Yamana udates on La Pepa, Jeronimo and Amancaya

Yamana Gold Inc., a leading Canadian-based gold mining company with significant gold and copper production, gold development stage properties, exploration properties and land positions throughout North and South America, announced resource estimates and updates for La Pepa, Jeronimo and Amancaya.

The company has completed its first resource estimate of the Cavancha area of the La Pepa project, which is located in Chile’s prolific Maricunga gold. This resource estimate was prepared based on reverse circulation and diamond drilling, with a total of 107 drill holes (92 reverse circulation and 15 diamond drills).

Measured and Indicated Resources are estimated at 1.985 million contained ounces of gold.

Yamana holds a 57% controlling and operating interest in the Jeronimo project, while the remaining 43% is held by Corporacion Nacional del Cobre de Chile (Codelco). Jeronimo is located in Region II of northern Chile. The Company completed an update to the resource estimate for this project.

Indicated resources for the Jeronimo project are estimated at 627,000 contained ounces of gold (3.88 million tonnes grading 5.02 g/t). Inferred resources for the Jeronimo project add an additional 1.53 million contained ounces of gold (11.7 million tonnes grading 4.07 g/t). For the purpose of this mineral resource, a cut-off grade of 2.0 g/t has been used. The table below estimates the mineral resources at various cut-off grades.

The Amancaya deposit is located approximately 160 kilometres south of the El Penon mine. Yamana is evaluating Amancaya as a stand alone project or in conjunction with the further expansion of El Penon.

At a 1.0 g/t gold equivalent (AuEq) cut-off grade for the potential open pit resources and a 3.4 g/t AuEq cut-off grade for the underground resources, inferred mineral resources is estimated at 407,000 contained ounces of AuEq at a grade of 9.1 g/t AuEq. This is comprised of 351,000 contained ounces of gold and 3,270,000 ounces of silver in 1.4 million tonnes at an average grade of approximately 7.9 g/t Au and 73 g/t Ag, respectively. The silver to gold conversion ratio used is 65:1 using reasonable long term metal prices, costs and recoveries.