<SEC-DOCUMENT>0001571049-16-013461.txt : 20160330
<SEC-HEADER>0001571049-16-013461.hdr.sgml : 20160330
<ACCEPTANCE-DATETIME>20160330091941
ACCESSION NUMBER:		0001571049-16-013461
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160330
FILED AS OF DATE:		20160330
DATE AS OF CHANGE:		20160330

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:		161537193

	BUSINESS ADDRESS:	
		STREET 1:		25 YORK STREET
		STREET 2:		17TH FLOOR
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J 2V5
		BUSINESS PHONE:		8013639152

	MAIL ADDRESS:	
		STREET 1:		25 YORK STREET
		STREET 2:		17TH FLOOR
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J 2V5

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PLEXUS RESOURCES CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TYPE>6-K
<SEQUENCE>1
<FILENAME>t1600180_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Washington, DC 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">FORM 6-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">REPORT OF FOREIGN PRIVATE ISSUER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">PURSUANT TO RULE 13a-16 OR 15d-16</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">UNDER THE SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">For the month of March, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Commission File Number: 001-13382</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 14pt">KINROSS
GOLD CORPORATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Translation of registrant's name into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>17<SUP>th</SUP> Floor, 25 York Street,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Toronto, Ontario M5J 2V5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Indicate by check mark
whether the registrant files or will file annual reports under cover of Form 20-F or Form 40F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form 20-F_____ Form 40-F_<U>X</U>__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Indicate by check mark
if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):_____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Note: Regulation S-T Rule
101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security
holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Indicate by check mark
if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):_____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Note: Regulation S-T Rule
101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant
foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated,
domiciled or legally organized (the registrant's &quot;home country&quot;), or under the rules of the home country exchange on
which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to
be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the
subject of a Form 6-K submission or other Commission filing on EDGAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Indicate by check mark
whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Yes_____ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No_<U>X</U>__</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If &quot;Yes&quot; is marked,
indicate below the file number assigned to the registrant in connection with Rule 12g3-2b:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This report on Form 6-K is being furnished
for the sole purpose of providing a copy of the press release dated March 30, 2016 in which Kinross Gold Corporation announced
its decision to proceed with Phase One of expansion on the Tasiast Project in Mauritania.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">INDEX</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Table of Contents</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><U>SIGNATURES</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><U>EXHIBIT INDEX</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">99.1</TD><TD STYLE="text-align: left">Press Release dated March 30, 2016.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 372pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 372pt; text-align: right">Page 3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><B>KINROSS GOLD CORPORATION</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify">Signed: </TD>
    <TD STYLE="width: 43%; text-align: justify">//Shelley M. Riley//</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">Vice President, Office Services and Corporate Secretary</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">March 30, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>t1600180_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: left"><IMG SRC="ex99-1logo.jpg" ALT=""></td>
    <td style="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; color: #C59B5F"><b>Kinross Gold Corporation</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Toronto, ON Canada M5J 2V5</P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: gray"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: gray"><B>NEWS RELEASE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: #C59B5F"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: rgb(197,155,95)"><B>Kinross to proceed with Phase
One of Tasiast expansion </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: #C59B5F"><B>Annual production expected
to increase by 87% and reduce production cost of sales per ounce by 48% Phase Two prefeasibility details released, opportunity
to further increase production and lower costs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: #C59B5F; border-bottom: rgb(197,155,95) 2pt solid"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>(This news release contains forward-looking
information about expected future events and financial and operating performance of the Company. We refer to the risks and assumptions
set out in our Cautionary Statement on Forward-Looking Information located on page seven of this news release. All dollar amounts
are expressed in U.S. dollars, unless otherwise noted.)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Toronto, Ontario, March 30, 2016</B> &ndash;
Kinross Gold Corporation (TSX: K; NYSE: KGC) is pleased to announce that it is proceeding with the Phase One expansion of its Tasiast
mine in Mauritania. Phase One is expected to increase mill throughput capacity from the current 8,000 tonnes per day (t/d) to 12,000
t/d, while significantly reducing Tasiast&rsquo;s operating costs and increasing production. Preparations for Phase One construction
to install incremental crushing and grinding capacity to the existing carbon-in-leach (CIL) circuit, which includes an oversized
semi-autogenous grinding (SAG) mill and gyratory crusher, will begin immediately. Phase One is expected to reach full production
by the end of Q1 2018 with estimated capital expenditures of approximately $300 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="background-color: black">
    <TD COLSPAN="2" STYLE="border: black 1pt solid; padding: 2pt 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Phase One Feasibility Study Highlights*</b></font></td></tr>
<tr style="background-color: #BFBFBF">
    <TD STYLE="width: 54%; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Estimates</b></font></td>
    <TD STYLE="vertical-align: top; width: 46%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Phase One</b></font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Throughput capacity (t/d)</font></td>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,000</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average annual production (Au oz.)</font></td>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">409,000 (2018-2027)</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All-in sustaining cost<sup>1</sup> (per ounce)</font></td>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$760 (2018-2027)</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Production cost of sales (per ounce) </font></td>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$535 (2018-2027) </font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial capital costs<sup>2</sup> (millions) </font></td>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$300</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Internal rate of return (IRR)<sup>3</sup> </font></td>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20%</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net present value (NPV)<sup>4</sup> (millions) </font></td>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$635</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>*Based on a $1,200 per ounce gold price
assumption and oil price assumption of $45/bbl and no Phase Two expansion. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is also pleased to release details
of a prefeasibility study on a combined potential Phase One and Phase Two expansion based on installing additional mill throughput
of 18,000 t/d for a total combined capacity of 30,000 t/d. This potential expansion contemplates replacing the two current ball
mills with a new larger ball mill, adding incremental power generation to the existing 20 MW heavy fuel oil power plant and additional
leaching and thickening capacity, upgrading the water supply infrastructure, and expanding the mine fleet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="background-color: black">
    <TD NOWRAP COLSPAN="2" STYLE="border: Black 1pt solid; padding: 2pt 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Combined Phase One and Phase Two Prefeasibility Study Highlights**</b></font></td></tr>
<tr style="background-color: #A6A6A6">
    <TD NOWRAP STYLE="width: 54%; border-left: Black 1pt solid; padding: 2pt 5.4pt; border-bottom: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Estimates</b></font></td>
    <TD NOWRAP STYLE="width: 46%; border-bottom: Black 1pt solid; padding: 2pt 5.4pt; border-right: Black 1pt solid; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Phase One and Two combined</b></font></td></tr>
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Throughput capacity (t/d)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30,000 </font></td></tr>
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average annual production (Au oz.)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">777,000 (2020-2026)</font></td></tr>
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All-in sustaining cost<sup>1 </sup>(per ounce)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$665 (2020-2026)</font></td></tr>
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Production cost of sales (per ounce)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$460 (2020-2026)</font></td></tr>
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Initial capital costs<sup>5</sup> (millions)</td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$920</font></td></tr>
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Internal rate of return (IRR)<sup>3 </sup></font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17%</font></td></tr>
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net present value (NPV)<sup>4 </sup>(millions)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$885</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>**Based on a $1,200 per ounce gold price
assumption and oil price assumption of $45/bbl. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Detailed study results for a combined Phase
One and Phase Two 30,000 t/d expansion can be found in an updated NI 43-101 Technical Report for Tasiast available on the Company
website at <FONT STYLE="color: Blue"><U>www.kinross.com</U></FONT>. The Phase One feasibility study has been reviewed by third-party
independent reviewers and was found to be consistent with industry best standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP><I>
Throughout this news release, forecast site-level all-in sustaining cost excludes corporate overhead costs.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I><SUP>2</SUP> Excludes forecast capitalized stripping of $428
million (2016-2019). </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><SUP>3</SUP><I> Throughout this news release, calculated April 1,
2016 forward.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I><SUP>4</SUP> Throughout this news release, calculated based on
a 5% discount rate from April 1, 2016 and after tax. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>5</SUP></FONT><SUP>
</SUP><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Excludes forecast capitalized stripping of $547
million (2016-2019).</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center; border-bottom: rgb(197,155,95) 2pt solid">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 50%; font-size: 10pt; text-align: left"><IMG SRC="ex99-1logo.jpg" ALT=""></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">25 York Street 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Toronto, ON, Canada M5J 2V5</P></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #C59B5F"><B>CEO commentary</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>J. Paul Rollinson, President and CEO, made
the following comments in relation to the Tasiast two-phased expansion studies: </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;This phased approach allows Kinross
to transform Tasiast into a lower cost, cash flow positive operation in the near term while preserving the operation&rsquo;s significant
growth potential. Phase One, which is expected to reach full production by the end of Q1 2018, will require an estimated initial
capital investment of approximately $300 million, to be self-financed by the Company. The expansion is forecast to reduce Tasiast&rsquo;s
production cost of sales per ounce by an estimated 48% while increasing annual production by an estimated 87% compared with 2015.
The Phase One expansion has robust standalone economics, including a positive 20% expected internal rate of return.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;Phase Two, which anticipates increasing
total throughput to 30,000 t/d, underscores Kinross&rsquo; focus on financial discipline. The forecast total capital expenditure
for the combined Phase One and Two has been significantly lowered compared to previous expansion studies. With lower capital required,
the expected benefits remain compelling, with a 30,000 t/d Tasiast expected to be the Company&rsquo;s largest and lowest cost operation
with a long estimated mine life.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;The two-phased approach strikes the
right balance between growth and preserving balance sheet strength and is well-suited to the current gold price environment. Phase
One achieves Kinross&rsquo; near term goals with a manageable investment while allowing the Company to reassess market conditions
and further optimize the project before deciding to proceed with Phase Two. In short, this is the right project for Kinross at
the right time.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"><B>Phase One 12,000 t/d expansion overview </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Phase One feasibility study is based on
increasing the current 8,000 t/d throughput capacity to 12,000 t/d. The additional processing capacity is expected to be achieved
with the addition of a gyratory crusher, an oversized SAG mill and three leach tanks, as well as improvements to other components
of the processing circuit. The new mill is forecast to produce an average of approximately 409,000 gold ounces a year during the
first 10 years (2018-2027, when mining will occur), with a forecast cumulative production of 5.0 million gold ounces to 2033. Milling
of residual stockpiled ore will extend the estimated mine life to 2033.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Production cost of sales is estimated to average
$535 per ounce, with estimated all-in sustaining cost of $760 per ounce for 2018-2027. Mill grades are expected to average 3.1
g/t over this period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Preparations for Phase One construction will
begin immediately, with expected forecast capital expenditures of $300 million, plus estimated capital stripping of $428 million
(2016-2019). Engineering work is 35% complete and is expected to reach 80% by end of July 2016. A significant amount of contractual
commitments and site establishment work is expected to occur during Q2 2016, with full field construction expected to commence
in Q3 2016. Phase One commissioning is expected to begin in Q4 2017, with full production expected by the end of Q1 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on an assumed gold price of $1,200 and
oil price of $45/bbl, the expansion has an estimated IRR of 20% and NPV of $635 million (after tax and unlevered, from April 1,
2016 forward) and is expected to generate $1.16 billion in free cash flow over the life of mine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center; border-bottom: rgb(197,155,95) 2pt solid"></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 80%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Gray">p.
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B>2</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">
    Kinross to proceed with Phase One of Tasiast expansion</FONT></B></td>
    <td style="width: 20%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><i>www.kinross.com</i></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: left"><IMG SRC="ex99-1logo.jpg" ALT=""></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">25 York Street 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Toronto, ON, Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD NOWRAP STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="color: white"><B>Phase One 12,000 t/d Expansion* </B></FONT></TD></TR>
<TR STYLE="background-color: #BFBFBF">
    <TD NOWRAP STYLE="border-left: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 26%"><FONT STYLE="color: white"><B>Timeline</B></FONT></TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 46%"><FONT STYLE="color: white"><B>Operational metric</B></FONT></TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 28%"><FONT STYLE="color: white"><B>Estimate</B></FONT></TD></TR>
<TR>
    <TD ROWSPAN="7" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2018 &ndash; 2027 </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Mining)</P></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Average annual production (Au oz.)</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">409,000</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Production cost of sales (per ounce)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$535</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">All-in sustaining costs (per ounce)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$760</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Average CIL grade processed (g/t)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">3.12</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Strip ratio</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">7.5</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Average processing cost (per tonne)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$20.58</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Average mining cost (per tonne)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$2.44</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #F2F2F2">
    <TD ROWSPAN="7" STYLE="width: 26%; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2028 &ndash; 2033</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Stockpile milling)</P></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 46%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Average annual production (Au oz.)</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 28%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">173,000</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #F2F2F2">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Production cost of sales (per ounce)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$945</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #F2F2F2">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">All-in sustaining costs (per ounce)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$995</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #F2F2F2">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Average CIL grade processed (g/t)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">1.34</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #F2F2F2">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Strip ratio</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">N/A</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #F2F2F2">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Average processing cost (per tonne)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$20.60</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #F2F2F2">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Average mining cost (per tonne)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">N/A</TD></TR>
<TR>
    <TD ROWSPAN="7" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2018 &ndash; 2033</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Life of project)</P></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Average annual production (Au oz.)</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">329,000</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Production cost of sales (per ounce)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$610</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">All-in sustaining costs (per ounce)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$805</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Average CIL grade processed (g/t)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">2.52</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Strip ratio</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">7.5</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Average processing cost (per tonne)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$20.59</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Average mining cost (per tonne)</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">$2.55</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>*Based on a $1,200 per ounce gold price
assumption and oil price assumption of $45/bbl and no Phase Two expansion. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #C59B5F"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 72%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="background-color: black">
    <TD NOWRAP STYLE="width: 78%; border-left: Black 1pt solid; padding: 2pt 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: white"><b>Forecast Phase One 12,000 t/d
        </b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: white"><b>Capital Costs</b><sup>2</sup><b>
        </b></P></td>
    <TD NOWRAP STYLE="width: 22%; border-bottom: Black 1pt solid; padding: 2pt 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>($ millions)</b></font></td></tr>
<tr>
    <td style="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Direct cost (including freight)</font></td>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 0.3in; padding-left: 5.4pt; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">175</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indirect and owner&rsquo;s cost</font></td>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 0.3in; padding-left: 5.4pt; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Taxes/duties</font></td>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 0.3in; padding-left: 5.4pt; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contingency</font></td>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 0.3in; padding-left: 5.4pt; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</font></td></tr>
<tr>
    <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></font></td>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.3in; padding-left: 5.4pt; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>300</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #C59B5F"><B>Phase One financing and
revised guidance for 2016 capital expenditure</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">With the completion of the acquisition of Bald
Mountain and 50% of Round Mountain in January, and the recently completed bought deal equity offering (including the exercise of
the 15% over-allotment option in March), Kinross has a pro-forma cash balance of approximately $700 million and $1.5 billion available
on its revolving credit facility for total liquidity of approximately $2.2 billion. Following the scheduled repayment of $250 million
in Senior Notes on September 1, 2016, Kinross will have no debt maturities until August 2019. The Company expects that its existing
liquidity sources will be sufficient to fund the completion of the Phase One expansion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the Phase One expansion go-ahead
decision, the Company&rsquo;s capital expenditure guidance for 2016 is now forecast to be $755 million, compared with $595 million
announced on February 10, 2016, as an additional $160 million is expected to be spent on expansion activities this year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"><B>Phase Two 30,000 t/d expansion overview </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Phase Two prefeasibility study contemplates
installing additional mill throughput of 18,000 t/d for a total combined capacity of 30,000 t/d. The potential expansion would
replace the two current ball mills with a new larger ball mill, and add new leaching, thickening and refinery capacity. An additional
60 MW of capacity would be added to the existing power plant to power the 30,000 t/d mill, which is forecast to have an average
production of approximately 777,000 gold ounces a year from 2020-2026, with a forecast cumulative gold production of 6.4 million
ounces to 2030.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center; border-bottom: rgb(197,155,95) 2pt solid"><I>&nbsp;</I></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 80%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Gray">p.
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B>3</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">
    Kinross to proceed with Phase One of Tasiast expansion</FONT></B></td>
    <td style="width: 20%; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><i>www.kinross.com</i></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: left"><IMG SRC="ex99-1logo.jpg" ALT=""></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">25 York Street 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Toronto, ON, Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Production cost of sales is estimated to average $535 per ounce for the life of project, with forecast all-in
sustaining cost of $720 per ounce. Mill grades are expected to average 1.9 g/t. Capital costs for the additional 18,000 t/d expansion
are forecast to be $620 million, plus incremental estimated capitalized stripping of $119 million (2016-2019). The combined estimated
total capital expenditures for Phase One and Phase Two is expected to be approximately $920 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A feasibility study of Phase Two is expected
to be initiated in the second half of 2016, with a potential go-ahead decision targeted for the end of 2017 and construction expected
to commence in early 2018. Based on this timeline, Phase Two could potentially reach full production in early 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on an assumed gold price of $1,200 and
oil price of $45/bbl, the expansion has an estimated IRR of 17% and NPV of $885 million (after tax and unlevered, from April 1,
2016 forward), and is expected to generate $1.66 billion in free cash flow after tax over the life of mine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="background-color: black">
    <TD NOWRAP COLSPAN="5" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Phase Two 30,000 t/d Expansion** </b></font></td></tr>
<tr style="background-color: #BFBFBF">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Timeline</b></font></td>
    <TD NOWRAP COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 2pt 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Operational metric</b></font></td>
    <TD NOWRAP COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2pt 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Estimate</b></font></td></tr>
<tr>
    <td colspan="2" rowspan="7" style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2020 &ndash; 2026</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Mining)</P></td>
    <td nowrap colspan="2" style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average annual production (Au oz.)</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">777,000</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Production cost of sales (per ounce)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$460</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All-in sustaining costs (per ounce)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$665</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average CIL grade processed (g/t)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.37</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strip ratio</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.4</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average processing cost (per tonne)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$15.00</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average mining cost (per tonne)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2.26</font></td></tr>
<tr style="background-color: #F2F2F2">
    <td colspan="2" rowspan="7" style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2027 &ndash; 2030</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Stockpile milling)</P></td>
    <td nowrap colspan="2" style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average annual production (Au oz.)</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">285,000</font></td></tr>
<tr style="vertical-align: bottom; background-color: #F2F2F2">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Production cost of sales (per ounce)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$940</font></td></tr>
<tr style="vertical-align: bottom; background-color: #F2F2F2">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All-in sustaining costs (per ounce)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,000</font></td></tr>
<tr style="vertical-align: bottom; background-color: #F2F2F2">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average CIL grade processed (g/t)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.88</font></td></tr>
<tr style="vertical-align: bottom; background-color: #F2F2F2">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strip ratio</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</font></td></tr>
<tr style="vertical-align: bottom; background-color: #F2F2F2">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average processing cost (per tonne)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$15.47</font></td></tr>
<tr style="vertical-align: bottom; background-color: #F2F2F2">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average mining cost (per tonne)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</font></td></tr>
<tr>
    <td colspan="2" rowspan="7" style="border-right: Black 1pt solid; border-left: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2020 &ndash; 2030</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Life of project)</P></td>
    <td nowrap colspan="2" style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average annual production (Au oz.)</font></td>
    <TD NOWRAP STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">612,000</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Production cost of sales (per ounce)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$535</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All-in sustaining costs (per ounce)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$720</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average CIL grade processed (g/t)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.87</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strip ratio</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.4</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average processing cost (per tonne)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$15.16</font></td></tr>
<tr style="vertical-align: bottom">
    <td nowrap colspan="2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average mining cost (per tonne)</font></td>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2.37</font></td></tr>
<tr>
    <TD STYLE="width: 23%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></td>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></td>
    <TD STYLE="width: 45%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></td>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></td>
    <TD STYLE="width: 27%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>**Based on a $1,200 per ounce gold assumption
and oil price assumption of $45/bbl and combined Phase One and Phase Two expansion.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #C59B5F"><B>Expansion capital costs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The combined Phase One and Phase Two expected
capital expenditures of approximately $920 million is significantly lower compared with the 2014 feasibility study estimate of
$1.6 billion for the new-build 38,000 t/d plant. This forecast reduction was achieved through a combination of factors: scale effect
of approximately 20% lower throughput capacity; more efficient leveraging of the existing mill and infrastructure; a leaner approach
to engineering and construction management facilitated by the two-phased approach; and generally more favourable market conditions
for procurement of equipment packages and construction contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center; border-bottom: rgb(197,155,95) 2pt solid"><I>&nbsp;</I></P>

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    <TD STYLE="width: 80%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Gray">p.
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B>4</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">
    Kinross to proceed with Phase One of Tasiast expansion</FONT></B></TD>
    <TD STYLE="width: 20%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><I>www.kinross.com</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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    <TD STYLE="width: 50%; font-size: 10pt; text-align: left"><IMG SRC="ex99-1logo.jpg" ALT=""></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">25 York Street 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Toronto, ON, Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 65%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: black; color: White">
    <TD NOWRAP STYLE="width: 78%; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; color: White"><P STYLE="margin: 0; color: White"><B>Forecast
                                         Phase Two 30,000 t/d Capital Costs<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><SUP>5
                                         </SUP></FONT></B></P>


</td>
    <TD NOWRAP STYLE="width: 22%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; color: White"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>($ millions)</b></font></td></tr>
<tr>
    <td style="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Direct cost (including freight)</font></td>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 0.3in; padding-left: 5.4pt; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">380</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indirect and owner&rsquo;s cost</font></td>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 0.3in; padding-left: 5.4pt; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Taxes/duties</font></td>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 0.3in; padding-left: 5.4pt; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</font></td></tr>
<tr style="vertical-align: top">
    <td style="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contingency </font></td>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 0.3in; padding-left: 5.4pt; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</font></td></tr>
<tr>
    <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></font></td>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.3in; padding-left: 5.4pt; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>620</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #C59B5F"><B>Gold price sensitivity estimates
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"><B>&nbsp;</B></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="background-color: black">
    <TD NOWRAP STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD COLSPAN="5" NOWRAP STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: white"><b>Phase One Expansion (12,000
        t/d)</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: white"><b>Average Gold Price</b></P></td></tr>
<tr style="background-color: black">
    <TD NOWRAP STYLE="width: 18%; border-left: black 1pt solid; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Financial Metric</b></font></td>
    <TD NOWRAP STYLE="width: 13%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>$1,100/oz.</b></font></td>
    <TD NOWRAP STYLE="width: 16%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>$1,200/oz.</b></font></td>
    <TD NOWRAP STYLE="width: 22%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>$1,300/oz.</b></font></td>
    <TD NOWRAP STYLE="width: 14%; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>$1,400/oz.</b></font></td>
    <TD NOWRAP STYLE="width: 17%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>$1,500/oz.</b></font></td></tr>
<tr>
    <td style="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IRR<sup>3</sup></b></font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13%</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20%</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26%</font></td>
    <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">33%</font></td>
    <td style="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40%</font></td></tr>
<tr>
    <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NPV</b><sup>4 </sup>(millions)</font></td>
    <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$345</font></td>
    <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$635</font></td>
    <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$910</font></td>
    <td style="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,180</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,450</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #996600"><B>&nbsp;</B></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="background-color: black">
    <TD NOWRAP STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD COLSPAN="5" NOWRAP STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: white"><b>Combined Phase One and Phase
        Two Expansion (30,000 t/d)</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: white"><b>Average Gold Price</b></P></td></tr>
<tr style="background-color: black">
    <TD NOWRAP STYLE="width: 21%; border-left: black 1pt solid; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>Financial Metric</b></font></td>
    <TD NOWRAP STYLE="width: 12%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>$1,100/oz.</b></font></td>
    <TD NOWRAP STYLE="width: 17%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>$1,200/oz.</b></font></td>
    <TD NOWRAP STYLE="width: 17%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>$1,300/oz.</b></font></td>
    <TD NOWRAP STYLE="width: 15%; border-left: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>$1,400/oz.</b></font></td>
    <TD NOWRAP STYLE="width: 18%; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><b>$1,500/oz.</b></font></td></tr>
<tr>
    <td style="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>IRR<sup>3</sup></b></font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12%</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17%</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22%</font></td>
    <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">27%</font></td>
    <td style="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">33%</font></td></tr>
<tr>
    <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NPV</b><sup>4<b> </b></sup>(millions)</font></td>
    <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$485</font></td>
    <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$885</font></td>
    <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,275</font></td>
    <td style="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,665</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2,055</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #C59B5F"><B>Mineral reserves and mineral
resource estimates<SUP>6</SUP> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #C59B5F"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As the combined Phase One and Phase Two approach
contemplates a lower throughput rate compared with the 2014 feasibility study, and a slightly higher forecast processing cost per
tonne, the pit design was reduced slightly and cut-off grade increased, thereby decreasing the estimated proven and probable mineral
reserves from 9.0 million ounces (as of December 31, 2015) to 8.2 million ounces. Resulting estimated grades increased slightly
from 1.8 g/t to 1.9 g/t. Tasiast&rsquo;s estimated measured and indicated mineral resources also decreased slightly, from 3.4 million
ounces (as of December 31, 2015) to 3.2 million ounces, with estimated grades increasing to 1.3 g/t from 1.2 g/t.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Phase One feasibility study and Phase Two
pre-feasibility study form the economic basis of the estimated proven and probable mineral reserves. Estimated measured and indicated
mineral resources that were not converted to mineral reserves, and inferred mineral resources, are not included in the life of
mine plan and economic analysis. The studies also do not contemplate promising exploration targets, including the Tamaya deposit
in the Tasiast Sud permit area, approximately 15 kilometres south of the Tasiast mine. The structural trend hosting Tamaya remains
underexplored and is considered highly prospective for the definition of new mineralization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><SUP>6</SUP> <I>These updated estimates are different from those
reported in the 2015 fourth-quarter and year-end results news release dated February 10, 2016. For further information see the
Company&rsquo;s National Instrument 43-101 Technical Report for Tasiast dated March 30, 2016, or Annual Information Form of the
same date, available at www.kinross.com</I><I> and under the Company&rsquo;s profile on SEDAR (www.sedar.com</I><I>).</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center; border-bottom: rgb(197,155,95) 2pt solid"><I>&nbsp;</I></P>

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    <TD STYLE="width: 80%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Gray">p.
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B>5</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">
    Kinross to proceed with Phase One of Tasiast expansion</FONT></B></TD>
    <TD STYLE="width: 20%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><I>www.kinross.com</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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    <TD STYLE="width: 50%; font-size: 10pt; text-align: left"><IMG SRC="ex99-1logo.jpg" ALT=""></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">25 York Street 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Toronto, ON, Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: black; color: White">
    <TD COLSPAN="4" NOWRAP STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; color: White">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: White"><b>&nbsp;</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: White"><b>Tasiast Proven and Probable
        Mineral Reserves </b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: White">(Closing Balance Dec. 31, 2015)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: White"><b>&nbsp;</b></P></td></tr>
<tr>
    <TD NOWRAP STYLE="vertical-align: top; width: 20%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <TD NOWRAP STYLE="width: 26%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Tonnes</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(kt)</b></P></td>
    <TD NOWRAP STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Grade</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(Au g/t)</b></P></td>
    <TD NOWRAP STYLE="width: 30%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Ounces</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(koz)</b></P></td></tr>
<tr>
    <td style="vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Proven<sup>7</sup></b></font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30,467</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.4</font></td>
    <td style="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,406</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Probable</b></font></td>
    <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101,711</font></td>
    <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,813</font></td></tr>
<tr>
    <td style="vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>132,178</b></font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.9</b></font></td>
    <td style="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8,219</b></font></td></tr>
<tr>
    <td style="vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stockpile </b></font></td>
    <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8,045</b></font></td>
    <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.0</b></font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>264</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: black; color: White">
    <TD COLSPAN="4" NOWRAP STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; color: White">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: White"><b>&nbsp;</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: White"><b>Tasiast Measured and Indicated
        Mineral Resources</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: White">(Closing Balance Dec. 31, 2015)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: White"><b>&nbsp;</b></P></td></tr>
<tr>
    <TD NOWRAP STYLE="vertical-align: top; width: 20%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <TD NOWRAP STYLE="width: 26%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Tonnes</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(kt)</b></P></td>
    <TD NOWRAP STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Grade</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(Au g/t)</b></P></td>
    <TD NOWRAP STYLE="width: 30%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Ounces</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(koz)</b></P></td></tr>
<tr>
    <TD STYLE="vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Measured<sup>8</sup></b></font></td>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,611</font></td>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.8</font></td>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">230</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Indicated</b></font></td>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">66,236</font></td>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.4</font></td>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,980</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></font></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">74,847</font></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3</font></td>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,210</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stockpile </b></font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>293</b></font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>0.6</b></font></td>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: black; color: White">
    <TD COLSPAN="4" NOWRAP STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; color: White">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: White"><b>&nbsp;</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: White"><b>Tasiast Inferred Mineral Resources </b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: White">(Closing Balance Dec. 31, 2015)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: White"><b>&nbsp;</b></P></td></tr>
<tr>
    <TD NOWRAP STYLE="vertical-align: top; width: 20%; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <TD NOWRAP STYLE="width: 26%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Tonnes</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(kt)</b></P></td>
    <TD NOWRAP STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Grade</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(Au g/t)</b></P></td>
    <TD NOWRAP STYLE="width: 30%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Ounces</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>(koz)</b></P></td></tr>
<tr>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inferred</b></font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,596</font></td>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.9</font></td>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">346</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><SUP>7</SUP> <I>Proven mineral reserve estimates include the reserve</I><FONT STYLE="color: #1F497D">
</FONT><I>stockpile.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><SUP>8</SUP> <I>Measured mineral resource estimates include the
resource stockpile.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center; border-bottom: rgb(197,155,95) 2pt solid"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 80%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Gray">p.
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B>6</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">
    Kinross to proceed with Phase One of Tasiast expansion</FONT></B></TD>
    <TD STYLE="width: 20%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><I>www.kinross.com</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: left"><IMG SRC="ex99-1logo.jpg" ALT=""></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">25 York Street 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Toronto, ON, Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"><B>Presentation and question and answer session</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with this news release, Kinross&rsquo;
management team will hold a presentation followed by a question and answer session at 1 p.m. ET to discuss details of the studies.
The presentation will be available via audio webcast on our website at <FONT STYLE="color: Blue"><U>www.kinross.com</U></FONT>,
where it will be archived.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"><B>About Kinross Gold Corporation </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Kinross is a Canadian-based gold mining company
with mines and projects in Brazil, Chile, Ghana, Mauritania, Russia, and the United States. Kinross maintains listings on the Toronto
Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).</P>

<P STYLE="color: gray; font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"><B>Media Contact </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Louie Diaz</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Director, Corporate Communications</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Phone: 416-369-6469</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="color: Blue"><U>louie.diaz@kinross.com</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"><B>Investor Relations Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Tom Elliott</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Senior Vice-President, Investor Relations and Corporate Development</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Phone: 416-365-3390</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: Blue"><U>tom.elliott@kinross.com</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center; border-bottom: rgb(197,155,95) 2pt solid"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 80%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Gray">p.
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B>7</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">
    Kinross to proceed with Phase One of Tasiast expansion</FONT></B></TD>
    <TD STYLE="width: 20%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><I>www.kinross.com</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>



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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: left"><IMG SRC="ex99-1logo.jpg" ALT=""></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">25 York Street 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Toronto, ON, Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C59B5F">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #C59B5F"><B>Cautionary Statement on
forward-looking information </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>All statements, other than statements of
historical fact, contained or incorporated by reference in this news release including, but not limited to, any information as
to the future financial or operating performance of Kinross, constitute &ldquo;forward-looking information&rdquo;
or &ldquo;forward-looking statements&rdquo; within the meaning of certain securities laws, including the provisions
of the Securities Act (Ontario) and the provisions for &ldquo;safe harbor&rdquo; under the United States Private
Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release.
Forward-looking statements contained in this news release include those under the heading, or headings containing the phrases &ldquo;Phase
One&rdquo;, &ldquo;Phase Two&rdquo; &ldquo;CEO Commentary&rdquo;, &ldquo;Expansion capital costs&rdquo;, &ldquo;Gold Price Sensitivity
Estimates&rdquo;, and &ldquo;Mineral reserve and mineral resource estimate&rdquo;, and include, without limitation, statements
with respect to: our estimates, expectations, forecasts and guidance for production, production costs of sales, all-in sustaining
cost and capital expenditures, cost savings, project economics; as well as references to other possible events, the future price
of gold and silver, the estimation of mineral reserves and mineral resources, the realization of mineral reserve and mineral resource
estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of
the development of expansion development and mining activities, permitting timelines, currency fluctuations, requirements for additional
capital, government regulation of mining operations, and environmental risks. The words &ldquo;anticipates&rdquo;, &ldquo;compelling&rdquo;,
&ldquo;contemplate&rdquo;, &ldquo;design&rdquo;, &ldquo;estimate&rdquo;, &ldquo;expect&rdquo;, &ldquo;explore&rdquo;,
&ldquo;feasibility&rdquo;, &ldquo;focus&rdquo;, &lsquo;&lsquo;forecast&rdquo;, &ldquo;future&rdquo;, &ldquo;guidance&rdquo;, &ldquo;indicate&rdquo;,
&ldquo;liquidity&rdquo;, &ldquo;model&rdquo;, &ldquo;near term&rdquo;, &ldquo;opportunity&rdquo;, &ldquo;optimize&rdquo;, &ldquo;phased&rdquo;,
&ldquo;potential&rdquo;, &ldquo;prefeasibility&rdquo;, &ldquo;pro forma&rdquo;, &ldquo;projected&rdquo;, &ldquo;promising&rdquo;,
&ldquo;prospective&rdquo;, &ldquo;schedule&rdquo;, &ldquo;study&rdquo; &ldquo;target&rdquo; or &ldquo;timeline&rdquo;, or variations
of or similar such words and phrases or statements that certain actions, events or results &lsquo;&lsquo;may&rsquo;&rsquo;, &lsquo;&lsquo;could&rsquo;&rsquo;,
&ldquo;will&rdquo; or &lsquo;&lsquo;would&rsquo;&rsquo; occur, 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, models and assumptions of Kinross referenced, contained or incorporated by reference in this news release, which
may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in our Annual Information
Form dated March 30, 2016 and our full-year 2015 Management&rsquo;s Discussion and Analysis as well as: (1) there being no significant
disruptions affecting the operations of the Company&nbsp;whether due to extreme weather events and other or related natural disasters,
labour disruptions, supply disruptions, power disruptions, damage to equipment or otherwise; (2) permitting, development, operations
and production from the Company's operations being consistent with Kinross' current expectations; (3) political and legal developments
in any jurisdiction in which the Company operates being consistent with its current expectations including, without limitation,
potential amendments to customs and mining laws (including but not limited amendments to the VAT) in Mauritania being consistent
with Kinross' current expectations; (4) the exchange rate between the currencies in which the Company does business including but
not limited to Canadian dollar, Mauritanian ouguiya, and the U.S. dollar being approximately consistent with current levels; (5)
certain price assumptions for gold and silver; (6) prices for diesel, natural gas, fuel oil, electricity and other key supplies
being approximately consistent with current levels; (7) production and cost of sales forecasts for the Company meeting expectations;
(8) the accuracy of the current mineral reserve and mineral resource estimates of the Company (including but not limited to ore
tonnage and ore grade estimates); (9) labour and materials costs increasing on a basis consistent with Kinross' current expectations;
(10) the terms and conditions of the legal and fiscal stability agreement for the Tasiast being interpreted and applied in a manner
consistent with its intent and Kinross' expectations; (11) goodwill and/or asset impairment potential; and (12) access to capital
markets, including but not limited Kinross&rsquo; credit rating, being consistent with the Company's 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: international economic sanctions (any other similar restrictions or penalties) now or
subsequently imposed, other actions taken, by, against, in respect of or otherwise impacting any jurisdiction in which the Company
is domiciled or operates (including but not limited to the Russian Federation, Canada, the European Union and the United States),
or any government or citizens of, persons or companies domiciled in, or the Company's business, operations or other activities
in, any such jurisdiction; litigation commenced, or other claims or actions brought, against the Company (and/or any of its directors,
officers or employees); fluctuations in the currency markets; fluctuations in the spot and forward price of gold or certain other
commodities (such as fuel and electricity); changes in the discount rates applied to calculate the present value of net future
cash flows based on country-specific real weighted average cost of capital; changes in the market valuations of peer group gold
producers and the Company, and the resulting impact on market price to net asset value multiples; changes in various market variables,
such as interest rates, foreign exchange rates, gold or silver prices and lease rates, or global fuel prices, that could impact
the mark-to-market value of outstanding derivative instruments and ongoing payments/receipts under any financial 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 (including but not limited to income tax, advance income tax, stamp tax, withholding
tax, capital tax, tariffs, value-added or sales tax, capital outflow tax, capital gains tax, windfall or windfall profits tax,
royalty, excise tax, customs/import or export taxes/duties, asset taxes, asset transfer tax, property use or other real estate
tax, together with any related fine, penalty, surcharge, or interest imposed in connection with such taxes), controls, policies
and regulations; the security of personnel and assets; political or economic developments in countries in which Kinross does business
or may carry on business including but not limited to Mauritania; our ability to successfully integrate acquisitions and complete
divestitures; operating or technical difficulties in connection with mining or development activities; employee relations; litigation
or other claims against, or regulatory investigations and/or any enforcement actions or sanctions in respect of the Company (and/or
its directors, officers, or employees) including, but not limited to, securities class action litigation in Canada and/or the United
States, or any investigations, enforcement actions and/or sanctions under any applicable anti-corruption, international sanctions
and/or anti-money laundering laws and regulations in Canada, the United States or any other applicable jurisdiction; the speculative
nature of gold exploration and development including, but not limited to, 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 the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks). Many
of these uncertainties and contingencies can directly or indirectly affect, and could cause, Kinross' actual results to differ
materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Kinross, including but not
limited to resulting in an impairment charge on goodwill and/or assets. 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.
Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating
to the future. All of the forward-looking statements made in this news release are qualified by these cautionary statements and
those made in our other filings with the securities regulators of Canada and the United States including, but not limited to, the
cautionary statements made in the &quot;Risk Factors&quot; section of our Annual Information Form dated March 30, 2016 and the
&quot;Risk Analysis&quot; section of our full year 2015 Management&rsquo;s Discussion&amp; Analysis. These factors are not intended
to represent a complete list of the factors that could affect Kinross. Kinross disclaims any intention or obligation to update
or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking
statements, except to the extent required by applicable law.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Other information</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Where we say &ldquo;we&rdquo;,
&ldquo;us&rdquo;, &ldquo;our&rdquo;, the &ldquo;Company&rdquo;, or &ldquo;Kinross&rdquo;
in this news release, we mean Kinross Gold Corporation and/or one or more or all of its subsidiaries, as may be applicable.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>For impairment assessment purposes, the
Company considers the Feasibility Study results as well as other factors including, but not limited to, Tasiast&rsquo;s estimated
mineral resources and additional exploration potential, consensus gold prices, and NAV multiples. As a result, the values determined
under the Company&rsquo;s impairment analysis at December 31, 2015 may differ from the NPV values resulting from the FS.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>The technical information about Tasiast
(other than exploration potential and activities) contained in this news release has been prepared under the supervision of and
verified by Mr. John Sims, an officer of the Company who is a &ldquo;qualified person&rdquo; within the meaning of National Instrument
43-101 (&ldquo;NI 43-101&rdquo;). The technical information about the Company&rsquo;s exploration potential and activities contained
in this news release has been prepared under the supervision of and verified by Mr. Sylvain Guerard, an officer of the Company
who is a &ldquo;qualified person&rdquo; within the meaning of NI 43-101.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center; border-bottom: rgb(197,155,95) 2pt solid"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 80%; font-style: normal; font-weight: normal"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; font-style: normal; color: Gray">p.
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B>8</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">
    Kinross to proceed with Phase One of Tasiast expansion</FONT></B></TD>
    <TD STYLE="width: 20%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><I>www.kinross.com</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>



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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
