Technical Report for the Maricunga Gold Mine - Kinross Gold

Kinross Gold CorporationMaricunga Mine Technical ReportStatistical and geostatistical analysis of the drill results was performed on the raw, 2.0 metersample intervals to identify appropriate grade capping factors. Grade capping does not havea significant effect on the resource estimates, resulting in a less than 1% decrease incontained gold. The 2007 work also included compositing of the data using 5 m length.Contact profiles were prepared to determine the search strategies for copper and gold gradeinterpolation. Directional variograms were modeled to identify anisotropy and search rangesthat would guide grade interpolation. The variograms demonstrated excellent continuity,generally exceeding 100 meters in all directions.Grade interpolation was limited to gold for the Verde deposit while gold; copper and cyanidesoluble copper were modeled for Pancho. Ordinary kriging was selected as the primaryinterpolation method for gold. Both inverse distance and nearest neighbour gradeinterpolations were also performed to verify the kriged gold grades.The resultant resource block models were manually verified to ensure that gradeinterpolation was reasonable. The model was classified as per CIM Guidelines as Measured,Indicated and Inferred based primarily on the search ranges indicated by the variograms andexperience gained at Verde.The block models were used as the basis for pit optimization that was completed with theWhittle algorithm. Optimization work was based on operating costs, adjustment factors andparameters updated in November 2007. The optimum pit shells were imported into Vulcanfor final pit design using design parameters approved by a third party geotechnicalengineering company.The final mine designs were used to estimate the mineral resources and reserves was andwere prepared by a Qualified Person as required by National Instrument 43-101.Mineral reserves listed below in Table 1-1 are based on a $550 gold price and constitute theofficial reserves as of 31, December 2007.It is Kinross Policy that for all open pit mine projects, the mineral resource must fall withinoptimized or final design pits that are based on reasonable, long-term, gold priceassumptions.14