<SEC-DOCUMENT>0001104659-20-019750.txt : 20200213
<SEC-HEADER>0001104659-20-019750.hdr.sgml : 20200213
<ACCEPTANCE-DATETIME>20200213084208
ACCESSION NUMBER:		0001104659-20-019750
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20200212
FILED AS OF DATE:		20200213
DATE AS OF CHANGE:		20200213

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:		20607152

	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>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm207819d1_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0"></P>

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of February, 2020</P>

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Form 20-F&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT>&#9;&nbsp;&nbsp;&nbsp;Form 40-F&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Yes&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT>&#9;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Current Report on Form 6-K, dated
Feb 12, 2020 is specifically incorporated by reference into Kinross Gold Corporation's Registration Statements on Form S-8 [Registration
No. 333-217099, filed on April 3, 2017 and Registration Nos. 333-180824, 333-180823 and 333-180822, filed on April 19, 2012.]</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This report on Form 6-K is being furnished
for the sole purpose of providing copies of the two press releases dated February 12, 2020 in which Kinross Gold Corporation reported
results for the fourth quarter and full-year ended December 31, 2019 and provided an update on development projects and 2019 full-year
exploration results.</P>

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

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

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

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

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

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

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

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

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><A HREF="tm207819d1_ex99-1.htm">99.1</A></TD><TD STYLE="text-align: left"><A HREF="tm207819d1_ex99-1.htm">Press Release dated February 12, 2020 in which Kinross reported fourth-quarter and full year results</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><A HREF="tm207819d1_ex99-2.htm">99.2</A></TD><TD STYLE="text-align: left"><A HREF="tm207819d1_ex99-2.htm">Press Release dated February 12, 2020 in which Kinross provided an update on development projects
and 2019 full-year exploration results.</A></TD></TR></TABLE>

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

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="width: 33%; text-align: right">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 5in"><B>KINROSS GOLD
CORPORATION</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 5in">Signed: //Kathleen M. Grandy//&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 5in">Vice President, Legal and Corporate
Secretary&#9;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">February 12, 2020</P>

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

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

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

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



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

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm207819d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: gray"><B></B></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"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</td>
    <td style="width: 50%">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><b>Kinross Gold Corporation</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</p></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: gray"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: gray"><B>For more information, </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: gray"><B>please see Kinross&rsquo;
2019 Q4/year-end<BR>
Financial Statements and MD&amp;A </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="color: gray"><B>at </B></FONT><B><U>www.kinross.com</U></B></P>

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

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #C59B5F"><B>Kinross reports 2019
fourth-quarter and full-year results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #C59B5F">Meets production and cost
guidance for eighth consecutive year</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #C59B5F">Tasiast delivers record
annual production and costs; Paracatu achieves record annual production</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #C59B5F">Solid production with lower
all-in sustaining cost per ounce and capital expenditures forecast in 2020</P>

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

<P STYLE="border-bottom: rgb(197,155,95) 2.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #C59B5F">&nbsp;</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Toronto, Ontario &ndash; February 12,
2020 </B>&ndash; Kinross Gold Corporation (TSX: K, NYSE: KGC) today announced its results for the fourth-quarter and year-end December
31, 2019.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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 21 of this 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: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>2019 full-year results and 2020 guidance:</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"></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 STYLE="width: 31%; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 20%; 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: 0pt 0; text-align: center; color: white"><B>2019 guidance </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(+/- 5%)</I></P></TD>
    <TD STYLE="width: 24%; border-top: black 1pt solid; 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; color: white"><B>2019 full-year results</B></FONT></TD>
    <TD STYLE="width: 25%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2020 guidance </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(+/- 5%)</I></P></TD></TR>
<TR>
    <TD STYLE="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"><B>Gold equivalent production</B><SUP>1</SUP></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(ounces)</P></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">2.5 million</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">2.5 million</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.4 million</FONT></TD></TR>
<TR>
    <TD STYLE="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: justify"><B>Production cost of sales</B><SUP>1,
2</SUP></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">($ per Au eq. oz.)</P></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">$730</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">$706</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$720</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>All-in sustaining cost</B><SUP>1, 2</SUP></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">($ per Au eq. oz.)&nbsp;</P></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">$995</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">$983</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$970</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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Capital expenditures</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">$1,050 million</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">$1,105 million<SUP>3</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$900 million<SUP>3</SUP></FONT></TD></TR>
</TABLE>



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>J. Paul Rollinson, President and CEO, made the following
comments in relation to 2019 fourth-quarter and year-end results: </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;In 2019, our portfolio of mines
performed strongly, as we increased production and lowered costs year-over-year and generated robust free cash flow. Our strong
performance ensured we met our production, cost and capital guidance for the eighth consecutive year.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;Our three largest producers in 2019
 &ndash; Paracatu, Kupol and Tasiast &ndash; accounted for 61% of our total production and delivered the lowest costs in the portfolio.
Paracatu and Tasiast each had an outstanding year, posting record annual production, with Tasiast also delivering record low costs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;In terms of 2019 financial performance,
Kinross increased operating cash flow by 55% to $1.2 billion, more than tripled adjusted net earnings to $423 million, grew our
margins by 28%, and improved liquidity to $2 billion while continuing to invest in our development projects.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;We also took steps to strengthen
our future production profile. We approved and launched the capital efficient Tasiast 24k expansion project and completed the IFC-led
project financing. We improved our development pipeline by acquiring the high-quality and highly prospective Chulbatkan project
in Russia and are now proceeding with the La Coipa Restart project in Chile. In addition, we made excellent progress at our U.S.
projects, commencing production at our Round Mountain Phase W and Bald Mountain Vantage Complex projects in Nevada, and advancing
Fort Knox Gilmore in Alaska.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;In 2020, we expect to continue our
strong performance, producing approximately 2.4 million gold equivalent ounces, with all-in sustaining costs and capital expenditures
guidance lower than last year. In 2021, generating strong free cash flow will continue to be a priority, with production expected
to be at or above 2019 levels and capital expenditures and all-in sustaining costs expected to decrease compared with 2020. We
currently expect a further reduction in capital expenditures and all-in sustaining costs for 2022, with production expected to
remain at the 2.5 million ounce level.&rdquo;</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>1 Unless otherwise stated, production
figures in this news release are based on Kinross&rsquo; 90% share of Chirano production.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal"><I>2</I></FONT><I> These
figures are non-GAAP financial measures and are defined and reconciled on pages 16 to 20 of this news release. </I></P>

<P STYLE="margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>3</I></FONT> 2020 capital
expenditures guidance excludes capitalized interest of $55 million. The 2019 capital expenditures guidance and capital expenditures
results includes capitalized interest of $65 million and $45 million, respectively.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="vertical-align: top"><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; width: 86%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><b>p.
                                         1 </b></font><b> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">Kinross reports 2019 fourth-quarter and full-year
results</font></b></td><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; font-size: 10pt; text-align: right; width: 14%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><b><i>www.kinross.com</i></b></font></td></tr>
</TABLE>

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

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

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

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

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

<P STYLE="margin: 0pt"><B></B></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"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</td>
    <td style="width: 50%">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><b>Kinross Gold Corporation</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</p></td></tr>
</table>
<P STYLE="margin: 0pt"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>2019 Q4 and full-year highlights: </B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Production</B><SUP>1</SUP><B>: </B>645,344 gold equivalent ounces (Au eq. oz.) in Q4 2019 and
2,507,659 Au eq. oz. in 2019.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Revenue: </B>$996.2 million in Q4 2019 and $3,497.3 million in 2019.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Production cost of sales</B><SUP>2</SUP><B>: </B>$744 per Au eq. oz. in Q4 2019 and $706 per
Au eq. oz. in 2019.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>All-in sustaining cost</B><SUP>2</SUP><B>: </B>$1,050 per Au eq. oz. sold in Q4 2019 and $983
per Au eq. oz. sold in 2019. All-in sustaining cost per Au oz. sold on a by-product basis was $1,041 in Q4 2019 and $974 per Au
oz. sold in 2019.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Operating cash flow: </B>$408.6 million in Q4 2019 and $1,224.9 million in 2019.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Adjusted operating cash flow</B><SUP>2</SUP><B>: </B>$387.6 million in Q4 2019 and $1,201.5
million for 2019.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Reported net earnings</B><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black"><SUP>1</SUP></FONT><B>:
</B>$521.5 million, or $0.41 per share in Q4 2019, and $718.6 million, or $0.57 per share, in 2019.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Adjusted net earnings</B><SUP>2,3</SUP><B>:</B> adjusted net earnings of $156.0 million, or
$0.13 per share in Q4 2019, and adjusted net earnings of $422.9 million, or $0.34 per share, in 2019.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Margins</B><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black"><SUP>2</SUP></FONT><B>:
</B>attributable margins of $741 per Au eq. oz. sold in Q4 2019 and $686 per Au eq. oz. sold for 2019.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Paracatu</B> delivered record annual production of approximately 620,000 Au eq. oz., mainly
due to benefits from an asset optimization program that improved mill efficiencies and enhanced the understanding of the orebody.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Tasiast </B>achieved record production and costs in 2019, as the mine continued to benefit from
the Phase One expansion and the mill&rsquo;s strong performance. Year-over-year production increased by 140,000 Au eq. oz., or
56%, with cost of sales per ounce decreasing by $374 per ounce sold, or 38%.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Kupol-Dvoinoye </B>production was 8% higher year-over-year primarily due to higher-grade ore
processed from Kupol&rsquo;s Northeast Extension and Moroshka deposits.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>Round Mountain </B>performed well in full-year 2019 with the completion of the Phase W project
and increases in ounces recovered from the heap leach pads and lower full-year cost of sales.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Cash and cash equivalents</B> of $575.1
million, and total <B>liquidity</B> of $2,028.2 million at December 31, 2019. No debt maturities until September 2021. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Completed the $300 million project financing
for Tasiast with the IFC (a member of the World Bank Group), Export Development Canada and two commercial banks. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sold remaining shares in Lundin Gold Inc.
for gross proceeds of approximately $113 million.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sold royalty portfolio to Maverix Metals
Inc. (&ldquo;Maverix&rdquo;) for total consideration of approximately $74 million, which includes $25 million in cash and approximately
11.2 million Maverix common shares.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Environment, Social, Governance (ESG):</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Maintained industry-leading health and
safety performance. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Delivered strong environmental management
and sustainability performance; achieved lowest energy-use and greenhouse gas emission intensities among gold industry peers. </FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Published best practice approach to safe
and responsible tailings management, based on an overriding commitment to safety and environmental stewardship.</FONT></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: 0pt 0"></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Governance standards continued to be robust:
achieved 33% Board gender diversity target and welcomed two new independent Board members. </FONT></TD></TR></TABLE>



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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>4 Net earnings/loss figures in this release represent
 &ldquo;net (loss) earnings from continuing operations attributable to common shareholders&rdquo;</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5<I> Attributable margin per equivalent ounce
sold is a non-GAAP financial measure defined as &ldquo;average realized gold price per ounce&rdquo; less &ldquo;attributable production
cost of sales per gold equivalent ounce sold.&rdquo;</I></P>



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

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

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                                         2 </b></font><b> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">Kinross reports 2019 fourth-quarter and full-year
results</font></b></td><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; font-size: 10pt; text-align: right; width: 14%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><b><i>www.kinross.com</i></b></font></td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <td style="width: 50%; font-size: 10pt"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</td>
    <td style="width: 50%">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><b>Kinross Gold Corporation</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</p></td></tr>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;&nbsp;</B></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Summary of financial and operating results</B></P>

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

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <TD STYLE="border-left: Black 2pt solid; border-top: Black 2pt solid; font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; color: black"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; color: black; text-align: center"><FONT STYLE="font-style: normal">Three
    months ended</FONT></TD><TD STYLE="border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; color: black"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; color: black"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; color: black; text-align: center"><FONT STYLE="font-style: normal">Years
    ended</FONT></TD><TD STYLE="border-right: Black 2pt solid; border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; color: black"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: black; padding-bottom: 1pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: black; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-style: normal">December
    31,</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; color: black"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: black; padding-bottom: 1pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: black; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-style: normal">December
    31,</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: black"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt solid; border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-weight: normal">(in
    millions, except ounces, per share amounts, and per ounce amounts)</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-style: normal">2019</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-style: normal; font-weight: normal">2018</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-style: normal">2019</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-style: normal; font-weight: normal">2018</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-style: normal">Operating
    Highlights</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-right: Black 2pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Total
    gold equivalent ounces<SUP>(1)</SUP></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-right: Black 2pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; width: 48%; font: bold 10pt Times New Roman, Times, Serif; text-indent: 8pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Produced<SUP>(3)</SUP></FONT></TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="width: 10%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">650,242</FONT></TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="width: 10%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">615,279</FONT></TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="width: 10%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">2,527,788</FONT></TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="width: 10%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">2,475,068</FONT></TD><TD STYLE="border-right: Black 2pt solid; width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-indent: 8pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Sold<SUP>(3)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">670,917</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">641,101</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">2,512,758</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">2,532,912</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt; font-weight: bold; padding-left: 0.75pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-right: Black 2pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Attributable
    gold equivalent ounces<SUP>(1) </SUP></FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-right: Black 2pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-indent: 8pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Produced<SUP>(3)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">645,344</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">610,152</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">2,507,659</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">2,452,398</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-indent: 8pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Sold<SUP>(3)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">666,199</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">636,183</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">2,492,572</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">2,510,419</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt; font-weight: bold; padding-left: 0.75pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-right: Black 2pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-style: normal">Financial
    Highlights</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-right: Black 2pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-style: normal; font-weight: normal">Metal
    sales</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">996.2</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">786.5</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">3,497.3</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">3,212.6</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-style: normal; font-weight: normal">Production
    cost of sales</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">500.5</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">476.4</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">1,778.9</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">1,860.5</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-style: normal; font-weight: normal">Depreciation,
    depletion and amortization</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">210.4</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">184.3</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">731.3</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">772.4</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-style: normal; font-weight: normal">Reversals
    of impairment charges</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">(361.8</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">-</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">(361.8</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">-</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-style: normal; font-weight: normal">Operating
    earnings</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">568.8</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">25.1</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">991.1</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">200.5</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-style: normal; font-weight: normal">Net
    earnings (loss) attributable to common shareholders</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">521.5</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">(27.7</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">718.6</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">(23.6</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-style: normal; font-weight: normal">Basic
    earnings (loss) per share attributable to common shareholders</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">0.41</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">(0.02</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">0.57</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">(0.02</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-style: normal; font-weight: normal">Diluted
    earnings (loss) per share attributable to common shareholders</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">0.41</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">(0.02</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">0.57</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">(0.02</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Adjusted
    net earnings attributable to common shareholders<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">156.0</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">13.5</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">422.9</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">128.1</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Adjusted
    net earnings per share<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">0.13</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">0.01</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">0.34</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">0.10</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-style: normal; font-weight: normal">Net
    cash flow provided from operating activities</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">408.6</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">183.5</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">1,224.9</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">788.7</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Adjusted
    operating cash flow<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">387.6</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">135.8</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">1,201.5</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">874.2</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-style: normal; font-weight: normal">Capital
    expenditures</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">298.2</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">273.0</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">1,105.2</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">1,043.4</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Average
    realized gold price per ounce<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">1,485</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">1,226</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">1,392</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">1,268</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Consolidated
    production cost of sales per equivalent ounce<SUP>(3)</SUP> sold<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">746</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">743</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">708</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">735</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Attributable<SUP>(1)
    </SUP>production cost of sales per equivalent ounce<SUP>(3)</SUP> sold<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">744</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">743</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">706</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">734</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Attributable<SUP>(1)
    </SUP>production cost of sales per ounce sold on a by-product basis<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">728</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">733</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">691</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">723</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Attributable<SUP>(1)
    </SUP>all-in sustaining cost per ounce sold on a by-product basis<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">1,041</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">955</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">974</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">959</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Attributable<SUP>(1)
    </SUP>all-in sustaining cost per equivalent ounce<SUP>(3)</SUP> sold<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">1,050</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">961</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">983</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">965</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Attributable<SUP>(1)
    </SUP>all-in cost per ounce sold on a by-product basis<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">1,337</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">1,287</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">1,282</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">1,275</FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Attributable<SUP>(1)
    </SUP>all-in cost per equivalent ounce<SUP>(3)</SUP> sold<SUP>(2)</SUP></FONT></TD><TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">1,340</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">1,286</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal">1,284</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">$</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-style: normal; font-weight: normal">1,274</FONT></TD><TD STYLE="border-bottom: Black 2pt solid; border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 1pt; font-style: normal; font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-weight: normal"><I>(1)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-style: normal; font-weight: normal">&quot;Total&quot;
                                         includes 100% of Chirano production. &quot;Attributable&quot; includes Kinross' share
                                         of Chirano (90%) production.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-weight: normal">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-style: normal; font-weight: normal">The
                                         definition and reconciliation of these non-GAAP financial measures is included on pages
                                         16 to 20 of this news release.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>(3)</I></TD><TD STYLE="text-align: justify"><FONT STYLE="font-style: normal; font-weight: normal">&ldquo;Gold
                                         equivalent ounces&rdquo; include silver ounces produced and sold converted to a gold
                                         equivalent based on a ratio of the average spot market prices for the commodities for
                                         each period. The ratio for 2019 was 85.99:1 (2018 - 80.74:1). The ratio for Q4 2019 was
                                         85.59:1 (Q4 2018 - 84.42:1).</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-style: normal; font-weight: normal">The
following operating and financial results are based on fourth-quarter and year-end 2019 gold equivalent production. Production
and cost measures are on an attributable basis:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-style: normal; font-weight: normal"><b>Production</b>:
Kinross produced 645,344 attributable Au eq. oz. in the fourth quarter of 2019, compared with 610,152 in the fourth quarter of
2018, mainly due to record quarterly production at Tasiast and higher production at Round Mountain and Bald Mountain.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-style: normal; font-weight: normal">Kinross
produced 2,507,659 attributable Au eq. oz. for full-year 2019, which was in line with the Company&rsquo;s 2019 annual guidance,
and an increase compared with full-year 2018 production of 2,452,398 Au eq. oz.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-style: normal"><B>Production
</B><FONT STYLE="font-weight: normal"><B>cost of sales</B>: Production cost of sales per Au eq. oz.<SUP>2</SUP> was $744 for Q4 2019,
compared with $743 for the fourth quarter of 2018. Production cost of sales per Au oz. on a by-product basis<SUP>2</SUP> was $728
in Q4 2019, compared with $733 in Q4 2018, based on Q4 2019 attributable gold sales of 652,462 ounces and attributable silver
sales of 1,175,772 ounces.</FONT></FONT></P>

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

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

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

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<tr style="vertical-align: top"><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; width: 86%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><b>p.
                                         3 </b></font><b> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">Kinross reports 2019 fourth-quarter and full-year
results</font></b></td><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; font-size: 10pt; text-align: right; width: 14%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><b><i>www.kinross.com</i></b></font></td></tr>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</td>
    <td style="width: 50%">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><b>Kinross Gold Corporation</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</p></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Production cost of sales per Au eq. oz.
was $706 for full-year 2019, which was at the low end of the Company&rsquo;s 2019 guidance. This compares with production cost
of sales of $734 per Au eq. oz. for full-year 2018. The full-year decrease was mainly due lower costs at Paracatu, Tasiast and
Round Mountain. Production cost of sales per Au oz. on a by-product basis<SUP>2</SUP> was $691 for full-year 2019, compared with
$723 for full-year 2018, based on 2019 attributable gold sales of 2,438,678 ounces and attributable silver sales of 4,633,932 ounces.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>All-in sustaining cost</B><SUP>2</SUP>:
All-in sustaining cost per Au eq. oz. sold was $1,050 in Q4 2019, compared with $961 in Q4 2018. All-in sustaining cost per Au
oz. sold on a by-product basis increased to $1,041 in Q4 2019, compared with $955 in Q4 2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All-in sustaining cost per Au eq. oz. sold
was $983 for full-year 2019, which was within the Company&rsquo;s 2019 guidance range, compared with $965 for full-year 2018. All-in
sustaining cost per Au oz. sold on a by-product basis was $974 for full-year 2019, compared with $959 for full-year 2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Revenue</B>: Revenue from metal sales
was $996.2 million in the fourth quarter of 2019, compared with $786.5 million during the same period in 2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue for full-year 2019 increased to
$3,497.3 million, compared with $3,212.6 million for full-year 2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Average realized gold price</B><SUP>6</SUP>:
The average realized gold price in Q4 2019 increased 21% to $1,485 per ounce, compared with $1,226 per ounce in Q4 2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The average realized gold price per ounce
increased 10% to $1,392 for full-year 2019, compared with $1,268 per ounce for full-year 2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Margins<SUP>5</SUP>:</B> Kinross&rsquo;
attributable margin per Au eq. oz. sold increased 53% to $741 per Au eq. oz. for the fourth quarter of 2019, compared with the
Q4 2018 margin of $483 per Au eq. oz. sold.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Full-year 2019 margin per Au eq. oz. sold
increased 28% to $686, compared with $534 for full-year 2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Operating cash flow</B>: Adjusted operating
cash flow<SUP>2</SUP> increased significantly to $387.6 million for the fourth quarter of 2019, compared with $135.8 million for
Q4 2018. Adjusted operating cash flow for full-year 2019 increased 37% to $1,201.5 million, compared with $874.2 million for full-year
2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net operating cash flow was $408.6 million
for the fourth quarter of 2019, compared with $183.5 million for Q4 2018. Net operating cash flow for full-year 2019 increased
55% to $1,224.9 million, compared with $788.7 million for full-year 2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Impairment reversal</B>: At December
31, 2019, Kinross recorded non-cash after-tax impairment reversals totalling $293.6 million, including $161.1 million at Tasiast
and $132.5 million at Paracatu. The reversals were entirely related to property, plant and equipment, and were mainly due to an
increase in the Company&rsquo;s long-term gold price estimates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Earnings/loss</B>: Adjusted net earnings<SUP>2,3
</SUP>increased to $156.0 million, or $0.13 per share, for Q4 2019, compared with adjusted net earnings of $13.5 million, or $0.01
per share, for Q4 2018. Full-year 2019 adjusted net earnings more than tripled to $422.9 million, or $0.34 per share, compared
with adjusted net earnings of $128.1 million, or $0.10 per share, for full-year 2018, mainly due to higher margins.</P>

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

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Reported net earnings increased to $521.5 million, or $0.41
per share, for Q4 2019, compared with net loss of $27.7 million, or $0.02 per share, in Q4 2018. Full-year 2019 reported net earnings
increased to $718.6 million, or $0.57 per share, compared with net loss of $23.6 million, or $0.02 per share, for full-year 2018.
The increase was mainly due to higher margins, non-cash impairment reversals, a gain of $72.7 million on the sale of the royalty
portfolio, and a decrease in depreciation, depletion and amortization.</P>



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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-style: normal; font-weight: normal">6</FONT>
<I>Average realized gold price is a non-GAAP financial measure and is defined as gold metal sales divided by the total number
of gold ounces sold.</I></P>



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                                         4 </b></font><b> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">Kinross reports 2019 fourth-quarter and full-year
results</font></b></td><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; font-size: 10pt; text-align: right; width: 14%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><b><i>www.kinross.com</i></b></font></td></tr>
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    <TD STYLE="width: 50%">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><b>Kinross Gold Corporation</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</p></td></tr>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Capital expenditures</B><SUP>3</SUP>:
Capital expenditures were $298.2 million for Q4 2019, compared with $273.0 million for the same period last year.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capital expenditures for full-year 2019
were $1,105.2 million, compared with $1,043.4 million for 2018, primarily due to increased spending on projects at Bald Mountain,
Fort Knox and Round Mountain, partially offset by lower spending at Tasiast. Capital expenditures were within the Company&rsquo;s
guidance.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2019, Kinross had cash
and cash equivalents of $575.1 million, compared with $349.0 million at December 31, 2018. The increase was primarily due to net
operating cash flow inflows, partially offset by capital expenditures at the Company&rsquo;s development projects.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has available credit of $1,453.1
million as of year-end 2019, for total liquidity of $2,028.2 million.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><BR>
Mine-by-mine summaries for 2019 fourth-quarter and full-year operating results may be found on pages 11 and 15 of this news release.
Highlights include the following:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Paracatu</B> had an outstanding year
in 2019, achieving record annual production of 619,563 Au eq. oz. while lowering costs. The strong performance was mainly due to
an asset optimization program started in 2018, which resulted in improved mill efficiencies and an enhanced understanding of the
orebody. Full-year production increased approximately 98,000 Au eq. oz., or 19%, compared with 2018, as both throughput and recoveries
improved. Full-year cost of sales per ounce sold decreased by approximately 19% compared with 2018 mainly due to operational efficiencies,
lower power costs, and favourable foreign exchange movements. During Q4 2019 cost of sales per ounce sold increased versus Q3 2019
mainly due to higher maintenance costs, as the crusher was repaired during the quarter. Quarterly production was slightly lower
compared with Q3 2019 mainly due to lower throughput.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Round Mountain</B> performed well for
full-year 2019. While there was a slight year-over-year reduction in annual production, Q4 2019 production increased 26% compared
with Q3 2019 mainly due to strong performance from the heap leach pads as a result of the Phase W project. Full-year cost of sales
per ounce sold was lower versus 2018 primarily due to lower operating waste. Cost of sales per ounce sold in Q4 2019 was largely
in line quarter-over-quarter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At <B>Bald Mountain</B>, full-year production
was lower compared with 2018 mainly due to a slower-than-anticipated ramp up at the Vantage Complex project and unfavourable weather
conditions at the site early in the year. As expected, production was significantly higher in Q4 2019, increasing by 95% compared
with Q3 2019, as more ounces were recovered from the Vantage Complex. Cost of sales per ounce sold for 2019 was higher compared
with 2018 mostly due to lower production. Cost of sales per ounce sold decreased during Q4 2019 compared with Q3 2019 primarily
due an increase in production.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At <B>Fort Knox</B>, production for 2019
was lower compared with 2018 mainly due to a decrease in mill throughput, while 2019 cost of sales per ounce sold increased compared
with the previous year mainly due to lower production and higher maintenance costs. Production and cost of sales per ounce sold
for Q4 2019 were largely in line with the previous quarter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Maricunga</B> delivered higher-than-expected
annual production from the rinsing of materials placed on the heap leach pads prior to the suspension of mining activities. Full-year
cost of sales per ounce sold were largely in line with 2018. The mine has now transitioned into care and maintenance, with final
production occurring in Q4 2019. For tax planning purposes, the sale of residual gold ounces are expected to continue during 2020.</P>



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

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                                         5 </b></font><b> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">Kinross reports 2019 fourth-quarter and full-year
results</font></b></td><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; font-size: 10pt; text-align: right; width: 14%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><b><i>www.kinross.com</i></b></font></td></tr>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Russia region continued its strong
and consistent performance in 2019. Combined full-year production at <B>Kupol</B> and <B>Dvoinoye </B>was 8% higher compared with
2018 primarily due to higher grade ore processed from Kupol&rsquo;s Northeast Extension and Moroshka deposits. Production quarter-over-quarter
was lower primarily due to planned lower mill grades at Kupol. Full-year cost of sales per ounce sold was higher compared with
2018 primarily due to an increase in operating waste mined, and was largely in line quarter-over-quarter.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Tasiast</B> outperformed in 2019, achieving
record production and a record low cost of sales per ounce sold, as the mine continued to benefit from the Phase One expansion
and the mill&rsquo;s strong performance. During 2019, production increased by approximately 140,000 Au eq. oz., or 56%, while cost
of sales decreased by $374 per ounce sold, or 38%, compared with 2018. Tasiast finished the year strongly, achieving a record quarterly
production of 102,973 Au eq. oz. at a cost of sales of $494 per ounce sold, the lowest in its history. The mine also achieved a
record average throughput of 15,000 tonnes per day during the quarter. Higher grades, operational efficiencies and lower operating
waste during Q4 2019 also contributed to a decrease in costs compared with the same period in 2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At <B>Chirano</B>, full-year production
decreased slightly compared with 2018 mainly due to lower grades. Production for Q4 2019 was higher compared with the previous
quarter primarily as a result of improved mill throughput. Cost of sales per ounce sold was higher for full-year 2019 mainly due
to an increase in operating waste mined associated with the return to open pit mining, and was largely in line quarter-over-quarter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #C59B5F"><B>2020 Outlook</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>The following section of the news release
represents forward-looking information and users are cautioned that actual results may vary. We refer to the risks and assumptions
contained in the Cautionary Statement on Forward-Looking Information on page 21 of this news release. </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2020, Kinross expects to produce 2.4
million Au eq. oz. (+/- 5%) from its operations. In 2021, annual production is expected to be at or above 2019 levels, and is expected
to remain at the 2.5 million Au eq. oz. level for 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The slight forecast decrease compared to
full-year 2019 production is primarily due to Maricunga transitioning to care and maintenance, and expected lower production at
Paracatu following its record year, partially offset by an expected production increase at Tasiast and Fort Knox.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Production is expected to be relatively
flat quarter-over-quarter throughout 2020, with a slight increase in the fourth quarter. Tasiast is expected to have higher production
in the first half of the year mainly as a result of higher grade ore. Paracatu and Round Mountain are expected to have higher production
in the second half of the year mainly due to anticipated higher grades at Paracatu and more ounces recovered at Round Mountain
as the benefits of Phase W continue to be realized.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Production cost of sales is expected to
be $720 per Au eq. oz. (+/- 5%) for 2020. The Company expects all-in sustaining cost to be $970 (+/- 5%) per ounce sold on both
a gold equivalent and by-product basis for 2020, which is lower than full-year 2019 all-in sustaining cost per ounce, mainly due
to the expected lower cost of sales per ounce sold and capital expenditures for 2020. All-in sustaining cost per ounce is expected
to decrease in 2021 and 2022, compared with 2020 levels.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below summarizes the 2020 forecast
for production and production cost of sales on a gold equivalent and by-product accounting basis:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="vertical-align: top"><TD STYLE="width: 86%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; border-top: rgb(197,155,95) 2pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B>p.
                                                                                                                                                                6 </B></FONT><B> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">Kinross reports
                                                                                                                                                                2019 fourth-quarter and full-year results</FONT></B></TD><TD STYLE="width: 14%; padding-top: 3pt; font-size: 10pt; text-align: right; border-top: rgb(197,155,95) 2pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 STYLE="border-top: black 1pt solid; text-align: center; width: 60%; 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; color: white">Accounting
basis</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; width: 40%; border-right: 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; color: white"><B>2020 Guidance<BR>
(+/-
5%)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <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"><B>Gold equivalent basis</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Production (Au eq. oz.)<SUP>1,2</SUP></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">2.4 million </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average production cost of sales per Au eq. oz. <SUP>1,2</SUP></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">$720</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All-in sustaining cost per Au eq. oz. <SUP>1,2</SUP></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">$970</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <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"><B>By-product basis</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gold ounces<SUP>1</SUP></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">2.3 million</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Silver ounces</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">&nbsp;4.0 million</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average production cost of sales per Au oz. <SUP>1,2</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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$710</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table provides a summary of the 2020 production
and production cost of sales forecast by region:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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 STYLE="width: 24%; border-top: 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; color: white"><B>Region</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 24%; 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; color: white"><B>Forecast 2020 production</B> <BR>
(Au eq. oz.)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 24%; 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; color: white"><B>Percentage
    of total<BR>
forecast production</B><SUP>7</SUP></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 25%; border-top: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Forecast 2020 production<BR> cost of sales</B> <BR> (per Au eq. oz.)<SUP>2</SUP></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></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>Americas</B></FONT></TD>
    <TD>&nbsp;</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">1.3 million <I>(+/- 5%)</I></FONT></TD>
    <TD>&nbsp;</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">54%</FONT></TD>
    <TD>&nbsp;</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">$770 <I>(+/- 5%)</I></FONT></TD></TR>
<TR>
    <TD STYLE="border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <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>West Africa (attributable)*</B></FONT></TD>
    <TD>&nbsp;</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">600,000 <I>(+/- 10%) </I></FONT></TD>
    <TD>&nbsp;</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">25%</FONT></TD>
    <TD>&nbsp;</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">$670 <I>(+/- 10%) </I></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: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; border-left: black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Russia </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: top; text-align: center; padding-left: 5.4pt"><FONT STYLE="font-family: Sans-Serif; font-size: 9pt; color: Red"><B></B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">500,000 <I>(+/- 3%)</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; vertical-align: bottom; text-align: center; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; border-right: black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$650 <I>(+/- 3%) </I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; border-left: black 1pt solid; vertical-align: bottom; text-align: center; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; vertical-align: top; text-align: center; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; vertical-align: bottom; text-align: center; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; vertical-align: bottom; text-align: center; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <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>Total </B></FONT></TD>
    <TD>&nbsp;</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>2.4 million </B><I>(+/- 5%)</I></FONT></TD>
    <TD>&nbsp;</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>100%</B></FONT></TD>
    <TD>&nbsp;</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>$720 </B><I>(+/- 5%)</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>*Based on Kinross&rsquo; 90% share of Chirano</I></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Material assumptions used to forecast 2020
production cost of sales are as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">a gold price of $1,200 per ounce, </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">a silver price of $16 per ounce, </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">an oil price of $65 per barrel, </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">foreign exchange rates of: </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">3.50 Brazilian reais is to the U.S. dollar,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">1.30 Canadian dollars to the U.S. dollar,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">60 Russian roubles to the U.S. dollar,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">650 Chilean pesos to the U.S. dollar,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">5.0 Ghanaian cedis to the U.S. dollar,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">35 Mauritanian ouguiyas to the U.S. dollar, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: justify">1.11 U.S. dollars to the Euro.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taking into account existing currency and oil hedges:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">a 10% change in foreign currency exchange
rates would be expected to result in an approximate $14 impact on production cost of sales per ounce<SUP>8</SUP>; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">specific to the Russian rouble, a 10%
change in this exchange rate would be expected to result in an approximate $15 impact on Russian production cost of sales per ounce;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">specific to the Brazilian real, a 10%
change in this exchange rate would be expected to result in an approximate $25 impact on Brazilian production cost of sales per
ounce;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">a $10 per barrel change in the price of
oil would be expected to result in an approximate $4 impact on production cost of sales per ounce;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">a $100 change in the price of gold would
be expected to result in an approximate $4 impact on production cost of sales per ounce as a result of a change in royalties.</FONT></TD></TR></TABLE>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I><SUP>7</SUP></I></B><I>The percentages are calculated
based on the mid-point of regional 2020 forecast production.</I></P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><I><SUP>8</SUP> Refers to all of the currencies in the countries
where the Company has mining operations, fluctuating simultaneously by 10% in the same direction, either appreciating or depreciating,
taking into consideration the impact of hedging and the weighting of each currency within our consolidated cost structure.</I></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="vertical-align: top"><TD STYLE="width: 86%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; border-top: rgb(197,155,95) 2pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B>p.
                                                                                                                                                                7 </B></FONT><B> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">Kinross reports
                                                                                                                                                                2019 fourth-quarter and full-year results</FONT></B></TD><TD STYLE="width: 14%; padding-top: 3pt; font-size: 10pt; text-align: right; border-top: rgb(197,155,95) 2pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total capital expenditures for 2020 are
forecast to be approximately $900 million<SUP>3</SUP> (+/- 5%) and are summarized in the table below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capital expenditures for 2021 are expected
to be lower by approximately $100 million compared with 2020 capital guidance. Capital expenditures are expected to be further
reduced in 2022 compared with 2021 levels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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 STYLE="padding: 2pt; width: 24%; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><BR STYLE="clear: both">
    <B>Region</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding: 2pt; width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: White"><B>Forecast
2020<BR>
sustaining capital<BR>
<I>(million)</I></B></FONT></P></TD>
    <TD STYLE="border-top: Black 1pt solid; padding: 2pt; width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: White"><B>Forecast
2020<BR>
non-sustaining capital<BR>
<I>(million)</I></B></FONT></P></TD>
    <TD STYLE="border-top: Black 1pt solid; padding: 2pt; width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: White"><B>Total
forecast capital<BR>
<I>(+/- 5%) (million)</I></B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Americas</B></FONT></TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$265</FONT></TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$270</FONT></TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$535</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>West Africa</B></FONT></TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$35</FONT></TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$280</FONT></TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$315</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Russia </B></FONT></TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$25</FONT></TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$20</FONT></TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$45</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Corporate</B></FONT></TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$5</FONT></TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$0</FONT></TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$5</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 2pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TOTAL </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$330 </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$570</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$900*</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>*Starting in 2020, the Company will
exclude capitalized interest from its capital expenditures guidance and intends to report interest as a separate item going forward
in order to provide greater transparency.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Sustaining capital includes the following
forecast spending estimates:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="text-align: justify">Mine development:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$110 million (Americas); $15 million (Russia); $10 million (West Africa)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="text-align: justify">Mobile equipment:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$70 million (Americas); $10 million (Russia); $5 million (West Africa)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="text-align: justify">Tailings facilities:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$50 million (Americas); $5 million (West Africa)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="text-align: justify">Mill facilities:&#9;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$20 million (Americas); $5 million (West Africa)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="text-align: justify">Leach facilities:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$15 million (Americas) </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Non-sustaining capital includes the following forecast spending
estimates:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Tasiast West Branch stripping:</FONT></TD>
                                                                                                               <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$225 million</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Round Mountain Phase W (primarily stripping):</FONT></TD>
                                                                                                               <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$125 million</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fort Knox Gilmore:</FONT></TD>
                                                                                                               <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$95 million</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Tasiast 24k project:</FONT></TD>
                                                                                                               <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$55 million</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">La Coipa Restart </FONT></TD>
                                                                                                               <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$45 million</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; width: 3.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Development projects and other:</FONT></TD>
                                                                                                               <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$25 million</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2020 forecast for exploration is approximately
$90 million, all of which is expected to be expensed. The increase compared to full-year 2019 is primarily due to the addition
of Chulbatkan to the Company&rsquo;s project pipeline.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2020 forecast for overhead (general
and administrative and business development expenses) is approximately $150 million, approximately $20 million less than 2019 results
primarily as a result of Kinross&rsquo; comprehensive cost and efficiency review across the organization. 2020 annual overhead
guidance is down $55 million compared with 2015 overhead guidance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other operating costs expected to be incurred
in 2020 are approximately $100 million, which includes approximately $50 million of care and maintenance costs in Chile and at
Kettle River-Buckhorn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><BR>
Based on assumed gold price of $1,200 and other budget assumptions, tax expense is expected to be a recovery of $25 million and
taxes paid is expected to be $110 million. Adjusting the Brazilian real to the exchange rate of 4.03 at the end of 2019, tax expense
is expected to be $30 million. Tax expense is expected to increase at 23% of any profit resulting from higher gold prices. For
every $100 increase in the realized gold price, taxes paid is expected to increase by $20 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="vertical-align: top"><TD STYLE="width: 86%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; border-top: rgb(197,155,95) 2pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B>p.
                                                                                                                                                                8 </B></FONT><B> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">Kinross reports
                                                                                                                                                                2019 fourth-quarter and full-year results</FONT></B></TD><TD STYLE="width: 14%; padding-top: 3pt; font-size: 10pt; text-align: right; border-top: rgb(197,155,95) 2pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation, depletion and amortization
is forecast to be approximately $340 (+/-5%) per Au eq. oz.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Interest paid is forecast to be approximately
$110 million, which includes $55 million of capitalized interest.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 16, 2019, Kinross signed a
$300 million project financing for Tasiast with the IFC (a member of the World Bank Group), Export Development Canada, and with
the participation of ING Bank and Soci&eacute;t&eacute; G&eacute;n&eacute;rale. The loan is non-recourse to Kinross, underscores
the attractive foreign investment climate in Mauritania, and was signed following a comprehensive due diligence process with the
lenders, including site visits, meetings with the Government of Mauritania, and significant technical and environmental reviews
and evaluations. The first funding draw from the loan is expected later in Q1 2020.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As part of its portfolio management strategy
and to further strengthen its balance sheet, on December 9, 2019 Kinross sold its remaining share position in Lundin Gold Inc.
to a syndicate of buyers for gross proceeds of approximately $113 million.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #C59B5F"><B>Sale of royalty portfolio
to Maverix Metals</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 19, 2019, Kinross completed
the sale of its royalty portfolio to Maverix for total consideration of $73.9 million, which includes $25 million in cash and approximately
11.2 million Maverix common shares, representing a 9.4% ownership interest in Maverix. The transaction enables Kinross to realize
the value of its royalty portfolio and retain upside exposure through its meaningful equity position in Maverix.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #C59B5F"><B>Environment, Social,
Governance highlights (ESG)</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kinross&rsquo; performance in its First
Priorities &ndash; safety, environment and social responsibility &ndash; remains among the best in the industry, with a 2019 safety
record on par with rates in low-risk non-industrial sectors. In 2019, we made major advancements in the implementation of critical
risk management systems that are designed to prevent serious injuries and fatalities. Kinross&rsquo; robust approach to environmental
management includes addressing climate change impacts and risks. Overall, the Company&rsquo;s energy-use and greenhouse gas emission
intensities are the lowest amongst gold industry peers. In 2019, Kinross published its best practice approach to safe and <U> responsible
tailings management</U>, which is based on an overriding commitment to safety and the <B>environment</B>. For its strong sustainability
performance, Kinross was recently ranked in the top 10 among metals and mining companies in The Sustainability Yearbook 2020, published
by S&amp;P Global in collaboration with RobecoSAM.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kinross engages directly with local communities
around its operations to understand their economic, <B>social </B>and development goals, working together to ensure that meaningful,
long-term benefits are realized through job creation, training programs, procurement, tax payments, and targeted community programs.
In 2019, Kinross interacted with more than 90,000 stakeholders and registered more than 650,000 beneficiaries from its community
projects. Employing a diverse workforce comprised of 98% of people from host countries also enabled Kinross to contribute greater
economic value in the areas where it operates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Studies measuring quality of life metrics
have found significant improvements in communities around the Company&rsquo;s mines at Paracatu and Tasiast. In Chile, 60% of local
Colla indigenous people around the La Coipa project now have access to electricity after solar panels were installed in their communities.
In Chirano, more than 90% of people in communities around the mine now have access to safer piped water, compared to less than
40% in 2000, as a result of significant improvements in essential infrastructure over the past 15 years.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kinross&rsquo; robust corporate <B>governance
</B>standards for its Board of Directors continue to be driven by a focus on delivering value through a mix of skills and experience,
diversity, director independence and succession planning. In 2019, Kinross appointed a new Chair of the Board and welcomed two
new Board members. Kinross maintained its top tier governance performance by, among other things, achieving its 33% Board gender
diversity target and reducing average Board tenure. Kinross was the top ranked gold mining company in <I>The Globe and Mail&rsquo;s
</I>2019 <U>annual corporate governance</U> survey for the second consecutive year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="vertical-align: top"><TD STYLE="width: 86%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; border-top: rgb(197,155,95) 2pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B>p.
                                                                                                                                                                9 </B></FONT><B> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">Kinross reports
                                                                                                                                                                2019 fourth-quarter and full-year results</FONT></B></TD><TD STYLE="width: 14%; padding-top: 3pt; font-size: 10pt; text-align: right; border-top: rgb(197,155,95) 2pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In September 2019, the World Gold Council
(WGC) launched its Responsible Gold Mining Principles (RGMPs), which are an overarching framework that defines responsible gold
mining. Kinross was a participant in the WGC committee that developed the RGMPs, which are largely consistent with the Company&rsquo;s
current approach. Kinross is well-positioned to be in substantial conformance, including obtaining external assurance within the
next three years.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the release, Kinross
will hold a conference call and audio webcast on Thursday, February 13, 2020 at 8 a.m. ET to discuss the results, followed by a
question-and-answer session. To access the call, please dial:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Canada &amp; US toll-free</B>&nbsp;&ndash; (877) 201-0168;
Conference ID: 1756358<BR>
<B>Outside of Canada &amp; US</B>&nbsp;&ndash; +1 (647) 788-4901; Conference ID: 1756358</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Replay (available up to 14 days after the call):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Canada &amp; US toll-free</B>&nbsp;&ndash; (800) 585-8367;
Conference ID: 1756358<BR>
<B>Outside of Canada &amp; US</B>&nbsp;&ndash; +1 (416) 621-4642; Conference ID: 1756358</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">You may also access the conference call on a listen-only basis
via webcast at our website <FONT>www.kinross.com</FONT>. The</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">audio webcast will be archived on our website at <FONT>www.kinross.com</FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This release should be read in conjunction
with Kinross&rsquo; 2019 year-end Financial Statements and Management&rsquo;s Discussion and Analysis report at <U>www.kinross.com</U>.
Kinross&rsquo; 2019 year-end Financial Statements and Management&rsquo;s Discussion and Analysis have been filed with Canadian
securities regulators (available at <U>www.sedar.com</U>) and furnished with the U.S. Securities and Exchange Commission (available
at <U>www.sec.gov</U>). Kinross shareholders may obtain a copy of the financial statements free of charge upon request to the
Company.</P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 86%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; border-top: rgb(197,155,95) 2pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B>p. </B>10</FONT><B> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F">Kinross
                                                                                                                                                                reports 2019 fourth-quarter and full-year results</FONT></B></TD><TD STYLE="width: 14%; padding-top: 3pt; font-size: 10pt; text-align: right; border-top: rgb(197,155,95) 2pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; border-top: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; border-top: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Three months ended December 31,</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; text-align: center; font-size: 10pt"><B>Gold equivalent ounces</B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Produced</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Sold</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Production cost of <BR>
sales</B> <I>($millions)</I></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Production cost of<BR>
 sales/equivalent ounce sold</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 28%">Fort Knox</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">53,183</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right">52,194</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">55,040</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right">51,889</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 6%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">65.9</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right">49.1</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 6%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,197</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right">946</TD><TD STYLE="border-right: Black 1.5pt solid; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Round Mountain</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">103,501</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">96,715</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">108,402</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">91,769</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">79.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">70.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">732</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">763</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Bald Mountain</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">66,147</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">47,211</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">65,381</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">68,288</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">49.8</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">46.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">762</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">687</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Kettle River - Buckhorn</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">Paracatu</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">140,224</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">145,634</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">140,430</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">152,395</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">111.1</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">116.6</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">791</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">765</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Maricunga</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,221</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">7,226</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">17,455</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">19,399</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">11.7</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">16.1</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">670</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">830</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Americas Total</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">366,276</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">348,980</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">386,708</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">383,740</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">317.8</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">298.7</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">822</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">778</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Kupol</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">132,009</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">123,478</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">135,083</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">124,408</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">83.3</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">68.7</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">617</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">552</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Russia Total</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">132,009</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">123,478</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">135,083</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">124,408</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">83.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">68.7</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">617</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">552</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">Tasiast</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">102,973</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">91,548</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">101,940</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">83,780</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">50.4</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">69.5</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">494</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">830</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Chirano (100%)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">48,984</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">51,273</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">47,186</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">49,173</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">49.0</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">39.5</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,038</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">803</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">West Africa Total</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">151,957</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">142,821</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">149,126</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">132,953</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">99.4</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">109.0</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">667</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">820</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Operations Total</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">650,242</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">615,279</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">670,917</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">641,101</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">500.5</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">476.4</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">746</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">743</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less Chirano non-controlling <BR> interest (10%)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">(4,898</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: right">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">(5,127</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: right">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">(4,718</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: right">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">(4,918</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: right">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">(4.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: right">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">(4.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-bottom: 1pt; text-align: right">)</TD><TD STYLE="text-align: right; font-size: 10pt; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Attributable Total</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">645,344</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">610,152</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">666,199</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">636,183</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">495.6</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">472.4</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">744</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">743</TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Years ended December 31,</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Gold equivalent ounces</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Produced</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Sold</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Production cost of<BR>
 sales</B> <I>($millions)</I></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Production cost of<BR>
 sales/equivalent ounce sold</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt; width: 28%">Fort Knox</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">200,263</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right">255,569</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">200,323</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right">256,037</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 6%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">213.7</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right">214.4</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 6%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,067</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; text-align: right">837</TD><TD STYLE="border-right: Black 1.5pt solid; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt">Round Mountain</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">361,664</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">385,601</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">360,739</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">381,478</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">250.6</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">277.6</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">695</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">728</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt">Bald Mountain</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">187,961</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">284,646</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">177,802</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">318,091</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">136.6</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">174.1</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">768</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">547</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt">Kettle River - Buckhorn</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">927</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0.75pt">Paracatu</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">619,563</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">521,575</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">619,009</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">523,417</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">412.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">430.5</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">666</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">822</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 0.75pt">Maricunga</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">38,601</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">60,066</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">43,756</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">89,959</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">31.5</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">65.7</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">720</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">730</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt">Americas Total</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,408,052</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,507,457</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,401,629</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,569,909</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,044.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,162.3</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">745</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">740</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt; padding-left: 0.75pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 0.75pt">Kupol</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">527,343</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">489,947</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">526,458</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">494,835</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">314.1</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">288.2</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">597</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">582</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt">Russia Total</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">527,343</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">489,947</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">526,458</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">494,835</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">314.1</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">288.2</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">597</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">582</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt; padding-left: 0.75pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0.75pt">Tasiast</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">391,097</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">250,965</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">382,803</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">243,241</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">230.4</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">237.3</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">602</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">976</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 0.75pt">Chirano (100%)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">201,296</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">226,699</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">201,868</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">224,927</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">189.7</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">172.7</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">940</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">768</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.75pt">West Africa Total</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">592,393</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">477,664</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">584,671</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">468,168</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">420.1</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">410.0</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">719</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">876</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt; padding-left: 0.75pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt">Operations Total</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,527,788</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,475,068</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,512,758</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,532,912</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,778.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,860.5</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">708</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">735</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.75pt">Less Chirano non-controlling <BR> interest (10%)</TD><TD STYLE="text-align: right; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(20,129</TD><TD STYLE="vertical-align: bottom; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(22,670</TD><TD STYLE="vertical-align: bottom; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: right">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(20,186</TD><TD STYLE="vertical-align: bottom; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(22,493</TD><TD STYLE="vertical-align: bottom; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: right">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(19.0</TD><TD STYLE="vertical-align: bottom; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(17.3</TD><TD STYLE="vertical-align: bottom; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: right">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.75pt">Attributable Total</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,507,659</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,452,398</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,492,572</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,510,419</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,759.9</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,843.2</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">706</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">734</TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="border-top: rgb(197,155,95) 2pt solid; width: 86%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B>p.
                                                                                                                                                                11 </B></FONT><B> <FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F">Kinross reports
                                                                                                                                                                2019 fourth-quarter and full-year results</FONT></B></TD><TD STYLE="border-top: rgb(197,155,95) 2pt solid; width: 14%; padding-top: 3pt; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>&nbsp;</B></P>

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

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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>(expressed in millions of United States dollars, except
share amounts)</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">As at</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Current assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; width: 66%; text-align: left">Cash and cash equivalents</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); width: 14%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">575.1</TD><TD STYLE="background-color: rgb(191,191,191); width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right">349.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Restricted cash</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">15.2</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12.7</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Accounts receivable and other assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">130.2</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">101.4</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Current income tax recoverable</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">43.2</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">79.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in">Inventories</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,053.8</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,052.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Unrealized fair value of derivative assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">7.2</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">3.8</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,824.7</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,597.9</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Non-current assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Property, plant and equipment</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">6,340.0</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5,519.1</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in">Goodwill</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">158.8</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">162.7</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Long-term investments</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">126.2</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">155.9</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Investment in joint venture</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">18.4</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">18.3</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Unrealized fair value of derivative assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">4.5</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.8</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Other long-term assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">568.2</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">564.1</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Deferred tax assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">35.2</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">45.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">9,076.0</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">8,063.8</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Current liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Accounts payable and accrued liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">469.3</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">465.9</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Current income tax payable</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">68.0</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">21.7</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Current portion of provisions</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">57.9</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">72.6</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Other current liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">20.3</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">52.2</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">615.5</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">612.4</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Non-current liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Long-term debt and credit facilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,837.4</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,735.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in">Provisions</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">838.6</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">816.4</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Long-term lease liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">38.9</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Unrealized fair value of derivative liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">0.8</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9.6</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Other long-term liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">107.7</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">97.9</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Deferred tax liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">304.5</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">265.2</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,743.4</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">3,536.5</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Equity</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Common shareholders' equity</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in">Common share capital</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">14,926.2</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">14,913.4</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Contributed surplus</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">242.1</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">239.8</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Accumulated deficit</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(9,829.4</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(10,548.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; text-align: left">Accumulated other comprehensive income (loss)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(20.4</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(98.5</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total common shareholders' equity</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">5,318.5</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,506.7</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Non-controlling interest</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">14.1</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">20.6</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total equity</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">5,332.6</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,527.3</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total liabilities and equity</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">9,076.0</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">8,063.8</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Common shares</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Authorized</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;Unlimited </B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unlimited </FONT></TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left">Issued and outstanding</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,253,765,724</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,250,228,821</TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

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                                                                                                                                                                12 </B></FONT><B> <FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F">Kinross reports
                                                                                                                                                                2019 fourth-quarter and full-year results</FONT></B></TD><TD STYLE="border-top: rgb(197,155,95) 2pt solid; width: 14%; padding-top: 3pt; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR></TABLE>
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    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Consolidated statements of operations</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; ">(expressed in millions of United States dollars, except share and per share amounts)</P>

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<TR>
    <TD STYLE="border-top: Black 1.5pt solid; border-left: Black 1.5pt solid; font: italic 10pt Times New Roman, Times, Serif"></TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; border-top: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Years ended</TD><TD STYLE="border-right: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Revenue</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 66%; text-align: left">Metal sales</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); width: 14%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,497.3</TD><TD STYLE="background-color: rgb(191,191,191); width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right">3,212.6</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Cost of sales</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Production cost of sales</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; background-color: rgb(191,191,191); text-align: right">1,778.9</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,860.5</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Depreciation, depletion and amortization</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">731.3</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">772.4</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Reversals of impairment charges</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(361.8</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Total cost of sales</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,148.4</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,632.9</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Gross profit</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,348.9</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">579.7</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Other operating expense</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">108.5</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">137.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Exploration and business development</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">113.5</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">109.2</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">General and administrative</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">135.8</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">133.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Operating earnings</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">991.1</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">200.5</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Other income - net</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">72.6</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3.2</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Equity in earnings (losses) of joint ventures - net</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">0.1</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(0.3</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Finance income</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">7.9</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Finance expense</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(107.9</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(101.2</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Earnings before tax</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">963.8</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">113.2</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Income tax expense - net</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(246.7</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(138.8</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Net earnings (loss)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">717.1</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(25.6</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Net earnings (loss) attributable to:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Non-controlling interest</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(1.5</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Common shareholders</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">718.6</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(23.6</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Earnings (loss) per share attributable to common shareholders</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">Basic</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">0.57</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(0.02</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">Diluted</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">0.57</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(0.02</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Weighted average number of common shares outstanding<BR> (millions)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">Basic</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,252.3</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,249.5</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">Diluted</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,262.3</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,249.5</TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
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                                                                                                                                                                13 </B></FONT><B> <FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F">Kinross reports
                                                                                                                                                                2019 fourth-quarter and full-year results</FONT></B></TD><TD STYLE="border-top: rgb(197,155,95) 2pt solid; width: 14%; padding-top: 3pt; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR></TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

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

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

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    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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<TR>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; color: black">(expressed in millions of United States dollars)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-top: Black 1.5pt solid; border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Years ended</TD><TD STYLE="border-right: Black 1.5pt solid; border-top: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Net inflow (outflow) of cash related to the following activities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Operating:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 66%; text-align: left">Net earnings (loss)</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); width: 14%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">717.1</TD><TD STYLE="background-color: rgb(191,191,191); width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: right">(25.6</TD><TD STYLE="border-right: Black 1.5pt solid; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Adjustments to reconcile net earnings (loss) to net cash provided from <BR> operating activities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Depreciation, depletion and amortization</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">731.3</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">772.4</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Gain on disposition of associate and other interests - net</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(2.1</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Reversals of impairment charges</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(361.8</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Equity in (earnings) losses of joint ventures - net</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(0.1</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.3</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Share-based compensation expense</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">14.3</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">14.6</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Finance expense</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">107.9</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">101.2</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax expense</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">41.1</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8.9</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Foreign exchange (gains) losses and other</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(53.1</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12.5</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Reclamation recovery</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(11.9</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(8.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Changes in operating assets and liabilities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts receivable and other assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(64.5</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(22.7</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif">Inventories</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">53.8</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(5.7</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts payable and accrued liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">165.9</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">69.8</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Cash flow provided from operating activities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,340.0</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">915.6</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Income taxes paid</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(115.1</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(126.9</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Net cash flow provided from operating activities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,224.9</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">788.7</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Investing:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Additions to property, plant and equipment</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(1,105.2</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(1,043.4</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="text-indent: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">Acquisitions</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(30.0</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(304.2</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left">Net proceeds from the sale of (additions to) long-term investments <BR> and other assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">71.6</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(52.9</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Net proceeds from the sale of property, plant and equipment</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">31.9</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6.4</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Increase in restricted cash</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(2.5</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(0.6</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Interest received and other - net</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">7.6</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">7.7</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Net cash flow used in investing activities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(1,026.6</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(1,387.0</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Financing:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Proceeds from drawdown of debt</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">300.0</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">80.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif">Repayment of debt</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(200.0</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(80.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Payment of lease liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(14.3</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Interest paid</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(55.6</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(57.9</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Dividends paid to non-controlling interest</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">(5.0</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(13.0</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="padding-left: 0.125in; border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Other - net</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(1.7</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Net cash flow provided from (used in) financing activities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">25.1</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(72.6</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Effect of exchange rate changes on cash and cash equivalents</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">2.7</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(5.9</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Increase (decrease) in cash and cash equivalents</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; background-color: rgb(191,191,191); text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: right">226.1</TD><TD STYLE="background-color: rgb(191,191,191); font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(676.8</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Cash and cash equivalents, beginning of period</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">349.0</TD><TD STYLE="background-color: rgb(191,191,191); padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,025.8</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Cash and cash equivalents, end of period</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">575.1</TD><TD STYLE="background-color: rgb(191,191,191); border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">349.0</TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
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                                                                                                                                                                14 </B></FONT><B> <FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F">Kinross reports
                                                                                                                                                                2019 fourth-quarter and full-year results</FONT></B></TD><TD STYLE="border-top: rgb(197,155,95) 2pt solid; width: 14%; padding-top: 3pt; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR></TABLE>
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    <td style="width: 50%">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><b>Kinross Gold Corporation</b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</p></td></tr>
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    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; white-space: nowrap; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; color: white"><B>&nbsp;Operating
    Summary</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="white-space: nowrap; width: 5%; border: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Mine</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 5%; border: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Period</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Ownership</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Tonnes<BR>

    Ore<BR>
 Mined <SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Ore
    <BR>
    Processed<BR>
 (Milled) <SUP>(1) </SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Ore
    <BR>
    Processed<BR>
 (Heap<BR>
 Leach) <SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Grade<BR>

    (Mill)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Grade<BR>

    (Heap<BR>
 Leach)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Recovery
<BR>
    <SUP>(2)</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Gold
    <BR>
Eq<BR>
 Production <SUP>(5)</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Gold
    <BR>
Eq<BR>
 Sales <SUP>(5)</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 7%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Production<BR>

    cost of<BR>
 sales</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 5%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Production<BR>

    cost of sales/oz</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Cap
<BR>
Ex <SUP>(7)</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>DD&amp;A</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(%)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">('000
    tonnes)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">('000
    tonnes)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">('000
    tonnes)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(%)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(ounces)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(ounces)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">($
    millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">($/ounce)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">($
    millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">($
    millions)</FONT></TD></TR>
<TR>
    <TD ROWSPAN="25" STYLE="white-space: nowrap; border-left: Black 1pt solid; border-bottom: black 1pt solid; border-right: Black 1pt solid; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Americas</B></FONT></TD>
    <TD ROWSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Fort
    Knox</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Q4
    2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7,648</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,615</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5,498</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.43</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.20</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>81%</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>53,183</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>55,040</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65.9</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,197</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;37.1</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; background-color: white; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;25.0</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q3
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7,094</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,097</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">5,250</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.52</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.21</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">83%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">54,027</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">51,606</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">58.3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,130</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">40.9</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">24.7</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q2
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4,829</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,811</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">3,440</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.59</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.20</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">81%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">55,440</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">55,740</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">50.7</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">35.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">22.6</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q1
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">5,796</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,556</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4,295</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.72</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.22</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">84%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">37,613</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">37,937</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">38.8</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,023</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">28.9</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">18.0</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q4
    2018</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">5,645</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,856</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,927</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.44</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.19</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">83%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">52,194</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">51,889</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">49.1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">30.5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">21.9</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD ROWSPAN="5" STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Round
    Mountain</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Q4
    2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7,408</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>882</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7,140</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.00</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.36</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>82%</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>103,501</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>108,402</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79.3</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;62.7</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;12.6</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q3
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7,128</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,004</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7,557</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1.05</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.32</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">85%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">82,195</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">81,617</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">57.5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">48.3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">9.1</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q2
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4,074</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">909</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">3,910</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1.17</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.33</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">86%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">90,833</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">87,106</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">57.8</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">58.9</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">10.2</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q1
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">3,904</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">845</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">3,557</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1.31</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.38</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">86%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">85,135</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">83,614</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">56.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">64.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7.9</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q4
    2018</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4,386</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">987</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4,172</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1.38</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.43</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">83%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">96,715</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">91,769</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">70.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">68.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">9.6</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD ROWSPAN="5" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Bald
    Mountain <SUP>(8)</SUP></B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Q4
    2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,928</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,007</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.48</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>nm</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>66,147</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>65,381</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49.8</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;54.6</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;36.3</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q3
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">6,494</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">6,494</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.41</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">nm</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">33,995</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">37,644</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">30.6</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">44.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14.8</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q2
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">3,725</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4,138</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.36</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">nm</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">40,564</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">31,547</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">27.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">57.5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">12.2</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q1
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,659</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,836</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.48</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">nm</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">47,255</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">43,230</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">29.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">64.6</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">16.2</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q4
    2018</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4,929</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">5,406</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.47</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">nm</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">47,211</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">68,288</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">46.9</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">40.4</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">22.4</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD ROWSPAN="5" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Paracatu</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Q4
    2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>12,393</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>14,168</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.38</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>76%</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>140,224</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>140,430</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111.1</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;21.4</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;42.8</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q3
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">12,442</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14,731</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.38</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">78%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">146,396</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">145,662</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">99.5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">39.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">39.5</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q2
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">12,307</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14,439</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.48</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">80%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">186,167</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">186,520</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">106.8</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">34.6</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">45.2</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q1
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">12,393</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14,283</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.38</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">80%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">146,776</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">146,397</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">94.9</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">16.5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">35.9</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q4
    2018</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">11,680</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">13,479</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.44</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">81%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">145,634</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">152,395</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">116.6</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">33.3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">41.7</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD ROWSPAN="5" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Maricunga
    <SUP>(8)</SUP></B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Q4
    2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>nm</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,221</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>17,455</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;0.4</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q3
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">nm</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">18,016</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">9,203</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.4</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q2
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">nm</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">6,648</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">9,474</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">8.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.5</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q1
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">nm</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">10,716</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7,624</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4.8</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.4</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q4
    2018</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">nm</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7,226</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">19,399</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">16.1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">0.6</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD ROWSPAN="5" STYLE="white-space: nowrap; border-left: Black 1pt solid; border-bottom: black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD ROWSPAN="5" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Kupol
    <SUP>(3)(4)(6)</SUP></B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Q4
    2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>468</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>435</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>9.14</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>95%</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>132,009</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>135,083</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83.3</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;15.8</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;34.8</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q3
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">338</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">431</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">9.65</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">95%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">137,562</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">136,088</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">82.6</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7.8</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">32.2</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q2
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">431</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">432</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">9.23</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">94%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">127,684</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">124,873</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">70.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">8.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">30.7</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q1
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">362</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">425</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">9.62</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">93%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">130,088</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">130,414</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">78.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">8.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">27.4</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q4
    2018</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">400</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">425</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">8.77</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">95%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">123,478</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">124,408</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">68.7</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">19.4</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">30.1</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD ROWSPAN="15" STYLE="white-space: nowrap; border-left: Black 1pt solid; border-bottom: black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>West
    Africa</B></FONT></TD>
    <TD ROWSPAN="5" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Tasiast</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Q4
    2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,129</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,379</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.39</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>96%</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>102,973</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>101,940</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50.4</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;86.3</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;35.0</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q3
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,010</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,297</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2.37</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">97%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">93,865</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">86,357</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">55.1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">74.3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">32.0</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q2
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">819</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,281</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2.19</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">97%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">92,901</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">94,748</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">58.9</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">75.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">32.2</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q1
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,962</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,269</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2.37</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">97%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">101,358</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">99,758</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">66.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">75.7</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">31.0</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q4
    2018</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">3,267</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,301</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2.19</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">94%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">91,548</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">83,780</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">69.5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">71.1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">28.5</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD ROWSPAN="5" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chirano
    - 100%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Q4
    2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>90</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>737</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>844</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.00</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>91%</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>48,984</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>47,186</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49.0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,038</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.0</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;21.4</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q3
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">90</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">714</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">801</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2.02</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">92%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">46,641</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">49,458</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">50.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,011</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4.8</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">22.0</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q2
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">90</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">619</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">904</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1.95</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">92%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">53,349</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">51,141</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">46.7</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2.7</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">23.8</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q1
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">90</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">499</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">908</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1.97</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">92%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">52,322</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">54,083</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">44.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">3.3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">25.4</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q4
    2018</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">90</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">527</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">840</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2.08</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">92%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">51,273</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">49,173</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">39.5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">5.7</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">28.3</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD ROWSPAN="5" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chirano
    - 90%</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Q4
    2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>90</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>737</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>844</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.00</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>91%</B></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>44,086</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>42,468</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44.1</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,038</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>$&nbsp;&nbsp;&nbsp;19.3</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q3
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">90</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">714</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">801</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2.02</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">92%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">41,977</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">44,512</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">45.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,011</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4.3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">19.8</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q2
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">90</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">619</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">904</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1.95</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">92%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">48,014</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">46,027</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">42.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2.4</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">21.4</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q1
    2019</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">90</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">499</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">908</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1.97</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">92%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">47,090</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">48,675</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">39.6</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">3.0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">22.9</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Q4
    2018</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">90</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">527</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">840</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2.08</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">92%</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">46,146</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">44,255</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">35.5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">5.1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">25.5</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1.5in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><I>(1)</I></TD><TD><I>Tonnes of ore mined and processed represent 100% Kinross for all periods presented.</I></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><I>(2)</I></TD><TD><I>Due to the nature of heap leach operations, recovery rates at Maricunga and Bald Mountain cannot be accurately measured
on a quarterly basis. Recovery rates at Fort Knox, Round Mountain and Tasiast represent mill recovery only.</I></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><I>(3)</I></TD><TD><P><I>The Kupol segment includes the Kupol and Dvoinoye
                                         mines.</I></P>


</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><I>(4)</I></TD><TD><I>Kupol silver grade and recovery were as follows: Q4 2019: 65.63 g/t, 84.8%; Q3 2019: 67.44 g/t, 87.8%; Q2 2019: 75.29 g/t,
84.9%; Q1 2019: 69.61 g/t, 82.1%; Q4 2018: 73.35 g/t, 83.5%.</I></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><I>(5)</I></TD><TD><I>Gold equivalent ounces include silver ounces produced and sold converted to a gold equivalent based on the ratio of the
average spot market prices for the commodities for each period. The ratios for the quarters presented are as follows: Q4 2019:
85.59:1; Q3 2019: 86.73:1; Q2 2019: 87.98:1; Q1 2019: 83.74:1; Q4 2018: 84.42:1.</I></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><I>(6)</I></TD><TD><I>Dvoinoye ore processed and grade were as follows: Q4 2019: 100,685, 9.89 g/t; Q3 2019: 113,497, 9.82 g/t; Q2 2019: 113,872,
9.24 g/t; Q1 2019: 135,529, 7.46 g/t; Q4 2018: 104,495, 9.82 g/t.</I></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><I>(7)</I></TD><TD><I>Capital expenditures are presented on a cash basis, consistent with the statement of cash flows.</I></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><I>(8)</I></TD><TD><I>&quot;nm&quot; means not meaningful. </I></TD></TR></TABLE>

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

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

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<TR STYLE="vertical-align: top"><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; width: 86%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B>p.
                                         15 </B></FONT><B> <FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F">Kinross reports 2019 fourth-quarter and full-year
results</FONT></B></TD><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; font-size: 10pt; text-align: right; width: 14%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR>
</TABLE>

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

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

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

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    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Reconciliation of non-GAAP financial measures</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has included certain non-GAAP
financial measures in this document. These measures are not defined under IFRS and should not be considered in isolation. The Company
believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability
to evaluate the underlying performance of the Company. The inclusion of these measures is meant to provide additional information
and should not be used as a substitute for performance measures prepared in accordance with IFRS. These measures are not necessarily
standard and therefore may not be comparable to other issuers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Adjusted net earnings attributable to common
shareholders and adjusted net earnings per share are non-GAAP measures which determine the performance of the Company, excluding
certain impacts which the Company believes are not reflective of the Company&rsquo;s underlying performance for the reporting period,
such as the impact of foreign exchange gains and losses, reassessment of prior year taxes and/or taxes otherwise not related to
the current period, impairment charges (reversals), gains and losses and other one-time costs related to acquisitions, dispositions
and other transactions, and non-hedge derivative gains and losses. Although some of the items are recurring, the Company believes
that they are not reflective of the underlying operating performance of its current business and are not necessarily indicative
of future operating results. Management believes that these measures, which are used internally to assess performance and in planning
and forecasting future operating results, provide investors with the ability to better evaluate underlying performance, particularly
since the excluded items are typically not included in public guidance. However, adjusted net earnings and adjusted net earnings
per share measures are not necessarily indicative of net earnings and earnings per share measures as determined under IFRS.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table provides a reconciliation
of net earnings (loss) to adjusted net earnings for the periods presented:&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border: Black 2pt solid; border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Adjusted Net Earnings (Loss)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif">(in millions, except per share amounts)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three months ended</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Years ended</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">December 31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 52%; text-align: left">Net earnings (loss) attributable to common shareholders - as reported</TD><TD STYLE="width: 2%; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 8%; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">521.5</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 8%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(27.7</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="width: 2%; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 8%; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">718.6</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 8%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(23.6</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Adjusting items:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Foreign exchange (gains) losses</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">6.0</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5.5</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(0.6</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4.3</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left">Foreign exchange (gains) losses on translation of tax basis and foreign exchange on deferred income taxes within income tax expense</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(12.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8.3</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1.6</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">62.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Gain on disposition of royalty portfolio</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(72.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(72.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reversals of impairment charges<SUP>(a)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(361.8</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(361.8</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Taxes in respect of prior periods</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(0.1</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">36.3</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">33.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">59.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Reclamation and remediation recoveries</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(11.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(8.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(11.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(3.5</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Tasiast Phase One commissioning costs</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6.4</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Fort Knox pit wall slide related costs</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">8.0</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">16.5</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">25.1</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">37.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Restructuring costs</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">12.2</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">U.S. Tax Reform impact</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(8.7</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(8.7</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif">Other</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">2.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(0.1</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">7.6</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5.1</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax effect of the above adjustments<SUP>(a)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">76.6</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(8.6</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">71.5</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(11.7</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(365.5</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">41.2</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(295.7</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">151.7</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Adjusted net earnings attributable to common shareholders</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">156.0</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right">13.5</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">422.9</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right">128.1</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Weighted average number of common shares outstanding - Basic</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,253.5</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,250.2</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,252.3</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,249.5</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Adjusted net earnings per share</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">0.13</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right">0.01</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">0.34</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right">0.10</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>a)</I></TD><TD STYLE="text-align: justify"><I>During the year ended December 31, 2019, the Company recognized non-cash reversals of impairment
charges of $361.8 million related to property, plant and equipment at Paracatu and Tasiast. The tax impact on the impairment reversal
at Paracatu was an expense of $68.2 million. There was no tax impact on the impairment reversal at Tasiast.</I></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company makes reference to a non-GAAP
measure for adjusted operating cash flow. Adjusted operating cash flow is defined as cash flow from operations excluding certain
impacts which the Company believes are not reflective of the Company&rsquo;s regular operating cash flow, and excluding changes
in working capital. Working capital can be volatile due to numerous factors, including the timing of tax payments, and in the case
of Kupol, a build-up of inventory due to transportation logistics. The Company uses adjusted operating cash flow internally as
a measure of the underlying operating cash flow performance and future operating cash flow-generating capability of the Company.
However, the adjusted operating cash flow measure is not necessarily indicative of net cash flow from operations as determined
under IFRS.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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="border-top: rgb(197,155,95) 2pt solid; width: 86%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B>p.
                                                                                                                                                                16 </B></FONT><B> <FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F">Kinross reports
                                                                                                                                                                2019 fourth-quarter and full-year results</FONT></B></TD><TD STYLE="border-top: rgb(197,155,95) 2pt solid; width: 14%; padding-top: 3pt; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR></TABLE>
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    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table provides a reconciliation
of adjusted operating cash flow for the periods presented:</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 2pt; border-left: Black 2pt solid; border-top: Black 2pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; border-top: Black 2pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; border-top: Black 2pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; border-top: Black 2pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; border-top: Black 2pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; border-top: Black 2pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; border-top: Black 2pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; border-top: Black 2pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; border-top: Black 2pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; border-top: Black 2pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; border-top: Black 2pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; border-top: Black 2pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt; border-top: Black 2pt solid; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 2pt; border-left: Black 2pt solid">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Adjusted Operating Cash Flow</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; padding-left: 2pt; border-left: Black 2pt solid">(in millions)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three months ended</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Years ended</B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 2pt; border-left: Black 2pt solid">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>December 31,</B></font></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>December 31,</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 2pt; border-left: Black 2pt solid">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 2pt; border-left: Black 2pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 48%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 2pt; border-left: Black 2pt solid">Net cash flow provided from operating activities - as reported</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">408.6 </TD><TD STYLE="padding-bottom: 1pt; width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">183.5 </TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,224.9</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">788.7 </TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 2pt; border-left: Black 2pt solid">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 2pt; border-left: Black 2pt solid">Adjusting items:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.25in; border-left: Black 2pt solid">Tax payments in respect of prior years</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">16.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.25in; border-left: Black 2pt solid">Working capital changes:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.375in; border-left: Black 2pt solid">Accounts receivable and other assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(37.4</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(95.4</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">64.5</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">22.7</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; border-left: Black 2pt solid">Inventories</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(44.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">19.8</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(53.8</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5.7</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-right: Black 2pt solid"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.5in; text-indent: -0.125in; border-left: Black 2pt solid">Accounts payable and other liabilities, including income taxes paid</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">60.7</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">27.9</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(50.8</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">57.1</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; padding-left: 2pt; border-left: Black 2pt solid">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(21.0</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(47.7</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(23.4</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">85.5</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 2pt; border-left: Black 2pt solid">Adjusted operating cash flow</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">387.6</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">135.8 </TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,201.5 </TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">874.2</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; padding-left: 2pt; border-left: Black 2pt solid"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: right"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: right"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: right"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt"><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: right"><B>&nbsp;</B></TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left; border-right: Black 2pt solid"><B>&nbsp;</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Consolidated production cost of sales per
gold equivalent ounce sold is a non-GAAP measure and is defined as production cost of sales as per the consolidated financial statements
divided by the total number of gold equivalent ounces sold. This measure converts the Company&rsquo;s non-gold production into
gold equivalent ounces and credits it to total production.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attributable production cost of sales per
gold equivalent ounce sold is a non-GAAP measure and is defined as attributable production cost of sales divided by the attributable
number of gold equivalent ounces sold. This measure converts the Company&rsquo;s non-gold production into gold equivalent ounces
and credits it to total production.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management uses these measures to monitor
and evaluate the performance of its operating properties. The following table presents a reconciliation of consolidated and attributable
production cost of sales per equivalent ounce sold for the periods presented:</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 2pt solid; font-size: 10pt; padding-left: 2pt; border-left: Black 2pt solid">&nbsp;</TD><TD STYLE="border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; border-right: Black 2pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt; padding-left: 2pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Consolidated and Attributable Production Cost of Sales<BR> Per Equivalent Ounce Sold</TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: italic 10pt Times New Roman, Times, Serif; padding-left: 2pt">(in millions, except ounces and production cost of sales per equivalent </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three months ended</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Years ended</B></FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: italic 10pt Times New Roman, Times, Serif; padding-left: 2pt">ounce)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>December 31,</B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>December 31,</B></FONT></TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt; padding-left: 2pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2018</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2018</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt; padding-left: 2pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="border-right: Black 2pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; width: 48%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 2pt">Production cost of sales - as reported</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">500.5 </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">476.4 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">1,778.9 </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">1,860.5</TD><TD STYLE="border-right: Black 2pt solid; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 2pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Less: portion attributable to Chirano non-controlling interest<SUP>(1)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(4.9</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(4.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(19.0</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(17.3</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 2pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Attributable<SUP>(2)</SUP> production cost of sales</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">495.6 </TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">472.4 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,759.9 </TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,843.2 </TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt; padding-left: 2pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 2pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 2pt">Gold equivalent ounces sold</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">670,917 </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">641,101 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,512,758 </TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,532,912 </TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 2pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Less: portion attributable to Chirano non-controlling interest<SUP>(10)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(4,718</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(4,918</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(20,186</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(22,493</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 2pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Attributable<SUP>(2)</SUP> gold equivalent ounces sold </FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">666,199</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">636,183 </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,492,572 </TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,510,419 </TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 2pt">Consolidated production cost of sales per equivalent ounce sold</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">746</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">743</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">708</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">735</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 2pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Attributable<SUP>(2)</SUP> production cost of sales per equivalent ounce sold</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">744</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">743</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">706</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">734</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; border-left: Black 2pt solid; font-size: 10pt; padding-left: 2pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 2pt; border-right: Black 2pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


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<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="border-top: rgb(197,155,95) 2pt solid; width: 86%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B>p.
                                                                                                                                                                17 </B></FONT><B> <FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F">Kinross reports
                                                                                                                                                                2019 fourth-quarter and full-year results</FONT></B></TD><TD STYLE="border-top: rgb(197,155,95) 2pt solid; width: 14%; padding-top: 3pt; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR></TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attributable production cost of sales per
ounce sold on a by-product basis is a non-GAAP measure which calculates the Company&rsquo;s non-gold production as a credit against
its per ounce production costs, rather than converting its non-gold production into gold equivalent ounces and crediting it to
total production, as is the case in co-product accounting. Management believes that this measure provides investors with the ability
to better evaluate Kinross&rsquo; production cost of sales per ounce on a comparable basis with other major gold producers who
routinely calculate their cost of sales per ounce using by-product accounting rather than co-product accounting.</P>

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


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table provides a reconciliation
of attributable production cost of sales per ounce sold on a by-product basis for the periods presented:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; border-top: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Attributable Production Cost of Sales Per Ounce Sold<BR> on a By-Product Basis</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font: italic 10pt Times New Roman, Times, Serif">(in millions, except ounces and production cost of sales per ounce)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three months ended</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Years ended</TD><TD STYLE="border-right: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">December 31,</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">December 31,</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; width: 52%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt">Production cost of sales - as reported</TD><TD STYLE="width: 2%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 8%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">500.5</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">476.4</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 8%; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,778.9</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">1,860.5</TD><TD STYLE="border-right: Black 1.5pt solid; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: portion attributable to Chirano non-controlling interest<SUP>(1)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(4.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(4.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(19.0</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(17.3</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: attributable<SUP>(2)</SUP> silver revenue<SUP>(3)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(20.4</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(15.2</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(75.1</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(66.4</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attributable<SUP>(2)</SUP> production cost of sales net of silver by-product revenue</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">475.2</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">457.2</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,684.8</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,776.8</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font-size: 10pt; padding-left: 0.75pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.75pt">Gold ounces sold</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">657,179</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">628,842</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,458,839</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,480,529</TD><TD STYLE="border-right: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: portion attributable to Chirano non-controlling interest<SUP>(10)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(4,717</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(4,912</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(20,161</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: right">(22,460</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attributable<SUP>(2)</SUP> gold ounces sold </FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">652,462</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">623,930</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,438,678</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,458,069</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attributable<SUP>(2)</SUP> production cost of sales per ounce sold on a by-product basis</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">728</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">733</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">691</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: right">723</TD><TD STYLE="border-right: Black 1.5pt solid; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt; padding-left: 0.75pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1.5pt solid; border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2018, the World Gold Council
(&ldquo;WGC&rdquo;) published updates to its guidelines for reporting all-in sustaining costs and all-in costs to address how the
costs associated with leases, after a company&rsquo;s adoption of IFRS 16, should be treated. The WGC is a market development organization
for the gold industry and is an association whose membership comprises leading gold mining companies including Kinross. Although
the WGC is not a mining industry regulatory organization, it worked closely with its member companies to develop these non-GAAP
measures. Adoption of the all-in sustaining cost and all-in cost metrics is voluntary and not necessarily standard, and therefore,
these measures presented by the Company may not be comparable to similar measures presented by other issuers. The Company believes
that the all-in sustaining cost and all-in cost measures complement existing measures reported by Kinross.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All-in sustaining cost includes both operating
and capital costs required to sustain gold production on an ongoing basis. The value of silver sold is deducted from the total
production cost of sales as it is considered residual production. Sustaining operating costs represent expenditures incurred at
current operations that are considered necessary to maintain current production. Sustaining capital represents capital expenditures
at existing operations comprising mine development costs and ongoing replacement of mine equipment and other capital facilities,
and does not include capital expenditures for major growth projects or enhancement capital for significant infrastructure improvements
at existing operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All-in cost is comprised of all-in sustaining
cost as well as operating expenditures incurred at locations with no current operation, or costs related to other non-sustaining
activities, and capital expenditures for major growth projects or enhancement capital for significant infrastructure improvements
at existing operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attributable all-in sustaining cost and
all-in cost per ounce sold on a by-product basis are calculated by adjusting total production cost of sales, as reported on the
consolidated statement of operations, as follows:</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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="border-top: rgb(197,155,95) 2pt solid; width: 86%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B>p.
                                                                                                                                                                18 </B></FONT><B> <FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F">Kinross reports
                                                                                                                                                                2019 fourth-quarter and full-year results</FONT></B></TD><TD STYLE="border-top: rgb(197,155,95) 2pt solid; width: 14%; padding-top: 3pt; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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


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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="tm1922103-1img_001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; color: rgb(197,155,95)"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; border-top: Black 2pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Attributable All-In Sustaining Cost and All-In Cost Per Ounce Sold</TD><TD STYLE="border-right: Black 2pt solid; border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">on a By-Product Basis</TD><TD STYLE="border-right: Black 2pt solid; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: italic 10pt Times New Roman, Times, Serif">(in millions, except ounces and costs per ounce)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three months ended</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Years ended</TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2019</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2018</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2019</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2018</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-right: Black 2pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; width: 48%; text-align: left">Production cost of sales - as reported</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">500.5</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">476.4</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">1,778.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">1,860.5</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: portion attributable to Chirano non-controlling interest<SUP>(1)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(4.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(4.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(19.0</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(17.3</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: attributable<SUP>(2)</SUP> silver revenue<SUP>(3)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(20.4</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(15.2</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(75.1</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(66.4</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attributable<SUP>(2)</SUP> production cost of sales net of silver by-product revenue</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">475.2</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">457.2</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,684.8</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,776.8</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjusting items on an attributable<SUP>(2)</SUP> basis:</FONT></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 2pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">General and administrative<SUP>(4)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">31.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">32.8</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">123.6</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">133.0</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other operating expense - sustaining<SUP>(5)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">8.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(20.2</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">24.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6.2</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Reclamation and remediation - sustaining<SUP>(6)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">13.0</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11.6</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">48.2</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">52.2</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exploration and business development - sustaining<SUP>(7)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">15.4</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12.3</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">66.0</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">53.2</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Additions to property, plant and equipment - sustaining<SUP>(8)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">132.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">102.2</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">415.1</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">335.0</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Lease payments - sustaining<SUP>(9)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3.5</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">12.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All-in Sustaining Cost on a by-product basis - attributable<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">679.4</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">595.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,375.1</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,356.4</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other operating expense - non-sustaining<SUP>(5)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">16.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">15.3</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">57.0</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">48.7</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Reclamation and remediation - non-sustaining<SUP>(6)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">6.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">7.5</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exploration - non-sustaining<SUP>(7)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">14.5</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">19.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">46.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">55.4</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Additions to property, plant and equipment - non-sustaining<SUP>(8)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">159.8</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">170.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">637.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">665.0</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Lease payments - non-sustaining<SUP>(9)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">0.4</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1.6</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All-in Cost on a by-product basis - attributable<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">872.1</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">803.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,125.2</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">3,133.0</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Gold ounces sold</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">657,179</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">628,842</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,458,839</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,480,529</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Less: portion attributable to Chirano non-controlling interest<SUP>(10)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(4,717</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(4,912</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(20,161</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(22,460</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attributable<SUP>(2)</SUP> gold ounces sold </FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">652,462</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">623,930</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,438,678</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,458,069</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attributable<SUP>(2)</SUP> all-in sustaining cost per ounce sold on a by-product basis&nbsp;&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,041</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">955</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">974</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">959</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attributable<SUP>(2)</SUP> all-in cost per ounce sold on a by-product basis&nbsp;&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,337</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,287</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,282</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,275</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; border-bottom: Black 2pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 2pt solid; border-bottom: Black 2pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company also assesses its all-in sustaining
cost and all-in cost on a gold equivalent ounce basis. Under these non-GAAP measures, the Company&rsquo;s production of silver
is converted into gold equivalent ounces and credited to total production.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attributable all-in sustaining cost and
all-in cost per equivalent ounce sold are calculated by adjusting total production cost of sales, as reported on the consolidated
statement of operations, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="vertical-align: top"><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; width: 86%"><FONT STYLE="color: gray">p. <B>19</B></FONT><B> <FONT STYLE="color: #C59B5F">Kinross
reports 2019 fourth-quarter and full-year results</FONT></B>


</TD><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; font-size: 10pt; text-align: right; width: 14%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR>
</TABLE>

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


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

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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="tm1922103-1img_001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; color: rgb(197,155,95)"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 2pt solid; border-left: Black 2pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="border-top: Black 2pt solid; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Attributable All-In Sustaining Cost and All-In Cost<BR> Per Equivalent Ounce Sold</TD><TD STYLE="border-right: Black 2pt solid; border-top: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: italic 10pt Times New Roman, Times, Serif">(in millions, except ounces and costs per equivalent ounce)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three months ended</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Years ended</TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">December 31,</TD><TD STYLE="border-right: Black 2pt solid; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2019</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2018</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2019</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2018</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="border-right: Black 2pt solid; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; width: 48%; text-align: left">Production cost of sales - as reported</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">500.5</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">476.4</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">1,778.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">1,860.5</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: portion attributable to Chirano non-controlling interest<SUP>(1)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(4.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(4.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(19.0</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(17.3</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attributable<SUP>(2)</SUP> production cost of sales</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">495.6</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">472.4</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,759.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,843.2</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjusting items on an attributable<SUP>(2)</SUP> basis:</FONT></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 2pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">General and administrative<SUP>(4)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">31.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">32.8</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">123.6</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">133.0</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other operating expense - sustaining<SUP>(5)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">8.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(20.2</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">24.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6.2</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Reclamation and remediation - sustaining<SUP>(6)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">13.0</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11.6</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">48.2</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">52.2</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exploration and business development - sustaining<SUP>(7)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">15.4</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12.3</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">66.0</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">53.2</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Additions to property, plant and equipment - sustaining<SUP>(8)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">132.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">102.2</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">415.1</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">335.0</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Lease payments - sustaining<SUP>(9)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3.5</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">12.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All-in Sustaining Cost - attributable<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">699.8</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">611.1</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,450.2</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,422.8</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other operating expense - non-sustaining<SUP>(5)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">16.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">15.3</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">57.0</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">48.7</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Reclamation and remediation - non-sustaining<SUP>(6)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">6.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">7.5</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exploration - non-sustaining<SUP>(7)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">14.5</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">19.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">46.7</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">55.4</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Additions to property, plant and equipment - non-sustaining<SUP>(8)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">159.8</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">170.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">637.9</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">665.0</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Lease payments - non-sustaining<SUP>(9)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">0.4</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">1.6</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All-in Cost - attributable<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">892.5</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">818.2</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,200.3</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">3,199.4</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Gold equivalent ounces sold</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">670,917</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">641,101</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,512,758</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,532,912</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: portion attributable to Chirano non-controlling interest<SUP>(10)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(4,718</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(4,918</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(20,186</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(22,493</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attributable<SUP>(2)</SUP> gold equivalent ounces sold </FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">666,199</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">636,183</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: right">2,492,572</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,510,419</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attributable<SUP>(2)</SUP> all-in sustaining cost per equivalent ounce sold </FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,050</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">961</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">983</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">965</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attributable<SUP>(2)</SUP> all-in cost per equivalent ounce sold </FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,340</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,286</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">1,284</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,274</TD><TD STYLE="border-right: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 2pt solid; border-bottom: Black 2pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 2pt solid; border-bottom: Black 2pt solid; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">The portion attributable to Chirano non-controlling interest represents the non-controlling interest
(10%) in the production cost of sales for the Chirano mine.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">&ldquo;Attributable&rdquo; includes Kinross' share of Chirano (90%) production.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">&ldquo;Attributable silver revenue&rdquo; represents the attributable portion of metal sales realized
from the production of the secondary or by-product metal (i.e. silver). Revenue from the sale of silver, which is produced as a
by-product of the process used to produce gold, effectively reduces the cost of gold production.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">&ldquo;General and administrative&rdquo; expenses is as reported on the consolidated statement
of operations, net of certain restructuring expenses. General and administrative expenses are considered sustaining costs as they
are required to be absorbed on a continuing basis for the effective operation and governance of the Company.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(5)</TD><TD STYLE="text-align: justify">&ldquo;Other operating expense &ndash; sustaining&rdquo; is calculated as &ldquo;Other operating
expense&rdquo; as reported on the consolidated statement of operations, less other operating and reclamation and remediation expenses
related to non-sustaining activities as well as other items not reflective of the underlying operating performance of our business.
Other operating expenses are classified as either sustaining or non-sustaining based on the type and location of the expenditure
incurred. The majority of other operating expenses that are incurred at existing operations are considered costs necessary to sustain
operations, and are therefore classified as sustaining. Other operating expenses incurred at locations where there is no current
operation or related to other non-sustaining activities are classified as non-sustaining.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(6)</TD><TD STYLE="text-align: justify">&ldquo;Reclamation and remediation - sustaining&rdquo; is calculated as current period accretion
related to reclamation and remediation obligations plus current period amortization of the corresponding reclamation and remediation
assets, and is intended to reflect the periodic cost of reclamation and remediation for currently operating mines. Reclamation
and remediation costs for development projects or closed mines are excluded from this amount and classified as non-sustaining.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(7)</TD><TD STYLE="text-align: justify">&ldquo;Exploration and business development &ndash; sustaining&rdquo; is calculated as &ldquo;Exploration
and business development&rdquo; expenses as reported on the consolidated statement of operations, less non-sustaining exploration
expenses. Exploration expenses are classified as either sustaining or non-sustaining based on a determination of the type and location
of the exploration expenditure. Exploration expenditures within the footprint of operating mines are considered costs required
to sustain current operations and so are included in sustaining costs. Exploration expenditures focused on new ore bodies near
existing mines (i.e. brownfield), new exploration projects (i.e. greenfield) or for other generative exploration activity not linked
to existing mining operations are classified as non-sustaining. Business development expenses are considered sustaining costs as
they are required for general operations.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(8)</TD><TD STYLE="text-align: justify">&ldquo;Additions to property, plant and equipment &ndash; sustaining&rdquo; represents the majority
of capital expenditures at existing operations including capitalized exploration costs, periodic capitalized stripping and underground
mine development costs, ongoing replacement of mine equipment and other capital facilities and other capital expenditures and is
calculated as total additions to property, plant and equipment (as reported on the consolidated statements of cash flows), less
capitalized interest and non-sustaining capital. Non-sustaining capital represents capital expenditures for major projects, including
major capital stripping projects at existing operations that are expected to materially benefit the operation, as well as enhancement
capital for significant infrastructure improvements at existing operations. Non-sustaining capital expenditures during the year
ended December 31, 2019, primarily relate to major projects at Tasiast, Round Mountain, Bald Mountain, and Fort Knox. Non-sustaining
capital expenditures during the year ended December 31, 2018, primarily related to major projects at Tasiast, Round Mountain, and
Bald Mountain.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(9)</TD><TD STYLE="text-align: justify">&ldquo;Lease payments &ndash; sustaining&rdquo; represents the majority of lease payments as reported
on the consolidated statements of cash flows and is made up of the principal and financing components of such cash payments, less
non-sustaining lease payments. Lease payments for development projects or closed mines are classified as non-sustaining.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(10)</TD><TD STYLE="text-align: justify">&ldquo;Portion attributable to Chirano non-controlling interest&rdquo; represents the non-controlling
interest (10%) in the ounces sold from the Chirano mine.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(11)</TD><TD STYLE="text-align: justify">&ldquo;Average realized gold price per ounce&rdquo; is a non-GAAP financial measure and is defined
as gold metal sales divided by the total number of gold ounces sold. This measure is intended to enable Management to better understand
the price realized in each reporting period. The realized price measure does not have any standardized definition under IFRS and
should not be considered a substitute for measure of performance prepared in accordance with IFRS.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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="vertical-align: top"><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; width: 86%"><FONT STYLE="color: gray">p. <B>20</B></FONT><B> <FONT STYLE="color: #C59B5F">Kinross
reports 2019 fourth-quarter and full-year results</FONT></B>


</TD><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; font-size: 10pt; text-align: right; width: 14%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR>
</TABLE>

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


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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="tm1922103-1img_001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; color: rgb(197,155,95)"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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, but are not limited to, those under the headings (or headings that include) &ldquo;2019 full year results and
2020 guidance&rdquo;, &ldquo;CEO Commentary&rdquo;, &ldquo;Tasiast Project Financing&rdquo; and &ldquo;2020 Outlook&rdquo; as well
as statements with respect to our guidance for production, production costs of sales, all-in sustaining cost and capital expenditures;
the schedules and budgets for the Company&rsquo;s development projects; mine life; and continuous improvement initiatives, as well
as references to other possible events, the future price of gold and silver, the timing and amount of estimated future production,
costs of production, capital expenditures, costs and timing of the development of projects and new deposits, estimates and the
realization of such estimates (such as mineral or gold reserves and resources or mine life), success of exploration, development
and mining, currency fluctuations, capital requirements, project studies, mine life extensions, government regulation permit applications
and conversions, restarting suspended or disrupted operations; environmental risks and proceedings; and pending litigation. The
words &ldquo;anticipate&rdquo;, &ldquo;continue&rdquo;, &ldquo;estimates&rdquo;, &ldquo;expects&rdquo;, &ldquo;forecast&rdquo;,
 &ldquo;guidance&rdquo;, &ldquo;on budget&rdquo;, &ldquo;on schedule&rdquo;, &ldquo;outlook&rdquo;, &ldquo;progress&rdquo;, or variations
of or similar such words and phrases or statements that certain actions, events or results may, could, should or will be achieved,
received or taken, or will occur or result and similar such 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 Management&rsquo;s
Discussion and Analysis (&ldquo;MD&amp;A&rdquo;) for the year ended December 31, 2019, and the Annual Information Form dated March
29, 2019 as well as: (1) there being no significant disruptions affecting the operations of the Company, whether due to extreme
weather events (including, without limitation, excessive or lack of rainfall, in particular, the potential for further production
curtailments at Paracatu resulting from insufficient rainfall and the operational challenges at Fort Knox and Bald Mountain resulting
from excessive rainfall, which can impact costs and/or production) and other or related natural disasters, labour disruptions (including
but not limited to workforce reductions), supply disruptions, power disruptions, damage to equipment, pit wall slides (in particular
that the effects of the pit wall slides at Fort Knox and Round Mountain are consistent with the Company&rsquo;s expectations) or
otherwise; (2) permitting, development, operations and production from the Company&rsquo;s operations and development projects
being consistent with Kinross&rsquo; current expectations including, without limitation: the maintenance of existing permits and
approvals and the timely receipt of all permits and authorizations necessary for the operation of the Tasiast Phase One expansion,
and the development and operation of the 24k Project; operation of the SAG mill at Tasiast; land acquisitions and permitting for
the construction and operation of the new tailings facility, water and power supply and continued operation of the tailings reprocessing
facility at Paracatu; and the parliamentary ratification of the Chirano mining permit in a manner consistent with the Company&rsquo;s
expectations; (3) political and legal developments in any jurisdiction in which the Company operates being consistent with its
current expectations including, without limitation, the impact of any political tensions and uncertainty in the Russian Federation
and Ukraine or any related sanctions and any other similar restrictions or penalties imposed, or actions taken, by any government,
including but not limited to amendments to the mining laws, and potential power rationing and tailings facility regulations in
Brazil, potential amendments to water laws and/or other water use restrictions and regulatory actions in Chile, new dam safety
regulations, and potential amendments to minerals and mining laws and energy levies laws, and the enforcement of labour laws in
Ghana, new regulations relating to work permits, potential amendments to customs and mining laws (including but not limited to
amendments to the VAT) and the pending implementation of revisions to the tax code in Mauritania, and satisfactory resolution of
the discussions with the Mauritanian government regarding the Company&rsquo;s activities in Mauritania including those related
to Tasiast Sud, VAT and fuel duty exonerations and the sharing of economic benefits from the operation, the European Union&rsquo;s
General Data Protection Regulation or similar legislation in other jurisdictions and potential amendments to and enforcement of
tax laws in Russia (including, but not limited to, the interpretation, implementation, application and enforcement of any such
laws and amendments thereto), and the impact of any trade tariffs being consistent with Kinross&rsquo; current expectations; (4)
the completion of studies, including optimization studies, scoping studies and prefeasibility and feasibility studies, on the timelines
currently expected and the results of those studies being consistent with Kinross&rsquo; current expectations, including the completion
of the La Coipa feasibility study and the Lobo-Marte pre-feasibility study; (5) the exchange rate between the Canadian dollar,
Brazilian real, Chilean peso, Russian rouble, Mauritanian ouguiya, Ghanaian cedi and the U.S. dollar being approximately consistent
with current levels; (6) certain price assumptions for gold and silver; (7) prices for diesel, natural gas, fuel oil, electricity
and other key supplies being approximately consistent with current levels; (8) production and cost of sales forecasts for the Company
meeting expectations; (9) 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), mine plans for the Company&rsquo;s mining operations, and the Company&rsquo;s
internal models; (10) labour and materials costs increasing on a basis consistent with Kinross&rsquo; current expectations; (11)
the terms and conditions of the legal and fiscal stability agreements for the Tasiast and Chirano operations being interpreted
and applied in a manner consistent with their intent and Kinross&rsquo; expectations and without material amendment or formal dispute
(including without limitation the application of tax, customs and duties exemptions and royalties); (12) goodwill and/or asset
impairment potential; (13) the regulatory and legislative regime regarding mining, electricity production and transmission (including
rules related to power tariffs) in Brazil being consistent with Kinross&rsquo; current expectations; (14) access to capital markets,
including but not limited to maintaining our current credit ratings consistent with the Company&rsquo;s current expectations; (15)
that the Brazilian power plants will operate in a manner consistent with our current expectations; (16) that drawdown of funds
under the Tasiast project financing will proceed in a manner consistent with our current expectations; (17) potential direct or
indirect operational impacts resulting from infectious diseases or pandemics; and (18) litigation and regulatory proceedings and
the potential ramifications thereof being concluded in a manner consistent with the Company&rsquo;s expectations (including without
limitation the ongoing litigation in Chile relating to the alleged damage of wetlands and the scope of any remediation plan or
other environmental obligations arising therefrom, the ongoing litigation with the Russian tax authorities regarding dividend withholding
tax and the ongoing Sunnyside litigation regarding potential CERCLA liability). 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: 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&rsquo;s business, operations or other activities in, any such jurisdiction; 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, production royalties, 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 Canada, the United States,</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><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="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; width: 86%"><FONT STYLE="color: gray">p. <B>21</B></FONT><B> <FONT STYLE="color: #C59B5F">Kinross
reports 2019 fourth-quarter and full-year results</FONT></B>


</TD><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; font-size: 10pt; text-align: right; width: 14%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR>
</TABLE>

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

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

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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="tm1922103-1img_001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P></TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; color: rgb(197,155,95)"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Chile, Brazil, Russia, Mauritania, Ghana, or other countries in which Kinross
does business or may carry on business; business opportunities that may be presented to, or pursued by, us; 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,
administrative orders 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, environmental litigation or regulatory proceedings
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 ratings; 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&rsquo; 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&rsquo;s expectations and plans
relating to the future. All of the forward-looking statements made in this news release are qualified by this cautionary statement
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 &ldquo;Risk Analysis&rdquo; section of our MD&amp;A for the year ended December 31, 2019
and the Annual Information Form dated March 29, 2019. 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: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Where we say &quot;we&quot;, &quot;us&quot;,
 &quot;our&quot;, the &quot;Company&quot;, or &quot;Kinross&quot; in this presentation, 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: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>The technical information about the
Company&rsquo;s mineral properties contained in this presentation has been prepared under the supervision of Mr. John Sims, an
officer of the Company who is a &ldquo;qualified person&rdquo; within the meaning of National Instrument 43-101. </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Source: Kinross Gold Corporation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; width: 86%"><FONT STYLE="color: gray">p. <B>22</B></FONT><B> <FONT STYLE="color: #C59B5F">Kinross
reports 2019 fourth-quarter and full-year results</FONT></B>


</TD><TD STYLE="border-top: rgb(197,155,95) 2pt solid; padding-top: 3pt; font-size: 10pt; text-align: right; width: 14%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: gray"><B><I>www.kinross.com</I></B></FONT></TD></TR>
</TABLE>

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


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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm207819d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 99.2</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
                                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: gray">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: gray"><B>For more information, </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: gray"><B>please see Kinross&#8217;
2019 year-end<BR>
Financial Statements, MD&amp;A </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: gray"><B>and results news release</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="color: gray"><B>at </B></FONT><B><U>www.kinross.com</U></B></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"></P>


</TD>
</TR></TABLE>

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

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

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #C69C5F"><B>Kinross provides update
on development projects and full-year 2019 exploration results </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #C69C5F">Company adds 7.7 million
gold ounces to estimated measured and indicated resources</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #C69C5F">Mineral reserve addition
of 828 koz. at Paracatu; Kupol and Chirano extend mine life by one year</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #C69C5F">Company to proceed with
La Coipa Restart project in Chile</P>



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



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

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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>


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


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Toronto, Ontario </B>&#8211; <B>February
12, 2020</B> &#8211; Kinross Gold Corporation (TSX:K; NYSE:KGC) today provided updates on its development projects, exploration
program and its estimated mineral reserves and resources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>(This news release contains forward-looking
information about expected financial and operating performance of the Company. All mineral reserves and mineral resources, as well
as mine life disclosures, are estimates. All dollar amounts are expressed in U.S. dollars, unless otherwise noted) </I></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Tasiast 24k</B>: Proceeding on schedule
and on budget to increase throughput to 21,000 t/d by year-end 2021 and 24,000 t/d by mid-2023. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Chulbatkan: </B>Completed acquisition
of a high-quality and prospective project, and commenced a substantial exploration drilling program with the goal of adding to
the current 3.9 million Au oz. indicated resource base by year-end.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>La
                                         Coipa Restart: </B>Proceeding with the project that is expected to generate an internal
                                         rate of return<FONT STYLE="text-decoration: overline"><SUP>1</SUP></FONT> (IRR) of 28%
                                         and net present value<SUP>1, 2</SUP> (NPV) of $118 million based on a $1,200/oz. gold
                                         price and $17/oz. silver price.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Fort Knox Gilmore</B>: Proceeding on
schedule and on budget, with stacking on the new heap leach pad expected to commence in Q4 2020. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Exploration and Mineral Reserves and Resources</B><SUP>3</SUP>
<B>update: </B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Company added 7.7 million ounces to measured
and indicated mineral resources in 2019, a 28% year-over-year increase, mainly due to the acquisition of <B>Chulbatkan</B>, and
additions of 1.2 million Au oz. at <B>Lobo-Marte</B>, 1.1 million Au oz. at <B>Paracatu</B>, 568 Au koz. at <B>Bald Mountain</B>
and 553 Au koz. at <B>Round Mountain</B>. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Paracatu</B> added 828 Au koz. to mineral
reserve estimates, more than offsetting depletion in 2019.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mineral reserve additions at <B>Chirano</B>,
which more than offset depletion, and at <B>Kupol</B>, extended mine life by one year to 2022 and 2024, respectively. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In 2020, Kinross is prioritizing exploration
drilling at several operations, including Kupol, Chulbatkan and Chirano, as the Company continues to focus on opportunities for
mineral resource and reserve additions. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>J. Paul Rollinson, President and CEO, made the following
comments in relation to Kinross&#8217; development projects: </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#8220;We achieved key project and exploration
milestones in 2019 to strengthen our portfolio and future production profile. Significant additions to mineral reserve and resource
estimates at Paracatu improved the mine&#8217;s long-term production outlook and offset depletion, while the mineral reserve additions
from our exploration programs at Kupol and Chirano extended mine life at both operations by one year. The Tasiast 24k project is
proceeding on plan, while at the same time, the mine continues to achieve record operational results due to the Phase One expansion.
The Fort Knox Gilmore project is on schedule to start stacking on the new heap leach pad in Q4 2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#8220;We are excited about our newly acquired
high-quality Chulbatkan project, which we expect to be a substantial open pit, heap leach mine. The project has a strong base case
and good upside potential, and we have a substantial drilling program planned for 2020 with the goal of adding to its resource
estimates by year-end. We are also proceeding with the La Coipa Restart project, which has strong economics, adds to our production
profile, and provides the option to continue studying opportunities in the area.&#8221;</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>1 After tax and incremental to estimated
reclamation costs, of which the majority will be deferred to the end of the project. Corporate income tax expense is not expected
to be payable at $1,200/oz. gold price in Chile as a result of the use of existing tax losses and the Company expects to recover
approximately $20 million existing VAT credits through the project&rsquo;s life.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>2 Based on a 5% discount rate.</I></P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">3 <I>See also Kinross&rsquo; Annual Mineral Reserve and Mineral
Resource Statement, estimated as at December 31, 2019, and explanatory notes starting at page 16.</I></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: gray"><I>www.kinross.com</I></P>



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

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<TD STYLE="width: 50%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Tasiast 24k project</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 24k project continues to advance well
and remains on budget and on schedule to increase throughput capacity to 21,000 t/d by the end of 2021 and then to 24,000 t/d by
mid-2023.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Stripping continues on plan, detailed engineering
is largely complete, and procurement and contracting activities are well underway. The construction team has mobilized to site
and initial debottlenecking work in the processing plant has commenced, along with construction activities related to the installation
of a power plant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company signed the $300 million project
financing for Tasiast with the IFC (a member of the World Bank Group), Export Development Canada, and two commercial banks on December
16, 2019. The first funding draw from the loan, which is non-recourse to Kinross, is expected later in Q1 2020.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 16, 2020, the Company completed
the acquisition of the high-quality Chulbatkan project in Russia. Chulbatkan has upside potential and is expected to be a substantial,
open pit gold mine with low costs. The project currently has a large, near-surface, relatively high grade estimated mineral resource.
The deposit is heap leachable and has potential for additional high-grade structures. Mineralization is open along strike and at
depth, and is highly continuous.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#8217;s initial mineral resource
estimate does not include results from the confirmatory drilling program, which includes one hole that has encountered a potential
high-grade structure within the existing mineral resource. Infill drilling and studies are planned this year to update the high-grade
portion of the known resource with the goal of defining and further extending the resource base at year-end 2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kinross has also commenced a $10 million
exploration drilling program within the under-explored, highly prospective 120 sq. km license area, which has numerous untested
potential targets and several structural environments analogous to the Chulbatkan deposit. Multiple downstream placer gold occurrences
also indicate additional hard rock source mineralization may be found within the license area. As well, numerous surface rock samples
with grades greater than 1 g/t have been collected outside of the defined resource area.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Company to proceed with La Coipa Restart
project</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is proceeding with the La Coipa
Restart project in Chile based on a feasibility study (FS) that contemplates leveraging existing infrastructure to mine the Phase
7 deposit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The open pit project is expected to produce
a total of approximately 690 Au eq. koz. from 2022 to 2024 at a cost of sales of $575 per Au eq. oz. Initial capital costs are
expected to be approximately $225 million, with pre-stripping scheduled to begin in late 2020. Approximately $45 million of the
initial capital costs are expected to be spent in 2020, with the remainder spent in 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Production is expected to start in Q1 2022,
strengthening Kinross&#8217; portfolio and production profile and allowing the Company to maintain optionality to continue studying
potential upside opportunities in the area.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-right: 1pt">
<TR STYLE="background-color: black">
    <TD COLSPAN="2" STYLE="padding: 2pt 5.4pt; border: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>La
    Coipa project feasibility study highlights</B><SUP>4</SUP></FONT></TD></TR>
<TR>
    <TD STYLE="width: 55%; 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">Life of mine production (thousand Au eq. oz.)</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: black 1pt solid; border-right: 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">690</FONT></TD></TR>
<TR>
    <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">Life of mine ore processed (million tonnes)</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">10.9</FONT></TD></TR>
<TR>
    <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 grade processed (Au eq. g/t)</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">2.9</FONT></TD></TR>
<TR>
    <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">Strip ratio (2020 - 2024)</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">5.0</FONT></TD></TR>
<TR>
    <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">Strip ratio (2022 - 2024)</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">2.8</FONT></TD></TR>
<TR>
    <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 production cost of sales (per Au eq. 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">$575</FONT></TD></TR>
<TR>
    <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
all-in sustaining costs<SUP>5</SUP> (per Au eq. 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">$670</FONT></TD></TR>
<TR>
    <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 recovery rate Au </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">75%</FONT></TD></TR>
<TR>
    <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 recovery rate Ag </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">60%</FONT></TD></TR>
<TR>
    <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 processing cost (per tonne)</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">$21.10</FONT></TD></TR>
<TR>
    <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 mining cost (per tonne mined) (2022 - 2024) </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">$2.66*</FONT></TD></TR>
<TR>
    <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">Life of mine average G&amp;A costs (per tonne processed) </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">$6.47</FONT></TD></TR>
<TR>
    <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 (million) (2020 - 2021)</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">$225</FONT></TD></TR>
<TR>
    <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">Sustaining capital (million) (2022 - 2024)</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">$25**</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>4 Based on a $1,200 per ounce gold
price and $17 per ounce silver price assumptions and $65/bbl oil price assumption and 725 Chilean peso to the U.S. dollar.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>5 Throughout this news release, forecast site-level all-in
sustaining cost excludes corporate overhead costs. This is a non-GAAP measure and is not defined under IFRS. Refer to &ldquo;Reconciliation
of non-GAAP financial measures&rdquo; section in the Company&rsquo;s MD&amp;A as at December 31, 2019 and for the year then ended.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>*excludes 2020 - 2021 pre-stripping
costs which are included in initial capital costs</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>**excludes sustaining capitalized stripping</I></P>

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

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

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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 2</B></FONT><B> <FONT STYLE="color: #c59b5f">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>





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

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

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<TD STYLE="width: 50%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
                                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P>
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</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The project is expected to generate an
IRR<SUP>1</SUP> of 28% and NPV<SUP>1, 2</SUP> of $118 million based on a $1,200/oz. gold price and $17/oz. silver price, and an
IRR<SUP>1</SUP> of 42% and NPV<SUP>1, 2</SUP> of $194 million based on a $1,500/oz. gold price and $17.50/oz. silver price.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="5" STYLE="border: black 1pt solid; padding-right: 5.4pt; padding-left: 0.25in; text-align: center; text-indent: -0.25in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: white"><B>La Coipa gold and silver price sensitivity estimates</B></P>

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

</TD></TR>
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    <TD STYLE="width: 19%; border-left: black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; border-right: 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; color: white"><B>$1,200/oz. Au</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>$17/oz. Ag</B></P></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; border-right: 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; color: white"><B>$1,400/oz. Au</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>$18/oz. Ag</B></P></TD>
    <TD STYLE="width: 25%; border-bottom: Black 1pt solid; border-right: 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; color: white"><B>$1,600/oz. Au</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>$19/oz. Ag</B></P></TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; border-right: 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; color: white"><B>$1,800/oz. Au</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>$20/oz. Ag</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IRR</B><SUP>1</SUP></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39%</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">50%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">59%</FONT></TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NPV</B><SUP>1, 2 </SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$118 million</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$177 million</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$233 million</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$290 million</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The project plan includes refurbishing
the existing process plant, camp and other infrastructure, as well as the mine fleet from the Maricunga operation that has recently
been placed on care and maintenance. All major permits required to proceed with La Coipa Phase 7 are in place.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 70%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-right: 1pt">
<TR STYLE="background-color: black">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 76%; padding-right: 4pt; padding-left: 4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>La Coipa initial capital costs (2020 &#8211; 2021)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 24%; padding-right: 4pt; padding-left: 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 plant refurbishments</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 20.2pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT></TD></TR>
<TR>
    <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">Mining fleet and infrastructure</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 20.2pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD></TR>
<TR>
    <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">EPCM, indirects, operational readiness, and other</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 20.2pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">50</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: 20.2pt; 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">Pre-stripping</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 20.2pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55</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: 20.2pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>225</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Puren<SUP>6</SUP> deposit, which
was included as part of the initial pre-feasibility study, was not incorporated into the project FS as a joint venture agreement
has not been finalized. The Company will continue to explore opportunities to incorporate adjacent deposits with existing mineral
reserves and resources, particularly Puren, Coipa Norte and Can Can, into the La Coipa mine plan with the goal of extending mine
life. This includes conducting further technical studies, assessing permitting requirements, and continuing commercial discussions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">See Appendix A (Figure 1) for La Coipa
cross section.</P>

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

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

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

<P STYLE="margin: 0pt 0"><I>6 Kinross has a 65% interest in Puren.</I></P>

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



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

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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 3</B></FONT><B> <FONT STYLE="color: #c59b5f">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>







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

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<TD STYLE="width: 50%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
                                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P>
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</TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 COLSPAN="4" STYLE="padding: 2pt 5.4pt; white-space: nowrap; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>La Coipa Mineral Reserve and Resource estimates<SUP>3</SUP> &#8211; Gold </B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="white-space: nowrap; width: 43%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%; border-bottom: Black 1pt solid; border-right: 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; color: white"><B>Tonnage</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Mt)</I></P></TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; border-right: 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; color: white"><B>Grade</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Au g/t)</I></P></TD>
    <TD STYLE="white-space: nowrap; width: 24%; border-bottom: Black 1pt solid; border-right: 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; color: white"><B>Ounces</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Au koz.)</I></P></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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; color: black"><B><U>Proven and Probable Reserves</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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; color: black"><I>&nbsp;&nbsp;&nbsp;&nbsp;Phase 7</I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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: black">10.9</FONT></TD>
    <TD STYLE="white-space: nowrap; 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: black">1.5</FONT></TD>
    <TD STYLE="white-space: nowrap; 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: black">539</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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; color: black"><I>&nbsp;&nbsp;&nbsp;&nbsp;Puren</I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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: black">3.9</FONT></TD>
    <TD STYLE="white-space: nowrap; 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: black">1.8</FONT></TD>
    <TD STYLE="white-space: nowrap; 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: black">229</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; 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; color: black"><I>&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</I><B>Total </B></FONT></TD>
    <TD STYLE="white-space: nowrap; 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: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>14.8</B></P></TD>
    <TD STYLE="white-space: nowrap; 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: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1.6</B></P></TD>
    <TD STYLE="white-space: nowrap; 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: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>768*</B></P></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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><U>Measured and Indicated Resources</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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"><I>&nbsp;&nbsp;&nbsp;&nbsp;Phase 7 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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">2.4</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">1.6</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">124</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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"><I>&nbsp;&nbsp;&nbsp;&nbsp;Catalina</I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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">3.6</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">2.9</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">328</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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"><I>&nbsp;&nbsp;&nbsp;&nbsp;Coipa Norte</I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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">5.2</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">1.3</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">211</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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"><I>&nbsp;&nbsp;&nbsp;&nbsp;Can Can </I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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">2.2</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">2.1</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">142</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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"><I>&nbsp;&nbsp;&nbsp;&nbsp;Puren </I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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">1.6</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">1.4</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">73</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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"><I>&nbsp;&nbsp;&nbsp;&nbsp;Other </I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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">1.1</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">2.1</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">77</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; 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"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Total</B></P></TD>
    <TD STYLE="white-space: nowrap; 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: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>16.0</B></P></TD>
    <TD STYLE="white-space: nowrap; 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: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1.9</B></P></TD>
    <TD STYLE="white-space: nowrap; 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: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>955*</B></P></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; 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>Inferred Resources</B></FONT></TD>
    <TD STYLE="white-space: nowrap; 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>2.1</B></FONT></TD>
    <TD STYLE="white-space: nowrap; 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>1.5</B></FONT></TD>
    <TD STYLE="white-space: nowrap; 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>101</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>*Totals may not fully add up due to
rounding.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 COLSPAN="4" STYLE="padding: 2pt 5.4pt; white-space: nowrap; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>La Coipa Mineral Reserve and Resource estimates<SUP>3</SUP> &#8211; Silver</B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="white-space: nowrap; width: 43%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%; border-bottom: Black 1pt solid; border-right: 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; color: white"><B>Tonnage</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Mt)</I></P></TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; border-right: 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; color: white"><B>Grade</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Ag g/t)</I></P></TD>
    <TD STYLE="white-space: nowrap; width: 24%; border-bottom: Black 1pt solid; border-right: 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; color: white"><B>Ounces</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Ag koz.)</I></P></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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; color: black"><B><U>Proven and Probable Reserves</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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; color: black"><I>&nbsp;&nbsp;&nbsp;&nbsp;Phase 7</I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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: black">10.9</FONT></TD>
    <TD STYLE="white-space: nowrap; 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: black">96.3</FONT></TD>
    <TD STYLE="white-space: nowrap; 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: black">33,748</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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; color: black"><I>&nbsp;&nbsp;&nbsp;&nbsp;Puren</I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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: black">3.9</FONT></TD>
    <TD STYLE="white-space: nowrap; 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: black">31.1</FONT></TD>
    <TD STYLE="white-space: nowrap; 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: black">3,857</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; 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; color: black"><I>&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</I><B>Total </B></FONT></TD>
    <TD STYLE="white-space: nowrap; 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: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>14.8</B></P></TD>
    <TD STYLE="white-space: nowrap; 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: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>79.2</B></P></TD>
    <TD STYLE="white-space: nowrap; 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: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>37,605*</B></P></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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><U>Measured and Indicated Resources</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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"><I>&nbsp;&nbsp;&nbsp;&nbsp;Phase 7 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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">2.4</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">64.7</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">4,945</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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"><I>&nbsp;&nbsp;&nbsp;&nbsp;Catalina</I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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">3.6</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">68.7</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">7,885</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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"><I>&nbsp;&nbsp;&nbsp;&nbsp;Coipa Norte</I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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">5.2</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">33.5</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">5,586</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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"><I>&nbsp;&nbsp;&nbsp;&nbsp;Can Can </I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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">2.2</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">39.3</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">2,721</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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"><I>&nbsp;&nbsp;&nbsp;&nbsp;Puren </I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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">1.6</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">96.7</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">4,904</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: 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"><I>&nbsp;&nbsp;&nbsp;&nbsp;Other </I></FONT></TD>
    <TD STYLE="white-space: nowrap; 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">1.1</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">26.3</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">960</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; 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"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Total</B></P></TD>
    <TD STYLE="white-space: nowrap; 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: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>16.0</B></P></TD>
    <TD STYLE="white-space: nowrap; 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: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>52.5</B></P></TD>
    <TD STYLE="white-space: nowrap; 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: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>27,002*</B></P></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; 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>Inferred Resources</B></FONT></TD>
    <TD STYLE="white-space: nowrap; 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>2.1</B></FONT></TD>
    <TD STYLE="white-space: nowrap; 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>43.1</B></FONT></TD>
    <TD STYLE="white-space: nowrap; 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>2,890</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>*Totals may not fully add up due to
rounding.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The pre-feasibility study (PFS) at <B>Lobo-Marte</B>
is proceeding as planned and is scheduled to be completed mid-year. The PFS is based on the concept of commencing Lobo-Marte production
after the conclusion of mining at Phase 7 and other potential opportunities at adjacent La Coipa deposits.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The <B>Fort Knox Gilmore</B> project continues
to progress on schedule and on budget, with initial Gilmore ore encountered in Q4 2019 and stacked on the existing Walter Creek
heap leach pad. Stripping advanced as planned during the quarter and is expected to continue throughout 2020. Completion of the
new Barnes Creek heap leach pad, where 95% of Gilmore ore is expected to be stacked, and related pumping and piping infrastructure,
remains on target for completion in Q4 2020. Procurement for all planned 2020 activities is largely complete and the project is
ready to recommence construction activities in the spring.</P>

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

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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"></P>


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

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

<FONT STYLE="color: gray"><B>p. 4</B></FONT><B> <FONT STYLE="color: #c59b5f">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>





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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
                                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: gray">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"></P>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Paracatu asset optimization program
that commenced in 2018 was completed in late 2019 with the successful implementation of a comprehensive grade control program.
The results of the program include better characterization of the orebody, an improved ability to predict and react to ore variability,
and improvements in throughput and recovery. In addition, as a result of a focus on continuous improvement programs, the site is
benefiting from improved mining and processing costs and increased overall productivity. Lastly, site water management activities,
the addition of renewable power sources with the acquisition of two hydroelectric power plants in 2018, and the continued successful
tailings reprocessing project, have further contributed to improved site performance. A newly updated resource model has resulted
in the addition of approximately 828 Au koz. to estimated mineral reserves, more than offsetting 2019 depletion of 705 Au koz.
Measured and indicated resources also increased by approximately 1.1 million Au oz., or 35%, compared with 2018.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company intends to file a new Paracatu
Technical Report in March 2020 that incorporates the above mentioned new information.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 75%; border-collapse: collapse; margin-right: 1pt">
<TR STYLE="background-color: black">
    <TD COLSPAN="5" STYLE="border: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Paracatu Mineral Reserve and Mineral Resource estimates<SUP>3</SUP></B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; width: 29%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; width: 16%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2018</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Au koz)</I></P></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; width: 17%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Depletion</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Au koz)</I></P></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; width: 19%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Engineering</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Au koz)</I></P></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; width: 19%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2019* </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Au koz)</I></P></TD></TR>
<TR>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>Proven and Probable Reserves</B></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">7,938</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(705)</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">828</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">8,060</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>Measured and Indicated Resources</B></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">3,013 </FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">0 </FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">1,061</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">4,073</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>Inferred Resources</B></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">350</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">0 </FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">18</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">368</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>* Totals may not fully add up due to rounding</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>2019 Mineral Reserves and Mineral Resources
update</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>(See also the Company&#8217;s detailed
Annual Mineral Reserve and Mineral Resource Statement estimated as at December 31, 2019 and explanatory notes starting at page
19.)</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In preparing the Company&#8217;s 2019 year-end
mineral reserve and mineral resource estimates as of December 31, 2019, Kinross has maintained its conservative gold price assumptions
of $1,200 per ounce for mineral reserves and $1,400 per ounce for mineral resources. Kinross continued to focus on estimated higher
margin, lower cost ounces, and maintained its fully-loaded costing methodology.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #C59B5F"><B>Proven and Probable
Mineral Reserves<SUP>3</SUP></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kinross&#8217; total proven and probable
gold reserve estimate was 24.3 million Au oz. at year-end 2019 compared with 25.5 million Au oz. at year-end 2018. The net year-over-year
decrease was mainly due to depletion and was largely offset by additions at Paracatu, Kupol and Chirano.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At Paracatu, approximately 828 Au koz.
was added to estimated mineral reserves and more than offset depletion of 705 Au koz. The reserve addition was primarily as a result
of an enhanced understanding of the orebody and engineering changes to the mine plan, as drilling data from the past two years
was incorporated into the resource model.</P>

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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: gray"><B>p. 5</B></FONT><B>
<FONT STYLE="color: #c59b5f">Kinross provides update on development projects and full-year 2019 exploration results</FONT></B></P>





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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
                                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: gray">&nbsp;</P>




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</TD>
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</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 327 Au koz. mineral reserve addition
at Kupol largely offset depletion of 344 Au koz. and added one year of mine life to 2024. At Chirano, the 320 Au koz. mineral reserve
addition from exploration more than offset depletion of 207 Au koz. and added one year of mine life to 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #C59B5F"><B>Measured and Indicated
Mineral Resources<SUP>3</SUP></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kinross&#8217; total estimated measured
and indicated mineral resources at year-end 2019 increased by 7.7 million Au oz., or 28%, to 35.5 million Au oz. compared with
27.8 million Au oz. at year-end 2018. The increase was mainly due to the acquisition of the high-quality Chulbatkan deposit in
Russia, which added 3.9 million Au oz. in estimated indicated resources. Exploration and engineering changes also added to estimated
measured and indicated mineral resources and include net additions of:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.2 million Au oz. at Lobo-Marte </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.1 million Au oz. at Paracatu</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">568 Au koz. at Bald Mountain </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">553 Au koz. at Round Mountain </FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #C59B5F"><B>Inferred Mineral Resources<SUP>3</SUP></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kinross&#8217; total estimated inferred
gold resources at year-end 2019 were approximately 5.9 million Au oz., compared with 6.5 million ounces at year-end 2018. The net
decrease was primarily a result of a conversion of estimated inferred ounces to indicated resources at Round Mountain, partially
offset by exploration additions at Chirano and gains at Lobo-Marte due to engineering changes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 COLSPAN="7" STYLE="padding: 3pt 5.4pt; white-space: nowrap; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Kinross Gold Mineral Reserve and Mineral Resource estimates<SUP>3</SUP></B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; width: 22%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; width: 11%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2018</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Au koz)</I></P></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Acquisitions </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Au koz)</I></P></TD>
    <TD STYLE="padding: 3pt 5.4pt; width: 14%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Depletion</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Au koz)</I></P></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Exploration</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Au koz)</I></P></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Engineering</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Au koz)</I></P></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; width: 14%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2019* </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><I>(Au koz)</I></P></TD></TR>
<TR>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>Proven and Probable Reserves</B></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>25,521</B></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">0</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(2,511)</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">658</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">661</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>24,327</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>Measured and Indicated Resources</B></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>27,781</B></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">3,908</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(152)</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">2,709</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">1,265</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>35,508</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>Inferred Resources</B></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>6,540</B></FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">79</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(67)</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(488)</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(199)</FONT></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #D9D9D9; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>5,866</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>*Totals may not fully add up due to
rounding.</I></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#8217;s exploration efforts
continued to focus within the footprint of existing mines during 2019. A total of more than 280,000 metres of drilling was completed,
of which more than 50% was drilled in Russia. Exploration success in 2019 has resulted in one-year mine life extensions at Kupol
to 2024 and Chirano to 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Exploration efforts added approximately
658 Au koz. in estimated mineral reserves, before depletion, in 2019, and 2,709 Au koz. in measured and indicated mineral resources.
Most of the mineral reserve additions were at Kupol and Chirano, while the mineral resource additions were at Bald Mountain, Fort
Knox, Round Mountain, Kettle River, Chirano and Kupol. 2019 exploration highlights include:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Kupol-Dvoinoye</B>: A total of 327
Au koz. was added to estimated mineral reserves to largely offset depletion and 122 Au koz. from exploration was added to estimated
measured and indicated resources at Kupol, as drilling that tested the depth and north extensions of the Kupol main vein system
yielded strong results. Drill intercepts continue to confirm high-grade narrow-vein mineralization extending northwards and at
depths below the Kupol mine workings. As a result of continued exploration success at Kupol and engineering optimization work at
Dvoinoye, scheduled mill production at Kupol has been extended by another one year to 2024. During 2019, extensive regional exploration
work within the large land package around Kupol and Dvoinoye identified targets for drill testing for 2020.</FONT></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 6</B></FONT><B> <FONT STYLE="color: #c59b5f">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>





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<TD STYLE="width: 50%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P>
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</TD>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Chirano:</B> Drilling continued to
confirm the depth extensions at Akwaaba, Paboase and Tano. The high-grade portions of Obra beneath the mined out pit was extended,
allowing for testing for underground mineability. Engineering studies at Suraw identified portions of the orebody for potential
underground mining. During 2019, a total of 320 Au koz. was added to estimated mineral reserves, 159 Au koz. to measured and indicated
resources and 118 Au koz. to inferred resources. The additions to mineral reserves increased mine life to 2022 and the Company
continues to focus on upgrading mineral resources to mineral reserves to further extend mine life.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Bald Mountain:</B> A total of 568 Au
koz. was added to measured and indicated resources, primarily from the Top, Winrock and Redbird drilling programs. During 2019,
a number of targets were tested of which three produced solid intercepts, including structurally controlled mineralization with
intercepts up to 30.5 metres @ 1.18 g/t Au at 256 metres depth at the ZZ Top target. </FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For 2020, the brownfields exploration program
will follow up on the mineralized targets identified in 2019 with infill drilling and geologic modelling, with the goal of converting
the mineralization to estimated measured, indicated and inferred mineral resources.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Kupol-Dvoinoye:</B> Kinross expects
to spend up to $22 million in 2020, with a focus on upgrading mineral resources to reserves and exploring targets within the &#8220;Kupol
Synergy Zone of Influence.&#8221; The Kupol Synergy Zone of Influence project (KSP) is targeting exploration in an area that covers
a radius of approximately 130 km around the Kupol plant that would potentially be economic to mine given the close proximity to
the existing mill. These targets are expected to be tested to delineate mineralized geometry and to better understand mineralization.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Chirano</B>: The Company is increasing
exploration spending at Chirano to $10 million in 2020, compared with $8 million in 2019, to drill depth extensions at Akwaaba,
Suraw and Tano. The program also includes the continued exploration of the high-grade extensions at the Obra pit, with the goal
of establishing underground mining. The north extensions of Mamnao are being explored with the goal of extending the open pit mine
life, which was re-started in 2019.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Bald Mountain:</B> Kinross expects
to spend $7 million at Bald Mountain in 2020. The focus at Bald is shifting from the near-mine infill drilling program to drill
testing the generative targets that were identified in 2019. The aim is to explore for both intrusive-related and sediment-hosted
type deposits that can deliver near-surface higher grade and/or large tonnage mineral resources similar to the size and grade of
the Top or Vantage deposits.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Round Mountain:</B> A large portion
of the $6 million exploration budget allocated for Round Mountain in 2020 will focus on drilling the Phase X deposit, targeting
high grade mineralization along the northwest trend. The trend is interpreted as a continuation of Phase W mineralization. Exploration
will also continue in the South Caldera Rim area for low-grade bulk tonnage volcanic hosted mineralization.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Fort Knox:</B> Kinross will continue
to explore the western extension of Gilmore in 2020 with the aim of adding to estimated mineral resources. The East Wall, and brownfield
targets around the Fort Knox site, including Gil-Sourdough and the Fairbanks district targets, will also be explored and tested
in 2020.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A more detailed summary of the 2019 highlights
is presented below. Additional details may be found in the Appendices.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#8220;Appendix A&#8221; provides illustrations
and captions, and &#8220;Appendix B&#8221; provides drilling results and drill hole location data corresponding to the values below.</P>

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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 7</B></FONT><B> <FONT STYLE="color: #c59b5f">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>





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

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<TD STYLE="width: 50%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt; color: #C59B5F"><B>Kinross Gold Corporation</B></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">25 York Street, 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Toronto, ON Canada M5J 2V5</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Appendix A: <U>https://www.kinross.com/files/doc_downloads/2020/02/Appendix-A-Q4-YE-Exploration-Figures.pdf</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Appendix B: <U>https://www.kinross.com/files/doc_downloads/2020/02/Appendix-B-Q4-YE-Exploration-Drill-Results.xlsx</U></B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Exploration during 2019 at Kupol successfully
added 327 Au koz. and 4.1 Ag Moz. to estimated mineral reserves to largely offset depletion, and 122 Au koz. and 1.5 Ag Moz. to
measured and indicated mineral resources. The reserve additions were mainly from the NE Extension and North Extension where higher
grades and wider thickness were encountered following sublevel development. With the additional mineral reserves, Kupol has replaced
a full year of depletion thereby extending the mine life one year to 2024. See Appendix A (Figure 2) for a long section of Kupol.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A total of approximately 90,100 metres
was drilled at Kupol, of which approximately 50% was to test the NE Extension, Big Bend deeps and hanging wall mineralization.
The drilling at the Southeast Extensions also increased mineral resources. Drilling at the Kupol Deeps and hanging wall identified
additional inferred mineral resources that will be drilled in 2020 with the goal of converting to estimated measured and indicated
mineral resources or reserves. Drilling at Moroshka added to mineral reserves from the north and bottom south of the deposit. Sublevel
development also encountered higher than expected grades from grade control drill holes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the early part of 2019, work in
the Kupol East Wedge area was discontinued due to lower grade results. Further work at Star North indicates a promising target,
and will be explored further in 2020.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">One of the main exploration objectives
within the Kupol main vein deposit is to extend mine life to potentially bridge the gap in production between Kupol and the Chulbatkan
project. The exploration group embarked on an extensive regional exploration program called the KSP, which is targeting the 130
km radius around the Kupol mill. Grassroots exploration has commenced in some of the identified target areas within the KSP and
is planned to continue through 2020 to identify key areas that will be drilled.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Kupol Mining Licence and Kupol West
Property significant down-hole drill intercepts</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 65%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-right: 1.5pt">
<TR STYLE="background-color: black">
    <TD STYLE="padding-bottom: 6pt; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Hole ID</B></FONT></TD>
    <TD STYLE="padding-bottom: 6pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>From</B></FONT></TD>
    <TD STYLE="padding-bottom: 6pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 11%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>To</B></FONT></TD>
    <TD STYLE="padding-bottom: 6pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 15%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Interval</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(m)</P></TD>
    <TD STYLE="padding-bottom: 6pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 15%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Au</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(g/t)</P></TD>
    <TD STYLE="padding-bottom: 6pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 15%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Ag </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(g/t)</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KP19-1572</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">503.9</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">506.5</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">2.6</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">37.9</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">305.7</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KW19-503</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">349.4</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">359.4</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">10.0</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">7.0</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">45.9</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KW19-491</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">461.2</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">465.2</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">4.0</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">5.5</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">72.3</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KW19-519</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">247.6</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">250.7</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">3.1</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">6.6</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">81.8</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KP19-1560</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">373.3</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">375.4</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">2.1</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">7.5</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">47.2</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KW19-519</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">195.4</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">198.0</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">2.6</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">5.3</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">96.2</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KP19-1598</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">29.1</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">37.3</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">8.2</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">1.5</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">56.1</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At Dvoinoye, a total of approximately 72,000
metres of drilling was completed during 2019. Most of the drilling was carried out at Zone 37 West, Mine Dacite and the Pauk-September
South trend. Results from the Mine Dacite area and the Pauk-September trend were encouraging, and further drilling is expected
to continue in 2020.</P>

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



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

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

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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>


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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 8</B></FONT><B> <FONT STYLE="color: #c59b5f">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>





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

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

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

<!-- Field: Split-Segment; Name: 2 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; color: #C59B5F; vertical-align: middle; width: 49%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: top; width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Dvoinoye significant down-hole drill
intercepts</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD COLSPAN="2" STYLE="border: black 1pt solid; padding: 4pt 5.4pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Hole ID</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding: 4pt 5.4pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>From</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding: 4pt 5.4pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>To</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding: 4pt 5.4pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: white"><B>Interval</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: white">(m)</P></TD>
    <TD STYLE="border-top: black 1pt solid; padding: 4pt 5.4pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>True<BR>
Width </B>(m)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding: 4pt 5.4pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: white"><B>Au</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: white">(g/t)</P></TD>
    <TD STYLE="border-top: black 1pt solid; padding: 4pt 5.4pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: white"><B>Ag </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: white">(g/t)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: white">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; border-right: Black 1pt solid; 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; color: black">VO19-024</FONT></TD>
    <TD COLSPAN="2" 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; color: black">315.1</FONT></TD>
    <TD COLSPAN="2" 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; color: black">318.9</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; color: black">3.8</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; color: black">2.0</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">22.7</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">309.6</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; border-right: black 1pt solid; 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; color: black">SP19-010</FONT></TD>
    <TD COLSPAN="2" 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; color: black">37.2</FONT></TD>
    <TD COLSPAN="2" 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; color: black">37.5</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; color: black">0.3</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; color: black">0.3</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">119.5</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">1611.6</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; border-right: black 1pt solid; 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; color: black">VO19-037</FONT></TD>
    <TD COLSPAN="2" 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; color: black">340.4</FONT></TD>
    <TD COLSPAN="2" 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; color: black">342.6</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; color: black">2.2</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; color: black">1.0</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">29.4</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">64.0</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; border-right: black 1pt solid; 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; color: black">PK19-015</FONT></TD>
    <TD COLSPAN="2" 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; color: black">271.9</FONT></TD>
    <TD COLSPAN="2" 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; color: black">287.5</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; color: black">15.6</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; color: black">15.6</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">1.5</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">1.1</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; border-right: black 1pt solid; 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; color: black">VO19-026</FONT></TD>
    <TD COLSPAN="2" 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; color: black">355.0</FONT></TD>
    <TD COLSPAN="2" 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; color: black">364.0</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; color: black">9.0</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; color: black">4.5</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">4.2</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">20.6</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; border-right: Black 1pt solid; 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; color: black">VO19-028</FONT></TD>
    <TD COLSPAN="2" 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; color: black">350.2</FONT></TD>
    <TD COLSPAN="2" 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; color: black">352.8</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; color: black">2.6</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; color: black">1.3</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">14.4</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">47.4</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; border-right: black 1pt solid; 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; color: black">VO19-022</FONT></TD>
    <TD COLSPAN="2" 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; color: black">343.4</FONT></TD>
    <TD COLSPAN="2" 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; color: black">350.6</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; color: black">7.2</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; color: black">3.5</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">4.9</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">7.9</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; border-right: black 1pt solid; 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; color: black">VO19-056</FONT></TD>
    <TD COLSPAN="2" 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; color: black">306.4</FONT></TD>
    <TD COLSPAN="2" 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; color: black">307.3</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; color: black">0.9</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; color: black">0.9</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">17.7</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">15.3</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; border-right: black 1pt solid; 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; color: black">VO19-034</FONT></TD>
    <TD COLSPAN="2" 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; color: black">327.9</FONT></TD>
    <TD COLSPAN="2" 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; color: black">331.5</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; color: black">3.6</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; color: black">1.5</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">7.9</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">48.6</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; border-right: black 1pt solid; 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; color: black">VO19-034</FONT></TD>
    <TD COLSPAN="2" 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; color: black">357.9</FONT></TD>
    <TD COLSPAN="2" 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; color: black">358.5</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; color: black">0.6</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; color: black">0.3</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">33.1</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">36.7</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; padding-left: 5.4pt; width: 24%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 12%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 13%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 13%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 13%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kinross is expected to spend approximately
$22 million in Russia exploration in 2020. For full drill results and explanatory notes, see Appendix B.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD COLSPAN="5" STYLE="padding: 2pt 5.4pt; border: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Kupol Mineral Reserve and Mineral Resource estimates<SUP>3 </SUP>&#8211; Gold</B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 5.4pt; white-space: nowrap; width: 30%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 5.4pt; white-space: nowrap; width: 16%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2018</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 5.4pt; white-space: nowrap; width: 17%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Depletion</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 5.4pt; white-space: nowrap; width: 19%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Exploration &amp; Engineering</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 2pt 5.4pt; white-space: nowrap; width: 18%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2019* </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proven and Probable Reserves</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,370 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(344)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">327</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,353 </FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Measured and Indicated Resources</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">354</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(9)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">151</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">496</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inferred Resources</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">458 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(3)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 3pt 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">489 </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>*Totals may not fully add up due to rounding.</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD COLSPAN="5" STYLE="padding: 2pt 5.4pt; white-space: nowrap; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Kupol Mineral Reserve and Mineral Resource estimates<SUP>3 </SUP>&#8211; Silver</B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 2pt 5.4pt; white-space: nowrap; width: 30%">&nbsp;</TD>
    <TD STYLE="padding: 2pt 5.4pt; white-space: nowrap; width: 16%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2018</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(<I>Ag</I> koz)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Depletion</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(<I>Ag</I> koz)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Exploration &amp; Engineering</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(<I>Ag</I> koz)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2019* </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(<I>Ag</I> koz)</P></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proven and Probable Reserves</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,102 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(3,353)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,089</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,838 </FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Measured and Indicated Resources</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,923</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(108)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,845</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,661</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inferred Resources</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,770 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(53)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">898</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,615 </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>*Totals may not fully add up due to rounding.</I></P>

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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 9 </B></FONT><B><FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; color: #C59B5F; vertical-align: middle; width: 49%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: top; width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2019, exploration activities continued
to demonstrate the strong potential of the known lode horizon and other promising west splay structures, and enhanced the prospectivity
of the under-explored Bibiani style of mineralization to the north and east. The additions to mineral reserves at Chirano in 2019
increased mine life to 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Approximately 34,000 metres were drilled
at Paboase, Akwaaba, Tano, Obra and Mamnao North in 2019. A total of 320 Au koz. were added to mineral reserves, with a large portion
of the addition obtained from Akwaaba. The other areas that added to mineral reserves were Paboase, Akoti, Suraw and Tano. See
Appendix A for long section of Chirano (Figure 3), and illustrations of Akwaaba and Obra pits (Figures 4 and 5).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, 159 Au koz. were added to
measured and indicated resources and 118 Au koz. to inferred resources. These ounces were added mostly from Obra, where drilling
under the mined-out pit in 2019 returned high grade zones with good widths. The Company will continue to explore this area in 2020,
both along strike and down dip.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD COLSPAN="5" STYLE="white-space: nowrap; border: 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>Chirano&nbsp;&nbsp;Mineral Reserve and Mineral Resource estimates<SUP>3</SUP></B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; width: 30%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; width: 16%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2018</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Depletion</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Exploration &amp; Engineering</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2019* </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD></TR>
<TR>
    <TD STYLE="padding: 3pt 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>Proven and Probable Reserves</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">415</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(207)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">320</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">528</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>Measured and Indicated Resources</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">765 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">0 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">159</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">924</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>Inferred Resources</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">325</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">0 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">118</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 5.4pt; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">443</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: blue"><I><SUP>* </SUP></I></FONT><I>Totals
may not fully add up due to rounding</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Drilling continued at Mamnao North on the
main mineralized lode trending north and to the west of the main lode. A moderate width higher-grade western splay shoot intersected
one of the holes returning 24.8 metres @ 1.63 g/t Au, (True width), including 13.9 metres @ 2.15g/t Au. This structure bends westward
and coincides with local networks of shears, which dilates and pinches. Due to these results, drill testing over a strike length
of 250 metres is planned for 2020. For full drill results and explanatory notes, see Appendix B.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2020 exploration budget at Chirano
was increased to $10.0 million to explore the potential to further extend mine life.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Chirano <I>significant down-hole drill
intercepts</I></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD STYLE="padding-bottom: 3pt; border: black 1pt solid; padding-top: 3pt; text-align: center; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Hole ID</B></FONT></TD>
    <TD STYLE="padding-bottom: 3pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; text-align: center; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>From</B></FONT></TD>
    <TD STYLE="padding-bottom: 3pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; text-align: center; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>To</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; width: 15%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Interval</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(m)</P></TD>
    <TD STYLE="padding-bottom: 3pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; text-align: center; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>True Width </B>(m)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; width: 15%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Au</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(g/t)</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">CHDD2712UG</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">198.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">231.7</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">33.7</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">25.4</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">3.5</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><I>including</I></FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">198</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">206</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">8.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">6.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">5.7</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">CHDD2713UG</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">221</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">237.95</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">16.95</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">11.8</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">7.1</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">CHDD2793UG</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">278.9</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">312.3</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">33.4</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">23.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">3.5</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><I>including</I></FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">295.8</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">306.15</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">10.35</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">7.12</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">6.8</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">CHRC2751D</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">598.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">648.7</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">50.7</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">36.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">5.4</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><I>including</I></FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">631.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">642.4</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">11.4</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">8.1</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">8.8</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">CHRC2759D</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">543.4</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">602.9</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">59.5</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">51.5</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">1.6</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><I>including</I></FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">598.5</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">602.85</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">4.4</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">3.8</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">4.3</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">CHRC2773D</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">491.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">539.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">48.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">45.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">1.8</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">CHDD2705UG</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">208.7</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">235.4</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">26.7</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">18.3</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">4.7</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><I>including</I></FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">222.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">234.3</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">12.3</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">8.4</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">9.1</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">CHDD2724UG</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">197.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">217.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">20.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">15.5</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">6.6</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><I>including</I></FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">198.0</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">208.5</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">10.5</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">8.1</FONT></TD>
    <TD 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">9.1</FONT></TD></TR>
</TABLE>


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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 10 </B></FONT><B><FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; color: #C59B5F; vertical-align: middle; width: 49%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: top; width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Exploration at Bald Mountain focused on
two primary initiatives in 2019: generative exploration work and near-mine resource additions. A total of approximately 50,000
metres was drilled in 2019. Near-mine exploration target areas included the Redbird, Top, Winrock, Duke, Galaxy and Gator resource
areas through which a total of 568 Au koz. was added to estimated mineral resources. See Appendix A for map of Bald Mountain (Figure
6).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2019 there was an increased focus
on generative exploration for which a total of 13 target areas were tested and significant field work was completed on 11 additional
pipeline targets. Three of the drill target areas produced encouraging intercepts. The ZZ Top target continued to define structural
controlled mineralization with intercepts up to 30.5 metres @ 1.18 g/t Au at 256 metres depth. This target is deep and mineralization
is constrained to a small structural volume. A target north of the Galaxy resource provided the most encouraging results, with
mineralization up to 59.4 metres @ 1.08 g/t Au and 13.7 metres @ 1.17 g/t Au along an open trend. This is a northeast steep structure
controlling mineralized dike and breccia. For full drill results and explanatory notes, see Appendix B.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Bald Mountain significant down-hole
drill intercepts</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD STYLE="border: black 1pt solid; padding-top: 2pt; 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>Hole ID</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; 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>From</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; 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>To</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 2pt 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Interval</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(m)</P></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 2pt 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Au</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(g/t)</P></TD></TR>
<TR>
    <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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WRD19-018</FONT></TD>
    <TD STYLE="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">157.6</FONT></TD>
    <TD STYLE="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">167.2</FONT></TD>
    <TD STYLE="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">9.7</FONT></TD>
    <TD STYLE="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">15.8</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; 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">WP19-026</FONT></TD>
    <TD STYLE="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">102.1</FONT></TD>
    <TD STYLE="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">161.5</FONT></TD>
    <TD STYLE="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">59.4</FONT></TD>
    <TD STYLE="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">1.1</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; 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">WR19-013</FONT></TD>
    <TD STYLE="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">150.9</FONT></TD>
    <TD STYLE="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">163.1</FONT></TD>
    <TD STYLE="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">12.2</FONT></TD>
    <TD STYLE="vertical-align: top; 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">2.6</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; 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">WR19-014</FONT></TD>
    <TD STYLE="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">149.4</FONT></TD>
    <TD STYLE="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">160.0</FONT></TD>
    <TD STYLE="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">10.7</FONT></TD>
    <TD STYLE="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">3.4</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; 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">WR19-014</FONT></TD>
    <TD STYLE="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">164.6</FONT></TD>
    <TD STYLE="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">184.4</FONT></TD>
    <TD STYLE="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">19.8</FONT></TD>
    <TD STYLE="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">1.8</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; 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">RBD19-018</FONT></TD>
    <TD STYLE="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">100.3</FONT></TD>
    <TD STYLE="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">121.6</FONT></TD>
    <TD STYLE="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">21.3</FONT></TD>
    <TD STYLE="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">2.3</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; 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">RBD19-017</FONT></TD>
    <TD STYLE="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">114.0</FONT></TD>
    <TD STYLE="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">153.6</FONT></TD>
    <TD STYLE="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">39.6</FONT></TD>
    <TD STYLE="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">0.7</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; 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; color: black">ZZ19-006</FONT></TD>
    <TD STYLE="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: black">117.3</FONT></TD>
    <TD STYLE="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: black">143.3</FONT></TD>
    <TD STYLE="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: black">25.9</FONT></TD>
    <TD STYLE="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: black">0.9</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; 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"><I>Including</I></FONT></TD>
    <TD STYLE="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: black">121.9</FONT></TD>
    <TD STYLE="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: black">123.4</FONT></TD>
    <TD STYLE="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: black">1.5</FONT></TD>
    <TD STYLE="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: black">3.0</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; 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"><I>Including</I></FONT></TD>
    <TD STYLE="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: black">131.1</FONT></TD>
    <TD STYLE="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: black">135.6</FONT></TD>
    <TD STYLE="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: black">4.6</FONT></TD>
    <TD STYLE="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: black">1.6</FONT></TD></TR>
</TABLE>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="color: White; background-color: black">
    <TD COLSPAN="5" STYLE="padding: 2pt 5.4pt; color: White; white-space: nowrap; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Bald Mountain Mineral Reserve and Mineral Resource estimates<FONT STYLE="color: white"><SUP>3</SUP></FONT></B></FONT></TD></TR>
<TR STYLE="color: White; background-color: black">
    <TD STYLE="padding: 2pt 5.4pt; color: White; white-space: nowrap; width: 30%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt 5.4pt; color: White; white-space: nowrap; width: 16%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2018</B></P>
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Au koz)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; color: White; white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Depletion</B></P>
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Au koz)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; color: White; white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exploration &amp; Engineering</B></P>
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Au koz)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; color: White; white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2019* </B></P>
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Au koz)</P></TD></TR>
<TR>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proven and Probable Reserves</B></FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,347</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(173)</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">102</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,277 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Measured and Indicated Resources</B></FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,294</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0 </FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">568</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,862</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inferred Resources</B></FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">845</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0 </FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(37)</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">808</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>*Totals may not fully add up due to rounding.</I></P>

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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 11 </B></FONT><B><FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; color: #C59B5F; vertical-align: middle; width: 49%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: top; width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Exploration continued to focus on mineralization
extensions of the Fort Knox ore body. A total of 7,300 metres of drilling was completed during 2019, mainly focusing on the western
crest of the pit. The results were encouraging and resulted in the addition of 229 Au koz. in measured and indicated resources.
During 2019, a ground gravity survey was completed from Fort Knox to Gil-Sourdough to understand the geological settings of the
area for future exploration work. Kinross plans to continue to conduct exploration and resource conversion drilling at Fort Knox,
Gil-Sourdough, and the Fairbanks District in 2020. For full drill results and explanatory notes, see Appendix B.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Fort Knox significant down-hole drill
intercepts</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD COLSPAN="2" STYLE="border: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Hole ID</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; padding-top: 2pt; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-bottom: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>From</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-top: 2pt; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-bottom: 2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>To</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; padding-top: 2pt; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-bottom: 2pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Interval</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(m)</P></TD>
    <TD STYLE="border-top: black 1pt solid; padding-top: 2pt; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-bottom: 2pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Au</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(g/t)</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; border-right: Black 1pt solid; 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; color: black">FFC19-1792</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">264.1</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">281.9</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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; color: black">17.8</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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">2.2</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; border-right: Black 1pt solid; 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; color: black">FFC19-1786</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">291.1</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">297.2</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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">6.1</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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">5.6</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; border-right: Black 1pt solid; 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; color: black">FFC19-1787</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">399.3</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">403.9</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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; color: black">4.6</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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">6.3</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; border-right: Black 1pt solid; 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; color: black">FFC19-1785</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">268.2</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">269.7</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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">1.5</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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">11.5</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; border-right: Black 1pt solid; 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; color: black">FFC19-1786</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">304.8</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">312.4</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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">7.6</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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">2.0</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; border-right: Black 1pt solid; 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; color: black">FFC19-1788</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">411.5</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">420.6</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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; color: black">9.1</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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">1.4</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; border-right: Black 1pt solid; 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; color: black">FFC19-1789</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">149.4</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">152.4</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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; color: black">3</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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">4.1</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; border-right: Black 1pt solid; 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; color: black">FFC19-1789</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">242.3</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 3pt; 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; color: black">246.9</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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; color: black">4.6</FONT></TD>
    <TD STYLE="padding-top: 3pt; 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">2.7</FONT></TD></TR>
<TR>
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="color: White; background-color: black">
    <TD COLSPAN="5" STYLE="padding: 2pt 5.4pt; border: Black 1pt solid; color: White; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Fort Knox Mineral Reserve and Mineral Resource estimates<FONT STYLE="color: white"><SUP>3</SUP></FONT></B></FONT></TD></TR>
<TR STYLE="color: White; background-color: black">
    <TD STYLE="padding: 2pt 5.4pt; color: White; white-space: nowrap; width: 30%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt 5.4pt; color: White; white-space: nowrap; width: 16%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2018</B></P>
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Au koz)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; color: White; white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Depletion</B></P>
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Au koz)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; color: White; white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exploration &amp; Engineering</B></P>
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Au koz)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; color: White; white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2019* </B></P>
        <P STYLE="color: White; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Au koz)</P></TD></TR>
<TR>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proven and Probable Reserves</B></FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,036</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(258)</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,801 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Measured and Indicated Resources</B></FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,797 </FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">229</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,026 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inferred Resources</B></FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">808</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(46)</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">774 </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>*Totals may not fully add up due to rounding.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Curlew Basin Project (Kettle River)</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2018, drilling at the Curlew Basin
Project was re-focused to targets within and around the Curlew district and Kettle area due to increased mine rehabilitation requirements
in the Curlew Basin. The 2019 program, therefore, focused on the Curlew district and generative targets. A total of 7,800 metres
of drilling was completed during 2019 and the holes within Curlew generally had gold grades above 3 g/t Au in significant veining
or brecciation. The Company is investigating underground drilling to further explore the targets to capture and model the high-grade
vein sets in the deposit. In 2019, 162 Au koz. was added to estimated measured and indicated resources. For full drill results
and explanatory notes, see Appendix B.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Curlew Basin Project significant down-hole
drill intercepts</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD STYLE="padding: 2pt 5.4pt; border: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Hole ID</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 2pt 5.4pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>From</B></FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>To</B></FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Interval</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(m)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>True Width </B>(m)</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Au</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(g/t)</P></TD></TR>
<TR>
    <TD STYLE="padding: 1pt 5.4pt; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1036</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">561.4</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">566.3</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.9</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.6</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.5</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 1pt 5.4pt; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1042</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.4</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.6</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.0</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 1pt 5.4pt; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1042</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.8</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">103.8</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.0</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.6</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.3</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 1pt 5.4pt; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>including</I></FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.8</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">102.5</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.7</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.6</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 1pt 5.4pt; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1046</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">163.4</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">167.1</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.7</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.6</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.8</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 1pt 5.4pt; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>including</I></FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">165.5</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">166.0</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.5</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.4</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27.4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RP1902</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">233.4</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">238.6</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>including</I></FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">236.1</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">238.0</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.9</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.6</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43.4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RP1902</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">248.3</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">250.7</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.5</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>including</I></FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">249.4</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">250.7</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.8</FONT></TD>
    <TD STYLE="padding: 1pt 5.4pt; border-right: Black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26.7</FONT></TD></TR>
<TR>
    <TD STYLE="width: 27%">&nbsp;</TD>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: white">&nbsp;</P>

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 12 </B></FONT><B><FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: white"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; color: #C59B5F; vertical-align: middle; width: 49%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: top; width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD COLSPAN="5" STYLE="padding: 2pt 5.4pt; white-space: nowrap; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Kettle River Mineral Reserve and Mineral Resource estimates<SUP>3</SUP></B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1pt 5.4pt; white-space: nowrap; width: 30%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2pt 5.4pt; white-space: nowrap; width: 16%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2018</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2pt 5.4pt; white-space: nowrap; width: 17%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Depletion</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2pt 5.4pt; white-space: nowrap; width: 19%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Exploration &amp; Engineering</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 2pt 5.4pt; white-space: nowrap; width: 18%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2019* </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1pt 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proven and Probable Reserves</B></FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0 </FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0 </FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">0</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0 </FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1pt 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Measured and Indicated Resources</B></FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0 </FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0 </FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">162</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">162 </FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1pt 5.4pt; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inferred Resources</B></FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0 </FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0 </FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">86</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">85 </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>*Totals may not fully add up due to rounding.</I></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Round Mountain completed a total of 14,000
metres of drilling at Phase S (south pit layback), Phase X (northwest continuation of Phase W mineralization) and within the South
Caldera Rim. The conversion of 565 Au koz. of inferred mineral resources to measured and indicated resources was the result of
the 2019 drilling program at Phase S, in the southeast part of the Round Mountain pit. Exploration is expected to continue to explore
the extensions in Phase X in 2020 and for a Round Mountain-type mineralization within the South Caldera Rim. For full drill results
and explanatory notes, see Appendix B.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Round Mountain <I>significant down-hole
drill intercepts</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD STYLE="padding: 2pt 5.4pt; border: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Hole ID</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 2pt 5.4pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>From</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 2pt 5.4pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>To</B></FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Interval</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(m)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Au</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(g/t)</P></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-left: 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">D-1045</FONT></TD>
    <TD COLSPAN="2" 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">207.3</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">208.8</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">1.5</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">245.0</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-right: black 1pt solid; border-left: 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">D-1029</FONT></TD>
    <TD COLSPAN="2" 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">175.3</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">219.5</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">44.2</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">8.4</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-right: black 1pt solid; border-left: 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">EH-11030</FONT></TD>
    <TD COLSPAN="2" 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">157.0</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">221.0</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">64.0</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">2.1</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-right: black 1pt solid; border-left: 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">EH-11031</FONT></TD>
    <TD COLSPAN="2" 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">153.9</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">208.8</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">54.9</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">2.4</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-right: black 1pt solid; border-left: 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">EH-11030</FONT></TD>
    <TD COLSPAN="2" 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">175.3</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">193.5</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">18.3</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">4.5</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-left: 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">D-1046</FONT></TD>
    <TD COLSPAN="2" 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">679.7</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">731.5</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">51.8</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">1.4</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-left: 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"><I>including</I></FONT></TD>
    <TD COLSPAN="2" 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">679.7</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">681.2</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">1.5</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">16.5</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-left: 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"><I>including</I></FONT></TD>
    <TD COLSPAN="2" 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">688.8</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">694.9</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">6.1</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">4.0</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-right: black 1pt solid; border-left: 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">D-1028A</FONT></TD>
    <TD COLSPAN="2" 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">193.5</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">248.4</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">54.9</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">1.1</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-right: black 1pt solid; border-left: 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">D-1030</FONT></TD>
    <TD COLSPAN="2" 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">146.3</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">190.5</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">44.2</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">1.23</FONT></TD></TR>
<TR>
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: blue">&nbsp;</P>

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 13 </B></FONT><B><FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


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

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; color: #C59B5F; vertical-align: middle; width: 49%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: top; width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="background-color: black">
    <TD COLSPAN="5" STYLE="padding: 2pt 5.4pt; white-space: nowrap; border: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: white"><B>Round Mountain&nbsp;&nbsp;Mineral Reserve and Mineral Resource estimates<SUP>3</SUP></B></FONT></TD></TR>
<TR STYLE="background-color: black">
    <TD STYLE="padding: 2pt 5.4pt; white-space: nowrap; width: 30%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt 5.4pt; white-space: nowrap; width: 16%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2018</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Depletion</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>Exploration &amp; Engineering</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD>
    <TD STYLE="padding: 2pt 5.4pt; white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white"><B>2019* </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: white">(Au koz)</P></TD></TR>
<TR>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proven and Probable Reserves</B></FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">2,668 </FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(264)</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">17</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">2,421 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Measured and Indicated Resources</B></FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">2,281</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(10)</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">565</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">2,834 </FONT></TD></TR>
<TR>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inferred Resources</B></FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">2,058</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(6)</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">(981)</FONT></TD>
    <TD STYLE="padding: 5.4pt; white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">1,072</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>*Totals may not fully add up due to rounding.</I></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2019, Kinross focused its greenfields
exploration program on targets in Nevada, the Abitibi region in Quebec and Ontario, Manitoba, areas of Eastern Russia, and northern
Finland&#8217;s greenstone belts. The Company drilled approximately 21,100 metres on eight greenfields projects, six of which are
in North America.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Key components of Kinross&#8217; focused
greenfields exploration strategy include pursuing opportunities and high margin deposits through strategic investments and partnerships
with high quality junior exploration companies. Kinross also focuses on fostering relationships with management teams that have
a successful track record of discovery and keeping a solid pipeline of quality targets that demonstrate scope and scale for significant
discovery.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In North America, Kinross explored projects
in both joint venture (JV) and 100%-owned Kinross claims. Kinross and its JV partners undertook geochemical sampling, ground and
airborne geophysical surveys and drilling programs. Indications of mineralization and prospective targets were generated at several
projects, and first and second phase drilling programs were undertaken in 2019. The Company and its JV partners have also identified
new opportunities in Nevada, Ontario, Manitoba, and Finland, and are assessing potential drilling programs at these projects for
2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In Canada, exploration focused on the Van
Horne property in Ontario and the Laguna property in Manitoba, both of which are under joint venture agreements. Kinross is the
operator of both projects and plans to continue exploration work in 2020 after encouraging results in 2019.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the release, Kinross
will hold a conference call and audio webcast on Thursday, February 13, 2020 at 8 a.m. ET to discuss the results, followed by a
question-and-answer session. To access the call, please dial:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Canada &amp; US toll-free</B>&nbsp;&#8211; (877) 201-0168;
Conference ID: 1756358<BR>
<B>Outside of Canada &amp; US</B>&nbsp;&#8211; +1 (647) 788-4901; Conference ID: 1756358</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Replay (available up to 14 days after the call):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Canada &amp; US toll-free</B>&nbsp;&#8211; (800) 585-8367;
Conference ID: 1756358<BR>
<B>Outside of Canada &amp; US</B>&nbsp;&#8211; +1 (416) 621-4642; Conference ID: 1756358</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">You may also access the conference call on a listen-only basis
via webcast at our website <FONT>www.kinross.com</FONT>. The</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">audio webcast will be archived on our website at <FONT>www.kinross.com</FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This release should be read in conjunction
with Kinross&#8217; Q4/2019 year-end results news release, 2019 year-end Financial Statements and Management&#8217;s Discussion
and Analysis report at <U>www.kinross.com</U>. Kinross&#8217; 2019 year-end Financial Statements and Management&#8217;s Discussion
and Analysis have been filed with Canadian securities regulators (available at <U>www.sedar.com</U>) and furnished with the U.S.
Securities and Exchange Commission (available at www.sec.gov). Kinross shareholders may obtain a copy of the financial statements
free of charge upon request to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #0070C0"><B></B>&nbsp;</P>

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 14 </B></FONT><B><FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #0070C0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #0070C0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #0070C0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #0070C0"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; color: #C59B5F; vertical-align: middle; width: 49%"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: #C59B5F; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: top; width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #0070C0"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kinross is a Canadian-based senior gold
mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Our focus is on delivering
value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining.
Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">phone: 416-369-6469&#9;</P>

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

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
























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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tom Elliott&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Senior Vice-President, Investor Relations and Corporate Development
 &#9;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">phone: 416-365-3390&#9;</P>

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

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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 15 </B></FONT><B><FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>&nbsp;</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 49%; font: 10pt Times New Roman, Times, Serif; color: #C59B5F; vertical-align: middle"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: #C59B5F">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; width: 49%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>2019 Annual Mineral Reserve and Resource
Statement </B></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; width: 49%; text-align: left"><FONT STYLE="font-size: 8pt">MINERAL
    RESERVE AND MINERAL RESOURCE STATEMENT</FONT></TD><TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; border-right: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: right; width: 49%"><FONT STYLE="font-size: 8pt">GOLD</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">PROVEN AND PROBABLE
    MINERAL RESERVES&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<SUP>(1,3,4,5,6,8)</SUP></FONT></TD><TD STYLE="padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">Kinross Gold Corporation's Share at
    December 31, 2019</FONT></TD><TD STYLE="padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>




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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="3" COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="text-align: center; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; vertical-align: middle"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B></B>Location</FONT></P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Kinross
    <BR>
Interest</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Proven</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Probable</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; text-align: center; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Proven
    and Probable</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(%)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>NORTH
    AMERICA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Bald
    Mountain</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>63,999</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.6</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,277</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>63,999</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,277</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Fort
    Knox</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>43,982</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>541</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>211,828</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.3</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,260</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>255,810</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.3</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,801</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Round
    Mountain</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>11,101</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>159</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>89,737</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.8</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,262</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100,838</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.7</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,421</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>55,083</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>700</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>365,564</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.5</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5,799</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>420,647</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6,499</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.15pt"><FONT STYLE="font-size: 8pt"><B>SOUTH AMERICA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1pt 3pt; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>La Coipa</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: right; border-bottom: Black 1pt solid; padding: 1pt 3pt; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><SUP>8</SUP></B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chile</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>368</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>14,398</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>763</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>14,766</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>768</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Paracatu</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Brazil</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>549,669</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7,705</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>28,354</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>355</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>578,023</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8,060</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>550,037</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7,710</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>42,752</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.8</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,118</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>592,789</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8,828</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.15pt"><FONT STYLE="font-size: 8pt"><B>AFRICA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chirano</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Ghana</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>90.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,550</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.2</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>58</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5,878</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>470</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7,428</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.2</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>528</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Tasiast</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Mauritania</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>46,561</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.4</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,103</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>69,280</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.1</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,680</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>115,841</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6,783</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>48,111</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.4</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,161</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>75,158</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.1</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5,150</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>123,269</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7,311</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.15pt"><FONT STYLE="font-size: 8pt"><B>RUSSIA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Dvoinoye</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,574</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>252</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>250</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>10.4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>84</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,824</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5.7</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>336</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Kupol</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>772</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8.3</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>207</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,279</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8.3</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,146</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5,051</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8.3</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,353</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,346</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6.1</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>459</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,529</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8.4</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,230</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6,875</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,689</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>TOTAL
    GOLD</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>655,577</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.5</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>11,030</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>488,003</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.8</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>13,297</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,143,580</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.7</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>24,327</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; width: 49%; text-align: left"><FONT STYLE="font-size: 8pt">MINERAL
    RESERVE AND MINERAL RESOURCE STATEMENT</FONT></TD><TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; border-right: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: right; width: 49%"><FONT STYLE="font-size: 8pt">SILVER</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">PROVEN AND PROBABLE
    MINERAL RESERVES&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<SUP>(1,3,4,5,6,8)</SUP></FONT></TD><TD STYLE="padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">Kinross Gold Corporation's Share at
    December 31, 2019</FONT></TD><TD STYLE="padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="3" COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt"><B></B>Location</FONT></P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Kinross
    <BR>
Interest</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Proven</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Probable</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; text-align: center; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Proven
    and Probable</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(%)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>NORTH
    AMERICA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Round
    Mountain</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8,171</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6.2</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,622</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8,171</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6.2</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,622</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8,171</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6.2</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,622</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8,171</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6.2</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,622</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.15pt"><FONT STYLE="font-size: 8pt"><B>SOUTH AMERICA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1pt 3pt; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>La Coipa</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: right; border-bottom: Black 1pt solid; padding: 1pt 3pt; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><SUP>8</SUP></B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chile</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>368</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>55.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>659</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>14,398</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>79.8</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>36,946</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>14,766</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>79.2</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>37,605</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>368</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>55.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>659</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>14,398</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>79.8</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>36,946</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>14,766</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>79.2</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>37,605</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.15pt"><FONT STYLE="font-size: 8pt"><B>RUSSIA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Dvoinoye</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,574</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>9.1</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>460</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>250</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>15.9</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>128</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,824</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>10.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>588</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Kupol</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>772</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>82.6</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,049</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,279</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.2</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>13,789</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5,051</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>97.5</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>15,838</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,346</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>33.3</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,509</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,529</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>95.6</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>13,917</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6,875</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>74.3</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>16,426</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>TOTAL
    SILVER</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,714</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>36.3</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,168</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>27,098</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>60.2</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>52,485</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>29,812</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>58.1</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>55,653</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C59B5F"><B>
</B></FONT></P>

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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 16</B></FONT><B> <FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>



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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 49%; font: 10pt Times New Roman, Times, Serif; color: #C59B5F; vertical-align: middle"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: #C59B5F">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; width: 49%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>&nbsp;</B></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; width: 49%; text-align: left"><FONT STYLE="font-size: 8pt">MINERAL
    RESERVE AND MINERAL RESOURCE STATEMENT</FONT></TD><TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; border-right: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: right; width: 49%"><FONT STYLE="font-size: 8pt">GOLD</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: left"><B>MEASURED AND INDICATED MINERAL RESOURCES&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<SUP>(2,3,4,5,6,7,8,9)</SUP></B></TD><TD STYLE="padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif"><B>Kinross Gold Corporation's Share at December 31,
        2019</B></TD><TD STYLE="padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="3" COLSPAN="2" STYLE="border-top: Black 1pt solid; text-align: center; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 1pt solid; vertical-align: middle; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt"><B></B>Location</FONT></P></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; vertical-align: middle; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Kinross
    <BR>
Interest</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Measured</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Indicated</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Measured
    and Indicated</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(%)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>NORTH
    AMERICA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Bald
    Mountain</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8,556</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>232</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>189,548</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.6</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,630</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>198,104</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.6</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,862</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Fort
    Knox</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6,670</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>80</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>170,063</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,946</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>176,733</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,026</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Kettle
    River</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>575</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>162</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>575</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>162</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Round
    Mountain</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>119,470</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.7</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,834</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>119,470</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.7</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,834</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>15,226</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>312</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>479,656</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.6</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8,572</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>494,882</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.6</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8,884</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.15pt"><FONT STYLE="font-size: 8pt"><B>SOUTH AMERICA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1pt 3pt; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>La Coipa</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><SUP>8</SUP></B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chile</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,611</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.2</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>186</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>13,388</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>769</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>15,999</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.9</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>955</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Lobo
    Marte</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chile</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>222,509</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.1</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8,190</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>222,509</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.1</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8,190</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Maricunga</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chile</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>35,908</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>937</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>209,097</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.7</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,492</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>245,005</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.7</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5,429</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Paracatu</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Brazil</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>181,341</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.3</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,001</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>163,562</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,072</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>344,903</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,073</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>219,860</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.4</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,124</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>608,556</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.8</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>15,523</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>828,416</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.7</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>18,647</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.15pt"><FONT STYLE="font-size: 8pt"><B>AFRICA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chirano</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Ghana</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>90.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,850</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>306</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8,197</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.3</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>618</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>13,047</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.2</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>924</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Tasiast</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Mauritania</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,465</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.7</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>104</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>64,854</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.2</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,530</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>69,319</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.2</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,634</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>9,315</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>410</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>73,051</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.3</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,148</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>82,366</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.3</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,558</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.15pt"><FONT STYLE="font-size: 8pt"><B>RUSSIA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1pt 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chulbatkan</B></FONT></TD>
    <TD STYLE="text-align: right; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><SUP>9</SUP></B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>87,039</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.4</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,908</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>87,039</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.4</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,908</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Dvoinoye</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5.9</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>34</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>12.7</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>14</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>39</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>11.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>15</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Kupol</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>260</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>9.7</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>82</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,685</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>414</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,945</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7.9</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>496</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>265</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>9.7</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>83</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>88,758</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.5</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,336</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>89,023</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.5</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,419</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>TOTAL
    GOLD</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>244,666</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.5</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,929</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,250,021</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.8</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>31,579</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,494,687</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.7</B></FONT></TD>
    <TD STYLE="text-align: right; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>35,508</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; width: 49%; text-align: left"><FONT STYLE="font-size: 8pt">MINERAL
    RESERVE AND MINERAL RESOURCE STATEMENT</FONT></TD><TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; border-right: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: right; width: 49%"><FONT STYLE="font-size: 8pt">SILVER</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: left"><B>MEASURED AND INDICATED MINERAL RESOURCES&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<SUP>(2,3,4,5,6,7,8)</SUP></B></TD><TD STYLE="padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif"><B>Kinross Gold Corporation's Share at December 31,
        2019</B></TD><TD STYLE="padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="3" COLSPAN="2" STYLE="border-top: Black 1pt solid; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center; vertical-align: middle"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt"><B></B>Location</FONT></P></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; text-align: center; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Kinross
    <BR>
Interest</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Measured</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Indicated</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; text-align: center; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Measured
    and Indicated</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; padding: 1pt 3pt; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(%)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding: 1pt 3pt; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding: 1pt 3pt; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding: 1pt 3pt; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding: 1pt 3pt; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>NORTH
    AMERICA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Round
    Mountain</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,513</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,135</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,513</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,135</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,513</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,135</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,513</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,135</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.15pt"><FONT STYLE="font-size: 8pt"><B>SOUTH AMERICA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1pt 3pt; border-bottom: black 1pt solid; border-left: Black 1pt solid; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>La Coipa</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; text-align: right; border-right: Black 1pt solid; border-bottom: black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><SUP>8</SUP></B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chile</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,611</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>37.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,174</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>13,388</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>55.4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>23,828</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>15,999</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>52.5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>27,002</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,611</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>37.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>3,174</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>13,388</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>55.4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>23,828</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>15,999</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>52.5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>27,002</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.15pt"><FONT STYLE="font-size: 8pt"><B>RUSSIA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Dvoinoye</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>7.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>34</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>11.7</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>13</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>39</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>11.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>14</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Kupol</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>260</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>135.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,135</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,685</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>102.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5,526</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,945</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>106.5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6,661</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>265</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>133.1</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,136</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,719</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.2</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5,539</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,984</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>104.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6,675</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>TOTAL
    SILVER</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,876</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>46.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,310</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>19,620</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>48.4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>30,502</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>22,496</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>48.1</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>34,812</B></FONT></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: 0pt 0; color: #C59B5F">&nbsp;</P>

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 17</B></FONT><B> <FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


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

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

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 49%; font: 10pt Times New Roman, Times, Serif; color: #C59B5F; vertical-align: middle"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: #C59B5F">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; width: 49%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>&nbsp;</B></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 60%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; width: 70%; text-align: left"><B>MINERAL RESERVE AND MINERAL RESOURCE STATEMENT</B></TD><TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; border-right: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: right; width: 28%"><FONT STYLE="font-size: 8pt">GOLD</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: left"><B>INFERRED MINERAL RESOURCES&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<SUP>(2,3,4,5,6,7,8,9)</SUP></B></TD><TD STYLE="padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif"><B>Kinross Gold Corporation's Share at December 31,
        2019</B></TD><TD STYLE="padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="3" COLSPAN="2" STYLE="border-top: Black 1pt solid; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center; vertical-align: middle"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt"><B></B>Location</FONT></P></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: middle; text-align: center; padding: 1pt 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Kinross<BR>

    Interest</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Inferred</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(%)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>NORTH
    AMERICA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Bald
    Mountain</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>47,936</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>808</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Fort
    Knox</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>86,054</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.3</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>774</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Kettle
    River</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>310</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>8.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>85</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Round
    Mountain</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>54,217</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,072</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>188,517</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,739</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.1pt"><FONT STYLE="font-size: 8pt"><B>SOUTH AMERICA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1pt 3pt; width: 23%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>La Coipa</B></FONT></TD>
    <TD STYLE="text-align: right; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><SUP>8</SUP></B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 17%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chile</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 14%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,084</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 13%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 13%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>101</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Lobo
    Marte</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chile</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>9,637</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.7</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>207</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Maricunga</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chile</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>53,133</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,044</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Paracatu</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Brazil</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>47,267</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.2</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>368</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>112,121</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.5</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,720</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.1pt"><FONT STYLE="font-size: 8pt"><B>AFRICA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chirano</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Ghana</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>90.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6,165</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.2</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>443</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Tasiast</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Mauritania</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5,478</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>353</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>11,643</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.1</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>796</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.1pt"><FONT STYLE="font-size: 8pt"><B>RUSSIA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1pt 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chulbatkan</B></FONT></TD>
    <TD STYLE="text-align: right; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><SUP>9</SUP></B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,517</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>79</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Dvoinoye</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>49</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>26.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>43</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Kupol</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,520</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>10.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>489</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,086</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>611</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>TOTAL
    GOLD</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>316,367</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.6</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>5,866</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 60%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; width: 70%; text-align: left"><B>MINERAL RESERVE AND MINERAL RESOURCE STATEMENT</B></TD><TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-top: Black 1pt solid; border-right: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: right; width: 28%"><FONT STYLE="font-size: 8pt">SILVER</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: left"><B>INFERRED MINERAL RESOURCES&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<SUP>(2,3,4,5,6,7,8)</SUP></B></TD><TD STYLE="padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1pt 3pt; border-left: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif"><B>Kinross Gold Corporation's Share at December 31,
        2019</B></TD><TD STYLE="padding: 1pt 3pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="3" COLSPAN="2" STYLE="border-top: Black 1pt solid; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 1pt solid; text-align: center; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: middle"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B>Location</FONT></P></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; text-align: center; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: middle"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Kinross
    <BR>
Interest</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; vertical-align: middle; padding: 1pt 3pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Inferred</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Tonnes</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center; vertical-align: middle"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Grade</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: center; vertical-align: middle"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ounces</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(%)</FONT></TD>
    <TD STYLE="vertical-align: middle; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(kt)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: middle"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(g/t)</FONT></TD>
    <TD STYLE="text-align: center; padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: middle"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(koz)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>NORTH
    AMERICA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Round
    Mountain</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>USA</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>755</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.9</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>71</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>755</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.9</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>71</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.1pt"><FONT STYLE="font-size: 8pt"><B>SOUTH AMERICA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 1pt 3pt; width: 23%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>La
    Coipa</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 1pt 3pt; text-align: right; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><SUP>8</SUP></B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 17%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Chile</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 14%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,084</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 13%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>43.1</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right; width: 13%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,890</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,084</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>43.1</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2,890</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.1pt"><FONT STYLE="font-size: 8pt"><B>RUSSIA</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Dvoinoye</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>49</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>23.0</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>37</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Kupol</B></FONT></TD>
    <TD STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Russia</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,520</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>135.4</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6,615</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>SUBTOTAL</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1,569</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>131.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>6,652</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding: 1pt 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>TOTAL
    SILVER</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>4,408</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>67.8</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 1pt 3pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>9,613</B></FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 18</B></FONT><B> <FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; width: 49%; font: 10pt Times New Roman, Times, Serif; color: #C59B5F; vertical-align: middle"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif; color: #C59B5F">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; width: 49%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Mineral Reserve and Mineral Resource Statement
Notes </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 61.45pt 0pt 5.8pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Unless otherwise noted, the Company&#8217;s mineral reserves are estimated using appropriate cut-off grades based on an assumed
gold price of $1,200 per ounce and a silver price of $17.00 per ounce. Mineral reserves are estimated using appropriate process
recoveries, operating costs and mine plans that are unique to each property and include estimated allowances for dilution and mining
recovery. Mineral reserve estimates are reported in contained units and are estimated based on the following foreign exchange rates:</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>Russian Rouble to $US 60 </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>Chilean Peso to $US 650</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>Brazilian Real to $US 3.50
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>Ghanaian Cedi to $US 5.00
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>Mauritanian Ouguiya to $US
35</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Unless otherwise noted, the Company&#8217;s mineral resources are estimated using appropriate cut-off grades based on a gold price
of $1,400 per ounce and a silver price of $20.00 per ounce. Foreign exchange rates for estimating mineral resources were the same
as for mineral reserves.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company&#8217;s mineral reserve and mineral resource estimates as at December 31, 2019 are classified in accordance with the
Canadian Institute of Mining, Metallurgy and Petroleum (&#8220;CIM&#8221;) &#8220;CIM Definition Standards - For Mineral Resources
and Mineral Reserves&quot; adopted by the CIM Council (as amended, the &#8220;CIM Definition Standards&#8221;) in accordance with
the requirements of National Instrument 43-101 &#8220;Standards of Disclosure for Mineral Projects&quot; (&#8220;NI 43-101&#8221;).
Mineral reserve and mineral resource estimates reflect the Company's reasonable expectation that all necessary permits and approvals
will be obtained and maintained.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Cautionary note to U.S. Investors concerning estimates of mineral reserves and mineral resources. These estimates have been prepared
in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States&#8217; securities
laws. The terms &#8220;mineral reserve&#8221;, &#8220;proven mineral reserve and &#8220;probable mineral reserve&#8221; are Canadian
mining terms as defined in accordance with NI 43-101 and the CIM Definition Standards. The CIM Definition Standards differ from
the definitions in the United States Securities and Exchange Commission (&#8220;SEC&#8221;) Guide 7 (&#8220;SEC Guide 7&#8221;)
under the United States Securities Act of 1933, as amended. Under SEC Guide 7, a &#8220;final&#8221; or &#8220;bankable&#8221;
feasibility study is required to report mineral reserves, the three-year historical average price is used in any mineral reserve
or cash flow analysis to designate mineral reserves and the primary environmental analysis or report must be filed with the appropriate
governmental authority. In addition, the terms &#8220;mineral resource&#8221;, &#8220;measured mineral resource&#8221;, &#8220;indicated
mineral resource&#8221; and &#8220;inferred mineral resource&#8221; are defined in NI 43-101 and recognized by Canadian securities
laws but are not defined terms under SEC Guide 7 or recognized under U.S. securities laws. U.S. investors are cautioned not to
assume that any part or all of mineral deposits in these categories will ever be upgraded to mineral reserves. &#8220;Inferred
mineral resources&#8221; have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and
legal feasibility. It cannot be assumed that all or any part of an &#8220;inferred mineral resource&#8221; will ever by upgraded
to a higher category. Under Canadian securities laws, estimates of &#8220;inferred mineral resources&#8221; may not form the basis
of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that all or any part
of an inferred mineral resource exists or is economically or legally mineable. Accordingly, these mineral reserve and mineral resource
estimates and related information may not be comparable to similar information made public by U.S. companies subject to the reporting
and disclosure requirements under the United States federal laws and the rules and regulations thereunder, including SEC Guide
7.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company's mineral resource and mineral reserve estimates were prepared under the supervision of and verified by Mr. John Sims,
an officer of Kinross, who is a qualified person as defined by NI 43-101.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>(6)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company&#8217;s normal data verification procedures have been used in collecting, compiling, interpreting and processing the
data used to estimate mineral reserves and mineral resources. Independent data verification has not been performed.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><I>(7)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Mineral resources that are not mineral reserves do not have to demonstrate economic viability. Mineral resources are subject to
infill drilling, permitting, mine planning, mining dilution and recovery losses, among other things, to be converted into mineral
reserves. Due to the uncertainty associated with inferred mineral resources, it cannot be assumed that all or any part of an inferred
mineral resource will ever be upgraded to indicated or measured mineral resources, including as a result of continued exploration.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <I>(8)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</I> <I>Includes mineral resources from the Puren deposit in which the Company holds a 65% interest.</I></P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <I>(9)</I> <I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Chulbatkan was acquired by Kinross effective January 16, 2020.</I></P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 19</B></FONT><B> <FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


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    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; width: 49%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Mineral Reserve and Mineral Resource Definitions</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: windowtext">A </FONT><FONT STYLE="color: #C59B5F"><B>&#8216;Mineral
Resource&#8217;</B></FONT> is a concentration or occurrence of solid material of economic interest in or on the Earth&#8217;s crust
in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction. The location,
quantity, grade or quality, continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted
from specific geological evidence and knowledge, including sampling.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: windowtext">An </FONT><FONT STYLE="color: #C59B5F"><B>&#8216;Inferred
Mineral Resource&#8217; </B></FONT><FONT STYLE="color: windowtext">is </FONT>that part of a Mineral Resource for which quantity
and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient
to imply but not verify geological and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence
than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that
the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: windowtext">An </FONT><FONT STYLE="color: #C59B5F"><B>&#8216;Indicated
Mineral Resource&#8217;</B></FONT> <FONT STYLE="color: windowtext">is </FONT>that part of a Mineral Resource for which quantity,
grade or quality, densities, shape and physical characteristics are estimated with sufficient confidence to allow the application
of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological
evidence is derived from adequately detailed and reliable exploration, sampling and testing and is sufficient to assume geological
and grade or quality continuity between points of observation. An Indicated Mineral Resource has a lower level of confidence than
that applying to a Measured Mineral Resource and may only be converted to a Probable Mineral Reserve.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A <FONT STYLE="color: #C59B5F"><B>&#8216;Measured
Mineral Resource&#8217; </B></FONT>is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and
physical characteristics are estimated with confidence sufficient to allow the application of Modifying Factors to support detailed
mine planning and final evaluation of the economic viability of the deposit. Geological evidence is derived from detailed and reliable
exploration, sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation.
A Measured Mineral Resource has a higher level of confidence than that applying to either an Indicated Mineral Resource or an Inferred
Mineral Resource. It may be converted to a Proven Mineral Reserve or to a Probable Mineral Reserve.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 2.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: windowtext">A &#8216;</FONT><FONT STYLE="color: #C59B5F"><B>Mineral
Reserve&#8217; </B></FONT>is the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting
materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at Pre-Feasibility
or Feasibility level as appropriate that include application of Modifying Factors. Such studies demonstrate that, at the time of
reporting, extraction could reasonably be justified. The reference point at which Mineral Reserves are defined, usually the point
where the ore is delivered to the processing plant, must be stated. It is important that, in all situations where the reference
point is different, such as for a saleable product, a clarifying statement is included to ensure that the reader is fully informed
as to what is being reported. The public disclosure of a Mineral Reserve must be demonstrated by a Pre-Feasibility Study or Feasibility
Study.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: windowtext">A </FONT><FONT STYLE="color: #C59B5F"><B>&#8216;Probable
Mineral Reserve&#8217; </B></FONT><FONT STYLE="color: windowtext">is </FONT>the economically mineable part of an Indicated, and
in some circumstances, a Measured Mineral Resource. The confidence in the Modifying Factors applying to a Probable Mineral Reserve
is lower than that applying to a Proven Mineral Reserve.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: windowtext">A </FONT><FONT STYLE="color: #C59B5F"><B>&#8216;Proven
Mineral Reserve&#8217; </B></FONT><FONT STYLE="color: windowtext">is the </FONT>economically mineable part of a Measured Mineral
Resource. A Proven Mineral Reserve implies a high degree of confidence in the Modifying Factors.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 20</B></FONT><B> <FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


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    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; width: 49%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 &#8220;forward-looking information&#8221; or &#8220;forward-looking
statements&#8221; within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and the
provisions for &#8220;safe harbor&#8221; 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, but are not limited to, those under the headings (or headings that include) &#8220;Development Projects&#8221;,
 &#8220;CEO Commentary&#8221;, &#8220;Exploration and Mineral Reserves and Resources update&#8221; and &#8220;2019 Mineral Reserves
and Resources update&#8221;, &#8220;Exploration update&#8221; as well as statements with respect to our guidance for production,
production costs of sales, all-in sustaining cost and capital expenditures; the schedules and budgets for the Company&#8217;s development
projects; mine life; and continuous improvement initiatives, as well as references to other possible events, the future price of
gold and silver, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing
of the development of projects and new deposits, estimates and the realization of such estimates (such as mineral or gold reserves
and resources or mine life), success of exploration, development and mining, currency fluctuations, capital requirements, project
studies, mine life extensions, government regulation permit applications and conversions, restarting suspended or disrupted operations;
environmental risks and proceedings; and resolution of pending litigation. The words &#8220;advance&#8221;, &#8220;continue&#8221;,
 &#8220;encouraging&#8221;, &#8220;estimates&#8221;, &#8220;expects&#8221;, &#8220;explore&#8221;, &#8220;forecast&#8221;, &#8220;focus&#8221;,
 &#8220;goal&#8221;, &#8220;intend&#8221;, &#8220;objective&#8221;, &#8220;on budget&#8221;, &#8220;on schedule&#8221;, &#8220;on
target&#8221;, &#8220;on track&#8221;, &#8220;opportunity&#8221;, &#8220;plan&#8221;, &#8220;potential&#8221;, &#8220;prioritize&#8221;,
 &#8220;promising&#8221;, &#8220;prospective&#8221;, &#8220;schedule&#8221;, &#8220;target&#8221;, &#8220;upside&#8221; or variations
of or similar such words and phrases or statements that certain actions, events or results may, could, should or will be achieved,
received or taken, or will occur or result and similar such 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 Management&#8217;s
Discussion and Analysis (&#8220;MD&amp;A&#8221;) for the year ended December 31, 2019, and the Annual Information Form dated March
29, 2019 as well as: (1) there being no significant disruptions affecting the operations of the Company, whether due to extreme
weather events (including, without limitation, excessive or lack of rainfall, in particular, the potential for further production
curtailments at Paracatu resulting from insufficient rainfall and the operational challenges at Fort Knox and Bald Mountain resulting
from excessive rainfall, which can impact costs and/or production) and other or related natural disasters, labour disruptions (including
but not limited to workforce reductions), supply disruptions, power disruptions, damage to equipment, pit wall slides (in particular
that the effects of the pit wall slides at Fort Knox and Round Mountain are consistent with the Company&#8217;s expectations) or
otherwise; (2) permitting, development, operations and production from the Company&#8217;s operations and development projects
being consistent with Kinross&#8217; current expectations including, without limitation: the maintenance of existing permits and
approvals and the timely receipt of all permits and authorizations necessary for the operation of the Tasiast Phase One expansion,
and the development and operation of the 24k Project; operation of the SAG mill at Tasiast; land acquisitions and permitting for
the construction and operation of the new tailings facility, water and power supply and continued operation of the tailings reprocessing
facility at Paracatu; and the parliamentary ratification of the Chirano mining permit in a manner consistent with the Company&#8217;s
expectations; (3) political and legal developments in any jurisdiction in which the Company operates being consistent with its
current expectations including, without limitation, the impact of any political tensions and uncertainty in the Russian Federation
and Ukraine or any related sanctions and any other similar restrictions or penalties imposed, or actions taken, by any government,
including but not limited to amendments to the mining laws, and potential power rationing and tailings facility regulations in
Brazil, potential amendments to water laws and/or other water use restrictions and regulatory actions in Chile, new dam safety
regulations, and potential amendments to minerals and mining laws and energy levies laws, and the enforcement of labour laws in
Ghana, new regulations relating to work permits, potential amendments to customs and mining laws (including but not limited to
amendments to the VAT) and the pending implementation of revisions to the tax code in Mauritania, and satisfactory resolution of
the discussions with the Mauritanian government regarding the Company&#8217;s activities in Mauritania including those related
to Tasiast Sud, VAT and fuel duty exonerations and the sharing of economic benefits from the operation, the European Union&#8217;s
General Data Protection Regulation or similar legislation in other jurisdictions and potential amendments to and enforcement of
tax laws in Russia (including, but not limited to, the interpretation, implementation, application and enforcement of any such
laws and amendments thereto), and the impact of any trade tariffs being consistent with Kinross&#8217; current expectations; (4)
the completion of studies, including optimization studies, scoping studies and prefeasibility and feasibility studies, on the timelines
currently expected and the results of those studies being consistent with Kinross&#8217; current expectations, including the completion
of the La Coipa feasibility study and the Lobo-Marte pre-feasibility study; (5) the exchange rate between the Canadian dollar,
Brazilian real, Chilean peso, Russian rouble, Mauritanian ouguiya, Ghanaian cedi and the U.S. dollar being approximately consistent
with current levels; (6) certain price assumptions for gold and silver; (7) prices for diesel, natural gas, fuel oil, electricity
and other key supplies being approximately consistent with current levels; (8) production and cost of sales forecasts for the Company
meeting expectations; (9) 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), mine plans for the Company&#8217;s mining operations, and the Company&#8217;s
internal models; (10) labour and materials costs increasing on a basis consistent with Kinross&#8217; current expectations; (11)
the terms and conditions of the legal and fiscal stability agreements for the Tasiast and Chirano operations being interpreted
and applied in a manner consistent with their intent and Kinross&#8217; expectations and without material amendment or formal dispute
(including without limitation the application of tax, customs and duties exemptions and royalties); (12) goodwill and/or asset
impairment potential; (13) the regulatory and legislative regime regarding mining, electricity production and transmission (including
rules related to power tariffs) in Brazil being consistent with Kinross&#8217; current expectations; (14) access to capital markets,
including but not limited to maintaining our current credit ratings consistent with the Company&#8217;s current expectations; (15)
that the Brazilian power plants will operate in a manner consistent with our current expectations; (16) that drawdown of funds
under the Tasiast project financing will proceed in a manner consistent with our current expectations; (17) potential direct or
indirect operational impacts resulting from infectious diseases or pandemics; and (18) litigation and regulatory proceedings and
the potential ramifications thereof being concluded in a manner consistent with the Company&#8217;s expectations (including without
limitation the ongoing litigation in Chile relating to the alleged damage of wetlands and the scope of any remediation plan or
other environmental obligations arising therefrom ,the ongoing litigation with the Russian tax authorities regarding dividend withholding
tax and the ongoing Sunnyside litigation regarding potential CERCLA liability). 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: 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&#8217;s business, operations or other activities in, any such jurisdiction; 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, production royalties, 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 Canada, the United States, Chile, Brazil, Russia, Mauritania, Ghana, or other countries in which Kinross
does business or may carry on business; business opportunities that may be presented to, or pursued by, us; 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,
administrative orders 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, environmental litigation or regulatory proceedings
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 ratings; 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&#8217; 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&#8217;s expectations and plans
relating to the future. All of the forward-looking statements made in this news release are qualified by this cautionary statement
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 &#8220;Risk Analysis&#8221; section of our MD&amp;A for the year ended December 31, 2019
and the Annual Information Form dated March 29, 2019. 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: 0pt 0; text-align: justify"></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 21</B></FONT><B> <FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


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

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

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 49%; color: #C59B5F; vertical-align: middle"><IMG SRC="tm207819d1_ex99-2img01.jpg" ALT="">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%; color: #C59B5F">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 49%; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><B>Kinross
Gold Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 York Street 17th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, ON, Canada M5J 2V5</P>
</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Where we say &quot;we&quot;, &quot;us&quot;,
 &quot;our&quot;, the &quot;Company&quot;, or &quot;Kinross&quot; in this presentation, 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: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>The technical information about the
Company&#8217;s mineral properties contained in this presentation has been prepared under the supervision of Mr. John Sims, an
officer of the Company who is a &#8220;qualified person&#8221; within the meaning of National Instrument 43-101.</I></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Source Code: Kinross Gold Corporation</P>

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

<P STYLE="border-top: rgb(197,155,95) 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #C59B5F"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: gray"><B>p. 22</B></FONT><B> <FONT STYLE="color: #C59B5F">Kinross
provides update on development projects and full-year 2019 exploration results</FONT></B></P>


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