SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2020

Commission File Number: 001-13382

KINROSS GOLD CORPORATION

(Translation of registrant's name into English)

17^th Floor, 25 York Street,

Toronto, Ontario M5J 2V5

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40F:

Form 20-F ¨ Form 40-F x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ¨          No x

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2b:

This Current Report on Form 6-K, dated March 10, 2020 is specifically incorporated by reference into Kinross Gold Corporation's Registration Statements on Form S-8 [Registration No. 333-217099, filed on April 3, 2017 and Registration Nos. 333-180824, 333-180823 and 333-180822, filed on April 19, 2012].

This report on Form 6-K is being furnished for the purpose of providing a copy of the press release dated March 10, 2020 in which the company announced the filing of a technical report for its Paracatu Mine, Brazil, and for providing a copy of the Technical Report along with the required certificate and consents as filed on SEDAR, dated March 10, 2020.

INDEX

Table of Contents

SIGNATURES

EXHIBIT INDEX

SIGNATURES

Pursuant to the requirements of Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

March 10, 2020

Exhibit 99.1

Kinross Gold Corporation 25 York Street 17th Floor Toronto, ON, Canada M5J 2V5

NEWS RELEASE

Kinross files new Paracatu technical report

Mine expected to produce average of approximately 540 koz. over 12 years, at lower costs

Adds 828 koz. in mineral reserves to offset 2019 depletion, and 1.1 million oz. in measured and indicated resources

Toronto, Ontario – March 10, 2020 – Kinross Gold Corporation (TSX:K; NYSE: KGC) (“Kinross”) today filed a new technical report for its Paracatu operation in Brazil. Paracatu is a cornerstone, long-life operation in Kinross’ portfolio that is expected to produce an average of approximately 540 Au koz. annually over 12 years from 2020 to 2031. Total production over the remaining mine life is expected to increase approximately 24% compared with the prior technical report that was published in 2014.

The new technical report is based on an asset optimization program that commenced in 2018 and was completed in late 2019 with the successful implementation of a comprehensive grade control program. The results of the program include better characterization of the orebody, an improved ability to predict and react to ore variability, and better mill efficiency with improvements in throughput and recovery.

The technical report also incorporates continuous improvement programs which have resulted in improved mining rates and increased overall productivity, the addition of renewable power sources with the investment in two hydroelectric power plants in 2018, and the continued successful tailings reprocessing project.

In 2019, Paracatu performance improved significantly due to the benefits of the asset optimization and continuous improvement programs, with the mine achieving record annual production and reducing cost of sales per ounce sold by approximately 20% over 2018. The new technical report forecasts significant reductions to life of mine operating costs and improved capital efficiency and recovery rates compared with the 2014 report.

As previously disclosed in the Company’s 2019 year-end mineral reserves and resources update, a newly updated resource model has resulted in the addition of approximately 828 Au koz. to estimated mineral reserves, more than offsetting 2019 depletion of 705 Au koz. Measured and indicated resources also increased by approximately 1.1 million Au oz., or 35%, compared with 2018. Inferred mineral resources includes an estimated 367 Au koz. contained in the Santo Antonio tailings deposits. The Company plans to continue mining the tailings deposits after 2020.

The new report also describes tailings facilities at Paracatu, which meet or exceed regulatory and international requirements and standards of best practice. The facilities are constructed using a modified centerline design and are engineered, compacted, zoned earthfill dams. Independent assessment of the tailings facilities at site is conducted annually and rigorous maintenance, monitoring, and emergency response procedures and plans are in place, including daily inspections. For more information about Paracatu’s tailings facilities, see video here: https://bit.ly/2TKKzh6

The technical report has been prepared pursuant to Canadian Securities Administrator's National Instrument 43-101, and may be found at www.kinross.com or under the Company's profile at www.sedar.com.

About Kinross Gold Corporation

Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Kinross’ focus is on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).

www.kinross.com

Kinross Gold Corporation 25 York Street 17th Floor Toronto, ON, Canada M5J 2V5

Media Contact

Louie Diaz

Senior Director, Corporate Communications

phone: 416-369-6469

louie.diaz@kinross.com

Investor Relations Contact

Tom Elliott

Senior Vice-President, Investor Relations and Corporate Development

phone: 416-365-3390

tom.elliott@kinross.com

Cautionary statement on forward-looking information

All statements, other than statements of historical fact, contained or incorporated by reference in this news release, including any information as to the future performance of Kinross, constitute "forward looking statements" within the meaning of applicable securities laws, including the provisions of the Securities Act (Ontario) and the provisions for "safe harbor" under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release. Forward looking statements include, without limitation, future events and opportunities including but not limited to the operational updates at Paracatu described in this news release. The words "estimate”, “expected”, “forecast”, and “plan”, and variations of such words identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions referenced, contained or incorporated by reference in this news release, which may prove to be incorrect, include, but are not limited to the production, cost and life of mine estimates in the technical report being consistent with our expectations, the various assumptions set forth herein and in our Annual Information Form dated March 31, 2019 ("2018 AIF") and full year 2019 Management's Discussion and Analysis. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. In addition, there are risks and hazards associated with the business of mining and related project development, including financial, environmental hazards, government and labour relations, unusual or unexpected formations, pressures, cave-ins and flooding (and the risk of inadequate insurance, or the inability to obtain insurance, to cover such risks). Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, Kinross' actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Kinross. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those made in our other news release dated February 12, 2020 as well as other filings with the securities regulators of Canada and the United States including, but not limited to, the cautionary statements made in the "Risk Factors" section of our 2018 AIF. These factors are not intended to represent a complete list of the factors that could affect Kinross. Kinross disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

The technical information about the Company’s mineral properties contained in this presentation has been prepared under the supervision of Mr. John Sims, an officer of the Company who is a “qualified person” within the meaning of National Instrument 43-101.

Source: Kinross Gold Corporation

Exhibit 99.2

Paracatu Mine

Brazil

National Instrument 43-101 Technical Report

Prepared for:

Kinross Gold Corporation

Prepared by:

John Sims, AIPG Certified Professional Geologist

Effective Date: March 10, 2020

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Contents

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Tables

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Figures

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Kinross Gold Corporation (Kinross) has prepared a Technical Report (the Technical Report) for the wholly-owned and operated Paracatu Project (Paracatu or the Project), located in the northwestern region of the state of Minas Gerais, Brazil. Kinross Brasil Mineração S.A. (KBM, Kinross or the Company) is Kinross’ operating entity for Paracatu. KBM was previously known as Rio Paracatu Mineração S.A. (RPM), before the name was changed in 2010.

Paracatu is a large open pit gold mine located in the Minas Gerais region of Brazil. Operations include conventional shovel/truck open pit mining, tailings reprocessing operations, two process plants with extraction of gold using gravity/ flotation/ carbon-in-leach (CIL) recovery processes. Since production started in 1987, Paracatu has produced 8.9 million ounces of gold as of the end of 2019.

Property Description, Location and Land Tenure

The Paracatu property is located in northwestern region of the Minas Gerais State approximately 230 km southeast of the national capital Brasilia, and 480 km northwest of the state capital Belo Horizonte. The property consists of five mining leases merged into one mining group. In addition, Kinross holds title to 17 exploration permits totalling approximately 15,568  ha and has applications for an additional 71 permits (exploration and mining applications) totalling approximately 119,599 ha. It comprises an open pit mine as well as processing plants, tailings facilities and associated infrastructure. The property is easily accessible by road from the nearby municipality of Paracatu. It is centred at approximately 17°13’15”S latitude and 46°52’30”W longitude.

Kinross first acquired a 49% interest in the mine upon completion of the merger with TVX Gold Inc. (TVX) and Echo Bay Mines Ltd. (Echo Bay) on January 31, 2003. On December 31, 2004, Kinross purchased the remaining 51% interest in the mine from Rio Tinto for US$260 million. Kinross’ interest in the property is subject to a royalty of 1.5% of net sales due to Agencia Nacional de Mineracao (ANM) and an additional royalty of 0.5% is due to the holders of surface rights in the mine area not already owned by Kinross.

History

The mining history of the Paracatu region extends back to the 18^th century. Beginning in 1970, Paracatu attracted some attention from mineral exploration companies looking for lead and zinc deposits in the area. In 1984, Riofinex do Brasil (Riofinex) embarked on a surface exploration program that focused on the oxidized and weathered horizons of the Morro do Ouro area. Production at Paracatu commenced in October 1987 with the treatment of oxidized and highly weathered ore. The first gold bar was poured in December 1987. As a result of a series of expansion projects, the design capacity has increased to its current nominal throughput of 61 Mt/a ROM. Total production to-date is 8.9 million gold ounces.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Geology and Mineralization

The Paracatu Property is hosted within the Brasília Belt, a north-south trending Neoproterozoic belt that extends along the western side of the São Franscisco-Congo Craton. Sedimentary units are mostly preserved in the northern part of the belt, whereas in the southern part where Paracatu is located, there is intense deformation and metamorphism, and contacts between metasedimentary units are primarily tectonic. A series of east-northeast trending thrust faults is developed extensively along the belt. Metamorphic grade increases towards the west as the thickness of the fold belt increases. The timing of deformation is estimated at 800 Ma to 600 Ma which coincides with the Brasiliano orogenic cycle.

The host phyllites of the Paracatu Formation exhibit feature well-developed quartz boudins and associated sulfide mineralization. Sericite minerals are common, likely as a result of extensive metamorphic alteration of the host rocks. Primary sedimentary features and bedding planes are easily recognizable, but are intensively deformed by thrusting, particularly along bedding planes, and the development of sygmoidal and boudinage structures.

The mineralization at Paracatu exhibits distinct mineralogical zoning with the arsenopyrite content increasing towards the centre and west and in the zones of intense deformation. Gold grade increases with increasing arsenopyrite content. Pyrrhotite occurs in the western part of the deposit and gold grades are elevated where higher pyrrhotite content is observed. The deposit formation model proposed for Paracatu suggests that gold and arsenopyrite were introduced concurrently during the deformation event. Gold occurs either as free gold or electrum. The central part of the deposit contains a high amount of boudins, whereas along the margins fewer boudins are present. The boudins in general contain more than 90% of the sulfides and gold.

Exploration

Since Kinross acquired the Project in 2003, exploration efforts have been focused primarily on the main mining area. Exploration outside of the immediate mine area was initiated in 2006. In the licensed exploration areas immediately bordering the mine leases, exploration activities were concentrated on soil and termite-mound geochemical sampling and interpretation of airborne magnetic survey data to look for nearby features similar to Paracatu. Some target areas were generated, mostly located west and west-northwest of the mine. Follow-up exploration returned no significant results.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Drilling

All drill hole data are stored in acQuire database software. The database contains 4,543 diamond drill holes collected between 1984 and the beginning of 2019. The hole spacing varies from 25 to 200 m. Core diameters for holes drilled by Kinross include HX (76.2 mm), HQ (63.5 mm), HTW (70.9 mm), and NQ (47.6 mm). Substantially all of this drilling has been completed on the mining leases.

Mineral Resources and Mineral Reserves

Mineral Resources exclusive of Mineral Reserves are reported between the EOY2019 ultimate pit design and the $1,400/oz LG pit shell. The Mineral Resources also include Inferred and some incremental Measured and Indicated material situated in the pit design. Cut-off grades were determined using a long-term gold price of US$1,400/oz. Processing recoveries, material hardness and associated operating conditions were used to generate an optimized pit shell using the pseudo-flow algorithm.

The life of mine plan and Mineral Reserves include one year (2020) of tailings for reprocessing (from the Santo Antônio facility). Tailings reprocessing operations are expected to continue after 2020, but given limitations on drilling and sampling, only one year’s worth of production can be characterized with sufficient confidence for inclusion in the mine plan and Mineral Reserves.

Inferred Mineral Resources include an estimated 367 koz of gold contained (47,159 kt with 0.2 g/t) in the Santo Antônio tailings deposit (Processing Santo Antônio Tailings – PSAT). The remaining 1 koz (107 kt with 0.3 g/t) of Inferred is in situ material in the resource pit shell.

The Mineral Resource and Mineral Reserve estimates as of year-end 2019 are summarized in Tables 1-1 and 1-2.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Table 1-1: Mineral Resources exclusive of Mineral Reserves – December 31, 2019

Table 1-2: Proven and Probable Mineral Reserves – December 31, 2019

Mining Method

The Paracatu operation consists of an open pit mine, two process plants, two tailings facilities, and related surface infrastructure and support buildings. Ore hardness increases with depth and characterizing the hardness of the Paracatu deposit is important for costing and process throughput parameters.

Recovery Methods

Paracatu has two processing plants known as Plant I and Plant II. Plant I has operated continuously since 1987 and Plant II since 2008. Paracatu has been reprocessing the tailings since 2015.

Plant I has operated continuously since 1987 and had expansion upgrades in 1997 and 1999. In 2018, the plant processed 8.25 Mt. The plant consists of primary and secondary crushing, rougher and cleaner flotation, concentrate regrinding, and cyanide leaching.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Plant II was developed as part of the Paracatu Expansion III Project and consists of one in-pit crusher (MMD toothed roll type), a 1.8 km conveyor to a covered stockpile area, one semi-autogenous grinding (SAG) mill and two ball mills. A third ball mill was installed in June 2011 and a fourth ball mill was installed in August 2012. In 2018, the plant processed 35.4 Mt of run-of-mine material.

In August 2015, Paracatu began the PSAT project, and in mid-2017, the Eustáquio Tailings (PET) project commenced. The target for these projects is gold that has segregated naturally in the tailings basins. Coarser material from PSAT and PET is excavated and hauled by truck to the Plant II stockpile, where the tailings are comingled with ROM to feed the SAG mill. Finer material from PSAT is hydraulically mined using a high-pressure water jet and pumped to the Plant I flotation circuit.

Production for PSAT and PET is shown in Table 1-3. PET ounces from 2018 onward are not shown separately, and are counted towards recovery because the PET material can be considered part of the circuit in current production.

Table 1-3: PSAT and PET summary results

Site Infrastructure

Paracatu infrastructure and services have been designed to support an operation of 61 Mt/a. The mine site consists of two processing plants, related mine services facilities (truck shop, truck wash facility, warehouse, fuel storage and distribution facilities, reagent storage and distribution facilities), and other facilities to support operations (safety/security/first aid/emergency response building, assay laboratory, plant guard house, dining facilities, offices etc.).

In 2011, a road was constructed directly from the highway west of the mine exclusively for access to the mine and plants. This four lane paved road is separated by a median and is 3.4 km long.

The mine draws its power from the Brazilian national power grid which relies mainly on hydroelectric power generation with outstanding reliability. Kinross is furnished with a 230 kV connection by a substation that converts power from 500 kV transmission lines. A 34 km overhead transmission line connects the substation to the mine site substation which feeds 13.8 kV electricity to Plant II and 138 kV to Plant I.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

In Brazil, the electricity is subject to a free market environment with consumers able to select their supplier of choice. Approximately 60-70% of Kinross’s power needs are fed by a self-generation structure located approximately 660 km from the mine in the state of Goias (Hydro Power Plants: Caçu and Barra dos Coqueiros owned by Kinross).The remainder is contracted bilaterally in the free market through PPAs (power purchase agreements).

The main sources of water for Kinross operations are run-off water collected in mine sumps, run-off water collected in the tailings dam catchment basins, recirculated effluent from the process, and makeup water from three local surface water streams. The majority of process water is captured and maintained in the mine sumps and tailings catchment basins during the rainy season for use during the dry season.

Environmental, Permitting and Social Considerations

Paracatu is constantly seeking excellence in its occupational health and safety, environmental and social responsibility system. The site maintains Certifications in ISO 14001, OHSAS 18001, SA 8000 and compliance with the International Cyanide Management Code.

Environmental analyses focus on operations in the Kinross mining licence area and related facilities. An Environmental Impact Control Plan (PCIAM) has been implemented to ensure compliance with environmental permits. This plan focuses on such topics as air and soil quality, noise and vibration control, preservation of waterways, re-vegetation and tree planting, the safety and hygiene of workers, and reclamation projects as well as occupation proposals and future use of the areas affected by mining. The key aspects and environmental impacts addressed in the plan include deforestation, relocation of mammals and birds, soil removal and compacting, dust mitigation, fossil fuel emissions, rainwater runoff, noise and vibrations from operations and blasting, and changes to the landscape.

Kinross’ Environmental Impact Control Plan and Closure Plan were updated in 2018 and 2019 to reflect changes in mining activities, processing, and final disposal of waste and tailings.

Tailings management programs at Paracatu incorporate best-in-class standards and meet or exceed international standards for dam safety. 

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Capital and Operating Costs

Planned capital costs at Paracatu are primarily sustaining capital, which includes mine equipment replacement and $512 million for the tailings dam expansions. Total sustaining capital costs are $997.2 million in real terms.

Operating costs are tracked and are well understood. Unit operating costs for the LOM production schedule are shown in Table 1-4.

Table 1-4: Operating cost estimate for LOM (January 1, 2020 forward)

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Kinross Gold Corporation (Kinross) has prepared a Technical Report (the Technical Report) for the wholly-owned and operated Paracatu Project in the northwestern region of the state of Minas Gerais, Brazil. Kinross Brasil Mineração S.A. (KBM Kinross or the Company) is Kinross’ operating entity for Paracatu. KBM Kinross was previously known as Rio Paracatu Mineração S.A. (RPM), before the name was changed in 2010.

The purpose of this Technical Report is to support disclosure of end-of-year 2019 Mineral Resources and Mineral Reserves. The Technical Report conforms to NI 43-101 Standards of Disclosure for Mineral Projects and has an effective date of March 10, 2020.

Currency is expressed in US dollars unless stated otherwise. The currency of Brazil is the Real.

Information used to support this Technical Report has been derived from the reports and documents listed in the References section of this Technical Report.

The use of the terms “we”, “us”, “our” or “Kinross” in this Technical Report refer to Kinross Gold Corporation.

The Qualified Person (QP) for this Technical Report is:

Mr. Sims last visited the site in January 2020, when he inspected core and surface outcrops, drill platforms and sample cutting and logging areas; discussed geology and mineralization with Project staff; and inspected the major infrastructure and current mining operations.

Information used to support this Technical Report was derived from previous technical reports on the property, and from the reports and documents listed in the References section of this Technical Report.

Preparation of the revised Mineral Resource estimates included in this report was supervised by Racquel Kolkert, Senior Director, Resource & Mine Geology, and Paulo Henrique Netto, Manager of Technical Services at Paracatu.

The revised Mineral Reserve estimate included in this report was prepared by Muhanad Jalil, Director, Kinross Technical Services at Paracatu.

Several effective dates (cut-off dates for the information prepared) are appropriate for information included in this Technical Report. The effective date for the Mineral Resources and Mineral Reserves was December 31, 2019 (EOY2019). There were no material changes to the information on the Project between the effective date and the signature date of the Technical Report.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

In the preparation of the Technical Report, the Qualified Person relied on information provided by internal Kinross legal counsel for the discussion of legal matters in Sections 4, 19, and 20.

Except for the purposes legislated under provincial securities law, any other use of this report by any third parties is at this party’s sole risk.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

The Paracatu Mine, also referred to as the Morro do Ouro Mine, is located immediately north of the city of Paracatu and 230 km southeast of the national capital of Brasilia in northwestern Minas Gerais State, Brazil (Figure 4-1). The Project comprises an open pit mine as well as processing plants, tailings facilities and associated infrastructure. The mine commenced production in 1987 and currently processes ore at a nominal plant throughput rate of 61 Mt/a.

The Paracatu mine, represented by mining group number 931.299/2009, is composed of five mining licenses. Kinross also has exploration permits, exploration permit applications and mining permit applications (Figure 4-2 and Table 4-1). The Universal Transverse Mercator (UTM) co-ordinates for the approximate centre of the Property are 8,098,500 m S and 298,000 m E (WGS84, Zone 23). The geographic coordinates are approximately 17°13’15”S latitude and 46°52’30”W longitude.

As of the effective date of this report, all the leases and permits comprising the property are in good standing.

Kinross pays R$ 3.42 per hectare in annual exploration permit renewal fees to the National Mining Agency (ANM – Agencia Nacional de Mineracao, formerly known by the acronym DNPM) during the initial three years of exploration. Renewed exploration permits beyond the initial three year exploration period require an annual renewal fee of R$ 5.13 per hectare.

Kinross first acquired a 49% interest in the Project upon completion of the merger with TVX Gold Inc. (TVX) and Echo Bay Mines Ltd. (Echo Bay) on January 31, 2003. On December 31, 2004, Kinross purchased the remaining 51% interest in the mine from Rio Tinto for US$260 million.

The grouped mining leases are located within the municipality of Paracatu. They are licensed as Mining Group number 238/2010 and are tied to process number 931.299/2009 which is a combination of process numbers 800.005/1975, 830.241/1980, 832.225/1993, 832.228/1993 and 830.907/1999. The mining leases are confirmed by legal survey.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Figure 4-1: Paracatu mine location map

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

The Paracatu mine area is located on properties that are owned by Kinross, or on easements that are on a planned acquisition schedule. The current tailings impoundment is located on lands to which Kinross has negotiated surface rights with the former landowner(s).

In addition, Kinross holds title to 17 exploration permits totalling approximately 15,568  ha and has applications for an additional 71 permits (exploration and mining applications) totalling approximately 119,598.90 ha. These exploration permits and applications for exploration permits comprise a significant land package around the Paracatu Mine, covering the northern and southern strike extensions of the Morro do Ouro Member of the Paracatu Formation.

In Brazil, the ANM issues all mining leases and exploration concessions. Mining leases are renewable annually and have no set expiry date. Each year Kinross is required to provide information to the ANM summarizing mine production statistics.

Exploration permits are granted for a period of three years. Once a company has applied for an exploration permit, the applicant holds a priority right to the concession area as long as there is no previous ownership. The owner of the concession can apply to have the exploration permit successively renewed. Renewal is at the sole discretion of ANM. Granted exploration concessions are published in the Official Gazette of the Republic (OGR), which lists individual concessions and their change in status. The exploration concession grants the owner the sub-surface mineral rights. The owner of an exploration permit is guaranteed, by law, access to perform exploration field work, provided adequate compensation is paid to third party landowners and the owner accepts all environmental liabilities resulting from the exploration work.

In instances where third party landowners have denied surface access to an exploration permit, the owner maintains full title to the concession until such time as the issue of access is negotiated or legally enforced by the courts. Access is guaranteed under law and the owner of an exploration concession will eventually gain easements to access the title. Kinross has previously used the easement process to obtain surface rights from landowners during development of the Paracatu mine.

Once access is obtained, the owner has three years to submit an Exploration Report (ER) on the concession. The owner of a mineral concession is obligated to explore the mineral potential of the concession and submit an ER to the ANM summarizing the results of the fieldwork and providing conclusions as to the economic viability of the mineralization. The content and structure of the report is dictated by the ANM and a person with suitable professional qualifications must prepare the report.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

The ANM will review the ER for the concessions and will either:

Approval, dismissal or postponement of the ER is at the discretion of the ANM. There is no set time limit for the ANM to complete the review of the ER. The owner is notified of the ANM’s decision on the ER and the decision is published in the OGR.

On ANM approval of the ER, the owner of an exploration permit has one year to apply for a mining lease. The application must include a detailed Development Plan (DP) outlining how the deposit will be mined.

ANM reviews the DP and decides whether or not to grant the application. The decision is at the discretion of ANM, but approval is virtually assured unless development of the project is considered harmful to the public or the development of the project compromises interests more relevant than industrial exploitation. Should the application for a mining lease be denied for exploration concessions for which the ER has been approved, the owner is entitled to government compensation.

On approval of the DP, ANM grants the mining licence, which remains in force until the mineral resource is depleted.

Kinross must pay a royalty equivalent to 1.5% of net sales to the ANM. An additional royalty of 0.5% is due to the holders of surface rights in the mine area, in areas that are not owned by the mine.

Kinross has obtained required permits for current activities and expects to obtain permits for future proposed work on the property as necessary. Permitting is discussed further in Section 20.2.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Table 4-1: Paracatu mineral rights

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Figure 4-2: Paracatu mining and exploration claims map

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

The Paracatu Property is located immediately north and west of the Municipality of Paracatu, Minas Gerais state (Figure 5-1), which has a population of approximately 93,000. Access from Paracatu is by vehicle via a four lane paved mine access road.

Paracatu is located approximately 230 km southeast of the national capital, Brasilia (population 2.97 million), and 480 km northwest of the state capital Belo Horizonte (population 2.5 million). Both are modern cities with industrial and manufacturing facilities.

Figure 5-1: Satellite images showing of the location of Paracatu and Morro do Ouro Mine (Google Image ™)

A small paved airstrip that can accommodate small, charter aircraft also services Paracatu.

The climate is tropical sub-humid with a mean temperature of around 21°C that typically ranges from 17°C to 28°C. A peak temperature of 30°C usually occurs in August or September, while a low of 14°C is usually experienced in June or July. The rainy season is from October to March, although there is precipitation throughout the year. The relative humidity is at least 75% at least six months of the year.

The mine operates year round in this climate.

Various services are available at Paracatu including housing, temporary accommodations, health services and police services. Building supplies and fuel are also available. A greater range of services, including mining equipment suppliers, mining contractors and trained manpower, can be obtained in Belo Horizonte.

The mine is connected to the national power grid, which relies mainly on hydroelectric generation.

Paracatu is located in the Brazilian savannah, a region characterized by low rolling hills that have been largely cleared of vegetation to support farming and cattle ranching. The elevation at the mine site is approximately 780 masl. The region is largely dependent on agriculture, with soy beans being the predominant crop.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Billiton acquired the original licences in what is now the Project and in 1980 entered into a joint venture partnership with Riofinex do Brasil (Riofinex), a subsidiary of Rio Tinto. In 1984, Riofinex acquired Billiton’s interest in the property.

In 1985, RTZ Mineracão, a successor company to Riofinex, entered into a joint venture with Autram Mineracão e Participaçoes (Autram). A new entity, Rio Paracatu Mineracão (RPM), was formed to hold the joint venture interests, with Rio Tinto holding a 51% interest and Autram holding a 49% interest in RPM.

Subsequently, Autram’s interest in RPM was acquired by TVX Participaçoes which later became TVX. TVX then entered into an agreement with Newmont Mining Corporation (Newmont) which resulted in Newmont and TVX each holding a 24.5% interest in RPM. In early 2003, TVX acquired Newmont’s 24.5% interest to hold a 49% interest in RPM. In late January 2003, Kinross acquired its interest in the property by merging with TVX and Echo Bay. On December 31, 2004, Kinross purchased the remaining 51% interest in RPM from Rio Tinto for US$260 million. In 2010, the name of the operating entity was changed to Kinross Brasil Mineracao or KBM.

The mining history of the Paracatu region is closely associated with the activities of the Portuguese bandeirantes who prospected for gold in Brazil’s interior, arriving in the Paracatu region in 1722 after the discovery of gold in alluvial deposits.

Alluvial mining peaked during the second half of the 18^th century. These activities were not limited to the placer deposits along Rico Creek, but also extended to the oxidized ore outcrop on the top of Morro do Ouro or the “Hill of Gold”.

Gold production declined sharply during the first decade of the 19th century. From this point forward, production was limited to subsistence mining practiced by local inhabitants known as garimpeiros. Various prospectors explored the region but economically viable operations were limited as a result of the low-grade nature of the deposits.

Beginning in 1970, Paracatu attracted some attention from mineral exploration companies looking for lead and zinc deposits in the area. Interest in the gold of Morro do Ouro was limited as the majority of the companies were not attracted by low grades that were initially considered to be too low to be extracted economically.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

In 1984, Riofinex embarked on a surface exploration program that focused on the oxidized and weathered horizons of the Morro do Ouro area.

Table 6-1 shows the Paracatu historical drilling programs, up to the year Kinross took over the Project (2003).

Table 6-1: Paracatu historical drilling

A 1984 “reserve” estimate only included the near surface oxidized ore. Despite the low gold grade, Riofinex believed that profitable extraction of the ore could be realized. In 1985, this was confirmed by a feasibility study. Total investment up to that period was $7.3 million including ground acquisition costs, exploration costs, and the cost of the feasibility study. Approval was granted by Rio Tinto to construct a mining project at a capital cost of approximately $65 million.

Production at Paracatu commenced in October 1987, treating oxidized and highly weathered ore. The first gold bar was poured in December 1987.

At the end of 1984, based on data from test pits and further supported by a total of 44 drill holes, a “reserve” of 97.5 million tonnes at 0.587 g/t Au was estimated at what is currently the Paracatu Mine. This estimate only included the superficial oxidized ore.

Kinross notes that this estimate pre-dates NI 43-101, cannot be relied upon, and is quoted for historical purposes only.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

The property has been in continuous operation since 1987. Figure 6-1 and Table 6-2 summarize the historical life of mine production at Paracatu since commencement of commercial production based on run of mine statistics. These figures include production from Santo Antônio and Eustáquio tailings reprocessing, which is detailed in the Chapter 24.

Figure 6-1: Paracatu mine historical production

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Table 6-2: Paracatu life of mine production summary

*1987 historical production was 500 thousand tonnes.

** Before 1996, grade values are approximate.

*** Equivalent Ounces.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

The Paracatu Property is hosted within the Brasília Belt, a north-south trending Neoproterozoic belt that extends along the western side of the São Francisco-Congo Craton (Figure 7-1).

The Brasilia Belt resulted from the collision between three cratonic blocks: the Amazonian, the São Francisco-Congo and a third block concealed under Phanerozoic sediments of the Parana Basin. Sedimentary units are mostly preserved in the northern part of the belt, whereas in the southern part where Paracatu is located, there is intense deformation and metamorphism, and contacts between metasedimentary units are primarily tectonic (Rodrigues et al., 2010).

The Brasília Belt has four main components (Rodrigues et al., 2010 and references therein):

A series of east-northeast trending thrust faults is developed extensively along the belt. Metamorphic grade increases towards the west as the thickness of the fold belt increases. The timing of deformation is estimated at 800 Ma to 600 Ma during the Brasiliano orogenic cycle.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Figure 7-1: Simplified geology of the Brasilia Belt

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

The local scale geology is composed of sandy and shaley metasedimentary rocks, metamorphosed to greenschist grade, of the Canastra Group. , The stratigraphy is not fully understood because of intense deformation. The Project is underlain by a thick sequence of phyllites belonging to the basal part of the Paracatu Formation of the Upper Proterozoic Canastra Group, which is exposed along the south-central portion of the Brasília Belt (Figure 7-2).

Around Paracatu, the Canastra Group is subdivided into three formations: at the base is Serra do Landim Formation, overlain by the Paracatu Formation, followed by the Chapada dos Piloes Formation.

Figure 7-3 shows the stratigraphic column for the Canastra Group and the overlying Ibiá Group. The Canastra Group is made up of the following lithostratigraphic units, from base to top, which are separated from each other by thrust faults (Rodrigues et al., 2010).

Serra do Landim Formation

This unit mainly consists of calciferous shales and schists, with marble and limestone lenses.

Paracatu Formation

The Paracatu Formation includes the basal Morro do Ouro Member, a 100 m thick layer of dark carbonaceous phyllite, and the overlying Serra da Anta Member, a sericitic phyllite. Both phyllites display fine-grained quartzite intercalations.

Chapada dos Pilões Formation

This unit includes the basal Serra da Urucânia Member, a succession of quartzite and phyllite, and the upper Hidroelétrica Batalha Member, consisting of fine-grained quartzite and thinly-bedded phyllite.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Figure 7-2: Local geology

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Figure 7-3: Stratigraphic column, Morro do Ouro member region.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

In the property area, the rocks are phyllites and quartzite intensively altered by hydrothermal processes associated with regional metamorphism.

The property geology has extensive deformation and well-developed quartz boudins and associated sulfide mineralization. Sericite minerals are common, likely as a result of extensive metamorphic alteration of the host rocks. Primary sedimentary features and bedding planes are recognizable, but are intensely deformed by sigmoidal and boudinage structures, and by thrusting, particularly along bedding planes.

Mineralization at Paracatu is closely related to a period of ductile deformation, shearing and thrust faulting. Overall, the Morro do Ouro sequence has been thrust to the northeast. Intense, low angle isoclinal folds are commonly observed. The mineralization plunges to the west southwest at 15° to 20° and there is secondary folding with axial planes striking to the northwest resulting in kink bands, and dome and basin folds in some areas.

The mineralization appears to be truncated to the north by a major normal fault trending east-northeast as shown in Figure 7-4. The displacement along this fault is currently unknown but the fault is used as a hard boundary during mineral resource estimation. The current interpretation is that the fault has displaced the mineralization upwards and erosion has removed the mineralization in the up-thrown block.

Figure 7-5 presents a conceptualized geological cross section looking to the northwest through the deposit. The section shows the high strain zone in red surrounded by the weakly mineralized phyllites of the Morro do Ouro Member.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Figure 7-4: Property geology of the Paracatu deposit

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Figure 7-5: Cross section of the Paracatu deposit (vertical exaggeration 2x).

The entire mineralized system lies within a thick, heterogeneously deformed zone that contains both abundant NE vergent shallowly dipping shear fabrics and a strong planar or tabular (flattened) strain signature.

The Paracatu mineralization has two characteristic visual features. The first is the presence of a sulfide suite intimately associated with gold, comprising, in order of abundance, arsenopyrite, pyrite, pyrrhotite, sphalerite, galena, and chalcopyrite. The photos in Figure 7-6 illustrate the various types of mineralized boudins:

A. Typical features showing base metals (sphalerite “sph”) and dolomitic to ankeritic carbonate (“carb”) in the vein core, along with carbonaceous wall-rock seams, with arsenopyrite (“aspy”) developed on the vein rim and as disseminated grains close to the veins, and pyrite (including gold) on the vein edge and in the boudin necks.

B. A segment of a large laminated vein away from the boudin necks, showing sphalerite and carbonate developed in the vein within individual bands formed during veining, pyrite on the vein edge, and pyrrhotite (“po”) in discordant shear bands, overprinting pyrite.

C. Deformed sulfides in the vein shown by arrows (black), along with more than one phase of quartz veining, are boudinaged along the foliation that is axial planar to adjacent folded bedding of intercalated graphitic shale and siltier material, with sulfides also segregated, or grown, in the fold hinges (white arrows).

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

D. A more massive type A boudin with milky quartz and coarse arsenopyrite overgrown by pyrite.

E. A laminated type A boudin, here showing an angle between the margin of the boudin and the internal banding, indicating that veining and formation of the internal banded structure predated the main phase of boudinage.

Figure 7-6: Mineralization types and veins, sulfides and boudins morphology.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

The sulfides occur in a variety of forms, predominantly within boudinaged quartz veins or on their edges, and in the necks of the boudins. Some sulfides (pyrite, arsenopyrite, and pyrrhotite, very rare chalcopyrite and sphalerite, no galena) are also present in the host shales as veinlets and disseminations, usually in the cm- to m-scale in the vicinity of the sulfide-bearing quartz veins. (Oliver et al., 2015).

The second characteristic feature of Paracatu mineralization is the occurrence of boudinaged quartz ± carbonate ± sulfide veins.

Boudins make up, on average, 8% to 10% by volume of the mineralized rock, though there are wide variations. The central part of the orebody may contain >20% boudin material, but at the margins volumes drop off to 1% to 2% or less. Boudins and their immediate host rocks contain >90% of the sulfides and gold, based on comparison of bulk ore analyses, boudin analyses, and spatial analysis of boudin/vein distribution.

Deformation has produced distinctly separated boudins, distributed along linear trains at a low angle to the bedding of the host stratigraphy. These structures were affected by predominantly oblate flattening strains, producing “chocolate-tablet” boudinage, with less common examples of simple log-like boudins expected from a plane strain deformation (Oliver et al., 2015).

Gold occurs either as free gold or electrum. Microscopic analysis indicates that 92% of the gold at Paracatu is free-milling with less than 8% encapsulated by sulfide grains or silica.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

The Morro do Ouro is a metamorphic gold system with finely disseminated gold mineralization hosted within metasedimentary rocks.

Gold mineralization was introduced syn-tectonically as the result of metamorphic alteration during thrusting of the Morro do Ouro Sequence over the rocks of the younger Vazante Formation (Figure 8-1). Structural interpretation suggests that mineralization was precipitated within a high strain zone where silica and carbonate were depleted from host phyllites, resulting in an increase in graphite content that may have acted as a chemical trap, precipitating out gold and sulfide mineralization remobilized during the metamorphic alteration of the Morro do Ouro Sequence.

The deposit has extraordinary lateral and longitudinal continuity. The majority of exploration efforts have sought to better define the continuous longitudinal continuity of mineralized phyllites at depth west of Rico Creek and the lateral limits of the economic mineralization.

Figure 8-1: Schematic diagrams illustrating the proposed mechanism of formation of the Morro do Ouro deposit (Oliver et al., 2015)

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Since acquiring the Project in 2003, Kinross has completed a significant amount of drilling within the main mining area. Chapter 10 of this report documents drilling activities on the property.

In January 2005, Kinross commenced the exploration drill program west of Rico Creek. The outputs of this campaign led to the expansion project (Plant II).

In the licensed exploration areas immediately bordering the mine leases, exploration activities were concentrated on soil and termite-mound geochemical sampling and interpretation of airborne magnetic survey data to look for nearby features similar to Paracatu. Some target areas were generated, mostly located west and west-northwest of the mine. Follow-up exploration returned no significant results.

A near-pit geophysical survey was performed in 2008 to define the induced polarization (IP) and resistivity geophysical signature of the known buried mineralization of the down-dip southwest extension of the mineralized ore zone and fresh rock below and west of Rico Creek. A pattern was identified indicating higher chargeability in the non-mineralized zone above the ore zone, and high resistivity at depth within the ore zone.

Geophysical data was the primary driver of exploration in the licensed exploration areas located 10 km or more from the mine. Definition of favourable structural zones using regional airborne magnetic data yielded three targets which were then surveyed for IP and resistivity. Two targets were located approximately 50 km to 60 km from the mine and the third target was 10 km from the mine. Carbon-rich phyllites with quartz boudins and pyrite similar in lithologic character to the Paracatu deposit, but without gold and arsenopyrite, were identified in one of the targets located further from the mine. Although the samples did not contain gold mineralization, the program was successful in detecting litho-structural controls similar to those associated with the Paracatu deposit.
 

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

At the start of mining at Paracatu, exploration campaigns focused on the upper levels of the orebody, within 25 m to 30 m of surface. As mining advanced, deeper drilling campaigns were required to better model the orebody. Currently, a 70m x 70m diamond drill hole (DDH) infill campaign is in progress.

Drilling programs were completed primarily by Rio Tinto until 2004. Since 2005, all campaigns has been carried out by KBM or under ownership supervision. The drilling activities were conducted by various drilling contractors and supervised by geological staff. In 2013, Kinross purchased two drill rigs (Figure 10-1). Table 10-1 summarizes the drilling program history, and Figure 10-2 shows the drill hole distribution across the pit area.

Figure 10-1: Drill rig operated by Kinross team in pit area.

All drill hole data are stored in acQuire database software. The database contains 4,543 diamond drill holes collected between 1984 and the beginning of 2019. The hole spacing within the resource pit varies from 25 to 200 m.

Core diameters for holes drilled by Kinross between 2005 and 2019 included HX (76.2 mm), HQ (63.5 mm), HTW (70.9 mm), and NQ (47.6 mm).

Core was collected continuously from the collar. Wooden tags were placed in the core trays and labelled according to the drill run. All core boxes were clearly labelled with the hole number and drilled interval. Lids were nailed on each core box at the drill site to facilitate transport to the core shed logging facility.

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Drill reports identified all zones of broken ground, fault zones and water gain or loss. Water gain or loss was almost non-existent. Rusty water seams in the mineralized zone horizon were extremely rare, suggesting that active water flow occurs almost exclusively in the weathered zone. Table 10-1 shows summary of DDH by year.

Drill core logging is recorded in the acQuire system. All pertinent features are logged, including lithology, alteration, weathering, structure, boudins, percent sulfides, etc. Currently the transcription is checked by site geology prior to entry in acQuire to ensure that logged fields match expected codes. Any changes made must be noted as revisions in the logs so that they can be checked against the acQuire database.

Drill hole length varies from 10 m to nearly 600 m (west of Rico Creek). All drill hole collars were established in the field by mine survey using standard Trimble R8 or R10 GPS system. The drill holes are surveyed as close as possible to the collar coordinates established by the surveyors with most holes being surveyed within five metres of their planned location.

Since 2015, azimuth and inclination have been surveyed for all drill holes longer than 120 m. Drill holes shorter than 120 m in downhole length are considered vertical.

All drill setups (-85° to -90°) are checked by Kinross geologists before drilling starts, and geologists control the hole completion depths as well. Since 2018, the hole completion criterion has been a minimum of 24 m of barren core, with no significant sulfidation and no boudins, beyond the interpreted foot wall contact.
 

Kinross Gold Corporation Paracatu Project Brazil NI 43-101 Technical Report

Table 10-1: Drill holes database summary