October 3-4 KINROSS GOLD CORPORATION 2017 Tasiast analyst & investor tour: Developing a world-class mine 1 1 www.kinross.com
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION All statements, other than statements of historical fact, contained or incorporated by reference in or made in giving this presentation and responses to questions, including but not limited to any information as to the future performance of Kinross, constitute “forward looking statements” within the meaning of applicable securities laws, including the provisions of the Securities Act (Ontario) and the provisions for “safe harbor” 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 presentation. Forward-looking statements contained in this presentation include those statements on slides with, and statements made under, the headings “Tasiast Mill Expansion”, “Developing a World-Class Mine”, and include, without limitation, statements with respect to mine life extensions, costs and timing of development activities, future production, production costs of sales, all-in sustaining cost and capital expenditures, continuous improvement and other cost savings opportunities, as well as references to other possible events including, without limitation, possible events; opportunities; statements with respect to possible events or opportunities; estimates (including, without limitation, gold / mineral resources, gold / mineral reserves and mine life) and the realization of such estimates; future development, mining activities, production and growth, including but not limited to cost and timing; success of exploration or development of operations; the results of any studies including, without limitation, feasibility studies; the future price of gold and silver; currency fluctuations; expected capital requirements; government regulation; and environmental risks. The words “assumption”, “budget”, “encouraging”, “enhancing”, “estimate”, “expect”, “feasibility”, “focus”, “forward”, “future”, “goal”, “indicate”, “on track”, “opportunity”, “phased”, “plan”, “positive”, “potential”, “prospective”, “progressing”, “project”, “risk”, or “study”, or variations of or similar such words and phrases or statements that certain actions, events or results may, can, could, would, should, might, indicates, or will be taken, and similar expressions identify forward looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many of these uncertainties and contingencies can affect, and could cause, Kinross’ actual results to differ materially from those expressed or implied in any forward looking statements made by, or on behalf of, Kinross. Statements representing management’s financial and other outlook have been prepared solely for purposes of expressing their current views regarding the Company’s financial and other outlook and may not be appropriate for any other purpose. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward looking statements made in this presentation are qualified by these cautionary statements, and those made in our filings with the securities regulators of Canada and the U.S., including but not limited to those cautionary statements made in the “Risk Factors” section of our most recently filed Annual Information Form, the “Risk Analysis” section of our FYE 2016 and Q2 2017 Management’s Discussion and Analysis, and the “Cautionary Statement on Forward-Looking Information” in our news release dated September 18, 2017, to which readers are referred and which are incorporated by reference in this presentation, all of which qualify any and all forward ‐ looking statements made in this presentation. 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. Other information Where we say "we", "us", "our", the "Company", or "Kinross" in this presentation, we mean Kinross Gold Corporation and/or one or more or all of its subsidiaries, as may be applicable. The technical information about the Company’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 “qualified person” within the meaning of National Instrument 43-101. 2 2 www.kinross.com
WELCOME TO THE TASIAST MINE TOUR 3 3 3 Tom Elliott – Senior Vice-President, Investor Relations & Corporate Development www.kinross.com
Presenters and Q&A Panel Mike Sylvestre Regional Vice-President, Africa Guy Bourassa Vice-President and Project Director, Tasiast Project Paul Tomory Chief Technical Officer John Sims Vice-President, Resource Geology & Brownfields Exploration (Q.P.) Tom Elliott Senior Vice-President, Investor Relations & Corporate Development INTRODUCTIONS & AGENDA 4 4 4 www.kinross.com
DEVELOPING A WORLD-CLASS MINE TASIAST HIGHLIGHTS • Highly prospective district with significant exploration potential World-class orebody: 8.0M oz. of proven and probable reserves, 3.1M oz. of measured & indicated gold resources and 0.4M oz. of inferred resource estimates (i) Accelerating drill program following encouraging results & initiating Tasiast Sud pre-feasibility study • Improvements at the existing operation enhancing future value Achieving reductions in mining and processing costs Expect positive trend to continue • Expansion projects expected to transform Tasiast into a large, low-cost producer Excellent progress on Phase One Proceeding with Phase Two 5 (i) As at December 31, 2016. Please refer to Kinross’ Annual Mineral Reserve and Mineral Resource Statement, available on our website at www.Kinross.com. 5 www.kinross.com
DEVELOPING A WORLD-CLASS MINE TASIAST: HISTORICAL CONTEXT Focus has been to right-size the processing capacity to capture the full value and potential of Tasiast’s large mineral resource estimate 2014 2015 2016 2017 2018 2019 2020 Feasibility Study Results Two-phased expansion Phase One Phase Two 38k t/d scenario study results expected to reach expected to reach commercial commercial Capex estimate: $1.6B Phase One approved production in production in Capex estimate: $300M Q2 2018 Q3 2020 Phase Two proceeds to feasibility study Capex estimate: $620M Phase Two feasibility study Initiated studies on two-phased expansion results Phase Two approved Financially disciplined approach to expansion Revised capex estimate: $590M using existing infrastructure * Capital estimates on this slide do not include estimated capitalized stripping 6 6 www.kinross.com
Morocco map Canary Islands Algeria Western Sahara Mali Tasiast Mauritania Nouakchott (capital) Senegal MAURITANIA: LOCATION 7 7 7 www.kinross.com
GEOLOGY & EXPLORATION 8 8 8 John Sims - Vice-President, Resource Geology & Brownfields Exploration (Q.P.) www.kinross.com
GEOLOGY & EXPLORATION GEOLOGY OVERVIEW • Aouéouat greenstone belt hosts all of the known Tasiast deposits and most of current exploration prospects 80 km x 8 km 312 km 2 mining lease Tasiast Geology 3,118 km 2 exploration licences • Aouéouat belt shares similarities with other Late Archaean terranes, such as: Tasiast mine Yilgarn in Australia Tasiast Sud Abitibi in Canada 0 km 5 km 10 km 15 km 20 km 9 9 www.kinross.com
GEOLOGY & EXPLORATION TASIAST CROSS-SECTION Looking North - West Branch AA’ cross-section (12.5m window) A A’ Reserve pit outline September 2017 pit outline Resource pit outline Plan view A A’ Lithology Dyke BIF Sediments Felsite Diorite (GDI) 10 10 www.kinross.com
GEOLOGY & EXPLORATION TASIAST SUD Encouraging results from C6.13 and C6.15 in the Tasiast Sud Area • Tamaya: approximately 335k oz. of measured & indicated gold resources (i) defined in 2015 • Recent drilling in the Tasiast Sud area has focused C6.13 on the C6.13 and C6.15 deposits in the Tasiast Sud area Located ~10 km south of the Tasiast mine and Tamaya west of the Tamaya deposit C6.14 • Completed 13,000 metres of drilling in H1 2017 Majority of material at both targets is within a C6.15 banded iron formation (similar to Piment) C6.13 defined over approximately 2 km of strike; open to the north and south Sadraya C6.15 defined over 3 km of strike 11 (i) Please refer to Kinross’ Annual Mineral Reserve and Mineral Resource Statement, available on our website at www.Kinross.com, and associated assumptions. 11 www.kinross.com
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