3 1 echoform3.txt ------------------------------ OMB APPROVAL ------------------------------ OMB Number Expires: Estimated average burden hours per response ....... 0.5 ------------------------------ U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 3 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 -------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* KINROSS GOLD CORPORATION -------------------------------------------------------------------------------- (Last) (First) (Middle) SUITE 5200, 40 KING STREET WEST -------------------------------------------------------------------------------- (Street) TORONTO ONTARIO M5H 3Y2 -------------------------------------------------------------------------------- (City) (State) (Zip) -------------------------------------------------------------------------------- 2. Date of Event Requiring Statement SEPTEMBER 5, 2001 -------------------------------------------------------------------------------- 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) -------------------------------------------------------------------------------- 4. Issuer Name and Ticker or Trading Symbol ECHO BAY MINES LTD.; ECO -------------------------------------------------------------------------------- 5. Relationship of Reporting Person to Issuer (Check all applicable) [_] Director [X] 10% Owner [_] Officer (give title below) [_] Other (specify below) CONTROLLER -------------------------------------------------------------------------------- 6. If Amendment, Date of Original (Month/Day/Year) N/A -------------------------------------------------------------------------------- 7. Individual or Joint/Group Filing (Check applicable line) [X] Form Filed by One Reporting Person [_] Form Filed by More than One Reporting Person

================================================================================ Table I -- Non-Derivative Securities Beneficially Owned ================================================================================ 3. Ownership Form: 2. Amount of Securities Direct (D) or 1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect (Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5) ---------------------------------------------------------------------------------------- NONE ---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------

-------------------------------------------------------------------------------- If the Form is filed by more than one Reporting Person, see Instruction 5(b)(v). Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================ 5. Owner- 3. Title and Amount of Securities ship Underlying Derivative Security Form of 2. Date Exercisable (Instr. 4) Derivative and Expiration Date ------------------------------ 4. Conver- Security: (Month/Day/Year) Amount sion or Direct 6. Nature of 1. Title of ------------------- or Exercise (D) or indirect Derivative Date Expira- Number Price of indirect Beneficial Security Exer- tion of Derivative (I) Ownership (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5) -------------------------------------------------------------------------------------------------------------------------- EXCHANGEABLE (1) N/A COMMON SHARES(1) 57,126,674 (1) D -------------------------------------------------------------------------------------------------------------------------- CAPITAL -------------------------------------------------------------------------------------------------------------------------- SECURITIES -------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------- Explanation of Responses: On September 5, 2001, the Reporting Person entered into a Letter Agreement with the Issuer with respect to the Reporting Person's holding of 15.8% of the Issuer's capital securities (which are not registered under Section 12 of the Securities and Exchange Act of 1934) outstanding. The Reporting Person has agreed to exchange the Issuer's capital securities owned by the Reporting Person for 57,126,674 common shares of the Issuer. Completion of the transaction is subject to certain conditions including (i) 90% of the remaining capital security holders must agree, prior to the mailing of proxy solicitation materials by the Issuer to its shareholders, to exchange on the same terms as the Reporting Person (ii) the Issuer's lenders must consent under their syndicated bank loans to the exchange, (iii) the approval of the exchange by the holders of the common shares of the Issuer and (iv) any necessary regulatory approvals must be received. Assuming all holders of the Issuer's capital securities elect to exchange and all of the foregoing conditions are met, the Reporting Person would own 11.4% of the common shares of the Issuer.

KINROSS GOLD CORPORATION /s/ SHELLEY M. RILEY SEPTEMBER 13, 2001 --------------------------------------------- ----------------------- **Signature of Reporting Person Date Shelley M. Riley, Secretary ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.