Kinross Gold Corporation 25 York Street, 17th Floor Toronto, ON Canada M5J 2V5 For more information, please

see Kinross’ 2013 first-quarter Financial Statements and MD&A at www.kinross.com

NEWS RELEASE

Kinross reports 2013 first-quarter results
Toronto, Ontario – May 7, 2013 – Kinross Gold Corporation (TSX: K, NYSE: KGC) today announced its results for the first quarter ended March 31, 2013.
(This news release contains forward-looking information subject to the risks and assumptions set out in our Cautionary Statement on Forward-Looking Information located on page six of this release. All dollar amounts in this release are expressed in U.S. dollars, unless otherwise noted. The comparative figures have been recast to exclude Crixás due to its disposal.)

Financial and operating highlights:
         Production : 648,897 gold equivalent ounces (Au eq. oz.), compared with 588,358 ounces in Q1 2012. Revenue: $1,058.1 million, compared with $1,005.1 million in Q1 2012. Production cost of sales : $729 per Au eq. oz., compared with $738 in Q1 2012. All-in sustaining cost2: $1,038 per Au oz. sold, compared with $1,180 in Q1 2012. Attributable margin : $895 per ounce sold, compared with $906 in Q1 2012. Adjusted operating cash flow2: $411.8 million, or $0.36 per share, compared with $319.3 million, or $0.28 per share, in Q1 2012. Adjusted net earnings2, 4: $170.5 million, or $0.15 per share, compared with $196.1 million, or $0.17 per share, in Q1 2012. Reported net earnings : $160.5 million, or $0.14 per share, compared with net earnings of $99.6 million, or $0.09 per share, for Q1 2012. Outlook: The Company expects to be within its 2013 forecast guidance for production (2.4-2.6 million attributable gold equivalent ounces), production cost of sales ($740-$790 per gold equivalent ounce), all-in sustaining cost ($1,100-$1,200 per gold ounce sold) and capital expenditures ($1.6 billion).
4 3 2 1

Development projects:
 The Company announced results of the Tasiast expansion project pre-feasibility study on April 29, 2013. The Company is proceeding to a full feasibility study on a 38,000 tonne per day (tpd) mill. The feasibility study is expected to be completed in the first quarter of 2014. Dvoinoye remains on schedule to commence full production in the second half of the year.

Board of Directors:
 On April 3, 2013, Kinross announced the appointments of Mr. John Macken, Ms. Una Power, and Ms. Ruth Woods to its Board of Directors.

1

Unless otherwise stated, production figures in this news release are based on Kinross’ 90% share of Chirano production. Prior year production figures have been adjusted to exclude Crixás due to its sale in Q2 2012. These figures are non-GAAP financial measures and are defined and reconciled on pages eight to 10 of this news release. 3 Attributable margin per ounce sold is a non-GAAP measure defined as “average realized gold price per ounce” less “attributable production cost of sales per gold equivalent ounce sold”. 4 “Net earnings (loss) figures in this release represent “net earnings (loss) from continuing operations attributable to common shareholders”.
2

“We continue to focus on margin and cash flow.14 170.6 0.28 1.82:1 f or t he f irst quart er of 2012. and plan to make a decision on whether to proceed with construction of an expanded operation following completion of the study.14 0. in our mine planning and production decisions.Sold (c) 655. ON.09 0.5 0.358 604. 2 Kinross reports 2013 first-quarter results www.5 301. versus production at any cost.180 Tot al includes 100%of Chirano product ion.3 0. depletion and amortization Operating earnings Net earnings from continuing operations attributable to common shareholders Basic earnings per share from continuing operations attributable to common shareholders Diluted earnings per share from continuing operations attributable to common shareholders Adjusted net earnings from continuing operations attributable to common shareholders (b) Adjusted net earnings from continuing operations per share(b) Net cash flow of continuing operations provided from operating activities Adjusted operating cash flow from continuing operations (b) Adjusted operating cash flow from continuing operations per share(b) Average realized gold price per ounce from continuing operations Consolidated production cost of sales from continuing operations per equivalent ounce(c) sold(b) Attributable(a) production cost of sales from continuing operations per equivalent ounce(c) sold(b) Attributable(a) production cost of sales from continuing operations per ounce sold on a by-product basis (b) Attributable(a) all-in sustaining cost from continuing operations per ounce sold on a by-product basis (b) (a) (b) (c) (a)(d) (a)(d) .352 604. as production was higher and cost of sales per ounce was lower than the same period last year.680 588.0 319.Sold (c) Attributable gold equivalent ounces from continuing operations Attributable gold equivalent ounces from continuing operations Financial Highlights from Continuing Operations Metal sales Production cost of sales Depreciation.Produced (c) Total gold equivalent ounces (a)(e) .8 0. (do llars in millio ns. The def init ion and reconciliat ion of t hese non-GAAP f inancial measures is included on pages eight t o 10 of t his news release. made the following comments in relation to first-quarter 2013 results: “Our continued focus on operational fundamentals contributed to solid results in the first quarter.Produced (c) .7 142.5 0.1 0. We are proceeding to a feasibility study at Tasiast.19:1.15 358.644 738 738 655 1. we continue to pursue opportunities to reduce capital spending and operating costs across our operations.624 729 729 674 1.Kinross Gold Corporation 25 York Street 17th Floor Toronto. The t ot al gold equivalent ounces and t ot al at t ribut able gold equivalent ounces include Crixás.” Financial results Summary of financial and operating results Three m onths ended March 31.247 621. Canada M5J 2V5 CEO Commentary J.1 451. Paul Rollinson. CEO.197 (a)(d) (a)(d) 2012 611.252 Total attributable gold equivalent ounces (a)(e) .1 475. and company-wide.058. The rat io f or t he first quart er of 2013 was 54.kinross.838 629.7 250. “During the quarter.197 648.2 99.005. except per share and per o unce amo unts) 2013 655.Produced (c) Total attributable gold equivalent ounces (a)(e) .Sold (c) 648. and completed the Tasiast prefeasibility study on schedule.Sold (c) Gold equivalent ounces from continuing operations Gold equivalent ounces from continuing operations .610 652.09 196.17 380.897 645.7 227.com . compared wit h 51.949 612. " Gold equivalent ounces" include silver ounces produced and sold convert ed t o a gold equivalent based on a rat io of t he average spot market prices for t he commodit ies f or each period. we made excellent development progress at Dvoinoye.505 595. The comparat ive f igures have been recast t o exclude Crixás' result s due t o it s disposal. " At t ributable" includes Kinross' share of Chirano (90% ) product ion.610 652.897 645.252 (d) $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1.Produced (c) .9 160. At the same time. (d) (e) p.1 411.36 1.527 Total gold equivalent ounces (a)(e) .038 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1. We are on target to meet our annual guidance for production and cost of sales at each of our regions.

085.3 million for the same period last year.624 per ounce in Q1 2013. compared with $1. and the region is on track to meet both production and production cost of sales guidance for the year. but lower compared with the previous quarter. or $0. ON. compared with $196. compared with $655 in Q1 2012. mainly due to an increase in gold equivalent ounces sold.767 ounces and attributable silver sales of 2.038 in Q1 2013. for Q1 2012. compared with $319. a 10% increase over the first quarter of 2012. for Q1 2012. a decrease of 1% compared with Q1 2012 margin of $906 per gold equivalent ounce.180 in Q1 2012. and lower mill output as a result of harder ore and slightly lower grade. as throughput increased compared with the previous quarter.14 per share.425 ounces.15 per share. for Q1 2012.8 million for the quarter. or $0. Capital expenditures: Capital expenditures were $317.100 to $1. First quarter production at Kupol was largely in line with Q1 2012.8 million as at March 31. for Q1 2013. Operating results Mine-by-mine summaries for first-quarter operating results may be found on pages 11 and 15 of this news release. The average realized gold price was $1. an increase of 5%.28 per share. Production cost of sales: Production cost of sales per gold equivalent ounce2 was $729 for the first quarter of 2013. for Q1 2013.3 million.644 per ounce for Q1 2012. while Round Mountain performed as anticipated during the quarter.17 per share.420.058. or $0. a decrease due mainly to timing of expenditures at the Tasiast expansion project. Production cost of sales per gold ounce on a by-product basis was $674 in the first quarter of 2013.6 million. Revenue: Revenue from metal sales was $1. Earnings: Adjusted net earnings2. p. The harder ore Fort Knox encountered during the quarter is not expected to continue in Q2. compared with $529. or $0. compared with $1. Reported net earnings4 were $160. mainly as a result of increased ounces sold and the timing of sustaining capital spending. Margins: Kinross’ margin per gold equivalent ounce sold3 was $895 for the first quarter of 2013.Kinross Gold Corporation 25 York Street 17th Floor Toronto.982. compared with earnings of $99. mainly due to production increases at Tasiast and Fort Knox. Russia: The region is on target to meet both production and production cost of sales guidance for the year. Mill throughput and recoveries remained strong.005.8 million for Q1 2013.200 for the year. compared with $738 for the first quarter of 2012.897 attributable gold equivalent ounces from continuing operations in the first quarter of 2013. and the completion of the fourth ball mill at Paracatu and SART plant at Maricunga in 2012.09 per share. mainly due to the expected winter slow-down of production from the heap leach at Fort Knox. Regional production was higher compared with Q1 2012.36 per share.5 million as at December 31. The decrease was mainly due to the continued focus on cost management and the increase in gold ounces sold.1 million during the same period in 2012. 2012.1 million.1 million in the first quarter of 2013. Canada M5J 2V5 The following operating and financial results are based on first-quarter 2013 attributable gold equivalent production from continuing operations: Production: Kinross produced 648. compared with $1.5 million. All-in sustaining cost: Attributable all-in sustaining cost per gold ounce sold2 was $1. compared with $1. 2013. Highlights include the following: North America: Performance was strong in the first quarter. Kettle River-Buckhorn had an outstanding quarter.kinross.com . Cash balance: Cash and cash equivalents and short-term investments were $1. 4 were $170. based on Q1 2013 attributable gold sales of 606. or $0. Operating cash flow: Adjusted operating cash flow2 was $411. but was lower compared with Q4 2012 as a result of expected lower grades. 3 Kinross reports 2013 first-quarter results www. or $0.5 million. The Company expects all-in sustaining cost per gold ounce sold to be within the previously disclosed guidance range of $1.

including the power station. 2013. Tasiast achieved its highest quarterly production since being acquired by Kinross. and thus far the parties have been unable to reach agreement on certain key economic and legal matters. with final completion expected to take place in the third quarter. Following completion of the feasibility study. including approval of the mine design. truck shop and other facilities. The decision will depend on a range of factors. South America: The region is on target to meet both production and production cost of sales guidance for the year. but production was lower than Q4 2012 as a result of expected lower grades and a slight reduction in mill throughput. the Company will make a decision on whether to complete engineering and proceed with construction. Paracatu achieved record mill throughput and continued to achieve higher mill recoveries. Due to anticipated lower grades. Infrastructure construction progressed on schedule.com . The feasibility study is scheduled for completion in the first quarter of 2014. Kinross announced the results of its pre-feasibility (PFS) study for the Tasiast expansion. Fruta del Norte As previously disclosed.567 metres completed. 4 Kinross reports 2013 first-quarter results www. Based on the PFS study results.Kinross Gold Corporation 25 York Street 17th Floor Toronto. As previously disclosed. the Company is proceeding to a full feasibility study on an expanded Tasiast operation with a 38. and various technical and other considerations.000 tpd mill. the Company expects to suspend mining of the existing orebody at La Coipa in the second half of the year. ON. expected economic returns. Production at Paracatu was lower than the previous quarter mainly due to expected lower grades at both mills. Tasiast expansion project On April 29. the Company is engaged in negotiations with the Ecuadorian government regarding exploitation and investment protection agreements for the Fruta Del Norte (FDN) project. with 1. During the first quarter.500 tpd is well underway. Dvoinoye Underground development at Dvoinoye progressed ahead of plan. particularly at Plant 2. and permitting. All necessary permits for the current scope of underground development and construction activities are in place. La Coipa’s production decreased relative to Q4 2012.kinross. The Company respects the sovereign authority of the Ecuadorian government. including gold price assumptions and projections. Expansion of Kupol’s mill capacity to 4. engineering and bidding for a permanent seawater supply system are progressing as expected. and lower grades from transitional ore as the bottom of the current phase is mined. along with improved performance from the dump leach. The new camp was completed in the quarter. Maricunga’s decrease in production was a result of less favourable heap performance. p. including advancing the installation of the permanent man camp. The project remains on schedule and on budget and is expected to commence full production in the second half of the year. truck shop and administrative building. work on a large part of the basic infrastructure improvements at Tasiast neared completion. Project update and new developments The forward-looking information contained in this section of the release is subject to the risks and assumptions contained in the Cautionary Statement on ForwardLooking Information on page six of this news release. Canada M5J 2V5 West Africa: Performance was strong during the first quarter and the region is on target to meet both production and production cost of sales guidance for the year. The production increase was mainly due to higher mining rates and expected higher grades entering the mill. Chirano performed ahead of expectations for the quarter. and a meeting with the newly appointed Minister for Non-Renewable Natural Resources has been requested with a view to continuing dialogue on the key outstanding matters.

“Risk Factors”. and meet regional production guidance. ET at the Design Exchange.m.com.kinross. The audio webcast will be archived on our website at www. Una Power. in cash. The appointments bring membership on the Kinross Board of Directors to 12. page 62.6 million that were tendered by the holders under their right to require Kinross to repurchase the convertible senior notes on March 15. Kinross expects to produce approximately 2. followed by a question-and-answer session. Macken.m. Ms. the Company redeemed. May 8. Canada M5J 2V5 The Company can give no assurances that an agreement acceptable to the parties can be reached within the required time frame5.4-2.kinross. The Company expects to be within its regional production cost of sales guidance and meet its company-wide production cost of sales range of $740-$790 per gold equivalent ounce and its all-in sustaining costs range of $1.com. effective April 3.6 billion. Ruth Woods to its Board of Directors. 2013. Power. 2013. As previously announced on February 13. 5 See Kinross’ Annual Information Form for the year ended December 31. 2013. at 10 a. On April 30.6 million gold equivalent ounces for the year. the remaining $5. ET to discuss the results. 2013 at 7:45 a. To access the call. 2013. Convertible senior notes On March 15. p. Canada.100-$1. You may also access the conference call on a listen-only basis via webcast at our website www. ON. Woods will be nominated as Directors for election by shareholders at the Kinross Annual Meeting of Shareholders on May 8. and Ms. 234 Bay Street. Passcode – 3310 followed by #. Ontario. Outlook The forward-looking information contained in this section is subject to the risk factors and assumptions contained in the Cautionary Statement on Forward-Looking Information located on page six of this news release. A live audio webcast (listen-only mode) of the Annual Meeting of Shareholders will be available at www.com. Passcode – 3310 followed by #.kinross. please dial: Canada & US toll-free – 1-800-319-4610 Outside of Canada & US – 1-604-638-5340 Replay (available up to 14 days after the call): Canada & US toll-free – 1-800-319-6413. Mr.200 per gold ounce sold on a by-product basis in 2013. Kinross will hold a conference call and audio webcast on Wednesday. May 8. and Ms. the Company repurchased convertible senior notes totaling $454. 2012. 2013.com . Kinross will hold its Annual Meeting of Shareholders on Wednesday.4 million of convertible senior notes.Kinross Gold Corporation 25 York Street 17th Floor Toronto. Other developments Board of Directors appointments Kinross announced the appointments of Mr. following the retirement of Mr. Outside of Canada & US – 1-604-638-9010. Toronto. John Macken. Ms. The Company also expects to meet its 2013 capital expenditures forecast of approximately $1. 2013. 5 Kinross reports 2013 first-quarter results www. Conference call details In connection with the release. 2013.kinross. George Michals in 2012.

Brazilian real. the failure of which will likely result in the extinguishment of the FDN concession and forfeiture of related project infrastructure to the government. costs and timing of the development of projects and new deposits. and entities in which it now or hereafter directly or indirectly holds an investment. Forward-looking statements are necessarily based upon a number of estimates and assumptions that. (8) prices for diesel.kinross. “potential”.5 years or up to a two year suspension of commencement of the exploitation phase) and entering into an exploitation agreement with the government within six months of such declared phase change or such suspension. (3) the viability. are inherently subject to significant business. Russian rouble. but are not limited to. “pursue”. Investor Relations phone: 416-365-3390 tom. ‘‘estimates’’. “projected”. being consistent with Kinross’ current expectations. “opportunity”. (10) the accuracy of the current mineral reserve and mineral resource estimates of the Company (including p. including the provisions of the Securities Act (Ontario) and the provisions for ‘‘safe harbour’’ under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations. Ghana. (4) political and legal developments in any jurisdiction in which the Company.Kinross Gold Corporation 25 York Street 17th Floor Toronto.com . (5) negotiation of an exploitation contract and an investment protection contract for Fruta del Norte with the Ecuadorian government being successfully concluded. power disruptions. “study”. 2013 (or any government approved extension of up to 1. while considered reasonable by Kinross as of the date of such statements.S. “guidance”. dollar being approximately consistent with current levels. contained or incorporated by reference in this news release. including but not limited to Kinross and the government jointly declaring a phase change from economic evaluation to exploitation prior to August 1. with a corresponding non-cash charge equal to the carrying value of FDN being recorded by the Company. ‘‘expects’’. land acquisitions and permitting for the construction and operation of the new tailings facility) being consistent with our current expectations. title disputes or claims and limitations on insurance coverage. include. Ecuador. being consistent with Kinross’ current expectations. success of exploration. ‘‘might’’.sec. events or results ‘‘may’’. but not limited to. or ‘‘will be taken’’. ‘‘plans’’. meeting expectations. whether due to labour disruptions.com) and furnished with the U.gov). ON. damage to equipment or otherwise. government regulation of mining operations. supply disruptions. the timing and amount of estimated future production. ‘‘occur’’ or ‘‘be achieved’’ and similar expressions identify forward-looking statements. About Kinross Gold Corporation Kinross is a Canadian-based gold mining company with mines and projects in Brazil. models and assumptions of Kinross referenced. economic and competitive uncertainties and contingencies. Kinross’ unaudited 2013 first quarter Financial Statements and Management’s Discussion and Analysis have been filed with Canadian securities regulators (available at www. (9) production and cost of sales forecasts for the Company.S. Russia and the United States. (2) permitting. without limitation.com Cautionary statement on forward-looking information All statements. or variations of or similar such words and phrases or statements that certain actions. the various assumptions set forth herein and in our most recently filed Annual Information Form and our fullyear 2012 Management’s Discussion and Analysis as well as: (1) there being no significant disruptions affecting the operations of the Company or any entity in which it now or hereafter directly or indirectly holds an investment. (6) the exchange rate between the Canadian dollar. Kinross shareholders may obtain a copy of the financial statements free of charge upon request to the Company. currency fluctuations. Canada M5J 2V5 This release should be read in conjunction with Kinross’ 2013 first quarter Financial Statements and Management’s Discussion and Analysis report at www. Chilean peso. “seek”. constitute ‘‘forward-looking information’’ or ‘‘forward-looking statements’’ within the meaning of certain securities laws. capital expenditures.com.com Investor Relations Contact Tom Elliott Vice-President. development. 6 Kinross reports 2013 first-quarter results www. permitting timelines. environmental risks. ‘‘could’’. which may prove to be incorrect. Corporate Communications phone: 416-365-2726 steve. requirements for additional capital. contained or incorporated by reference in this news release. or any entity in which it now or hereafter directly or indirectly holds an investment. without limitation. or ‘‘should’’. ‘‘would’’. other than statements of historical fact. fuel oil. any information as to the future financial or operating performance of Kinross. or ‘‘believes’’. Securities and Exchange Commission (available at www.elliott@kinross. “intend”. the realization of mineral reserve and mineral resource estimates. “strategy”. electricity and other key supplies being approximately consistent with current levels. employing approximately 9.000 people worldwide. “timeline”. permitting and development of the Fruta del Norte deposit. operates being consistent with its current expectations including. and its continuing ownership by the Company. statements with respect to: possible events. Ghanaian cedi and the U. Mauritania. estimates and projections as of the date of this news release. (7) certain price assumptions for gold and silver. “outlook”. ‘‘scheduled’’. “indicative”. unanticipated reclamation expenses.sedar.mitchell@kinross. Mauritanian ouguiya.kinross. Forward-looking statements include. development and mining activities. Media Contact Steve Mitchell Vice-President. without limitation. “models”. operations and expansion at Paracatu (including. Canada. the implementation of Ecuador’s mining and investment laws (and prospective amendment to these laws) and related regulations and policies. ‘‘forecasts”. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC). “targets”. Chile. costs of production. the future price of gold and silver. The words “anticipates”. The estimates. the estimation of mineral reserves and mineral resources. natural gas.

development and mining. or ‘‘Kinross’’ in this news release. value-added or sales tax. the ‘‘Company’’. there are risks and hazards associated with the business of gold exploration. Other information Where we say ‘‘we’’. capital tax. customs/import or export taxes/duties. industrial accidents. policies and regulations. 7 Kinross reports 2013 first-quarter results www. royalty. or other countries in which Kinross. at Tasiast. the United States. us. and contests over title to properties. James K. Fowler. stamp tax. asset taxes. Chile. or on behalf of. the speculative nature of gold exploration and development including. (15) goodwill and/or asset impairment potential. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada and the United States including. asset transfer tax. There can be no assurance that forward-looking statements will prove to be accurate. but are not limited to: fluctuations in the currency markets. tariffs. the impact of ore tonnage and grade variability reconciliation analysis and. (12) permitting. Brazil. without limitation. or the inability to obtain insurance. Ghana. as may be applicable. and could cause. surcharge. Russia. A $10 per barrel change in the price of oil could result in an approximate $2 impact on production cost of sales per ounce. but not limited to. the security of personnel and assets. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. employee relations. but not limited to. Key Sensitivities Approximately 60%-70% of the Company's costs are denominated in US dollars. operations and expansion at Tasiast and Chirano (including but not limited to. and (16) access to capital markets. taxation (including but not limited to income tax. including but not limited to maintaining an investment grade debt rating and securing partial project financing for the Dvoinoye. diminishing quantities or grades of reserves. capital outflow tax. The impact on royalties of a $100 change in the gold price could result in an approximate $3 impact on cost of sales per ounce. the expansion feasibility study and project optimization. declines in the market valuations of peer group gold producers and the Company. ‘‘us’’. In addition. or depreciating. Many of these uncertainties and contingencies can directly or indirectly affect. do business or may carry on business. penalty. fluctuations in the spot and forward price of gold or certain other commodities (such as diesel fuel and electricity). the cautionary statements made in the ‘‘Risk Factors’’ section of our most recently filed Annual Information Form and full-year 2012 and Q1 2013 Management Discussion and Analysis. flooding and gold bullion losses (and the risk of inadequate insurance. including environmental hazards. or pursued by. development and operations at Dvoinoye (including.com . ‘‘our’’.Kinross Gold Corporation 25 York Street 17th Floor Toronto. operating or technical difficulties in connection with mining or development activities. capital gains tax. our ability to successfully integrate acquisitions and complete divestitures. risks arising from holding derivative instruments (such as credit risk. A 10% change in foreign exchange could result in an approximate $9 impact in production cost of sales per ounce6. securities class actions in Canada and/or the United States. we mean Kinross Gold Corporation and/or one or more or all of its subsidiaries. except to the extent required by applicable law. being consistent with the Company’s current expectations. (11) labour and materials costs increasing on a basis consistent with Kinross’ current expectations. These factors are not intended to represent a complete list of the factors that could affect Kinross. property use or other real estate tax. unusual or unexpected formations. as required. conversion of exploration licences to mining licences) being consistent with Kinross’ current expectations. windfall or windfall profits tax. 6 Refers to all of the currencies in the countries where the Company has mining operations. particularly title to undeveloped properties. or interest imposed in connection with such taxes). p. business opportunities that may be presented to. and the resulting impact on market price to net asset value multiples. Mauritania. pressures. 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. to cover these risks). renewal of the subsoil license) being consistent with Kinross’ expectations. political or economic developments in Canada. Kinross. the risks of obtaining necessary licenses and permits. development. changes in national and local government legislation. commencement of litigation against the Company including. Kinross’ actual results to differ materially from those expressed or implied in any forward-looking statements made by. taking into consideration the impact of hedging and the weighting of each currency within our consolidated cost structure. increases in the discount rates applied to present value net future cash flows based on country-specific real weighted average cost of capital. The technical information about the Company’s material mineral properties contained in this news release has been prepared under the supervision of and verified by Mr. excise tax. Ecuador. an officer of the Company who is a “qualified person” within the meaning of National Instrument 43-101. fluctuating simultaneously by 10% in the same direction. Canada M5J 2V5 but not limited to ore tonnage and ore grade estimates) and any entity in which it now or hereafter directly or indirectly holds an investment. (14) 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’ expectations. ON. Fruta del Norte and the Tasiast expansion projects. withholding tax. controls. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. adverse changes in our credit rating. (13) permitting. as actual results and future events could differ materially from those anticipated in such statements. cave-ins. Such factors include. market liquidity risk and mark-to-market risk). but not limited to. either appreciating. changes in interest rates or gold or silver lease rates that could impact the mark-to-market value of outstanding derivative instruments and ongoing payments/receipts under any interest rate swaps and variable rate debt obligations. together with any related fine. including but not limited to resulting in an impairment charge on goodwill and/or assets.kinross. or entities in which it now or hereafter directly or indirectly holds an interest. advance income tax.

provide investors with an improved ability to evaluate the underlying performance of the Company.as reported Adjusting items: Foreign exchange losses (gains) Non-hedge derivatives gains .15 $ 196.138. 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.net of tax Foreign exchange loss (gain) on translation of tax basis and foreign exchange on deferred income taxes within income tax expense Change in deferred income tax due to a change in statutory corporate income tax rate Taxes in respect of prior years Impairment of investments Net earnings from continuing operations attributable to common shareholders . and in the case of Kupol.Basic Net earnings from continuing operations per share .6 10. The Company believes that these measures.3 1. These measures are not defined under IFRS and should not be considered in isolation.com . 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. Adjusted net earnings attributable to common shareholders and adjusted net earnings per share are non-GAAP measures which determine the performance of the Company. impairment charges.3 96. provide investors with the ability to better evaluate underlying performance.0 5. including the timing of tax payments. These measures are not necessarily standard and therefore may not be comparable to other issuers. and non-hedge derivative gains and losses.6 0.6 (0.6 (7. excluding certain impacts which the Company believes are not reflective of the Company’s underlying performance for the reporting period. Adjusted operating cash flow is defined as cash flow from operations excluding certain impacts which the Company believes are not reflective of the Company’s regular operating cash flow. 17th Floor Toronto. reassessment of prior year taxes and/or taxes otherwise not related to the current period. and excluding changes in working capital.net of tax Gains on sale of other assets .5 3.Adjusted Weighted average number of common shares outstanding .Adjusted $ 160. particularly since the excluded items are typically not included in public guidance. dispositions and other transactions. Management believes that these measures. such as the impact of foreign exchange gains and losses. 2013 2012 Net earnings from continuing operations attributable to common shareholders .5) (10. Working capital can be volatile due to numerous factors. However.5 110. adjusted operating cash flow and adjusted operating cash flow per share measures are not necessarily indicative of net cash flow from operations as determined under IFRS.5 $ 170. 8 Kinross reports 2013 first-quarter results www.17 $ $ The Company makes reference to a non-GAAP measure for adjusted operating cash flow and adjusted operating cash flow per share. Although some of the items are recurring.6) (2. except share and per share amounts) Three months ended March 31. ON Canada M5J 2V5 Reconciliation of non-GAAP financial measures The Company has included certain non-GAAP financial measures in this document.5 1. However.6) 4.1 0. which are used internally to assess performance and in planning and forecasting future operating results. 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.Kinross Gold Corporation 25 York Street. The following table provides a reconciliation of adjusted operating cash flow from continuing operations for the periods presented: p.kinross. a build-up of inventory due to transportation logistics. together with measures determined in accordance with IFRS.1 1. The following table provides a reconciliation of net earnings from continuing operations to adjusted net earnings from continuing operations for the periods presented: GAAP to Adjusted Earnings from Continuing Operations Reconciliation (in millions. gains and losses and other one-time costs related to acquisitions.1) 2.0 $ 99.140. 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.

6 $ 0. Management uses these measures to monitor and evaluate the performance of its operating properties.as reported(1) Less: portion attributable to Chirano non-controlling interest Attributable production cost of sales from continuing operations Gold equivalent ounces sold from continuing operations Less: portion attributable to Chirano non-controlling interest Attributable gold equivalent ounces sold from continuing operations Consolidated production cost of sales from continuing operations per equivalent ounce sold Attributable production cost of sales from continuing operations per equivalent ounce sold $ $ 475. 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.7 411. depletion and amortization and impairment charges. 2013 2012 Net cash flow of continuing operations provided from operating activities .197 (6.kinross.Basic Adjusted operating cash flow from continuing operations per share $ 358.0 (28. 9 Kinross reports 2013 first-quarter results www.5 (1. except share and per share amounts) Three months ended March 31.1 0.252 451. including taxes Adjusted operating cash flow from continuing operations Weighted average number of common shares outstanding . Attributable production cost of sales per ounce sold on a by-product basis is a non-GAAP measure which calculates the Company’s non-gold production as a credit against its per ounce production costs.4) 28.527 $ $ 729 729 $ $ 738 738 (1) "Production cost of sales" is equivalent to "Total cost of sales" per the interim financial statements less depreciation.4) 446.352 (7. rather than converting its non-gold production into gold equivalent ounces and crediting it to total production.3 1.138.945) 645. p.825) 604. Canada M5J 2V5 GAAP to Adjusted Operating Cash Flow from Continuing Operations (in millions. except ounces and production cost of sales per equivalent ounce) 2013 March 31.7) 34. This measure converts the Company’s non-gold production into gold equivalent ounces and credits it to total production.as reported Adjusting items: Close out and early settlement of derivative instruments Working capital changes: Accounts receivable and other assets Inventories Accounts payable and other liabilities.5 53.9 47.36 $ (28.1 $ 380.2) (59. 2012 Production cost of sales from continuing operations .7) 319.6 $ 652. Management believes that this measure provides investors with the ability to better evaluate Kinross’ 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. ON.8 $ 1. This measure converts the Company’s non-gold production into gold equivalent ounces and credits it to total production. as is the case in co-product accounting. Consolidated and Attributable Cost of Sales from Continuing Operations Per Equivalent Ounce Sold Three months ended (in millions.28 $ 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.7 (5.140.com .Kinross Gold Corporation 25 York Street 17th Floor Toronto.6) (60.3 612.7 $ (5.1) 470.

4) (83. plant and equipment . depletion and amortization and impairment charges. ON.1) (61. Management uses this measure internally and believes that it provides investors with the ability to better evaluate the cost of sustaining gold production.352 Attributable production cost of sales from continuing operations net of silver by-product revenue Gold ounces sold from continuing operations Less: portion attributable to Chirano non-controlling interest Attributable gold ounces sold from continuing operations Attributable production cost of sales from continuing operations per ounce sold on a by-product basis $ $ 674 $ 655 (1) "Production cost of sales" is equivalent to "Total cost of sales" per the interim financial statements less depreciation.9 181.as reported Less: portion attributable to Chirano non-controlling interest Less: attributable silver sales from continuing operations (1) $ 475.0 $ 613. 10 Kinross reports 2013 first-quarter results www.3 133.7 $ 451. depletion and amortization and impairment charges.9) 408.180 $ $ 39.4) (83.3 653.3 6.916) 606.7 $ (5.152 (7.kinross. (in millions.038 $ $ (1) "Production cost of sales" is equivalent to "Total cost of sales" per the interim financial statements less depreciation.as reported(1) Less: portion attributable to Chirano non-controlling interest Less: attributable silver sales from continuing operations Attributable production cost of sales from continuing operations net of silver by-product revenue Adjusting items on an attributable basis: General and administrative Exploration and business development . and a portion of other operating costs. sustaining business development and exploration costs. except ounces and production cost of sales per ounce) Three months ended March 31. All-in sustaining cost – attributable is a non-GAAP measure that the Company has defined to include attributable production cost of sales from continuing operations net of silver by-product credits.6 561.7 613.7) 362.attributable Gold ounces sold from continuing operations Less: portion attributable to Chirano non-controlling interest Attributable gold ounces sold from continuing operations Attributable all-in sustaining cost from continuing operations per ounce sold on a by-product basis $ 475. Canada M5J 2V5 The following table provides a reconciliation of attributable production cost of sales per ounce sold on a by-product basis for the periods presented: Attributable Cost of Sales from Continuing Operations Per Ounce Sold on a By-Product Basis (in millions.5 2.9) 408.800) 553. except ounces and production cost of sales per ounce) 2013 2012 Production cost of sales from continuing operations .767 $ 451. general and administrative expenses.7) 362.7 (5.1) (61.sustaining Capitalized interest and exploration All-in Sustaining Cost .683 (6.Kinross Gold Corporation 25 York Street 17th Floor Toronto.4 7.sustaining Additions to property.2 15.916) 606.8 630.152 (7.683 (6.com .800) 553. p. sustaining capital (including related capitalized interest). Attributable All-in Sustaining Cost from Continuing Operations Per Ounce Sold on a By-Product Basis Three months ended March 31.7 55.7 $ (5. 2013 2012 Production cost of sales from continuing operations .7 (5.352 1.5 30.6 39.2 561.sustaining Other operating expense .767 1.

505 (7.634 75.680 $ $ $ Production cost of sales (1) ($ millio ns) 2012 2013 $ 65.610 655.1) 470.887 655.791 234.740 63.153 629.827 78.799 83.4) 446.945) 645.6 43.2 61.8 465.796 39.889 611.9 101. deplet ion and amort izat ion and impairment charges.682 62.8 201.7 110.906 113.062 228.591) 588.735 126.891 53.838 (7.970 104.9 53.6 470.034 38.4 45.3 59.897 648. 11 Kinross reports 2013 first-quarter results www.799 122.242 54.618 37.970 126. (2) On June 28.421 39.757 67.4 40.713) 648.729 55.com .302 40.551 39.2 20.9 475.673 196. t he Company complet ed t he sale of it s 50%int erest in t he Crixás gold mine.3 18.347 37. 201 2.063 223.5 60. Gold equivalent ounces Produced 2013 Fort Knox Round Mountain Kettle River .6 $ $ $ $ 52.949 15.9 31.758 42.735 110.352 17.527 621. ON.381 69.Buckhorn North Am erica Total Kupol (100%) Russia Total Paracatu La Coipa Maricunga South Am erica Total Tasiast Chirano (100%) West Africa Total Continuing operations Discontinued operations (2) Operations Total Less Chirano non-controlling interest (10%) Attributable .197 (6.712 69.543 124.9 45.2 50.kinross.610 (6.870 172.498 119.503 83.092 126.2 105.834 652.197 652.247 2013 118.716 44.252 39.527 43.3 460.028 57.7 89. Canada M5J 2V5 Review of Operations Three m onths ended March 31.251 119.618 149.498 124.897 2012 61. p.7 (5.091 861 880 730 805 729 729 $ $ 861 856 481 755 483 483 954 997 633 863 879 686 752 738 805 739 (1 ) " Product ion cost of sales" is equivalent t o " Tot al cost of sales" per t he int erim f inancial st at ement s less depreciat ion.6 451.237 126.7 475.5 (5.365 43.Kinross Gold Corporation 25 York Street 17th Floor Toronto.7 13.4 43.252 Sold 2012 60.078 612.321 143.2 61.7 35.453 137.358 604.1 $ $ 729 729 $ $ 738 740 $ $ Production cost of sales (1)/oz 2012 2013 558 804 512 597 548 548 831 704 1.252 645.989 206.130 129.825) 604.9 108.Continuing operations Attributable Total 93.3 117.540 595.7 192.061 68.0 37.

2012 January 1.1 14.1 $ 636.com .591.937.9) (97.656.431.978.0 $ 14.9 9.5 89.9) 10.390.443.5 53.9 77.3 14. ON.6 31.882. 2012 $ 1.1 536.0 67.448.8 56.867.6 $ 16.968.116.1 403.344 p.3 304.1 9.8 4.7 2. Canada M5J 2V5 Consolidated balance sheets (unaudited.9 $ 562.249.0 3.9 $ $ $ $ 607.7 727.925.934.1 8.855.1 76.882.278.4 584.1 $ 14.6 $ 1.5 9.1 21. 12 Kinross reports 2013 first-quarter results www.3 40.3 579.6 81.7 961.6 5.8 16.2 75.136.3 79.8 (4.732.082.0 1.470.6 545.1 1.1 9.3 142.1 15.7 49.7 132.664.0 1.7) 12.140.5 46.0 3.8 3.4 10.051.1 666. 2013 Assets Current assets Cash and cash equivalents Restricted cash Short-term investments Accounts receivable and other assets Inventories Unrealized fair value of derivative assets Non-current assets Property.8 1.0 3.132.2 $ 14.712.136.7 $ 14.1) 4.4 8.309.8 280.4 80.9 1.254.1 1.137.4 801.141.443.3 12.2 93.123 Unlimited 1.089 Unlimited 1.5 66.7 765.4 9.6 674.012.420.0 32.6 2.6 2.4 8.6 66.9 Unlim ited 1.692.5 125.2 42.3 11.599. expressed in millions of United States dollars.1 $ 1.4 1. except share amounts) March 31.9 15. plant and equipment Goodw ill Long-term investments Investments in associate and joint ventures Unrealized fair value of derivative assets Deferred charges and other long-term assets Deferred tax assets Total assets Liabilities Current liabilities Accounts payable and accrued liabilities Current tax payable Current portion of long-term debt Current portion of provisions Current portion of unrealized fair value of derivative liabilities Non-current liabilities Long-term debt Provisions Unrealized fair value of derivative liabilities Other long-term liabilities Deferred tax liabilities Total liabilities Equity Common shareholders' equity Common share capital and common share purchase w arrants Contributed surplus Accumulated deficit Accumulated other comprehensive income (loss) Total com m on shareholders' equity Non-controlling interest Total equity Commitments and contingencies Subsequent events Total liabilities and equity Com m on shares Authorized Issued and outstanding As at December 31.4 863.4 (2.632.956.1 349.005.4 4.448.087.2 516.850.Kinross Gold Corporation 25 York Street 17th Floor Toronto.8 537.8 58.7 40.3 654.0 22.382.724.9 (4.9 37.1 233.9 1.9 79.9 3.1 10.kinross.4 720.7 $ 14.7 58.

058. 13 Kinross reports 2013 first-quarter results www.1)                            90.net Earnings from continuing operations after tax Earnings from discontinued operations after tax Net earnings Net earnings (loss) from continuing operations attributable to: Non-controlling interest Common shareholders Net earnings (loss) attributable to: Non-controlling interest Common shareholders $ $ 1. depletion and amortization Total cost of sales Gross profit Other operating expense Exploration and business development General and administrative Operating earnings Other income (expense) .5                            39.5 $ $ (8.5 594.8) 99. expressed in millions of United States dollars.1 162.6 p.09 0.0                               (9.5                                  ‐                               1.09 0.0 (8.9                            11.com .6 160.09 1.net Equity in losses of associate and joint venture Finance income Finance expense Earnings before taxes Income tax expense .9 (72. 2012 $                    1.2 1.9                         (214.7 301.14 0.8                               6.1                         451.5 250.6 $                          475.09 $ $ 0.6 160.6 1.8) 162.9 March 31.005.8 39.Kinross Gold Corporation 25 York Street 17th Floor Toronto.5 $ $ (8.9 (8.14 $ $ 0.7                         142.2 410.1 $ 96.7 $ $ 1. 2013 Revenue Metal sales Cost of sales Production cost of sales Depreciation.14 0.4 354.5                            58.7 703.1 1.5) (0.138.140.5 39.1 $                   1.8) 105.7 24.6) 234.147.7                          227.1 Earnings per share from continuing operations attributable to com m on shareholders Basic Diluted Earnings per share attributable to com m on shareholders Basic Diluted Weighted average num ber of com m on shares outstanding (millions) Basic Diluted $ $ 0.kinross.14 $ $ 0.8) 304.143.9) 2.2                            12. ON. except per share and share amounts) Three m onths ended March 31. Canada M5J 2V5 Consolidated statements of operations (unaudited.

1 433.7 5.8) (3.1) 1.6 (274.6 (487.632.3 349.1 $ 90.724.2) (91.9 0.8 $ (529. 2013 Net inflow (outflow ) of cash related to the follow ing activities: Operating: Net earnings from continuing operations Adjustments to reconcile net earnings from continuing operations to net cash provided from (used in) operating activities: Depreciation.9 1.Kinross Gold Corporation 25 York Street 17th Floor Toronto.4 97.1 10. 14 Kinross reports 2013 first-quarter results www.1) 28.420.9 127.7) (117.9 0. depletion and amortization Gains on sale of other assets .8 2.4 (20.5) 1.1 142. March 31.9) 28.8) 0.5 5.4 28.8) 28.5) (91.450.2) 1.1) (0.net Settlement of derivative instruments Share-based compensation expense Accretion expense Deferred tax (recovery) expense Foreign exchange (gains) losses and other Changes in operating assets and liabilities: Accounts receivable and other assets Inventories Accounts payable and accrued liabilities Cash flow provided from operating activities Income taxes paid Net cash flow of continuing operations provided from operating activities Investing: Additions to property.5) 1.5) 380. expressed in millions of United States dollars) Three m onths ended March 31. ON.3) 0.2) (2.7 (0.7 $ 162.7 1.6) 358.2 118.2) (28.com .4 9.kinross.1 0.7) 1.9 (0.4 (151.4 (16.1 438.5 (10.8 1.2 (12.2 8.9) 1.8) (24.3) (578.0 p. beginning of period Cash and cash equivalents.7 (34.5) 2.3) (539.7 (75. end of period $ (317.5 (58.8 2012 227. Canada M5J 2V5 Consolidated statements of cash flows (unaudited. plant and equipment Net proceeds from the sale of long-term investments and other assets Additions to long-term investments and other assets Net proceeds from the sale of property.net Equity in losses of associate and joint venture Non-hedge derivative gains .7) (211. plant and equipment Disposals of short-term investments Decrease in restricted cash Interest received Other Net cash flow of continuing operations provided from (used in) investing activities Financing: Issuance of common shares on exercise of options and w arrants Proceeds from issuance of debt Repayment of debt Interest paid Dividends paid to common shareholders Other Net cash flow of continuing operations used in financing activities Effect of exchange rate changes on cash and cash equivalents of continuing operations Decrease in cash and cash equivalents Cash and cash equivalents.0) (1.

9 7 1 1 5.30 0. Q4 (2012) 1 55.3 5.4 17 77.296 40.1 39.61 8 5 3 . Q2 2012: 54.045 46.72 0.4 16 . 87% Includes Kinross' share of Chirano at 90% .4 1 09.3 8 1 44.376 5.2 20. 15 Kinross reports 2013 first-quarter results www. 58% .2 1 4. The rat ios f or t he quart ers present ed are as f ollows: Q1 201 3: 54.049 40.7 38.0 44.04 g/ t .31 1 1 .421 1 .8 8 1 .906 6 0 .49 g/ t .978 78.5 52.5 20.8 56.2 37.01 9 6 .9 4 5 .4 1 24.70 2.kinross. 85% .70 2.426 ($ millio ns) 4 9 .544 1 3.89 1 2. recovery rat es at M aricunga cannot be accurat ely measured on a quart erly basis.5 43.9 54.1 72 71 .704 5.237 52.7 37.71 6 3 9 .9 41 .5 36.9 14 .5 2 5 . Q4 (201 2) 49.2 34.31 0 - (%) 84% 84% 84% 85% 84% 75% 70% 71 % 74% 78% 92% 93% 94% 92% 90% 93% 93% 94% 93% 93% 75% 75% 70% 74% 72% 84% 86% 79% 77% 78% nm nm nm nm nm 9 1% 91 % 92% 86% 89% 93% 94% 93% 92% 93% 93% 94% 93% 92% 93% (o unces) 118 .4 6.2 74.65 0.9 5 0 .59 0.952 62.0 1 8.72 0.6 40.530 1 2.7 3 3.76 0 .1 47 44.67 2.60 - R e c o v e ry ( 2) G o ld E q P ro duc t io n (o unces) G o ld E q S a le s ( 7) ( 7) P ro duc t io n co sts o f s a le s ( 8 ) ($ millio ns) $ 6 5 .298 896 585 21 0 4 .4 6 8 3.64 0.3 1 5.5 33.241 936 867 1 .063 6 8 .44 g/ t .2 1 8.7 2 9 63.752 4.51 0.3 1 3.8 7 1 .240 91 1 01 81 93 1 1 1 338 337 302 320 301 13 .8 1 2. Round M ount ain and Tasiast represent mill recovery only.1 1 8 3.0 3.354 39.1 1 8.087 1 .551 3 9 .985 42.971 60.329 990 1 .467 639 659 643 656 595 8 16 879 846 802 854 8 16 879 846 802 854 3 .4 23.71 2 .636 1 .9 5.2 1 G ra de (H eap Le a c h) (g/t) 0 .40 0.38 0.585 36.6 1 9. La Coipa silver grade and recovery were as f ollows: Q1 (201 3) 35.71 2 5 4 .1 53.23 1 1 .252 1 .2 5 2 1 1 9.01 6 1 .3 37. Kupol silver grade and recovery were as f ollows: Q1 (201 3) 1 28. Q4 201 2: 52.698 71 . Q3 (201 2) 55.1 21 .4 5 3 87.5 35.91 13 .2 4.27 2.386 1 2.046 45.8 6 1 3.9 50.574 6 .5 7 0.242 44.9 5.53 g/ t .1 46. ON Canada M5J 2V5 Operating Sum m ary M ine P e rio d (%) Q 1 2 0 13 Q4 201 2 F o rt Kno x Q3 201 2 Q2 201 2 Q1201 2 Q 1 2 0 13 Q4 201 2 R o und M o unt a in Q3 201 2 Q2 201 2 Q1201 2 Q 1 2 0 13 Q4 201 2 Ke t t le R iv e r Q3 201 2 Q2 201 2 Q1201 2 Q 1 2 0 13 Q4 201 2 Kupo l ( 4) ( 5) O wne rs hip T o nne s O re M ine d ( 1) O re O re P ro c e s s e d P ro c e s s e d (H eap ( M ille d) ( 1 ) Le a c h) ( 1 ) G ra de ( M ill) (g/t) 0 .637 5.66 0 .367 69.4 25.30 0.82 0.1 9:1.2 1 05.68 g/ t .47 0.2 4 2 58.0 67.8 45.548 43.978 60.839 57.0 9 1 927 873 725 633 880 1 .5 1 8.8 3 3 .6 1.46 0 .7 20.2 45.0 3 1.873 9.5 7 1 1 .4 7.842 49.6 1 90.7 9 1 61 .5 73.4 7 4 3.9 14 .3 5 0.58 g/ t .0 2 8 1 37.31 1 .2 51 .3 260.887 4.070 67.632 91 5 6 .325 43.01 6 1 .5 39.389 1 1 0.74 1 .97 Q3 201 2 Q2 201 2 Q1201 2 Q 1 2 0 13 Q4 201 2 Q3 201 2 Q2 201 2 Q1201 2 Q 1 2 0 13 Q4 201 2 P a ra c a t u La C o ipa ( 3) Q3 201 2 Q2 201 2 Q1201 2 Q 1 2 0 13 Q4 201 2 M a ric unga Q3 201 2 Q2 201 2 Q1201 2 Q 1 2 0 13 Q4 201 2 T a s ia s t Q3 201 2 Q2 201 2 Q1201 2 Q 1 2 0 13 Q4 201 2 C hira no .33 0.240 30.0 6 2 64.3 43. Q3 (2012) 1 63.52 1 2.91 0 1.2 5 0.3 3 3 .1 86 6.0 21 .4 1 5.97 2 .44 0.2 61 . Q2 (201 2) 1 87.923 1 00.71 6 1 26.5 59.7 61 .4 0 0 1 .534 1 04.4 24.1 49 2 .39 0.07 0.9 62.59 0.807 37.7 1 .0 43.8 7 0 33.4 37.1 4 .0 2 8 .36 0 .988 1 2.9 34.2 44.6 32.3 8 0.970 119 .8 9 4 3.35 0 . Q2 (201 2) 42.452 3.371 53.6 10 0 1 00 1 00 1 00 1 00 50 50 50 50 50 10 0 1 00 1 00 1 00 1 00 10 0 1 00 1 00 1 00 1 00 10 0 1 00 1 00 1 00 1 00 10 0 1 00 1 00 1 00 1 00 10 0 1 00 1 00 1 00 1 00 10 0 1 00 1 00 1 00 1 00 90 90 90 90 90 90 90 90 90 90 9 3 .205 53.256 1 .2 1 4.9 21 .45 g/ t .740 5 5 .4 61 .7 25.6 5 9 .0 3 4 1 00.3 1 8.6 30.805 7.937 1 1 8.942 35.2 32.937 3.31 5 1 3.1 1 3 37.297 1 . product ion and cost s are t o Kinross' account .7 6 0 .002 536 6.3 7 0.4 1 9. 45% .4 5 2 5.7 9 6 41 .1 1 4 1 1 1 .6 22.5 2 9 .2 4.061 670 961 879 730 698 736 780 686 730 698 736 780 686 $ C ap Ex D D &A ('000 to nnes) ('000 to nnes) ('000 to nnes) 7 .6 15 5 .533 1 49.51 0.599 63.55 1 .7 1 1 .68 0.21 4 1 26.41 9 1 04.31 1 1 .252 1 .1 51 997 1.9 43.6 4 0.77:1.4 4.759 1 64.Kinross Gold Corporation 25 York Street.65 0.5 20.400 48.6 291 .8 64.463 60.758 3 9 . 46% The Kupol segment includes t he Kupol and Dvoinoye mines.820 5. Recovery rat es at Fort Knox.0 76.5 0 8 78.2 48.9 7 1 .7 81 .2 44.698 62.4 20. Due t o t he nat ure of heap leach operat ions.2 0.15 4 3.429 41 .8 92.6 3 6 .23 1 1 .67 2. " Product ion cost of sales" is equivalent t o " Tot al cost of sales" per t he int erim f inancial st at ement s less depreciat ion.4 40.0 0 5 1 .558 1 1 8.2 10 1.791 1 3.6 55.8 16 . Q3 201 2: 55.2 6.0 1 08.38 0.935 42.051 51 .61 8 12 4 .326 3. Gold equivalent ounces include silver ounces produced and sold convert ed t o a gold equivalent based on t he rat io of t he average spot market prices f or t he commodit ies f or each period.568 46.4 2 1 41 .1 31 .01 4 4 .9 1 3.3 23.989 6 2 .03 0.808 3.273 3.9 20.96 1 5.238 3.660 75.1 49 1.81 8 61 .3 1 5.477 1 .7 9 9 1 30.5 6.728 56.952 61 .1 1 5 5.1 32.3 P ro duc t io n co st o f s a le s ( 8 ) / o z ($ /o unce) $ 558 493 648 757 861 804 788 605 662 856 5 12 463 470 508 481 548 474 466 467 483 831 798 877 91 4 954 704 733 1 .8 9 1 1 32.55:1.724 69.755 3.0 6 8 1 3.3 3 2 .5 8.535 1 55.522 6.864 5.783 1.1 29. 85% .827 6 9 .6 2 6 .3 2 0 .692 1 3.6 1.76 0.336 1 2.2 47.294 68.025 1 56.81 10 .487 4. p.8 1 3.9 24.680 70.9 49.10 0 % Q3 201 2 Q2 201 2 Q1201 2 Q 1 2 0 13 Q4 201 2 C hira no ( 6) Q3 201 2 Q2 201 2 Q1201 2 (1) (2) (3) (4) (5) (6) (7) (8) Ore processed is t o 1 00% .43 0.27 2.7 4 5 .7 3 3.44:1.com .735 12 2 .1 41 .365 3 8 .13 0 86.3 ($ millio ns) $ 2 7 .634 6 7 .34 1 2.4 9 8 1 46.7 5 7 46.0 1 9.61 g/ t . 17th Floor Toronto.527 5 7 . 85% .026 922 81 0 12 1 87 95 1 1 1 1 1 2 328 329 332 329 309 14 .6 8.3 49.46 0 .8 3 0 .841 63.8 26.3 0.7 35. deplet ion and amort izat ion and impairment charges. 50% .16 4 9.8 10 .4 4 0 .9 1 4.321 8 3 .998 5.582 1 06.8 1 4.7 1 8.251 6 2 .220 53.0 0 5 1 .6 33.6 35.3 6 1 7.681 1 .56 1.6 7 3 33.433 43.3 9.