Red Lake, Ontario — Kinross Gold Corporation is excited to share the latest updates on the Great Bear Project. Our team has made significant progress, highlighted by continued exploration success, an updated mineral resource in early 2024, and preparation for the advanced exploration (AEX) program. Permitting and engineering for both the AEX and the Main Project continues to advance, and in September 2024, we plan to release a Preliminary Economic Assessment (PEA), marking another important milestone.
The Great Bear Project, located in the prolific Red Lake mining district, has been a focal point for Kinross since its acquisition in February 2022. Drill results continue to support our hypothesis that the deposit remains open at depth with high grade and visible gold intercepted in the recently-drilled deepest hole to date, outside of the current resource. These discoveries reiterate the project’s strong geological foundation and Kinross’s effective exploration strategy.
As part of our AEX development plan, we’re planning a 60,000-tonne advanced exploration bulk sample at Great Bear. This is a crucial step in understanding the ore body’s characteristics and will guide future mining operations. The bulk sample reflects our commitment to advancing the project and ensuring it meets the highest safety and environmental standards.
We are excited to release our PEA in September 2024. The PEA will provide visibility into the potential production scale, construction capital, all-in sustaining cost and margins for both the open pit and the underground. Each milestone reaffirms Kinross’s dedication to delivering value to shareholders and contributing to the growth of the Red Lake region, and northwestern Ontario.
Input from our stakeholders, including Indigenous rightsholders, is essential in our proactive approach to community consultation. From the outset, we have prioritized developing a Project that provides long-term economic and social benefits and improves the overall quality of people’s lives in a manner that is sustainable beyond the life of mine, while being responsible stewards of the environment.
Kinross is proud of its ongoing respectful and collaborative dialogue with Indigenous communities. The Great Bear team has worked diligently with the goal of continued dialogue while ensuring positive and sustainable contributions to their quality of life. We have a joint Exploration Agreement with Wabauskang and Lac Seul First Nations, whose traditional territories include the Great Bear Project site.
Great Bear is an exciting Project for Kinross, with recent developments continuing to highlight its strong potential to become a world class asset and significant contributor to the Company’s future, as well as an excellent contributor of northwestern Ontario’s future.
For more information, visit www.kinross.com
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