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 of 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 of 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 over a 15-year life-of-mine. 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
Construction is expected to start in 2025, with Kinross targeting production to start in 2027, subject to permitting.

Latest Developments
The Lobo-Marte feasibility study is advancing and is on schedule to be completed in the fourth quarter of 2021.

Permitting work is ongoing, including environmental studies and community consultations.

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.