Toronto, Ontario -- KINROSS GOLD CORPORATION (TSE-K; NYSE-KGC) and BEMA GOLD CORPORATION (TSE, AMEX-BGO) announce they have instructed Cia Minera Maricunga ("CMM") (50% Kinross/50% Bema), owner of the Refugio Mine, to recommence mining and crushing activities effective December 16, 2000. The Refugio Mine has continued to process gold from the heap leach pads since in-pit mining operations were temporarily suspended on November 9, 2000.

For the first five months of 2001, Refugio is projected to produce approximately 80,000 ounces of gold at an operating cash cost of approximately $230 per ounce of gold.

Due to the current gold price and the requirement for significant capital expenditures required to operate Refugio in the second half of 2001, it is currently planned to cease mining at the end of May 2001, unless the gold price has improved significantly.

Cautionary Statement on Forward-Looking Information
This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. These include fluctuations in the price of gold, the outcome of negotiations with business partners and others concerning operations, and strategic decisions made by the company in the future. Additional important factors that could cause actual results to differ materially from Kinross' expectations are disclosed under the heading "Risk Factors" and elsewhere in Kinross' documents filed from time to time with the Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities.