Kinross announces ownership of shares of Allegiant Gold

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

Kinross Gold Corporation (" Kinross " or the " Company ") (TSX: K, NYSE: KGC) announced today that it has acquired deemed beneficial ownership of 5,018,017 common shares of Allegiant Gold Ltd. (" Allegiant ") issuable upon exercise of common share purchase warrants previously acquired by Kinross. The warrants were acquired as part of the previously announced investment in Allegiant completed on March 17, 2022. Pursuant to the investment, Kinross purchased 10,036,034 units of Allegiant, representing 9.9% of the issued and outstanding shares of Allegiant. Each unit was comprised of one common share and one-half of one common share purchase warrant (each, a " Unit ", and collectively, the " Units "). The Units were acquired for a purchase price of $0.40 per Unit, representing an aggregate purchase price of $4,014,414.00. The common shares held represent approximately 9.8% of the currently issued and outstanding Allegiant common shares and the Warrants provide deemed beneficial ownership of common shares representing approximately 4.7% of the currently issued and outstanding Allegiant common shares. Accordingly, as of today Kinross is the deemed beneficial owner of common shares representing approximately 14.0% of the issued and outstanding shares of Allegiant and is therefore required by applicable Canadian securities laws to issue this press release and file a corresponding early warning report.

Kinross acquired the Units as part of a strategic investment in the Issuer. Kinross may or may not purchase or sell securities of the Issuer in the future on the open market or in private transactions, depending on market conditions and other factors. Kinross currently has no other plans or intentions that relate to its investment in the Issuer. Depending on market conditions, general economic and industry conditions, the Issuer's business and financial condition and/or other relevant factors, Kinross may develop other plans or intentions in the future.

A copy of the early warning report filed by Kinross in connection with the investment will be available on Allegiant's profile on SEDAR at www.sedar.com . Alternatively, you may contact Luke Crosby, Vice President, Assistant 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. Allegiant's head office is located at 1090 Hamilton Street, Vancouver, British Columbia V6B 2R9.

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
Victoria Barrington
Senior Director, Corporate Communications
phone: 647-788-4153
victoria.barrington@kinross.com

Investor Relations Contact
Chris Lichtenheldt
Vice-President, Investor Relations
phone: 647-821-1736
chris.lichtenheldt@kinross.com

Cautionary statement on forward-looking information

All statements, other than statements of historical fact, contained in this news release constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and the provisions for "safe harbor" under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this news release. The words "may", "will", "plan" or variations of or similar such words and phrases or statements that certain actions, events or results may, could, should or will be achieved, received or taken, or will occur or result and similar such expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates, models and assumptions of Kinross referenced, contained or incorporated by reference in this news release, which may prove to be incorrect, include, but are not limited to, statements regarding the ownership and future intentions regarding securities of Allegiant. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant uncertainties and contingencies. These uncertainties and contingencies can affect, and could cause, Kinross' actual results to differ materially from those expressed or implied in any forward looking statements made by, or on behalf of, Kinross. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Kinross disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

Source: Kinross Gold Corporation


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

K:CA,KGC
The Conversation (0)
Canadian Gold Corp. Private Placement Offering for New Hammond Reef South Program to Follow up 2024 Surface Samples That Returned 35.4 g/t Gold

Canadian Gold Corp. Private Placement Offering for New Hammond Reef South Program to Follow up 2024 Surface Samples That Returned 35.4 g/t Gold

Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce plans for a follow-up program on the discovery of the new high-grade zone (announced August 6, 2024), that returned 35.4 gt and 7.1 gt gold from surface samples at the Company's 100%-held Hammond Reef South property, located near Atikokan, Ontario. The Company's properties are adjacent to Agnico Eagle's fully permitted Hammond Reef Project, which contains a mineral resource of more than 5 million ounces of gold and occurs in the same geological environment (Fig. 1).

Hammond Reef South was acquired in 2023 as part of the Company's strategy to acquire prospective mineral rights around Canada's largest mines and development projects. The Company's 2024 programs at Hammond Reef South outlined a mineralization stock work vein system having a minimum strike length of 80 metres with widths of up to 20 metres (Fig. 2). A channel sample across the vein system returned 3.3 g/t gold over 1.05 metres, including 6.42 g/t gold over 0.45 metres. New sampling 80 metres north of the original discovery, and before going under a swamp, returned 11.6 g/t gold from surface sampling (announced September 25, 2024). The proximity of this vein system appears to fall within a potential mineral system over a 6.7 km gold trend that passes through the property (Fig. 3).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Kobo Resources Intersects 21.5 m at 1.14 g/t Au and 20.0 m at 1.41 g/t Au at the Jagger Zone and Files FY 2025 Financial Results

Kobo Resources Intersects 21.5 m at 1.14 g/t Au and 20.0 m at 1.41 g/t Au at the Jagger Zone and Files FY 2025 Financial Results

  • All reported holes intersected gold mineralization, reinforcing continuity and improving structural understanding at the Jagger Zone
  • Results support   the Company's systematic exploration and targeting approach for further resource definition at Kossou

Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to announce additional diamond drill results from the ongoing exploration program at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from the Jagger Zone continue to confirm broad zones of mineralisation and extend the footprint of gold-bearing structures along strike and at depth.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Auric Mining (ASX:AWJ)

Munda Gold Mine Mining Progresses: First Blast

Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to provide an update on mining of the Starter Pit at the Munda Gold Mine, 5km from Widgiemooltha, Western Australia.

Keep reading...Show less
Gold letters spelling "Fed" in front of a pile of gold dollar coins and US flag.

Gold Price, Equities Flat as Fed Leaves Rates Unchanged​

The US Federal Reserve held its fourth meeting of 2025 from Tuesday (June 17) to Wednesday (June 18) against a backdrop of trade tensions, spurred on by the Trump administration's tariffs.

The central bank met analysts’ expectations by holding its benchmark rate in the 4.25 to 4.5 percent range.

Chair Jerome Powell stated that the Fed's dual mandate of maximum employment and stable prices remains in balance, noting that the US economy is solid. He added that the labor market is not a source of inflationary pressures.

Keep reading...Show less
Harvest Gold (TSXV:HVG)

Harvest Gold

Keep reading...Show less

Latest Press Releases

Related News

×