-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 SHYjYvI1M8IVs7+7tKnFncaYh8pCXoSksHnUdnG44/LGMX9DUU7jbgnqxEBvoOSF
 YWd8mZEKleBfY0f7/KEKJQ==

<SEC-DOCUMENT>0001188112-04-001064.txt : 20040713
<SEC-HEADER>0001188112-04-001064.hdr.sgml : 20040713
<ACCEPTANCE-DATETIME>20040713170056
ACCESSION NUMBER:		0001188112-04-001064
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20040731
FILED AS OF DATE:		20040713

FILER:

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

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13382
		FILM NUMBER:		04912459

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PLEXUS RESOURCES CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>t6k-2983b.txt
<DESCRIPTION>6-K
<TEXT>
<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 6-K

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

                           For the month of July, 2004
                        Commission File Number: 001-13382
                            KINROSS GOLD CORPORATION
                 (Translation of registrant's name into English)

                  52nd Floor, Scotia Plaza, 40 King Street West
                            Toronto, Ontario M5H 3Y2
                    (Address of principal executive offices)

        Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40F:

                     Form 20-F                  Form 40-F  X
                              -----                      -----

        Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1):_____

        Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper
of a Form 6-K if submitted solely to provide an attached annual report to
security holders.

        Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7):_____

        Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper
of a Form 6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the laws of
the jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant's "home country"), or under the rules of the home
country exchange on which the registrant's securities are traded, as long as the
report or other document is not a press release, is not required to be and has
not been distributed to the registrant's security holders, and, if discussing a
material event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.

        Indicate by check mark whether by furnishing the information contained
in this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                           Yes                         No  X
                              -----                      -----

        If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2b:

<PAGE>

                                                                          Page 2


This report on Form 6-K is being filed for the sole purpose of providing the
technical report dated April 4, 2003 with respect to the Buckhorn Mountain
Project as of December, 2002.



                                  EXHIBIT INDEX

99.1     Musselwhite Technical Report dated April 4, 2003.
99.2     Consent of Expert - John Kiernan dated June 30, 2004


<PAGE>

                                                                          Page 3
                                   SIGNATURES


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

                                             KINROSS GOLD CORPORATION



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


July  12, 2004

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


                                IMPORTANT NOTICE


This report was prepared exclusively for Kinross Gold Corporation (Kinross) by
AMEC E&C Services Limited (AMEC). The quallity of information, conclusions and
estimates contained herein is consistent with the level of effort involved in
AMEC's services and based on: i) information available at the time of
preparation, ii) data supplied by outside sources and iii) the assumptions,
conditions and qualifications set forth in this report. This report is intended
to be used by Kinross only, subject to the terms and conditions of its contract
with AMEC. Any other use of, or reliance on, this report by any third party is
at that party's sole risk.


<PAGE>
<TABLE>
<CAPTION>
<S>                                                                             <C>
KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




CONTENTS
- ---------------------------------------------------------------------------------------------------------------

1.0          SUMMARY .......................................................................................1-1
2.0          INTRODUCTION & TERMS OF REFERENCE .............................................................2-1
             2.1     Terms of Reference ....................................................................2-1
3.0          DISCLAIMER ....................................................................................3-1
4.0          PROPERTY DESCRIPTION AND LOCATION .............................................................4-1
5.0          ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, AND
             PHYSIOGRAPHY ..................................................................................5-1
             5.1     Physiography ..........................................................................5-1
             5.2     Climate ...............................................................................5-1
             5.3     Local Resources .......................................................................5-1
             5.4     Access ................................................................................5-2
             5.5     Project Infrastructure ................................................................5-2
6.0          HISTORY .......................................................................................6-1
7.0          GEOLOGICAL SETTING ............................................................................7-1
             7.1     Regional Geology ......................................................................7-1
             7.2     Property-Scale Lithology and Stratigraphy .............................................7-5
             7.3     Mine Scale Lithological and Stratigraphic Relations ...................................7-7
8.0          DEPOSIT TYPES .................................................................................8-1
9.0          MINERALIZATION ................................................................................9-1
             9.1     Styles of Gold Mineralization .........................................................9-1
             9.2     Geological Controls on Gold Mineralization ............................................9-2
             9.3     Detailed Mineralized Zone Descriptions ................................................9-4
10.0         EXPLORATION ..................................................................................10-1
             10.1    Recent Exploration ...................................................................10-1
             10.2    Future Exploration ...................................................................10-1
11.0         DRILLING .....................................................................................11-1
12.0         SAMPLING METHOD AND APPROACH .................................................................12-1
13.0         SAMPLING PREPARATION, ANALYSIS, AND SECURITY .................................................13-1
14.0         DATA VERIFICATION ............................................................................14-1
15.0         ADJACENT PROPERTIES ..........................................................................15-1
16.0         MINERAL PROCESSING AND METALLURGICAL TESTING .................................................16-1
             16.1    Mill Flowsheet .......................................................................16-1
             16.2    Planned Flowsheet Developments .......................................................16-1
             16.3    Planned Throughput Increase ..........................................................16-2
             16.4    Water Treatment ......................................................................16-3
             16.5    Tailings Disposal ....................................................................16-3
             16.6    Gold Recovery ........................................................................16-4
             16.7    Ore Processing Capital and Operating Cost Estimates ..................................16-5


- ---------------------------------------------------------------------------------------------------------------

March 2003                                            TOC i                                         [LOGO] amec

</TABLE>

<PAGE>
<TABLE>
<CAPTION>
<S>                                                                             <C>
KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




17.0         MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES                                                17-1
             17.1 Mineral Resource and Reserve Statement                                                   17-1
             17.2 Mineral Resource Estimation Methods                                                      17-2
             17.3 Mineral Resource and Reserve Validation                                                  17-6
             17.4 Classification                                                                           17-10
             17.5 Reserve Methodology                                                                      17-11
18.0         OTHER DATA AND INFORMATION                                                                    18-1
19.0         REQUIREMENTS FOR TECHNICAL REPORTS ON PRODUCTION PROPERTIES                                   19-1
             19.1 Mine Infrastructure                                                                      19-1
             19.2 Mining Methods                                                                           19-2
             19.3 Mobile Equipment                                                                         19-3
             19.4 Mine Production                                                                          19-4
             19.5 Processing and Recoverability                                                            19-6
             19.6 Markets and Contracts                                                                    19-6
             19.7 Environmental Considerations                                                             19-6
             19.8 Taxes 19-7
             19.9 Capital and Operating Costs                                                              19-8
             19.10 Economic Analysis                                                                       19-9
             19.11 Mine Life                                                                               19-9
20.0         INTERPRETATIONS AND CONCLUSIONS                                                               20-1
21.0         REFERENCES                                                                                    21-1


FIGURES
- ---------------------------------------------------------------------------------------------------------------

4-1           Musselwhite Mine Location                                                                     4-1
5-1           Mine Infrastructure on Satellite Image                                                        5-3
7-1           North Caribou Greenstone Belt Assemblages                                                     7-2
7-2           OGS Regional Mapping                                                                          7-3
7-3           Aeromagnetic Litho-Structural Interpretation                                                  7-4
7-4           Regional Stratigraphic Column                                                                 7-5
7-5           Schematic Section to Illustrate the Stratigraphic Relationship of the Felsic Volcanics        7-6
7-6           Schematic Mine Scale Stratigraphic Column                                                     7-8
9-1           Zones of Economic Mineralization                                                              9-1
9-2           Typical Orientation of a Longitudinal Fault                                                   9-3
9-3           Schematic Section Showing Relative Positions of S, C, T & WA Zones                            9-5
11-1          Distribution of all Drillhole Collars at Musselwhite                                          11-1
11-2          Surface Drillhole Collar Locations at Musselwhite                                             11-2
11-3          Underground Drillhole Collar Locations at Musselwhite                                         11-3
13-1          2002 Analytical Results for Standard 900                                                      13-2
13-2          2002 Analytical Results for Standard 999                                                      13-2
13-3          2002 Blank Sample Analyses                                                                    13-4
13-4          2002 Reject Duplicate Analyses                                                                13-4
13-5          2002 Pulp Duplicate Analyses                                                                  13-5
17-1          Grade by Easting Validation Plot                                                              17-7


- ---------------------------------------------------------------------------------------------------------------

March 2003                                           TOC ii                                         [LOGO] amec

</TABLE>

<PAGE>
<TABLE>
<CAPTION>
<S>                                                                             <C>
KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




17-2          Grade by Northing Validation Plot                                                     17-8
17-3          Grade by Level Validation Plot                                                        17-9


TABLES
- ---------------------------------------------------------------------------------------------------------------
4-1           List of Mineral Leases and Claims Checked by AMEC                                     4-2
11-1          Drilling Summary by Year                                                              11-1
16-1          Comparison of Yearly Processing Operating Costs ($/t)                                 16-5
16-2          Projected Capital Expenditures for Processing ($000)                                  16-6
17-1          Summary of Mineral Resource* by Classification Category                               17-1
17-2          Summary of Mineral Reserve by Classification Category (US$300/oz)                     17-2
17-3          2002 Capping Levels                                                                   17-4
17-4          Summary of Statistical Properties of Assay Composites                                 17-4
17-5          2002 S Zone Variogram Model Parameters                                                17-5
17-6          Global Mean Grade Comparison                                                          17-10
17-7          Cutoff Grades and Mining Parameters by Zone                                           17-12
17-8          Cutoff Grade Parameters                                                               17-12
18-1          Annual Reconciliation Data for 2001 and 2002                                          18-1
19-1          Mobile Equipment List                                                                 19-4
19-2          LOM Production Plan                                                                   19-5
19-3          Distribution of Gold Production                                                       19-6
19-4          Average Unit Operating Costs - 1998 to 2003 ($/t)                                     19-8


APPENDICES
- ---------------------------------------------------------------------------------------------------------------
A             Claims List and Claims Map
B             Diamond Drill hole Location Plan
C             Process Plant Flowsheet
D             Resource and Reserve Tables
E             Histograms Cumulative Distribution Plots
F             Variogram Model
G             Block Model Cross-Sections
H             Longitudinal Reserve Sections
I             Reconciliation Results


- ---------------------------------------------------------------------------------------------------------------

March 2003                                          TOC iii                                         [LOGO] amec

</TABLE>

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




1.0     SUMMARY

        Kinross Gold Corporation (Kinross) has asked AMEC Mining and Metals
        (AMEC) to provide an independent Qualified Person's review and technical
        report of the Musselwhite Mine operation in Ontario, Canada. John
        Kiernan, P.Eng., an employee of AMEC, served as the Qualified Person
        responsible for preparing the technical report as defined in National
        Instrument 43-101, Standards of Disclosure for Mineral Properties, and
        in compliance with Form 43-101F1 (the "Technical Reports"). John
        Kiernan, in addition to supervising the preparation of this report,
        conducted a review of issues related to mining. Steve Blower, P.Geo.,
        and Pierre Lacombe, P.Eng., both employees of AMEC and Qualified
        Persons, conducted the geological and metallurgical reviews,
        respectively. John Kiernan and Steve Blower visited the Musselwhite Mine
        on 18 to 23 March 2003.

        The Musselwhite property is located in the Patricia Mining District in
        Northwestern Ontario, approximately 430 km northwest of Thunder Bay. The
        mine is predominantly an underground operation adjacent to, and beneath,
        Opapimiskan Lake. Musselwhite is operated as an unincorporated joint
        venture between Placer Dome Canada Limited (68.07%) and the newly formed
        Kinross Gold Corporation (31.93%).

        The mine has an operating agreement with local First Nations groups. The
        agreement was recently renewed removing previous restrictions on daily
        mill throughput, and including revenue-sharing provisions to help direct
        some of the mine's economic benefits directly into local communities.
        The mine operator, Placer Dome, has a sustainability policy that commits
        the Musselwhite Mine to a high standard of environmental stewardship.
        This involves protecting human health, reducing the impact of mining on
        the ecosystem, and returning the site to a state compatible with a
        healthy environment.

        Musselwhite is an Archean-aged Iron Formation hosted gold deposit
        located near the northeast margin of the North Caribou Greenstone Belt.
        Most of the mineralization is hosted by a highly tectonized iron
        formation unit known as 4ea that is continuous across most of the
        property but is only well mineralized where the permeability of the unit
        has been increased by structural complications such as fault
        intersections or fold hinge zones. Consequently mineralization within
        the 4ea unit is believed to be epigenetic and is associated with intense
        quartz flooding and the presence of pyrrhotite.

        A total of 3,261 diamond drill holes have been drilled from both surface
        and underground at Musselwhite. To verify the accuracy of the database,
        AMEC compared the assay and survey data from seventeen drill holes to
        source data records. No errors were found.


- --------------------------------------------------------------------------------

March 2003                          Page 1-1                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        Gold assays have been completed with industry standard fire assay
        techniques supported by Musselwhite's QA/QC program. The program
        consists of the regular insertion of standard reference materials,
        blanks, and both pulp and reject duplicate samples into the core sample
        stream.

        A large number of specific gravity determinations have been completed on
        diamond drill core samples with a weight-in-air/weight-in-water
        technique. The average, 3.29, has been used in Mineral Resource and
        Reserve estimates.

        On 31 December 2002, the total Measured and Indicated Resource
        (including Mineral Reserves) was estimated to be 16.971 M tonnes with a
        grade of 5.91 g/t Au. This Resource is reported above a cutoff grade of
        3.00 g/t Au, reflecting a gold price of US$325/oz. An additional
        Resource of 3.517 M tonnes with a grade of 7.35 g/t Au (also reported at
        a cutoff grade of 3.00 g/t Au) has been classified as Inferred.
        Approximately 68% of the total Measured and Indicated Resource is within
        the T-Antiform zone. The remaining 32% is divided among nine other zones
        on the property.

        A portion of the Measured and Indicated Resource has been converted to a
        Proven and Probable Mineral Reserve. As of 31 December 2002, the Proven
        and Probable Mineral Reserve was estimated to be 11.914 Mt with a grade
        of 5.44 g/t Au. This Reserve is reported above a cutoff grade of 3.25
        g/t Au, reflecting a gold price of US$300/oz.

        Mineral Resources and Reserves at Musselwhite are based on geologically
        constrained grade block models that are constructed by interpolating
        composited assay values with ordinary kriging or inverse distance
        techniques. AMEC has checked the validity of the T-Antiform portion of
        the models with a number of methods, including a review of
        reconciliation data, and is satisfied that the Reserve model provides an
        acceptable estimate of tonnage and grade for mine production forecasts.

        Gold milling in the treatment plant includes a conventional crushing/rod
        milling/ball milling circuit for size reduction, with a gravity recovery
        step included in the ball mill circuit. The grinding slurry is thickened
        before entering a cyanidation circuit, followed by a dissolved gold
        recovery circuit with carbon-in-pulp (CIP). The carbon handling circuit
        is conventional, using the heated and pressurized strip method before
        sludging the gold in four electrowinning cells. Dore bars are poured
        from both the electrowinning sludge and from gold recovered by gravity.
        Recovery in the mill averages 95% or slightly higher; ongoing
        improvements are being implemented to raise this figure.

        The majority of ore production is from underground sources, with open
        pits providing some feed at the beginning and end of mine life. The mine
        currently plans to produce approximately 232,000 ounces of gold per
        year.


- --------------------------------------------------------------------------------

March 2003                          Page 1-2                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE


        The 2003 Musselwhite Mine budget and the 2003 Strategic Business Plan
        call for a sustained production rate of 4,000 tpd for the mine life. The
        entire operation is currently being modified to optimize throughput
        capacity.

        The mine operating and capital cost budgets and the business plan
        financial analysis have been reviewed and are consistent with industry
        standard operating practices. These documents are not publicly available
        and have therefore not been included with this report. Should there be a
        requirement to review these documents, access can be granted by
        requesting and signing a confidentiality agreement approved by both
        joint-venture partners at the mine.

        The 31 December 2002 Musselwhite Mine Mineral Resource and Mineral
        Reserve statement is supported by this independent review.


- --------------------------------------------------------------------------------

March 2003                          Page 1-3                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




2.0     INTRODUCTION & TERMS OF REFERENCE

        Kinross Gold Corporation (Kinross) has asked AMEC Mining and Metals
        (AMEC) to provide an independent Qualified Person's review and technical
        report of the Musselwhite Mine operation in Ontario, Canada. John
        Kiernan, P.Eng., an employee of AMEC, served as the Qualified Person
        responsible for preparing the technical report as defined in National
        Instrument 43-101, Standards of Disclosure for Mineral Properties, and
        in compliance with Form 43-101F1 (the "Technical Reports").

        The mine is operated as an unincorporated joint venture between Placer
        Dome Canada Ltd (68.07%) and Kinross (31.93%). Information and data for
        the report were obtained from a site visit by AMEC on 18 to 23 March
        2003, as well as from issuers' reports on SEDAR and directly from Placer
        and Kinross. The pertinent geological, mining, and metallurgical
        information was reviewed in sufficient detail to prepare this report.
        John Kiernan, in addition to supervising the preparation of this report,
        conducted a review of issues related to mining. Steve Blower, P.Geo.,
        and Pierre Lacombe, P.Eng., both employees of AMEC and Qualified
        Persons, conducted the geological and metallurgical reviews,
        respectively.

2.1     TERMS OF REFERENCE

        Unless otherwise specified, all units of measurement in this report are
        metric and all costs are expressed in Canadian dollars. The payable
        metals, gold and silver, are priced in United States dollars (US$) per
        ounce.

        The statement of Reserves and Resources as of 31 December 2002 is based
        on input from Placer's Corporate office in Vancouver, utilizing a base
        gold price of US$300/oz and a conversion rate of 1.0 to 1.5 (CDN$ to
        US$). As discussed in Section 17, there are two small deposits to be
        mined at the end of the mine life, the Reserves for which are estimated
        based on information contained in feasibility studies completed in 1997
        and 1998.


- --------------------------------------------------------------------------------

March 2003                          Page 2-1                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




3.0     DISCLAIMER

        AMEC's review of the Musselwhite Mine operation was completed based on
        information provided by the mine staff. In particular, Resource
        information was based on work carried out by Qualified Person Andrew
        Cheatle, Chief Geologist, and Reserve information was based on the work
        of Qualified Person Rob Usher, Mining Manager.


- --------------------------------------------------------------------------------

March 2003                          Page 3-1                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




4.0     PROPERTY DESCRIPTION AND LOCATION

        The Musselwhite property is located in the Patricia Mining District in
        Northwestern Ontario; NTS 53 B/9, latitude 52(degree)36'50" N and
        longitude 90(degree)21'43" W. The mine lies in the Opapimiskan Lake
        area, approximately 76 km southeast of the First Nations community of
        Round Lake (Weagamow), 130 km north of the town of Pickle Lake, and 430
        km northwest of Thunder Bay (Figure 4-1)

        FIGURE 4-1:  MUSSELWHITE MINE LOCATION









                                    [PICTURE]












        The majority of mining to date has been performed underground on the
        T-Antiform deposit. Mining will continue on this deposit, supplemented
        by ore from six additional underground deposits and one open pit deposit
        near the end of the current mine plan.


- --------------------------------------------------------------------------------

March 2003                          Page 4-1                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        The property consists of a total of 617 claims. There is a core holding
        of 338 leased mining claims; except for 96 claims, for which only mining
        rights are held, mining and surface rights are held for all of these.
        Surrounding this core holding are 279 contiguous unpatented mining
        claims. The core holding and unpatented claims together span
        approximately 5,444 and 12,104 hectares, respectively, for a total of
        17,548 hectares.

        The claims have expiration dates ranging from 12 April 2003 to 12 June
        2012. AMEC did not complete a detailed title search on the mineral and
        property holdings at Musselwhite; however, in a random check, ten mining
        leases and ten unpatented claims were confirmed by the Ontario
        Provincial Recording office to be in good standing (see Table 4-1 for a
        list of leases and claims that were checked). A complete list of claims
        and a claim map are included in Appendix A.

        TABLE 4-1:  LIST OF MINERAL LEASES AND CLAIMS CHECKED BY AMEC
        ------------------------------------------------------------------------
        MINERAL LEASES                       UNPATENTED MINERAL CLAIMS
        ========================================================================
        PA 529495                            PA 529410
        PA 529496                            PA 529429
        PA 529497                            PA 529470
        PA 529487                            PA 529518
        PA 529826                            PA 529548
        PA 529827                            PA 529566
        PA 529828                            PA 529640
        PA 529829                            PA 529807
        PA 508457                            PA 851196
        PA 508458                            PA 1173215
        ------------------------------------------------------------------------

        The mine has recently renewed an operating agreement with local First
        Nations groups. In the new agreement, restrictions on daily mill
        throughput have been removed, and revenue-sharing provisions have been
        incorporated to help direct some of the mine's economic benefits
        directly into local communities. The following is an outline of the
        agreement:

        THE MUSSELWHITE AGREEMENT

        "WITH THE ORIGINAL MUSSELWHITE AGREEMENT HAVING EXPIRED IN FEBRUARY
        2001, A NEW AGREEMENT WAS NEGOTIATED BETWEEN THE JOINT VENTURE PARTIES,
        PLACER DOME AND TVX/NORMANDY AMERICAS INC., CAT LAKE FIRST NATION, NORTH
        CARIBOU LAKE FIRST NATION, KINGFISHER LAKE FIRST NATION, WUNNUMIN LAKE
        FIRST NATION, SHIBOGAMA FIRST NATIONS COUNCIL, WINDIGO FIRST NATIONS
        COUNCIL. IN ADDITION, THE JOINT VENTURE PARTIES HAVE MAINTAINED THE
        GENERAL COMPENSATION AGREEMENT WITH THE ABOVE FIRST NATIONS AND A
        SPECIFIC NORTH CARIBOU LAKE FIRST NATIONS TRAPPERS COMPENSATION
        AGREEMENT.


- --------------------------------------------------------------------------------

March 2003                          Page 4-2                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        IN ADDITION TO THE OPTING OUT OF THE FEDERAL AND PROVINCIAL GOVERNMENTS,
        THE NEW MUSSELWHITE AGREEMENT DIFFERS IN STRUCTURE WHILE MAINTAINING THE
        MUTUAL BENEFITS OF THE OLD AGREEMENT. SALIENT POINTS ARE A "LIFE OF
        MINE" AGREEMENT PROVIDING FOR AN UNFETTERED BUSINESS WITH NO TONNAGE CAP
        ON THE MILL OR MILL EXPANSION. THERE WILL BE AN INCREASED EMPLOYMENT
        TARGET OF 30% FOR SIGNATORY AND AFFILIATE FIRST NATIONS EMPLOYEES.
        MOREOVER, THE SIGNATORY FIRST NATIONS HAVE AGREED TO A REVENUE SHARING
        AGREEMENT WHEREBY MONIES WILL FLOW DIRECTLY TO THE COMMUNITIES BASED ON
        THE MONTHLY OUNCE PRODUCTION OF THE MINE. THE REVENUE IS BROKEN DOWN TO
        THREE MAIN CATEGORIES: REVENUE SHARING, IMPLEMENTATION AND ENVIRONMENTAL
        DOLLARS. THE BREAKDOWN WAS DERIVED BY A FORMULA AGREED TO BY FIRST
        NATIONS ELDERS THAT MET TO DISCUSS THE MATTER.

        OUR GOALS FOR 2002 AND BEYOND INCLUDE BUILDING ON THE RELATIONSHIPS
        ALREADY DEVELOPED WITH THE SIGNATORY FIRST NATIONS, AND EXPANDING OUR
        RELATIONSHIPS IN THE NORTH WITH THE AFFILIATED FIRST NATIONS
        COMMUNITIES. WE WILL CONTINUE TO MONITOR THE PROGRESS OF THE NEW
        MUSSELWHITE AGREEMENT THROUGH THE WORKING OF THE MUSSELWHITE WORKING
        COMMITTEE, THE ENVIRONMENTAL WORKING COMMITTEE AND THE IMPLEMENTATION
        REVIEW COMMITTEE. MUSSELWHITE MINE WILL CONTINUE TO USE GOODS AND
        SERVICES FROM THE FIRST NATIONS AS WELL AS LOOKING FOR OTHER BUSINESS
        OPPORTUNITIES FROM THE FIRST NATIONS THAT CAN BE OFFERED TO THE MINE."


- --------------------------------------------------------------------------------

March 2003                          Page 4-3                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




5.0     ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, AND
        PHYSIOGRAPHY

5.1     PHYSIOGRAPHY

        The topography of the project area is relatively flat, with granite
        intrusions associated with regional highlands. Local relief, which
        ranges from 5 m to a maximum of 45 m, can be attributed to glacial
        deposits in the form of moraines, eskers, and drumlins. Extensive,
        low-lying swampy areas surround streams, ponds, and lakes on the
        property. The elevation of Opapimiskan Lake is reported to be 300.5 m
        and 296.0 m by the East Bay Mine grid and the Surveying and Mapping
        Branch of the Department of Energy, Mines and Resources, respectively.
        Regional drainage trends northeast towards Hudson Bay, with an average
        gradient of 3 m/km.

        The Opapimiskan Lake area lies within the northern coniferous section of
        the boreal forest. Predominant species include black spruce, tamarack,
        and cedar, with local stands of white birch, jackpine, and poplar on
        better-drained areas such as eskers and moraines. A forest fire
        destroyed most of the area south of Opapimiskan Lake in 1979. Vegetation
        is slowly returning but currently has no economic value.

5.2     CLIMATE

        The nearest permanent weather monitoring station is located in Pickle
        Lake. Weather statistics for the period 1951-1980 indicate a mean daily
        temperature of -0.9(degree)C. Temperatures range between 40(degree)C and
        a minimum of -51(degree)C. The mean annual rainfall is recorded at 509
        mm and the mean annual snowfall is 266 cm. On average, precipitation is
        recorded on 168 days during the course of a year. The average wind speed
        is 16.4 km/h, originating from the northwest 23% of the time. Winds from
        the west, southwest, south, and north are roughly equally divided in
        frequency.

5.3     LOCAL RESOURCES

        Opapimiskan Lake, once commercially fished, now receives limited fly-in
        fishing from a tourist resort operator. Fish species include pickerel,
        pike, perch, and whitefish. Animal species occupying the regenerating
        forest include moose, black bear, wolves, beaver, fox, and rabbit.
        Portions of two registered traplines cross the property, and seven
        others cross the winter access road.

        Five First Nations and two non-First Nations communities--a total of
        approximately 3,000 inhabitants--live within the vicinity of the
        Musselwhite project:


- --------------------------------------------------------------------------------

March 2003                          Page 5-1                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        o       Kingfisher Lake lies 58 km to the northeast.

        o       North Caribou Lake (aka Round Lake and Weagamow Lake) is 76 km
                to the northwest.

        o       Wunnumin Lake is 84 km to the east-northeast.

        o       Cat Lake is 140 km to the southwest.

        o       Mishkeegogamang (aka Osnaburgh) is 128 km to the south.

        o       Pickle Lake and Central Patricia are 24 km north of
                Mishkeegogamang.

        Wunnumin Lake and Kingfisher Lake are affiliated with the Shibogama
        First Nations Council. Cat Lake and Caribou Lake are affiliated with the
        Windigo First Nations Council. Mishkeegogamang was previously affiliated
        with Windigo, but is now independent.

5.4     ACCESS

        The property is accessed by chartered air service from Thunder Bay. A
        1,500 m gravel strip suitable for STOL-type (short take-off and landing)
        aircraft is maintained year-round on site. During summer, docking
        facilities for floatplanes are available on Opapimiskan Lake. A 45 km
        all-weather road connects the property with the North Road (formerly
        Ontario Provincial Highway 808) that extends north from the town of
        Pickle Lake.

        The communities of Mishkeegogamang and Pickle Lake have year-round road
        access. Communities north of Pickle Lake have winter road access from
        the North Road to Windigo Lake. For the remainder of the year, access to
        these northern communities is by aircraft.

        The community of Pickle Lake serves as a distribution centre for many of
        the northern communities because it has both air and ground freight
        services. It is also a transfer point for air traffic connecting to
        Thunder Bay and Sioux Lookout. Industries operating north of Pickle Lake
        are based on the natural resource sector and include forestry and
        fishing. Tourist and craft activities also create limited levels of
        employment opportunities.

5.5     PROJECT INFRASTRUCTURE

        The major infrastructure consists of the airstrip, some ATCO-type
        bunkhouses, a recreation/kitchen facility, ATCO-type offices, the mill
        buildings, a tailings pond, a portal and conveyor adits, an old
        exploration shaft, a fresh air ventilation raise, and various pump
        stations and drill access roads (see Figure 5-1).


- --------------------------------------------------------------------------------

March 2003                          Page 5-2                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 5-1:  MINE INFRASTRUCTURE ON SATELLITE IMAGE










                                    [PICTURE]














- --------------------------------------------------------------------------------

March 2003                          Page 5-3                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




6.0     HISTORY

        ------------------------------------------------------------------------
        1960           Harold and Alan Musselwhite prospect the region.

        1973           The Musselwhite Joint Venture is formed.

        1973 to 1984   Severa exploration campaigns are carried out.

        1985 to 1986   Surface drilling confirms a discovery with economic
                       potential has been made.

        1986 to 1987   A prefeasibility study is completed.

        1988 to 1989   An underground exploration program is completed. The
                       three remaining partners, Placer Dome (43%), Inco Gold
                       (32%) and Corona (25%), initiate a full feasibility
                       study. The economics do not justify developing the mine.

        1992 to 1993   A drilling program focuses on the OP and PQ mineralized
                       zones.

        1993           Placer Dome purchases the 25% share of Musselwhite
                       acquired by Homestake Mining Co. through the latter's
                       merger with Corona.

        1994           An underground program begins on the T-Antiform
                       structure. The PQ zone is explored by surface diamond
                       drilling.

        1994 - 1995    Sinking of exploration shaft commences.

        1995           All -weather road connection to north road is completed.
                       Portal excavation commences.

        1996           The Musselwhite Joint Venture partners decide to put the
                       property into production, and construction begins
                       immediately following completion of a feasibility study.
                       Underground development of the T-Antiform deposit, and
                       open pit mining of the OP zone, begin.

        1997           The first gold bar is poured on 10 March 1997, and the
                       mine enters commercial production on 1 April 1997.
                       Production from the open pit is suspended in August 1997
                       (but resumes later in mine life on the Snoppy open pit).

        2001           One million ounces are produced as of 7 November 2001.

        2002           Underground crusher and conveyor are commissioned.

        2002 to 2003   A merger of Kinross, TVX, and Echo Bay is proposed and
                       completed. The new Kinross Gold Corporation acquires
                       approximately 32% of the Musselwhite Mine.
        ------------------------------------------------------------------------

        The Weagamow-North Caribou Lake belt was first mapped by Satterly (1941)
        at a scale of 1" to 1 mile. Emslie (1962), Thurston (1979) and Andrews
        et al. (1981) subsequently mapped the area at a reconnaissance scale. In
        1960, the ODM (now OGS) completed an airborne magnetic survey over the
        belt at a scale of 1" to 1 mile.

        From 1984 to 1986, an integrated geosciences survey of the belt was
        undertaken by the Ontario Geological Survey. This work included bedrock
        and surface mapping, mineral deposit and aggregate assessment studies,
        and reconnaissance till prospecting for gold. Results of this work are
        reported by Breaks et al. (1984, 1985, and 1986) and Piroshco and
        Shields (1985). The area was also covered by an airborne electromagnetic
        and magnetic survey in 1985 (OGS 1985).


- --------------------------------------------------------------------------------

March 2003                          Page 6-1                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        Kenpat Mines Ltd first discovered gold mineralization in the Opapimiskan
        Lake area, in 1962. Exploration efforts were restricted to a
        gold-bearing quartz-carbonate vein on the north shore of Opapimiskan
        Lake, and to an occurrence named "IF Showing" on the south shore. Late
        in 1963, Kenpat conducted geophysical and geological mapping surveys,
        performed extensive trenching, and completed 20 diamond drill holes
        totalling 1,171 m prior to abandoning the property.

        The Musselwhite Joint Venture was formed in 1973 to explore the
        Opapimiskan Lake area for gold mineralization. Three surface gold
        showings, the No.1, No.2, and Everyway showings, were discovered by
        Harold and Allan Musselwhite by panning regolith material covering iron
        formation outcroppings on the south shore of Opapimiskan Lake.

        During the period 1973 through 1983, considerable exploration in the
        form of prospecting, geological mapping, soil and rock sampling,
        trenching, geophysical surveying, and extensive surface diamond drilling
        was completed. In addition, a cut and chained picket grid, with lines at
        400-foot centres, was established and used as control over the entire
        property. This grid has not been maintained and, although it can still
        be seen in selected areas, is of little value to present exploration.

        In the fall of 1983, construction of the winter access road was
        initiated to facilitate an underground exploration and bulk sampling
        program on the West Anticline area. A 605 m ramp was driven to access
        mineralization on the 215 m level. During the program, a 5,180 t bulk
        sample was mined and 1,756 m of underground drilling was completed. In
        November 1984, the project was completed and the excavations were
        allowed to flood. The results of this work, documented in the "Report on
        the 1984 Underground Exploration and Bulk Sampling Program, West
        Anticline Area, 215 Level, Riggs et al. " failed to substantiate the
        grade and continuity of mineralization indicated from surface drilling.
        As a consequence, exploration ceased in this portion of the property.

        In 1985, a limited surface diamond-drilling program was conducted to
        test other favourable iron formation targets on the property and to
        maintain the remaining mining claims in good standing. Two significant
        drill intersections were reported from targets in the East Bay Area.
        Following an office compilation program, surface drilling in 1986
        confirmed that a discovery with economic potential had been made.

        Through 1986 up to September 1987, four separate gold zones were
        identified and delineated. In the fall of 1987, a prefeasibility report
        addressing the economic viability of mining the T-Antiform deposit was
        completed. Based on the results of this study, an underground
        exploration program was initiated in January 1988 to test this
        mineralized zone. In conjunction with this underground program, surface
        diamond drilling continued during the winter months in 1988 and 1989,
        with the objective of delineating the plunge extent of the T-Antiform
        Deposit. A 240 m vertical shaft was excavated with drifts and


- --------------------------------------------------------------------------------

March 2003                          Page 6-2                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        cross-cuts developed on the 100 m, 150 m, and 200 m levels. A 5,500 t
        bulk sample and 178 underground diamond drill holes were completed in
        order to evaluate the potential of the T-Antiform. Once again, the
        project was deemed to be uneconomic and the workings were allowed to
        flood.

        A small surface drill program was conducted in early 1992, with the
        objective of locating a high-grade gold zone in order to revive the
        project. In the fall of 1992, PDI geologists persuaded management the
        property had 10 Mt potential, which could support a 2,500 t/d operation
        and provide an attractive cash flow. Late in 1992, PDI acquired
        Homestake's 25% interest in the property. In January 1993, accelerated
        exploration began, with the principal objectives of defining the extent,
        grade and continuity of the T-Antiform deposit between l0000N and
        10500N, and evaluating the open pit potential of the OP Zone. During
        1994, diamond drilling continued on the north extension of the
        T-Antiform and on near-surface targets with open pit potential. In
        addition, a major underground program to dewater and refurbish the old
        1989 workings was instituted, to collect a 30,000 t bulk sample and to
        conduct approximately 28,000 m of underground diamond drilling from
        10000N to 10500N.

        After re-examination of all available data in February 1996, the
        decision was made between Placer Dome and TVX Gold to go ahead with
        construction of a 3,300 t/d mine with Placer Dome as the operator.
        Construction began shortly thereafter.

        The extraction of the OP zone in the open pit workings began in August
        1996, and full production was initiated from the underground workings in
        early April of 1997.

        The mine has recently undergone a major capital expansion that included
        the installation of underground crushing and conveying facilities, and
        upgrading of mill facilities in an attempt to expand production to 4,000
        t/d this year.

        To date (March 2003) the operation has milled approximately 7.2 Mt of
        ore at a head grade of about 5.79 g/t Au, for a total of approximately
        1.28 million recovered ounces.


- --------------------------------------------------------------------------------

March 2003                          Page 6-3                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




7.0     GEOLOGICAL SETTING

        After extensive discussions with the Musselwhite geological staff, an
        underground tour of active headings, and a review of diamond drill core,
        AMEC is satisfied that the level of understanding of the geology at
        Musselwhite is excellent. Highly skilled staff are using appropriate
        techniques to gather, store and utilize a large amount of detailed
        geological data.

7.1     REGIONAL GEOLOGY

        The Musselwhite deposit is situated near the northeastern margin of the
        northwest-trending North Caribou Greenstone Belt (Figure 7-1). This belt
        consists of a narrow elongate swath of metavolcanic and metasedimentary
        supracrustal assemblages that extend 160 km in an overall northwest
        direction. The belt is comprised of three linear segments, east-west,
        north-northwest, and west-northwest. Another branch of the greenstone
        belt extends to the southwest from the point where the west-northwest
        and north-northwest segments join. This triple junction forms complex
        geometries and is the locus of outcropping iron formation, known gold
        mineralization, and the Musselwhite Mine.

        The Ontario Geological Survey (Breaks et al. 2001) has subdivided the
        belt into eight litho-tectonic, supracrustal assemblages based on
        spatial relations, assemblage bounding features, and age. Of these, the
        Opapimiskan Lake metavolcanic assemblage comprises the rocks in the
        vicinity of the Musselwhite Mine and hosts two principle suites of iron
        formation known as the Northern and Southern Iron Formation. Surrounding
        the Opapimiskan Lake assemblage to the southwest and northeast are the
        South Rim and North Rim metavolcanic assemblages, respectively.
        Stratigraphically above the Opapimiskan Lake metavolcanic assemblage is
        the Eyapamikama Lake metasedimentary assemblage. This group of rocks
        consists mainly of greywacke with minor conglomerate, possibly of the
        Timiskaming type. Younger multi-stage tonalite-granodiorite plutons
        bound portions of the greenstone belt (see Figure 7-2).

        Based on current age dating information from the North Caribou and other
        greenstone belts in the province, the most prolific period of greenstone
        belt formation was in the 2.9 to 2.8 Ga period. Rock samples from the
        Musselwhite Mine area are currently being dated.

        Much of the greenstone belt, including the mine area, is covered by
        water and glacial overburden with only rare outcrop exposures. For this
        reason, interpretation of the geology from the surface is difficult and
        heavily reliant upon geophysical techniques. One such aeromagnetic
        interpretation is presented as Figure 7-3. A regional stratigraphic
        section is presented as Figure 7-4.


- --------------------------------------------------------------------------------

March 2003                          Page 7-1                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 7-1:  NORTH CARIBOU GREENSTONE BELT ASSEMBLAGES











                                    [PICTURE]















- --------------------------------------------------------------------------------

March 2003                          Page 7-2                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 7-2:  OGS REGIONAL MAPPING
















                                    [PICTURE]















- --------------------------------------------------------------------------------

March 2003                          Page 7-3                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 7-3:  AEROMAGNETIC LITHO-STRUCTURAL INTERPRETATION














                                    [PICTURE]

















- --------------------------------------------------------------------------------

March 2003                          Page 7-4                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 7-4:  REGIONAL STRATIGRAPHIC COLUMN











                                    [PICTURE]

















7.2     PROPERTY-SCALE LITHOLOGY AND STRATIGRAPHY

        HANGING WALL VOLCANIC ROCKS - The youngest Archean stratigraphic unit
        recognized on the property is referred to as the Hanging Wall Volcanic
        rocks. This unit comprises a sequence of thickly bedded felsic
        (dominantly rhyolitic in composition) volcaniclastic sediments, ranging
        in grain size from ash-tuffs to coarse polymictic volcaniclastics, with
        minor interbedded flows. Stratigraphic relationships are shown in Figure
        7-5.


- --------------------------------------------------------------------------------

March 2003                          Page 7-5                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 7-5: SCHEMATIC SECTION TO ILLUSTRATE THE STRATIGRAPHIC RELATIONSHIP OF
THE FELSIC VOLCANICS










                                    [PICTURE]













        NORTHERN IRON FORMATION - The Northern Iron Formation (NIF) is
        conformably below the Hanging Wall Volcanic rocks and constitutes a
        thick sequence of iron-rich chemical and clastic sedimentary rocks. The
        internal stratigraphy of the Northern Iron Formation grades from a
        hanging wall sequence of biotite-rich +/-garnet schist (4F), through a
        garnet-amphibole-chert iron formation (4EA), and into a chert-magnetite
        iron formation (4B) at the base of the sequence. Contacts between
        individual units in the NIF are often gradational, with units in the
        upper portion interleaved, suggestive of contemporaneous clastic and
        chemical sedimentation.

        FOOTWALL MAFICS/ULTRAMAFICS - Stratigraphically below the NIF are the
        footwall basaltic and ultramafic rocks, which are balsaltic komatiite in
        composition. A sub-marine origin is inferred from locally developed
        pillow structures. Spinifex textures have not been noted.


- --------------------------------------------------------------------------------

March 2003                          Page 7-6                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        SOUTHERN IRON FORMATION - The footwall mafic sequence is underlain by
        the Southern Iron Formation (SIF), a sequence of thinly-bedded
        chert-magnetite iron formation. Minor units of a more clastic origin
        containing garnet, amphibole, and biotite occur throughout.

        BASEMENT BASALTS - The SIF is underlain by a thick sequence of
        tholeiitic basaltic rocks. The unit consists of massive, pillowed, and
        locally differentiated flows or sills.

        FELSIC INTRUSIVES (PEGMATITES) - Deep diamond drilling in 2000 beneath
        the T-Antiform intersected a number of narrow "felsic dykes" with fine-
        to coarse-grained textures that intrude and crosscut the entire
        volcano-sedimentary sequence. However, there is little evidence of their
        timing relative to gold mineralization, as they have not been noted
        proximal to, or in contact with, any of the known ore zones.

7.3     MINE SCALE LITHOLOGICAL AND STRATIGRAPHIC RELATIONS

        The stratigraphy of the mine area is relatively simple, consisting of
        basalt, an iron formation suite of lithologies, and a felsic volcanic
        unit. These rock types appear to maintain a consistent stratigraphic
        relationship and unit thickness (except for tectonic thickening and
        fault duplication) over a broad area beyond the limits of the mine area.
        The basic stratigraphic relations are indicated in Figure 7-6. Through
        time and changes in logging protocol, the nomenclature for various units
        has evolved. The list below describes the stratigraphy and its context
        within the mine area.


- --------------------------------------------------------------------------------

March 2003                          Page 7-7                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 7-6:  SCHEMATIC MINE SCALE STRATIGRAPHIC COLUMN











                                    [PICTURE]













        "BVOL" - All mafic and ultramafic rocks have been lumped into a single
        unit called Bvol (basic volcanic). No distinction has been made between
        basalt stratigraphically beneath, within, or above iron formation units
        (as has been attempted in the past). This is the country rock to the
        deposit, although it locally hosts ore-grade intercepts in drill holes.

        There are high magnesium or komatiitic basalts within the sequence. Some
        of these units might be sufficiently continuous to serve as markers, but
        inconsistency in recognition of this rock type in drill logs precludes
        its use as a marker unit.


        "INTRAFORMATIONAL" - Intraformational BIF units occur within the basalt
        sequence at a unique stratigraphic position above the 4b-4ea-4f
        sequences. These units apparently lack the stratigraphic continuity of
        other BIFs and appear as irregular bands within the basalt sequence.

        "SHEARED BASALT" - Sheared basalt is locally altered and metamorphosed
        to biotite or amphibole-garnet schist. Where this occurs, it has been
        logged sometimes as 4e or 4f and displays a lack of continuity that is
        characteristic of a shear zone. This altered


- --------------------------------------------------------------------------------

March 2003                          Page 7-8                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        basalt is different from biotite- or amphibole-garnet schist that is a
        stratiform unit within the main iron formation suite.

        "4B" - This is a chert-magnetite iron formation consisting of
        interlayered fine to coarse laminae of chert and magnetite (see
        frontispiece). Some sections of 4b also contain variable amounts of
        biotite, amphibole, garnet, and staurolite, and may grade locally to
        other rock types such as 4e, 4f, or 4ea. Individual bands within 4b are
        continuous over distances of more than several meters (the limit of
        exposure in underground faces). Elsewhere, folding, faulting, and
        tectonic attenuation limit the continuity of individual layers. Overall,
        the unit maintains lateral (strike and dip) continuity over a broad area
        of the greenstone belt.

        "4EA" - This is an amphibole-garnet-chert-magnetite iron formation that
        hosts most of the ore of the Musselwhite deposit. It maintains a
        consistent stratigraphic thickness and position with respect to
        underlying 4b and overlying 4f. However, 4ea may locally be a
        metamorphosed or altered equivalent of 4b rather than a separate
        stratigraphic unit. Based on stratigraphic continuity of this and other
        units, however, it is improbable that more than a minor amount of 4ea
        can be considered to be an altered condition of 4b. This unit does not
        occur in association with all 4b units. Where it occurs as thin layers
        within the basalt sequence, the unit is referred to as
        "intraformational".

        "4F" - This biotite-garnet schist rock type occurs consistently between
        4ea and the overlying basalt. Its local absence at this stratigraphic
        location is believed to be the result of faulting. It is also present as
        an "intraformational" unit within basalt. These irregular occurrences
        may be real stratigraphic units or may be altered and metamorphosed,
        sheared basalt.

        "AVOL" - This unit consists of felsic volcanic rock variously
        interpreted as intrusive, extrusive, and tuffaceous. Quartz crystal
        content is apparently variable but this may be a function of
        preservation under varying degrees of tectonism. Avol is the
        stratigraphically highest unit observed within the model and it is
        truncated on the west side by a shear zone. The east side may also be
        tectonized, but stratigraphic conformity with units to the east and
        extensive lateral continuity of that conformable contact suggests that
        the contact is stratigraphic and not tectonic. Structure

        The lithologies exposed at Musselwhite have been subjected to several
        deformation events. Stewart et al. (1989) recognized at least three
        phases of deformation, while Hall and Riggs (1986) postulated there
        could be four. The three-phase interpretation is summarized below:

        D1 is represented by an isoclinal folding event that is only locally
        preserved. Where observed, it is preserved within D2 fold hinges within
        chert-magnetite horizons. Riggs et al. (1984) reported that the D1 fold
        axis is oriented toward the northwest, parallel to the D2 fold axis with
        a plunge of 20(degree) to 50(degree).


- --------------------------------------------------------------------------------

March 2003                          Page 7-9                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        D2 is the dominant structural fabric on the property. Large-scale
        folding associated with this event includes the West Anticline antiform
        and Easy Bay synform. The fold axis trends northwest, and fold noses
        plunge 30(degree) to 40(degree) in the West Anticline, and 5(degree) to
        18(degree) in the East Bay synform. Stewart et al. (1989) also noted
        that the superimposition of F2 folds on Fl folds produces Type 1
        basin-and-dome interference patterns. These features are elongated
        parallel to S2, and as a result take the form of canoe-shaped
        structures.

        D3 is variably interpreted as either a regional, broad wavelength
        warping of the F2 fold axial planes about a northeasterly F3 axis, or as
        a well-developed crenulation cleavage.


- --------------------------------------------------------------------------------

March 2003                          Page 7-10                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




8.0     DEPOSIT TYPES

        The mineralization at Musselwhite can be classified as an Iron Formation
        hosted gold deposit. Typically, gold in these deposits occurs in
        cross-cutting quartz veins and veinlets or as fine disseminations
        associated with pyrite, pyrrhotite, and arsenopyrite hosted in iron
        formations and adjacent rocks within volcanic or sedimentary sequences
        (McMillan 1996).

        Mineralization is generally within, or near, favourable iron formations.
        Most deposits occur adjacent to prominent regional structural and
        stratigraphic features, and mineralization is often related to local
        structures. Contacts between ultramafic (commonly komatiitic) rocks and
        tholeiitic basalts or sedimentary rocks are important. All known
        deposits occur in Precambrian sequences; however, there are some
        potentially favourable chemical sediment horizons in Paleozoic rocks.
        Changes in pinch-outs and facies within geologically favourable units
        are important loci for ore deposition (McMillan 1996).

        Other examples of this style of deposit in Canada are Lupin and Cullaton
        Lake (Northwest Territories), and in Detour Lake, Madsen Red Lake,
        Pickle Crow, and Dona Lake (Ontario). International examples are
        Homestake (South Dakota, USA); Mt. Morgans (Western Australia); Morro
        Vehlo and Raposos, Mineas Gerais (Brazil); Vubachikwe and Bar 20
        (Zimbabwe); and Mallappakoda, Kolar District (India).


- --------------------------------------------------------------------------------

March 2003                          Page 8-1                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




9.0     MINERALIZATION

9.1     STYLES OF GOLD MINERALIZATION

        Anomalous gold concentrations occur property-wide and within all of the
        major lithologies. However, mineralization is best developed in the 4ea
        iron formation where structural permeability has been increased by
        folding, brittle/ductile deformation, or a combination of both. Figure
        9-1 illustrates the location of the various mineralized zones of
        economic interest identified to date on the property.

        FIGURE 9-1:  ZONES OF ECONOMIC MINERALIZATION








                                    [PICTURE]



        A positive correlation exists between gold and pyrrhotite mineralization
        within the T-Antiform. In general terms, this translates to 1 g/t Au for
        each percentage increase in pyrrhotite, up to approximately 15%.

        Two broad mineralization styles have been documented based on
        contrasting mineralogical and structural characteristics. The first
        style, known as quartz-pyrrhotite


- --------------------------------------------------------------------------------

March 2003                          Page 9-1                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        veining/flooding, is dominant in competent lithologies and is locally
        crosscutting. The second style, known as strata-bound sulphide
        replacement, occurs primarily as halos to the zones of quartz flooding.

9.1.1   QUARTZ-PYRRHOTITE VEINING/FIOODING

        Quartz-pyrrhotite veins/floods are composed of massive, glassy-blue to
        grey-blue quartz and up to 20% fine- to medium-grained pyrrhotite
        locally. Accessory minerals include albite, almandine garnet and
        calcite, minor arsenopyrite, pyrite, chalcopyrite, and native gold.
        Sulphide mineralization within the veins is strongly structurally
        controlled, occurring within small-scale boudins, along the margins of
        the veins, and as fine stringers within the vein itself. Visible native
        gold, usually the size of a pin tip, is commonly observed as isolated
        specks within quartz; however, the majority of the gold, along with
        chalcopyrite, occurs within pyrrhotite micro-fractures.

        Quartz-pyrrhotite veins occur as anastomosing networks of multiple
        veinlets that pinch and swell along strike as well as up and down dip.
        Vein systems appear to have reasonable continuity, and have been mapped
        along strike over distances as long as 50 m with little variation.
        Individual veins typically range from <1 cm to 3 cm in width and rarely
        exceed 50 cm.

9.1.2   SULPHIDE REPLACEMENT

        Sulphide replacement style mineralization is characterized by 2% to
        locally 15% fine-grained disseminated pyrrhotite, trace to locally 2%
        arsenopyrite, trace to 2% pyrite, and minor native gold and chalcopyrite
        occurring within garnet-rich, silicate domains. Gangue minerals consist
        of almandine garnet, quartz and/or chert, grunerite, actinolite,
        biotite, magnetite, calcite with accessory epidote, and zircon.
        Pyrrhotite occurs as disseminated xenoblastic grains and as late-stage
        fracture fillings concentrating within low-pressure domains.
        Fine-grained visible gold is commonly observed within poikiloblastic
        garnets and within garnet strain shadows (Stewart et al. 1989).

        Strata-bound mineralized zones are intimately associated with the
        presence of quartz-pyrrhotite vein systems and appear to envelop them.
        As a result, the zones appear to be intensely silicified, although bulk
        chemical analysis suggests that no appreciable enrichment in silica
        content has occurred. Consequently, the width as well as the vertical
        and strike continuity of strata-bound mineralized zones is directly
        reflected by the continuity of quartz-pyrrhotite vein systems.

9.2     GEOLOGICAL CONTROLS ON GOLD MINERALIZATION

        The concentration of sulphide and gold mineralization is very strongly
        controlled by structure, which in turn is intimately affected by
        lithology. Quartz-pyrrhotite veins


- --------------------------------------------------------------------------------

March 2003                          Page 9-2                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        occupy dilatant, S2 axial planar fracture cleavage surfaces. The
        cleavage is best developed in the hinge areas of F2 minor antiformal
        closures, hence the incidence of veins increases dramatically within
        these structures. Along limb structures, where the cleavage is
        subparallel to the stratigraphy, small-scale deflection of the cleavage
        planes of continuous vein mineralization is impeded.

        Strata-bound sulphide mineralization is also structurally controlled. On
        a microscopic scale, disseminated pyrrhotite favours low-pressure garnet
        strain shadows and is concentrated within orthogonal and conjugate
        fracture pairs within garnet-porphyroblasts. On a much larger scale,
        strata-bound mineralization appears to be concentrated in close
        proximity to steeply dipping longitudinal faults within major fold
        hinges and along steeply dipping limbs of these structures, subparallel
        to axial planes. In areas where the limbs of a fold dip at a shallow
        angle, strata-bound mineralization decreases rapidly away from the axial
        plane (see Figure 9-2)

        FIGURE 9-2:  TYPICAL ORIENTATION OF LONGITUDINAL FAULT








                                    [PICTURE]







        The 55 fault in Figure 9-2 displays the general orientation of the
        longitudinal faults that both thicken the Northern Iron Formation and
        provide fluid pathways for mineralization. The blue arch represents the
        upper contact of the formation.

        The role of the longitudinal faults in the genesis of the orebodies is
        still under investigation. The steep, east-dipping longitudinal faults
        strike 3(degree) to 5(degree) west of the strike of the T-Antiform axis.
        Mineralization appears to be directly related to the intersection


- --------------------------------------------------------------------------------

March 2003                          Page 9-3                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        of these faults with the 4ea iron formation, and where these fault
        systems are absent, gold mineralization is either greatly reduced or
        missing altogether. This results in an apparent migration of grade from
        east to west as you move north through the T-Anticline.

        Mineralization is also preferentially concentrated in antiformal fold
        closures and along attenuated limbs. Axial planar cleavage, developed as
        a result of F2 folds, also appears to play a significant role in the
        current distribution of gold mineralization. The best-developed axial
        planar cleavage occurs within a zone of ductile deformation. Archer
        (1994) feels the East Bay synform roughly defines this area. Structural
        interpretation from detailed magnetic data supports this hypothesis. In
        areas with more brittle deformation, such as the West Anticline,
        mineralization is less focused. Hall and Rigg (1986) have demonstrated
        that gold mineralization at Musselwhite was contemporaneous with peak
        metamorphism at about 530(degree)C to 550(degree)C and a pressure of 3
        kb.

9.3     DETAILED MINERALIZED ZONE DESCRIPTIONS

9.3.1   DEPOSITS ALONG THE T-ANTIFORM

        The T-Antiform structure is host to the largest known gold deposit on
        the Musselwhite property. The structure has been evaluated and tested by
        diamond drilling from where it subcrops at 9150N to 12400N, a distance
        of 3,250 m. While the structure is well developed along this entire
        length, the gold mineralization decreases rapidly to the north of
        11800N.

        The T-Antiform is an asymmetrical fold with the right limb being
        stretched and almost detached from the left limb. This division was used
        in 1989 to divide the antiform into two deposits: the "T" deposit and
        the "S" deposit. The T deposit can be further subdivided into three
        separate zones. From west to east they are the "WA", "T" and "C" zones.
        Each zone is dominated by a second-order antiform. Areas containing weak
        mineralization between these zones are dominated by synforms. All three
        zones in the T deposit trend at 317(degree), are near-vertical dipping,
        and plunge 16(degree) to 18(degree) to the northwest. Based on gold
        grade distribution in diamond drill holes, there appears to be an en
        echelon movement from west to east going from the south to the north in
        the better-mineralized structure (i.e., the WA zone is better
        mineralized in the southwest portion of the T deposit and the C zone has
        the better mineralization in the northeast portion of the T deposit).

        The relative positions of these zones within the T-Antiform are shown on
        Figure 9-3.


- --------------------------------------------------------------------------------

March 2003                          Page 9-4                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        FIGURE 9-3: SCHEMATIC SECTION SHOWING RELATIVE POSITIONS OF S, C, T & WA
        ZONES













                                    [PICTURE]



















- --------------------------------------------------------------------------------

March 2003                          Page 9-5                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




9.3.1.1 WA ZONE

        The WA zone is hosted within the first second-order antiform on the west
        side of the T-Antiform. A smaller structure to the west is also
        mineralized; however, it generally lies too far west to be considered
        part of the WA zone. The zone is axial planar, and locally, this axial
        plane appears to have a slight grid east-facing curve. The top of the WA
        zone is 50 m to 70 m below the crest of the T zone. Although there is no
        hard evidence, there could be a shear between the WA and T zones, with
        the right side being down dropped.

        The WA zone is a tabular body that is wider at the base and tapers
        towards the top in the antiform fold closure. It has a maximum vertical
        height of approximately 100 m and an average width of 6 m, but it
        expands locally to 10 m at its base. Mineralization at the base appears
        to rapidly thin into two to three sulphide-quartz rich shoots 1 m or
        less in size. The top of the zone tapers to <2 m in a fold closure. The
        structure has been traced from 9200N to 10800N; however, the bulk of the
        zone is between 9400N and 10500N. North of 10500N there appears to be
        limited potential left in the WA structure. The west side of the WA zone
        is defined by a geological contact, usually biotite schist, while the
        east side is more gradational.

9.3.1.2 T ZONE

        The T zone is situated in the next two second-order antiformal closures.
        Again, the zone is subvertically dipping, and mineralization is oriented
        along axial planes. The height of the zone is generally 50 m to 75 m,
        but can reach about 100 m when quartz-sulphide rich axial planar tails
        are included. At certain locations, such as on 9550N, one of these tails
        appears to merge with the WA zone. The T zone is consistently the widest
        and often reaches a thickness in excess of 20 m. The top of the zone
        terminates in fold closures, while the bottom feathers out into several
        narrow axial planar stringers. The zone can be traced down-plunge from
        where it subcrops at 9200N to 10700N. The width of the T zone appears to
        decrease down-plunge. Partly due to the lack of drilling north of
        10700N, there is a distinct possibility the T zone will not extend far
        beyond 10500N.

9.3.1.3 C ZONE

        The C zone (formerly S-Crest) occupies the eastern two second-order
        antiformal closures. The zone is subvertically dipping, and the gold
        mineralization is axial planar. In the southern portion, the C zone
        appears to consist of two separate zones, one with a vertical height of
        25 m to 30 m, and the other with a height of 50 m to 60 m. By 9500N, the
        smaller zone disappears (possibly moved into the S zone) and the larger
        zone has increased in height to 90 m to 110 m. The width of the C zone
        varies from 3 m to 4 m and is locally greater than 10 m. The C zone can
        be traced along plunge from 9200N to 11200N and is open along plunge.
        The zone broadens around


- --------------------------------------------------------------------------------

March 2003                          Page 9-6                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        9700N and remains strong until at least 10900N. Beyond 10900N, the zone
        appears weaker, but this may partly be due to the low density of
        drilling.

9.3.1.4 S ZONE

        The S zone is located on the attenuated, and partly detached, east limb
        of the T-Antiform structure. This fold structure extends beyond the
        limits of diamond drilling in both directions (i.e., it starts to the
        south of 9150N and extends north of 11200N). The plunge of the S zone is
        consistently shallower than that of the C, T, and WA zones. The S zone
        plunge averages 10(degree) to 12(degree), while the other zones average
        15(degree) to 18(degree). The amplitude of the S limb increases in a
        northward direction from less than 50 m in the south to at least 200 m
        by 11200N. Starting about 10600N, the volume of gold mineralization
        associated with the S limb increases significantly and by 11,000N the S
        limb definitively becomes the dominant mineralized structure.

        In the southern portion of the S zone (south of l0000N), there are
        usually two or three individual pods. These pods generally have a
        vertical height of 10 m to 40 m and a width of 3 m to >10 m. Because of
        their smaller size, the continuity down-plunge could be more dynamic.
        Between l0000N and 10175N, limited drilling in the S zone precludes any
        comment on the zone in this area. North of 10200N, drilling again
        intersects S limb mineralization. By 11100N, there are three principal
        mineralized zones in the S fold structure, which becomes a separate
        antiform in its own right. Mineralization occurs in the limbs and in the
        core between the limbs. Due to limited drilling, it is difficult to
        define the extent of each zone. The zones in the east and west limb have
        a vertical height of at least 75 m and a width of 4 m to 8 m. The core
        zone has a vertical height of 25 m to 40 m and a width of up to 15 m.

9.3.2   PQ DEPOSIT

        The PQ deposit is situated within the Northern Iron Formation horizon of
        the northeast limb of the East Bay synform. Results from diamond
        drilling conducted on 50 m centres indicate a tabular, strata-bound body
        dipping steeply at about 85(degree) to the northeast and plunging gently
        at 5(degree) to 10(degree) to the northwest. The deposit has a plunge
        length of approximately 1,300 m, and averages 50 m vertically and 4 m in
        width.

        Gold mineralization is spatially associated with 3% to locally 25%
        disseminated specks, wisps, and stringers of pyrrhotite. The sulphide
        distribution is structurally controlled by the orientation of the S2
        fracture cleavage and is focused within tight F2 minor fold flexures. In
        a typical section, the footwall contact is generally well defined by a
        non-mineralized garnet-biotite schist horizon, except toward the top and
        bottom of the zone where mineralization tapers and tends to diverge from
        this position. The hanging wall contact is defined by an assay cutoff.


- --------------------------------------------------------------------------------

March 2003                          Page 9-7                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




9.3.3   OP DEPOSIT

        The OP deposit is situated within the Northern Iron Formation horizon on
        the southeast limb of the East Bay synform. Except for different folding
        styles, the OP deposit mirrors the PQ deposit. Results from diamond
        drilling on 50 m centres indicate a tabular body with axial planar
        mineralization dipping at 70(degree) to the northeast and plunging
        7(degree) to the northwest. The deposit subcrops at 8200N and can be
        traced to 8700N, beyond which it rapidly fades out. The zone is 5 m to
        15 m in width and because it was tested for its open pit potential, it
        has not been delineated below a depth of 65 m. Indications are there is
        additional mineralization below 65 m, but it is probably not extensive.

        Gold mineralization is associated with trace to 10% stringer and wispy
        pyrrhotite, trace arsenopyrite, and 5% to 15% quartz stringers and
        floods. The sulphide and quartz stringers are controlled by F2 axial
        planar structures. Well-mineralized iron formation is generally in the
        central portion of the unit and does not favour either the footwall or
        hanging wall contact. Gold mineralization contacts are often sharp and
        generally related to sulphide content; however, the lower overall
        sulphide content results in less precise visual cutoffs compared to
        other zones.

9.3.4   WEST ANTICLINE DEPOSIT

        The West Anticline area is a structurally complex environment comprised
        of numerous second- and third-order F2 minor fold closures. These
        structures display curvilinear plunge axes with a regional trend of
        30(degree) to 40(degree) to the northwest. The area has been further
        subdivided into four principal exploration areas, the West Anticline,
        Bay, Camp, and Canoe zones.

        Within the West Anticline zone, quartz-pyrrhotite vein systems occur
        extensively throughout the middle iron formation, from the footwall to
        hanging wall contacts. Veining appears best developed in F2 antiformal
        closures. Throughout these favourable areas, the spacing of the veins is
        between 1.5 m and 2.5 m. The veins are well developed and display good
        lateral continuity.

        Strata-bound mineralization is extensive throughout the area, with the
        best zones developed within a garnet-biotite-chert-magnetite unit
        directly beneath a well-bedded, grunerite-rich iron formation domain.
        There is also relatively extensive strata-bound mineralization, lower in
        the stratigraphy; however, it is of lower grade and is more erratic in
        nature.

9.3.5   ESKER ZONE DEPOSIT

        Located within the PQ limb, in the vicinity of the esker dividing
        Opapimiskan Lake, three separately correlated gold zones named the
        Esker, Root, and Core zones have


- --------------------------------------------------------------------------------

March 2003                          Page 9-8                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        been identified. These zones have been traced 900 m along strike, from
        section 11700N to 12600N in a dynamic fold system characterized by a
        northwesterly plunge of 5 m to 10 m.

        Structurally controlled, gold-bearing axial planar quartz-pyrrhotite
        veins result in strata-bound gold zones found primarily within a
        garnet-actinolite-chert-grunerite (4ea) host. Additional work will be
        required to resolve the economic potential within this extremely complex
        geological setting.

9.3.6   W ZONE DEPOSIT

        The W zone is located on the eastern margin of the W antiform. This
        antiform is adjacent to the T-Antiform and is the second major F2
        closure northwest of the East Bay synformal axial plane. Although only
        one diamond drill hole was drilled exclusively to test this environment,
        some 30 additional intersections have been reported in the W zone from
        drill holes directed at the T-Antiform. Further work is required to
        fully outline this zone.

9.3.7   KENPAT VEIN DEPOSIT

        The Kenpat vein is located approximately 90 m from the north shore of
        Opapimiskan Lake. The vein occupies a northwesterly striking,
        subvertically dipping, fissile zone within iron-rich tholeiitic basalts.
        The vein system pinches and swells to a maximum true width of 9.1 m and
        has been traced along strike for 210 m. It is interesting to note that
        this vein occurs in the appropriate position and orientation to
        represent an axial plane to the T-Antiform, which would be found at
        depth if the structure persisted this far north.

        Mineralogically, the vein is composed of quartz and quartz-carbonate
        veinlets interlayered with fine-grained, strongly foliated biotite and
        phyllite, containing 3% to 5% chlorite-amphibole seams, 1% to 2% pyrite
        and/or pyrrhotite, and native gold. A core of medium-grained, barren,
        milky white quartz rimmed by narrow, rusty contact zones characterizes
        the widest veins. Chip channel samples collected in two of the trenches
        in this vein system returned gold values of 5.32 g/t over 6.1 m and 4.68
        g/t over 3.0 m. Drilling conducted by Kenpat Mines in 1963 revealed
        limited economic potential. However, the vein may have potential to
        provide supplementary mill feed in the future.

9.3.8   CAP ZONE DEPOSIT

        The Cap zone is situated in the Bvol package and appears to be draped
        around the T-Antiform structure. The principal horizon is situated
        approximately 20 m to 30 m stratigraphically above the biotite-schist/
        Bvol contact. This horizon and other similarly


- --------------------------------------------------------------------------------

March 2003                          Page 9-9                         [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        stacked horizons in the Bvol were termed "intraformational" iron
        formations in the Feasibility Study by Stewart et al. (1989).

        The Cap horizon is generally thin in the fold limbs (<1 m to 3 m) and is
        tectonically thickened to approximately 5 m to 10 m in fold noses. In
        fold limbs, the unit can be stretched to the point of discontinuity and
        not be intersected in a drill hole. Recent underground evidence has
        indicated the composition of the unit can change fairly dramatically
        over short distances.

        This adds to the difficulty of correlating from drill hole to drill hole
        and from section to section. It is possible that this cap horizon will
        extend the entire length of the T-Antiform deposit, and where it is
        tectonically thickened, may be of economic interest.

        The style and extent of mineralization, and why it occurs in the
        intraformational iron formations, is still under considerable debate.
        One scenario is that the gold-rich fluids followed axial planar
        structures, and mineralization was preferentially precipitated when the
        fluids came into contact with a suitable host. Gold mineralization with
        quartz and pyrrhotite became concentrated in the intraformational iron
        formation and rapidly decreased in adjacent volcanics.

9.3.9   ISLAND ZONE DEPOSIT

        The Island zone is situated in the PQ limb of the East Bay synform.
        Hosted within the Northern Iron Formation, gold mineralization with
        quartz, pyrrhotite, and +/- trace arsenopyrite occurs as stringers and
        in veinlets within variably altered chert-magnetite-
        amphibole-grunerite-garnet iron formation. Mineralized zones appear to
        be associated with second-order F2 antiformal fold closures in the PQ
        limb. Systematic drilling of this target has not been performed. All
        intersections in this zone were incidental as the drill target was the
        T-Antiform deposit. Mineralization has been intersected from 10300N to
        11200N. The style of mineralization is expected to be similar to that in
        the Esker zone at 12000N.

9.3.10  SNOPPY ZONE DEPOSIT

        The Snoppy zone is situated in the Southern Iron Formation from 8150N to
        8400N and from 8650N to 8850N. The zone is located 100 m east of the PQ
        zone and approximately 1 km southeast of the shaft. Gold mineralization
        is associated with trace to 5% pyrrhotite and is hosted in fractures in
        quartz veins. Gold distribution appears to be associated with
        second-order F2 antiformal fold closures in the Southern Iron Formation.

        Mineralization subcrops are 5 m to 20 m wide, shallowly plunging
        5(degree) to 7(degree) to the northwest. Currently known gold grades are
        in the 1 to 3 g/t range. Further work is necessary to determine the open
        pit potential of this zone.


- --------------------------------------------------------------------------------

March 2003                          Page 9-10                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




10.0    EXPLORATION

10.1    RECENT EXPLORATION

        Recent exploration has been focused on defining the extent of
        mineralization down-plunge along the T-Antiform and in the nearby PQ
        Deeps zone with diamond drilling.

        Drilling down plunge on the T-Antiform has demonstrated that the
        structure continues beyond the northernmost drill holes, but gold grades
        are uneconomic to the north of 11800N. Musselwhite staff believe that
        the reduction in grade in this area is due to the increasing distance
        away from the longitudinal fault zones that add to the permeability in
        the better mineralized portions of the T-Antiform. However, based on the
        persistence of the T-Antiform structure, and the presence of gold
        occurrences at the Kenpat zone (stratigraphically above the down-plunge
        projection of the T-Antiform), AMEC concurs that there is good potential
        for the discovery of additional mineralization further along the
        structure in the down plunge direction.

        Mineralization in the PQ Deeps zone is currently being defined by deep
        surface drilling beneath the ice of Opapimiskan Lake. AMEC concurs that
        recent high-grade intersections in the zone are encouraging and warrant
        further diamond drilling.

        Other recent exploration activities include the generation of new 3D
        models to help evaluate the structurally complex stratigraphy of the
        deposits, and the completion of a new high-definition airborne magnetic
        survey with a 40 m line spacing and 30m terrain clearance that has
        provided valuable information to aid in the structural interpretation.

10.2    FUTURE EXPLORATION

        It is highly probable that the Mineral Resources defined at Musselwhite
        are part of a larger Archean system of mineralization, and as such there
        is a reasonable probability that they could grow significantly. The
        Musselwhite Mine has produced almost 1.3 million ounces of gold since
        1997, and currently has a Reserve in excess of 2 million ounces. An
        exploration strategy is in place and it consists of three different
        approaches: (1) understanding and extending known mineralization trends,
        (2) identifying new areas through regional exploration, and (3) new
        business opportunities.

10.2.1  KNOWN MINERALizATION

        A major effort is underway to explore the strike and down plunge
        extensions of known mineralization with diamond drilling. It is intended
        that this exploration will provide sufficient encouragement to enable
        further underground development to be completed, from which infill
        drilling can be conducted to achieve Measured and Indicated Resource
        status. The nature of this exploration is such that deep (plus 1 000 m)


- --------------------------------------------------------------------------------

March 2003                          Page 10-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        diamond drill holes are required. Detailed stratigraphic and structural
        information is gained from these holes, which is being used to update
        the 3 D model and understand the gross geological setting. There is also
        potential for this deep drilling to intersect blind folded stratigraphy
        (sheared portions of anticlines and synclines) that is currently
        unrecognized.

10.2.2  NEW AREAS

        The bulk of the remaining portion of the exploration budget is being
        directed toward regional reconnaissance-type exploration. Particular
        attention is being given to developing a regional scale understanding of
        the geology and tectonics of the area. The primary exploration
        activities will be:

        o       completion of regional mapping traverses to help understand the
                geology and control the regional aeromagnetics

        o       chip sampling (geochemistry, petrology, and assay)

        o       geophysical surveys, including reinterpretation and target
                generation.

10.2.3  NEW BUSINESS OPPORTUNITiES

        Competitor activity in the immediate vicinity of Musselwhite, and also
        in the greater northern Ontario area, is continually monitored to
        identify opportunities for ground acquisition through staking or
        purchase/option. This is evidenced by the recent acquisition through
        staking of the adjacent Karl Zeemel property along the southwest
        property boundary. Previous exploration on the Karl Zeemel property
        indicates the presence of a small, near-surface gold occurrence with
        geological characteristics similar to the Musselwhite deposits.


- --------------------------------------------------------------------------------

March 2003                          Page 10-2                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




11.0    DRILLING

        All exploration and definition drilling conducted on the property to
        date has been diamond drilling. By the end of 2002, a total of 3,261
        diamond drill holes with an aggregate length of 495,033 m had been
        completed at Musselwhite (see Table 11-1). The majority of the core
        collected was NQ-sized. Many holes were collared with HQ- and PQ-sized
        equipment and then reduced to NQ (and sometimes BQ) with depth. A small
        number of early, underground holes were apparently drilled with AQ-sized
        equipment.

        TABLE 11-1:        DRILLING SUMMARY BY YEAR
        ------------------------------------------------------------------------
        YEAR               HOLES                                  METRES
        ========================================================================
        1974                 4                                       320
        1975                12                                       691
        1976                18                                     1,032
        1978                36                                     3,013
        1979                32                                     2,893
        1980                17                                     2,701
        1981                94                                    15,781
        1982                61                                     9,508
        1983                61                                     6,866
        1984                64                                     1,756
        1985                28                                     4,684
        1986               122                                    23,351
        1987                67                                    16,974
        1988                44                                    12,300
        1989               218                                    15,134
        1992                12                                     2,055
        1993               103                                    16,943
        1994               330                                    50,780
        1995               137                                    23,658
        1996               146                                    26,916
        1997               338                                    26,833
        1998               303                                    44,456
        1999               328                                    54,430
        2000               328                                    57,640
        2001               153                                    32,389
        2002               205                                    41,929
        ------------------------------------------------------------------------
        TOTAL              3,261                                  495,033
        ------------------------------------------------------------------------

        Drill hole collar positions are located using a total station surveying
        instrument. The local grid is rotated so the strike direction of the
        T-Antiform is oriented in the north-south direction. Downhole surveys
        were collected with a Sperry-sun single-shot


- --------------------------------------------------------------------------------

March 2003                          Page 11-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        instrument or with acid etch dip tests for all holes drilled prior to
        March 2001 and for short holes (<200 m long) drilled since March 2001
        (azimuth data from the Sperry-sun surveys were ignored due to the
        effects of abundant magnetite on compass measurements). In March 2001, a
        Maxibor light-tube downhole surveying instrument was purchased and has
        since been used since then to survey most of the holes longer than 200
        m. AMEC has observed that at least some of the deep holes surveyed with
        the Maxibor equipment show a significant amount of azimuth deviation.
        Caution should be exercised when interpreting the geology and grade
        distribution of areas defined by pre-2001 drill holes greater than 200 m
        long, because their trajectories are not precisely surveyed.

        The distribution of all diamond drill hole collars is shown on Figure
        11-1 and on a large plan map in Appendix B. The surface and underground
        drill hole collars are colour coded by hole length in Figures 11-2 and
        11-3, respectively.


- --------------------------------------------------------------------------------

March 2003                          Page 11-2                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 11-1:  DISTRIBUTION OF ALL DRILL HOLE COLLARS AT MUSSELWHITE












                                    [PICTURE]












- --------------------------------------------------------------------------------

March 2003                          Page 11-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 11-2:  SURFACE DRILL HOLE COLLAR LOCATIONS AT MUSSELWHITE











                                    [PICTURE]

















- --------------------------------------------------------------------------------

March 2003                          Page 11-2                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 11-3:  UNDERGROUND DRILL HOLE COLLAR LOCATIONS AT MUSSELWHITE












                                    [PICTURE]














- --------------------------------------------------------------------------------

March 2003                          Page 11-3                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




12.0    SAMPLING METHOD AND APPROACH

        Diamond drill core is sampled by rotating the core perpendicular to the
        foliation and halving it longitudinally with a diamond saw into
        intervals selected by the geologist during core logging. One half of the
        core is collected in sample bags for analysis, and the other half is
        retained for a permanent record.

        Sample intervals are constrained by geology to aid the interpretation of
        gold distribution within and between lithological units. Within
        geologically consistent intervals, the sample lengths are generally 0.5
        m to 1.0 m. Only the potentially mineralized portions of the holes are
        sampled. Generally, 5 m of wall rock material is sampled on either side
        of the main mineralized BIF zones. Two metres of wallrock material is
        sampled on either side of Intraformational BIF or other mineralized
        intervals.


- --------------------------------------------------------------------------------

March 2003                          Page 12-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




13.0    SAMPLING PREPARATION, ANALYSIS, AND SECURITY

        Diamond drill core samples at Musselwhite have been prepared and
        analyzed at a number of laboratories since exploration drilling began in
        1974. Currently, the samples are being prepared and analyzed at three
        different laboratories: the mine lab at Musselwhite, ALS Chemex in
        Thunder Bay, and Accurassay in Thunder Bay. The maximum capacity of the
        mine assay lab is approximately 400 samples per day (including 100
        production samples per day from the mine and mill, and 70 quality
        control samples).

        The sample preparation protocols, especially for the pre-2002 drilling
        campaigns, have not been reviewed in detail. Current protocols at all
        three of the labs are generally similar, with jaw crushers being used to
        crush the core, followed by pulverizing with ring and puck style
        equipment. Since 29 August 2002, all of the samples analyzed at
        Musselwhite's laboratory have been prepared with an automated
        preparation system manufactured by Rocklabs.

        According to Musselwhite staff, all of the assays completed on drill
        core have utilized a fire assay (FA) pre-concentration method followed
        by an atomic absorption (AA) or gravimetric finish on a one assay ton
        aliquot (~30 g). The gravimetric finish is employed if the AA results
        are greater than 20 g/t gold. In AMEC's opinion the sample preparation
        and assaying methods are industry-standard practices.

        A large number of specific gravity (SG) determinations have been
        completed on core samples at Musselwhite. The latest campaign involved
        945 measurements of the mineralized 4ea unit, completed in October 2000
        using a mass air/mass water method. The method involves weighing a
        sample in air, and dividing this value by the difference between the
        mass in air and the mass in water.

        The mean SG from this campaign was 3.30, a value that compares very well
        with the results of 3,027 historical determinations, from which an
        average SG of 3.29 was obtained. For current Mineral Resource and
        Reserve tonnage estimates, an average SG of 3.29 is applied to all
        modelled volumes. In AMEC's opinion the SG used in tonnage estimates is
        appropriate.

        The Musselwhite laboratory has participated in the Geostat round-robin
        assay accuracy program since the lab opened in 1997. Additionally, the
        Musselwhite geology department has employed a set of quality assurance
        and quality control (QA/QC) protocols to monitor the performance of the
        commercial and mine labs. Analytical accuracy is monitored with the
        insertion of commercially prepared standard reference materials
        purchased from Gannet. In 2002, two different standards (02-STD900 and
        02-STD999) were inserted at a rate of approximately one standard per 80
        samples. The results are presented in chronological order in Figures
        13-1 and 13-2.


- --------------------------------------------------------------------------------

March 2003                          Page 13-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 13-1:  2002 ANALYTICAL RESULTS FOR STANDARD 900





                                    [PICTURE]







FIGURE 13-2:  2002 ANALYTICAL RESULTS FOR STANDARD 999





                                    [PICTURE]




- --------------------------------------------------------------------------------

March 2003                          Page 13-2                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        Figure 13-1 demonstrates that Standard 900 often returned assay values
        that were below the three standard deviation tolerance limits. The
        performance of Standard 999 was somewhat better; however, the results
        were commonly within the lower portion of the range of acceptability. As
        well, the moving average trend line is almost always less than the mean
        certified value. Failures beyond the tolerance limits were much less
        frequent with Standard 999 than with Standard 900.

        Based on the results of the standard analyses, it is possible that those
        portions of the Mineral Resource/Reserve model dominated by samples
        assayed in 2002 will be slightly understated. However, it is
        Musselwhite's opinion that the certified mean value for Standard 900 may
        not have been correct due to the difference in performance levels of the
        two standards. AMEC recommends splitting the data sets into Musselwhite
        and ALS Chemex portions to test the theory. If the separated results are
        both similarly low, then Musselwhite's argument for an incorrect
        standard value would be supported. Musselwhite should then review the
        existing data and establish a new value for the standard in question.

        Sample contamination was monitored by inserting blank samples (see
        Figure 13-3 for the results). Several samples returned values greater
        than 0.1 g/t Au. The results for the period 17 September to 15 October
        are particularly noteworthy, with blank assay results as high as 0.48
        g/t Au being returned. This period coincides with the commissioning of
        the automatic sample preparation equipment in the Musselwhite Mine lab.
        Some contamination issues were recognized during the equipment start-up
        phase and remedial action was taken. The sample preparation protocols
        were altered and the core intervals that may have been contaminated
        during this period were re-sampled. AMEC believes that the remedial
        measures being undertaken are proper and that the current blank sample
        program is performing as intended.

        Pulp and reject duplicate samples were inserted to monitor analytical
        precision. Figures 13-4 and 13-5 show the results of the duplicate
        analyses on rejects and pulps, respectively.


- --------------------------------------------------------------------------------

March 2003                          Page 13-3                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 13-3:  2002 BLANK SAMPLE ANALYSES





                                    [PICTURE]









FIGURE 13-4:  2002 REJECT DUPLICATE ANALYSES





                                    [PICTURE]












- --------------------------------------------------------------------------------

March 2003                          Page 13-4                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 13-5:  2002 PULP DUPLICATE ANALYSES





                                    [PICTURE]












        The above graphs demonstrate a moderately good correlation between the
        original and re-assay results. However, AMEC recommends that further
        statistical studies be carried out that include relative difference
        plots and percentile rank relative difference plots to fully assess the
        level of analytical precision.

        Musselwhite's QA/QC program, in concert with the reconciliation results
        discussed in Section 18, ensures an acceptable level of confidence in
        the quality of the data used to estimate Mineral Resources and Reserves
        on the property.


- --------------------------------------------------------------------------------

March 2003                          Page 13-5                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




14.0    DATA VERIFICATION

        ASCII format files containing all of the drill hole header, survey,
        lithology, and assay data were obtained from Musselwhite's Vulcan drill
        hole database. The database consists of 3,261 drill hole records
        containing 260,085 assay records. AMEC imported the files into a
        Microsoft Access database to conduct validation exercises on the header,
        survey, and assay data.

        The assay database was initially checked by sorting all of the records
        according to gold grade. The highest value in the database was 761.83
        g/t Au in hole #0325. This value agreed with the assay entered into the
        drill log (original assay certificates were not available for
        corroboration). The lowest value in the database was -1, which has been
        assigned to a total of 555 records.

        The assay database was further checked by comparing the dumped assays
        for 17 randomly selected holes (0.5% of the database) against the
        "source data." The source data consists of Musselwhite's Laboratory
        Information Management System (LIMS) for holes drilled since 1996. For
        drill holes completed before 1997, the values entered into the drill
        logs were used as the source data, as the original assay certificates
        were not available for validation purposes. No errors were found in this
        validation exercise.

        The dumped collar location data and downhole survey data for the same 17
        holes were also checked against the source data in the drill logs. Once
        again, no original records were available for validation purposes, other
        than the values entered into the drill logs. All of the downhole surveys
        for these holes were completed with a Sperry-sun instrument. As with the
        assay validation, no errors were discovered in this exercise.

        AMEC concludes that the assay and survey database used for the
        Musselwhite Mineral Resource estimation is sufficiently free of error to
        be adequate for Resource estimation.


- --------------------------------------------------------------------------------

March 2003                          Page 14-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




15.0    ADJACENT PROPERTIES

        This section is not applicable.












- --------------------------------------------------------------------------------

March 2003                          Page 15-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




16.0    MINERAL PROCESSING AND METALLURGICAL TESTING

16.1    MILL FLOWSHEET

        AMEC has reviewed the mill process flowsheet prepared by Musselwhite
        Mine personnel (see Appendix C). Although dated June 2001, the version
        provided is assumed to be current because it shows the underground
        crushing chamber, which was completed in May 2002.

        The circuits reflect a fairly standard gold milling approach, using
        conventional crushing/rod milling/ball milling for size reduction and
        incorporating a gravity recovery step in the ball mill circuit. The
        ground slurry is thickened ahead of cyanidation and carbon-in-pulp (CIP)
        processing. Gold from the carbon handling circuit is sludged in four
        electrowinning (EW) cells. Separate dore bars are produced from the EW
        sludge and from the gravity-recovered gold.

        Two thickeners arranged with counter-current cycling of overflows (CCD)
        thicken the tailings to reduce dissolved gold losses in the tailings
        slurry. The thickened slurry is fed into a treatment plant where the
        patented Inco SO2/air process is used to destroy residual cyanide before
        the tailings are discharged into the tailings pond.

16.2    PLANNED FLOWSHEET DEVELOPMENTS

        Capital projects were completed in 2002 to enable a process throughput
        rate of 4,000 t/d. The capital program for the mill involved increasing
        the capacity of the primary crusher with a new underground installation,
        increasing the rod mill rotational speed by 6.7%, installing a larger
        motor, and increasing the rod charge. These changes were required to
        maintain the target grind required for 95% recovery.

        To offset the reduction in leach time caused by the incremental
        throughput, the leach slurry density was increased from the design
        criterion of 50% at 3,300 t/d for 32 hours to 54% at 4,000 t/d,
        equivalent to a retention time of 29.6 hours. AMEC has not assessed the
        potential impact on leach recovery resulting from this shorter residence
        time or the adequacy of the installed power base for the leach and CIP
        agitators to accommodate the higher slurry densities.

        Actual plant throughput in 2001 averaged 3,535 t/d, corresponding to a
        mill utilization rate of 93.6%. Projected utilization for 2003 is 93.5%,
        based on monthly rates of 95% except every fifth month, when major ball
        mill re-lining work is planned. The Strategic Business Plan (SBP) for
        2004 and beyond is based on higher throughput capability and an implied
        mill utilization of 95%. AMEC has not been provided with monthly mill
        performance figures since the mill upgrade was completed.


- --------------------------------------------------------------------------------

March 2003                          Page 16-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        It has been recognized that maintenance systems must be improved if 95%
        utilization is to be consistently achieved. Based on the programs
        currently planned, Musselwhite expects utilization to reach 95.4% in
        2004 and to stabilize at 96% thereafter. Although feasible in theory for
        this type of circuit, AMEC cannot assess the probability of reaching
        this level.

        Musselwhite plans to install an Acacia intensive leaching reactor in
        March 2003 to process the gravity gold concentrate. Its purpose is to
        reduce losses of native gold from the shaking tables and gold that
        cannot be dissolved in the leaching circuit because of the short
        retention time. Gold recovery is budgeted to increase by 0.2%, to 95.2%,
        as a result of this installation. These types of intensive leaching
        reactors are gaining acceptance for this service. A more detailed gold
        balance would be required to determine how much gold is actually
        retained in the leach circuit to warrant the projected 0.2% recovery
        increment. Current leach recovery would have to be in the order of 71%
        to 72%, but no laboratory-scale testwork has been provided as backup to
        confirm this. Overall recovery of the leach circuit feed is 93.5% to
        94.0%.

        Within the leach circuit, the addition of oxygen instead of air in the
        first two leach tanks is credited with increasing leach recovery by 1%
        in the summer, when slurry temperatures are higher. The gradual increase
        in slurry density to compensate for higher throughput over the years has
        probably increased the minimum oxygen requirements for optimum
        cyanidation. The leach tanks are installed outside (CIP tanks are
        inside). If not already done, the tanks should be insulated and fitted
        with a top closure to minimize slurry heat loss and enhance leaching
        kinetics in the wintertime.

        Some wear problems were detected in the CIP tanks, and a re-lining
        program has been budgeted.

        AMEC suggests that Musselwhite consider replacing the current crucible
        furnace with a larger unit. At present the furnace must be recharged two
        to three times to produce each gold bar, and four to seven bars are
        produced over a period of two days each week. This increases labour
        expenses for both operations and security and exposes workers to the
        poor refinery environment for extended periods of time. The repeated
        heating and cooling cycles are also most likely responsible for reduced
        crucible life. It is of note that the refinery environment is expected
        to improve once the Acacia reactor comes on line, however, since the
        high contaminant loading in the current gravity concentrate fed to the
        refinery will be reduced.

16.3    PLANNED THROUGHPUT INCREASE

        The current SBP assumes that the current throughput capacity of 4,000
        t/d will be maintained for the rest of the mine life. Musselwhite has
        considered the possibility of increasing this rate to as high as 6,000
        t/d, but feels that 4,500 t/d is the economic


- --------------------------------------------------------------------------------

March 2003                          Page 16-2                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        break-point where the value of any incremental gold production would be
        surpassed by additional gold losses and operating costs.

        Musselwhite considers the grinding circuit to be the bottleneck
        preventing additional throughput while maintaining gold recovery at the
        current level. As a first step to alleviate this, the company is
        considering reducing the size of the crushing circuit product. In
        addition, a study is planned to assess the impact of removing
        recirculating ball chips in the ball mill circuit with magnets. The
        potential power efficiency improvement is thought to be in the order of
        1% to 5%; an improvement of 5% has been reported at Escondida with this
        modification. As a result, throughput capability at Musselwhite would
        increase to 4,200 t/d at the same grind size as at present. (Capacity
        would increase to nearly 4,250 t/d if plant utilization increased from
        95% to 96%.) AMEC believes this could be a net benefit to the operation
        and is worth pursuing.

16.4    WATER TREATMENT

        The thickened tailings are treated through the SO2/air system. The
        target level of weak-acid dissociable cyanide (CNwad) in the treated
        solution is 1.5 ppb. Additional degradation that occurs naturally in the
        tailings pond and subsequent polishing ponds and wetlands reduces
        residual cyanide levels to well below the permissible limit of 0.2 ppb.
        Copper, the other mill tailings constituent of concern, is also kept to
        levels well below the required 0.4 ppm by the water treatment and
        management systems.

        In addition to tailings, mine water and site sewerage are discharged
        into the tailings pond. Ammonia levels, which arise primarily from
        residual mine explosives in the mine water, are also tracked to maintain
        nitrogen released from ammonia to less than 10 ppm. The wetlands provide
        a cushion against release of this nutrient into receiving waters.

        The treatment plant efficiency has been hampered at times, generally in
        the winter when warm process water is displaced by cold reclaim water in
        the CCD thickeners that precede the treatment plant. Musselwhite plans
        to introduce oxygen instead of air to the water treatment plant this
        winter to try to speed the reaction time and limit incremental SO2
        consumption. In AMEC's opinion this is a good approach to improve the
        reaction kinetics and maximize treatment capacity.

16.5    TAILINGS DISPOSAL

        The tailings pond has an ultimate design capacity of 13 Mt following one
        remaining dam raising program. At the end of 2002, the accumulated
        tailings volume was expected to reach 7.1 Mt, with another 11.9 Mt
        projected in the life-of-mine (LOM) plan. Several options have been
        studied to provide the additional storage space required


- --------------------------------------------------------------------------------

March 2003                          Page 16-3                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        while ensuring that all acid-generating tailings remain submerged under
        water. The main options are as follows:

        o       establish a second tailings deposition site and maintain an
                adequate water cover over all tailings at both sites. To permit
                this, the site selection process for the second site would have
                to be completed in 2003. Final raising of the dams for the
                existing pond would then occur in 2005, as currently planned.

        o       use the full tailings stream to produce a paste fill product and
                divert the volume in excess of the existing pond capacity back
                to the underground workings. This material would replace the
                cemented and uncemented rockfill currently being used in the
                mine.

        o       remove the sulphide-bearing portion of the tailings stream
                through flotation of the CIP rejects and dispose of the two
                tailings products separately. This approach has been the subject
                of laboratory testwork since 2001, but it has not yet been
                demonstrated how the non-acid-generating tailings would be
                affected.

        Testwork and study for the production of paste backfill from both the
        sulphide-bearing fraction of the tailings and the whole tailings stream
        continued in 2003. Various scenarios for paste deposition, tailings pond
        configuration, and product segregation are being investigated.
        Evaluation of the technical and financial implications associated with
        these schemes has not been completed, although production of paste fill,
        starting in 2004, has been integrated in the SBP, supplementing the
        mine's current cemented rockfill requirements.

        Based on its experience with past projects, AMEC notes that thorough
        study is required to assess potential problems associated with long-term
        stability of paste fill produced with reactive sulphide-bearing
        material. Oxidation has the potential to reduce the compressive strength
        of the fill over time, through a breakdown of the alkaline bonding
        cement.

16.6    GOLD RECOVERY

        For budgeting purposes, gold recovery is fixed at 95% in the SBP,
        including a set leach solution loss assay of 0.027 g/t Au. This compares
        to an average recovery of 95.8% in 2000, when the solution assay was
        much lower, at 0.009 g/t Au.

        Musselwhite expects the leach/CIP recovery to be linked to the feed
        grade by the following equation:

        Leach Recovery (%) = 95.56  -  (3.2 + 100*Leach tails (g/t Au))  {1}
                                       --------------------------------
                                            Head grade (g/t Au)


- --------------------------------------------------------------------------------

March 2003                          Page 16-4                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        From calculations based on the actual plant results in 2000, AMEC
        concludes that "head grade" in the above quotation is the leach circuit
        feed grade. For 2000, the formula predicts recoveries of 95.8% to 96.0%
        at a solution loss assay of 0.027 Au/t and of 96.0% to 96.3% with the
        actual solution loss assay of 0.009 g/t Au.

        The LOM plan also carries a fixed recovery of 95%. However, declining
        feed grade, as documented in the SBP, and the application of equation
        {1} may lead to slightly lower recovery expectations, in the range of
        0.1%, in the years after 2005.

        According to AMEC's geological assessment of the current mine Reserves,
        the metallurgical behaviour of the ore can be expected to remain much
        the same as in the past. This is despite the various ore sources to be
        used in the future, including eight zones representing one-third of the
        remaining Reserves, the remainder of the T-Antiform mineralization,
        which has provided almost all the mill feed to date, and the open pit
        mining scheduled to provide mill feed in 2009-2010.

16.7    ORE PROCESSING CAPITAL AND OPERATING COST ESTIMATES

        The monthly operating cost (OPEX) breakdown in the 2003 budget has been
        reviewed. No data were provided for projected operating costs over the
        LOM plan. Table 16-1 compares anticipated 2003 unit costs with those
        achieved in earlier years.

        TABLE 16-1: COMPARISON OF YEARLY PROCESSING OPERATING COSTS ($/T)

<TABLE>
<CAPTION>
<S>                                <C>               <C>                 <C>                 <C>
        -----------------------------------------------------------------------------------------------
                                     2000              2001                2002                2003
        AREA                        ACTUAL            ACTUAL              ACTUAL              BUDGET
        ===============================================================================================
        Tons milled                1,230,768         1,290,275           1,156,919           1,436,000
        Crushing                     1.97              2.50                2.07                2.03
        Grinding                     1.47              1.61                1.54                1.71
        Gravity                      0.07              0.08                0.05                0.05
        Leach/CIP                    1.51              1.69                1.59                1.55
        Refining                     0.42              0.33                0.36                0.34
        Tailings treatment           0.93              0.93                0.96                0.96
        Tailings disposal            0.04              0.10                0.13                0.09
        General services             2.30              2.52                3.32                3.23
        Assay laboratory             0.74              0.81                0.75                  -
        -----------------------------------------------------------------------------------------------
        TOTAL                        9.45              10.58               10.76               9.97
        -----------------------------------------------------------------------------------------------
</TABLE>

        The higher crushing cost in 2001 likely resulted from the structural
        work done to reduce vibration problems. From 2001 on, costs for the
        leach/CIP circuit include the use of oxygen in the first two leach
        tanks; this will enhance leach kinetics but at a higher cost than air.
        No specific reasons have been given to explain the higher general
        services costs after 2000.


- --------------------------------------------------------------------------------

March 2003                          Page 16-5                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        The 2003 budget illustrates the first full year of operation at the
        increased throughput capacity of 4,000 t/d. It should be noted that the
        projected costs for the gravity and refinery circuits may not fully
        reflect the impact of the Acacia reactor. While the gravity costs may
        properly account for the decrease in labour effort resulting from the
        removal of tabling activities, additional costs will be incurred for
        incremental cyanide consumption (and tailings treatment costs for
        additional contaminants introduced into solution). The net variation is
        likely to be fairly limited, however. Refining costs can be expected to
        decrease as a result of processing one type of less-contaminated EW
        sludge, rather than the current sludge product and a gravity concentrate
        as well.

        The use of oxygen instead of air in the water treatment plant, as tested
        this winter, may result in lower water treatment costs if efficiency is
        improved while treating colder water.

        The anticipated capital costs (CAPEX) related to processing items are
        listed in Table 16-2.

        TABLE 16-2: PROJECTED CAPITAL EXPENDITURES FOR PROCESSING ($000)

<TABLE>
<CAPTION>
        --------------------------------------------------------------------------------------------------
                                                                                              2008-2012
        ITEM                               2003       2004      2005      2006        2007    (PER YEAR)
<S>                                      <C>         <C>      <C>        <C>        <C>      <C>
        Ball chip magnet                    160         -         -         -           -          -
        Vacuum system - conveyors            35         -         -         -           -          -
        Repair/reline 3 CIP tanks           180        180        -         -           -          -
        Mill maintenance truck               45                   -         -           -          -
        Acacia system                        -         350        -         -           -          -
        Leach tails flotation circuit        -       1,500        -         -           -          -
        Tailings Stage 3 dam                 -          -       3,500       -           -          -
        Crusher screen replacement           -          -         200       -           -          -
        Mill operations truck                -          -          45       -           -          -
        Undefined expenditures               -          -         -        300         300        150
        --------------------------------------------------------------------------------------------------
</TABLE>

        The table shows that implementation of the Acacia system is budgeted for
        2004, but the work is proceeding this year instead. In addition, the
        table is missing the anticipated capital costs associated with the paste
        fill plant proper and includes in 2004 only the required flotation
        circuit to separate sulphide-bearing material. A budget should be
        developed for the entire project, including costs for anticipated
        revisions to the current environmental permits.

        AMEC also recommends that costs be budgeted to replace the crucible
        furnace with a larger unit, for the reasons stated before.

        A reclamation fund is being financed on a yearly basis and is not
        included in the CAPEX requirements per se. As such, no reclamation costs
        are budgeted in Table 16-2 for the last years of operation. AMEC did not
        review the adequacy of the funding set aside for this purpose.


- --------------------------------------------------------------------------------

March 2003                          Page 16-6                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        AMEC concludes that the plant operation currently meets industry
        standards and that the proposed improvements should provide a net
        benefit to overall metallurgy.






- --------------------------------------------------------------------------------

March 2003                          Page 16-7                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




17.0    MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES

        The 2002 Mineral Resource and Mineral Reserve was estimated by
        Musselwhite staff (Musselwhite, 2003) using a combination of in-house
        (Placer Dome's OP) and commercial (Vulcan) mine planning software. The
        estimate was completed under the supervision of Qualified Persons Andrew
        Cheatle, P.Geo. (Chief Geologist, Musselwhite) and Rob Usher, P.Eng.
        (Mining Manager, Musselwhite).

17.1    MINERAL RESOURCE AND RESERVE STATEMENT

        The estimated total Measured and Indicated Resource (including Mineral
        Reserves) as of 31 December 2002 is 16.971 Mt with a grade of 5.91 g/t
        Au. This Resource is reported above a cutoff grade of 3.00 g/t Au,
        reflecting a gold price of US$325/oz. An additional Resource of 3.517 Mt
        with a grade of 7.35 g/t Au (also reported at a cutoff grade of 3.00 g/t
        Au) has been classified as Inferred. Table 17-1 summarizes the Mineral
        Resource by classification category at two different cutoff grades and
        two gold prices, US$300/oz and US$325/oz. Approximately 68% of the total
        Measured and Indicated Resource is within the T-Antiform zone. The
        remaining 32% is divided among nine other zones on the property.
        Appendix D summarizes the Mineral Resource by zone and classification
        category.


        TABLE 17-1: SUMMARY OF MINERAL RESOURCE* BY CLASSIFICATION CATEGORY
        ------------------------------------------------------------------------
                       CUTOFF GRADE 3.25 G/T AU        CUTOFF GRADE 3.00 G/T AU
                      --------------------------      --------------------------
                        TONNAGE       AU GRADE         TONNAGE       AU GRADE
        CLASS            (000)          (G/T)           (000)          (G/T)
        ========================================================================
        Measured         10,814          6.27           11,466          6.09
        Indicated         5,036          5.78            5,505          5.55
        Subtotal M&I     15,850          6.11           16,971          5.91
        Inferred          3,301          7.63            3,517          7.35
        ------------------------------------------------------------------------
        *Note: Includes the Mineral Reserve.


        A portion of the total Measured and Indicated Resource has been
        converted to a Proven and Probable Mineral Reserve. The estimated total
        Proven and Probable Mineral Reserve as of 31 December 2002 is 11.914 Mt
        with a grade of 5.440 g/t Au. Table 17-2 summarizes the Mineral Reserve
        by classification category. Approximately 67% of the total Proven and
        Probable Mineral Reserve is within the T-Antiform zone. The remaining
        33% is divided among eight other zones. The Mineral Reserves are
        summarized by classification category and zone in Appendix D.


- --------------------------------------------------------------------------------

March 2003                          Page 17-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE


        TABLE 17-2: SUMMARY OF MINERAL RESERVE BY CLASSIFICATION CATEGORY
                    (US$300/OZ)
        ------------------------------------------------------------------------
                                        TONNAGE                      AU GRADE
        CLASS                            (000)                        (G/T)
        ========================================================================
        Proven                            8,764                        5.67
        Probable                          3,150                        4.81

        TOTAL                            11,914                        5.44
        ------------------------------------------------------------------------

17.2    MINERAL RESOURCE ESTIMATION METHODS

        The 2002 Resource estimate incorporates three significant changes from
        previous estimation efforts:

        o       A new block model was constructed for the north part of the S
                zone on the T-Antiform. The new grade blocks for this area were
                incorporated into the T-Antiform model.

        o       New Indicated and Inferred Resources were modelled in
                "Intraformational" domains and added to the north part of the
                T-Antiform model as thin units of mineralized BIF in the hanging
                wall of the S zone.

        o       An Inferred Resource was modelled for the PQ Deeps zone near the
                north end of the T-Antiform.

        None of the other blocks in the model were updated in 2002. The
        re-estimation of the S zone was prompted by a new interpretation of the
        geology. All of the other mineralized zones were last modelled in 2000.


17.2.1  GEOLOGICAL MODEL

        The new S zone estimate incorporates a better understanding of the
        importance of structural controls on the T-Antiform mineralization,
        based largely on observations from underground exposures. Juxtaposition
        and discontinuity of the stratigraphy is now thought to be due primarily
        to displacement along a series of near-vertical fault structures that
        intersect the axial plane of the T-Antiform at an acute angle (5 degrees
        to 10 degrees along strike). Previous interpretations placed greater
        emphasis on the role of complicated parasitic fold patterns in the
        discontinuity of the stratigraphy.

        A geological model was constructed by first plotting drill holes and the
        results of underground mapping on vertical cross-sections through the
        T-Antiform. Geological interpretations of the faults and stratigraphy
        were drawn by hand on paper, and the resulting lines and polygons were
        digitized into Vulcan. The geological interpretations were then
        re-plotted along with the drill hole and underground data, and a set of
        geologically constrained >1 g/t grade shells was interpreted and drawn
        by hand on the


- --------------------------------------------------------------------------------

March 2003                          Page 17-2                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        new plots. These mineralized zones were digitized into Vulcan, snapped
        to drill hole intersection points, and used as domain boundaries after
        solid triangulation. The S zone was divided into a total of 33
        lithological/structural domains, 16 of which are from the
        Intraformational BIF zones. The 33 domains can be organized into the
        following six geological groups

        o       S zone west - the well-mineralized BIF in the west limb of the
                T-Antiform

        o       S zone east - the well-mineralized BIF in the east limb of the
                T-Antiform

        o       4b - the poorly mineralized footwall BIF unit

        o       4f - the poorly mineralized hanging wall BIF unit

        o       Intraformational BIF - the narrow, sporadically mineralized BIF
                in the hanging wall mafic volcanic sequence

        o       Waste - dominantly mafic volcanics in the hanging wall that are
                modelled for dilution grades.

        The geological models for the other areas of the T-Antiform (WA, T, and
        C zones), and for the satellite deposits beyond the T-Antiform, were
        constructed in 2000 or earlier using methods similar to those employed
        for the S zone in 2002. Mineralized zones were constructed as
        geologically constrained grade shells that were interpreted on section
        and then digitized into geological modelling software.

17.2.2  COMPOSITING AND CAPPING

        In 2002, the S zone drill hole assays were composited to 1 m lengths
        within the mineralized zone wireframes. Residual composites less than
        0.2 m long at the lower end of the intersections were discarded. This
        approach differs from the one used for all previous modelling, where
        drill hole assays were composited to 1 m lengths from collar to toe.
        AMEC supports the current practice.

        Capping levels were set on a domain-by-domain basis, although domains
        were grouped where necessary to achieve a statistically relevant
        population size. Several statistical exercises were completed on the
        composites to evaluate appropriate capping levels. These tests included
        the following comparisions:

        o       the coefficient of variation (CV) with the capping value

        o       the percentage of contained metal with the capping value

        o       the correlation coefficients of adjacent indicators with the
                indicator threshold (cutoff).

        The capping levels selected from these exercises are summarized in Table
        17-3. Capping levels for the other zones were investigated in previous
        studies utilizing


- --------------------------------------------------------------------------------

March 2003                          Page 17-3                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        similar methodologies. AMEC believes that the cap grade levels are
        appropriate for this type of deposit.

        TABLE 17-3: 2002 CAPPING LEVELS
        ------------------------------------------------------------------------
        DOMAIN                                             CUT (G/T AU)
        ========================================================================
        South zone West limb                                    30
        South zone East limb                                    20
        4b                                                      20
        4f                                                      12
        Intraformational                                        30
        Waste (Dilution)                                         5
        ------------------------------------------------------------------------

17.2.3  STATISTICS AND GEOSTATISTICS

        With relatively low coefficients of variation and only moderately skewed
        distributions, the composite populations for the main zones of
        mineralization at Musselwhite can be described as being statistically
        well behaved--for a gold deposit. For example, the mean uncapped gold
        grade of the combined West limb domains of the S zone is 5.9 g/t Au and
        the coefficient of variation is 1.20. For the East limb domains, the
        mean uncapped gold grade is 3.72 g/t Au and the coefficient of variation
        is 1.07. Appendix E contains normal and log transformed histograms and
        cumulative distribution plots for the major domain groups modelled in
        2002; Table 17-4 summarizes the statistical properties of these groups.

        TABLE 17-4: SUMMARY OF STATISTICAL PROPERTIES OF ASSAY COMPOSITES
        ------------------------------------------------------------------------
                  SZ EAST  SZ WEST     4B     4F    IF EAST    IF WEST    WASTE
        ========================================================================
        Number      1,439    3,975     94     76        701        607    44,847
        Mean         3.72     5.90   6.00   6.98       3.88       6.06      0.77
        Std Dev      4.47     6.18   5.91   7.39       5.36       9.63      2.28
        CV           1.20     1.05   1.06   1.06       1.38       1.59      2.95
        Maximum     47.54    53.23  26.81  39.21      50.33      97.17     84.62
        Median       2.35     3.98   3.71  10.35       1.99       2.37      0.14
        Minimum      0.01     0.01   0.07   0.03       0.01       0.01      0.01
        ------------------------------------------------------------------------

        For the 2002 Resource estimate, Musselwhite completed an analysis of the
        spatial continuity of the composites after a coordinate transformation
        to "unfold" domains that were combined by rock type. For the S zone
        domains, correlograms oriented in the along-strike and down-dip
        directions were fitted with nested exponential functions to model the
        variography along those axes. Down-hole correlograms were used to model
        the across-strike range and to interpret the nugget effect and sills for
        all directions of


- --------------------------------------------------------------------------------

March 2003                          Page 17-4                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        the S zone domains. Insufficient data points were available in the other
        domains to model spatial continuity. The variogram model parameters are
        presented in Table 17-5. Appendix F contains variogram models for the
        down-hole, along-strike, and down-dip directions. The ranges were
        modelled as 140 m, 50 m, and 15 m for the along-strike, down-dip and
        across-strike directions, respectively. The nugget effect was modelled
        as 10% of the total variance. It is AMEC's opinion that the orientation
        and relative magnitude of the variogram ranges correlate well with the
        observed geology.

        TABLE 17-5: 2002 S ZONE VARIOGRAM MODEL PARAMETERS
        ------------------------------------------------------------------------
        VARIOGRAM PARAMETERS                                     S ZONE
        ========================================================================
        Nugget Effect, c0                                          0.10
        1st Structure, cc1                                         0.74
        2nd Structure, cc2                                         0.16
        Principal (azim,dip)                                        0,0
        Major Range, aa1                                             19
        Major Range, aa2                                            140
        Vertical (azim,dip)                                        0,90
        Minor Range, aa1 x hm1                                     5.70
        Minor Range, aa2 x hm2                                       50
        Cross Strike (azim,dip)                                    90,0
        Vertical Range, aa1 x vr1                                  2.63
        Vertical Range, aa2 x vr2                                    15
        ------------------------------------------------------------------------

17.2.4  INTERPOLATION METHODS

        Interpolation methodology has remained relatively consistent since
        start-up at Musselwhite because of continual input and guidance from
        Placer Dome's corporate Resource estimation group. All of the
        mineralization modelled on the property has been interpolated with
        ordinary kriging (OK) or inverse-distance (ID) weighting of capped
        composites, depending on the zone and domain. Domains with sufficiently
        large populations of composites for modelling spatial continuity have
        been estimated with OK interpolations; the rest have been estimated with
        ID methods. In the 2002 model, the S zone proper was kriged, while the
        4b, 4f, Intraformational, and PQ Deep domains were interpolated with ID
        to the second power. The waste material (estimated for dilution purposes
        only) was estimated with an ID to the 0.5 power interpolation.

        OK interpolations are generally carried out on a minimum of 4 and
        maximum of 14 composites, with anisotropic search radii equal to the
        range of the variogram for that domain. The ID interpolations generally
        incorporate anisotropic search ellipses that capture between 1 and 14
        composites, depending on the zone and domain. AMEC considers that the
        interpolation parameters are appropriate.


- --------------------------------------------------------------------------------

March 2003                          Page 17-5                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




17.3    MINERAL RESOURCE AND RESERVE VALIDATION

        In its model validation exercises, AMEC focused on the T-Antiform area
        because the majority of the Mineral Resource and Reserve is located
        there.

        AMEC used four methods to check the T-Antiform Mineral Resource and
        Reserve model:

        o       Block model grades and composite grades were reviewed on paper
                plots of cross-sections through the deposit.

        o       Mean cut composite gold grades were compared to the mean block
                grades on a series of cross-section and level-plan slices
                through the deposit.

        o       Global mean cut composite grades were compared to the global
                mean block grades.

        o       Musselwhite reconciliation data were reviewed on an annual and
                stope-by-stope basis.

        Drill hole sample gold grades and block model gold grades were reviewed
        on a series of vertical cross-sections through the T-Antiform deposits.
        Drill hole traces, underground excavations, and wireframe domain
        boundaries were also visible on the plots. No irregularities were noted
        between the distribution of block grades and sample grades, and there
        was generally good agreement between the two sets of values.
        Representative cross-sections showing block grades, sample grades, and
        wireframe outlines are provided in Appendix G.

        AMEC prepared three graphs comparing the mean cut composite grades with
        the mean block grades on a series of parallel, 10 m thick slices through
        the deposit (Figures 17-1 to 17-3).


- --------------------------------------------------------------------------------

March 2003                          Page 17-6                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 17-1:  GRADE BY EASTING VALIDATION PLOT













                                    [PICTURE]















- --------------------------------------------------------------------------------

March 2003                          Page 17-7                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 17-2:  GRADE BY NORTHING VALIDATION PLOT















                                   [PICTURE]



















- --------------------------------------------------------------------------------

March 2003                          Page 17-8                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




FIGURE 17-3:  GRADE BY LEVEL VALIDATION PLOT















                                    [PICTURE]















- --------------------------------------------------------------------------------

March 2003                          Page 17-9                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        The grade model validation graphs demonstrate that the trends of the
        mean block grades generally honour the trends of the mean cut composite
        grades when sliced in vertical cross-sections and level plans.
        Discrepancies between the block and composite grades are rare and are
        due to a low number of composite points within that slice (i.e., Section
        9780N on Figure 17-2).

        The global mean block grades are compared to the global mean composite
        grades on a domain-by-domain basis in Table 17-6. The data show that the
        difference between the mean block and capped composite grades varies
        between 0.5% and 7.7%, depending on the domain. AMEC considers these
        differences to be acceptable, and expects that they would drop further
        upon declustering of the composites.

<TABLE>
<CAPTION>
        TABLE 17-6: GLOBAL MEAN GRADE COMPARISON
        -------------------------------------------------------------------------------------------------------
                                                                                               % DIFFERENCE
        ZONE               TYPE      NUMBER       MEAN      CV      MAX    MEDIAN    MIN    CUT COMPS VS BLOCKS
        =======================================================================================================
<S>                        <C>       <C>         <C>       <C>     <C>      <C>     <C>        <C>
        S zone             Comps        1,439     3.72     1.20    47.54    2.35     0.01
        East limb          Cut          1,439     3.62     1.07    20.00    2.35     0.01
                           Blocks      19,408     3.86     0.56    17.50    3.38     0.36           6.2%
        S zone             Comps        3,975     5.90     1.05    53.23    3.98     0.01
        West limb          Cut          3,975     5.84     1.00    30.00    3.98     0.01
                           Blocks      71,852     5.87     0.48    23.07    5.33     0.15           0.5%
        4b                 Comps           94     5.60     1.05    26.81    3.71     0.07
                           Cut             94     5.41     0.98    20.00    3.71     0.07
                           Blocks       1,079     5.52     0.36    17.16    5.21     1.24           2.0%
        4f                 Comps           76     6.98     1.06    39.21    4.14     0.03
                           Cut             76     5.54     0.79    12.00    4.14     0.03
                           Blocks         783     5.82     0.27    11.19    5.81     0.67           4.8%
        IF                 Comps          701     3.88     1.38    50.33    1.99     0.01
        East limb          Cut            701     3.82     1.30    30.00    1.99     0.01
                           Blocks      10,247     4.12     0.66    28.52    3.63     0.03           7.3%
        IF                 Comps          607     6.06     1.59    97.17    2.37     0.01
        West limb          Cut            607     5.59     1.35    30.00    2.37     0.01
                           Blocks      18,692     5.19     0.85    29.79    4.02     0.04          -7.7%
        Waste              Comps       44,847     0.77     2.95    84.62    0.14     0.01
                           Cut         44,847     0.61     1.85     5.00    0.14     0.01
                           Blocks   1,329,809     0.58     0.74     4.08    0.47     0.01          -5.2%
        -------------------------------------------------------------------------------------------------------
</TABLE>

        The model was further validated by comparing it to known volumes from
        mill production data. This is discussed in detail in Section 18. The
        results indicate good agreement between modelled and realized tonnages
        and grades.

17.4    CLASSIFICATION

        Musselwhite employs a simple Resource classification scheme based on
        drill hole spacing. Mineralized areas defined by drill holes spaced less
        than 25 m apart are classified as Measured. Where drill hole spacing is
        between 25 m and 50 m, the


- --------------------------------------------------------------------------------

March 2003                          Page 17-10                       [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        Resource is classified as Indicated. Inferred Resources defined by drill
        holes spaced between 50 m and 100 m. One exception is the PQ Deeps area,
        where mineralization has been classified as Inferred despite the
        presence of only two drill hole intersections spaced 225 m apart. All of
        the mineralization classified as Measured, Indicated, or Inferred is
        also assessed to ensure that it is potentially mineable. Mineralization
        that does not meet minimum grade x width criteria, or is inaccessible,
        is excluded from the Resource.

17.5    RESERVE METHODOLOGY

        AMEC reviewed the general methodology the mine uses to convert Measured
        and Indicated Resources to Proven and Probable Reserves and found it to
        be similar to generally accepted industry practices. The 2002 Mineral
        Resource and Reserve statement was completed under the supervision of
        the Qualified Persons designated for the mine by Placer Dome. The
        Musselwhite mining department is planning to carry out a full mine
        Reserve audit in the fourth quarter of 2003.

        In general, Mineral Reserves are calculated using the following
        procedure:

        o       The Geology department creates a geological block model, a 3D
                Resource model, and a 3D lithological model using Vulcan
                software.

        o       The Engineering department creates a mining plan for the area of
                concern, also in Vulcan.

        o       Historic and/or budgeted operating costs for the mine are
                compiled.

        o       Historic dilution, mining recovery, and milling recovery values
                for the mine are compiled.

        o       Cutoff grades are calculated for the various mining areas, with
                input from Placer Dome's corporate office with regard to metal
                value and exchange rates.

        o       Measured and Indicated Resources are used to calculate the
                Reserve after applying varying dilution and recovery parameters
                in the model.

        o       Inferred Mineral Resources are not used in the calculation of
                Mineral Reserves.

17.5.1  KEY ASSUMPTIONS AND PARAMETERS

        The mine Reserve is calculated based on four mining methods that have
        been or will be utilized depending on the nature of the deposits. Most
        of the Reserves are hosted in the T-Antiform and esker areas of the mine
        and consist of wide mining blocks suitable for sublevel, longhole
        mechanized mining methods. In other underground areas, narrow-vein
        versions of this method are required in narrower ore zones, while
        room-and-pillar mining is appropriate for flat lying areas such as the
        West-Anticline. Open-pit methods are used to mine the surface
        expressions of the OP and Snoppy zones.


- --------------------------------------------------------------------------------

March 2003                          Page 17-11                       [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        Cutoff grades and mining parameters for each zone are shown in Table
        17-7 and the parameters used to calculate the cutoff grade in Table
        17-8.

        TABLE 17-7: CUTOFF GRADES AND MINING PARAMETERS BY ZONE
        ------------------------------------------------------------------------
        ZONE                 WIDTH (M)     MINING METHOD      CUTOFF GRADE (G/T)
        ========================================================================
        T-Antiform           5.0 - 20.0    Sublevel LH               3.25
        Esker                   9.0        Sublevel LH               3.25
        PQ                      2.5        NV Sublevel LH            4.00
        PG (interformational)   1.5        NV Sublevel LH            4.00
        West-Anticline          5.0        Room and Pillar           3.25
        West                    2.5        NV Sublevel LH            4.00
        Snoppy Pit              N/A        Open Pit                  2.00
        OP (remaining sill)    20.0        Sill Recovery LH          3.25
        ------------------------------------------------------------------------

        TABLE 17-8: CUTOFF GRADE PARAMETERS
        ------------------------------------------------------------------------
                                                                      TOTAL
                           GOLD PRICE   EXCHANGE     METALLURGICAL   OPERATING
        ZONE               (US$/OZ)   RATE (C$/US$)   RECOVERY (%)  COST (C$/T)
        ========================================================================
        T-Antiform*           300         1.50            95           45.14
        Esker*                300         1.50            95           43.18
        PQ                    300         1.50            95           53.15
        PG (interformational) 300         1.50            95           53.15
        West-Anticline**      350         1.33            95           51.43
        West                  300         1.50            95           53.15
        Snoppy Pit***         375         1.33            95           40.61
        OP (remaining sill)   300         1.50            95           43.18
        ------------------------------------------------------------------------

        NOTE: *Operating costs used for these Reserves reflect forecast
        improvements in the 2003 Strategic Business Plan (SBP) for the mine.
        **This information reflects work from the 1998 Feasibility Study, but
        currently represents a small proportion of the Reserve to be extracted
        at the end of the mine life. ***This information reflects work from the
        1997 Feasibility Study, but currently represents a small proportion of
        the Reserve to be extracted at the end of the mine life. Together, the
        West-Anticline and Snoppy Pit account for less than 1% of the Reserve
        ounces.

        Although the mine receives a small credit for silver, silver production
        is insignificant compared to gold, and so there is no requirement for a
        silver price parameter. All the same, the silver revenue is enough to
        cover the refining costs, as was observed in the 2003 mine budget.

        The Reserve is relatively insensitive to cutoff grade, due in part to
        the relatively well-defined contact observed underground; as such, the
        cutoffs shown in Table 17-7 above are appropriate for this operation.
        The mine department is currently studying the cutoff grade philosophy to
        determine what actually constrains the overall operation. On preliminary
        examination, it appears that mine production is the main constraint, at
        least in the short term. It may therefore be possible to use a lower
        cutoff grade to meet the mill capacity and thereby reduce the fixed and
        semi-variable components of the operating cost on a $/t basis. AMEC
        finds the overall approach to cutoff grade determination to be
        appropriate.


- --------------------------------------------------------------------------------

March 2003                          Page 17-12                       [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




17.5.2  FUTURE RESERVE CALCULATIONS

        Several factors could influence the calculation of future Reserves at
        the mine. These include the following:

        o       Gold Price - Gold prices are currently higher than the value
                used to establish the 2002 Reserves. This could be a net benefit
                in the short term.

        o       Mining Costs - At present, costs are projected to decrease
                slightly through planned improvements such as optimization of
                the new ore handling system and purchase of major replacement
                equipment. If the mine throughput does not fill the mill
                capacity, however, the fixed cost increase will negate
                production efficiencies.

        o       Resource Development - Development to move Inferred Resources to
                Proven and Probable categories will be critical to replace
                depleting Reserves. An aggressive program is planned for areas
                such as the PQ Deeps. Success here will be a net positive impact
                as the T-Antiform winds down.

        o       Cutoff Grade - If the current study finds that mine production
                is the main operating constraint, it may be possible to decrease
                cutoff grades. This would have a net positive effect by reducing
                fixed costs and perhaps leading to a Reserve increase.

        A set of longitudinal sections showing the Reserve was supplied by the
        mining department and is included in Appendix H.


- --------------------------------------------------------------------------------

March 2003                          Page 17-13                       [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




18.0    OTHER DATA AND INFORMATION

        RECONCILIATION

        Block model Mineral Resource and Reserve estimates at producing mines
        benefit from the opportunity to compare predicted grades and tonnages to
        realized grades and tonnages from known volumes. Commonly, the
        comparison is done on a monthly basis, but at Musselwhite monthly
        Reserve model depletion data have only been compiled since January 2003.
        Therefore, AMEC has reviewed comparisons between block model estimates
        and reconciled mill production data on an annual and stope-by-stope
        basis for 2001 and 2002; the results are shown on an annual basis in
        Table 18-1. A table of results on a stope-by-stope basis for 2002 is
        provided in Appendix I.

<TABLE>
<CAPTION>
<S>                                                                             <C>
TABLE 18-1: ANNUAL RECONCILIATION DATA FOR 2001 AND 2002
- -----------------------------------------------------------------------------------------------------------
                                                                                     % DIFFERENCE
                   RESERVE MODEL                REALIZED - MILL ADJUSTED           (REAL.-RES.)/RES.
          --------------------------------  --------------------------------- -----------------------------
                       GRADE        AU                    GRADE       AU       TONNES      GRADE     METAL
YEAR        TONNES    (G/T AU)     (G)         TONNES    (G/T AU)     (G)        (%)        (%)      (%)
===========================================================================================================
2002       1,342,611    6.11    8,203,353    1,157,066     5.91    6,838,260    -13.8      -3.3     -16.6
2001       1,316,218    6.13    8,068,416    1,290,266     5.91    7,625,472     -2.0      -3.6      -5.5
TOTAL      2,658,829    6.12   16,271,770    2,447,332     5.91   14,463,732     -8.0      -3.4     -11.1
- -----------------------------------------------------------------------------------------------------------
</TABLE>

        The 2002 results include depletions from the Mineral Reserve that were
        not actually milled due to ground control and access issues. If this
        material is excluded from the comparison, the difference in tonnage
        between the Reserve model and realized value decreases to -4%, and the
        difference in grade between the Reserve model and realized figure
        decreases to -3%, for a total metal loss of -7% in 2002. It is AMEC's
        opinion that the 2002 losses from the Reserve model are isolated
        occurrences and should be less significant in the future. With the
        exception of the ground control losses, the 2002 results are consistent
        with those from 2001 and indicate that the Reserve model has achieved an
        acceptable level of predictability that supports the Proven and Probable
        Reserve designation.


- --------------------------------------------------------------------------------

March 2003                          Page 18-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




19.0    REQUIREMENTS FOR TECHNICAL REPORTS ON PRODUCTION PROPERTIES

        The Musselwhite Mine has been in commercial production since 1997. Most
        of the ore production has and will continue to come from underground
        sources, with some production from open pits at the beginning and end of
        the mine life. The mine currently plans to produce approximately 232,000
        ounces of gold per year.

        The rated treatment capacity of the mill plant is 4,000 t/d. It is
        expected that this level will be achieved on a sustainable basis as the
        capital updates completed in 2002 are optimized. In the short term, it
        appears that the mine will be challenged to supply ore at this rate
        until planned capital equipment replacements and operational
        improvements are completed in the latter half of this year.

19.1    MINE INFRASTRUCTURE

        Access to the underground operation is through a twin decline system.
        The main decline is the primary method of access for personnel and
        materials and has been driven at 12.5% grade, accessing levels on
        nominal 25 m intervals. Secondary egress and alternative emergency
        access is provided by the conveyor ramp, driven at 20% grade. The
        primary function of the conveyor ramp is to provide an ore delivery
        system from the 460 level underground crusher to the mill plant ore
        storage on surface.

        Ventilation is provided to the underground by twin Howden Model AF-42-13
        variable-speed and -pitch 375 kW fans on surface. The fans can deliver
        between 300 and 425 m3/s, depending on the speed, pitch, and ambient
        temperature of the intake air. Air is introduced through a fresh air
        raise and crosses over to the conveyor ramp at the 240 level, where most
        of the fresh air goes down and a nominal amount goes up. Exhaust air
        leaves the mine through the main ramp, and the top portion of the
        conveyor ramp, and the old exploration shaft. In winter, the mine air is
        heated to +2(degree)C with a propane system.

        This ventilation system creates fog at the portal, but to prevent
        accidents, reduced speeds, a light system, and radio alerts upon entry
        and exit are strictly enforced. Although the design appears to be
        problematic, it was found that for practical purposes and to achieve the
        desired volumes at depth, the air had to travel down the conveyor ramp.
        Dust is minimized with water sprays, and PLC controls constantly monitor
        the conveyor operation to ensure that ventilation would be reversed and
        the conveyor ramp completely exhausted in case of a conveyor fire.

        Power is supplied from Ontario Hydro via dedicated line from Pickle
        Lake. Diesel-powered generators provide backup power capacity on site.
        All supplies are either flown or trucked in from Thunder Bay.


- --------------------------------------------------------------------------------

March 2003                          Page 19-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        Mine water is handled by two underground pumping facilities on the 220
        and 500 levels. The system on 220 uses a collection cone/raise and pumps
        dirty water from the mine. The 500 level system utilizes three large
        sump excavations, the first two designated as dirty water for settling,
        and the final one connected by a horizontal borehole for clean water
        overflow. The lower system is designed to pump clean water to surface
        through multi-stage pumps, but is currently staged through the 200 level
        system until an ongoing capacity and optimization study is finished.

19.2    MINING METHODS

        The mining method predominantly in use at Musselwhite is sublevel
        blasthole stoping with backfill. This could be described as a modified
        Avoca method, where the stope mining face retreats away from rock fill
        being dumped and advancing from the other side of the stope.

        The mine sublevel interval is nominally 25 m, and there are usually four
        ore zones on each level, named the S2, S, C, and WA from east to west.
        This sublevel spacing provides a vertical ore block of approximately 20
        m.

        The typical mining cycle is as follows:

        o       DEVELOPMENT - The ore horizons are accessed from the main
                decline (in the footwall to the east of the ore) via a 5 m wide
                x 5.5 m high cross-cut. Ore lenses are silled out (5 m wide x 5
                m high) to their full extents to the north and south.
                Development ore is hauled to the underground crusher, while
                development waste is typically dumped into open stopes.

        o       PRODUCTION DRILLING - The ore lenses are drilled off with either
                3" or 4" diameter production holes, typically using a drop raise
                to create void space as necessary.

        o       PRODUCTION BLASTING - Blasting begins in the westernmost ore
                lens at the north and south ends, and progresses north, south,
                and east toward the main level access.

        o       STOPING - The typical stope is a longitudinal retreat along
                strike, but primary/secondary sequences and tranverse stoping
                have also been used in wider areas. Bulk and packaged emulsion
                explosive products are used for blasting.

        o       PRODUCTION MUCKING - Mucking is done by a fleet of diesel LHDs
                (8, 9, and 11 yd3) and 40 tonne capacity haulage trucks. Ore
                from the 200 level and above is hauled directly to surface. Ore
                from below this horizon is hauled to the 400 level grizzly/rock
                breaker, which discharges into a coarse ore bin, which in turn
                feeds the underground jaw crusher. The crusher then delivers
                crushed product onto the conveyor system for transport to
                surface as mill feed.


- --------------------------------------------------------------------------------

March 2003                          Page 19-2                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        o       BACKFILLING - Completed stopes are backfilled with a combination
                of uncemented rockfill (URF) and/or cemented rockfill (CRF). URF
                is produced in waste development headings and from a seasonal
                crushing/screening plant on surface. Surface waste is delivered
                to underground through a backfill raise that extends from
                surface to the 200 level. A cement batch plant on surface
                produces a cement/fly ash slurry, which is fed to the
                underground through boreholes. The cement slurry is sprayed onto
                loads of URF before subsequent placement as CRF in the required
                stopes. The mine has recently been testing the use of a
                Rammer-Jammer to pack rockfill barricades. This might reduce
                cement costs and aid in placing fill in areas that are hard to
                access conventionally. Paste backfill is currently being studied
                for future use.

        The mining methods in use are appropriate for the orebody.

19.3    MOBILE EQUIPMENT

        The current mining fleet is essentially the original mine equipment in
        approximately its sixth year of use, generally considered the limit of
        underground equipment life. The mine capital budget includes significant
        equipment replacements, which should help reduce costs and improve
        productivity. Commissioning of the new conveyor system in 2002 has
        reduced the long haul to surface for most of the mine as it moves deeper
        and farther under the lake. However, the truck fleet will have to be
        maintained at approximately current levels to allow for longer backfill
        hauls in addition to ore haulage to the 400 level. This could change,
        depending on the outcome of an ongoing paste backfill study.

        The mine is also re-examining its production drilling requirements.
        There is a plan to make less use of the older Tamrock Solo drills and
        perhaps replace them with Boart drills. Boart contractors are in
        currently working in the mine to test the productive capacity of their
        drills; these drills will be used for the majority of production
        drilling this year.

        The major mobile equipment in the mine is shown in Table 19-1. As
        indicated previously this fleet may evolve or be replaced with similar
        equipment over the course of the next few years.

        The proposed capital replacement program is supported by AMEC's review.


- --------------------------------------------------------------------------------

March 2003                          Page 19-3                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        TABLE 19-1: MOBILE EQUIPMENT LIST
        ------------------------------------------------------------------------
        TYPE OF EQUIPMENT        MAKE/MODEL                   NUMBER OF UNITS
        ========================================================================
        DRILLING EQUIPMENT
        Production drills        Tamrock Solo 1000 Sixty             2
        Development drills       Tamrock Minimatic H205D             3
        Bolters                  Tamrock Robolt H320-30C             3
        Miscellaneous drills     MacLean Blockholer                  1
                                 Boart BCI-2                         1

        PRODUCTION SCOOPS
        3 yd3                    Tamrock EJC-130                     1
        8 yd3                    Tamrock Toro T500D                  3
        9 yd3                    Tamrock Toro T650D                  5
        11 yd3                   Tamrock Toro 0011                   1

        PRODUCTION TRUCKS
        30 tonne                 Tamrock EJC 430                     1
        40 tonne                 Tamrock Toro 40D                    9

        ANCILLARY EQUIPMENT
        Explosives loader        Tamrock ALB45                       2
        Scissor lift             Teledyne SL6-812                    3
        Boom truck               Teledyne                            1
        Grader                   Caterpillar M-120                   1
        Personnel vehicle        Toyota Landcruiser                 17
        Bulk explosives truck    ICI U-101-1                         1
        ------------------------------------------------------------------------

19.4    MINE PRODUCTION

        The 2003 budget and Strategic Business Plan (SBP) call for the mine to
        achieve and sustain a production rate of 4,000 t/d for the mine life.
        The operation is currently working its way through a list of projects to
        optimize throughput capacity. The mill is slightly ahead of the mine in
        achieving this goal, but once the projects are completed, the mine will
        likely be the determining factor in achieving the throughput goal.

        The budget and SBP are considered to be confidential documents and are
        only briefly summarized in this report. An abridged life-of-mine
        production plan based on these documents is shown in Table 9-2. AMEC has
        reviewed both documents and finds them to meet industry standards.


- --------------------------------------------------------------------------------

March 2003                          Page 19-4                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




TABLE 19-2: LOM PRODUCTION PLAN

<TABLE>
<CAPTION>
<S>                        <C>         <C>         <C>         <C>         <C>         <C>         <C>         <C>         <C>
                                                       YEAR AND OPERATING DAYS
- ------------------------------------------------------------------------------------------------------------------------------------
                             2003         2004       2005        2006        2007        2008        2009        2010        2011
                          ----------------------------------------------------------------------------------------------------------
TREATMENT PLANT UNIT         (365)       (366)       (365)       (365)       (365)       (366)       (365)       (365)       (365)
====================================================================================================================================
Treatment rate     t/d         3,934       4,000       4,000       4,000       4,000       4,000       4,000       4,000       4,000
Mill capacity      t/a     1,436,000   1,464,000   1,460,000   1,460,000   1,460,000   1,464,000   1,460,000   1,460,000   1,460,000
Total treated      t/a     1,436,000   1,464,000   1,460,000   1,460,000   1,460,000   1,464,000   1,460,000   1,460,000     167,649
Mill head grade    g/t Au       5.38        5.49        5.52        5.39        5.21        5.15        5.11        4.92        5.43
Mill recovery      %           95.20       95.00       95.00       95.00       95.00       95.00       95.00       95.00       95.00
Gold recovered     oz        236,454     245,596     246,317     240,388     232,427     230,096     227,900     219,404      27,809
====================================================================================================================================
</TABLE>


- --------------------------------------------------------------------------------

March 2003                          Page 19-5                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




19.5    PROCESSING AND RECOVERABILITY

        The processing operation is discussed in detail in Section 16. The mill
        is a typical CIP/CIL operation that produces separate dore bars for each
        of the gravity and leach circuit products. Recovery has historically
        been approximately 95% and is expected to remain at this level.

        The share of production attributed to each joint venture partner for the
        2003 budget and the life of mine, based on the December 2002 Reserve, is
        summarized in Table 19-3.

        TABLE 19-3: DISTRIBUTION OF GOLD PRODUCTION
        ------------------------------------------------------------------------
                                        2003 BUDGET FORECAST     LOM FORECAST
        JV PARTNER         OWNERSHIP %          (OZ)           2003 TO 2011 (OZ)
        ========================================================================
        Placer Dome        68.07              160,954             1,347,421
        Kinross            31.93               75,500               632,043
        TOTAL              100.00             236,454             1,979,464
        ========================================================================

19.6    MARKETS AND CONTRACTS

        Gold is a globally traded metal with prices set daily on the London
        Metal Exchange (LME) and in New York for dealer purposes. It is traded
        on various exchanges 24 hours a day during the business week. Gold is
        used in various forms for jewelry, electronics, and as an investment
        vehicle.

        The dore bars produced at the mine are shipped under contract to Johnson
        Matthey for refining.

19.7    ENVIRONMENTAL CONSIDERATIONS

        The Musselwhite Mine operates under Placer Dome's sustainability policy,
        which commits the operation to a high standard of environmental
        stewardship. Sustainability is an important issue for every department.
        This involves protecting human health, reducing the impact of mining on
        the ecosystem, and returning the site to a state compatible with a
        healthy environment. Musselwhite has implemented a series of management
        systems for maintenance, environmental activities and occupational
        health and safety. Currently, operations at Musselwhite appear to be in
        compliance with applicable corporate standards and environmental
        regulations.

        The closure plan involves progressive rehabilitation through an ongoing
        program of grass seeding. Planning is also underway to conduct annual
        satellite Ikonos imagery of


- --------------------------------------------------------------------------------

March 2003                          Page 19-6                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




        the property to characterize the condition of the vegetation to indicate
        the presence or lack of stress factors. This information will be a
        useful start in compiling a chronological record of reclamation for use
        in the closure plan to be presented to stakeholders at the end of the
        mine life.

        Musselwhite is currently looking at various options for its tailings
        management practices to mitigate the risks associated with tailings and
        waste rock. One option is a paste backfill/tailings disposal system;
        another is to produce a sulphide flotation product that would reduce the
        amount of potential acid generating material. The potential for acid
        rock drainage from the tailings is taken into account in the closure
        plan. Stockpiled open-pit waste rock has low potential for acid drainage
        and will be transported underground for use as rockfill.

        At present, all tailings pass through a water treatment plant for
        destruction of cyanide before discharge to the tailings pond. Additional
        remediation occurs naturally in the tailings pond, polishing ponds, and
        wetlands.

        Local First Nations communities monitor environmental issues through an
        environmental working committee. First Nations issues are listened to,
        documented, and addressed in this forum, and mine closure plans are
        periodically reviewed and analyzed.

19.8    TAXES

        The Musselwhite Mine operates in Ontario, Canada, as a joint-venture. As
        such, the mine does not pay income taxes directly, but both Kinross and
        Placer must pay taxes on a corporate level based on their prorated
        shares of revenue.

        In Ontario, profits are taxed at the federal and provincial levels.
        Federal taxes are levied on each partner's share of the mine operations
        taxable income, which is net of direct operating expenses, appropriate
        share of depreciation of capital and Resource allowances, and deductions
        for exploration and pre-production development. The net federal tax rate
        is currently 29.12%. Ontario uses the federal taxable income, with some
        minor adjustments to deductions and allowances, and taxes this at rate
        of 11%. In addition, Ontario levies a small capital tax on the paid-up
        capital of the mine above $5 million. Ontario also levies a mining tax
        after deductions, including processing allowances, at a 2002 rate of
        about 14%; this is scheduled to reduce to 10% by 2004.


- --------------------------------------------------------------------------------

March 2003                          Page 197                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE


19.9    CAPITAL AND OPERATING COSTS

19.9.1  CAPITAL COSTS

        The Musselwhite Mine is an ongoing operation, and capital expenditures
        are largely associated with system improvements and replacing aging
        equipment.

        The 2003 budget includes capital expenditures in the range of $15.2 M to
        cover mobile equipment replacement in the mine, mine development, mill
        projects, and minor site expenditures. Although the budget allows
        approximately $1.1 M for the first phase of a pastefill plant study and
        engineering, the SBP does not appear to explicitly budget for the
        remaining plant construction capital. A pastefill plant could cost in
        the range of $10 M depending on specifications and capacities.

        The issue of partial use of paste for backfill is currently under study.
        When a decision is made, a detailed budget should be developed for the
        plant and incorporated in the next SBP. Otherwise, the plan must reflect
        earlier-than-scheduled work to raise the existing tailings dam and costs
        for alternate storage to accommodate the anticipated tailings production
        for the rest of the mine life.

19.9.2  OPERATING COSTS

        The mine operating cost budget for each year is compiled in detail from
        first principles for each department, then aggregated for the budget
        summary. The long-term projections in the SBP are based on historical
        costs, projected improvements, and information from feasibility studies
        in areas that are not fully developed in the mine plan. In general the
        estimates have been done to industry-acceptable standards and appear to
        be reasonable. Some of the projected costs are based on yet-to-be
        implemented improvements and a successful increase in mine capacity to
        4,000 t/d. While progress is being made, the mine has yet to achieve
        this threshold. As such, unit costs per tonne could increase slightly
        from those indicated, with possible minor impacts on cutoff grade
        calculations. Actual and budgeted unit operating costs from 1998 to 2003
        are summarized in Table 19-4.

        TABLE 19-4: AVERAGE UNIT OPERATING COSTS - 1998 TO 2003 ($/T)
        ------------------------------------------------------------------------
                  1998       1999       2000        2001       2002       2003
                 ACTUAL     ACTUAL     ACTUAL      ACTUAL     ACTUAL     BUDGET
        ========================================================================
        Mine      18.74      20.78      23.54       24.02      31.15      23.06
        Mill       9.76       9.54       9.45       10.58      10.74       9.97
        Plant      0.36       3.59       3.80        4.41       4.23       2.10
        Admin     11.89      11.07      11.20       13.67      19.04      13.95

        TOTAL     40.75      44.98      47.99       52.68      65.16      49.08
        ------------------------------------------------------------------------


- --------------------------------------------------------------------------------

March 2003                          Page 19-8                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




19.10   ECONOMIC ANALYSIS

        The SBP financial model has been reviewed and is considered to
        accurately reflect the current state of the operation. The model is not
        a public document and is not included in this report. Overall, the
        operation shows a positive cash flow and therefore supports the
        classification of a Mineral Reserve.

19.11   MINE LIFE

        The Proven and Probable Reserves as of 31 December 2002 contain
        approximately 2.1 M oz of gold in 11.9 Mt, resulting in a projected mine
        life of 9 years at a mining rate of 4,000 t/d.


- --------------------------------------------------------------------------------

March 2003                          Page 19-9                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




20.0    INTERPRETATIONS AND CONCLUSIONS

        AMEC reviewed pertinent data from the Musselwhite Mine to obtain a
        sufficient level of understanding to assess the existing Mineral
        Resource and Mineral Reserve statement. AMEC's general conclusions from
        this review are as follows:

        o       The geology of the Musselwhite Mine is well understood and sound
                geological interpretations have been applied to the Mineral
                Resource and Reserve estimate.

        o       The database that forms the basis for the Mineral Resource and
                Reserve estimate consists of over 260,000 assays from 3,261
                drill holes. AMEC's validation exercises found no errors in the
                data. The database is further supported by a QA/QC program
                involving standard reference materials, blanks, and duplicate
                samples.

        o       Geologically constrained grade block models have been used to
                estimate the Mineral Resource and Reserve. The methods used are
                accepted practices. AMEC has performed several validation
                exercises, including a review of reconciliation results, on the
                T-Antiform models and found that they provide reasonably
                accurate predictions of mined tonnage and grade.

        o       The cutoff grade strategy is reasonable and is generally similar
                to industry standard practices.

        o       Ongoing development programs are being carried out to identify
                potential improvements to mill throughput, availability, and
                operating costs. The addition of the Acacia reactor to the
                gravity circuit is expected to increase recovery by 0.2% or
                more.

        o       AMEC has found the operating cost estimates to be reasonable
                based on assumptions regarding equipment replacement and
                completion of the capital optimization program. In the
                short-term, it appears that supplying 4,000 tpd of ore to the
                mill will be a challenge until planned capital equipment
                replacements and operational improvements are completed in the
                latter half of this year. A concerted effort should also be made
                to exploit additional mining areas as quickly as possible to
                reduce production risk.

        o       If the results of the paste study indicate that paste backfill
                is economically sensible and viable on a total property basis,
                the current mining method will need to be revised. This may have
                cost and scheduling impacts that will have to be considered in
                future Mineral Reserve calculations.

        o       The basic assumptions used in the economic forecasts are
                acceptable and within reasonable market parameters.

        This independent review by AMEC supports the 2002 Musselwhite Mineral
        Resource and Reserve statement.


- --------------------------------------------------------------------------------

March 2003                          Page 20-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




21.0    REFERENCES

        Andrews, A.J., Sharpe, D.R., and Janffi, D.A., 1981: A PRELIMINARY
                RECONNAISSANCE OF THE WEAGAMOW-NORTH CARIBOU LAKE
                METAVOLCANIC-METASEDIMENTARY BELT, INCLUDING THE OPAPIMISKAN
                LAKE (MUSSELWHITE) GOLD OCCURRENCE, IN SUMMARY OF FIELD WORK,
                1981, by the Ontario Geological Survey, Edited by John Wood,
                O.L. White, R.B. Barlow, and A.C. Colvine, Ontario Geological
                Survey, Miscellaneous Paper 100, 255p.

        Archer, R.A., May 1994 report on the 1994 COMPILATION OF THE MUSSELWHITE
                PROPERTY NAND S 533/9 PATRICIA MINING DISTRICT, Northwestern
                Ontario. PDC Files. Musselwhite Project.

        Breaks, F.W., Bartlett, J.R., Dekemp, E.A., Finamore, P.R., Jo~, G.R.,
                Macdonald, A.J., Shields, H.N. and Wallace, H., 1984:
                OPAPIMISKAN LAKE PROJECT: PRECAMBRIAN GEOLOGY, QUATERNARY
                GEOLOGY, AND MINERAL DEPOSITS OF THE NORTH CARIBOU LAKE AREA,
                District of Kenora, Patricia Portion, p. 258-273, in Summary of
                Field Work, 1984, Ontario Geological Survey, edited by John
                Wood, Owen L. White, R.B. Barlow, and A.C. Colvine, Ontario
                Geological Survey, miscellaneous Paper 199, 309p.

        Breaks, F.W., Bartlett, I.R., Osmani, I.A., Finamore, P.F., and Wallace,
                H., 1985: OPAPIMISKAN LAKE PROJECT: PRECAMBRIAN AND QUATERNARY
                GEOLOGY OF THE NORTH CARIBOU LAKE AREA, District of Kenora,
                patricia Portion, p. 268-276, in Summary of Field Work and Other
                activities, 1985, Ontario Geological Survey, edited by John
                Wood, Owen L. White, R.B. Barlow, and A.C. Colvine, Ontario
                Geological Survey, Miscellaneous paper 126, 351p.

        Breaks, F.W., Osmani, I.A., and Dekemp, E.A., 1986: OPAPIMISKAN LAKE
                PROJECT: PRECAMBRIAN GEOLOGY OF THE OPAPIMISKAN-FORESTER LAKES
                AREA, District of Kenora, Patricia Portion, p.368-378, in
                Summary of Field Work and Other Activities, 1986, Ontario
                Geological Survey, edited by P.C. Thurston, Owen L. White, R.B.
                Barlow, M.E. Cherry and A.C. Colvine, Ontario Geological Survey,
                Miscellaneous Paper 132, 435p. Accompanied by 1 Chart.

        Emslie, R.F., 1962; Wunnimmun Lake (NTS 53A), Ontario; GEOLOGICAL SURVEY
                OF CANADA, Map 1-1962, scale 1:253,440 or 1 inch to 4 miles.
                Geology 1962.

        Hall, R.S. and Rigg, D.M., 1986: GEOLOGY OF THE WEST ANTICLINE ZONE,
                Musselwhite prospect, Opapimiskan Lake, Ontario, Canada, in
                MacDonald, A.J. ed., Proceedings of Gold '86, and International
                i ' Symposium on the Geology of Gold: Toronto, 1986, pp.124-136.

        McMillan, R.H., 1996. IRON FORMATION-HOSTED AU, in Selected British
                Columbia Mineral Deposit Profiles, Volume 2 - Metallic Deposits,
                Lefebure, D.V. and Hoy, T, Editors,


- --------------------------------------------------------------------------------

March 2003                          Page 21-1                        [LOGO] amec

<PAGE>

KINROSS                 Technical Report
Gold Corporation        MUSSELWHITE MINE




                British Columbia Ministry of Employment and Investment, Open
                File 1996-13, pages 63-66.

        Musselwhite, 2003. MUSSELWHITE MINE 2002 MINERAL RESOURCE/ORE RESERVE
                STATEMENT. Internal Company Document, compiled January 2003.

        Ontario Geological Survey, 1985: AIRBORNE ELECTROMAGNETIC AND TOTAL
                INTENSITY MAGNETIC SURVEY, OPAPIMISKAN LAKE ~ Area District of
                Kenora, Patricia Portion, for the Ontario Geological Survey.
                Published 1 :20,000 scale maps 80716 - 80753

        Owens, D., Et Al Canmet report 1994: MINERALOGICAL CHARACTERIZATION OF
                GOLD ORE, Musselwhite Project for Placer Dome Canada Limited.
                PDC Files. Musselwhite Project.

        Piroshco, D. and Shields, H.N., 1985: GEOLOGY AND GOLD MINERALIZATION OF
                THE EYAPAMIKAMA LAKE AREA OF THE NORTH CARIBOU LAKE GREENSTONE
                BELT, District of Kenora (patricia Portion), p. 277-286 in
                Summary, of Field Work and Other Activities, 1985, Ontario
                Geological Survey, edited by John Wood; Owen L. White, R.B.
                Barlow, and A.C. Colvine, Ontario Geological Survey,
                Miscellaneous i: paper 126, 351p.

        Satterly, J. 1941: GEOLOGY OF THE WINDIGO-NORTH CARIBOU LAKES AREA;
                ONTARIO DEPARTMENT OF MINES, Annual Report Vol. 48, Part 9, p32.
                Accompanied by Map 48h, Scale 1:63,360 or 1" to 1 mile; and Map
                48j, Scale 1: 126,720 or 1 inch to 2 miles.

        Stewart, R.W., Beckett, M.F., Gertzbein, P.M., Deutsch, C.V., and
                Meleske, J.J., 1989: MUSSELWHITE JOINT VENTURE (1973)
                FEASIBILITY STUDY, Volume One - Geology: Placer Dome Inc.
                company report.

        Thurston, P.C., Sage, R.P., and Siragusa, G.M., 1975: OPERATION WINISK
                LAKE, District of Kenora (Patricia Portion); Division of Mines
                OFR5119, 297p., 11 Figures, 18 tables, 53 photos (xerox copies).

        Thurston, P.C., Sage, R.P., and Siragusa, G.M., 1979: GEOLOGY OF THE
                WINISK LAKE AREA, DISTRICT OF KENORA, patricia Portion; Ontario,
                Geological Survey, Report 193, 169p. (With appendix by R.A.
                Riley). Accompanied by II Maps 2287 and 2292, scale 1:253,440 or
                1 inch to 4 miles and coloured charts A and B.


- --------------------------------------------------------------------------------

March 2003                          Page 21-2                        [LOGO] amec

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tex99_2-2983b.txt
<DESCRIPTION>EX-99.2
<TEXT>
<PAGE>


                               CONSENT OF EXPERTS



We hereby consent to the filing of that certain Musselwhite Technical Report
dated April 4, 2003, including the identification of us as experts, under cover
of Form 6-K with the Securities and Exchange Commission and the incorporation by
reference of that report and information into Kinross Gold Corporation's
registration statements on Form S-8, Registration Nos. 333-05776, 033-93926,
033-82450, 333-08936, 333-09004, 333-12662, 333-13744, and 333-13742.


AMEX E&C Services Limited

By:   /s/John Kiernan/
Title:   Senior Mining Engineer
         Wardrop Mining & Metals






Date:    June 30, 2004


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
