATENT    YES    NO        16.04      TISDALE       PJV       463
P       P13125    3465     W+T   PATENT    NO     YES       16.04      TISDALE       PJV       463
P       P13150    3587     W+T   PATENT    YES    NO        15.99      TISDALE       PJV       463       Diepdaume-Sheridan Agree
P       P13118    3762     W+T   PATENT    YES    YES       16.14      TISDALE       PJV       463
P       P237      3763     W+T   PATENT    YES    YES       16.09      TISDALE       PJV       463
P       P13192    4137     SWS   PATENT    YES    YES       16.09      TISDALE       PJV       463
P       P12985    4138     SWS   PATENT    YES    YES       16.09      TISDALE       PJV       463
P       P13187    4139     SWS   PATENT    YES    YES       16.09      TISDALE       PJV       463
P       P13191    4140     SWS   PATENT    YES    YES       15.99      TISDALE       PJV       463
P       P12984    4141     SWS   PATENT    YES    YES       15.99      TISDALE       PJV       463
P       SWS13120  4202     SWS   PATENT    YES    YES       16.24      TISDALE       PJV       463
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                           Page A-15
------------------------------------------------------------------------------------------------------------------------------------

SWS     SWS1501    4310      SWS   PATENT   YES    NO     16.34      TISDALE       PJV       463
SWS     SWS1503    4311      SWS   PATENT   YES    NO     16.34      TISDALE       PJV       463
SWS     SWS1504    4312      SWS   PATENT   YES    NO     16.34      TISDALE       PJV       463
SWS     SWS1505    4313      SWS   PATENT   YES    NO     16.34      TISDALE       PJV       463
SWS     SWS1506    4314      SWS   PATENT   YES    NO     16.34      TISDALE       PJV       463
SWS     SWS1508    4315      SWS   PATENT   YES    NO     16.34      TISDALE       PJV       463
SWS     SWS671     4393      W+T   PATENT   YES    YES    63.99      TISDALE       PJV       463
P       P14115     4454      SWS   PATENT   YES    YES    16.39      TISDALE       PJV       463
P       P14114     4455      SWS   PATENT   YES    YES    16.39      TISDALE       PJV       463
P       P14086     4456      SWS   PATENT   YES    YES    16.39      TISDALE       PJV       463
COCH    COCH1788   4531      W+T   PATENT   YES    NO     7.87       TISDALE       PJV       463
ME      ME4        4532      W+T   PATENT   NO     YES               TISDALE       PJV       463
COCH    COCH1788   4622      W+T   PATENT   NO     YES    7.87       TISDALE       PJV       463
P       P13190     4675      W+T   PATENT   YES    YES    15.95      TISDALE       PJV       463
P       P12971     4765      W+T   PATENT   YES    NO     15.91      TISDALE       PJV       463       Diepdaume-Sheridan Agree
P       P13127     5130      W+T   PATENT   YES    YES    13.91      TISDALE       PJV       463
P       P13848     5145      W+T   PATENT   NO     YES    1.3        TISDALE       PJV       463
                   5253      W+T   PATENT                            TISDALE       PJV       463
ME      ME4        7416      W+T   PATENT   YES    NO     18.21      TISDALE       PJV       463       Diepdaume-Sheridan Agree
                   7913      W+T   PATENT   NO     YES    15.99      TISDALE       PJV       463       Diepdaume-Sheridan Agree
P       P6264      7914      W+T   PATENT   NO     YES    15.99      TISDALE       PJV       463
P       P13149     7915      W+T   PATENT   NO     YES    15.99      TISDALE       PJV       463
P       P13398     8005      W+T   PATENT   YES    YES    16.19      TISDALE       PJV       463
P       P13399     8005      W+T   PATENT   YES    YES    16.39      TISDALE       PJV       463
                                                                                                       Falconbridge - Temiskaming

P       P13198     8247      W+T   PATENT   YES    YES    16.04      TISDALE       PJV       463       Claims
                                                                                                       Falconbridge - Temiskaming

P       P13189     8248      W+T   PATENT   YES    YES    16.09      TISDALE       PJV       463       Claims
                                                                                                       Falconbridge - Temiskaming

P       P13197     8249      W+T   PATENT   YES    YES    16.09      TISDALE       PJV       463       Claims
SWS     SWS956     9201      W+T   PATENT   YES    NO     64.55      TISDALE       PJV       463
P       P13776     11380     W+T   PATENT   YES    NO     15.99      TISDALE       PJV       463       Diepdaume-Sheridan Agree
P       P13151     11381     W+T   PATENT   YES    NO     16.03      TISDALE       PJV       463       Diepdaume-Sheridan Agree
P       P13152     11382     W+T   PATENT   YES    NO     15.99      TISDALE       PJV       463       Diepdaume-Sheridan Agree
P       P13149     11383     W+T   PATENT   YES    NO     15.99      TISDALE       PJV       463       Diepdaume-Sheridan Agree
P       P13176     11621     W+T   PATENT   NO     YES    16.09      TISDALE       PJV       463
P       P13310     11622     W+T   PATENT   NO     YES    16.14      TISDALE       PJV       463
P       P13309     11623     W+T   PATENT   NO     YES    16.14      TISDALE       PJV       463
P       P13614     11624     W+T   PATENT   NO     YES    16.14      TISDALE       PJV       463
                   12347     W+T   PATENT                            TISDALE       PJV       463
TEM     TEM299     13429     W+T   PATENT                            TISDALE       PJV       463
P       P13423     13430     W+T   PATENT   YES    NO     16.19      TISDALE       PJV       463
COCH    COCH1788   13431     W+T   PATENT   YES    NO     7.87       TISDALE       PJV       463
ME      ME4        13432     W+T   PATENT   YES    NO                TISDALE       PJV       463
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
<S>                                                                           <C>

                                                                                                       Appendix 1 - Pamour Property,
                                                                                                                   Claim Information
                                                                                                                           Page A-16
------------------------------------------------------------------------------------------------------------------------------------

SWS    SWS250       14036      W+T     PATENT        NO    YES       64.75      TISDALE  PJV   463
P      P331         14036      W+T     PATENT        NO    YES       16.19      TISDALE  PJV   463
P      P6262        14036      W+T     PATENT        NO    YES       15.99      TISDALE  PJV   463
P      P8607        14036      W+T     PATENT        NO    YES       15.99      TISDALE  PJV   463
P      P13085       14036      W+T     PATENT        NO    YES       16.19      TISDALE  PJV   463
P      P13089       14036      W+T     PATENT        NO    YES       15.99      TISDALE  PJV   463
P      P13134       14036      W+T     PATENT        NO    YES       15.99      TISDALE  PJV   463
P      P13137       14036      W+T     PATENT        NO    YES       15.99      TISDALE  PJV   463
P      P13140       14036      W+T     PATENT        NO    YES       15.99      TISDALE  PJV   463
P      P13159       14036      W+T     PATENT        NO    YES       15.99      TISDALE  PJV   463
P      P13160       14036      W+T     PATENT        NO    YES       16.19      TISDALE  PJV   463
P      P13600       14036      W+T     PATENT        NO    YES       15.99      TISDALE  PJV   463
P      P13601       14036      W+T     PATENT        NO    YES       15.99      TISDALE  PJV   463
                    14178      W+T     PATENT        NO    YES                  TISDALE  PJV   463      Diepdaume-Sheridan Agree
                    14179      W+T     PATENT        NO    YES                  TISDALE  PJV   463      Diepdaume-Sheridan Agree
                    14180      W+T     PATENT        NO    YES                  TISDALE  PJV   463      Diepdaume-Sheridan Agree
                    14181      W+T     PATENT        NO    YES                  TISDALE  PJV   463      Diepdaume-Sheridan Agree
                    14182      W+T     PATENT        NO    YES                  TISDALE  PJV   463      Diepdaume-Sheridan Agree
                    14183      W+T     PATENT        NO    YES                  TISDALE  PJV   463      Diepdaume-Sheridan Agree
                    14184      W+T     PATENT        NO    YES                  TISDALE  PJV   463      Diepdaume-Sheridan Agree
                    14185      W+T     PATENT        NO    YES                  TISDALE  PJV   463      Diepdaume-Sheridan Agree
                    14186      W+T     PATENT        NO    YES                  TISDALE  PJV   463      Diepdaume-Sheridan Agree
                    1212646    P       UNPATENTED    YES   NO        16         TISDALE  PJV   463
TEM    TEM7194      2245       W+T     PATENT        YES   YES       230.47     WHITNEY  PJV   463
TEM    TEM7194      2245       W+T     PATENT        YES   YES                  WHITNEY  PJV   463
TEM    EM980        5445       W+T     PATENT        NO    YES       7.69       WHITNEY  PJV   463
TEM    TEM981       5445       W+T     PATENT        NO    YES       1.21       WHITNEY  PJV   463
SWS    SWS2053      5445       W+T     PATENT        NO    YES       7.53       WHITNEY  PJV   463
P      P6408        5445       W+T     PATENT        NO    YES       11.96      WHITNEY  PJV   463
SND    SND953       5945       W+T     PATENT        YES   NO        64.75      WHITNEY  PJV   463
P      P13138       13923      W+T     PATENT        NO    YES       8.9        WHITNEY  PJV   463
P      P13139       13923      W+T     PATENT        NO    YES       15.99      WHITNEY  PJV   463
                    1240737    P       UNPATENTED    YES   NO        16         WHITNEY  PJV   463
                    1240738    P       UNPATENTED    YES   NO        16         WHITNEY  PJV   463
</TABLE>

<PAGE>










                                   APPENDIX 2

                         CERTIFICATE & CONSENT LETTERS

<PAGE>

                                                                       Page A-18
--------------------------------------------------------------------------------

                             CERTIFICATE AND CONSENT

      TO ACCOMPANY THE INDEPENDENT TECHNICAL REPORT ON THE MINING ASSETS OF

                            PORCUPINE JOINT VENTURE


I, Jean-Francois Couture, residing at 59 Tiverton Avenue, Toronto, Ontario,
Canada do hereby certify that:

1.      I am a Principal Geologist with the firm of Steffen Robertson and
        Kirsten (Canada) Inc. (SRK) with an office at 357 Bay Street, Suite 602,
        Toronto Ontario M5H 2T7 CANADA.

2.      I am a graduate of the Universite Laval in Quebec City with a BSc. in
        Geology in 1982, an MSc.A. in Earth Sciences and a Ph.D. in Mineral
        Resources from Universite du Quebec a Chicoutimi in 1986 and 1994,
        respectively, and have practiced my profession continuously since 1982.

3.      I am a fellow with the Geological Association of Canada and a
        Professional Geoscientist registered with the Association of
        Professional Geoscientists of the province of Ontario (APGO#0197).

4.      I have not received, nor do I expect to receive, any interest, directly
        or indirectly, in the securities of Kinross Gold Corporation, or Placer
        Dome Inc.

5.      I am not aware of any material fact or material change with respect to
        the subject matter of the technical report, which is not reflected in
        the technical report, the omission to disclose which makes the technical
        report misleading.

6.      I, as the qualified person, am independent of the issuer as defined in
        Section 1.5 of National Instrument 43-101.

7.      I have not had any prior involvement with any property that is subject
        to the technical report.

8.      I have read National Instrument 43-101 and Form 43-101F1 and the
        technical report has been prepared in compliance with this Instrument
        and Form 43-101F1.

9.      Steffen Robertson and Kirsten (Canada) Inc. supported by Steffen
        Robertson and Kirsten (US) Inc. was retained by Kinross Gold Corporation
        to prepare an Independent Technical Report on the Porcupine Joint
        Venture in accordance with National Instrument 43-101. The following
        report is based on our review of project files, operations data,
        discussions with Kinross and Placer Dome personnel, and discussions with
        other SRK employees who visited the mine sites in 2001.

10.     I have visited the Dome and Hoyle Pond Mines between February 24 and 28,
        2003.

11.     I was a co-author of the report.

12.     I hereby consent to use of this report and our name in the preparation
        of a prospectus for submission to any Provincial regulatory authority.

                                                "SEAL"

                                                "Jean-Francois Couture"

         Toronto, Ontario CANADA                Jean-Francois Couture, Ph.D.,
         Principal Geologist                    P.Geo March 28, 2002

<PAGE>

                                                                       Page A-19
--------------------------------------------------------------------------------

                             CERTIFICATE AND CONSENT

      TO ACCOMPANY THE INDEPENDENT TECHNICAL REPORT ON THE MINING ASSETS OF

                            PORCUPINE JOINT VENTURE

I, William F. Tanaka, residing at 318 Wright Street, Lakewood, Colorado 80228
USA do hereby certify that:

1.      I am a Principal Geological Engineer with the firm of Steffen Robertson
        and Kirsten (US) Inc. (SRK) with an office at 7175 West Jefferson
        Avenue, Suite 3000, Lakewood, Colorado 80235 USA.

2.      I am a graduate of the Colorado School of Mines with a BSc. in
        Geological Engineering,, and have practiced my profession continuously
        since 1984;

3.      I am a member of the Australasian Institute of Mining and Metallurgy
        (AUSIMM) and of the Society of Mining Engineers (SME);

4.      I have not received, nor do I expect to receive, any interest, directly
        or indirectly, in the securities of Kinross Gold Corporation, or Placer
        Dome, Inc

5.      I am not aware of any material fact or material change with respect to
        the subject matter of the technical report, which is not reflected in
        the technical report, the omission to disclose which makes the technical
        report misleading.

6.      I, as the qualified person, am independent of the issuer as defined in
        Section 1.5 of National Instrument 43-101.

7.      I have not had any prior involvement with any property that is subject
        to the technical report.

8.      I have read National Instrument 43-101 and Form 43-101F1 and the
        technical report has been prepared in compliance with this Instrument
        and Form 43-101F1.

9.      Steffen Robertson and Kirsten (Canada) Inc. supported by Steffen
        Robertson and Kirsten (US) Inc. was retained by Kinross Gold Corporation
        to prepare an Independent Technical Report on the Porcupine Joint
        Venture in accordance with National Instrument 43-101. The following
        report is based on our review of project files, operations data,
        discussions with Kinross and Placer Dome personnel, and discussions with
        other SRK employees who visited the mine sites in 2001.

10.     I was a co-author of the report.

11.     I hereby consent to use of this report and our name in the preparation
        of a prospectus for submission to any Provincial regulatory authority.

                                                "SEAL"

                                                "William F. Tanaka"

         Denver, Colorado, USA                  William F. Tanaka
         March 28, 2002                         Principal Geologic Engineer

<PAGE>

                                                                       Page A-20
--------------------------------------------------------------------------------

                             CERTIFICATE AND CONSENT

      TO ACCOMPANY THE INDEPENDENT TECHNICAL REPORT ON THE MINING ASSETS OF

                            PORCUPINE JOINT VENTURE

I, Robert Crepeau, residing at 68 Pierret Street, Val D'Or, Qc, Canada do hereby
certify that:

1.      I am an Associate Geological Engineer with the firm of Steffen Robertson
        and Kirsten (Canada) Inc. (SRK) with an office at 357 Bay Street, Suite
        602, Toronto Ontario M5H 2T7 CANADA.

2.      I am a graduate of Ecole Polytechnique de Montreal with a BSca. in
        Geological Engineering, and have practiced my profession continuously
        since 1978;

3.      I am a member of Ordre des Ingenieur du Quebec;

4.      I have not received, nor do I expect to receive, any interest, directly
        or indirectly, in the securities of Kinross Gold Corporation, or Placer
        Dome Inc.

5.      I am not aware of any material fact or material change with respect to
        the subject matter of the technical report, which is not reflected in
        the technical report, the omission to disclose which makes the technical
        report misleading.

6.      I, as the qualified person, am independent of the issuer as defined in
        Section 1.5 of National Instrument 43-101.

7.      I have not had any prior involvement with any property that is subject
        to the technical report.

8.      I have read National Instrument 43-101 and Form 43-101F1 and the
        technical report has been prepared in compliance with this Instrument
        and Form 43-101F1.

9.      Steffen Robertson and Kirsten (Canada) Inc. supported by Steffen
        Robertson and Kirsten (US) Inc. was retained by Kinross Gold Corporation
        to prepare an Independent Technical Report on the Porcupine Joint
        Venture in accordance with National Instrument 43-101. The following
        report is based on our review of project files, operations data,
        discussions with Kinross and Placer Dome personnel, and discussions with
        other SRK employees who visited the mine sites in 2001.

10.     I was a co-author of the report.

11.     I hereby consent to use of this report and our name in the preparation
        of a prospectus for submission to any Provincial regulatory authority.

                                            "SEAL"

                                            "Robert Crepeau"

         Toronto, Ontario CANADA            Robert Crepeau , P. Eng
         March 28, 2002

<PAGE>

                                                                       Page A-21
--------------------------------------------------------------------------------

                             CERTIFICATE AND CONSENT

      TO ACCOMPANY THE INDEPENDENT TECHNICAL REPORT ON THE MINING ASSETS OF

                            PORCUPINE JOINT VENTURE

I, Nicholas Michael, residing at 6200 South Vivian St., Littleton Colorado 80127
USA do hereby certify that:

1.      I am a Senior Mineral Economist with the firm of Steffen Robertson and
        Kirsten (US) Inc. (SRK) with an office at 7175 West Jefferson Avenue,
        Suite 3000, Lakewood, Colorado 80235 USA.

2.      I am a graduate of the Colorado School of Mines with a BSc. in Mining
        Engineering, MBA. from Willamette University, Geo. H Atkinson Graduate
        School of Management in 1986, and have practiced my profession
        continuously since 1987;

3.      I am a member of the Society of Mining Engineers (SME);

4.      I have not received, nor do I expect to receive, any interest, directly
        or indirectly, in the securities of Kinross Gold Corporation, or Placer
        Dome, Inc

5.      I am not aware of any material fact or material change with respect to
        the subject matter of the technical report, which is not reflected in
        the technical report, the omission to disclose which makes the technical
        report misleading.

6.      I, as the qualified person, am independent of the issuer as defined in
        Section 1.5 of National Instrument 43-101.

7.      I have not had any prior involvement with any property that is subject
        to the technical report.

8.      I have read National Instrument 43-101 and Form 43-101F1 and the
        technical report has been prepared in compliance with this Instrument
        and Form 43-101F1.

9.      Steffen Robertson and Kirsten (Canada) Inc. supported by Steffen
        Robertson and Kirsten (US) Inc. was retained by Kinross Gold Corporation
        to prepare an Independent Technical Report on the Porcupine Joint
        Venture in accordance with National Instrument 43-101. The following
        report is based on our review of project files, operations data,
        discussions with Kinross and Placer Dome personnel, and discussions with
        other SRK employees who visited the mine sites in 2001.

10.     I was a co-author of the report.

11.     I hereby consent to use of this report and our name in the preparation
        of a prospectus for submission to any Provincial regulatory authority.

                                                    "SEAL"

                                                    "Nicholas Michael"



         Denver, Colorado, USA                      Nicholas Michael, MBA
         March 28, 2002                             Senior Mining Engineer

<PAGE>

                                                                       Page A-22
--------------------------------------------------------------------------------

                             CERTIFICATE AND CONSENT

      TO ACCOMPANY THE INDEPENDENT TECHNICAL REPORT ON THE MINING ASSETS OF

                            PORCUPINE JOINT VENTURE

I, Tim Mosey, residing at 7162 South Silverhorn Drive, Evergreen, Colorado
80439, USA do hereby certify that:

1.      I am a Senior Mining/Geological Engineer with the firm of Steffen
        Robertson and Kirsten (US) Inc. (SRK) with an office at 7175 West
        Jefferson Avenue, Suite 3000, Lakewood, Colorado 80235 USA.

2.      I am a graduate of the South Dakota School of Mines with a BSc. in
        Geological Engineering and the Colorado School of Mines with a MSc. in
        Mining Engineering, and have practiced my profession continuously since
        1988;

3.      I am a member of the Society of Mining Engineers (SME);

4.      I have not received, nor do I expect to receive, any interest, directly
        or indirectly, in the securities of Kinross Gold Corporation, or Placer
        Dome, Inc

5.      I am not aware of any material fact or material change with respect to
        the subject matter of the technical report, which is not reflected in
        the technical report, the omission to disclose which makes the technical
        report misleading.

6.      I, as the qualified person, am independent of the issuer as defined in
        Section 1.5 of National Instrument 43-101.

7.      I have not had any prior involvement with any property that is subject
        to the technical report.

8.      I have read National Instrument 43-101 and Form 43-101F1 and the
        technical report has been prepared in compliance with this Instrument
        and Form 43-101F1.

9.      Steffen Robertson and Kirsten (Canada) Inc. supported by Steffen
        Robertson and Kirsten (US) Inc. was retained by Kinross Gold Corporation
        to prepare an Independent Technical Report on the Porcupine Joint
        Venture in accordance with National Instrument 43-101. The following
        report is based on our review of project files, operations data,
        discussions with Kinross and Placer Dome personnel, and discussions with
        other SRK employees who visited the mine sites in 2001.

10.     I was a co-author of the report.

11.     I hereby consent to use of this report and our name in the preparation
        of a prospectus for submission to any Provincial regulatory authority.

                                                "SEAL"

                                                "Tim Mosey"

         Denver, Colorado, USA                  Tim Mosey
         March 28, 2002                         Sr. Geological/Mining Engineer



</TEXT>
</DOCUMENT>
