Crown Resources Corporation Closes US$1.0 Million Private Placement With Kinross Gold Corporation.

DENVER -- Crown Resources Corporation (OTCBB:CRCE) ("Crown") announced that it closed a US$1.0 million private placement financing with Kinross Gold Corporation (TSX:K)(NYSE:KGC) ("Kinross"). Kinross purchased 511,640 common shares of Crown for $1.9545 per share. Crown and Kinross are currently working towards closing the previously announced (Nov. 20, 2003) definitive acquisition agreement whereby Kinross will acquire Crown and its 100%-owned Buckhorn Mountain gold deposit located in north central Washington state, USA, approximately 42 miles by road from Kinross' Kettle River gold milling facility.

With this private placement, Crown now has approximately 40.5 million shares outstanding. This private placement by Kinross does not affect the exchange ratio of 0.2911 shares of Kinross common stock for each share of Crown that was set in the Agreement.

Where to Find Additional Information about the Transaction:

This press release is not, and is not intended to be, a solicitation of proxies or an offer of securities. Investors and security holders of Kinross and Crown are urged to read the proxy statement/prospectus and other relevant materials, when they become available, as they will contain important information about Kinross, Crown and the proposed acquisition. The proxy statement/prospectus and other relevant materials, and any other documents to be filed by Kinross or Crown with the SEC, will be available free of charge at the SEC's Web site at http://www.sec.gov. A free copy of the joint proxy statement/prospectus and other relevant materials may also be obtained from Kinross, when available.

This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Kinross and Crown, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Development of Buckhorn Mountain is subject to the successful completion and implementation of an economically viable mining plan, obtaining the necessary permits and approvals from various regulatory authorities, and compliance with operating parameters established by such authorities. Important factors that could cause actual results to differ materially from Kinross' and Crown's expectations are disclosed under the heading "Risk Factors" and elsewhere in Kinross' and Crown's documents filed from time to time with the Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities.