"Yes, Kinross gold will own 6% of SAGE Gold outstanding shares through the Consolidated Puma merger based on their current ownership"

Is this 6% on a fully-diluted basis?

Based on my calculations Kinross will own 8.6% of SGX shares outstanding on a non-fully-diluted basis post acquisition.

As per CPW-v Management Information Circular dated June 23, 2009, Kinross (through (6674321 Canada Inc.) owns 17,935,310 shares of CPW-v. This equates to 20,392,447 shares of SGX post acquisition (based on 1.137 shares of SGX for every CPW share conversion rate previously announced). 20,392,447 divided by 235,865,231 SGX shares out post acquisition (on a non-fully-diluted basis) would give you 8.6%.

red911

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Re: Kinross

Dear shareholder,

Thank you for your inquiry. Yes, Kinross gold will own 6% of SAGE Gold outstanding shares through the Consolidated Puma merger based on their current ownership (merger subject to shareholder approval as per press release).

Regards,

AGORACOM Investor Relations