Update on Kinross Offer-Kinross Now Owns 81.6% of Underworld Shares

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES

Underworld Resources Inc. ("Underworld") (TSX VENTURE:UW) is pleased to announce
that pursuant to the news release of Kinross Gold Corporation ("Kinross") issued
on April 26th, Kinross has taken up and paid for an additional 38,744,878 common
shares of Underworld ("Underworld Shares") under its offer to acquire all of the
outstanding Underworld Shares. As a result of this acquisition, Kinross now
beneficially owns a total of 42,663,059 Underworld Shares, or 81.6% of the
issued and outstanding Underworld Shares on a fully diluted basis. Following
completion of the exchange of the outstanding Underworld employee stock options
for replacement Kinross stock options in the manner contemplated by the terms of
the Kinross offer, a process that is expected to be completed shortly, this will
represent approximately 87.0% of the issued and outstanding common shares on a
fully-diluted basis.


ON BEHALF OF THE BOARD OF DIRECTORS

Adrian Fleming, President and Chief Executive Officer

Forward-Looking Information

Some of the information contained in this news release is forward-looking, in
particular the description of the exchange of Underworld stock options for
Kinross stock options. Forward-looking information is subject to risks and
uncertainties beyond Underworld's control, including, but not exclusively, the
risk that such exchange of options may not occur. As such, you are advised not
to place undue weight on forward-looking information. Other than as required by
law, Underworld undertakes no obligation to update its forward-looking
information.