Fairbanks Gold Mining, Inca subsidiary of

Kinross Gold Corporation

FGMI Management Team

VP & General Manager John WildChief Mine Engineer Jerod EastmanController Debbie EvansExploration Manager Rich HarrisMill Manager John HollowMill Superintendent Bob MusgroveEnvironmental Manager Delbert ParrLoss Control Manager Rowdy HeiserHuman Resources Manager Caroline SandelCommunity Affairs Director Lorna ShawMaintenance Superintendent Cade SmithMine Superintendent Dan Snodgress

– Incident/accident analysis

– Incentive programs

– Planned inspections

– Emergency preparedness

– Crisis communication

– Emergency Response Team training

Health and Safety

Fort Knox… Where safety is more precious than gold.

2005 Record of Excellence

NOVs 0

Reportable Spills 0

Permit Exceedences 0

Environmental Commitment

Reclamation atTrue North

Environmental Commitment

Mine Operations - 2005

Phase 6

Phase 4 Phase 5

Mine Operations - 2005

Phase 4 • Primary mill feed source• 1 hydraulic shovel• Additional loaders as needed

Phase 5 • Primary mill feed source• 2 hydraulic shovels• Additional loaders as needed

Mine Operations - 2005

Phase 6 • 58,000,000 tons of “waste”• Sustained mill feed early 2007• 1 hydraulic shovel• Additional loaders as needed

Mining Equipment

2 – CAT 992G loaders1 – CAT 994D loader2 – Hitachi EX3600 shovels1 – Hitachi EX3500 shovel1 – CAT 5130 shovel3 – CAT 777 haul trucks10 – CAT 785 haul trucks8 – CAT 789 haul trucks1 – CAT 793 haul truck

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04

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Technology Improvements

Looking to the Future

Replace and grow reserves:• Fort Knox pit expansion• Near mine exploration• District exploration• Outside acquisition and

discovery opportunities

2005 Challenges

Power$300,000 monthly increase

Steel $80,000 monthly increase

Fuel $80,000 monthly increase

Educational Partnerships UAF Process Technology degreeHutchison Institute of Technology partnershipUAF’s Tanana Valley CampusMontana State UniversityParticipation in educational and community job fairs

Competitive Job Market

Community Partnerships

– AK Mineral & Energy Resource Education Fund

(AMEREF)

– Junior Achievement

– US Fish & Wildlife Outdoor Days

– Clean Up Day

– Won ESGR Above and Beyond Award

Economic Benefits

– 425 high quality jobs

– $36 million in wages

– $70 million in direct purchases in Fairbanks

– $3.4 million in FNSB property taxes

– Work with over 500 Fairbanks companies

– Business with over 700 Alaskan companies

Business in Alaska