Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report Prepared for: Kinross Gold Corporation Prepared by: John Sims, AIPG Certified Professional Geologist Effective Date: June 11, 2018 Kinross Gold Corporation Fort Knox Mine Fairbanks North Star Borough, Alaska, USA NI 43-101 Technical Report CONTENTS CONTENTS .................................................................................................................................................... I TABLES ........................................................................................................................................................ III FIGURES ..................................................................................................................................................... IV 1 SUMMARY ....................................................................................................................................... 1 1.1 Executive Summary ............................................................................................................. 1 1.2 Technical Summary ............................................................................................................. 1 2 INTRODUCTION ............................................................................................................................ 12 2.1 Qualified Persons .............................................................................................................. 13 2.2 Information Sources .......................................................................................................... 1 4 2.3 Effective Dates .................................................................................................................. 14 2.4 List of Abbreviations .......................................................................................................... 15 3 RELIANCE ON OTHER EXPERTS ................................................................................................ 16 4 PROPERTY DESCRIPTION AND LOCATION .............................................................................. 17 4.1 Location and Overview ...................................................................................................... 17 4.2 Mineral Tenure and Rights ................................................................................................ 17 4.3 Other Private Lands ........................................................................................................... 21 4.4 Royalties and Other Encumbrances .................................................................................. 21 4.5 Permitting........................................................................................................................... 22 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ........................................................................................................................... 23 5.1 Accessibility, Local Resources, and Infrastructure ............................................................ 23 5.2 Climate ............................................................................................................................... 24 5.3 Physiography ..................................................................................................................... 24 6 HISTORY ........................................................................................................................................ 25 6.1 Prior Ownership ................................................................................................................. 25 6.2 Exploration and Development History ............................................................................... 25 6.3 Past Production ................................................................................................................. 27 7 GEOLOGICAL SETTING AND MINERALIZATION ....................................................................... 29 7.1 Regional Geology .............................................................................................................. 29 7.2 Local Geology .................................................................................................................... 31 7.3 Fort Knox Deposit Geology and Mineralization ................................................................. 31 7.4 Gil Deposit Geology and Mineralization ............................................................................ 33 8 DEPOSIT TYPES ........................................................................................................................... 37 9 EXPLORATION .............................................................................................................................. 38 10 DRILLING ....................................................................................................................................... 39 10.1 Drilling Methods and Equipment ....................................................................................... 39 10.2 Drillhole Summary ............................................................................................................. 39 10.3 Collar and Downhole Surveys ........................................................................................... 42 10.4 Recovery............................................................................................................................ 43 10.5 Logging Procedures .......................................................................................................... 43 10.6 Geotechnical, Hydrogeological and Metallurgical Drilling ................................................. 44 TOC i Kinross Gold Corporation Fort Knox Mine Fairbanks North Star Borough, Alaska, USA NI 43-101 Technical Report 11 SAMPLE COLLECTION, PREPARATION, ANALYSES, AND SECURITY ................................... 45 11.1 Sampling Methodology ...................................................................................................... 45 11.2 Sample Security ................................................................................................................ 46 11.3 Sample Preparation ........................................................................................................... 4 6 11.4 Sample Analysis ................................................................................................................ 47 11.5 Quality Assurance and Quality Control ............................................................................. 48 11.6 Comment on Sample Preparation, Analyses, and Security .............................................. 55 12 DATA VERIFICATION .................................................................................................................... 56 12.1 Fort Knox ........................................................................................................................... 56 12.2 Gil ...................................................................................................................................... 57 12.3 Comment on Data Verification........................................................................................... 57 13 MINERAL PROCESSING AND METALLURGICAL TESTING ...................................................... 59 13.1 Fort Knox ........................................................................................................................... 59 13.2 Gil ...................................................................................................................................... 64 14 MINERAL RESOURCE ESTIMATE ............................................................................................... 66 14.1 Mineral Resource Statement ............................................................................................. 66 14.2 Fort Knox Mineral Resource Estimate ............................................................................... 67 14.3 Gil Mineral Resource Estimate .......................................................................................... 86 15 MINERAL RESERVE ESTIMATE .................................................................................................. 99 15.1 Basis of Reserve Estimate and Pit Optimization ............................................................... 99 15.2 Comment on Mineral Reserves ....................................................................................... 101 16 MINING METHODS ...................................................................................................................... 103 16.1 Mine Design and Parameters .......................................................................................... 104 16.2 Production Rates and Life-of-Mine .................................................................................. 108 16.3 Stripping Requirements ................................................................................................... 110 16.4 Mine Equipment ............................................................................................................... 111 16.5 Personnel Requirements ................................................................................................. 111 17 RECOVERY METHODS .............................................................................................................. 112 17.1 Milling