4 April 2003 TECHNICAL REPORT REVIEW OF MUSSELWHITE MINE OPERATIONS ONTARIO PREPARED FOR: KINROSS GOLD CORPORATION BY: STEVEN BLOWER,P.GEO. JOHN KIERNAN,P.ENG. U961A IMPORTANT NOTICE This report was prepared exclusively for Kinross Gold Corporation (Kinross) by AMEC E&C Services Limited (AMEC). The quality of information, conclusions and estimates contained herein is consistent with the level of effort involved in AMEC’s services and based on: i) information available at the time of preparation, ii) data supplied by outside sources and iii) the assumptions, conditions and qualifications set forth in this report. This report is intended to be used by Kinross only, subject to the terms and conditions of its contract with AMEC. Any other use of, or reliance on, this report by any third party is at that party’s sole risk. CERTIFICATE OF AUTHOR John Kiernan, P.Eng 111 Dunsmuir Street, Suite 400 Vancouver, BC Tel: (604) 664-4124 Fax: (604) 664-3057 [email protected] I, John Kiernan, P.Eng., am a Professional Engineer, employed as a Senior Mining Engineer with AMEC E&C Services Limited (AMEC), residing at 738 Broughton Street in Vancouver, British Columbia. I am a member of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) and Professional Engineers Ontario (PEO). I graduated from Queen’s University with a Bachelor of Science (Honours) degree in Mining Engineering in 1986 and I have practiced my profession continuously since 1987. Since 1987 I have been involved in mine operations, engineering design, financial analysis, project development, and consulting for nickel, copper, lead, zinc, gold, PGMs, and industrial minerals in Canada, United States, Greenland, Greece, Russia, China, and Central and South America. As a result of my experience and qualification, I am a Qualified Person as defined in NI 43-101. I am currently a Consulting Engineer and have been so since July 1995. From 18 March 2003 until 21 March 2003 I visited the Musselwhite Mine in Ontario, Canada for the purposes of reviewing pertinent geological, mining and metallurgical information. This report was prepared under my direct supervision in consultation with technical specialists, who are Qualified Persons in the fields of geology and metallurgy. Pierre Lacombe, Eng., a Principal Process Engineer at AMEC and member of OIQ (l’Ordre des ingénieures du Québec), was responsible for the metallurgical review. Mr. Lacombe has a B. Eng. Mining Engineering (Mineral Processing Option) from École Polytechnique, QC, Canada, 1984, and has been practising continuously since 1984. I am not aware of any material fact or material change with respect to the subject matter of this technical report that is not reflected in this report and that the omission to disclose would make this report misleading. AMEC E&C Services Limited 111 Dunsmuir Street, Suite 400 Vancouver, B.C. V6B 5W3 Tel +1 604 664 3471 Fax +1 604 664 3041 www.amec.com CERTIFICATE OF AUTHOR Steven J. Blower, P.Geo. 111 Dunsmuir Street, Suite 400 Vancouver, BC Tel: (604) 664-4116 Fax: (604) 664-3057 [email protected] I, Steven J. Blower, P.Geo., am a Professional Geoscientist, employed as a Senior Geologist with AMEC E&C Services Limited in Vancouver, British Columbia. I am a member of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC). I graduated from the University of British Columbia with a Bachelor of Science degree in geology in 1988 and subsequently obtained a Master of Science degree in geology from Queen’s University in 1993. I have practiced my profession continuously since 1988 and have been involved in: (1) mineral exploration for copper, zinc, gold, and silver in Canada, (2) mine geology (including ore control and resource modelling) for copper and copper/gold deposits in Canada, and (3) geological consulting on mine geology and resource modelling issues for copper, zinc, gold, and silver properties in Canada, United States, Argentina, Chile, Peru, Philippines, Africa, and Brazil. As a result of my experience and qualifications, I am a Qualified Person as defined in NI 43- 101. I am currently a Consulting Geologist and have been so since October 2000. From 18 March 2003 until 21 March 2003 I visited the Musselwhite Mine in Ontario, Canada, as part of a two-person team for the purpose of reviewing pertinent geological and engineering data in sufficient detail to independently support the Mineral Resource and Reserve reported at Musselwhite. I am not aware of any material fact or material change with respect to the subject matter of this technical report that is not reflected in this report and that the omission to disclose would make this report misleading. AMEC E&C Services Limited 111 Dunsmuir Street, Suite 400 Vancouver, B.C. V6B 5W3 Tel +1 604 664 3471 Fax +1 604 664 3041 www.amec.com Technical Report M USSELWHITE M INE CONTENTS 1.0 SUMMARY .............................................................................................................................1-1 2.0 INTRODUCTION & TERMS OF REFERENCE......................................................................2-1 2.1 Terms of Reference ......................................................................................................2-1 3.0 DISCLAIMER..........................................................................................................................3-1 4.0 PROPERTY DESCRIPTION AND LOCATION ......................................................................4-1 5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, AND PHYSIOGRAPHY...................................................................................................................5-1 5.1 Physiography ................................................................................................................5-1 5.2 Climate..........................................................................................................................5-1 5.3 Local Resources ...........................................................................................................5-1 5.4 Access ..........................................................................................................................5-2 5.5 Project Infrastructure ....................................................................................................5-2 6.0 HISTORY................................................................................................................................6-1 7.0 GEOLOGICAL SETTING .......................................................................................................7-1 7.1 Regional Geology .........................................................................................................7-1 7.2 Property-Scale Lithology and Stratigraphy ...................................................................7-5 7.3 Mine Scale Lithological and Stratigraphic Relations ....................................................7-7 8.0 DEPOSIT TYPES ...................................................................................................................8-1 9.0 MINERALIZATION .................................................................................................................9-1 9.1 Styles of Gold Mineralization ........................................................................................9-1 9.2 Geological Controls on Gold Mineralization .................................................................9-2 9.3 Detailed Mineralized Zone Descriptions .......................................................................9-4 10.0 EXPLORATION ....................................................................................................................10-1 10.1 Recent Exploration .....................................................................................................10-1 10.2 Future Exploration ......................................................................................................10-1 11.0 DRILLING .............................................................................................................................11-1 12.0 SAMPLING METHOD AND APPROACH ............................................................................12-1 13.0 SAMPLING PREPARATION, ANALYSIS, AND SECURITY ...............................................13-1 14.0 DATA VERIFICATION..........................................................................................................14-1 15.0 ADJACENT PROPERTIES ..................................................................................................15-1 16.0 MINERAL PROCESSING AND METALLURGICAL TESTING ............................................16-1 16.1 Mill Flowsheet .............................................................................................................16-1 16.2 Planned Flowsheet Developments .............................................................................16-1 16.3 Water Treatment.........................................................................................................16-2 16.4 Tailings Disposal.........................................................................................................16-3 16.5 Gold Recovery ............................................................................................................16-3 16.6 Ore Processing Capital and Operating Cost Estimates .............................................16-4 March 2003 TOC i Technical Report M USSELWHITE