Kinross Announces to acquire Underworld Resources

Kinross Gold Corporation (TSX:K)(NYSE:KGC) and Underworld Resources Inc. (TSX VENTURE:UW) reported that the companys have entered into a letter agreement whereby Kinross would offer to acquire 100% of the outstanding common shares of Underworld by way of a friendly take-over bid, other than the 8.5% of the Common Shares already owned by Kinross.

The press release is quoted as saying:

Kinross is a Canadian-based gold mining company with mines and projects in the United States, Brazil, Chile, Ecuador and Russia, employing approximately 5,500 people worldwide.

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