Kinross announces senior management changes

Company appoints new CEO

TORONTO, July 29 12, 2022 (GLOBE NEWSWIRE) — Kinross Gold Corporation (TSX:K; NYSE:KGC) (“Kinross” or the “Company”) today announced the appointment of Claude Schimper as Executive Vice President and Chief , effective immediately. Paul Tomory, Executive Vice President and Chief Technical Officer, will be leaving the Company on August 31, 2022 to pursue new opportunities.

In his new role, Mr. Schimper will be responsible for the operational success of the company’s recently repositioned portfolio, with approximately 70% of Kinross’ production now based outside of the Americas.

Mr. Schimper has over 30 years of experience in the mining industry and first joined Kinross in 2010, serving in increasingly senior operational roles within the company, most recently as Executive Vice President , Operations with the supervision of the regions of Russia and West Africa. He also served as Vice President and General Manager of Kupol before assuming leadership of the company’s Russian region in 2014. Prior to Kinross, Mr. Schimper was the Chief Operating Officer of Balkan Resources Inc. and also held jobs at Placer Dome, Canada. , and several South African mines, including AngloGold Ashanti’s Mponeng gold mine. Mr. Schimper received a South African Higher National Diploma in Metalliferous Mining from the Technikon Witwatersrand in Johannesburg, South Africa.

“With this new appointment, Claude will take charge of our repositioned portfolio and place greater emphasis on our operational commitments while continuing to prioritize safety. He is an industry veteran whose considerable experience and knowledge will be invaluable as we seek to further optimize our operations to ensure we safely achieve our goals,” said J. Paul Rollinson, President and CEO. of management. “On behalf of our employees and Board of Directors, I would like to thank Paul Tomory for his leadership and many significant contributions to Kinross, from the successful completion of the Tasiast Phase 1 expansion to the development of our project pipeline. milestones, and I wish him success in his future endeavours.

Ned Jalil will assume an expanded role as Senior Vice President, Technical Services, to lead Kinross’ Technical Services function, reporting directly to Paul Rollinson. He will oversee project development, exploration, geology, mine planning, operations strategy and supply chain functions, bringing to his role his technical expertise and more than 25 years of international leadership and leadership. experience in strategic operations and engineering. Mr. Jalil joined Kinross in January 2022, having held various leadership positions including leading strategic planning and technical services for the company’s Tier 1 Paracatu mine and successfully delivering the process optimization initiative. site assets. Most recently, he served as Chief Operating Officer at Atlantic Nickel and Mineração Vale Verde, where he oversaw the Santa Rita Nickel Mine and the Serrote Copper Project.

“These new appointments will strengthen oversight of our operations, projects and technical services groups as we optimize our repositioned portfolio and pursue our growth strategy,” said Rollinson. “As the operational technical strength and expertise of our management team increases, we will prioritize thoughtful and balanced planning to consistently deliver on our commitments. These commitments include an expected increase in production next year and an average production of two million ounces of gold per year for the remainder of the decade.

About Kinross Gold Corporation

Kinross is a leading global gold mining company based in Canada with operations and projects in the United States, Brazil, Mauritania, Chile, Ghana and Canada. Our focus on value creation is based on our fundamental principles of responsible mining, operational excellence, disciplined growth and balance sheet strength. Kinross is listed on the Toronto Stock Exchange (symbol: K) and the New York Stock Exchange (symbol: KGC).

Media Contact

Louie Diaz
vice presidentBusiness communication
phone: 416-369-6469
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Investor Relations

Chris Lichtenheldt
Vice President, Investor Relations
phone: 416-365-2761
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Caution regarding forward-looking information

All statements, other than statements of historical fact, contained or incorporated by reference or made in this presentation, including, but not limited to, any information as to the future performance of Kinross, constitute “forward-looking statements” meaning of applicable securities laws. , including the provisions of the
Securities Act (Ontario)
and the “safe harbour” provisions 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 in this presentation include, but are not limited to, statements regarding guidance for production and project development. Forward-looking statements are necessarily based on a number of estimates and assumptions which, although believed to be reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic, legislative and competitive risks, as well as only to uncertainties and contingencies. Many of these risks, uncertainties and contingencies may affect, and could cause Kinross’ actual results to differ materially from those expressed or implied by any forward-looking statements made by, or on behalf of, Kinross. Such
risks and uncertainties include, but are not limited to: operational or technical difficulties related to development, mining or processing activities; volatility in gold and silver prices; the uncertainty of mineral reserve and mineral resource estimates; the speculative nature of gold exploration and development, including, but not limited to, the risks of obtaining necessary licenses and permits; exchange rate fluctuations; and risks associated with operating in foreign jurisdictions, including government relations risks.
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 forward-looking statements made in this presentation are qualified by these cautionary statements and those made in our filings with securities regulatory authorities in Canada and the United States, including, but not limited to, cautionary statements made in the “Risk Factors” section of our most recently filed Annual Information Form, the “Risk Analysis” section of our Fiscal 2021 MD&A and the “Cautionary Statement Concerning Forward-Looking Information” in our press release dated July 27, 2022, to which readers are referred and which are incorporated by reference into this presentation, all of which qualify
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looking at the statements made in this presentation. These factors are not intended to represent a complete list of factors that could affect Kinross. Kinross disclaims any intention or obligation to update or revise any
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forward-looking statements or to explain any material differences between subsequent actual events and those
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forward-looking statements, except to the extent required by applicable law.

Source: Kinross Gold Corp.
oration

Source: Kinross Gold Corporation