Lou Naumovski, Vice President and General Director, Moscow Representative Office

CERBA International Mining ConferenceToronto, March 8, 2010

Kinross Gold Corporation in Russia

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Cautionary statement on forward-looking informationAll statements, other than statements of historical fact, contained or incorporated by reference in this presentation, including any information as to the future financial or operating performance of Kinross, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, 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, unless otherwise stated, based on expectations, estimates and projections as of the date of this presentation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that while that, considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. 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.The forward-looking information set forth in this presentation is subject to various risks and other factors which could cause actually results to materially differ from those expressed or implied in the forward-looking information. The forward-looking information also reflects various estimates and assumptions of Kinross management. These risks, factors, estimates and assumptions are described in more detail in Kinross’ most recently filed Annual Information Form in the section entitled “Risk Factors”, the “Risk Analysis” section of our most recently filed Management’s Discussion and the “Cautionary Statement on Forward-Looking Information” in our news release dated May 5, 2009, to which readers are referred and which are incorporated by reference in this presentation. In addition, all forward-looking statements madein this presentation are qualified by the full “Cautionary Statement on Forward-Looking Information” in such news release. Kinross disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Other informationWhere 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 material mineral properties contained in this presentation has been prepared under the supervision of Mr. Rob Henderson, an officer of the Company who is a “qualified person” within the meaning of National Instrument 43-101.For more information on the Company’s Mineral Reserves and Mineral Resources described in this presentation, we refer the reader to Kinross’ Mineral Reserve and Mineral Resource Statement at December 31, 2009, contained in our news release dated January 28, 2010, which is available on our website at www.kinross.com. For historical Mineral Reserve and Mineral Resource information, refer to Kinross’

public filings, available on our website.

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Agenda: Kinross Portfolio and Russian Experience• Chukotka as an Investment Destination• Foreign Investors Perception of Russian Mining

Environment

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• Kinross Portfolio and Russian Experience

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Kinross Profile

Kinross Today:

• Portfolio of 8 operating mines

• Policy of no gold hedging

• Pure gold/silver producer

• 2009e: 2.23 mm oz Au(1)

• Low cost of sales

• No base metal credits

• Market cap of ~US$12 bln.

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(1) As per revised guidance released January 14, 2010.(2) Cost of sales per gold equivalent ounce.(3) Attributable Russian production includes 75% of Kupol.

- Producing Mine- Development Project

Legend:

Country

2010e Production

Cost of Sales/oz. (2)

Number of Mines

Estimated Mine LifeOunces

(000s)

% of 2010e total

Chile 460 – 480 21% $500 – 520 2 16+

Brazil 510 – 580 24% $490 – 555 2 30+

Russia(3) 495 – 525 23% $340 – 365 1 8+

USA 690 – 745 32% $480 – 520 3 7+

Total Kinross(2):

Approx. 2.2 mm oz. $460 – 490 8 20+

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Balanced Portfolio & Growing Production

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.(1) Please refer to endnote #1.(2) Please refer to endnote #2.

Production (mm oz) (1)

2009e(3)2007 2008

1.81.6

2.2

Chile 48%

Brazil 35%

Russia 5%

USA12%

USA 5%

2P Reserves(4)

51 mm oz.M&I Resources(4)

16.6 mm oz.Inferred Resources(4)

16.2 mm oz.

Brazil 18%

Chile 31%

Ecuador 35%

USA 16%

Chile 39%

Ecuador 38%

Brazil 10%

Russia 8%

Cost of Sales ($/oz.)(2)

2009e(2)2007 2008

$421

$368

$435 - $450

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Chukotka Autonomous Okrug (overview)

• Capital: Anadyr (founded in 1889)

• 6 Administrative regions

• Total population: 49.5 thousand (66.4% - urban, 33.6% – rural)

• Total area: 737.7 thousand sq.km. (7th largest region in Russia)

• Distance from Moscow: 6 400 km.

• Time difference with Moscow: + 9 hours.

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Chukotka Autonomous Okrug (overview)

• Regional Industry:

- Mining (gold, coal, oil&gas, non-ferrous metals)

- Agricultural sector (reindeer breeding, poultry) and fishery

• Regional transport:

- Mainly by air and sea

- Winter roads

• Energy infrastructure:

- Nuclear power plant

- Hydroelectric power plant

- Central Heating power plants

- Power line network: 2084 km.

Gross Regional Product (2008)

Other11% Mining

22%

Energy23%

Healthcare5%

Education4%

Public administration

15%

Transport & Communication

5%Trade

5%Construction

10%

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Kupol Mine Details

Operating

Results

Production (Au eq. oz.)

Cost of Sales($/oz.)

2008 626,543 $220

2009e(1) 920,000e $265-290e

Reserves as of January 1, 2010 (5)

Operating Results (100% basis)

Gold Silver

Reserves (t’s) 109,8 1371

Grade (g/t) 19,2 239,6

(3) Please refer to endnote #1.

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Benefits of Increased Investment in 2009

KINROSS GOLD/CMGC provides:

• 30 % of the Chukotka Regional Budget;

• 800 mln. RUR – additional revenue as dividends;

• Employment of 1150 people (+ approx. 300 contractors);

• Partnership with approx. 50 Chukotka-based enterprises and

entrepreneurs;

• Chukotka region – ranks 2nd after Krasnoyarsk region in terms of the

total gold output (10th place in 2007);

• Regional gold output has increased by 55,3% (1st in terms of growth

rate).

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Responsible mining

• November, 2009 – Kupol is the first mine in the world to certify its

transportation group under the International Cyanide Management

Code (ICMI) for the Manufacture, Transport and Use of Cyanide in

the Production of Gold.

• December, 2009 – Kupol is the first mine in Russia to obtain full

certification under the ICMI.

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Kupol Development Programs• Cooperation agreement with Indigenous

Peoples Association • We look to the Association to help us identify

ways to effectively realize project benefits for indigenous peoples

• Creation of “Kupol Foundation”• A steering committee of local stakeholders will

review all funding requests and select projects to sponsor

• Foundation registered in May 2009

• Department of Education license for on-site professional training

• This accreditation means employees who complete on-site training will receive certificates recognized anywhere in Russia

• More than 450 employees accomplished on-site training courses since June 2008

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Why Kinross Invests in Russia? The answers are quite simple:

• We are in Russia because there is gold in Russia.

• We are in Russia because we know we can do business in

Russia.

• We are in Russia because we have good partners here.

• We are in Russia because in cooperation with our partners we

can generate value and economic benefits.

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Dvoinoye and Vodorazdelnaya (6)

• In January 2010 Kinross agreed to acquire the high-grade

Dvoinoye deposit and the Vodorazdelnaya property in the

Chukotka region.

• Potential mineral deposit of apprx. 3.5 – 3.9 mln. tonnes.

• Potential average grade of gold: 17 – 19 g/t.

• Leverage of existing Kupol mine processing facilities.

• Additional opportunities for exploration on the

Vodorazdelnaya property (922 sq.km.).

• The transaction is subject to certain conditions, including

approval by the Russian Government.

• Foreign Investor Perception of Russian Mining Environment

16Source: The Fraser Institute

Ran

k

6265

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Year2005-20062006-20072007-20082008-200950

6260

1

28

5860

5360

30

59

1

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• Responses from up to 658 companies• Includes data on up to 71 jurisdictions

Attractiveness of Russia’s Mining Sector for Foreign Investors

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How to Challenge the Perception:Opportunities for Improvement

• Russia’s sovereign right to determine its own regime for protecting its mineral rights is indisputable.

• Russia is in competition for investment in mining; and may need to balance its national interests with the need to attract foreign investment in exploration and mining activities.

• There are ways in which Russia can clarify and improve current regulations, while retaining the Government’s oversight and final authority to approve foreign investment in the minerals sector, such as:

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How to Challenge the Perception:Opportunities for Improvement (con’t)

Better incentives to explore and invest:

• Instead of limited compensation paid when denying a foreign investor’s application to develop a strategic deposit, Gov’t could allow the strategic field to be sold at market price, or prove sufficient time for investor to attract a majority Russian shareholder.

• Establish early application mechanism for the Russian Government’s approval of special projects – where a foreign investor seeks to acquire a company or entity that holds a license in respect of a field that is, most probably, strategic.

• A potential re-examination of the “strategic” threshold in gold deposits.

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Encouraging Foreign Investment in Mining

Other potential measures may include:

• Speeding up review process of applications (FAS is already considering measures on how to do this).

• Improve auction system.

• Simplify and improve government administration of subsoil use, including giving a single agency decision-making powers in the field of subsoil use.

• Encourage “junior” mining.

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Endnotes(1) For more information regarding Kinross’ preliminary operating results for 2009 and production and cost outlook for 2010, please refer to the press

release dated January 14, 2010, available on our website at www.kinross.com.(2) For more information regarding Kinross’ reserves and resources please refer to the press release dated January 28, 2010, available on our website at

www.kinross.com.(3) Unless otherwise stated, production and cost of sales figures in this presentation are based on Kinross’ share of Kupol production (75%).(4) Please refer to Kinross’ Mineral Reserve and Resource Statement at December 31, 2009, contained in our press released dated January 28, 2010,

which is available on our website at www.kinross.com. For historical reserve and resource information, refer to Kinross’ public filings, available on our website.

(5) GKZ figures for Kupol reserves and grades are calculated in accordance with applicable Russian standards solely for Russian regulatory purposes. GKZ figures are not compliant with National Instrument 43-101 (NI 43-101) and differ from Kinross’ publicly disclosed NI 43-101 compliant Mineral Reserves and Mineral Resources. For Kinross’ NI 43-101 compliant Mineral Reserve and Mineral Resource Statements as at December 31, 2009, please refer to our press release dated January 28, 2010 and available on our website at www.kinross.com.  For our historical Mineral Reserve and Mineral Resource information, refer to Kinross’ public filings, available on our website.

(6) For full transaction details, please refer to the news release dated January 20, 2010, available on our website at www.kinross.com

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