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Market: TSX
Sector: Gold Mining
Epic: TSX:K
News: Latest news
Web Site: Kinross Gold Corp
Other Articles: 18-02-201029-01-201021-01-2010

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Kinross Gold Corp

Kinross Gold Corp

Kinross Gold Corporation was established in 1993 and has since grown to become the third largest primary gold producer in North America by reserves.  Based in Canada, with nine mines in stable countries including the United States, Brazil, Chile and Russia, Kinross employs more than 5,000 people worldwide
Friday, May 29, 2009

Kinross Gold invests $0.35 million in Millrock Resources

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Millrock Resources (TSX-V: MRO) announced that Kinross Gold Corporation (TSX:K)(NYSE:KGC) had invested C$350,000 through a private placement of 2,187,500 Units at C$0.16 cents per Unit. Each unit consists of one share and one half share purchase warrant with an exercise price of 21 cents for a period of two years.

Following the placement, Kinross Gold will hold a 6.46% stake in Millrock Resources.

"Millrock continues to march steadily forward, meeting corporate milestones in a timely manner despite challenging market conditions," stated President and CEO, Gregory Beischer. "The Company has acquired an excellent project portfolio, built an outstanding technical team, established itself as a strong Project Generator company, and continues to form partnerships with major mining companies. Millrock will use these funds to carry out reconnaissance surveys and property acquisitions in a particular area of mutual interest in Alaska, a state in which Kinross is a premier gold producer and in which Millrock has substantial expertise in the discovery and exploration of gold deposits."

Millrock Resources is a junior mineral exploration company focused on Alaska gold deposits and Arizona copper-gold porphyries.

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