reserves-and-resources

Definitions

  • Mineral Resource

The term “Mineral Resource” means a concentration or occurrence of diamonds, natural solid inorganic material or natural solid fossilized organic material including base and precious metals, coal, and industrial minerals in or on the Earth’s crust in such form and quantity and of such grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge. Mineral Resources are subdivided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories.

  • Inferred Mineral Resource

The term “Inferred Mineral Resource” means that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

  • Indicated Mineral Resource

The term “Indicated Mineral Resource” means that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics, can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.

  • Measured Mineral Resource

The term “Measured Mineral Resource” means that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity.

  • Mineral Reserve

The term “Mineral Reserve” means the economically mineable part of a Measured or Indicated Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A Mineral Reserve includes diluting materials and allowances for losses that may occur when the material is mined.

  • Probable Mineral Reserve

The term “Probable Mineral Reserve” means the economically mineable part of an Indicated Mineral Resource and, in some circumstances, a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified.

  • Proven Mineral Reserve

The term “Proven Mineral Reserve” means the economically mineable part of a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction is justified.

2016 MINERAL RESERVES

The following table sets forth the Mineral Reserve estimates for the Company’s mineral projects as at December 31, 2016. See the qualified persons list below.

  • Gold
  • Gold
Proven Mineral Reserves Probable Mineral Reserves Total Proven & Probable
Tonnes
(000’s)
Grade
(g/t)
Contained
oz (000’s)
Tonnes
(000’s)
Grade
(g/t)
Contained
oz (000’s)
Tonnes
(000’s)
Grade
(g/t)
Contained
oz (000’s)
Alumbrera (12.5%) 5,000 0.39 63 525 0.36 6 5,525 0.39 69
Canadian Malartic (50%) 25,560 0.95 785 76,274 1.13 2,764 101,834 1.08 3,548
Cerro Morro 0 0 0 1,954 11.38 715 1,954 11.38 715
Chapada 300,273 0.19 1,809 318,064 0.22 2,273 618,336 0.21 4,081
El Peñón 484 6.82 106 6,032 4.88 946 6,516 5.02 1,053
Gualcamayo 10,123 1.22 398 8,093 1.37 355 18,216 1.29 754
Jacobina 2,335 2.04 154 18,256 2.95 1,731 20,592 2.85 1,885
Jeronimo (57%) 6,350 3.91 798 2,331 3.79 284 8,681 3.88 1,082
Minera Florida Ore 845 3.66 99 2,936 3.44 324 3,781 3.49 424
Minera Florida Tailings 1,474 0.94 44 0 0.00 0 1,474 0.94 44
Total Minera Florida 2,319 1.93 144 2,936 3.44 324 5,255 2.77 468
Upper Beaver (50%) 0 0.00 0 3,996 5.43 698 3,996 5.43 698
Yamana Total Gold Mineral Reserves 352,444 0.38 4,256 438,461 0.72 10,096 790,906 0.56 14,353
Brio Gold Mineral Reserves (79.3%) 24,603 1.65 1,304 26,643 1.20 1,024 51,246 1.41 2,327
Total Gold Reserves 377,048 0.46 5,560 465,104 0.74 11,120 842,152 0.62 16,680
Agua Rica 384,871 0.25 3,080 524,055 0.21 3,479 908,926 0.22 6,559
  • Silver
  • Silver
Proven Mineral Reserves Probable Mineral Reserves Total Proven & Probable
Tonnes
(000’s)
Grade
(g/t)
Contained
oz (000’s)
Tonnes
(000’s)
Grade
(g/t)
Contained
oz (000’s)
Tonnes
(000’s)
Grade
(g/t)
Contained
oz (000’s)
Cerro Moro 0 0.00 0 1,954 648.3 40,723 1,954 648.2 40,723
El Peñón 484 154.2 2,400 6,032 173.8 33,709 6,516 172.4 36,109
Minera Florida Ore 845 23.4 636 2,936 23.1 2,178 3,781 23.1 2,813
Minera Florida Tailings 1,474 13.6 645 0 0.0 0 1,474 13.6 645
Total Minera Florida 2,319 17.2 1,281 2,936 23.1 2,178 5,255 20.5 3,458
Yamana Total Silver Mineral Reserves 2,803 40.8 3,681 10,922 218.2 76,609 13,725 182.0 80,290
Agua Rica 384,871 3.7 46,176 524,055 3.3 56,070 908,926 3.5 102,246
  • Copper
  • Copper
Proven Mineral Reserves Probable Mineral Reserves Total Proven & Probable
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Alumbrera (12.5%) 5,000 0.24 26 525 0.17 2.0 5,525 0.23 28
Chapada 300,273 0.26 1,745 259,194 0.26 1,503 559,466 0.26 3,248
Upper Beaver (50%) 0 0.00 0 3,996 0.25 22 3,996 0.25 22
Yamana Total Copper Mineral Reserves 305,273 0.26 1,771 263,715 0.26 1,527 568,987 0.26 3,298
Agua Rica 384,871 0.56 4,779 524,055 0.43 5,011 908,926 0.49 9,790
  • Zinc
  • Zinc
Proven Mineral Reserves Probable Mineral Reserves Total Proven & Probable
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Minera Florida Ore 845 2.47 46 2,936 1.09 71 3,781 1.40 117
Minera Florida Tailings 1,474 0.58 19 0 0.00 0 1,474 0.58 19
Total Zinc Mineral Reserves 2,319 1.27 65 2,936 1.09 71 5,255 1.17 136
  • Molybdenum
  • Molybdenum
Proven Mineral Reserves Probable Mineral Reserves Total Proven & Probable
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Alumbrera (12.5%) 5,000 0.004 0.39 525 0.001 0.01 5,525 0.003 0.40
Yamana Total Moly Mineral Reserves 5,000 0.004 0.39 525 0.001 0.01 5,525 0.003 0.40
Agua Rica 384,871 0.033 279 524,055 0.030 350 908,926 0.031 629
Scroll Left to Right for Full Table

2016 MINERAL RESOURCES (Measured, Indicated & Inferred)

  • Gold
  • Gold
Measured Mineral Resources Indicated Mineral Resources Total Measured & Indicated Inferred Mineral Resources
Tonnes
(000’s)
Grade
(g/t)
Contained
oz. (000’s)
Tonnes
(000’s)
Grade
(g/t)
Contained
oz. (000’s)
Tonnes
(000’s)
Grade
(g/t)
Contained
oz. (000’s)
Tonnes (000’s) Grade
(g/t)
Contained oz. (000’s)
Alumbrera (12.5%) 5,000 0.28 46 350 0.21 2 5,350 0.28 48 500 0.27 4
Amalgamated Kirkland (50%) - - - 634 6.51 133 634 6.51 133 1,187 5.32 203
Anoki-McBean (50%) - - - 934 5.33 160 934 5.33 160 1,263 4.70 191
Arco Sul - - - - - - - - - 5,000 4.02 646
Canadian Malartic (50%) 2,001 1.34 86 11,121 1.56 559 13,122 1.53 644 14,942 1.93 929
Cerro Moro - - - 3,321 2.23 238 3,321 2.23 238 4,427 1.96 279
Chapada 28,094 0.18 162 186,816 0.29 1,727 214,911 0.27 1,889 98,629 0.27 870
El Peñón 557 9.83 176 2,645 5.32 452 3,202 6.10 628 6,372 6.90 1,413
Gualcamayo 15,933 1.63 836 30,628 2.01 1,979 46,561 1.88 2,815 26,204 1.97 1,656
Hammond Reef (50%) 82,831 0.70 1,862 21,377 0.57 388 104,208 0.67 2,251 251 0.72 6
Jacobina 13,953 2.28 1,021 19,508 2.58 1,616 33,461 2.45 2,637 15,350 3.14 1,549
Jeronimo (57%) 772 3.77 94 385 3.69 46 1,157 3.74 139 1,118 4.49 161
La Pepa 15,750 0.61 308 133,682 0.57 2,452 149,432 0.57 2,760 37,900 0.50 620
Lavra Velha - - - - - - - - - 3,934 4.29 543
Minera Florida 1,320 6.07 258 3,992 5.07 651 5,312 5.32 909 5,882 5.35 1,012
Monument Bay - - - 36,581 1.52 1,787 36,581 1.52 1,787 41,946 1.32 1,781
Suyai - - - 4,700 15.00 2,286 4,700 15.00 2,286 900 9.90 274
Upper Beaver (50%) - - - 1,818 3.45 202 1,818 3.45 202 4,344 5.07 708
Yamana Total Gold Mineral Resources 166,211 0.91 4,849 458,492 1.00 14,678 624,704 0.97 19,526 270,149 1.48 12,845
Brio Total Gold Mineral Resources (79.3%) 6,644 2.32 495 18,766 1.89 1,138 25,410 2.00 1,633 26,632 2.56 2,194
Total Gold Resources 172,855 0.96 5,344 477,258 1.03 15,816 650,114 1.01 21,159 296,781 1.58 15,039
Agua Rica 27,081 0.14 120 173,917 0.14 776 200,998 0.14 896 642,110 0.12 2,444
  • Silver
  • Silver
Measured Mineral Resources Indicated Mineral Resources Total Measured & Indicated Inferred Mineral Resources
Tonnes
(000’s)
Grade
(g/t)
Contained
oz. (000’s)
Tonnes
(000’s)
Grade
(g/t)
Contained
oz. (000’s)
Tonnes
(000’s)
Grade
(g/t)
Contained
oz. (000’s)
Tonnes (000’s) Grade
(g/t)
Contained oz. (000’s)
Cerro Moro - - - 3,321 190.3 20,313 3,321 190.3 20,313 4,427 101.3 14,415
Chapada - - - 82,161 1.4 3,775 82,161 1.4 3,775 27,553 1.1 982
El Peñón 557 246.6 4,415 2,645 200.7 17,068 3,202 208.7 21,484 6,372 263.7 54,025
Minera Florida 1,320 42.5 1,806 3,992 28.9 3,704 5,312 32.3 5,510 5,882 30.2 5,704
Suyai - - - 4,700 23.0 3,523 4,700 23.0 3,523 900 21.0 575
Yamana Total Silver Mineral Resources 1,877 103.1 6,221 96,819 15.5 48,384 98,696 17.2 54,604 45,134 52.2 75,701
Agua Rica 27,081 2.4 2,042 173,917 2.9 16,158 200,998 2.8 18,200 642,110 2.3 48,124
  • Copper
  • Copper
Measured Mineral Resources Indicated Mineral Resources Total Measured & Indicated Inferred Mineral Resources
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes (000’s) Grade
(%)
Contained lbs (mm)
Alumbrera (12.5%) 5,000 0.28 31 350 0.23 2 5,350 0.28 33 500 0.15 2
Chapada 20,189 0.18 80 104,655 0.25 580 124,844 0.24 660 71,076 0.33 514
Upper Beaver (50%) - - - 1,818 0.14 6 1,818 0.14 6 4,344 0.20 19
Yamana Total Copper Mineral Resources 25,189 0.20 111 106,823 0.25 587 132,012 0.24 698 75,920 0.32 535
Agua Rica 27,081 0.45 266 173,917 0.38 1,447 200,998 0.39 1,713 642,110 0.34 4,853
  • Zinc
  • Zinc
Measured Mineral Resources Indicated Mineral Resources Total Measured & Indicated Inferred Mineral Resources
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes (000’s) Grade
(%)
Contained lbs (mm)
Minera Florida 1,320 2.31 67 3,992 1.62 143 5,312 1.79 210 5,882 1.26 163
Total Zinc Mineral Resources 1,320 2.31 67 3,992 1.62 143 5,312 1.79 210 5,882 1.26 163
  • Molybdenum
  • Molybdenum
Measured Mineral Resources Indicated Mineral Resources Total Measured & Indicated Inferred Mineral Resources
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes
(000’s)
Grade
(%)
Contained
lbs (mm)
Tonnes (000’s) Grade
(%)
Contained lbs (mm)
Alumbrera (12.5%) 4,625 0.014 1.40 350 0.013 0.10 4,975 0.014 1.50 125 0.014 0.04
Yamana Total Moly Mineral Resources 4,625 0.014 1.40 350 0.013 0.10 4,975 0.014 1.50 125 0.014 0.04
Agua Rica 27,081 0.049 29 173,917 0.037 142 200,998 0.039 172 642,110 0.034 480

Totals may not add up due to rounding
Note: Mineral Resources are exclusive of Mineral Reserves.

Yamana Gold Inc. Mineral Reserve and Mineral Resource Reporting Notes:

Metal Prices and Cut-off Grades:

Mine Mineral Reserves Mineral Resources
Anoki- McBean (50%) N/A $1,200 Au, 2.5 g/t Au cut-off.
Amalgamated Kirkland (50%) N/A $1,200 Au, cut-off grade at 2.5 g/t Au.
Alumbrera Projects (12.5%) $1,300 Au, $3.06 Cu. Open pit cut-off at 0.22% Cueq.
Metallurgical recoveries are 81.93% for Cu and 70.08% for Au for Alumbera Deposit.
$1,300 Au, 3.06 Cu. Open pit cut-off at 0.3 g/t Aueq.
Metallurgical recoveries are 59.97% for Cu and 57.88% for Au for Bajo El Duranzo Deposit
0.22% Cueq within economic envelope for Alumbera Deposit.
0.2 g/t Aueq within economic envelope for Bajo El Duranzo Deposit.
Arco Sul N/A 2.5 g/t Au cut-off.
Canadian Malartic (50%) $1,200 Au, cut-off grades range from 0.334 to 0.374 g/t Au.
Metallurgical recoveries for Au range from 82% to 96.7% dependent on zone.
$1,200 Au, cut-off grades range from 0.33 g/t Au inside pit and 1.0 g/t Au outside or below pit.
Cerro Moro $950 Au and $18.00 Ag, open pit cut-off at 3.4 g/t Aueq and underground cut-off at 6.2 g/t Aueq
Metallurgical recoveries are 95% for Au and 93% for Ag.
 1.0 g/t Aueq cut-off.
Chapada $1,200 Au, $2.75 Cu; $4.36 NSR cut-off (Main Pit, Corpo Sul and Cava Norte)
$900 Au; 0.2 g/t Au cut-off for oxide ore and 0.3 g/t Au cut-off for sulphide ore in Suruca Gold Project.
Metallurgical recoveries for Cu are 83% and Au ranges from 52% to 85% dependent on zone.
$1,500 Au, $3.50 Cu and $4.36 NSR cut-off out of pit for Chapada Mine.
0.2 g/t Au cut-off for oxide and 0.3 g/t Au cut-off for sulphide in Suruca Gold Project, 0.507 g/t Aueq for Sucupira.
El Peñón $1,150 Au, $18.00 Ag, Variable cut-off for underground. Reserves based on economic revenue
Metallurgical recoveries for Au ranges from 82% to 97% and Ag ranges from 56% to 95% dependent on zone.
3.9 g/t Aueq cut-off.
Gualcamayo $1,200 Au, reserves based on economic revenue with variable cut-offs.
Metallurgical recoveries for Au open pit ore range from 40% to 63% and 49% to 62% for Au underground ore.
$1,500 Au, open pit resources based $1,500 Au, 1.00 g/t Au cut-off underground.
Hammond Reef (50%) N/A $1,400 Au, open pit cut-off 0.32 g/t Au West Pit and 0.34 g/t Au East Pit.
Jacobina $950 Au; 1.45 g/t Au cut-off.
Metallurgical recovery for Au is 94%.
0.5 g/t Au cut-off underground, 1.5 g/t Au cut-off for Pindobacu.
Jeronimo (57%) $900 Au, 2.0 g/t Au cut-off.
Metallurgical recovery for Au is 86%.
2.0 g/t Au cut-off.
La Pepa N/A $780 Au, 0.30 g/t Au cut-off.
Lavra Velha N/A $1300 Au, $3.5Cu and 0.2g/t Au, 0.1% Cu cut-offs.
Minera Florida $1,200 Au, $19.00 Ag, $1.00 Zn. Reserves based on economic revenue with variable cut-offs.
Metallurgical recoveries are 85% for Au, 65% for Ag and 70% for Zn.
2.22 g/t Aueq cut-off.
Monument Bay N/A $1,200 Au , 0.4 and 0.7 g/t cutoff for open pit cutoff and 4.0 g/t Au cut-off for underground.
Suyai N/A 5.0 g/t Au cut-off.
Upper Beaver (50%)

US$1,200 Au, US$2.75 Cu. Reserves based on NSR cut-off of C$125.00/tonne.
Metallurgical recoveries are 95% for Au and 80% to 90% for Cu.

US$1,200 Au and US$2.75 Cu. Resources based on NSR cut-off of C$95.00/tonne.
Metallurgical recoveries are 95% for Au and 90% for Cu.
 Agua Rica

$1,000 Au, $2.25 lb Cu, $17.00 g/t Ag, $12.00 lb Mo.
Metallurgical recoveries are 84.9% for Cu, 52.7% for Au, 67.6% for Ag, 65.9% for Zn and 68.0% for Mo.

 0.2% Cu cut-off
Brio Projects (79.3%)    
C1-Santa Luz

$1,250/oz gold price; cut-off grades for dacite 0.49 g/t Au, for low carbonaceous 0.63 g/t Au and for high carbonaceous 0.65 g/t Au.
Metallurgical recovery of 90% for dacite ore, 81% for CARL ore and 78% for CARH ore.

$1,500 Pit 0.5 g/t Au cut-off for open pit and 1.5 g/t Au cut-off for C1 underground high grade ore.
Fazenda Brasileiro $1,200/oz gold price; 1.22 g/t Au cut-off for Underground and 0.5 g/t Au for open pit. A minimum mining width of 3.0 meters was used for underground design.
Metallurgical recovery of 87%.
$1,500 pit with 0.54 g/t Au cut-off for open pit and 1.00 g/t Au for underground.
Riacho dos Machados (MRDM) $1,250/oz gold price. Cut-off grades: 0.3 g/t Au for oxide. 0.4 g/t Au for transition, and 0.4 g/t for fresh rock.
Metallurgical recovery of 90%.
$1,500 Pit 0.35 g/t Au cut-off for open pit and 1.0 g/t Au underground.
Pilar $1,200 Au; 1.24 g/t Au cut-off for Pilar and 1.01 g/t Au for Maria Lazara, 0.62 g/t Au for 3 Buracos (open pit). A minimum mining width of 1.0 m for
Pilar and 1.4 m for Maria Lazara.
Metallurgical recovery for Au is 95%.
2.0 g/t Au cut-off for underground and $1,500 Pit, 0.5 g/t Au for open pit.

All Mineral Reserves and Mineral Resources have been calculated in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and NI 43-101, other than the estimates for the Alumbrera mine which have been calculated in accordance with the JORC Code which is accepted under NI 43-101.

All Mineral Resources are reported exclusive of Mineral Reserves.

Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

Mineral Reserves and Mineral Resources are reported as of December 31, 2016.

For the qualified persons responsible for the Mineral Reserve and Mineral Resource estimates, see the qualified persons chart below.


Property Qualified Persons for Mineral Reserves Qualified Persons for Mineral Resources  
Chapada

Luiz Pignatari, EDEM Engineer

 

Maruício Prado, MAIG, Yamana Gold Inc.

Felipe Machado de Araújo, Registered Member of the Chilean Mining Commission, Yamana Gold Inc.

El Peñón

Sergio Castro, Registered Member of the Chilean Mining Commission, Yamana Gold Inc.

 

Marcos Valencia A. P.Geo., Registered Member of Chilean Mining Commission, Yamana Gold Inc.

Christian Fuentes, Registered Member of the Chilean Mining Commission, Yamana Gold Inc.

Canadian Malartic

Donald Gervais, P. Geo., Canadian Malartic GP
Sylvie Lampron, Eng.,Canadian Malartic GP

Donald Gervais, P. Geo., Canadian Malartic GP

The scientific and technical information relating to the Chapada mine, El Peñón mine, Gualcamayo mine, Jacobina mining complex and Canadian Malartic mine contained in this website has been derived from, and in some instances is an extract from, or is based on the following technical reports. Copies of the technical reports are available electronically on SEDAR at www.sedar.com.

Chapada mine — “Technical Report on the Chapada Mine, Brazil” dated July 31, 2014, prepared by or under the supervision of Wayne W. Valliant, P. Geo., and Robert L. Michaud, P. Eng., of Roscoe Postle Associates Inc., who are qualified persons pursuant to National Instrument 43-101.

El Peñón mine — “Technical Report on the El Peñón Mine, Northern Chile” dated December 7, 2010, prepared by or under the supervision of Stuart E. Collins, P.E., and Chester M. Moore, P. Eng., of Roscoe Postle Associates Inc. and Kevin C. Scott, P. Eng., formerly with Roscoe Postle Associates Inc., who are qualified persons pursuant to National Instrument 43-101.

Gualcamayo mine — “Technical Report for Gualcamayo Project, San Juan, Argentina, Report for NI 43-101 pursuant to National Instrument 43-101 of the Canadian Securities Administrators” dated March 25, 2011, prepared by or under the supervision of Guillermo Bagioli, MAusIMM, of Metálica Consultores S.A., Marcelo Trujillo, formerly of Metálica Consultores S.A., Alvaro Vergara, MAusIMM, of Metálica Consultores S.A., Emerson Ricardo Re, MSc, MAusIMM, Corporate Manager R&R, Yamana Gold Inc., Marcos Eduardo Valencia Araya, P. Geo., Regional Resource Estimation Manager, Andes Exploration, Yamana Gold Inc. and Renato Petter, P. Eng., who are qualified persons pursuant to National Instrument 43-101.

Jacobina mining complex — “Technical Report on the Jacobina Mine Complex, Bahia State, Brazil” dated February 28, 2014 prepared by or under the supervision of Normand Lecuyer, P.Eng., and Chester M. Moore, P.Eng., of Roscoe Postle Associates Inc., who are qualified persons pursuant to National Instrument 43-101.

Canadian Malartic mine — “Technical Report on the Mineral Resource and Mineral Reserve Estimates for the Canadian Malartic Property” dated August 13, 2014, prepared by or under the supervision of Donald Gervais, P. Geo., Christian Roy, Eng., Alain Thibault, Eng., and Carl Pednault, Eng., of Canadian Malartic General Partnership, and Daniel Doucet, Eng of Agnico Eagle Mines Limited, who are qualified persons pursuant to National Instrument 43-101.

Disclaimer

You are now leaving the Yamana Gold Inc. website to go to an independent third party website. Yamana has no control over information at third party sites hyperlinked to this one. These links are being provided for the convenience of the users of this website and Yamana does not endorse and is not responsible or liable for the content, nature or reliability of any linked website or any link contained in a linked website. Yamana takes no responsibility for monitoring, updating, supplementing or correcting any information on any linked website and makes no representation or warranties regarding such information.

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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