brio-gold

On December 23, 2016, Brio Gold became a standalone public company in which Yamana currently retains approximately 85% ownership.  The going public event was a milestone in the process to realize and maximize value from certain Brazilian assets.

On March 6, 2017, Yamana announced that it had completed a secondary offering by private placement of 6,000,000 common shared of Brio Gold Inc. Yamana now holds 89,202,922 Brio shares, representing 79.3% of the issued and outstanding Brio shared or 75.3% on a fully diluted basis. 

Brio Gold has three operating mines (Pilar, Fazenda Brazileiro and Riacho dos Machados) and is advancing the re-commissioning of another (Santa Luz). In 2016, Brio Gold produced approximately 190,000 ounces of gold on a 100%-basis and production is expected to increase to 223,000 - 243,000 ounces of gold on a 100%-basis in 2017.

 Further information on Brio Gold is available here

Disclaimer

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NON-GAAP INFORMATION

Yamana discloses certain non-GAAP measures including Cash costs per ounce of gold, Cash costs per ounce of silver, Co-product cash costs per ounce of gold, Co-product cash costs per ounce of silver, Co-product cash costs per pound of copper, All-in sustaining costs per ounce of gold, All-in sustaining costs per ounce of silver, All-in sustaining co-product costs per ounce of gold, and All-in sustaining co-product costs per ounce of silver to supplement its Consolidated Financial Statements, which are presented in accordance with IFRS. The term IFRS and generally accepted accounting principles (“GAAP”) are used interchangeably. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-GAAP measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

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