Technical Report for the Maricunga Gold Mine - Kinross Gold

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