Technical Report for the Maricunga Gold Mine - Kinross Gold

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Kinross Gold CorporationMaricunga Mine Technical Report4.0 PROPERTY DESCRIPTION AND LOCATIONThe Maricunga Property is located in the Maricunga District of Region III in Chile. Theproperty is located 120 km due east of the city of Copiapó at elevations between 4,200 mand 4,500 m above mean sea level. The Maricunga Mine (formerly known as Refugio) islocated at 27 degrees 33 minutes south latitude and 69 degrees 18 minutes west longitude.Figure 4-1 is a generalized location map of the project.Figure 4-1: Maricunga Location Map4.1 Claim StatusAll surface and mineral claims, surface rights and water rights are maintained in goodstanding. Mining claims total 8,380 hectares while the exploration properties held by CMMinclude 5,900 hectares. Chilean attorneys monitor claim status on behalf of CMM annually.No ownership issues with respect to the mineral claims hosting the project’s mineralresource and reserve estimates have been identified. The project mineral rights and claims20
Kinross Gold CorporationMaricunga Mine Technical Reportare listed in Table 4-1 below. The position of the CMM claims relative to the maininfrastructure and open pit location is shown in Figure 4-2. Figure 4-3 shows the detailedmineral rights and claims.In Chile, mining claims are obtained through a judicial process that requires all surveyinformation to be filed with the appropriate government agency. All CMM claims weresurveyed by Guillermo Contreras and Sons Limitada of Santiago.4.1.1 Surface RightsIn addition to the mineral claim rights, CMM also holds title to surface rights at Maricunga,providing the land required for the leach pads, waste dumps, Verde pit, Pancho andGuanaco targets. All surface rights affecting the ongoing mining activity have beenreviewed. No fatal flaws have been identified that would negatively affect the development ofnew areas for mining activities.4.1.2 Water RightsWater extraction rights, totalling 258 litres per second have been secured by CMM. Permitsare in place and maintained. No issues regarding water rights have been identified thatwould adversely affect the project.4.1.3 Royalty PaymentsThe mine production at Maricunga is subject to royalty payments in US dollars based on therealized gold price per ounce. The underlying royalty payments for Maricunga consist of anNSR combined with payment based on Net Operating Margin (NOM). It is effectively asliding scale. At a gold price of $400 the payments are equivalent to $9.471 per ounce.4.1.4 Environmental LiabilitiesThere is no underlying environmental liability affecting CMM.21
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Technical Report for the Maricunga Gold Mine - Kinross Gold

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