Kinross announces sale of shares of White Gold

Rhea-AI Summary

Kinross Gold Corporation (NYSE: KGC) has announced the complete divestment of its stake in White Gold Corp. The company sold 23,681,160 common shares, representing approximately 12% of White Gold's outstanding shares.

The shares were sold at an average price of $0.29 per share, resulting in total proceeds of $6.87 million. This transaction marks Kinross's complete exit from its White Gold investment.

Positive

• Generated approximately $6.87 million in cash proceeds from the sale
• Complete exit from non-core investment position

Negative

• Divested ownership stake in White Gold's potential future growth

(All dollar amounts are expressed in Canadian dollars, unless otherwise noted.)

TORONTO, July 25, 2025 (GLOBE NEWSWIRE) -- Kinross Gold Corporation (“Kinross” or the “Company”) (TSX: K, NYSE: KGC) announced today that it has sold an aggregate of 23,681,160 common shares of White Gold Corp. (“White Gold”) representing all of the common shares held by Kinross. The shares represent approximately 12% of the outstanding White Gold common shares. The shares were sold at an average sales price of $0.29 (excluding commission), representing an aggregate sale price of $6,869,905.51.

A copy of the early warning report filed by Kinross in connection with the investment will be available on White Gold’s profile on SEDAR+ at www.sedarplus.ca. Alternatively, you may contact Luke Crosby, Senior Vice President, General Counsel and Corporate Secretary at 647-788-4478 to obtain a copy of the report. Kinross is organized under the laws of the Province of Ontario and its head office is located at 25 York Street, 17th Floor, Toronto, Ontario M5J 2V5. White Gold’s head office is located at 82 Richmond Street East, Toronto, Ontario, M5C 1P1.

About Kinross Gold Corporation

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

Media Contact
Samantha Sheffield
Director, Corporate Communications
phone: 416-365-3034
samantha.sheffield@kinross.com

Investor Relations Contact
David Shaver
Senior Vice-President, Investor Relations & Communications
phone: 647-365-2854
investorrelations@kinross.com

Source: Kinross Gold Corporation

FAQ

How many White Gold Corp shares did Kinross (NYSE: KGC) sell in July 2025?

Kinross sold 23,681,160 common shares of White Gold Corp, representing approximately 12% of White Gold's outstanding shares.

What was the total value of Kinross's (KGC) White Gold share sale?

Kinross sold the shares at an average price of $0.29, generating total proceeds of $6,869,905.51.

What percentage stake did Kinross (KGC) hold in White Gold Corp before the sale?

Kinross held approximately 12% of White Gold Corp's outstanding common shares before selling its entire position.

Does Kinross (KGC) still own any shares in White Gold Corp after the July 2025 sale?

No, Kinross sold all of its shares in White Gold Corp, completely exiting its investment position.