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<SEC-DOCUMENT>0001047469-08-006610.txt : 20080514
<SEC-HEADER>0001047469-08-006610.hdr.sgml : 20080514
<ACCEPTANCE-DATETIME>20080514171239
ACCESSION NUMBER:		0001047469-08-006610
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20080514
FILED AS OF DATE:		20080514
DATE AS OF CHANGE:		20080514

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:		08832761

	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>a2185795z6-k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<hr noshade width=100% align=left size=1> </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=5><B>SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>Washington, DC 20549  </B></FONT></P>

<BR>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=5><B>FORM 6-K  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>REPORT OF FOREIGN PRIVATE ISSUER  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B> PURSUANT TO RULE 13a-16&nbsp;OR 15d-16<BR>
UNDER THE SECURITIES EXCHANGE ACT OF&nbsp;1934</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>For
the month of May, 2008 </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Commission
File Number: 001-13382 </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=5><B>KINROSS GOLD CORPORATION<BR>  </B></FONT><FONT SIZE=2>(Translation of registrant's name into English) </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>52nd Floor, Scotia Plaza, 40&nbsp;King Street West<BR>
Toronto, Ontario M5H&nbsp;3Y2<BR>  </B></FONT><FONT SIZE=2>(Address of principal executive offices) </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>Indicate
by check mark whether the registrant files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40F: </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Form&nbsp;20-F&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F_X&nbsp;&nbsp;<FONT
FACE="WINGDINGS">&#253;</FONT> </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>Indicate by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation&nbsp;S-T
Rule&nbsp;101(b)(1):&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>Note:</B></FONT><FONT SIZE=2> Regulation&nbsp;S-T Rule&nbsp;101(b)(1) only permits the submission in paper of a Form&nbsp;6-K if submitted solely
to provide an attached annual report to security holders. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>Indicate
by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation&nbsp;S-T
Rule&nbsp;101(b)(7):&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>Note:</B></FONT><FONT SIZE=2> Regulation&nbsp;S-T Rule&nbsp;101(b)(7) only permits the submission in paper of a Form&nbsp;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&nbsp;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&nbsp;6-K submission or other Commission filing on EDGAR. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>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&nbsp;12g3-2(b) under the Securities Exchange Act of&nbsp;1934. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Yes&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#253;</FONT>
</FONT></P>

<P style="font-family:times;"><FONT SIZE=2>If "Yes" is marked, indicate below the file number assigned to the registrant in connection with
Rule&nbsp;12g3-2b:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>This
Current Report on Form&nbsp;6-K, dated May&nbsp;12, 2008, is specifically incorporated by reference into Kinross Gold Corporation's Registration Statement on Form&nbsp;S-8 (Registration
No.&nbsp;333-141896), filed on May&nbsp;14,&nbsp;2008. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><hr
noshade width=100% align=left size=1>
<hr noshade width=100% align=left size=4> </FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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Page&nbsp;2 </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>This
report on Form&nbsp;6-K is being furnished for the sole purpose of providing a copy of the unaudited interim financial statements for the period ended March&nbsp;31,&nbsp;2008. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="bg71302_index"> </A>
<A NAME="toc_bg71302_1"> </A>
<BR></FONT><FONT SIZE=2><B>INDEX    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="bg71302_table_of_contents"> </A>
<A NAME="toc_bg71302_2"> </A>
<BR></FONT><FONT SIZE=2><B>Table of Contents    <BR>    </B></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2> SIGNATURES</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2> EXHIBIT INDEX</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="6%" style="font-family:times;"><FONT SIZE=2>99.1</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><FONT SIZE=2>First Quarter Interim Financial Statements for the period ended March&nbsp;31,&nbsp;2008</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="6%" style="font-family:times;"><FONT SIZE=2>99.2</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><FONT SIZE=2>CEO Certification for First Quarter Interim Financial Statements for the period ended March&nbsp;31,&nbsp;2008</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="6%" style="font-family:times;"><FONT SIZE=2>99.3</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:times;"><FONT SIZE=2>CFO Certification for First Quarter Interim Financial Statements for the period ended March&nbsp;31,&nbsp;2008</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>
Page&nbsp;3 </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="bi71302_signatures"> </A>
<A NAME="toc_bi71302_1"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURES    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to&nbsp;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. </FONT></P>

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<TR VALIGN="TOP">
<TD WIDTH="52%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:times;"><FONT SIZE=2><B>KINROSS GOLD CORPORATION</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="52%" style="font-family:times;"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:times;"><FONT SIZE=2><BR>
Signed:</FONT></TD>
<TD WIDTH="36%" style="font-family:times;"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>JULIANA L. LAM</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Vice President, Finance</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="52%" style="font-family:times;"><BR><FONT SIZE=2> May&nbsp;14, 2008.</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="36%" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
</TABLE>
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<BR>
<P><br><A NAME="08ZBQ71302_1">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_bg71302_1">INDEX</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_bg71302_2">Table of Contents</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_bi71302_1">SIGNATURES</A></FONT><BR>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a2185795zex-99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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 </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="da71301_management_s_discussion_and_an__man02735"> </A>
<A NAME="toc_da71301_1"> </A>
<BR></FONT><FONT SIZE=2><B>Management's Discussion and Analysis<BR>  for the three months ended March&nbsp;31, 2008    <BR>    </B></FONT></P>


<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I>This management's discussion and analysis ("MD&amp;A") relates to the financial condition and results of operations of Kinross Gold
Corporation together with its wholly owned subsidiaries as of May&nbsp;12, 2008, and is intended to supplement and complement Kinross Gold Corporation's interim consolidated financial statements for
the period ended March&nbsp;31, 2008. Readers are cautioned that the MD&amp;A contains forward-looking statements and that actual events may vary from management's expectations. Readers are encouraged
to consult Kinross Gold Corporation's audited consolidated financial statements and corresponding notes to the financial statements for the year ended December&nbsp;31, 2007 for additional details,
which are available on the Company's web site at <U>www.kinross.com</U> and on <U>www.sedar.com</U>. The interim consolidated financial statements and MD&amp;A
are presented in United&nbsp;States dollars and have been prepared in accordance with Canadian generally accepted accounting principles ("CDN&nbsp;GAAP"). This discussion addresses matters we
consider important for an understanding of our financial condition and results of operations as of and for the three months ended March&nbsp;31,&nbsp;2008.  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I>This section contains forward-looking statements and should be read in conjunction with the risk factors described in the "Risk Analysis"
section and the "Cautionary Statement on Forward-Looking Information" at the end of this&nbsp;MD&amp;A.  </I></FONT></P>


<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><I>Where we say "we", "us", "our", the "Company" or "Kinross", we mean Kinross Gold Corporation or Kinross Gold Corporation and its
subsidiaries, as it may apply. Where we refer to the "industry", we mean the gold mining industry.  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Description of the Business  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinross is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and
processing of gold-containing ore, and reclamation of gold mining properties. Kinross' gold production and exploration activities are carried out principally in the United&nbsp;States,
Brazil, Chile and the Russian Federation. The Company had gold production activities in Canada up until December&nbsp;21, 2007, when the Porcupine Joint Venture ("PJV") and Musselwhite Joint Venture
("Musselwhite") were sold as part of the Goldcorp&nbsp;Inc. ("Goldcorp") asset swap transaction. Gold is produced in the form of dor&eacute;, which is shipped to refineries for final
processing. Kinross also produces and sells a quantity of&nbsp;silver. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
profitability and operating cash flow of Kinross is affected by various factors, including the amount of gold and silver produced, the market prices of gold and silver, operating
costs, interest rates, regulatory and environmental compliance, the level of exploration and capital expenditures, general and administrative costs, and other discretionary costs. Kinross is also
exposed to fluctuations in currency exchange rates, interest rates, political risks and varying levels of taxation that can impact profitability and cash flow. The Company seeks to manage the risks
associated with its business operations; however, many of the factors affecting these risks are beyond the Company's control. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>13</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_da71301_1_14"> </A>

<P style="font-family:;"><FONT SIZE=2><B><I>Financial and Operating Highlights  </I></B></FONT></P>

<!-- User-specified TAGGED TABLE -->
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<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=10 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>(in&nbsp;millions, except ounces, per share amounts, gold price and cost of sales per equivalent ounce)</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>% Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Operating Highlights</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Gold equivalent ounces</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=2>Produced<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>331,784</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>389,394</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(57,610</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(15%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=2>Sold<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>356,864</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>378,167</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(21,303</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(6%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=2><B>Financial Highlights</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Metal sales</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>330.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>245.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>84.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>34%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cost of sales<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>168.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>124.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>44.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>36%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Accretion and reclamation expense</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>4.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>40%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Depreciation, depletion and amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>37.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>30.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>25%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Operating earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>81.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>59.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>22.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>39%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Net earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>70.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>68.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Basic earnings per share</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.12</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.16</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.04</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(25%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Diluted earnings per share</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.11</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.15</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.04</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(27%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cash flow from operating activities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>76.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>90.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(13.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(15%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Average realized gold price per ounce</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>929</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>650</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>279</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>43%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cost of sales per equivalent ounce sold<SUP>(c)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>472</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>328</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>144</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>44%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(a)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Gold equivalent ounces include silver ounces produced and sold converted to a gold equivalent based on&nbsp;the ratio of the average spot market prices for
the commodities for each period. The ratio for the first quarter&nbsp;of 2008 was 52.57:1, compared with 48.89:1&nbsp;for the first quarter of 2007.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(b)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Cost of sales excludes
accretion and reclamation expense, depreciation, depletion and amortization.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(c)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Cost of sales per ounce is defined as cost of sales as per the financial statements divided by
the number of&nbsp;gold equivalent ounces sold.
  </I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impact of Key Economic Trends  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinross' 2007 Annual MD&amp;A contains a discussion of the key economic trends that affect the Company and its financial statements. Included in this MD&amp;A is an
update that reflects any significant changes since the preparation of the 2007 Annual&nbsp;MD&amp;A. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>Price of gold  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The largest single factor in determining profitability and cash flow from the Company's operations is the price of gold. The average market price of gold during
the first quarter of 2008 based on the London PM Fix gold price was $925 per ounce, ranging in price from a low of $847 per ounce to a high of $1,011 per ounce. This price compares with an average of
$650 per ounce during the first quarter of 2007. The Company realized an average price of $929 per ounce on its sales of gold during the quarter as compared to an average price of $650 per ounce in
the first quarter of&nbsp;2007. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>Foreign currencies  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's non-U.S.&nbsp;operations, which are located in Brazil, Chile and the Russian Federation, have a portion of their operating costs and
capital expenditures denominated in the local currency. In the first quarter of 2008, the Chilean peso, Brazilian real and Russian rouble all appreciated in value against the U.S.&nbsp;dollar during
the first quarter of&nbsp;2008. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>Inflationary cost pressures  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rising development and operating costs with respect to labour, energy and consumables continue to negatively impact the Company's profitability. Mining is an
energy intensive activity, especially in open-pit mining, so energy prices can have a significant impact on financial results. All operations experienced higher fuel costs in the first quarter of 2008
as compared to the same period in 2007. Electricity prices have also increased as demand continues to increase for diesel fuel and natural gas, which is used to drive electric generators. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>14</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outlook  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As previously announced, the Company expects 2008 production to grow to approximately 1.9&nbsp;million to 2.0&nbsp;million gold equivalent ounces and to
2.5&nbsp;million to 2.6&nbsp;million gold equivalent ounces in 2009. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Projects
currently underway are the Kupol mine, the Paracatu and Fort Knox expansion projects and the Kettle River-Buckhorn mine. Total capital expenditures in 2008 are expected to be
approximately $752&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exploration
and business development is expected to be approximately $60&nbsp;million. The Company anticipates that reclamation spending will be approximately $13&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
is expected that the Company's existing cash balances, which includes the proceeds on the issuance of Senior Convertible Notes in January&nbsp;2008, cash flow from operations and
existing credit facilities will be sufficient to fund operations and exploration, capital and reclamation programs in&nbsp;2008. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Developments  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Project Updates  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>Kupol project  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Progress on the Kupol project continues on target, with gold and silver production expected in May&nbsp;2008. All major equipment has been installed, and
progress continues on piping and electrical work, and leach tank installation is almost complete. Testing of mill equipment, crusher equipment and conveyor has commenced and ore is now being
processed. Both underground and open-pit development continue to progress well although arctic winter conditions and equipment availability have created some delays, but are not expected to impact the
timing of commissioning of the mine. Some 430,000&nbsp;tonnes of ore have been stockpiled in anticipation of commencement of&nbsp;production. Capital expenditures for 2008 are expected to increase
by approximately $10&nbsp;million as a result of the decision to buy the Kupol fuel transport fleet, as opposed to subcontracting for these services as originally planned. The Company intends to
provide a final capital amount for the project once commissioning is complete. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>Paracatu expansion  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Paracatu expansion project is scheduled for start-up in July&nbsp;2008, with physical construction approximately 89% complete and
$476&nbsp;million spent or committed as at March&nbsp;31, 2008. The crushing, conveying and stockpiling facilities are near completion and testing of these facilities began in May 2008. All mining
equipment is now on site, the electric shovel is being erected and training for mobile equipment operators is in progress. Capital expenditures at Paracatu are expected to increase by approximately
$10&nbsp;million as a result of accelerating the purchase of mobile equipment from 2009 to 2008. The Company intends to provide a total capital amount for the project once commissioning is complete,
which may be in the range of 5% to 8% in excess of the project budget, depending upon final costs and foreign exchange rates. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>Kettle River&nbsp;&#151;&nbsp;Buckhorn project  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Buckhorn project was approximately 90% complete as of March&nbsp;31, 2008, with $68&nbsp;million in capital having been committed or spent. Construction
of buildings and support facilities is expected to conclude in the second quarter. Haul road construction is expected to be completed in the third quarter. Underground mine development is proceeding
from two portals and gold production is expected to commence in October&nbsp;2008. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinross
has all permits and authorizations necessary to complete development and initiate commercial mining operations at Buckhorn. Project opponents appealed certain of these permits
and authorizations in 2006 and 2007. In April of 2008, Kinross reached a settlement agreement with project opponents pursuant to which all of these appeals have been dismissed with prejudice. The
settlement terms primarily focus on environmental monitoring and
mitigation measures, and in the funding of additional wetland, habitat and fisheries restoration and improvement projects in the Okanogan Highlands. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>Fort Knox Project  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinross has accelerated the schedule of the Fort Knox project in order to bring additional ounces expected from the project into production sooner. Based on the
revised schedule, production from the project is now expected to begin in </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>15</FONT></P>

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<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_da71301_1_16"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=2>mid-2009
instead of the end of 2009. The accelerated schedule will result in the Company advancing approximately $35&nbsp;million of capital expenditures from 2009 to 2008. The total expected
capital expenditure for 2008 and 2009 remains unchanged at $175&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Acquisition of Bema Gold Corporation  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a result of the acquisition by Kinross of 100% of the outstanding shares of Bema Gold Corporation ("Bema") on February&nbsp;27, 2007, the consolidated
results of operations include the results of these acquired operations commencing on that&nbsp;date. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
consideration for Bema was $2.9&nbsp;billion, consisting primarily of shares issued by Kinross, as acquirer. The acquisition is accounted for as a purchase business acquisition.
The value of the shares issued is based on the five-day weighted average closing price on the New&nbsp;York Stock Exchange, two days prior, the day of and two days after the day of announcement of
the acquisition, November&nbsp;6,&nbsp;2006. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=2>Kinross shares issued</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2,642.1</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=2>Cash</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4.2</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=2>Acquisition costs</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>38.4</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=2>Fair value of options and warrants issued</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>179.8</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=2>Fair value of equity component of convertible debt</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>23.7</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2,888.2</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has finalized the allocation of the purchase price as outlined&nbsp;below. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=2>Total current assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>121.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=2>Property, plant and equipment (including mineral interests)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1,586.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=2>Other long-term assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>142.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=2>Total liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(820.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=2>Goodwill</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1,858.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=2>Total purchase price</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2,888.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2><B><I>Disposition of Kubaka  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January&nbsp;25, 2008 a wholly-owned subsidiary of the Company, Kinam Magadan Gold Corporation, completed the sale of its approximately 98.1% interest in OAO
Omolon Gold Mining Company ("Omolon") to OAO Polymetal for a purchase price of $15.0&nbsp;million, plus a variable royalty on future production from the Kubaka gold mine properties. Omolon's assets
include the Kubaka gold mine and related mining licenses, located in the Magadan region in the far east of the Russian Federation. The Kubaka gold mine began commercial production in 1997 and ceased
mining operations in 2005. A gain of $11.5&nbsp;million was realized on this disposition. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>Hammond Reef Project  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Hammond Reef Project ("HRP") consists of certain mining claims in Northern Ontario, in which Kinross currently holds a 100% registered interest and a 40%
beneficial interest. Under an Option Agreement (the&nbsp;"Option") dated
March&nbsp;21, 2006, Brett Resources&nbsp;Inc. ("Brett") was granted an option to earn a 60% interest in the HRP in exchange for incurring expenditures of $5.0&nbsp;million and delivering to
Kinross 1,000,000&nbsp;shares in Brett. Under the Option, Brett has incurred the necessary level of expenditures and issued all of the shares to Kinross and has exercised the Option to acquire the
60% interest in the&nbsp;HRP. On March&nbsp;27, 2008, Kinross and Brett entered into a letter of intent (the&nbsp;"Brett LOI") whereby Brett would acquire Kinross' 100% interest in the HRP.
Pursuant to the Brett LOI, Brett will issue an additional 14.0&nbsp;million shares in Brett and grant a 2% net smelter return royalty in exchange for Kinross' remaining 40% interest. The transaction
is expected to close in the second quarter of&nbsp;2008. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>16</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=4,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=566897,FOLIO='16',FILE='DISK133:[08ZBQ1.08ZBQ71301]DA71301A.;16',USER='FALVARE',CD='14-MAY-2008;12:51' -->
<A NAME="page_da71301_1_17"> </A>


<P style="font-family:;"><FONT SIZE=2><B><I>Louisiana Land and Exploration Company Royalty  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A royalty payment known as the Louisiana Land and Exploration Company ("LL&amp;E") royalty applies to Kinross' 50% interest in Round Mountain. The royalty rate is 3%
of gross proceeds until the time that total royalty payments of $75.0&nbsp;million are paid, and 1.5% thereafter. To date, cumulative royalty payments total $60.0&nbsp;million. On
January&nbsp;23, 2008, the Company purchased the LL&amp;E royalty from ConocoPhillips. The purchase price was $26.5&nbsp;million and the effective date of the purchase was January&nbsp;1, 2008. On
January&nbsp;31, 2008, pursuant to the terms of the Round Mountain joint venture, the Company offered Barrick Gold Corporation ("Barrick") the opportunity to purchase 50% of the royalty, on a
pro&nbsp;rata basis with Barrick's joint venture interest. On February&nbsp;11, 2008, Barrick accepted the offer, however, the transaction has not yet been completed. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated Results of Operations  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Operating Highlights  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=10 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>(in&nbsp;millions, except ounces and per share amounts)</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>% Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Operating Statistics</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Gold equivalent ounces</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="44%" style="font-family:;"><FONT SIZE=2>Produced<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>331,784</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>389,394</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(57,610</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(15%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="44%" style="font-family:;"><FONT SIZE=2>Sold<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>356,864</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>378,167</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(21,303</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(6%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Gold ounces&nbsp;&#151;&nbsp;sold</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>305,176</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>327,735</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(22,559</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(7%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Silver ounces&nbsp;&#151;&nbsp;sold</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>2,717,276</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2,434,321</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(282,955</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(12%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Average realized gold price ($/ounce)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>929</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>650</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>279</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>43%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=2><B>Financial Data</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Metal sales</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>330.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>245.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>84.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>34%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cost of sales<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>168.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>124.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>44.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>36%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Accretion and reclamation expense</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>4.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>40%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Depreciation, depletion and amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>37.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>30.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>25%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Operating earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>81.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>59.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>22.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>39%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Net earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>70.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>68.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(a)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Gold equivalent ounces include silver ounces produced and sold converted to a gold equivalent based on&nbsp;the ratio of the average spot market prices for
the commodities for each period. The ratio for the first quarter&nbsp;of 2008 was 52.57:1, compared with 48.89:1&nbsp;for the first quarter of 2007.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(b)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Cost of sales excludes
accretion and reclamation expense, depreciation, depletion and amortization.  </I></FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2><B>First quarter 2008 vs. first quarter 2007  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinross produced 331,784&nbsp;gold equivalent ounces in the first quarter of 2008, down from 389,394&nbsp;ounces in the first quarter of 2007. The decrease in
production was due to the expected net reduction in ounces produced as a result of the asset swap transaction with Goldcorp, and also to short-term operational issues at Fort Knox, Round Mountain and
La&nbsp;Coipa. The decrease was partially offset with additional ounces from Maricunga due to the acquisition of the 50% that Kinross did not previously own in the Bema acquisition in
February&nbsp;2007. As a result of a lower number of ounces produced and the impact of the disposal of PJV and Musselwhite in December&nbsp;2007, gold equivalent sales were 356,864&nbsp;ounces
in the first three months of 2008, a decrease of 21,303&nbsp;ounces from the same period in 2007. Ounces sold were down at Round Mountain and Crix&aacute;s, which was offset in part by
increases at La Coipa, due to the additional ounces gained through the asset swap transaction, increases at Maricunga due to the Bema acquisition, and an increase in ounces sold at Fort Knox, as
12,000&nbsp;ounces produced in 2007 were sold in&nbsp;2008. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metal
sales increased to $330.2&nbsp;million in the first three months of 2008 as compared to $245.7&nbsp;million in the same period in 2007 due to a higher realized gold price,
offset in part by the lower number of gold equivalent ounces sold. Cost of sales increased due to higher consumable costs at most operations; the impact of strengthening currencies, most significantly
the appreciation of the Chilean peso and the Brazilian real against the U.S.&nbsp;dollar;
increased maintenance-related costs at Maricunga; reduced production at Fort Knox, Round Mountain, and La&nbsp;Coipa; and increased price-based royalties at Round Mountain and Fort Knox.
Depreciation, depletion and amortization increased as capital additions and pit expansions undertaken in 2007 were placed into production in&nbsp;2008. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>17</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=5,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=543788,FOLIO='17',FILE='DISK133:[08ZBQ1.08ZBQ71301]DA71301A.;16',USER='FALVARE',CD='14-MAY-2008;12:51' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_dc71301_1_18"> </A>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


 </FONT> <FONT SIZE=2><B><I>Operating Earnings by Segment  </I></B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="57%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=10 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="57%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>(in millions)</FONT><BR>
<BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>% Change<SUP>(f)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>Fort Knox</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>28.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>14.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>13.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>91%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>Round Mountain</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>22.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>28.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(5.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(21%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>Paracatu</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>15.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>96%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>La Coipa<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>21.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>15.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>5.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>38%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>Maricunga<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>19.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>13.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>202%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>Crix&aacute;s</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>9.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>18%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>Julietta<SUP>(c)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(1.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>nm</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>Kettle River</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(1.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(1.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>Porcupine Joint Venture</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(4.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>nm</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>Musselwhite</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>nm</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>Other operations<SUP>(d)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(1.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(2.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>59%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>Corporate<SUP>(e)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(32.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(21.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(11.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(55%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>81.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>59.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>22.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>39%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(a)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>As a result of the Goldcorp asset swap transaction, the results of operations (excluding tonnes of ore mined and processed) reflect the Company's 50% ownership
up to December&nbsp;21, 2007 and&nbsp;100% thereafter.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(b)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Includes results of operations from the 50% of the Maricunga mine acquired from Bema on February&nbsp;27,&nbsp;2007.
</I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(c)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Includes results of operations from the Julietta mine acquired from Bema on February&nbsp;27,&nbsp;2007.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(d)</I></FONT></DT>
<DD style="font-family:;"><FONT SIZE=1><I> "Other operations" include Kubaka.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(e)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> "Corporate" includes operating costs which are not directly related to individual mining properties such as general
and administrative expenditures, gains on disposal of assets and
investments and other operating costs.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(f)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> 'nm' means not meaningful.  </I></FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2><B><I>Mining Operations  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Fort Knox (100% ownership and operator)&nbsp;&#151;&nbsp;USA  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=10 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>% Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Operating Statistics</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Tonnes ore mined (000's)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>6,471</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4,261</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2,210</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>52%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Tonnes processed (000's)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>3,095</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2,981</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>114</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Grade (grams/tonne)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.80</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.98</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.18</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(18%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Recovery</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>82.3%</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>88.3%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(6%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(7%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Gold equivalent ounces:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=2>Produced</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>65,394</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>82,714</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(17,320</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(21%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=2>Sold</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>76,954</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>72,765</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4,189</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=2><B>Financial Data</B></FONT><FONT SIZE=2> (in&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Metal sales</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>71.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>47.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>23.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>50%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cost of sales<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>35.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>23.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>11.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>48%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Accretion and reclamation expense</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(33%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Depreciation, depletion and amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>7.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(11%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>28.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>15.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>13.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>86%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Exploration</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(60%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Segment Earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>28.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>14.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>13.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>91%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(a)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Cost of sales excludes accretion and reclamation expense, depreciation, depletion and amortization.  </I></FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>18</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=6,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=233555,FOLIO='18',FILE='DISK133:[08ZBQ1.08ZBQ71301]DC71301A.;11',USER='FALVARE',CD='14-MAY-2008;11:00' -->
<A NAME="page_dc71301_1_19"> </A>


<P style="font-family:;"><FONT SIZE=2><B>First quarter 2008 vs. first quarter 2007  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gold equivalent ounces produced were 65,394&nbsp;in the first quarter of 2008, a decrease of 21% when compared to the first quarter of 2007, due to a lower
recovery rate and lower grade. The lower grade was due to mining from an area of the pit where the ore is historically harder and of a lower grade than in areas mined in the same period in 2007.
Tonnes of ore processed increased due to the implementation of a pebble reject system in late 2007. SAG mill pebbles, rather than being re-processed through the plant, are now being
stockpiled to be used as liner cover for the heap leach pad. This has increased mill throughput by approximately 90,000&nbsp;tonnes per month. The pebble reject system has resulted in a decrease in
the recovery rate through the mill, which is expected to be more than offset by increased throughput in the mill and recovery of gold in the pebbles through the leaching process. The recovery rate was
also negatively impacted by the presence of traces of molybdenum in the ore. Gold equivalent ounces sold in the first quarter of 2008 increased to 76,954&nbsp;ounces from 72,765&nbsp;ounces in the
first quarter of 2007. This increase reflects 12,000&nbsp;ounces that were produced in late 2007 and sold in&nbsp;2008. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
increase in metal sales in the first quarter of 2008 as compared to the same period in 2007 is primarily due to an increase in the price of gold, and the sale of 12,000&nbsp;ounces
that had been produced in 2007. Cost of sales is higher by 48% in the first three months of 2008 compared to the first three months of 2007 primarily as a result of higher costs for electricity and
diesel fuel, reflecting higher prices and higher consumption due to longer hauls from the pit. During the first quarter of 2008 compared to the first quarter in 2007, depreciation, depletion and
amortization expense was down to $7.1&nbsp;million due to increases in reserves, offset in part by capital additions. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Round Mountain (50% ownership and operator; Barrick 50%)&nbsp;&#151;&nbsp;USA  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=10 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>% Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Operating Statistics</B></FONT><FONT SIZE=2><SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Tonnes ore mined (000's)<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>5,145</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>5,975</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(830</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(14%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Tonnes processed (000's)<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>10,977</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>9,557</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1,420</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>15%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Grade (grams/tonne)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.51</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.47</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.04</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>9%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Gold equivalent ounces:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=2>Produced</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>63,604</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>84,280</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(20,676</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(25%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=2>Sold</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>59,191</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>83,720</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(24,529</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(29%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=2><B>Financial Data</B></FONT><FONT SIZE=2> (in&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Metal sales</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>54.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>55.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cost of sales<SUP>(c)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>26.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>24.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Accretion and reclamation expense</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Depreciation, depletion and amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>5.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>247%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>22.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>28.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(6.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(22%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Exploration</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(50%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Segment earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>22.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>28.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(5.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(21%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(a)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Due to the nature of heap leach operations, recovery rates cannot be accurately measured.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(b)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Tonnes of ore
mined/processed represents 100% of mine production.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(c)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Cost of sales excludes accretion and reclamation expense, depreciation, depletion and amortization.
</I></FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2><B>First quarter 2008 vs. first quarter 2007  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the first quarter of 2008, reduced production was due to unanticipated crusher repairs contributed to a 25% decrease in gold equivalent ounces produced to
63,604&nbsp;ounces as compared to the first quarter of 2007. This
reduced production impacted gold equivalent ounces sold, with 59,191&nbsp;ounces sold in the first three months of 2008 compared to 83,720&nbsp;ounces in the same period in&nbsp;2007. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due
to a higher gold price in the first quarter of 2008 as compared to that realized in the first quarter in 2007, metal sales remained the same, despite lower gold equivalent ounces
sold. Cost of sales increased 7% to $26.0&nbsp;million in the first three months of 2008 as compared to the same period in 2007, the result of rising costs for fuel, wages and revenue-based
royalties, offset in part by lower gold sales. Depreciation, depletion and amortization expense increased to </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>19</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=7,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=937841,FOLIO='19',FILE='DISK133:[08ZBQ1.08ZBQ71301]DC71301A.;11',USER='FALVARE',CD='14-MAY-2008;11:00' -->
<A NAME="page_dc71301_1_20"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=2>$5.9&nbsp;million
in the first quarter of 2008 as compared to $1.7&nbsp;million in the corresponding period in 2007, reflecting the higher asset base primarily due to the expansion efforts. The
decrease in exploration expense in the first three months of 2008 as compared to the same period in 2007 is the result of curtailment of the underground exploration activities undertaken
in&nbsp;2007. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Paracatu (100% ownership and operator)&nbsp;&#151;&nbsp;Brazil  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=10 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>% Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Operating Statistics</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Tonnes ore mined (000's)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>4,608</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4,686</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(78</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(2%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Tonnes processed (000's)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>4,791</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4,633</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>158</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Grade (grams/tonne)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.37</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.35</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.02</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Recovery</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>77.9%</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>76.9%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.0%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Gold equivalent ounces:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Produced</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>43,236</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>40,732</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2,504</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Sold</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>42,465</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>43,984</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(1,519</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(3%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=2><B>Financial Data</B></FONT><FONT SIZE=2> (in&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Metal sales</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>39.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>28.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>11.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>39%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cost of sales<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>19.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>16.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>20%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Accretion and reclamation expense</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>50%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Depreciation, depletion and amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>3.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>16.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>9.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>83%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Exploration</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(67%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>1.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>11%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Segment earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>15.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>96%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(a)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Cost of sales excludes accretion and reclamation expense, depreciation, depletion and amortization.  </I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>First quarter 2008 vs. first quarter 2007  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the first quarter of 2008, gold equivalent ounces produced increased 6% to 43,236&nbsp;ounces compared to 40,732&nbsp;ounces in the first quarter of 2007.
This reflects a 3% increase in tonnes processed, improved grade to 0.37&nbsp;grams per tonne ("gpt") and a higher recovery rate. Gold equivalent ounces sold was 42,465&nbsp;ounces in the first
three months of 2008, a decrease of 1,519&nbsp;ounces from the same period in&nbsp;2007. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue
from metal sales increased 39% to $39.5&nbsp;million in the first three months of 2008 as compared to $28.5&nbsp;million in the first three months of 2007, primarily due to
the higher gold price, offset in part by the reduction in ounces sold. Cost of sales was $19.2&nbsp;million in the first quarter of 2008, an increase of 20% over the first quarter of 2007 primarily
due to cost increases caused by the appreciation of the Brazilian real as compared to the U.S.&nbsp;dollar and increases in the cost of consumables. In particular, more expensive grinding material
was used to process the harder ore that was mined in the first quarter of 2008 as compared to the ore mined in the same period in 2007. Depreciation, depletion and amortization expense remained
constant in the first quarter of 2008 as compared to the same period of 2007, and accretion and reclamation expense increased to $0.3&nbsp;million. Exploration expenses were lower in the first three
months of 2008 as exploration activities were reduced as the site focused on the expansion project. (See&nbsp;Section&nbsp;4&nbsp;&#151;&nbsp;Developments) </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>20</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=8,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=194438,FOLIO='20',FILE='DISK133:[08ZBQ1.08ZBQ71301]DC71301A.;11',USER='FALVARE',CD='14-MAY-2008;11:00' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_de71301_1_21"> </A>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


 </FONT> <FONT SIZE=2><B>La Coipa (100% ownership and operator; 2007: 50% ownership; Goldcorp 50% and operator)&nbsp;&#151;&nbsp;Chile<SUP>(d)</SUP>  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=10 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>% Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Operating Statistics</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Tonnes ore mined (000's)<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>143</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>909</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(766</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(84%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Tonnes processed (000's)<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>1,164</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>783</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>381</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>49%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Grade (grams/tonne)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=2>Gold</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.83</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.79</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.04</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>5%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=2>Silver</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>76.76</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>281.68</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(204.92</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(73%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Recovery</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=2>Gold</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>81.3%</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>59.9%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>21.4%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>36%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=2>Silver</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>63.4%</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>73.7%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(10.3%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(14%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Gold equivalent ounces<SUP>(b)</SUP>:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=2>Produced</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>60,893</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>56,295</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4,598</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=2>Sold</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>80,654</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>48,026</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>32,628</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>68%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Silver ounces produced (000's)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>1,862.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2,502.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(639.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(26%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Silver ounces sold (000's)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>2,511.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2,136.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>375.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>18%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=2><B>Financial Data</B></FONT><FONT SIZE=2> (in&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Metal sales</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>73.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>31.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>41.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>133%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cost of sales<SUP>(c)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>36.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>9.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>26.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>272%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Accretion and reclamation expense</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>2.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>567%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Depreciation, depletion and amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>12.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>5.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>140%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>23.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>16.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>41%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Exploration</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>1.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>83%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>400%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Segment earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>21.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>15.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>5.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>38%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(a)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Tonnes of ore mined/processed represents 100% of mine production.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(b)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Gold equivalent ounces include silver ounces
produced and sold converted to a gold equivalent based on the ratio of the average spot market prices for the commodities for each period.
The ratio for the first three months of 2008 was 52.27:1, compared with 48.89:1&nbsp;for the first three months of&nbsp;2007.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(c)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Cost of sales excludes accretion and
reclamation expense, depreciation, depletion and amortization.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(d)</I></FONT></DT>
<DD style="font-family:;"><FONT SIZE=1><I> As a result of the Goldcorp asset swap transaction, the results of operations (excluding tonnes of ore mined and processed) reflect the Company's 50% ownership up to
December&nbsp;21, 2007 and 100% thereafter.  </I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>First quarter 2008 vs. first quarter 2007  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the first quarter of 2008, as compared to the same period in 2007, gold equivalent production decreased 46% to 60,893&nbsp;ounces on a 100% basis
(30,446&nbsp;ounces on a 50% basis). In the prior year, La&nbsp;Coipa produced 56,295 gold equivalent ounces, representing Kinross' 50% share in the first quarter of 2008. Total tonnes of ore
mined were down to 143,000&nbsp;tonnes from 909,000&nbsp;tonnes in the first quarter of 2007, both on a 100% basis, as a result of
a pit wall failure in January, which blocked access to the Coipa Norte pit. Production was supplemented from stockpiled ore, resulting in an overall decrease in processed ore to
1,164,000&nbsp;tonnes in the first three months of 2008 on a 100% basis, from 783,000&nbsp;tonnes in the corresponding period in 2007. The stockpiled ore used in the first quarter of 2008
contained a lower grade of silver ore of 76.76&nbsp;gpt as compared to 281.68&nbsp;gpt in the first quarter of 2007. Gold grade increased to 0.83&nbsp;gpt, and recovery of gold improved to 81.3%
in the first three months of 2008, compared to a recovery rate of 59.9% in the first three months of 2007. Gold equivalent ounces sold were 80,654&nbsp;ounces in the first three months of 2008, on a
100% basis, which included approximately 20,000&nbsp;ounces produced in late 2007. This represented an overall decrease of 16% from the 96,052&nbsp;gold equivalent ounces sold in the first three
months of 2007, on a 100%&nbsp;basis. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metal
sales in the first quarter of 2008 were $73.3&nbsp;million as compared to $31.4&nbsp;million for the corresponding period in 2007. This reflects an increase of approximately
17% on a 100% basis, due to a higher gold price, offset in part by lower gold equivalent ounces sold. During the first quarter of 2008, cost of sales was $36.1&nbsp;million, an increase of
$16.7&nbsp;million on a 100% basis. This is due to the increase to fair value of the cost of inventory acquired in the asset swap transaction </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>21</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=9,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=1018763,FOLIO='21',FILE='DISK133:[08ZBQ1.08ZBQ71301]DE71301A.;14',USER='FALVARE',CD='14-MAY-2008;11:20' -->
<A NAME="page_de71301_1_22"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=2>with
Goldcorp, increases in fuel and grinding materials, and other consumables. Accretion and reclamation expense increased by $1.7&nbsp;million in the first three months of 2008 as compared to the
same period in 2007, reflecting Kinross' additional interest in La&nbsp;Coipa, higher input costs and an increase in the accrued reclamation obligation. An increase in depreciation, depletion and
amortization expense of 20% on a 100% basis was the result of the addition of capital equipment that was put into production. Exploration costs remained constant in comparison to the first quarter
of&nbsp;2007. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Maricunga<SUP>(a)</SUP> (100% ownership and operator; 2007: 50% ownership and operator)&nbsp;&#151;&nbsp;Chile  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=10 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>% Change<SUP>(e)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Operating Statistics</B></FONT><FONT SIZE=2><SUP>(a)</SUP><SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Tonnes ore mined (000's)<SUP>(c)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>3,842</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3,976</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(134</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(3%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Tonnes processed (000's)<SUP>(c)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>3,903</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4,002</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(99</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(2%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Grade (grams/tonne)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.71</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.76</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.05</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(7%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Gold equivalent ounces:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=2>Produced</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>61,379</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>41,040</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>20,339</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>50%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=2>Sold</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>61,800</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>37,995</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>23,805</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>63%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=2><B>Financial Data</B></FONT><FONT SIZE=2> (in&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Metal sales</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>57.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>24.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>33.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>135%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cost of sales<SUP>(d)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>34.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>15.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>18.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>121%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Accretion and reclamation expense</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>nm</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Depreciation, depletion and amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>3.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>95%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>19.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>12.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>176%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Exploration</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(100%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>nm</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Segment earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>19.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>13.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>202%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(a)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>As a result of the purchase of Bema, the results of operations (excluding tonnes of ore mined and processed) reflect the Company's 50% ownership up to
February&nbsp;27, 2007 and 100% ownership thereafter.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(b)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Due to the nature of heap leach operations, recovery rates cannot be accurately measured.  </I></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT
SIZE=1><I>(c)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Tonnes of ore mined/processed represents 100% of mine production.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(d)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Cost of sales excludes accretion and reclamation expense,
depreciation, depletion and amortization.
  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(e)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> "nm" means not meaningful.  </I></FONT></DD></DL>
<BR>

<P style="font-family:;"><FONT SIZE=2><B>First quarter 2008 vs. first quarter 2007  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the first quarter of 2008, gold equivalent ounces produced at Maricunga increased to 61,379&nbsp;ounces as compared to 41,040&nbsp;ounces in the
corresponding period in 2007, as a result of the additional 50% of the mine acquired as part of the Bema acquisition in February&nbsp;2007. On a 100% basis, production was relatively constant with
an increase of 2% over the same period. As expected, ore grade was 0.71&nbsp;gpt in the first quarter of 2008 due to mining in a different area of the pit than during the same period in 2007. Gold
equivalent ounces sold increased to 61,800&nbsp;ounces in the first three months of 2008 compared to the first three months of 2007 due to the addition of ounces acquired in the Bema acquisition. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metal
sales were $57.6&nbsp;million for the first three months of 2008 as compared to $24.5&nbsp;million in the corresponding period in 2007 as additional ounces were sold on
Kinross' account. Sales increased approximately 59% on a 100% basis as a result of a higher gold price in the first quarter of 2008 as compared to the first quarter of 2007, plus additional ounces
sold. Cost of sales increased approximately 61% on a 100% basis due to the impact of the appreciation of the Chilean peso against the U.S.&nbsp;dollar, increases in revenue-based royalty costs,
increased costs for energy, fuel, propane and blasting materials and high costs for plant maintenance and contractors. Depreciation, depletion and amortization expense was $3.9&nbsp;million for the
first three months of 2008 as compared to $2.0&nbsp;million in the same period in 2007, an increase of 50% on a 100% basis, due to an increase in the capital asset base and increased sales
quantities. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>22</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=10,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=183461,FOLIO='22',FILE='DISK133:[08ZBQ1.08ZBQ71301]DE71301A.;14',USER='FALVARE',CD='14-MAY-2008;11:20' -->
<A NAME="page_de71301_1_23"> </A>

<P style="font-family:;"><FONT SIZE=2><B>Crix&aacute;s (50% ownership; AngloGold Ashanti 50% and operator)&nbsp;&#151;&nbsp;Brazil  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=10 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>% Change<SUP>(c)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Operating Statistics</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Tonnes ore mined (000's)<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>198</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>202</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(2%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Tonnes processed (000's)<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>198</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>202</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(2%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Grade (grams/tonne)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>6.79</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7.69</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.90</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(12%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Recovery</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>95.6%</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>95.0%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.6%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Gold equivalent ounces:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=2>Produced</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>20,630</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>23,740</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(3,110</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(13%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=2>Sold</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>19,974</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>27,503</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(7,529</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(27%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=2><B>Financial Data</B></FONT><FONT SIZE=2> (in&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Metal sales</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>18.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>17.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cost of sales<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>5.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(5%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Accretion and reclamation expense</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>nm</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Depreciation, depletion and amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>2.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(20%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>10.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>18%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Exploration</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Segment earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>9.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>18%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(a)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Tonnes of ore mined/processed represents 100% of mine production.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(b)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Cost of sales excludes accretion and reclamation
expense, depreciation, depletion and amortization.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(c)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> "nm" means not meaningful.  </I></FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2><B>First quarter 2008 vs. first quarter 2007  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gold equivalent production in the first three months of 2008 was 20,630&nbsp;ounces, a decrease of 3,110&nbsp;ounces, or 13%, from the same period in 2007
even though tonnes processed decreased 2%. The primary reason was a lower ore grade of 6.79&nbsp;gpt as compared to 7.69&nbsp;gpt in 2007, offset by a 1% improvement in the recovery rate. Gold
equivalent ounces sold were 19,974&nbsp;ounces in the first quarter of 2008, a decrease of 27% compared to the first quarter of 2007, due to lower production and the impact of gold production in the
fourth quarter of 2006 being included in ounces sold in the first quarter of&nbsp;2007. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metal
sales increased by 4% to $18.4&nbsp;million in the first three months of 2008 as compared to $17.7&nbsp;million in the corresponding period in 2007 due to a higher gold price,
offset in part by the reduced gold equivalent ounces sold. Cost of sales in the first quarter of 2008 as compared to the first quarter of 2007 decreased to $5.9&nbsp;million, a 5% decrease from the
same period in 2007. This was due to the lower number of ounces sold, offset in part by higher costs due to the appreciation of the Brazilian real as compared to the U.S.&nbsp;dollar. Cost of sales
was lower in the first three months of 2008 compared to the first three months of 2007 due to lower sales levels, offset in part by higher costs for labour and consumables, in the first quarter of
2008 as compared to the same period in 2007. Depreciation, depletion and amortization expense was down to $2.4&nbsp;million in the three months ended March&nbsp;31, 2008 as compared to the same
period in 2007 due to the reduction in production levels. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Julietta (90% ownership and operator)&nbsp;&#151;&nbsp;Russian Federation  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>First quarter 2008 vs. first quarter 2007  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gold equivalent ounces produced in the first quarter of 2008 were 16,648&nbsp;ounces as compared to 7,763&nbsp;ounces in 2007, for the period from
February&nbsp;27, 2007 to March&nbsp;31, 2007 as a result of the Bema acquisition. Gold equivalent ounces sold in the first quarter of 2008 as compared to the first quarter of 2007 were
15,826&nbsp;ounces compared to 14,086&nbsp;ounces, which included the sale of inventory in March 2007 that had been acquired in the acquisition. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>23</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the first quarter of 2008, metal sales were $15.1&nbsp;million, as compared to $8.4&nbsp;million to Kinross' account in the first quarter of 2007. Cost of sales increased to
$11.7&nbsp;million from $6.9&nbsp;million in the first quarter of 2008 as compared to the first quarter of 2007, due to the increase in ounces produced and higher operating costs. Depreciation,
depletion and amortization increased by $0.3&nbsp;million when comparing the first quarter of 2007 to the corresponding period in&nbsp;2008. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Other Operating Segments  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Included in other operating segments is the Kupol project which is scheduled to begin production in the second quarter of&nbsp;2008. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B><I>Exploration and business development  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exploration and business development expenditures totaled $11.9&nbsp;million in the first quarter of 2008, compared to $7.9&nbsp;million in the first quarter
of 2007. Kinross was active on 20&nbsp;minesite and greenfield exploration projects, spending $8.8&nbsp;million in the first quarter of 2008. Forecast exploration and corporate development
expenditures for the year are $60&nbsp;million, of which forecast exploration expenditures are $52&nbsp;million, with planned expenditures split approximately 35/65&nbsp;on minesite and
greenfields-related activities. The planned proportion of greenfields exploration activity is up over 2007 and in line with the company's strategic growth plans. Total forecast exploration and
business development expenditures for 2008 include an additional $7&nbsp;million for technical services that support exploration and development activities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
total of 34,729&nbsp;metres were drilled at nine projects during the first quarter of 2008 in the American, Andean and Brazilian regions of operation. This included drilling at La
Coipa, Fort Knox, Round Mountain and Crix&aacute;s. The primary objective of the minesite exploration programs is the growth of reserves and resources, net of production. Greenfield
exploration is a fundamental component of the Company's strategic growth objectives through the discovery and development of new precious metals deposits. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B><I>General and administrative  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative costs are related to the overall management of the business and include corporate office expenses, which are primarily incurred in
Canadian dollars. Costs in the first quarter of 2008 were $23.2&nbsp;million compared to $14.7&nbsp;million in the first quarter of 2007, an increase of $8.5&nbsp;million. Corporate costs have
increased primarily as a result of higher personnel costs. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>Other income (expense)&nbsp;&#151;&nbsp;net  </I></B></FONT></P>

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<TR VALIGN="BOTTOM">
<TH WIDTH="56%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=4 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008 vs. 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="56%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>% Change<SUP>(a)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=2>Gain on sale of assets and investments&nbsp;&#151;&nbsp;net</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>11.9</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>5.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>80%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=2>Interest income and other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>8.0</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>4.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>135%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=2>Interest expense</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(5.0</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(4.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(733%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=2>Foreign exchange losses</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(17.4</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(7.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(10.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(145%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=2>Realized non-hedge derivative gains (losses)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(0.6</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(5.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>5.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>89%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=2>Unrealized non-hedge derivative gains (losses)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>23.0</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>32.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(9.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(29%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=2>Other income (expense)&nbsp;&#151;&nbsp;net</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>19.9</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>29.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(9.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(32%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(a)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>"nm" means not meaningful.  </I></FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>24</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><A
NAME="page_dg71301_1_25"> </A>


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 </FONT> <FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income and expense decreased from $29.2&nbsp;million in the first quarter of 2007 to $19.9&nbsp;million in the first quarter of 2008. This was primarily the result of an
increase in the amount of gains on the sale of assets and investments in the first quarter of 2008 compared to the first quarter of 2007, and increased interest income as compared to the same period
in 2007 due to the increase in cash balances. This was offset in part by increased interest expense in the first three months of 2008 versus the same period in 2007 due to the convertible debt that
was issued on January&nbsp;29, 2008. Foreign exchange losses were primarily the result of the weakening U.S.&nbsp;dollar against the Chilean peso, Brazilian real and Russian rouble and a weakening
Canadian dollar in the quarter. A reduction in other income was also recorded due to lower non-hedge derivative gains recorded during the first quarter of 2008 as compared to the first
quarter of 2007, as the Company achieved hedge accounting in the second quarter of 2007, whereby gains and losses on most derivative contracts are recorded through Other Comprehensive Income ("OCI")
and not through earnings from the time hedge accounting was achieved. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><I>Interest and other income and interest expense  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due to higher cash balances, interest and other income increased to $8.0&nbsp;million from $3.4&nbsp;million in the first quarter of 2008 as compared to the
same period in 2007. Additional debt was taken on by the issuance of the Senior Convertible Notes issued in January&nbsp;2008. As a result, interest expense was higher by $4.4&nbsp;million, to
$5.0&nbsp;million from $0.6&nbsp;million, in the first quarter of 2008 as compared to the same period in 2007. Interest expense of $10.5&nbsp;million was capitalized in the first quarter of 2008
as compared to $3.2&nbsp;million in the first quarter of&nbsp;2007. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><I>Foreign exchange losses  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company recorded a foreign exchange loss of $17.4&nbsp;million for the first quarter of 2008, which includes a loss of $8.6&nbsp;million on net foreign
currency denominated liabilities, primarily future tax liabilities, due to a weakening U.S.&nbsp;dollar against the Brazilian real, Chilean peso and Russian rouble during the quarter. Additionally,
the impact of the weakening Canadian dollar against the U.S.&nbsp;dollar in the quarter resulted in a foreign exchange loss on Canadian cash balances. This compares with a foreign exchange loss of
$7.1&nbsp;million for the first quarter of&nbsp;2007. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Non-hedge derivative gains  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net non-hedge derivative gains of $22.4&nbsp;million were recorded during the three months ended March&nbsp;31, 2008 compared to
$26.9&nbsp;million during the same period in 2007. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinross
acquired Bema in February&nbsp;2007, and as part of that acquisition, Kinross acquired derivative contracts which hedged the company against adverse price changes in gold,
silver, and changes in U.S.&nbsp;interest&nbsp;rates. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From
February&nbsp;2007 until May&nbsp;2007 the gold and silver derivative contracts were being marked-to-market and any changes in their value recorded
directly in earnings in the period. As the price of gold and silver declined during this period, the Company realized gains on these contracts. In May&nbsp;2007, the contracts were designated for
hedge accounting. From that point forward, most of the mark-to-market changes in value were reported in&nbsp;OCI. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
December&nbsp;2007 the Company re-designated the hedge relationship for these derivative contracts using a new methodology for assessing their effectiveness. Under the new
methodology, the changes in the value of the contracts due to changes in the spot price of gold or silver are recorded in OCI. Any changes in the spot forward differential in the contracts are
excluded from the assessment of effectiveness for hedge accounting purposes and are recorded in income. During the first quarter of 2008, U.S.&nbsp;interest rates declined substantially, reducing
the spot forward differential on gold and silver contracts. This resulted in a substantial gain in value on the derivative gold and silver contracts. This gain was recorded in income along with
realized gains and losses during the&nbsp;period. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>Income and mining taxes  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is subject to a variety of taxes in all of the jurisdictions in which it operates. Operating losses and other tax attributes in some of these
jurisdictions, including Canada, the United&nbsp;States, Brazil and Chile, have impacted the effective tax rate on the taxable income earned in the jurisdiction. In the first quarter of 2008, the
Company recorded an income and mining tax expense of $24.9&nbsp;million on earnings before tax of $101.7&nbsp;million. This compares to a provision of $19.2&nbsp;million on earnings before taxes
and other items of $88.2&nbsp;million in the first quarter of&nbsp;2007. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>25</FONT></P>

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<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_dg71301_1_26"> </A>

<P style="font-family:;"><FONT SIZE=2><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liquidity and Capital Resources  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table summarizes Kinross' cash flow activity: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=4 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008 vs. 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>(in&nbsp;millions)<BR></FONT>
<BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>% Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cash flow:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Provided from operating activities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>76.3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>90.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(13.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(15%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Used in investing activities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(346.1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(52.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(293.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(557%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Provided from financing activities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>453.2</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>29.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>423.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1431%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Effect of exchange rate changes on cash</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(1.8</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(2.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(550%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Increase (decrease) in cash and cash equivalents</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>181.6</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>67.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>114.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>169%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cash and cash equivalents:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Beginning of period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>551.3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>154.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>397.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>258%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>End of period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>732.9</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>221.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>511.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>231%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash
and cash equivalent balances increased to $732.9&nbsp;million at March&nbsp;31, 2008 from $221.6&nbsp;million at March&nbsp;31, 2007. In the first quarter of 2008, operating
activities added $76.3&nbsp;million, the exercise of options and warrants generated $28.4&nbsp;million and net increases in debt contributed $456.6&nbsp;million. Cash of $190.5&nbsp;million
was used to invest in property, plant and equipment and $146.7&nbsp;million was invested in short-term investments in the first quarter of&nbsp;2008. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>Operating Activities  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating cash flows were $76.3&nbsp;million on earnings of $70.9&nbsp;million for the three months ended March&nbsp;31, 2008, primarily as a result of
higher gold and silver prices. This compares to cash flows from operating earnings in the first three months of 2007 of $90.2&nbsp;million on earnings of $68.5&nbsp;million. Net increases in
operating assets and liabilities used $22.8&nbsp;million of cash compared to a contribution of $5.8&nbsp;million in the corresponding period in&nbsp;2007. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Investing Activities  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities totalled $346.1&nbsp;million and $52.7&nbsp;million in the first quarter of 2008 and 2007, respectively. These funds
were used for the Company's capital projects, whereby $190.5&nbsp;million was spent in the first quarter of 2008 compared to $69.7&nbsp;million in the same period in 2007. The following provides a
breakdown of capital expenditures: </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Capital expenditures  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=10 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Change</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>% Change<SUP>(a)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Operating segments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=2>Fort Knox</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>16.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>98%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=2>Round Mountain</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>8.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>9.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(1.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(14%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=2>Paracatu</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>103.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>20.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>83.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>414%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=2>La Coipa</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>3.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>533%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=2>Maricunga</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>5.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>145%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=2>Crixas</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>3.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>84%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=2>Julietta</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>1.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>233%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=2>Kettle River</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>7.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(7%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=2>Kupol</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>38.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>9.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>29.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>293%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=2>Porcupine Joint Venture</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>5.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(5.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>nm</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=2>Musselwhite</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(2.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>nm</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=2>Other operations</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>nm</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Corporate and other</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>1.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>200%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>190.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>69.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>120.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>173%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(a)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>nm refers to not meaningful.  </I></FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>26</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=14,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=1036001,FOLIO='26',FILE='DISK133:[08ZBQ1.08ZBQ71301]DG71301A.;27',USER='CMACGOW',CD='14-MAY-2008;14:15' -->
<A NAME="page_dg71301_1_27"> </A>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The majority of the spending on investing activities was at Paracatu, Fort Knox and Round Mountain, where expansion projects are underway, the
Kupol project, and at Kettle River, related to the development of the Buckhorn&nbsp;mine. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Financing Activities  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash flow received from financing activities in the first quarter of 2008 was $453.2&nbsp;million as compared to $29.6&nbsp;million in the first quarter
of 2007. Cash flow of $28.4&nbsp;million was provided by the issuance of shares due to the exercise of options and warrants as well as a net increase in debt of $456.6&nbsp;million, primarily the
Senior Convertible Notes issued in January&nbsp;2008. During the first quarter of 2008, $7.0&nbsp;million was used to settle derivative instruments acquired in the Bema acquisition and
$24.8&nbsp;million was used to pay a dividend on the common shares of the Company and on the convertible preferred shares of a subsidiary company. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Balance Sheet  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="72%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>As at:</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="72%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>(in&nbsp;millions)<BR></FONT>
<BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=2>Cash and cash equivalents and short-term investments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>889.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>561.2</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=2>Current assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>1,250.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>933.7</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=2>Total assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>7,177.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6,729.3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=2>Current liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>452.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>407.4</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=2>Total debt, including current portion<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>957.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>574.2</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=2>Total liabilities<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>2,320.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1,891.5</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=2>Shareholders' equity</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>4,857.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4,837.8</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=2>Statistics</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=2>Working capital</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>797.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>526.3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=2>Working capital ratio<SUP>(c)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>2.76:1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.29:1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(a)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Includes long-term debt and preferred shares.  </I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(b)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Includes preferred shares and non-controlling interest.
</I></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(c)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I> Current assets divided by current liabilities.  </I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the first quarter of 2008, cash and short-term investments increased $328.3&nbsp;million to $899.5&nbsp;million, with cash flow from
operating activities contributing $76.3&nbsp;million and cash from financing activities contributing $453.2&nbsp;million. This was reduced by investing activities that used $346.1&nbsp;million
in cash. The Company's net debt position, consisting of cash and cash equivalents, plus short-term investments, less long-term debt and preferred shares went from a net debt position at
December&nbsp;31, 2007 of $13.0&nbsp;million to a net debt position at March&nbsp;31, 2008 of $67.7&nbsp;million. The increase in debt is the result of the issuance of Senior Convertible Notes
that was completed in January&nbsp;2008. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
working capital increased $271.5&nbsp;million to $797.8&nbsp;million in the first quarter of 2008 primarily due to increases in cash and cash equivalents and short-term
investments balances. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of May&nbsp;12, 2008, there were 615,051,071&nbsp;million common shares of the Company issued and outstanding. In addition, at the same date, the Company had
4,449,358&nbsp;million share purchase options outstanding under its share option plan and 19,815,900&nbsp;million common share purchase warrants outstanding (convertible to
8,812,131&nbsp;million Kinross shares). </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Credit Facilities  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinross has utilized $147.0&nbsp;million of the $300.0&nbsp;million corporate revolving credit facility, in support of letters of credit. This compares to a
utilization of $171.5&nbsp;million as at March&nbsp;31, 2007. In the first quarter of 2008, no additional letters of credit were issued. Since December&nbsp;31, 2007 $17.0&nbsp;million was
repaid against the $200.0&nbsp;million term loan facility, decreasing the balance outstanding to $183.0&nbsp;million. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>27</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=15,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=734279,FOLIO='27',FILE='DISK133:[08ZBQ1.08ZBQ71301]DG71301A.;27',USER='CMACGOW',CD='14-MAY-2008;14:15' -->
<A NAME="page_dg71301_1_28"> </A>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
financing in place to fund the Kupol project consists of a project loan ("Project Loan") facility of $400.0&nbsp;million and a $25.0&nbsp;million subordinated loan
("IFC&nbsp;Loan"), plus a cost overrun facility of $17.5&nbsp;million. The debt obligations were included with Kinross' balances as a result of the acquisition of Bema in February&nbsp;2007. As
at March&nbsp;31, 2008, $330.0&nbsp;million had been drawn against the Project Loan, $19.8&nbsp;million against the IFC Loan and $nil against the overrun facility. For details as to the terms
and conditions of these credit facilities, refer to Note&nbsp;7, Long-term debt and credit facilities in the interim financial statements for the quarter ended
March&nbsp;31,&nbsp;2008. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Liquidity Outlook  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures for the full year are expected to be $752&nbsp;million. Reclamation and remediation spending for the full year is forecast to be
approximately $13&nbsp;million. Exploration and business development expenditures are expected to be approximately $60&nbsp;million for the full&nbsp;year. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
is anticipated that the Company's existing cash balances, which includes the proceeds from the issuance of Senior Convertible Notes in January 2008, cash flow from operations and
existing credit facilities will be sufficient to fund the exploration, capital and reclamation programs planned for&nbsp;2008. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Contractual Obligations and Commitments  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company manages its exposure to fluctuations in input commodity prices, currency exchange rates and interest rates, by entering into derivative financial
instruments from time to time, in accordance with the Company's risk management policy. The Company also assumed gold and silver derivative financial instruments as required under the terms of the
Kupol project financing and other contracts that were acquired with the acquisition of&nbsp;Bema. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
at March&nbsp;31, 2008, the Company had gold and silver forward contracts to deliver 876,400&nbsp;ounces of gold and 10,800,000&nbsp;ounces of silver, call options sold of
18,300&nbsp;ounces of gold and put options purchased of 21,500&nbsp;ounces of gold. These contract dates range from 2008 through 2012, at prices ranging from $390 per ounce to $925 per ounce for
gold and $8.20 to $13.50 for&nbsp;silver. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
at March&nbsp;31, 2008 Kinross had contracts to sell $80.0&nbsp;million and $10.0&nbsp;million U.S.&nbsp;dollars for Brazilian reais during the balance of 2008 at exchange
rates of 2.1000 and 2.1100, respectively. The Company also had contracts to sell $92.5&nbsp;million U.S.&nbsp;dollars for Russian roubles through to December&nbsp;2009 at rates of 23.72 to
23.74. Forward contracts were also in place at March&nbsp;31, 2008 to purchase 16,000&nbsp;barrels of diesel fuel at a price of $84.90 per barrel. Acquired with the acquisition of Bema is an
interest rate swap whereby the Company will pay a fixed rate of 4.4975% and receive a floating interest rate on a principal amount that varies from $4.2&nbsp;million to $140.0&nbsp;million, and an
interest rate cap and floor whereby the Company will pay a maximum rate of 6.37% and a minimum of 4.75% on a principal amount that varies from $3.7&nbsp;million to $70&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the first quarter of 2008, the Company entered into an interest rate swap in order to fix the interest rates on 50% of the term loan for Paracatu. Under the contract, Rio Paracatu
Minera&ccedil;&atilde;o, a wholly-owned subsidiary of the Company, will pay a rate of 3.83% and receive LIBOR plus&nbsp;1%. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Fair value of derivative instruments  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="68%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>(in&nbsp;millions)<BR></FONT>
<BR>
<BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>As at March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>As at December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=2>Interest rate swap</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(8.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(3.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=2>Foreign currency forward contracts</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>15.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>24.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=2>Gold and silver forward contracts</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(370.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(278.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=2>Gold and silver call options sold</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(10.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(13.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=2>Silver lease rate swap</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>2.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=2>Energy forward contract</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(371.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(267.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>28</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=16,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=385437,FOLIO='28',FILE='DISK133:[08ZBQ1.08ZBQ71301]DG71301A.;27',USER='CMACGOW',CD='14-MAY-2008;14:15' -->
<A NAME="page_dg71301_1_29"> </A>

<P style="font-family:;"><FONT SIZE=2><B>Other legal matters  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is from time to time involved in legal proceedings, arising in the ordinary course of its business. Typically, the amount of ultimate liability with
respect to these actions will not, in the opinion of management, materially affect Kinross' financial position, results of operations or cash&nbsp;flows. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disclosure Controls and Procedures and Internal Controls Over Financial Reporting  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to regulations adopted by the U.S.&nbsp;Securities and Exchange Commission, under the Sarbanes-Oxley Act of 2002 and those of the Canadian Securities
Administrators, Kinross' management evaluates the effectiveness of the design and operation of the Company's disclosure controls and procedures, and internal controls over financial reporting. This
evaluation is done under the supervision of, and with the participation of, the President and Chief Executive Officer and the Chief Financial Officer. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of the end of the period covered by this MD&amp;A and accompanying unaudited financial statements, Kinross' management evaluated the effectiveness of its disclosure controls. Based on
that evaluation, the President and Chief Executive Officer and the Chief Financial Officer have concluded that Kinross' disclosure controls and procedures and internal controls over financial
reporting, provide reasonable assurance that they were effective. There have not been any significant changes in internal controls during the first quarter of&nbsp;2008. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Critical Accounting Policies and Estimates  </B></FONT></P>


<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The preparation of the Company's consolidated financial statements in accordance with Canadian Generally Accepted Accounting Principles requires management to
make estimates and assumptions that affect amounts reported in the consolidated financial statements and accompanying notes. There is a full discussion and description of the Company's critical
accounting policies in the 2007 Annual&nbsp;MD&amp;A. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recent Pronouncements and Accounting Changes  </B></FONT></P>


<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For a discussion of recent pronouncements and accounting changes please refer to Note&nbsp;2 of the accompanying interim consolidated financial statements for
the period ended March&nbsp;31,&nbsp;2008. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>10.&nbsp;&nbsp;Risk Analysis  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The operations of Kinross are high-risk due to the nature of the operation, exploration, and development of mineral properties. For a discussion of
risk factors and additional information please refer to the Company's 2007 Annual MD&amp;A, the 2007 Annual Information Form and other filings, which are available on the Company's web site </FONT> <FONT SIZE=2><I>www.kinross.com</I></FONT><FONT
SIZE=2> and on </FONT><FONT SIZE=2><I>www.sedar.com</I></FONT><FONT SIZE=2> or upon request from the&nbsp;Company. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>11.&nbsp;&nbsp;Summary of Quarterly Results  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="25%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" ROWSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=11 ROWSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" ROWSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=8 ROWSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2006</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="25%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" ROWSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008<BR>
Q1</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="25%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>(in&nbsp;millions, except per share amounts)</FONT><BR>
<BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Q4</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Q3</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Q2</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Q1</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Q4</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Q3</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Q2</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=2>Metal sales</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>330.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>281.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>275.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>290.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>245.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>231.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>223.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>252.3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=2>Net earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>70.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>173.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>39.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>53.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>68.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>41.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>50.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>65.6</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=2>Basic earnings per share</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.12</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.29</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.07</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.09</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.16</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.11</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.14</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.19</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=2>Diluted earnings per share</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.11</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.28</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.07</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.09</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.15</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.11</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.14</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.19</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=2>Cash flow provided from operating activities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>76.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>72.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>83.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>94.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>90.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>91.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>85.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>94.9</FONT></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=2><B><I>Cautionary Statement on Forward-Looking Information  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All statements, other than statements of historical fact, contained or incorporated by reference in this MD&amp;A, including any information as to the future
financial or operating performance of Kinross, constitute "forward-looking statements" within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and the
provisions for "safe harbour" under the United&nbsp;States Private Securities Litigation Reform Act of 1995, and are based on expectations, estimates and projections as of the date of this MD&amp;A.
Forward-looking statements include, without </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>29</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<BR>

<P style="font-family:;"><FONT SIZE=2>limitation,
possible events, statements with respect to possible events, the future price of gold and silver, the estimation of mineral reserves and resources, the realization of mineral reserve and
resource estimates, the timing and amount of estimated future production, costs of production, expected capital expenditures, costs and timing of the development of new deposits, success of
exploration, development and mining activities, permitting time lines, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks,
unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. The words "plans," "expects," or "does not expect," "is expected," "budget," "scheduled,"
"estimates," "forecasts," "intends," "anticipates," or "does not anticipate," or "believes," or variations of such words and phrases or statements that certain actions, events or results "may,"
"could," "would," "might," or "will be taken," "occur" or "be achieved" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and
contingencies. The estimates and assumptions of Kinross, contained or incorporated by reference in this MD&amp;A, which may prove to be incorrect, include, but are not limited to, the various assumptions
set forth herein and in our Annual Information Form as well as: (1)&nbsp;there being no significant disruptions affecting operations, whether due to labour disruptions, supply disruptions, power
disruption, damage to equipment or otherwise; (2)&nbsp;permitting, development, expansion and power supply at Paracatu proceeding on a basis consistent with our current expectations;
(3)&nbsp;permitting and development at the Kettle River&nbsp;&#151;&nbsp;Buckhorn project proceeding on a basis consistent with Kinross' current expectations;
(4)&nbsp;development of the Phase&nbsp;VII pit expansion and heap leach project at Fort Knox proceeding on a basis consistent with Kinross' current expectations; (5)&nbsp;permitting and
development of the Kupol gold and silver project proceeding on a basis consistent with Kinross' current expectations; (6)&nbsp;the new feasibility study to be prepared by the joint venture for Cerro
Casale, incorporating updated geological, mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors, being consistent with Kinross' current expectations;
(7)&nbsp;that the exchange rate between the Canadian dollar, Brazilian real, Chilean peso, Russian Rouble and the U.S.&nbsp;dollar will be approximately consistent with current levels;
(8)&nbsp;certain price assumptions for gold and silver; (9)&nbsp;prices for natural gas, fuel oil, electricity and other key supplies remaining consistent with current levels;
(10)&nbsp;production forecasts meet expectations; (11)&nbsp;the accuracy of our current mineral reserve and mineral resource estimates and (12)&nbsp;labour and materials costs increasing on a
basis consistent with Kinross' current expectations. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors
include, but are not limited to: fluctuations in the currency markets; fluctuations in the spot and forward price of gold or silver or certain other commodities (such as diesel fuel and electricity);
changes in interest rates or gold or silver lease rates that could impact the mark-to-market value of outstanding derivative instruments and ongoing payments/receipts under any
interest rate swaps and variable rate debt obligations; risks arising from holding derivative instruments (such as credit risk, market liquidity risk and mark-to-market risk);
changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada, the United&nbsp;States, Chile, Brazil, the Russian Federation
or other countries in which we do or may carry on business in the future; business opportunities that may be presented to, or pursued by, us; our ability to successfully integrate acquisitions,
operating or technical difficulties in connection with mining or development activities; employee relations; the speculative nature of gold exploration and development, including the risks of
obtaining necessary licenses and permits; diminishing quantities or grades of reserves; adverse changes in our credit rating; and contests over title to properties, particularly title to undeveloped
properties. In addition,
there are risks and hazards associated with the business of gold exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations,
pressures, cave-ins, flooding and gold bullion losses (and&nbsp;the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and
contingencies can affect Kinross' actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of,
Kinross. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All
of the forward-looking statements made in this MD&amp;A are qualified by these cautionary statements, those in the "Risk Analysis" section hereof, and in the "Risk Factors" section of our most recent
Annual Information Form and other filings with the securities regulators of Canada and the United&nbsp;States. These factors are not intended to represent a complete list of the factors that could
affect Kinross. Accordingly, undue reliance should not be placed on forward-looking statements. Kinross disclaims any intention or obligation to update or revise any forward-looking statements whether
as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by
applicable&nbsp;law. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
technical information about the Company's material mineral properties contained in this MD&amp;A has been prepared under the supervision of Mr.&nbsp;Rob Henderson an officer of the
Company who is a "qualified person" within the meaning of National Instrument&nbsp;43-101. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>30</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
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<BR></FONT><FONT SIZE=2><B>KINROSS GOLD CORPORATION    <BR>    <BR>    CONSOLIDATED BALANCE SHEETS    <BR>    <BR>    (expressed in millions of United States dollars, except share amounts)    <BR>    </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=3 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>As at</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=3 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31,<BR>
2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31,<BR>
2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=3 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B><I>(unaudited)</I></B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Assets</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Current assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Cash and cash equivalents</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>732.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>551.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Restricted cash</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>2.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Short-term investments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>156.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>9.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Accounts receivable and other assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>102.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>95.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Inventories</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>240.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>242.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Unrealized fair value of derivative assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>14.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>24.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Current assets held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>1,250.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>933.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Property, plant and equipment</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>3,485.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3,476.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Goodwill</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>2,176.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2,014.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Long-term investments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>108.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>127.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Future income and mining taxes</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>8.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>33.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Unrealized fair value of derivative assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>3.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Deferred charges and other long-term assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>145.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>136.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Long-term assets held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>7,177.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6,729.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=2><B>Liabilities</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Current liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Accounts payable and accrued liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>278.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>290.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Current portion of long-term debt</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>110.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>76.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Current portion of reclamation and remediation obligations</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>9.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>10.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Current portion of unrealized fair value of derivative liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>54.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>29.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=2>Current liabilities of the assets held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>452.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>407.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Long-term debt</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>836.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>488.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Reclamation and&nbsp;remediation obligations</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>226.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>212.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Unrealized fair value of derivative liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>335.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>266.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Future income and mining taxes</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>417.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>465.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Other long-term liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>28.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>20.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Long-term liabilities of the assets held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>2,296.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1,867.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Non-controlling interest</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>14.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>14.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Convertible preferred shares of subsidiary company</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>10.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>10.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=2><B>Common shareholders' equity</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Common share capital and common share purchase warrants</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>5,241.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>5,123.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Contributed surplus</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>57.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>65.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Accumulated deficit</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(195.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(253.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Accumulated other comprehensive income</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(245.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(98.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>4,857.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4,837.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Commitments and contingencies</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Note&nbsp;12</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>7,177.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6,729.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=2><B>Common shares</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Authorized</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>Unlimited</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>Unlimited</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Issued and outstanding</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>614,868,569</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>611,925,266</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><I>The accompanying notes are an integral part of these consolidated financial statements</I></FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-1</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=19,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=1000483,FOLIO='F-1',FILE='DISK133:[08ZBQ1.08ZBQ71301]FC71301A.;4',USER='CMACGOW',CD='13-MAY-2008;18:35' -->
<A NAME="page_fc71301_1_2"> </A>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="fc71301_kinross_gold_corporation_conso__kin06316"> </A>
<A NAME="toc_fc71301_2"> </A>
<BR></FONT><FONT SIZE=2><B>KINROSS GOLD CORPORATION    <BR>    <BR>    CONSOLIDATED STATEMENTS OF OPERATIONS    <BR>    <BR>    Unaudited (expressed in millions of United States dollars, except per share and share amounts)    <BR>    </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>Three months ended<BR>
March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Revenue</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Metal sales</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>330.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>245.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=2><B>Operating costs and expenses</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Cost of sales (excludes accretion, depreciation, depletion and amortization)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>168.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>124.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Accretion and reclamation expense</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>4.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Depreciation, depletion and amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>37.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>30.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>119.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>88.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Other operating costs</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>3.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Exploration and business development</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>11.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>General and administrative</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>23.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>14.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Operating earnings</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>81.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>59.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Other income (expense)&nbsp;&#151;&nbsp;net</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>Note&nbsp;4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>19.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>29.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Earnings before taxes and other items</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>101.7</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>88.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Income and mining taxes</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(24.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(19.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Equity in losses of associated companies</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(5.7</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Non-controlling interest</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Dividends on convertible preferred shares of subsidiary</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(0.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Net earnings</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>70.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>68.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=2><B>Earnings per share</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Basic</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.12</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.16</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Diluted</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.11</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.15</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Weighted average number of common shares outstanding </B></FONT><FONT SIZE=2>(millions)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>Note&nbsp;10</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Basic</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>613.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>440.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=2>Diluted</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>619.1</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>445.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><I>The accompanying notes are an integral part of these consolidated financial statements</I></FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-2</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=20,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=637984,FOLIO='F-2',FILE='DISK133:[08ZBQ1.08ZBQ71301]FC71301B.;8',USER='CMACGOW',CD='13-MAY-2008;18:35' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="page_fe71301_1_3"> </A>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


 </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="fe71301_kinross_gold_corporation_conso__kin04895"> </A>
<A NAME="toc_fe71301_1"> </A>
<BR></FONT><FONT SIZE=2><B>KINROSS GOLD CORPORATION    <BR>    <BR>    CONSOLIDATED STATEMENTS OF CASH FLOWS    <BR>    <BR>    Unaudited (expressed in millions of United States dollars)    <BR>    </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=3 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=3 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Net inflow (outflow) of cash related to the following activities:</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=2><B>Operating:</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>Net earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>70.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>68.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>Adjustments to reconcile net earnings to net cash provided from (used&nbsp;in) operating&nbsp;activities:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Depreciation, depletion and amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>37.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>30.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Accretion and reclamation expenses</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>4.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Amortization of convertible debt</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>2.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Gain on disposal of assets and investments&nbsp;&#151;&nbsp;net</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(11.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(6.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Equity in losses of associated companies</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>5.7</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Realized non-hedge derivative losses&nbsp;&#151;&nbsp;net</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>1.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Unrealized non-hedge derivative losses&nbsp;&#151;&nbsp;net</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(23.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(26.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Future income and mining taxes</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>8.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Non-controlling interest</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Stock-based compensation expense</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>5.1</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Unrealized foreign exchange losses and other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(1.7</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Changes in operating assets and liabilities:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=2>Accounts receivable and other assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(12.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=2>Inventories</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(2.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(2.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=2>Accounts payable and other liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(8.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Cash flow provided from operating activities</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>76.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>90.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=2><B>Investing:</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Additions to property, plant and equipment</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(190.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(69.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Business acquisitions&nbsp;&#151;&nbsp;net of cash acquired</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Proceeds from the sale of long-term investments and other assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Additions to long-term investments and other assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(27.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Proceeds from the sale of property, plant and equipment</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>15.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Additions to short-term investments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(146.7</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>3.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>14.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Cash flow used in investing activities</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(346.1</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(52.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=2><B>Financing:</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Cash from exercise of options and warrants</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>28.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>24.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Proceeds from issuance of debt</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>29.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>15.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Proceeds from issuance of convertible debt</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>449.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Debt issuance costs</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(1.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Repayment of debt</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(21.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(3.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Dividends paid</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(24.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Settlement of derivative instruments acquired in Bema acquisition</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(7.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(5.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Cash flow provided from financing activities</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>453.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>29.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Effect of exchange rate changes on cash</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(1.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Increase in cash and cash equivalents</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>181.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>67.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Cash and cash equivalents, beginning of period</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>551.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>154.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Cash and cash equivalents, end of period</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>732.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>221.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><I>The accompanying notes are an integral part of these consolidated financial statements</I></FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-3</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=21,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=28508,FOLIO='F-3',FILE='DISK133:[08ZBQ1.08ZBQ71301]FE71301A.;6',USER='FALVARE',CD='14-MAY-2008;10:55' -->
<A NAME="page_fe71301_1_4"> </A>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="fe71301_kinross_gold_corporation_conso__kin05327"> </A>
<A NAME="toc_fe71301_2"> </A>
<BR></FONT><FONT SIZE=2><B>KINROSS GOLD CORPORATION    <BR>    <BR>    CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY    <BR>    <BR>    Unaudited (expressed in millions of United States dollars)    <BR>    </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=3 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="5%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=3 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="5%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Common share capital and common share purchase warrants</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Balance beginning of period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>5,123.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2,001.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Equity portion of convertible notes</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>76.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Shares issued on acquisition of Bema</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2,642.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Warrants issued on acquisition of Bema</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>141.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Equity portion of convertible notes acquired on acquisition of Bema</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>23.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Common shares issued for stock-based awards</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>0.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>0.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Transfer from contributed surplus on exercise of options and restricted&nbsp;shares</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>11.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>14.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Cash proceeds on options and warrants exercised</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>28.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>24.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Conversion of convertible notes</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>36.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Balance at the end of the period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>5,241.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4,885.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=2><B>Contributed surplus</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Balance beginning of year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>65.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>54.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Stock-based compensation</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>4.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Options issued on acquisition of Bema</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>37.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Transfer of fair value of exercised options and restricted shares</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(11.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(14.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Balance at the end of the period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>57.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>80.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=2><B>Accumulated deficit</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Balance beginning of year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(253.1</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(587.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Adoption of new accounting policy</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>Note&nbsp;2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>11.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Dividends paid</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(24.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Net earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>70.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>68.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Balance at the end of the period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(195.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(518.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=2><B>Accumulated other comprehensive income (loss)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Balance beginning of year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(98.1</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>18.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=2>Other comprehensive income (loss)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(147.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>18.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Balance at the end of the period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(245.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>37.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>Total accumulated deficit and accumulated other comprehensive income (loss)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(441.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(481.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2><B>Total common shareholders' equity</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>4,857.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4,484.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="fe71301_consolidated_statements_of_com__con04421"> </A>
<A NAME="toc_fe71301_3"> </A>
<BR></FONT><FONT SIZE=2><B>CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)<BR>  <BR>    Unaudited (expressed in millions of United States dollars)    <BR>    </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="5%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="5%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Net earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>70.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>68.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>Other comprehensive income (loss), net of tax:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>Note&nbsp;5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=2>Change in fair value of investments<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(13.1</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>14.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=2>Change in fair value of derivative financial instruments designated as cash flow&nbsp;hedges<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(120.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=2>Accumulated OCI related to derivatives settled<SUP>(c)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(11.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=2>Accumulated currency translation adjustment on investments previously accounted for by the equity method<SUP>(d)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(1.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=2>Currency translation adjustment on equity investments<SUP>(d)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(1.7</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>(0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=2>Other comprehensive income (loss)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(147.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>18.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>Total comprehensive income (loss)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>(76.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>87.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Net
of tax of $1.7&nbsp;million (2007&nbsp;&#151;&nbsp;$nil) </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Net
of tax of $0.4&nbsp;million (2007&nbsp;&#151;&nbsp;$1.3&nbsp;million) </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Net
of tax recovery of $1.3&nbsp;million (2007&nbsp;&#151;&nbsp;$nil) </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(d)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Net
of tax of $nil (2007&nbsp;&#151;&nbsp;$nil) </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><I>The accompanying notes are an integral part of these consolidated financial statements</I></FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-4</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="page_fg71301_1_5"> </A>


<!-- COMMAND=ADD_BASECOLOR,"Black" -->




<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


 </FONT> <FONT SIZE=2><B>KINROSS GOLD CORPORATION  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B> NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B> For the three months ended March&nbsp;31,<BR>
(in millions of United&nbsp;States dollars)  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B> 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS  </B></FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=1>Kinross
Gold Corporation (individually and collectively with its subsidiaries, as applicable, "Kinross" or the "Company") are engaged in gold mining and related activities, including exploration and
acquisition of gold-bearing properties, extraction, processing and reclamation. Kinross' gold production and exploration activities are carried out principally in the United&nbsp;States,
the Russian Federation, Brazil, and Chile. There was also gold production in Canada, up until December&nbsp;21, 2007 when the Porcupine Joint Venture ("PJV") and Musselwhite Joint Venture
("Musselwhite") were sold to Goldcorp&nbsp;Inc. ("Goldcorp") in an asset swap transaction. Gold is produced in the form of dor&eacute;, which is shipped to refineries for final processing.
Kinross also produces and sells various amounts of&nbsp;silver. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
operating cash flow and profitability of the Company are affected by various factors, including the amount of gold and silver produced and sold, the market prices of gold and silver, operating
costs, interest rates, environmental costs and the level of exploration activity and other discretionary costs and activities. Kinross is also exposed to fluctuations in currency exchange rates,
interest rates, political risk and varying levels of taxation. Kinross seeks to manage the risks associated with its business, however, many of the factors affecting these risks are beyond the
Company's control. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
unaudited consolidated financial statements (the&nbsp;"financial statements") of the Company have been prepared in accordance with the accounting principles and methods of application disclosed
in the consolidated financial statements for the year ended December&nbsp;31, 2007 except as noted in Note&nbsp;2,&nbsp;below. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
accompanying unaudited interim consolidated financial statements include all adjustments that are, in the opinion of management, necessary for a fair presentation. The financial statements do not
include disclosures required by Canadian Generally Accepted Accounting Principles ("CDN&nbsp;GAAP") for annual consolidated financial statements and accordingly the financial statements should be
read in conjunction with the Company's audited financial statements for the year ended December&nbsp;31,&nbsp;2007. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Certain
comparative figures for 2007 have been reclassified to conform to the 2008 financial statement presentation. </FONT></P>

</UL>

<P style="font-family:;"><FONT SIZE=1><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACCOUNTING CHANGES AND RECENT PRONOUNCEMENTS  </B></FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=1><B> Accounting changes:  </B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(i)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>In
February&nbsp;2007, the CICA issued Section&nbsp;1535, "Capital Disclosures" which is effective for fiscal years beginning on or after October&nbsp;1, 2007.
This standard requires disclosure of information that enables users of its financial statements to evaluate the entity's objectives, policies and processes for managing capital. The Company adopted
this standard commencing in the 2008 fiscal year. See Note&nbsp;9 for additional details.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(ii)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>In
February&nbsp;2007, the CICA issued Section&nbsp;3862 "Financial Instruments&nbsp;&#151;&nbsp;Disclosure" ("Section&nbsp;3862") and
Section&nbsp;3863 "Financial Instruments&nbsp;&#151;&nbsp;Presentation" ("Section&nbsp;3863"), which are effective for fiscal years beginning on or after October&nbsp;1,
2007. The objective of Section&nbsp;3862 is to provide financial statement disclosure to enable users to evaluate the significance of financial instruments for the Company's financial position and
performance and the nature and extent of risks arising from financial instruments that the Company is exposed to during the reporting period and at the balance sheet date and how the Company is
managing those risks. The purpose of Section&nbsp;3863 is to enhance the financial statement user's understanding of the significance of financial instruments to the Company's financial position,
performance and cash flows. The Company adopted this standard in the 2008 fiscal year. See Note&nbsp;6 for additional details.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(iii)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>In
May&nbsp;2007, the CICA issued Section&nbsp;3031 "Inventories" ("Section&nbsp;3031") that supersedes Handbook Section&nbsp;3030 to&nbsp;converge Canadian
standards with IAS&nbsp;2, Inventories. This standard requires that: inventories be measured at the lower of cost and net realizable value; the allocation of overhead based on normal capacity; the
use of the specific cost method for inventories that are not normally interchangeable or goods and services produced for specific purposes; the use of a consistent cost formula for inventory of a
similar nature and use; and the reversal of previous write-downs of inventory to net realizable value, when there is a subsequent increase in the value of inventories. Disclosure requirements will
include the Company's policies, carrying amounts, amounts recognized as an expense, write-downs and subsequent reversal of write-downs. The Company adopted this standard commencing in the 2008 fiscal
year and upon adoption, the opening accumulated deficit decreased by $11.0&nbsp;million, net of tax primarily due to an adjustment of the carrying value of certain long-term stockpiles
to cost as at January&nbsp;1,&nbsp;2008. </FONT></DD></DL>
</UL>
<BR>
<UL>

<P style="font-family:;"><FONT SIZE=1><B> Recent pronouncements:  </B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(i)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>In
February&nbsp;2008, the CICA issued Section&nbsp;3064, "Goodwill and&nbsp;Intangible Assets" ("Section&nbsp;3064") which is effective for the Company on
January&nbsp;1, 2009. Section&nbsp;3064 establishes standards for the recognition, measurement, presentation and disclosure of goodwill and intangible assets by profit-oriented enterprises. The
Company is currently evaluating the impact of this&nbsp;standard. </FONT></DD></DL>
</UL>
<BR>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-5</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_fg71301_1_6"> </A>
<UL>
<UL>
</UL>
</UL>

<P style="font-family:;"><FONT SIZE=1><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACQUISITIONS AND DIVESTITURES  </B></FONT></P>

<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(i)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I><U>Disposition of Kubaka</U></I></FONT></DD></DL>
</UL>
<UL>
<UL>

<P style="font-family:;"><FONT SIZE=1>On
January&nbsp;25, 2008, Kinam Magadan Gold Corporation, a wholly-owned subsidiary of the Company, completed the sale of its shares in OAO Omolon Gold Mining Company ("Omolon"), owner of the Kubaka
mine properties, to OAO Polymetal. The shares, which represented approximately a 98.1% interest in Omolon, were sold for a purchase price of $15.0&nbsp;million, plus a variable royalty on future
production from the Kubaka gold mine properties. This transaction resulted in a gain of $11.5&nbsp;million, which was realized in the financial statements during the period ended
March&nbsp;31,&nbsp;2008. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(ii)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I><U>Louisiana Land and Exploration Royalty</U></I></FONT></DD></DL>
</UL>
<UL>
<UL>

<P style="font-family:;"><FONT SIZE=1>On
January&nbsp;23, 2008, the Company purchased the Louisiana Land and Exploration Company Royalty ("LL&amp;E Royalty") on Round Mountain from ConocoPhillips for a purchase price of
$26.5&nbsp;million. The royalty rate is equal to 3% of gross proceeds from Round Mountain up until $75.0&nbsp;million
is paid and 1.5% thereafter. To date, cumulative royalty payments total $60.0&nbsp;million. On January&nbsp;31, 2008, pursuant to the terms of the Round Mountain joint venture agreement, the
Company offered Barrick the opportunity to purchase 50% of the royalty, on a pro&nbsp;rata basis with Barrick's joint venture interest. On February&nbsp;11, 2008, Barrick accepted the offer. This
transaction is expected to close in the second quarter of&nbsp;2008. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(iii)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I><U>Hammond Reef</U></I></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=1>Kinross
holds a 100% registered interest and a 40% beneficial interest in certain mining claims in Northern Ontario known as the Hammond Reef Project ("HRP"). Pursuant to an Option Agreement dated
March&nbsp;21, 2006, between Kinross and Brett Resources&nbsp;Inc. ("Brett"), Brett acquired an option to earn a 60% interest in the HRP (the&nbsp;"Option") in exchange for incurring
expenditures totaling $5.0&nbsp;million on the properties and issuing 1,000,000&nbsp;common shares in Brett to Kinross. On March&nbsp;27, 2008, Kinross and Brett entered into a letter of intent
("the&nbsp;Brett LOI") setting out the terms pursuant to which Brett would acquire a 100% interest in the HRP from Kinross. The Brett LOI provides, among other things, that following Brett's
exercise of the Option, Kinross will sell its remaining 40% interest in the HRP to Brett in exchange for 14.0&nbsp;million common shares in Brett and a 2% net smelter returns royalty. Upon
completion of the transactions contemplated by the Brett LOI, including delivery of the 14.0&nbsp;million common shares of Brett, Brett will have acquired a 100% interest in the HRP. By letter dated
April&nbsp;18, 2008, Brett exercised the Option by confirming completion of the required expenditures and delivery of the remaining 400,000&nbsp;shares due. This transaction is expected to close
in the second quarter of&nbsp;2008. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(iv)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I><U>Acquisition of Bema Gold Corporation</U></I></FONT></DD></DL>

<UL>

<P style="font-family:;"><FONT SIZE=1>On
February&nbsp;27, 2007 ("Acquisition Date"), the Company completed the acquisition of 100% of the outstanding shares of Bema Gold Corporation ("Bema"). As this purchase is a business acquisition,
with Kinross as the acquirer and Bema as the acquiree, results of operations of Bema have been consolidated with those of Kinross commencing on the Acquisition Date. As a result of the purchase, the
primary assets that Kinross has acquired are Bema's interests in the Maricunga mine (50%) in Chile, the Julietta mine (90%) in the Russian Federation, the Kupol gold and silver project (75% less one
share) in the Russian Federation and the Cerro Casale property (49%) in&nbsp;Chile. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
exchange for each Bema share, Bema shareholders received 0.4447&nbsp;Kinross shares and CDN&nbsp;$0.01. Bema options were exchanged for Kinross replacement options that entitled the holder to
acquire Kinross shares on the same basis as the exchange of Bema shares for Kinross shares. Upon exercising Bema warrants or Bema convertible notes, the holders of the warrants or notes will receive
0.4447 of a Kinross share and CDN&nbsp;$0.01, on the same basis as the exchange of Bema shares for Kinross&nbsp;shares. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Total
consideration paid of $2,888.2&nbsp;million was based on the weighted average price of Kinross shares of $12.23 two days before, the day of, and two days subsequent to the announcement date of
November&nbsp;6,&nbsp;2006. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
purchase price was calculated as follows: </FONT></P>
</UL>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="87%" style="font-family:;"><FONT SIZE=1>Common shares issued (216.0&nbsp;million)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2,642.1</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="87%" style="font-family:;"><FONT SIZE=1>Cash</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4.2</B></FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="87%" style="font-family:;"><FONT SIZE=1>Acquisition costs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>38.4</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="87%" style="font-family:;"><FONT SIZE=1>Fair value of options and warrants issued</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>179.8</B></FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="87%" style="font-family:;"><FONT SIZE=1>Fair value of equity component of convertible debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>23.7</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="87%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="87%" style="font-family:;"><FONT SIZE=1>Total purchase price</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2,888.2</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="87%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-6</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=24,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=547919,FOLIO='F-6',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301A.;14',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_7"> </A>
<UL>
<UL>

<P style="font-family:;"><FONT SIZE=1>The
following table sets forth the allocation of the purchase price to assets and liabilities acquired, based on estimates of fair&nbsp;value. </FONT></P>
</UL>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><B>Purchase price allocation<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Cash and cash equivalents</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>50.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Accounts receivable and other assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>33.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Inventories</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>37.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Property, plant and equipment (including mineral interests)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,586.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Unrealized fair value of derivative assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>11.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Long-term investments</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>91.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Other long-term assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Accounts payable and accrued liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(31.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Long-term debt, including current portion</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(336.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Reclamation and remediation obligations, including current portion</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(18.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Unrealized fair value of derivative liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(220.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Future income and mining liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(195.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Other long-term liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Non-controlling interest</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(17.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Goodwill</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,858.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Total purchase price</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2,888.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(v)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I><U>Goldcorp Asset Purchase and Sale</U></I></FONT></DD></DL>
</UL>
<UL>
<UL>

<P style="font-family:;"><FONT SIZE=1>On
December&nbsp;21, 2007, the Company closed the asset swap transaction with Goldcorp pursuant to the purchase and sale agreement entered into on September&nbsp;25, 2007, whereby the Company sold
its 31.9% interest in Musselwhite and its 49.0% interest in PJV to Goldcorp. In exchange, the Company acquired Goldcorp's 50% interest in Compania Minera Mantos de Oro ("MDO"), thereby giving the
Company a 100% interest in MDO which owns and operates the La Coipa mine in northern Chile. The Company also received a $204.3&nbsp;million cash&nbsp;payment. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>As
a result of this transaction, the acquired non-monetary assets have been recorded at fair value and a gain on the disposition of Musselwhite and PJV of $138.3&nbsp;million
was&nbsp;recorded. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
purchase price of $350.3&nbsp;million was calculated as the estimated fair value of the La Coipa mine and associated property plus cash consideration from Goldcorp of $204.3&nbsp;million,
including closing adjustments. </FONT></P>
</UL>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><B>Preliminary purchase price allocation<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Cash and cash equivalents</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>227.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Inventories</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Other net liabilites</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(39.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Property, plant and equipment (including mineral interests)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>86.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Land</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Goodwill</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>53.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Total purchase price</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>350.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CONSOLIDATED FINANCIAL STATEMENT DETAILS  </B></FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=1><B> Consolidated Balance Sheets  </B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(i)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Cash and cash equivalents</I></FONT></DD></DL>
</UL>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="62%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>Cash on hand and balances with banks</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>158.5</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69.0</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>Short-term deposits</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>574.4</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>482.3</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>732.9</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>551.3</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-7</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=25,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=476729,FOLIO='F-7',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301A.;14',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_8"> </A>
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(ii)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Accounts receivable and other assets:</I></FONT></DD></DL>
</UL>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="60%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Trade receivables</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Taxes recoverable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>63.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Prepaid expenses</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>20.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Asset held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Note&nbsp;3(i)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>102.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>95.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(iii)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Inventories:</I></FONT></DD></DL>
</UL>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="60%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Ore in stockpiles<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>71.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>56.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Ore on leach pads<SUP>(a)</SUP><SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>18.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>In-process</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Finished metal</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>32.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Materials and supplies</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>153.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>151.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>285.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>291.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Long-term portion of ore in stockpiles and ore on leach pads<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(45.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(42.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>240.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>248.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Asset held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Note&nbsp;3(i)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>240.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>242.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Ore
in stockpiles and ore on leach pads includes low-grade material not scheduled for processing within the next twelve months and is included in deferred charges and
other long-term assets on the consolidated balance sheets. See deferred charges and other long-term assets, Note&nbsp;4&nbsp;(viii). </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Ore
on leach pads at March&nbsp;31, 2008, relates to the Company's Maricunga and 50% owned Round Mountain mines. Based on current mine plans, the Company expects to place the last
tonne of ore on its leach pads at Round Mountain in 2015 and at Maricunga in&nbsp;2024. </FONT></DD></DL>
</UL>
</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-8</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=26,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=279844,FOLIO='F-8',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301A.;14',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_9"> </A>
<UL>
<UL>
</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(iv)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Property, plant and equipment:</I></FONT></DD></DL>
</UL>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Cost<SUP>(b)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Accumulated Depreciation</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Net Book Value</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Cost<SUP>(b)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Accumulated Depreciation</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Net Book Value</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><I>Property, plant and equipment<SUP>(a)</SUP></I></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Producing properties</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>Straight line depreciation basis</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>239.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(123.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>116.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>229.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(114.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>115.0</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>Units of production depreciation basis<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,270.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(379.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>891.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,373.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(636.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>737.1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,510.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(502.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,008.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,602.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(750.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>852.1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><I>Mineral Interests</I></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Producing properties</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,108.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(230.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>877.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>976.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(215.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>761.1</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Development properties<SUP>(c)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,489.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,489.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,757.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,757.5</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Exploration properties</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>109.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>109.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.6</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2,708.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(230.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2,477.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2,839.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(215.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2,624.2</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total property, plant and equipment</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4,218.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(733.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3,485.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4,442.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(966.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3,476.3</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Asset held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Note&nbsp;3(i)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(272.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>272.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total property, plant and equipment</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4,218.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(733.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3,485.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4,169.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(693.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3,476.3</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Capitalized
interest included within property, plant and equipment was $10.5&nbsp;million and $3.2&nbsp;million during the three months ended March&nbsp;31, 2008 and 2007,
respectively. Interest capitalized during the year ended March&nbsp;31, 2008 is related to capital expenditures at Fort Knox, Round Mountain, Kupol, Kettle River and Paracatu and for the three
months ended March&nbsp;31, 2007 is related to Fort Knox, Round Mountain, Paracatu and&nbsp;Kupol. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Included
in producing properties is $303.5&nbsp;million (2007&nbsp;&#151;&nbsp;$211.1&nbsp;million) related to assets that are not being depreciated. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
amount allocated to development properties relates to assets that are not being depreciated.
<BR><BR> </I></FONT></DD></DL>
</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(v)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Capitalized stripping</I></FONT></DD></DL>
</UL>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="37%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=8 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="37%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Round Mountain</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Fort Knox</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Round Mountain</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Fort Knox</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Balance, at January&nbsp;1,</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>44.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>76.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Additions</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Amortization<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(2.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(3.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(6.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(18.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(18.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Balance, end of period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>47.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>78.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Amortization
of capitalized stripping costs is done using the Units of Production ("UOP") depreciation basis based on reserves that have not yet been produced that will benefit
directly from the stripping activity. </FONT></DD></DL>
</UL>
</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-9</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=27,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=403348,FOLIO='F-9',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301A.;14',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_10"> </A>
<UL>
<UL>
</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(vi)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Goodwill:</I></FONT></DD></DL>
</UL>
<UL>
<UL>

<P style="font-family:;"><FONT SIZE=1>The
Goodwill allocated to the Company's reporting units and included in the respective operating segment assets is shown in the table&nbsp;below: </FONT></P>
</UL>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Allocation and Adjustment<SUP>(a)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Operating segments</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="53%" style="font-family:;"><FONT SIZE=1>Round Mountain</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>58.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>58.7</B></FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="53%" style="font-family:;"><FONT SIZE=1>Paracatu</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>65.5</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="53%" style="font-family:;"><FONT SIZE=1>La Coipa</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>124.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>124.4</B></FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="53%" style="font-family:;"><FONT SIZE=1>Kettle River</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>20.9</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="53%" style="font-family:;"><FONT SIZE=1>Kupol</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>827.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>827.2</B></FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="53%" style="font-family:;"><FONT SIZE=1>Maricunga</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>396.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>396.1</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="53%" style="font-family:;"><FONT SIZE=1>Crixas</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>38.0</B></FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="53%" style="font-family:;"><FONT SIZE=1>Bema acquisition<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,697.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1,697.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="53%" style="font-family:;"><FONT SIZE=1>Other operations</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>635.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>645.2</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2,014.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>161.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2,176.0</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
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<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>These
amounts reflect the final determination of goodwill on the Bema acquisition and allocation to specific acquired properties.
<BR><BR> </I></FONT></DD></DL>
</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(vii)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Long-term investments:</I></FONT></DD></DL>
</UL>
<UL>
<UL>

<P style="font-family:;"><FONT SIZE=1>Long-term
investments of $108.7&nbsp;million include $48.9&nbsp;million (December&nbsp;31, 2007&nbsp;&#151;&nbsp;$75.1&nbsp;million) of investments accounted
for using the equity method and $59.8&nbsp;million of investments classified as available-for-sale, for which associated unrealized gains or losses are recorded in Other
comprehensive income ("OCI"). During the three months ended March&nbsp;31, 2008, there was a net decrease in long-term investments of $19.0&nbsp;million. </FONT></P>
</UL>
</UL>
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<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="45%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="45%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><B>Available for sale investments</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Fair Value</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Gains (losses)<BR>
in OCI</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Fair Value</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Gains (losses)<BR>
in OCI</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Securities in an unrealized gain position</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>32.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.8</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Securities in an unrealized loss position</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>27.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(4.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>59.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.8</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
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<TABLE WIDTH="80%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="59%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="59%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><B>Investment in shares carried on an equity basis</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Carrying Value</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Market Value</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>% Ownership</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="59%" style="font-family:;"><FONT SIZE=1>Victoria Resources Corporation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>22.8</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>20.9</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>27%</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="59%" style="font-family:;"><FONT SIZE=1>Consolidated Puma Minerals Corporation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>26.1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>27.1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>35%</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="59%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="59%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>48.9</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>48.0</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="59%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-10</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=28,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=975779,FOLIO='F-10',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301A.;14',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_11"> </A>

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<TABLE WIDTH="80%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="60%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=7 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="60%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Carrying Value</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Market Value</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>% Ownership</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Victoria Resources Corporation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Pamodzi Gold Limited<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Consolidated Puma Minerals Corporation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Rolling Rock Resources Corporation<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>75.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>88.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
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<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Subsequent
to February&nbsp;27, 2008, Pamodzi Gold Limited ("Pamodzi") is now accounted for on an available-for sale basis instead of an equity basis as the Company's
interest is currently 13%, a decrease from&nbsp;28%. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Subsequent
to February&nbsp;5, 2008, Rolling Rock Resources ("Rolling Rock") is now accounted for on an available-for-sale basis instead of an equity basis
as the Company's interest is currently 19%, a decrease from&nbsp;22%
<BR><BR><BR> </I></FONT></DD></DL>
</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(viii)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Deferred charges and other long-term assets:</I></FONT></DD></DL>
</UL>

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<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="60%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Long-term ore in stockpiles and on leach pads<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>45.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Deferred charges, net of amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Long-term receivables</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>38.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Advances on the purchase of capital equipment</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>58.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Deferred acquisition costs and other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>Asset held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Note&nbsp;3(i)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>145.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>136.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Ore
in stockpiles represents low-grade material in ore in stockpiles and ore on leach pads not scheduled for processing within the next twelve months at the Company's Fort
Knox and Maricunga mines and its proportionate share of stockpiled ore at Round&nbsp;Mountain.
<BR><BR> </I></FONT></DD></DL>
</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(ix)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Accounts payable and accrued liabilities:</I></FONT></DD></DL>
</UL>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="61%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Trade payables</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>79.8</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>89.2</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Accrued liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>72.9</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>88.7</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Employee related accrued liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31.7</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.4</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Taxes payable</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>73.0</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78.0</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Other accruals</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>20.9</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.8</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>278.3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>290.1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-11</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=29,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=420181,FOLIO='F-11',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301A.;14',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_12"> </A>
<UL>

<P style="font-family:;"><FONT SIZE=1><B> Consolidated Statements of Operations  </B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(x)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Other income (expense)&nbsp;&#151;&nbsp;net:</I></FONT></DD></DL>
</UL>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="62%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="62%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>Gain on sale of assets and investments&nbsp;&#151;&nbsp;net</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Note&nbsp;4(xi)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>11.9</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>Interest income and other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8.0</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>Interest expense<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(5.0</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>Foreign exchange losses</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(17.4</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(7.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>Realized non-hedge derivative gains (losses)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(0.6</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>Unrealized non-hedge derivative gains (losses)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>23.0</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>19.9</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="62%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
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<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>During
the three months ended March&nbsp;31, 2008, $10.5&nbsp;million (2007&nbsp;&#151;&nbsp;$3.2&nbsp;million) of interest was capitalized to property,
plant and equipment. See Note&nbsp;4&nbsp;(iv).
<BR><BR> </I></FONT></DD></DL>
</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(xi)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Gain (loss) on sale of assets and investments&nbsp;&#151;&nbsp;net:</I></FONT></DD></DL>
</UL>

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<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Assets:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Kubaka mine</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>11.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Lupin mine</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>11.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.6</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
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<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(xii)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Equity in losses of associated companies:</I></FONT></DD></DL>
</UL>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="74%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="74%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Victoria Resources Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(0.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Pamodzi Gold Limited<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(4.7</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Consolidated Puma Minerals Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(0.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Rolling Rock Resources Corporation</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(5.7</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
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<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>See
Note&nbsp;4 (vii). </FONT></DD></DL>
</UL>
</UL>
<UL>

<P style="font-family:;"><FONT SIZE=1><B> Supplemental cash flow information  </B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><I>(xiii)</I></FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Interest and income taxes paid:</I></FONT></DD></DL>
</UL>

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<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="75%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="75%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Interest</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Income taxes</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.3</FONT></TD>
</TR>
</TABLE></DIV>
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-12</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=30,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=394616,FOLIO='F-12',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301B.;17',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_13"> </A>

<P style="font-family:;"><FONT SIZE=1><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)  </B></FONT></P>

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<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Accumulated other comprehensive income (loss):</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Changes in fair value of investments<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>18.6</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Accumulated OCI related to investments sold<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(15.3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1> Financial derivatives:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Changes in fair value of financial derivatives<SUP>(c)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(227.3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Accumulated OCI related to derivatives settled<SUP>(d)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(25.5</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(252.8</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Accumulated currency translation adjustment on investments previously accounted for by the equity method<SUP>(e)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1.4</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Currency translation adjustment on equity investments<SUP>(e)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5.3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.9</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Accumulated other comprehensive income (loss), end of the period</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(245.6</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Net
of tax of $3.8&nbsp;million (2007&nbsp;&#151;&nbsp;$nil) </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Net
of tax of $nil (2007&nbsp;&#151;&nbsp;$nil) </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Net
of tax of $4.5&nbsp;million (2007&nbsp;&#151;&nbsp;$1.3&nbsp;million) </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(d)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Net
of tax recovery of $3.0&nbsp;million (2007&nbsp;&#151;&nbsp;$nil) </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(e)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Net
of tax of $nil (2007&nbsp;&#151;&nbsp;$nil) </FONT></DD></DL>
</UL>

<P style="font-family:;"><FONT SIZE=1><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FINANCIAL INSTRUMENTS  </B></FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=1>The
Company manages its exposure to changes in currency exchange rates, energy and interest rates by periodically entering into derivative financial instrument contracts in accordance with the formal
risk management policy approved by the Company's Board of Directors. The Company has gold and silver derivative instruments acquired with the Bema acquisition, primarily related to Kupol financing
requirements. All of the Company's hedges are cash flow hedges. The Company will apply hedge accounting whenever hedging relationships exist and have been documented. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><U>Fair values of financial instruments</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Carrying
values for primary financial instruments, including cash and cash equivalents, short-term investments and other accounts receivable, accounts payable and accrued liabilities,
approximate fair values due to their short-term maturities. The carrying value for long-term debt other than capital leases approximates fair value primarily due to the
floating rate nature of the debt instruments. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>Fair
value estimates for derivative contracts are based on quoted market prices for comparable contracts and represent the amount the Company would have received from, or paid to, a counterparty to
unwind the contract at the market rates in effect at the balance sheet&nbsp;date. </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-13</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=31,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=309900,FOLIO='F-13',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301B.;17',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_14"> </A>
<UL>

<P style="font-family:;"><FONT SIZE=1>Fair
value of the convertible notes is based on Over-the-counter market price indicators from Bloomberg, which shows the carrying value of the bond at $503.8&nbsp;million. </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" ROWSPAN=3 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Asset/ (Liability) Acquired February&nbsp;27, 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Fair Value</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>AOCI<SUP>(c)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Fair Value</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>AOCI<SUP>(c)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Interest rate contracts</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Interest rate swap</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(8.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(6.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(8.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(6.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Currency contract</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Foreign currency forward contracts<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>15.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>15.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Commodity contracts</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Gold and silver forward contracts<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(91.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(370.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(259.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(278.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(139.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Gold and silver call options sold</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(127.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(10.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(13.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Gold and silver put options bought</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Silver lease rate swap</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Energy forward contract</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(210.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(378.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(259.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(288.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(139.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total all contracts</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(209.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(371.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(252.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(267.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(121.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Included
in the amount recorded in earnings in the quarter ended March&nbsp;31, 2008, is a net loss of $0.1&nbsp;million (March&nbsp;31,
2007&nbsp;&#151;&nbsp;net gain of $0.2&nbsp;million), that relates to the ineffective portion of foreign currency forward contracts and is recorded in other income
(expense)&nbsp;&#151;&nbsp;net. The amount recorded in accumulated other comprehensive income will be reclassified to net earnings within the next 12&nbsp;months as a result
of settling the&nbsp;contracts. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Included
in amounts recorded in earnings is a net gain of $nil relating to the ineffective portion of gold and silver forward contracts recorded in other income
(expense)&nbsp;&#151;&nbsp;net, for the quarter ended March&nbsp;31, 2008 (March&nbsp;31, 2007&nbsp;&#151;&nbsp;$nil). The amounts recorded in AOCI
will be reclassified to net earnings as the contracts settle between 2008 and&nbsp;2012. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>AOCI
refers to accumulated other comprehensive income (loss). </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=1><U>Gold and silver price risk management</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=1>From
time to time, the Company may use spot deferred contracts and fixed forward contracts to hedge against the risk of falling prices for a portion of its forecasted metal sales. The Company may sell
call options as part of its overall strategy of managing the risk of changing gold and silver prices or purchase put options to protect against the risk of falling&nbsp;prices. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
Company may also assume derivative contracts as part of a business acquisition or they may be required under financing arrangements. As a result of the acquisition of Bema in February&nbsp;2007,
the Company has assumed gold and silver forward sales contracts, call options, and put options, primarily due to requirements related to the Kupol project financing. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>The
Company's commodity price risk associated with financial instruments related to gold and silver primarily relates to changes in fair value of existing gold and silver contracts. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
following represents the financial instruments' effect on pre-tax earnings and other comprehensive income before tax due to a 10% change in gold&nbsp;and silver prices, based on March&nbsp;31,
2008 prices. The sensitivity of the Company's financial instruments to commodity price changes is comprised of the commodity contracts described in this&nbsp;note. </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-14</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=32,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=985125,FOLIO='F-14',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301B.;17',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_15"> </A>
<UL>

<P style="font-family:;"><FONT SIZE=1>Impact
of commodity price risk on financial instruments before&nbsp;tax: </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="46%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Price on March&nbsp;31, 2008</FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Change</FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Effect of gold and silver contracts on net earnings</FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Effect of gold and silver contracts on OCI</FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Gold</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>933.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>+10%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>82.4</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Silver</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.99</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>+10%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.8</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<UL>

<P style="font-family:;"><FONT SIZE=1><U>Gold and silver</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Under
the terms of the Kupol project loan facilities, the Company is required to maintain gold and silver hedge contracts over the life of the loans in order to cover a portion of the mine's future
operating and debt service costs. As a result, and as part of the acquisition of Bema in February&nbsp;2007, the Company assumed gold and silver forward and option contracts related to the Kupol
project as well as contracts relating to Julietta and&nbsp;Maricunga. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>During
the second quarter of 2007 the Company restructured the Kupol project loan facility gold and silver hedge positions. The put option positions were sold, and the short call option positions were
re-purchased. These positions were replaced with forward sales transactions with the same number of ounces as the number of put option positions&nbsp;sold. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>At
March&nbsp;31, 2008, the following gold and silver derivative contracts were outstanding: </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="5%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="25%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" ROWSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=17 ROWSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>YEAR OF SETTLEMENT</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=3 ROWSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>(ounces in thousands)<BR></FONT>
<HR NOSHADE></TH>
<TH WIDTH="2%" ROWSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ROWSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Kupol Project</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2008</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2009</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2010</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2011</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2012</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Total</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Maricunga</FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><B>Gold</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Forward contracts (ounces)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>45.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>218.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>219.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>319.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>876.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>831.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>45.3</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Average price per ounce</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>511</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>641</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>642</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>621</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>674</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>630</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="5%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1><BR>
Call options sold (ounces)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
18.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
18.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
18.3</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Average price per ounce</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>470</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>470</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="5%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1><BR>
Put options purchased (ounces)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
21.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
21.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
21.5</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Average price per ounce</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>404</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>404</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="5%" style="font-family:;"><BR><FONT SIZE=1><B> Silver</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Forward contracts (ounces)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3,600</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3,600</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3,600</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10,800</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10,800</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Average price per ounce</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.71</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.71</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.71</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.71</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
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<UL>

<P style="font-family:;"><FONT SIZE=1><U>Currency risk management</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
Company is primarily exposed to currency fluctuations relative to the U.S.&nbsp;dollar on expenditures that are denominated in Canadian dollars, Russian roubles, Chilean pesos and Brazilian
reais. This risk is reduced, from time to time, through the use of foreign currency exchange forward contracts to lock in the exchange rates on future non-U.S.&nbsp;denominated currency
cash outflows. The Company is also exposed to the impact of currency fluctuations on its monetary assets and liabilities. The Company does not actively manage this exposure. The Company has entered
into forward contracts to purchase the Brazilian real and Russian roubles as part of this risk management strategy. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Impact
of foreign currency exchange risk on net working capital </FONT></P>
</UL>
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<DIV ALIGN="CENTER"><TABLE WIDTH="80%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="55%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Canadian<BR>
dollars</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Chilean<BR>
pesos</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Brazilian<BR>
reais</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Russian<BR>
roubles</FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="55%" style="font-family:;"><FONT SIZE=1>Foreign currency net working capital in USD</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>67.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(15.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>57.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.1</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="55%" style="font-family:;"><FONT SIZE=1>Impact of a 10% strengthening of the USD on net earnings (loss)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.6</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="55%" style="font-family:;"><FONT SIZE=1>Impact of a 10% strengthening of the USD on OCI</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-15</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=11,SEQ=33,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=634824,FOLIO='F-15',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301B.;17',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_16"> </A>
<UL>

<P style="font-family:;"><FONT SIZE=1>At
March&nbsp;31, 2008, with other variables unchanged, the following represents the effect of the Company's foreign currency exchange contracts on pre-tax earnings and other comprehensive income
before tax from a 10% change in the U.S.&nbsp;dollar against the Brazilian real and Russian&nbsp;rouble. </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="80%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="65%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Effect of<BR>
foreign<BR>
exchange<BR>
contracts on<BR>
net earnings</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Effect of<BR>
foreign<BR>
exchange<BR>
contracts on<BR>
OCI</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="65%" style="font-family:;"><FONT SIZE=1>Brazilian reais</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(9.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="65%" style="font-family:;"><FONT SIZE=1>Russian roubles</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(8.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
</TABLE></DIV>
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<UL>

<P style="font-family:;"><FONT SIZE=1><U>Foreign currency</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=1>At
March&nbsp;31, 2008, Kinross had outstanding fixed foreign currency exchange forward contracts to sell $90.0&nbsp;million U.S.&nbsp;dollars, and purchase Brazilian reais during 2008, at an
average forward exchange rate of 2.10&nbsp;Brazilian reais for one U.S.&nbsp;dollar. The unrealized gain on these contracts at March&nbsp;31, 2008 was $13.8&nbsp;million (March&nbsp;31,
2007&nbsp;&#151;&nbsp;$5.6&nbsp;million). </FONT></P>

<P style="font-family:;"><FONT SIZE=1>At
March&nbsp;31, 2008, Kinross had outstanding fixed foreign currency exchange forward contracts to sell $92.5&nbsp;million U.S.&nbsp;dollars, and purchase Russian roubles during 2008 and 2009.
In 2008 Kinross has contracted to sell $52.0&nbsp;million at an average forward exchange rate of 24.0&nbsp;Russian roubles for one U.S.&nbsp;dollar. In 2009 Kinross has contracted to sell
$40.5&nbsp;million at an average forward exchange rate of 24.8&nbsp;Russian roubles for one U.S.&nbsp;dollar. The unrealized gain on these contracts at March&nbsp;31, 2008 was
$1.3&nbsp;million (March&nbsp;31,&nbsp;2007&nbsp;&#151;&nbsp;$nil). </FONT></P>

<P style="font-family:;"><FONT SIZE=1><U>Interest rate risk</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
Company is exposed to interest rate risk on its variable rate debt. As a result of the acquisition of Bema in February&nbsp;2007, the Company assumed an interest rate swap, an interest rate cap
and interest rate floor contract. During the first quarter of 2008, the Company entered into an interest rate swap for Rio Paracatu Minera&ccedil;&atilde;o ("RPM"), a 100% subsidiary
of Kinross. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>At
March&nbsp;31, 2008 with other variables unchanged, a 10% change in the interest rate curve would impact pre-tax earnings by $0.4&nbsp;million and other comprehensive income before tax by
$1.3&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><U>Interest rates</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=1>As
part of the Kupol project financing, the Company has hedged its exposure to rising interest rates by entering into an interest rate swap, and purchasing an interest rate cap, which was financed by
selling an interest rate floor. The Company has contracted to pay a fixed rate of interest of 4.4975% and receive a floating rate of interest on an interest rate swap with a notional amount that
varies from $4.2&nbsp;million up to $140.0&nbsp;million over the life of the swap. The fair market value of the interest rate swap was a liability of $5.0&nbsp;million as at March&nbsp;31,
2008 (March&nbsp;31, 2007&nbsp;&#151;&nbsp;an asset of $1.7&nbsp;million). </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
interest rate cap has an exercise strike level of 6.37%, which is the maximum interest rate that the Company will pay on the notional amount underlying the cap. The interest rate floor has an
exercise strike level of 4.75%, which is the minimum interest rate that will be paid on the notional amount. When floating U.S.&nbsp;dollar interest rates are between the cap and the floor, there is
no settlement received or paid by the
Company. The notional amount varies between $3.7&nbsp;million and $70.0&nbsp;million over the life of the loan. The fair value of the interest rate cap and floor was a liability of
$3.2&nbsp;million as at March&nbsp;31, 2008 (March&nbsp;31, 2007&nbsp;&#151;&nbsp;a liability of $0.6&nbsp;million). </FONT></P>

<P style="font-family:;"><FONT SIZE=1>During
the first quarter 2008, as part of the RPM term loan, the Company has entered into an interest rate swap to pay a fixed rate of 3.83% and receive a floating LIBOR rate plus 100&nbsp;bps on a
notional amount of $100&nbsp;million which amortizes over the life of the loan. As at March&nbsp;31, 2008 the fair market value was a liability of $0.3&nbsp;million. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><U>Silver lease rates</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=1>As
at March&nbsp;31, 2008, the Company had silver floating lease rate swaps totaling 9.0&nbsp;million ounces of silver whereby the Company pays a fixed annual rate of 2.0% and receives a floating
rate, amortizing throughout the years 2009 to 2011. There was an asset of $2.6&nbsp;million on this contract at March&nbsp;31, 2008 (March&nbsp;31, 2007&nbsp;&#151;&nbsp;a
liability of $1.1&nbsp;million) </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-16</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=12,SEQ=34,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=432015,FOLIO='F-16',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301B.;17',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_17"> </A>
<UL>

<P style="font-family:;"><FONT SIZE=1><U>Energy</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
Company is exposed to changes in crude oil prices through its consumption of diesel fuel, and the price of electricity in some electricity supply contracts. During the first quarter of 2008, the
Company entered into forward contracts that establish the price for some of the Company's diesel fuel consumption and manage the risk of fuel price increases. Diesel fuel is consumed in the operation
of mobile equipment and electricity generation. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
effect on pre-tax net earnings and comprehensive income before tax from a 10% change in Nymex Crude WTI prices from those at March&nbsp;31, 2008 is not significant. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><U>Energy forward contract</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=1>As
at March&nbsp;31, 2008, the Company had purchased oil forward of 16,000&nbsp;barrels of Nymex Crude WTI at a price of $84.90 per barrel (March&nbsp;31,
2007&nbsp;&#151;&nbsp;63,000&nbsp;Barrels at an average price of $58.36 per barrel). The unrealized gain on these contracts as at March&nbsp;31, 2008 was $0.2&nbsp;million
(March&nbsp;31, 2007&nbsp;&#151;&nbsp;$0.2&nbsp;million) </FONT></P>

<P style="font-family:;"><FONT SIZE=1><U>Liquidity Risk</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
Company manages liquidity risk by maintaining adequate cash and cash equivalent balances, and by utilizing its lines of credit. The Company's Treasury department continuously monitors and reviews
both actual and forecasted cash&nbsp;flows. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
contractual undiscounted cash flow requirements for financial liabilities at March&nbsp;31, 2008 is as&nbsp;follows: </FONT></P>
</UL>
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<TR VALIGN="BOTTOM">
<TH WIDTH="44%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Total</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Less than<BR>
2&nbsp;years</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2-3&nbsp;years</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>4-5&nbsp;years</FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>More than<BR>
5&nbsp;years</FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="44%" style="font-family:;"><FONT SIZE=1>Long-term debt (Note&nbsp;7)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,182.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>112.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>433.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>155.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>479.8</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="44%" style="font-family:;"><FONT SIZE=1>Derivative liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>397.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>209.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>142.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<UL>

<P style="font-family:;"><FONT SIZE=1><U>Credit risk management</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Credit
risk relates to accounts receivable and derivative contracts and arises from the possibility that any counterparty to an instrument fails to perform. The Company only transacts with
highly-rated counterparties and a limit on contingent exposure has been established for any counterparty based on that counterparty's credit rating. As at March&nbsp;31, 2008, the Company's maximum
exposure to credit risk was the carrying value of trade receivables and derivative assets. </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-17</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=13,SEQ=35,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=12414,FOLIO='F-17',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301B.;17',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_18"> </A>

<P style="font-family:;"><FONT SIZE=1><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LONG-TERM DEBT AND CREDIT FACILITIES  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="27%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="2%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=11 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>As at<BR>
March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>As at<BR>
December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="27%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="2%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Interest Rates</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Nominal amount</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Deferred Financing Costs<SUP>(a)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Carrying Amount</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Fair Value</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Carrying Amount</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Fair Value</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Corporate revolving credit facility</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(i</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Variable</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Debt component, convertible debenture</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(v</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.75%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>374.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>374.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>503.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Corporate term loan facility</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(i</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Variable</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>183.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(2.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>180.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>180.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>197.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>197.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Paracatu short-term loan</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(ii</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.81%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Maricunga capital leases</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(iii</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.04%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Paracatu capital leases</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(iii</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.52%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>29.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>29.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>29.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Kupol project financing</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(iv</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Variable</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>330.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>330.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>330.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>330.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>330.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Kupol IFC loan</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(iv</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Variable</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>19.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>19.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>19.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>949.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(2.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>947.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,076.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>564.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>564.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Less: current portion</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(110.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(110.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(110.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(76.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(76.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Long-term debt</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>838.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(2.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>836.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>965.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>488.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>488.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Includes
transaction costs on debt financing. </FONT></DD></DL>
</UL>
<BR>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="75%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="75%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Interest incurred</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(15.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Less amounts capitalized</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Interest expense</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(5.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><B>(i)</B></FONT></DT><DD style="font-family:;"><FONT SIZE=1><B><U>Corporate revolving credit and term loan facilities</U></B></FONT></DD></DL>
</UL>
<UL>
<UL>

<P style="font-family:;"><FONT SIZE=1>As
at March&nbsp;31, 2008 and at March&nbsp;31, 2007, the Company's credit facility included a three year revolving credit facility and a five-and-one half year term loan
for $300.0&nbsp;million and $200.0&nbsp;million, respectively. The revolving credit facility supports Kinross' liquidity and letter of credit needs. The term loan will support the expansion
program at the Paracatu mine in Brazil. Assets of the Fort Knox mine and shares of certain wholly-owned subsidiaries are pledged as&nbsp;collateral. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>The
credit agreement can be drawn in U.S. or Canadian dollars. The facility can be extended at each of the first two maturity dates by an additional year if requested by the Company and at the option
of the lenders. The current maturity date of the revolving credit facility is August&nbsp;18, 2010. During the period ended March&nbsp;31, 2008, issue costs related to both facilities, totaling
$2.2&nbsp;million were recorded as a reduction of the nominal amount on the balance sheet and are being amortized over the term of the new&nbsp;facilities. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
$300.0&nbsp;million revolving credit facility continues to provide support for letters of credit to satisfy financial assurance requirements, primarily for environmental and post closure site
restoration costs, exploration permitting, workers' compensation and other general corporate purposes. As at March&nbsp;31, 2008 letters of credit totaling $147.0&nbsp;million (March&nbsp;31,
2007&nbsp;&#151;&nbsp;$171.5&nbsp;million) were issued against this facility. In the event that the underlying credit facility is not extended, the amounts drawn against the
facility will become due and payable at maturity. Upon completion of the underlying performance requirement, the beneficiary of the associated letter of credit cancels and returns the letter of credit
to the issuing entity. Some of the instruments associated with long-lived assets will remain outstanding until&nbsp;closure. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Loan
interest is variable, set at LIBOR plus an interest rate margin which is dependent on the ratio of the Company's net debt to operating cash&nbsp;flow. </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-18</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=14,SEQ=36,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=306878,FOLIO='F-18',FILE='DISK133:[08ZBQ1.08ZBQ71301]FG71301B.;17',USER='RRICKEN',CD='14-MAY-2008;14:16' -->
<A NAME="page_fg71301_1_19"> </A>
<UL>
<UL>

<P style="font-family:;"><FONT SIZE=1>The
Company's current net debt/operating cash flow ratio is less than 1.25 and the Company expects that this will not change going forward. At this ratio, interest and fees are as&nbsp;follows: </FONT></P>
</UL>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="82%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><B>Type of credit</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="16%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>credit facility</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="82%" style="font-family:;"><FONT SIZE=1>Dollar based LIBOR loan</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>LIBOR plus 1%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="82%" style="font-family:;"><FONT SIZE=1>Letters of credit</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.00%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="82%" style="font-family:;"><FONT SIZE=1>Standby fee applicable to unused availability</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.25%</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<UL>
<UL>

<P style="font-family:;"><FONT SIZE=1>The
credit agreement contains various covenants that include limits on indebtedness, distributions, asset sales and liens. Significant financial covenants include a minimum tangible net worth of
$700.0&nbsp;million (2007&nbsp;&#151;&nbsp;$700.0&nbsp;million), an interest coverage ratio of at least 4.5:1, net debt to operating cash flow of no more than 3.0:1 and
minimum Proven and Probable Reserves of 6&nbsp;million gold equivalent ounces after repayment of the term&nbsp;loan. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><B>(ii)</B></FONT></DT><DD style="font-family:;"><FONT SIZE=1><B><U>Paracatu short-term loan</U></B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=1>As
at March&nbsp;31, 2008, RPM, a subsidiary of the Company, had an outstanding balance on the short-term loan of $nil (March&nbsp;31,
2007&nbsp;&#151;&nbsp;$12.8&nbsp;million). The short-term loan of $2.7&nbsp;million as at December&nbsp;31, 2007 with an interest rate of 5.81% was repaid
during the three months ended March&nbsp;31,&nbsp;2008. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><B>(iii)</B></FONT></DT><DD style="font-family:;"><FONT SIZE=1><B><U>Paracatu capital leases</U></B></FONT></DD></DL>

<UL>

<P style="font-family:;"><FONT SIZE=1>As
at March&nbsp;31, 2008, the Company had obligations related to equipment under capital leases for the Paracatu project totaling $29.6&nbsp;million (March&nbsp;31,
2007&nbsp;&#151;&nbsp;$nil) at an interest rate of 5.52% with repayments through to the end of&nbsp;2013. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><U>Maricunga capital leases</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>As
at March&nbsp;31, 2008, the Company had obligations related to equipment under capital lease totaling $12.6&nbsp;million (March&nbsp;31,
2007&nbsp;&#151;&nbsp;$18.3&nbsp;million) at an interest rate based on the average U.S.&nbsp;federal SWAP rate plus 1.95%. Repayments on the capital leases end
in&nbsp;2010. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><B>(iv)</B></FONT></DT><DD style="font-family:;"><FONT SIZE=1><B><U>Kupol project financing</U></B></FONT></DD></DL>
</UL>
<UL>
<UL>

<P style="font-family:;"><FONT SIZE=1>The
Kupol project financing consists of a project loan ("Project Loan") with a syndicate of banks and a subordinated loan with the International Finance Corporation ("IFC"). The Project Loan and IFC
loan were undertaken by the Company's 75% owned subsidiary, the Chukotka Mining and Geological Company ("CMGC"). In addition, Bayerische Hypo-und Vereinsbank AG ("HVB") provided Bema with
a cost overrun facility ("HVB&nbsp;Facility") of $17.5&nbsp;million. The Company received a waiver from the project lenders giving the Company until June&nbsp;30, 2008 to complete certain
conditions precedent, consisting of the pledging of the long term land lease and registration of the pledge of immovable assets to the Kupol project lenders. The long term land lease is now in place.
However, the Company needs to arrange to have this pledged as security to the&nbsp;lenders. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
Project Loan consists of two tranches totaling $400.0&nbsp;million. Tranche&nbsp;A, for $150.0&nbsp;million, matures June&nbsp;30, 2013, is from a group of multilateral and industry
finance institutions, of which the mandated lead arrangers are Caterpillar Financial SARL, Export Development Canada, IFC, Bank of Tokyo and ING. Tranche&nbsp;B is for $250.0&nbsp;million, matures
June&nbsp;30, 2012, and is fully underwritten by the mandated lead arrangers, namely HVB and Soci&eacute;t&eacute; G&eacute;n&eacute;rale Corporate&nbsp;&amp;
Investment Banking ("SG&nbsp;CIB"). Both tranches of the Project Loan are being drawn down on a pro&nbsp;rata basis and administered by HVB, as documentation and facility agent, and SG CIB, as
technical and insurance agent. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Tranche&nbsp;A
of the Project Loan has a seven-and-one half year term from drawdown, and Tranche&nbsp;B has a six-and-one half year term. The annual
interest rate is: (a)&nbsp;LIBOR plus 2% prior to economic completion of the Kupol mine; (b)&nbsp;LIBOR plus 2.5% for two years after economic completion; and (c)&nbsp;LIBOR plus 3% for each
remaining term (each rate is net of political risk insurance premiums). The Project Loan is collateralized against the Kupol mine and guaranteed by a subsidiary until economic completion is achieved,
as defined by the loan agreements. The loan agreements include customary covenants for debt financings of this type including that EastWest Gold Corporation ("EastWest"), a subsidiary of Kinross, must
maintain minimum liquidity to meet future capital expenditure requirements at Kupol. This liquidity requirement at EastWest is reduced as capital expenditures are made. As a condition of the Project
financing, a wholly-owned subsidiary of the Company has gold and silver hedge forward contracts, acquired in the Bema acquisition, the benefits of which are pledged against the financing. Kinross has
agreed to assume the hedge contracts for the Kupol project in the event that the Kupol loan is accelerated, and the net mark-to-market position of all the hedge contracts
is&nbsp;negative. </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-19</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_fg71301_1_20"> </A>
<UL>
<UL>

<P style="font-family:;"><FONT SIZE=1>The
Project Loan contains various covenants, including certain ratios of estimated future cash flows to total debt that are to be greater than 135% over the term of the loans and greater than 150%
over the term of the project; debt coverage ratios of at least 115%; and the minimum Proven and Probable Reserves of at least 30% of the Proven and Probable Reserves as of the effective date of the
Project&nbsp;Loan. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
IFC loan of $25.0&nbsp;million is for the development of the Kupol mine, of which $19.8&nbsp;million was drawn down as of March&nbsp;31, 2008 and forms part of the Company's and the
Government of Chukotka's project equity contributions. This loan is guaranteed by a subsidiary until economic completion of the Kupol mine, and will have an eight and a half year term from drawdown.
The annual interest rate is LIBOR plus 2%. Prior to the acquisition of Bema by Kinross, Bema had issued share purchase warrants to IFC. As a result of the acquisition of Bema, there are
8.5&nbsp;million Kinross share purchase warrants outstanding relating to the issuance, which are convertible into 3.8&nbsp;million Kinross shares. Each warrant entitles IFC to receive 0.4447 of a
Kinross share plus CDN $0.01, at a price of $6.61, until March&nbsp;1, 2014. Proceeds from the exercise of the warrants are required to be used to repay the IFC&nbsp;loan. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Under
the terms of the HVB Facility, the Company may issue convertible unsecured notes to HVB, with a seven year term from the date of drawdown. The holder of the notes will have the right to convert
the notes into common shares of Kinross at a conversion price equal to $14.57 per share prior to maturity or repayment of the notes. The annual interest is expected to be at the rate of LIBOR plus
2.5% for four years from date of issuance and thereafter at the rate of LIBOR plus 3%. As at March&nbsp;31, 2008, none have been&nbsp;issued. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>On
April&nbsp;26, 2006, Bema deposited $7.5&nbsp;million in an escrow account as required by the Kupol project loan facility which is available only for project cost overruns, if incurred, at any
time up until the economic completion date. As at March&nbsp;31, 2008, all of this restricted cash was released to the Company as agreed between the Company and the Kupol project lenders. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><B>(v)</B></FONT></DT><DD style="font-family:;"><FONT SIZE=1><B><U>Corporate convertible notes</U></B></FONT></DD></DL>

<UL>

<P style="font-family:;"><FONT SIZE=1>As
a result of the acquisition of Bema, the Company assumed the $70.0&nbsp;million outstanding senior unsecured convertible notes maturing February&nbsp;26, 2011 (the&nbsp;"Convertible Notes").
The Convertible Notes were issued at par and bore interest at 3.25% per annum payable on February&nbsp;26 in each year. On March&nbsp;6, 2007, a notice of redemption was issued on the Convertible
Notes, and note holders had until April&nbsp;12, 2007 to either convert their notes into common shares of Kinross, or to receive 100% of face value on the notes plus accrued interest. By
April&nbsp;3, 2007, all note holders had converted their notes into 6.7&nbsp;million common shares of&nbsp;Kinross. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1><B>(vi)</B></FONT></DT><DD style="font-family:;"><FONT SIZE=1><B><U>Senior convertible notes</U></B></FONT></DD></DL>

<UL>

<P style="font-family:;"><FONT SIZE=1>On
January&nbsp;29, 2008, the Company completed a private offering of $460.0&nbsp;million Senior Convertible Notes ("Notes") due March&nbsp;15, 2028, each in the amount of one thousand dollars.
The notes will pay interest semi-annually at a rate of 1.75% per annum. The Notes will be convertible, at the holder's option, equivalent to a conversion price of $28.48 per share of
common stock subject to adjustment. Kinross received net proceeds of $449.9&nbsp;million from the offering of the Notes, after payment of the commissions of the initial purchasers and expenses of
the offering. The Notes are convertible into Kinross common shares at a fixed conversion rate, subject to certain anti-dilution adjustments, only in the event that (i)&nbsp;the market
price of Kinross common shares exceeds 130% of the effective conversion price of the Notes, (ii)&nbsp;the trading price of the Notes falls below 98% of the amount equal to Kinross' then prevailing
common share price, times the applicable conversion rate, (iii)&nbsp;the Notes are called for redemption, (iv)&nbsp;upon the occurrence of specified corporate transactions or (v)&nbsp;if Kinross
common shares cease to be listed on a specified stock exchange or eligible for trading on an Over-the-counter market. The Notes will also be convertible on and after
December&nbsp;15, 2027. Holders of the Notes will have the right to require Kinross to repurchase the Notes on March&nbsp;15, 2013, 2018 and 2023, and, on or prior to March&nbsp;20, 2013, upon
certain fundamental changes. The redemption price will be equal to 100% of the principal amount of the Notes plus accrued and unpaid interest to the redemption date, if any. The Notes are redeemable
by the Company, in whole or in part, for cash at any time after March&nbsp;20, 2013 at a redemption price equal to par plus accrued and unpaid interest, if any, to the redemption&nbsp;date. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>The
Company has allocated $373.1&nbsp;million of the $449.9&nbsp;million proceeds, net of $10.1&nbsp;million in transaction costs, to long term debt based on the fair value of a similar debt
instrument without an associated conversion option. The fair value of the conversion option of the Notes on January&nbsp;29, 2008 was estimated at approximately $76.8&nbsp;million. Additional
financing costs of $1.6&nbsp;million were deferred on the balance sheet by recording a reduction of the nominal amount on the balance sheet and are being amortized over the expected life of the
Notes. Therefore, the initial carrying value of the liability is $371.7&nbsp;million and the residual value of the equity portion is $76.6&nbsp;million. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>As
a result of the Notes, the Company has recognized $2.6&nbsp;million in amortization costs for the period and interest charges of $1.4&nbsp;million for the&nbsp;period. </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-20</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<UL>
</UL>
</UL>
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="fi71301_kinross_gold_corporation_notes__kin05712"> </A>
<A NAME="toc_fi71301_1"> </A>
<BR></FONT><FONT SIZE=2><B>KINROSS GOLD CORPORATION    <BR>    <BR>    NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS    <BR>    <BR>    For the three months ended March 31,<BR>  (in millions of United&nbsp;States dollars)    <BR>    </B></FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RECLAMATION AND REMEDIATION OBLIGATIONS  </B></FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=1>The
Company conducts its operations so as to protect the public health and the environment, and to comply with all applicable laws and regulations governing protection of the environment. Reclamation
and remediation obligations arise throughout the life of each mine. The Company estimates future reclamation costs based on the level of current mining activity and estimates of costs required to
fulfill the Company's future obligation. The following table details the items that affect the reclamation and remediation obligations: </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Balance at January&nbsp;1,</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>231.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>168.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" style="font-family:;"><FONT SIZE=1>Additions resulting from acquisitions<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>61.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" style="font-family:;"><FONT SIZE=1>Reductions resulting from dispositions<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(9.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(43.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" style="font-family:;"><FONT SIZE=1>Reclamation spending</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(21.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" style="font-family:;"><FONT SIZE=1>Accretion and reclamation expenses</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" style="font-family:;"><FONT SIZE=1>Asset retirement cost</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>55.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Balance at period end,</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>235.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>231.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Less: Asset held for sale Note&nbsp;3(i)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Current portion</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Balance at period end,</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>226.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>212.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Reflects
the 2008 adjustments to the purchase price allocation of Bema and the 2007 acquisitions of Bema and the asset purchase and sale with Goldcorp
(see&nbsp;Note&nbsp;3&nbsp;&#151;&nbsp;Acquisitions and&nbsp;divestitures). </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Reflects
the disposition of the Kubaka mine in January, 2008 and the Lupin, PJV, Musselwhite and Haile mines in&nbsp;2007. </FONT></DD></DL>
</UL>

<P style="font-family:;"><FONT SIZE=1><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMMON SHARE CAPITAL AND COMMON SHARE PURCHASE WARRANTS  </B></FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=1>The
authorized share capital of the Company is comprised of an unlimited number of common shares. A summary of common share transactions for the three months ended March&nbsp;31, 2008 is
as&nbsp;follows: </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=4 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Number of<BR>
shares</B></FONT><HR NOSHADE></TH>
<TH WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Amount</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>(000's)<BR> </B></FONT><BR></TH>
<TH WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Common shares</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Balance, January&nbsp;1, 2008</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>611,925</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5,085.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Issued (cancelled):</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="67%" style="font-family:;"><FONT SIZE=1>Under employee share plan</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>35</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="67%" style="font-family:;"><FONT SIZE=1>Under stock option and restricted share plans</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2,865</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Conversions:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="67%" style="font-family:;"><FONT SIZE=1>Warrants</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>44</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Equity portion of convertible notes</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>76.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Balance, March&nbsp;31, 2008</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>614,869</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5,203.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Common share purchase warrants<SUP>(a)</SUP></B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Balance, January&nbsp;1,</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8,856</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>38.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="67%" style="font-family:;"><FONT SIZE=1>Conversion of warrants</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(44</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(0.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Balance, March&nbsp;31, 2008</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8,812</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>37.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total common share capital and common share purchase warrants</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5,241.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>See
below for discussion of warrants. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-21</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=39,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=386843,FOLIO='F-21',FILE='DISK133:[08ZBQ1.08ZBQ71301]FI71301A.;27',USER='JRANGER',CD='14-MAY-2008;15:35' -->
<A NAME="page_fi71301_1_22"> </A>
<UL>
<UL>
</UL>

<P style="font-family:;"><FONT SIZE=1><B> Common share purchase warrants  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>A
summary of the status of the common share purchase warrants and changes during the three months ended March&nbsp;31, 2008 are as&nbsp;follows: </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="65%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><B>Canadian $ denominated common share purchase warrants</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=4 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="65%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>(000's)<SUP>(a)</SUP></B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Weighted average<BR>
exercise price ($CDN)</B></FONT><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="65%" style="font-family:;"><FONT SIZE=1>Balance, January&nbsp;1,<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4,697</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="22%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>22.48</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="65%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="65%" style="font-family:;"><FONT SIZE=1>Outstanding at March&nbsp;31,</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4,697</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="22%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>22.48</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="65%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="80%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="68%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><B>US $ denominated common share purchase warrants</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=4 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="68%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>(000's)<SUP>(a)</SUP></B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Weighted average<BR>
exercise price ($)</B></FONT><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Balance, January&nbsp;1,</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4,159</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6.77</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Exercised<SUP>(c)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(44</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7.53</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Outstanding at March&nbsp;31,</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4,115</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6.76</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Represents
share equivalents of warrants. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>This
balance consists of 19.9&nbsp;million Bema warrants outstanding that were convertible into 8.8&nbsp;million Kinross shares plus CAD$0.01 per Bema&nbsp;warrant. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>During
the three months ended March&nbsp;31, 2008, 100,000&nbsp;warrants were converted into 44,000&nbsp;common&nbsp;shares. </FONT></DD></DL>
</UL>

<P style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table summarizes information regarding the common share purchase warrants outstanding and exercisable at March&nbsp;31,&nbsp;2008: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="57%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Warrants outstanding and exercisable</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="57%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><B>Exercise price range<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Number<BR>
outstanding</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Weighted<BR>
average<BR>
exercise price</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Weighted<BR>
average<BR>
remaining<BR>
contractual<BR>
life</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="57%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>(000's)<SUP>(a)</SUP><BR></FONT>
<BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>($)<BR></FONT>
<BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>(years)<BR></FONT>
<BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=1><I>Exercisable in Canadian dollars:</I></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=1>$22.48</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4,697</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>CDN $22.48</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.44</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4,697</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>CDN $22.48</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.44</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><BR><FONT SIZE=1><I>Exercisable in United&nbsp;States dollars:</I></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=1>$6.29&nbsp;&#151;&nbsp;$9.43</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4,004</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>$&nbsp;&nbsp;6.59</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.71</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=1>$12.89</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.89</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.15</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4,115</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>$&nbsp;&nbsp;6.76</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.64</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="57%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Represents
share equivalents of warrants. </FONT></DD></DL>
</UL>
<UL>

<P style="font-family:;"><FONT SIZE=1><B> Stock options  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>There
were 1,188,892&nbsp;options granted during the three months ended March&nbsp;31, 2008. The Black-Scholes weighted average assumptions for the three months ended relating to expected dividend
yield, expected volatility, risk-free interest rate, and expected option life in years were: 0.34%, 38.9%, 3.1%, and 3.5&nbsp;years, respectively. The weighted average fair value per
stock option granted for the three months ended March&nbsp;31, 2008, was CDN&nbsp;$7.52. </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-22</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=40,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=887196,FOLIO='F-22',FILE='DISK133:[08ZBQ1.08ZBQ71301]FI71301A.;27',USER='JRANGER',CD='14-MAY-2008;15:35' -->
<A NAME="page_fi71301_1_23"> </A>
<UL>

<P style="font-family:;"><FONT SIZE=1>A
summary of the status of the stock option plan and changes during the three months ended March&nbsp;31, 2008 are as&nbsp;follows: </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="63%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><B>Canadian $ denominated options</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=4 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March 31, 2008</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="63%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>(000's)<SUP>(a)(d)</SUP></B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Weighted average<BR>
exercise price ($CDN)</B></FONT><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="63%" style="font-family:;"><FONT SIZE=1>Balance, January&nbsp;1,</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5,948</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="22%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.31</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="63%" style="font-family:;"><FONT SIZE=1>Exercised</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(2,699</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10.33</B></FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="63%" style="font-family:;"><FONT SIZE=1>Granted</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,189</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>23.79</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="63%" style="font-family:;"><FONT SIZE=1>Forfeited</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>17.96</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="63%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="63%" style="font-family:;"><FONT SIZE=1>Outstanding at March&nbsp;31,</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4,434</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="22%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>16.59</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="63%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="80%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="66%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><B>US $ denominated options</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=4 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March 31, 2008</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="66%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>(000's)<SUP>(a)(d)</SUP></B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Weighted average<BR>
exercise price ($)</B></FONT><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="66%" style="font-family:;"><FONT SIZE=1>Balance, January&nbsp;1,</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9.15</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="66%" style="font-family:;"><FONT SIZE=1>Exercised</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9.15</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="66%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="66%" style="font-family:;"><FONT SIZE=1>Outstanding at March&nbsp;31,</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="66%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<UL>

<P style="font-family:;"><FONT SIZE=1>The
following table summarizes information about the stock options outstanding and exercisable at March&nbsp;31,&nbsp;2008: </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="39%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Options outstanding</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Options exercisable</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="39%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><B>Exercise price range</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Number<BR>
outstanding</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Weighted<BR>
average<BR>
exercise<BR>
price</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Weighted<BR>
average<BR>
remaining<BR>
contractual<BR>
life</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Number<BR>
exercisable</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Weighted<BR>
average<BR>
exercise<BR>
price</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="39%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>(000's)<SUP>(a)</SUP></B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>($)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>(years)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>(000's)</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>($)</B></FONT><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1><I>Exercisable in Canadian dollars:</I></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>$&nbsp;&nbsp;5.81&nbsp;&#151;&nbsp;$&nbsp;&nbsp;8.72</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.60</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.09</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.60</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>$&nbsp;&nbsp;8.73&nbsp;&#151;&nbsp;$13.07</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,423</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.14</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.87</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>892</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.90</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>$13.08&nbsp;&#151;&nbsp;$19.61</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,809</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.35</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.08</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>228</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.99</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>$19.62&nbsp;&#151;&nbsp;$46.16</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,199</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23.77</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.88</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.86</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4,434</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>$16.59</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.90</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,132</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>CAD $12.38</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<UL>

<P style="font-family:;"><FONT SIZE=1><B> Capital Management  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Our
objectives when managing capital are to: </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Ensure
the Company has sufficient cash available to support the mining, exploration, and other areas of the business in any gold price environment
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Ensure
the Company has the capital and capacity to support the Company's long-term growth&nbsp;strategy
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Provide
investors with a superior rate of return on their invested capital
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Ensure
that all bank covenant ratios are complied with </FONT></DD></DL>
</UL>
<UL>

<P style="font-family:;"><FONT SIZE=1>Kinross
adjusts its capital structure based on changes in forecasted economic conditions and based on the Company's long term strategic business plan. Kinross has the ability to adjust its capital
structure by issuing new equity, drawing on existing credit facilities, issuing new debt, and by selling or acquiring assets. Kinross can also control how much capital is returned to shareholders
through dividends and share&nbsp;buybacks. </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-23</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=41,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=188626,FOLIO='F-23',FILE='DISK133:[08ZBQ1.08ZBQ71301]FI71301A.;27',USER='JRANGER',CD='14-MAY-2008;15:35' -->
<A NAME="page_fi71301_1_24"> </A>
<UL>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="71%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Long term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>836.2</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>370.3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Current portion long term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>110.9</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.9</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Total debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>947.1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>397.2</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Equity</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4,857.6</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4,484.7</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Gross debt / equity ratio</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>19.5%</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.9%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Company target</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0&nbsp;-&nbsp;30%</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0&nbsp;-&nbsp;30%</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="80%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="71%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31, 2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Operating Cashflow:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Rolling 12&nbsp;month cash flow from Operating Activities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>327.3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>362.1</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><BR><FONT SIZE=1> Add Back:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Rolling 12&nbsp;month cash interest paid</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31.8</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.5</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Rolling 12&nbsp;month cash income tax paid</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>24.6</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Rolling 12&nbsp;month Operating cash flow</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>383.7</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>388.9</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Rolling 12&nbsp;month cash interest paid</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31.8</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Interest coverage ratio</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.1:1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.9:1</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>Company target ratio</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&gt;5.0:1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&gt;5.0:1</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><B>10.&nbsp;&nbsp;EARNINGS (LOSS) PER SHARE  </B></FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=1>Earnings
(loss) per share ("EPS") has been calculated using the weighted average number of shares outstanding during the year. Diluted EPS is calculated using the treasury stock method with the
exception of all preferred shares which use the if-converted method. The following table details the weighted average number of outstanding common shares for the purposes of computing
basic and diluted earnings (loss) per common share for the following years: </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended<BR>
March&nbsp;31,</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><I>(Number of common shares in thousands)</I></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="8%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Basic weighted average shares outstanding:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>613,805</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>440,801</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Weighted average shares dilution adjustments:</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Dilutive stock options<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>981</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2,529</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Restricted shares</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,294</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,228</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Common share purchase warrants<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3,012</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8,595</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Kinam preferred shares</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>331</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Convertible notes</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2,444</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Diluted weighted average shares outstanding</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>619,092</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>455,928</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Weighted average shares dilution adjustments&nbsp;&#151;&nbsp;exclusions:<SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Stock options</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,189</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>93</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Common share purchase warrants</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4,705</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Kinam preferred shares</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>331</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Convertible notes</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>20,109</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Dilutive
stock options and warrants were determined by using the Company's average share price for the period. For the three months ended March&nbsp;31, 2008 and 2007 the average
share price used was $22.88 and $12.96 per share, respectively. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>These
adjustments were excluded, as they were anti-dilutive for the three months ended March&nbsp;31, 2008 and&nbsp;2007. </FONT></DD></DL>
</UL>

<P style="font-family:;"><FONT SIZE=1><B>11.&nbsp;&nbsp;SEGMENTED INFORMATION  </B></FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=1>The
Company operates primarily in the gold mining industry and its major product is gold. Its activities include gold production, acquisition, exploration and development of gold properties. The
Company's primary mining operations are in the United&nbsp;States, Brazil, the Russian Federation, and Chile and included gold production in Canada until PJV and Musselwhite were sold to Goldcorp in
the asset purchase and sale on December&nbsp;21, </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-24</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=42,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=862053,FOLIO='F-24',FILE='DISK133:[08ZBQ1.08ZBQ71301]FI71301A.;27',USER='JRANGER',CD='14-MAY-2008;15:35' -->
<A NAME="page_fi71301_1_25"> </A>
<UL>

<P style="font-family:;"><FONT SIZE=1>2007.
The reported segments are those operations whose operating results are reviewed by the Chief Executive Officer as were those operations that pass certain quantitative measures. Operations whose
revenues, earnings or losses or assets exceed 10% of the total consolidated revenue, earnings or losses, or assets respectively, are reportable segments. Properties that are in development or have not
reached commercial production levels are reported as other operations. Properties that are under care and maintenance, are shut down and are in reclamation, non-mining and other operations
are reported in Corporate and other. At December&nbsp;31, 2007, the additional segments that resulted from the Bema acquisition were&nbsp;included from February&nbsp;27,&nbsp;2007. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B> Operating results by segments:  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
following tables set forth information by segment for the following periods: </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Metal sales</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Cost of<BR>
sales<SUP>(a)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Accretion</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>DD&amp;A<SUP>(b)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Exploration</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Other<SUP>(c)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Segment earnings (loss)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31, 2008</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Operating segments</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Fort Knox</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>71.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>35.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>28.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Round Mountain</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>54.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>26.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>22.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Paracatu</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>19.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>15.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>La Coipa<SUP>(e)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>73.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>36.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>21.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Crixas</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>18.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Maricunga<SUP>(f)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>57.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>34.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>19.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Kettle River</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Julietta<SUP>(h)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>15.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>11.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Other operations<SUP>(i)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Corporate and other</B></FONT><FONT SIZE=1><SUP>(d)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>23.0</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(32.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>330.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>168.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>37.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>11.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>26.2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>81.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="80%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Metal<BR>
sales</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Cost of<BR>
sales<SUP>(a)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Accretion</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>DD&amp;A<SUP>(b)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Exploration</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Other<SUP>(c)</SUP></B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Segment<BR>
operating<BR>
earnings<BR>
(loss)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><FONT SIZE=1><B>For the three months ended March&nbsp;31, 2007:</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Operating segments</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Fort Knox</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Round Mountain</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>55.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Paracatu</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>La Coipa</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Maricunga<SUP>(f)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Kettle River</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Crix&aacute;s</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Porcupine Joint Venture<SUP>(g)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Musselwhite<SUP>(g)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Julietta<SUP>(h)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Other operations<SUP>(i)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Corporate and other</B></FONT><FONT SIZE=1><SUP>(d)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(21.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>245.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>124.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>59.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Cost
of sales excludes accretion, depreciation, depletion and amortization. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Depreciation,
depletion and amortization is referred to as "DD&amp;A" in the tables&nbsp;above. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Other
includes Other operating costs and General and administrative expenses. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(d)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Includes
corporate, shutdown operations and other non-core operations. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(e)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Pursuant
to the asset purchase and sale with Goldcorp, the Company acquired the additional 50% interest in La Coipa on December&nbsp;21,&nbsp;2007. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-25</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=43,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=822602,FOLIO='F-25',FILE='DISK133:[08ZBQ1.08ZBQ71301]FI71301A.;27',USER='JRANGER',CD='14-MAY-2008;15:35' -->
<A NAME="page_fi71301_1_26"> </A>
<UL>
<UL>
</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(f)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>As
part of the Bema acquisition, the Company acquired an additional 50% interest in Maricunga on February&nbsp;27,&nbsp;2007. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(g)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>PJV
and Musselwhite were sold to Goldcorp pursuant to the asset purchase and sale which closed on December&nbsp;21,&nbsp;2007. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(h)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>As
part of the Bema acquisition, the Company acquired a 90% interest in Julietta on February&nbsp;27,&nbsp;2007. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(i)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Other
operations includes Kupol and Cerro Casale, acquired with the acquisition of Bema on February&nbsp;27,&nbsp;2007. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B> Segment assets and Capital expenditures:  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
following table details the segment assets and capital expenditures for the following years: </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Segment assets</B></FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Capital expenditures</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>As at</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" ROWSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" ROWSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31,<BR>
2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" ROWSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31,<BR>
2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Operating segments</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Fort Knox</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>220.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>197.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>16.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.5</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Round Mountain</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>225.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>198.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Paracatu</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,009.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>897.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>103.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.1</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>La Coipa</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>462.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>440.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.6</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Maricunga<SUP>(a)</SUP><SUP>(b)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>747.3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>233.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.2</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Crix&aacute;s</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>107.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>109.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.9</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Julietta<SUP>(c)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39.9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Kettle River</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>325.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>319.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.4</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Porcupine Joint Venture</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.1</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Musselwhite</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Other operations<SUP>(d)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2,893.6</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,962.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>38.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.2</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Assets held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Corporate and other<SUP>(e)</SUP></B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,145.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2,315.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.6</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7,177.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6,729.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>190.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69.7</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">
<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Segment
assets reflect a 100% interest in Maricunga as a result of the acquisition of Bema in February&nbsp;2007. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Capital
expenditures reflect the Company's 50% interest in Maricunga prior to February&nbsp;27, 2007 and a 100% interest thereafter. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Segment
assets and capital expenditures reflect the Company's interest in Julietta as a result of the acquisition of Bema on February&nbsp;27,&nbsp;2007. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(d)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Other
operations includes Kupol and Cerro Casale, acquired with the acquisition of Bema on February&nbsp;27,&nbsp;2007. </FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(e)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Includes
Corporate, shutdown operations and other non-core operations. Also includes $563.8 and $436.8&nbsp;million in cash and cash equivalents held at the corporate
level as at March&nbsp;31, 2008 and December&nbsp;31, 2007, respectively. </FONT></DD></DL>
</UL>
<UL>

<P style="font-family:;"><FONT SIZE=1><B> Metal sales and Property, plant and equipment by geographical regions:  </B></FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="49%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Metal sales</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Property, plant&nbsp;&amp; equipment</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="49%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" ROWSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended March&nbsp;31,</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="49%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%" ROWSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>March&nbsp;31,<BR>
2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" ROWSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31,<BR>
2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="49%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=1><B>Geographic information:</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=1>United&nbsp;States</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>126.3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>102.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>586.4</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>523.0</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=1>Canada<SUP>(a)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13.4</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22.4</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=1>Brazil</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>57.9</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>880.1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>782.4</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=1>Chile</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>130.9</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>55.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1,010.3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>930.4</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=1>Russian Federation</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>15.1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>995.4</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1,218.1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>330.2</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>245.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3,485.6</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3,476.3</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-26</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=44,EFW="2185795",CP="KINROSS GOLD CORPORATION",DN="2",CHK=272481,FOLIO='F-26',FILE='DISK133:[08ZBQ1.08ZBQ71301]FI71301A.;27',USER='JRANGER',CD='14-MAY-2008;15:35' -->
<A NAME="page_fi71301_1_27"> </A>
<UL>

<P style="font-family:;"><FONT SIZE=1>The
following table represents sales to individual customers exceeding 10% of metal&nbsp;sales: </FONT></P>
</UL>
<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="70%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="76%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Metal Sales</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="76%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>Three months ended<BR>
March&nbsp;31,</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="76%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1><B>Rank</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2008</B></FONT><HR NOSHADE></TH>
<TH WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1><B>2007</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>120.8</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69.3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>59.3</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50.2</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>42.0</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29.1</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.2</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>$</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>222.1</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>176.8</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>% of total metal sales</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>67.3%</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>72.0%</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<UL>

<P style="font-family:;"><FONT SIZE=1>The
Company is not economically dependent on a limited number of customers for the sale of its product because gold can be sold through numerous commodity market traders worldwide. </FONT></P>

</UL>


<P style="font-family:;"><FONT SIZE=1><B>12.&nbsp;&nbsp;CONTINGENCIES  </B></FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=1><B> General  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Estimated
losses from loss contingencies are accrued by a charge to earnings when information available prior to the issuance of the financial statements indicates that it is likely that a future
event will confirm that an asset has been impaired or a liability incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B> Kettle River&nbsp;&#151;&nbsp;Buckhorn permitting and approvals  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
November&nbsp;2005, the Kettle River mill was temporarily shut down as all mining activities had been completed. The Buckhorn property was acquired in the Crown transaction in August&nbsp;2006.
All permits and approvals that are required to complete development and initiate commercial mining operations at the Buckhorn property have been received. Certain opponents of the mine appealed
certain permits and approvals in 2006 and 2007. The deadline for filing additional appeals has passed. In April of 2008, the Company reached a settlement agreement pursuant to which all appeals
pending before the Washington Environmental and Land Use Hearings Board and the United&nbsp;States Federal District Court for the Eastern District of Washington have been&nbsp;dismissed. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B> Other legal matters  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
Company is involved in legal proceedings from time to time, arising in the ordinary course of its business. Typically, the amount of ultimate liability with respect to these actions will not, in
the opinion of management, materially affect Kinross' financial position, results of operations or cash&nbsp;flows. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B> Income taxes  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
Company operates in numerous countries around the world and accordingly is subject to, and pays annual income taxes under the various regimes in countries in which it operates. These tax regimes
are determined under general corporate income tax laws of the country. The Company has historically filed, and continues to file, all required income tax returns and to pay the taxes reasonably
determined to be due. The tax rules and regulations in many countries are complex and subject to interpretation. From time to time the Company will undergo a review of its historic tax returns and in
connection with such reviews, disputes can arise with the taxing authorities over the Company's interpretation of the country's income tax&nbsp;rules. </FONT></P>

</UL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2>F-27</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P><br><A NAME="08ZBQ71302_2">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:;"><A HREF="#toc_da71301_1">Management's Discussion and Analysis for the three months ended March 31, 2008</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:;"><A HREF="#toc_fc71301_1">KINROSS GOLD CORPORATION CONSOLIDATED BALANCE SHEETS (expressed in millions of United States dollars, except share amounts)</A></FONT><BR>
<FONT SIZE=2 style="font-family:;"><A HREF="#toc_fc71301_2">KINROSS GOLD CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS Unaudited (expressed in millions of United States dollars, except per share and share amounts)</A></FONT><BR>

<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:;"><A HREF="#toc_fe71301_1">KINROSS GOLD CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS Unaudited (expressed in millions of United States dollars)</A></FONT><BR>
<FONT SIZE=2 style="font-family:;"><A HREF="#toc_fe71301_2">KINROSS GOLD CORPORATION CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY Unaudited (expressed in millions of United States dollars)</A></FONT><BR>
<FONT SIZE=2 style="font-family:;"><A HREF="#toc_fe71301_3">CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Unaudited (expressed in millions of United States dollars)</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:;"><A HREF="#toc_fi71301_1">KINROSS GOLD CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, (in millions of United States dollars)</A></FONT><BR>
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<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>a2185795zex-99_2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<P ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><A
NAME="da71302_exhibit_99.2"> </A>
<A NAME="toc_da71302_1"> </A>
<BR></FONT><FONT SIZE=2><B>Exhibit&nbsp;99.2    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da71302_form_52-109f2_certification_of_interim_filings"> </A>
<A NAME="toc_da71302_2"> </A>
<BR></FONT><FONT SIZE=2><B>Form&nbsp;52-109F2<BR>  Certification of Interim Filings    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>I,
Tye W. Burt, the President and Chief Executive Officer of Kinross Gold Corporation, certify that: </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>I
have reviewed the interim filings (as&nbsp;this term is defined in Multilateral Instrument&nbsp;52-109 </FONT><FONT SIZE=2><I>Certification of Disclosure in Issuers'
Annual and Interim Filings</I></FONT><FONT SIZE=2>) of Kinross Gold Corporation, (the&nbsp;"Issuer") for the interim period ending March&nbsp;31,&nbsp;2008;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Based
on my knowledge, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a
statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Based
on my knowledge, the interim financial statements together with the other financial information included in the interim filings fairly present in all material respects the
financial condition, results of operations and cash flows of the Issuer, as of the date and for the periods presented in the interim filings;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
Issuer's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures and internal control over financial reporting for the
Issuer, and we&nbsp;have:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>designed
such disclosure controls and procedures, or caused them to be designed under our supervision, to provide reasonable assurance that material information relating to the
Issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which the interim filings are being prepared;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>designed
such internal control over financial reporting, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with the Issuer's GAAP;&nbsp;and
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>5.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>I
have caused the Issuer to disclose in the interim MD&nbsp;&amp; A any change in the Issuer's internal control over financial reporting that occurred during the Issuer's most recent
interim period that has materially affected, or is reasonably likely to materially affect, the Issuer's internal control over financial reporting. </FONT></DD></DL>

<P style="font-family:times;"><FONT SIZE=2>Date:
May&nbsp;14, 2008 </FONT></P>

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<TR VALIGN="BOTTOM">
<TD WIDTH="58%" style="font-family:times;"><FONT SIZE=2>/s/ TYE W. BURT</FONT><HR NOSHADE><FONT SIZE=2> Tye W. Burt<BR>
President and Chief Executive Officer</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<P><br><A NAME="08ZBQ71302_3">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da71302_1">Exhibit 99.2</A></FONT><BR>
</UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da71302_2">Form 52-109F2 Certification of Interim Filings</A></FONT><BR>
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<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>a2185795zex-99_3.htm
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
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<P ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><A
NAME="ea71302_exhibit_99.3"> </A>
<A NAME="toc_ea71302_1"> </A>
<BR></FONT><FONT SIZE=2><B>Exhibit&nbsp;99.3    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ea71302_form_52-109f2_certification_of_interim_filings"> </A>
<A NAME="toc_ea71302_2"> </A>
<BR></FONT><FONT SIZE=2><B>Form&nbsp;52-109F2<BR>  Certification of Interim Filings    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>I,
Thomas Boehlert, the Executive Vice-President and Chief Financial Officer of Kinross Gold Corporation, certify&nbsp;that: </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>I
have reviewed the interim filings (as&nbsp;this term is defined in Multilateral Instrument&nbsp;52-109 </FONT><FONT SIZE=2><I>Certification of Disclosure in Issuers'
Annual and Interim Filings</I></FONT><FONT SIZE=2>) of Kinross Gold Corporation, (the&nbsp;"Issuer") for the interim period ending March&nbsp;31,&nbsp;2008;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Based
on my knowledge, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a
statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Based
on my knowledge, the interim financial statements together with the other financial information included in the interim filings fairly present in all material respects the
financial condition, results of operations and cash flows of the Issuer, as of the date and for the periods presented in the interim filings;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
Issuer's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures and internal control over financial reporting for the
Issuer, and we&nbsp;have:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>designed
such disclosure controls and procedures, or caused them to be designed under our supervision, to provide reasonable assurance that material information relating to the
Issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which the interim filings are being prepared;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>designed
such internal control over financial reporting, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with the Issuer's GAAP;&nbsp;and
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>5.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>I
have caused the Issuer to disclose in the interim MD&nbsp;&amp; A any change in the Issuer's internal control over financial reporting that occurred during the Issuer's most recent
interim period that has materially affected, or is reasonably likely to materially affect, the Issuer's internal control over financial reporting. </FONT></DD></DL>

<P style="font-family:times;"><FONT SIZE=2>Date:
May&nbsp;14, 2008 </FONT></P>

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<TD WIDTH="58%" style="font-family:times;"><FONT SIZE=2>/s/ THOMAS BOEHLERT</FONT><HR NOSHADE><FONT SIZE=2> Thomas Boehlert, Executive Vice-President<BR>
and Chief Financial Officer</FONT></TD>
<TD WIDTH="3%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ea71302_1">Exhibit 99.3</A></FONT><BR>
</UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ea71302_2">Form 52-109F2 Certification of Interim Filings</A></FONT><BR>
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