Washington Post takes note of gold''s renewed appeal

4:38p ET Friday, January 31, 2003

Dear Friend of GATA and Gold:

The statement issued a few minutes ago by Kinross Gold
and appended here signifies completion of the company's
merger with Echo Bay Mines and TVX Gold, approval by
the Canadian government, and implementation Monday
of a three-for-one share consolidation for Kinross.

This should strengthen a major producer that has a policy
against hedging. It also should approximately triple the
price of Kinross shares, which closed in New York today
at US$2.38, and thus make them marginable and increase
demand for them.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

KINROSS PRESS RELEASE
January 31, 2003

a href=http://biz.yahoo.com/prnews/030131/to247_1.htmlhttp://biz.yahoo.com/prne...

Kinross Becomes the New Senior North American Gold Producer

TORONTO, Jan. 31 -- Kinross Gold Corp. is pleased to
announce the approval of the combination by the
shareholders of Echo Bay Mines Ltd. and TVX Gold Inc.
and the receipt of final approval of the Plan of Arrangement
by the Superior Court of Justice, Ontario.

As a result of the completion today of the Combination of
Kinross, Echo Bay, and TVX and the acquisition of the 49.9
percent interest in the TVX Newmont Americas joint venture
from Newmont Mining Corp., Kinross has become the
seventh-largest primary gold producer in the world.

Kinross is the only senior North American based gold
producer with both a strict non-hedging policy and less
than 5 percent of reserves hedged. Kinross has the most
leverage to changes of gold price of all North American-
based primary gold producers.

Kinross operates and maintains joint venture interests in
12 gold mines located on four continents. Although global in
reach, approximately 65 percent of Kinross gold production
is from North America, the highest percentage of any
senior North American-based gold producer. Kinross'
annualized gold production is expected to approach 2
million ounces per year at total cash cost of less than
US$200 per ounce.

Shareholders of both Echo Bay and TVX will become
common shareholders of Kinross based on the
exchange ratios of 0.1733 and 2.1667, respectively.
On Monday, February 3, 2003, Kinross will begin trading
on both the Toronto Stock Exchange and the New York
Stock Exchange reflecting the three-for-one common
share consolidation approved earlier by Kinross
shareholders.

To profile its newly acquired senior status, Kinross will
begin trading on the NYSE and to mark the occasion,
President and CEO Robert (Bob) Buchan, joined by
members of Kinross management, will ring The Opening
Bell on February 3.

Buchan, stated: quot;Although the primary market for Kinross
common shares remains the TSX, the shifting of our U.S.
listing to the NYSE is expected to increase the profile of
Kinross for American and international investors. The
American Stock Exchange has served Kinross and our
U.S.-based shareholders very well and will continue to
be the marketplace for the Echo Bay warrants that have
now become exercisable into Kinross common shares
on the terms described in the Kinross' Management
Information Circular and Supplement.quot;

After the three-for-one common share consolidation,
Kinross will have 314,238,627 common shares outstanding.
As a result of its prior ownership of shares of Echo Bay
and TVX, Newmont will become Kinross' largest
shareholder, holding 43,238,427 common shares,
representing 13.8 percent of Kinross' issued and
outstanding common shares.

Pierre Lassonde, president of Newmont, stated:
quot;We are very pleased with our strategic investment in
Kinross. As a major shareholder in the new company,
we are looking forward to sharing in Kinross' success
as the new senior gold producer. I would like to
personally congratulate Bob and his management
team for their efforts in putting this three-way combination
together, and in the process, unlocking tremendous
shareholder value.quot;

Buchan added: quot;We look forward to enhancing value
for all our shareholders with this new, elevated platform
particularly in light of the improving fundamentals in the
gold sector.quot;