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             Kinross Gold U.S.A., Inc., a wholly-owned subsidiary of
                            KINROSS GOLD CORPORATION

           OFFER TO PURCHASE FOR CASH ALL OF THE PUBLICLY-HELD SHARES
              OF THE $3.75 SERIES B CONVERTIBLE PREFERRED STOCK OF
            KINAM GOLD, INC. AT A PURCHASE PRICE OF $16.00 PER SHARE

THE OFFER AND WITHDRAWAL RIGHTS EXPIRE AT MIDNIGHT, EASTERN TIME, ON MARCH 20,
2002, UNLESS THE OFFER IS EXTENDED.

                                February 20, 2002

TO BROKERS, DEALERS, COMMERCIAL BANKS, TRUST COMPANIES AND OTHER NOMINEES:

Kinross Gold Corporation, an Ontario corporation ("Kinross"), has engaged
Georgeson Shareholder Securities Corporation to act as Dealer Manager in
connection with its offer to purchase, through its wholly-owned subsidiary
Kinross Gold U.S.A., Inc., a Nevada corporation (the "Purchaser"), all of the
publicly-held shares of the $3.75 Series B Convertible Preferred Stock of Kinam
Gold, Inc. at a purchase price of $16.00 per share in cash.

Kinross's offer is being made upon the terms and subject to the conditions set
forth in the enclosed Offer to Purchase and the related Letter of Transmittal
which, as amended from time to time, together constitute the offer.

The Purchaser will pay the purchase price for all shares validly tendered and
not withdrawn, subject to the conditions set forth in the Offer to Purchase. The
Purchaser will return at its own expense all shares that are not, for whatever
reason, purchased pursuant to the offer.

The offer is not conditioned on any minimum number of shares being tendered. The
offer is, however, subject to certain other conditions, as set forth in the
Offer to Purchase.

For your information and for forwarding to your clients, we are enclosing the
following documents:

l. The Offer to Purchase.

2. The Letter of Transmittal for your use and for the information of your
clients.

3. The Notice of Guaranteed Delivery to be used to accept the offer if none of
the procedures for tendering shares described in the Offer to Purchase can be
completed on a timely basis.

4. A letter that may be sent to your clients for whose accounts you hold shares
registered in your name or in the name of your nominee, with space for obtaining
such clients' instructions with regard to the offer.

5. A return envelope addressed to Alpine Fiduciary Services, Inc., the
Depositary.

WE URGE YOU TO CONTACT YOUR CLIENTS AS PROMPTLY AS POSSIBLE. PLEASE NOTE THAT
THE OFFER AND WITHDRAWAL RIGHTS EXPIRE AT MIDNIGHT, EASTERN TIME, ON MARCH 20,
2002, UNLESS THE OFFER IS EXTENDED.




Neither Kinross nor the Purchaser will pay any fees or commissions to any
broker, dealer or other person for soliciting tenders of shares pursuant to the
offer (other than to Georgeson Shareholder Securities Corporation, as the Dealer
Manager, and Georgeson Shareholder Communications Inc., as the Information
Agent). Kinross will, upon request, reimburse you for the reasonable and
customary handling and mailing expenses you incur in forwarding materials
relating to the offer to your clients. Kinross will pay all stock transfer taxes
applicable to its purchase of shares pursuant to the offer, except as otherwise
provided in the Letter of Transmittal.

In order to take advantage of the offer, a shareholder must complete and sign
the Letter of Transmittal or a copy of the Letter of Transmittal in accordance
with the instructions in the Letter of Transmittal and either mail or deliver it
with any required signature guarantee or, in the case of book-entry transfer,
deliver an Agent's Message (as defined in the Offer to Purchase), and any other
required documents to Alpine Fiduciary Services, Inc., the Depositary, and
either mail or deliver the stock certificates for the shares or tender the
shares pursuant to the procedures for book-entry transfer described in the Offer
to Purchase and Letter of Transmittal. Any shareholder who desires to tender
shares and whose certificates for the shares are not immediately available or
who cannot comply with the procedure for book-entry transfer on a timely basis
or whose other required documents cannot be delivered to the Depositary by the
expiration of the offer should tender the shares by following the procedures for
guaranteed delivery set forth in the Offer to Purchase.

Any questions or requests for assistance or additional copies of the enclosed
materials may be directed to Georgeson Shareholder Communications Inc., the
Information Agent, at its address and telephone number set forth on the back
cover of the enclosed Offer to Purchase.

                                    Very truly yours,

                                    GEORGESON SHAREHOLDER SECURITIES CORPORATION

NOTHING CONTAINED IN THIS DOCUMENT OR IN THE ENCLOSED DOCUMENTS WILL MAKE YOU OR
ANY OTHER PERSON THE AGENT OF KINROSS, THE PURCHASER, KINAM, THE DEALER
MANAGER, THE INFORMATION AGENT OR THE DEPOSITARY OR ANY AFFILIATE OF ANY OF THE
FOREGOING, OR AUTHORIZE YOU OR ANY OTHER PERSON TO USE ANY DOCUMENT OR MAKE ANY
STATEMENT ON BEHALF OF ANY OF THEM IN CONNECTION WITH THE OFFER EXCEPT THE
STATEMENTS EXPRESSLY MADE IN THE OFFER TO PURCHASE AND THE LETTER OF
TRANSMITTAL.

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