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The Maricunga open pit mine is located in the Maricunga
mining district in central-east Chile. The property is approximately 120 kilometres east of Copiapó and is between 4,200 metres and 4,500 metres above sea level. Kinross acquired its original 50% interest and became operator of the mine on June 1, 1998, through the Kinam merger. In February 2007, Kinross acquired the remaining 50% through the acquisition of Bema Gold Corporation.

Commercial production began on October 1, 1996. Five years later, mining activities were suspended and the operation was placed on care and maintenance due to low gold prices. In late 2002, a multi-phase exploration program commenced and in 2003 it was determined that the mine would be recommissioned.

The mine went into commercial production in the fourth quarter of 2005 and achieved its average targeted production rate of 40,000 tonnes per day in November 2005.

The Maricunga mine is a three-stage crushing and heap leach operation with a name plate capacity of 40,000 tonnes of ore per day, or 11 million tonnes per year.

Facilities include a permanent camp with access to the site from Copiapó provided by road. Power is supplied by the main power grid.

Mineral Reserve and Resource Summary

As at December 31, 2012