Name of the Project
Lobo-Marte gold project.

Location
Chile.

Project Owner/s
Kinross Gold Corporation.

Project Description
Lobo-Marte has proven and probable reserves of 146.77-million tonnes grading 1.36 g/t gold. Indicated resources are estimated at 75.74-million tonnes grading 0.74 g/t of gold and inferred resources at 9.64-million tonnes grading 0.67 g/t gold.

The PFS envisages an openpit, heap-leach and sulphidisation, acidification, recycling and thickening plant operation using rope conveyors, and mining the Marte and Lobo deposits in succession.

Life-of-mine production is estimated at 4.5-million ounces of gold.

Production will start after the conclusion of mining at Kinross’ La Coipa project, located about 50 km north-west of Lobo-Marte.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
At a reserve price of $1 200/oz, the project has a net present value, at a 5% discount rate, of $150-million and an internal rate of return of 7%.

Capital Expenditure
Initial capital costs are estimated at $995-million.

Planned Start/End Date
Subject to a positive development decision, the PFS estimates construction starting in 2025, with first production expected in 2027.

Latest Developments
The approval of the project will depend on several factors, including the gold price environment and projections, expected economic returns, permitting, various technical and other considerations, Kinross’s capital priorities and maintaining the company’s balance sheet strength.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Kinross Gold Corporation, tel +1 416 365 5123 or email info@kinross.com.