On February 17, Minister Stephen Lecce announced the Ontario government is accelerating Kinross Gold Corporation's Great Bear Project under the One Project, One Process' framework, the first gold mine and the third project overall to be accepted under the new framework launched this past October. As part of its plan to protect Ontario workers and communities, the government is unlocking the full potential of the province's metals and mining sector through the new framework, with this project marking another key step in building a fully integrated and self-reliant mining supply chain. The project represents a more than $5 billion capital investment and is expected to create 900 jobs during its operational life, with peak employment reaching 1,100 workers. Thousands of additional construction and indirect jobs will also be created during the build-out phase in 2027 to 2029, delivering new economic opportunities to the region.

"At a time of global economic uncertainty, Ontario is choosing to build -- to build faster, to build more at home, and to build Canada's self-reliance," said Stephen Lecce, Minister of Energy and Mines. "Ontario is proud to designate this project under One Project, One Process,' unlocking one of Canada's largest mines that will create over 1,000 jobs good-paying jobs. By fast-tracking Kinross Gold's Great Bear Project, we're getting shovels in the ground, proving that world-class projects can be built with speed and in partnership. Ontario's accelerated permitting regime, reliable energy, and skilled workforce is positioning our province as the world's most attractive and predictable investment opportunity."

Located 24 kilometres southeast of Red Lake in northwestern Ontario, a town with a long mining history, the Great Bear Project is a high-grade combined open-pit and underground mine with an initial mine life of 12 years. This project is cornerstone of Kinross' global development portfolio and has potential to become one of Canada's premier gold operations. Kinross' preliminary economic assessment outlines a high-grade operation producing an average of over 500,000 ounces of gold per year at its peak and a potential for 5.3 million ounces of initial production, with longer-term expansion potential supported by an ongoing regional exploration program.

"The One Project, One Process' designation marks an important milestone for the Great Bear Project and reflects Ontario's leadership in creating the right conditions for responsible, long-term mining investment," said J. Paul Rollinson, CEO of Kinross Gold. "For Kinross, this designation facilitates a more integrated and streamlined path forward as we advance the permitting of this world-class mine towards commercial production in consultation with Indigenous communities. Great Bear is a generational asset and positioned to become one of Canada's largest and most profitable gold mines once operational. We look forward to continuing our close collaboration with the province of Ontario and Indigenous communities to advance this project in a way that delivers significant economic and employment benefits for Indigenous communities, our stakeholders, and the broader economy."

This designation complements other work underway in the Red Lake region to unlock economic growth and opportunity including the consultation on the Red Lake Transmission Line, a proposed line that would run from Dryden to Red Lake to power new mines and growing communities.

Ontario's previous outdated, fragmented permitting system caused delays of up to 15 years to open a mine - holding back investment, job creation and access to critical and strategic minerals. The 1P1P framework is a coordinated, whole-of-government approach to streamline permitting approvals, end bureaucratic delays, and attract global investment. Through 1P1P, the Ministry of Energy and Mines acts as a single point of contact to coordinate all necessary provincial approvals and Indigenous consultation to reduce government review time by 50 per cent. This will provide operators and investors the certainty and predictability needed to get new mines open faster and secure Ontario's position as a global leader in responsible, fast-tracked mining development.

The Crown's duty to consult obligation remains fully upheld under 1P1P. The new framework provides a more coordinated and transparent approach to consultation with Indigenous communities. Ontario continues to encourage meaningful participation through employment, training, and partnerships. Kinross is focused on working in close cooperation with First Nations partners on baseline studies, site planning, and future opportunities as the project advances.

Quotes

"Today's announcement of Kinross Gold Corporation's Great Bear Project through the One Project, One Process' framework reaffirms this government's commitment to advancing mineral development in Red Lake and across Northwestern Ontario. This advancement will create hundreds of immediate full-time jobs through the construction phase and hundreds of more full-time employment opportunities once the mine is operational. Minister Lecce's leadership and his continued efforts to support and advance important provincial developments with resources in the Red Lake District does not go unnoticed. The Minister's work with the inclusion of new electricity transmission infrastructure to expand Red Lakes energy grid also represents a significant investment in the future of our region - supporting sustainable growth and resource development such as the Great Bear Project. We appreciate Minister Lecce's leadership and continued efforts to advance these projects in collaboration with our First Nations partners. The Municipality of Red Lake looks forward with continuation of our work alongside the Province of Ontario, to unlock the full potential of our region and strengthen the foundation for long-term economic development."

- Fred Mota, Mayor, Municipality of Red Lake

"The advancement of Kinross Gold's Great Bear Project under the One Project, One Process' framework is an important step in unlocking Northwestern Ontario's minerals and mining potential. Streamlining approvals while upholding strong environmental oversight and Indigenous consultation will be key to moving responsible projects forward. This development represents significant opportunity for regional job creation, supply chain growth, and long-term economic benefit for surrounding municipalities and First Nations partners. NOMA looks forward to continued collaboration with the province, industry, and Indigenous communities to ensure projects like Great Bear deliver lasting prosperity across Northwestern Ontario."

- Rick Dumas, President Northwestern Ontario Municipal Association

"The Ontario Mining Association welcomes this latest step toward a coordinated permitting approach, which will unlock economic opportunities in Northwestern Ontario, bolster investor confidence, and reinforce the many benefits of responsible mining, including job creation, local business growth, and regional economic resilience, while strengthening Ontario's position as a global leader."

- Priya Tandon, President, Ontario Mining Association

"The Great Bear Project's designation under the One Project, One Process' framework will help unlock mineral development, create high-quality jobs, and drive economic growth in northwestern Ontario and beyond. At NORCAT, we are committed to delivering the skills development that will equip Ontario workers to succeed in projects like Great Bear and strengthen our province's position as a global leader in responsible mining."

- Jason Bubba, Chief Operating Officer, NORCAT

"Major developments like the Great Bear Project represent significant opportunities for northwestern Ontario. With our campus in Red Lake, Confederation College is well positioned to support workforce development in the area where this project will operate. We have a strong history of working with mining partners, Indigenous communities, and government to deliver training that responds directly to industry needs. As projects advance under the One Project, One Process' framework, we are ready to help build the skilled local workforce that will support long-term economic growth and regional prosperity."

- Michelle Salo, President, Confederation College

"Canadian Manufacturers & Exporters (CME) welcomes the government's decision to advance Kinross Gold's Great Bear Project under the One Project, One Process' framework. For manufacturers, timely and predictable permitting is essential to making long-term investment decisions, securing supply chains, and remaining competitive in a challenging global environment. By streamlining approvals while fully upholding Indigenous consultation, Ontario is providing the regulatory certainty businesses need to unlock investment, create good jobs, and strengthen a resilient, Made-in-Ontario critical minerals and manufacturing supply chain."

- Dennis Darby, President & CEO, Canadian Manufacturers & Exporters (CME)

"The Economic Developers Council of Ontario (EDCO) welcomes the government's decision to designate Kinross Gold Corporation's Great Bear Project under the One Project, One Process framework. Clear, coordinated approvals play an important role in helping communities advance responsible projects, attract investment, and create lasting employment opportunities. This designation supports economic growth in northwestern Ontario, strengthens the province's minerals supply chain, and reinforces Ontario's reputation as a competitive jurisdiction for sustainable resource development in partnership with Indigenous communities."

- Jeff Loney, President, Economic Developers Council of Ontario

"This is welcomed news for MineConnect members. Streamlined permitting helps Ontario's mining supply and services companies prepare, invest, and deliver the expertise projects like Kinross depend on."

- Marla Tremblay, Executive Director, MineConnect

"The Ontario Prospectors Association applauds the designation of Kinross Gold's Great Bear Project under the One Project, One Process' framework. This signals Ontario's commitment to unlocking its world-class mineral potential and strengthening Canada's economic sovereignty. Continued government investment in early-stage exploration will ensure a robust project pipeline, keeping Ontario at the forefront of responsible mineral development while mitigating risk and reducing costly delays."

- Steve Virtue, Interim CEO, Ontario Prospectors Association

Additional Resources

• One Project, One Process framework