  TORONTO, April  10, 2026  (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX:K, NYSE:KGC) (the &#34;Company&#34;) received notification that TRC Capital Investment Corporation (&#34;TRC&#34;) has made an unsolicited &#34;mini-tender&#34; offer

Kinross recommends shareholders reject TRC Capital Investment's below-market "mini-tender" offer for common shares

Kinross Gold Urges Shareholders to Reject TRC Capital's Mini-Tender Offer

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>TORONTO, April  10, 2026  (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX:K, NYSE:KGC) (the &amp;#34;Company&amp;#34;) received notification that TRC Capital Investment Corporation (&amp;#34;TRC&amp;#34;) has made an unsolicited &amp;#34;mini-tender&amp;#34; offer</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>On April 7, 2026, TRC Capital proposed a mini-tender offer for Kinross Gold shares at a price significantly lower than the market price. Kinross strongly recommends shareholders reject the offer, which could impact investor confidence and share valuation.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>TRC Capital made an unsolicited mini-tender offer for KGC shares.</li><li>Offer price is C$41.75, 4.4% lower than recent closing price.</li><li>Kinross advises shareholders to reject this offer.</li><li>SEC warns about potential risks of mini-tender offers.</li><li>This offer represents only 0.21% of KGC&#039;s outstanding shares.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Kinross Gold Corporation (KGC)</strong>: Current mini-tender offer could affect investor perception and share price.</li><li><strong>TRC Capital Investment Corporation (N/A)</strong>: TRC&#039;s unsolicited offer might provoke regulatory scrutiny.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under &#039;Corporate Developments&#039; as it directly pertains to Kinross&#039;s shareholder interactions and external offers impacting corporate governance.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>KGC&#039;s share price could react negatively if shareholders accept the lower offer.</li><li>Investor sentiment might deteriorate due to mini-tender scrutiny.</li><li>Strong rejection position could support stock stability in the near term.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>TRC offers to buy 2.5 million shares at C$41.75 each.</li><li>C$41.75 is 4.4% below KGC&#039;s recent C$43.68 closing price.</li><li>The offer represents approximately 0.21% of KGC&#039;s outstanding shares.</li><li>The SEC advises caution regarding mini-tender offers.</li><li>Kinross is a significant player in the global gold mining sector.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>KGC shares may experience volatility; consider holding or selling short-term.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify" style="text-align: justify;"></p>  <p align="justify">TORONTO, April  10, 2026  (GLOBE NEWSWIRE) -- Kinross Gold Corporation (TSX:<a class="ticker" href="https://www.benzinga.com/quote/K">K</a>, NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KGC">KGC</a>) (the "Company") received notification that TRC Capital Investment Corporation ("TRC") has made an unsolicited "mini-tender" offer on April 7, 2026, to purchase up to 2.5 million common shares of Kinross, or approximately 0.21% of Kinross' shares outstanding, at a price of C$41.75 per share. Kinross strongly recommends that its shareholders reject this offer and cautions its shareholders that the offer made is approximately 4.4% below the closing price of C$43.68 per Kinross share on the Toronto Stock Exchange on April 6, 2026, the day before the offer.</p>  <p align="justify"><strong>Kinross does not endorse TRC's unsolicited mini-tender offer, and is not affiliated or associated in any way with TRC Capital Investment.</strong></p>  <p align="justify">TRC has made several similar unsolicited mini-tender offers for shares of other public companies. Mini-tender offers are designed to result in a holding of less than 5% of a company&#39;s outstanding shares, thereby avoiding disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. Both the Canadian Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) recommend that investors exercise caution with mini-tender offers and have expressed serious concerns about them, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities.</p>  <p align="justify">The SEC has issued "Tips for Investors" regarding mini-tender offers, noting that some bidders, in making the offers at below-market prices, are "hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price." The SEC's advisory can be found on its website at: <a href="https://www.globenewswire.com/Tracker?data=aYAQPL9g8jA8VgAeQxJdYzsc8GRLQ6lVod4HbHO9dxJ0NHG_oXTx_HTjSLyi2jnzkxFBY3zEzYVgQofyKHmFD4qpnQaqv1AFFx-BtJZ9t_Aff-sdiD9KLIZV1Okhy2ZSua0kHQVY4QmJmSCo4G6CZlQWVU4efe0aZWH04TgkRqU=" rel="nofollow" target="_blank">http://www.sec.gov/investor/pubs/minitend.htm</a>.</p>  <p align="justify">Information on the CSA's long-standing guidance on mini-tenders can be found on the Ontario Securities Commission website at: <a href="https://www.globenewswire.com/Tracker?data=BiRAiz-B9Xz0Du-QiCKPGJJIjtL9iZGZAYUWN5iW-A4iYWUtU_alOX_Lb47lL8VsV_G1CmZBKJMfizWMJLsgrw2dgmFfXq4YPQJIxYk4wRFX5RZIhgkMDLqLasyn5uTLR3_z2sVmAOCXnKOSXSJ28kA2Enx9z1KyqbmH72UB6d4TjXL-0eCIMDzFP-A7FabRf6zph-apiFmZ0wz-5B_8GoaKtfY7A2zWamXDnenaqjJeSmHys-KsFJC0tbTTjWFaz-ULaNs1ChZauWUsmgreN4Inxf6vn8hFhGJyHcqdGnU0qGWam54PAAAa8BXIa0ajlBHRXTh4uceOWiaZ-zfjqC5vxrSx1FfHpCU-9wfL73UllqMwlRAcUscx0SS0aSa4EJeax_VHZIkUC96HSfN3dA==" rel="nofollow" target="_blank">https://www.osc.ca/en/securities-law/instruments-rules-policies/6/61-301/csa-staff-notice-61-301-staff-guidance-practice-mini-tenders</a>.</p>  <p align="justify">Brokers, dealers and other market participants are encouraged to exercise caution and review the letter regarding broker-dealer mini-tender offer dissemination and disclosures on the SEC website at: <br></br><a href="https://www.globenewswire.com/Tracker?data=vR-wYVnqivQG29jhcBAnCfG9Lq9A2qtJt9bbPd4wOFAN_PNdgBJRsK0VxdkFWx9XL1bXhrYvFBE3_fv434bOznY6QVkV0A7UNu_5e61pJS4tiT60T-odI4-grsN65pL5fs8ETQiN0lsoVlBJSl_PwDEx7ivYbuHQfxtO7N2ni-0LJKf-zghle2lgpIXK38vWNnzYjHk4nByaP8w0PUvkzw==" rel="nofollow" target="_blank">www.sec.gov/divisions/marketreg/minitenders/sia072401.htm</a>.</p>  <p align="justify">Kinross requests that a copy of this news release be included with any distribution of materials relating to TRC's mini-tender offer for Kinross shares.</p>  <p align="justify"><strong>About Kinross Gold Corporation </strong></p>  <p align="justify">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).</p>  <p align="justify"><strong>Media Contact </strong><br></br>Samantha Sheffield<br></br><em>Director, Corporate Communications</em><br></br>phone: 416-365-3034<br></br><a href="https://www.globenewswire.com/Tracker?data=Mu6XDqm27LEJlbNFR2KwiXJVB7FXlyA1ZF0WpjlolDR6vIXS0-1q1_uorzxY_uniwf-wSo85Rz6Kqw-s4o1qw6i1rKS98VrSkqCigLa0RrqV8uK614_-wv4R9PwUAbSo" rel="nofollow" target="_blank">Samantha.Sheffield@Kinross.com</a></p>  <p align="justify"><strong>Investor Relations Contact</strong><br></br>David Shaver<br></br><em>Executive Vice-President, Investor Relations &amp; Communications</em><br></br>phone: 416-365-2854<br></br><a href="https://www.globenewswire.com/Tracker?data=yqg5bNGaSzaA5LzLFHElHjvn-6Rt5H44NwXmFVC9AhIBqGAImB7PpSf_GcWf_ovh-mhesBQW3TgWcMZQ3xvloZw2cACA7tnNosEIAJn7bFJSGxdpo23zUCArKcSJAagS" rel="nofollow" target="_blank">InvestorRelations@Kinross.com</a></p>  <p align="justify"><em>Source: Kinross Gold Corporation </em></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTY4Nzg4NiM3NTI5OTY0IzIyMDk5NjI="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/YmE1M2MwYWItM2IwMS00NTk5LTg1YjEtNjA3MzBjNzA2NWZlLTEyMjE1MTUtMjAyNi0wNC0xMC1lbg==/tiny/Kinross-Gold-Corporation.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/cc2b2d41-56bc-4e7d-9e0b-4ba2abe36e97"><img src="https://ml.globenewswire.com/media/cc2b2d41-56bc-4e7d-9e0b-4ba2abe36e97/small/kinross-jpg.jpg" border="0" width="150" height="43" alt="Primary Logo"></img></a></p>

On April 7, 2026, TRC Capital proposed a mini-tender offer for Kinross Gold shares at a price significantly lower than the market price. Kinross strongly recommends shareholders reject the offer, which could impact investor confidence and share valuation.

Kinross recommends shareholders reject TRC Capital Investment's below-market "mini-tender" offer for common shares

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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