Kinross announces friendly combination with Aurelian
Aurelian shareholders receive 63% premium
Kinross to acquire major growth asset
Kinross committed to continue responsible development in Ecuador
Toronto, Ontario, July 24, 2008
– Kinross Gold Corporation (TSX:K; NYSE:KGC) and Aurelian
Resources Inc. (TSX:ARU) announced today that their respective Boards of Directors have
approved a business combination by way of a friendly offer by Kinross to acquire 100% of the
outstanding common shares of Aurelian, and that they have signed a Support Agreement
pursuant to which Aurelian’s Board of Directors has unanimously agreed to support the Kinross
offer. The total value of the offer is approximately $1.2 billion.
Highlights of the Transaction