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.

Click here to access the entire press release ^[1]

Click here to access Kinross Corporate Site ^[2]