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.

2015 MINERAL RESERVES

The following table sets forth the Mineral Reserve estimates for the Company’s mineral projects as at December 31, 2015. 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%) 3,125 0.35 35 63 0.29 1 3,188 0.35 36
Canadian Malartic (50%) 27,446 0.97 860 83,320 1.12 3,002 110,766 1.08 3,863
Cerro Morro 0 0 0 1,954 11.38 715 1,954 11.38 715
Chapada 263,900 0.20 1,738 315,621 0.23 2,380 579,521 0.22 4,118
El Peñón 805 7.05 183 8,288 4.78 1,273 9,093 4.98 1,456
Gucalmayo 11,284 1.32 479 14,446 1.05 488 25,730 1.17 967
Jacobina 2,689 2.03 176 19,042 2.97 1,819 21,731 2.86 1,995
Jeronimo (57%) 6,350 3.91 798 2,331 3.79 284 8,681 3.87 1,082
Mercedes 415 6.07 81 1,976 3.97 252 2,390 4.33 333
Minera Florida Ore 744 4.01 96 3,480 3.72 416 4,224 3.77 512
Minera Florida Tailings 2,982 0.88 84 0 0.00 0 2,982 0.88 84
Total Minera Florida 3,727 1.50 180 3,480 3.72 416 7,206 2.57 596
Yamana Gold Reserves 319,741 0.44 4,529 450,520 0.73 10,630 770,261 0.61 15,159
C1-Santa Luz 0 0.00 0 0 0.00 0 0 0.00 0
Fazenda Brasileiro 4,599 1.94 286 1,897 1.74 106 6,496 1.88 392
Pilar 390 4.09 51 3,916 2.31 291 4,306 2.47 352
Brio Gold Mineral Reserves 4,989 2.10 337 5,813 2.12 397 10,802 2.11 734
Total Gold Mineral Reserves 324,730 0.47 4,866 456,333 0.75 11,027 781,063 0.63 15,893
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 1,954 648.3 40,723
El Peñón 805 159.1 4,117 8,288 171.3 45,647 9,093 170.2 49,765
Mercedes 415 60.2 803 1,976 46.4 2,947 2,390 48.8 3,750
Minera Florida Ore 744 27.4 655 3,480 17.7 1,984 4,224 19.4 2,638
Minera Florida Tailings 2,982 12.7 1,221 0 0.0 0 2,982 12.7 1,221
Total Minera Florida 3,727 15.7 1,876 3,480 17.7 1,984 7,206 16.7 3,860
Total Silver Mineral Reserves 4,946 42.7 6.796 15,697 180.9 91,301 20,644 147.8 99,098
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%) 3,125 0.37 26 63 0.27 0.4 3,188 0.37 26
Chapada 263,900 0.27 1,555 256,751 0.26 1,478 520,651 0.26 3,033
Total Copper Mineral Reserves 267,025 0.27 1,581 256,814 0.26 1,478 523,839 0.26 3,059
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 744 1.63 27 3,480 1.66 127 4,224 1.65 154
Minera Florida Tailings 2,982 0.64 42 0 0.00 0 2,982 0.64 42
Total Zinc Mineral Reserves 3,727 0.84 69 3,480 1.66 127 7,206 1.23 196
  • 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%) 3,125 0.012 0.80 63 0.012 0.02 3,188 0.012 0.82
Total Moly Mineral Reserves 3,125 0.012 0.80 63 0.012 0.02 3,188 0.012 0.82
Agua Rica 384,871 0.033 279 524,055 0.030 350 908,926 0.031 629
Scroll Left to Right for Full Table

2015 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%) 10,250 0.30 99 563 0.22 4 10,813 0.30 103 125 0.22 1
Amalgamated Kirkland (50%) - - - 634 6.51 133 634 6.52 133 1,187 5.32 203
Arco Sul - - - - - - - - - 5,000 4.02 646
Canadian Malartic (50%) 1,752 1.32 74 11,079 1.55 550 12,831 1.51 625 4,494 1.47 213
Cerro Moro - - 3,321 2.23 238 3,321 2.23 238 4,427 1.96 279
Chapada 22,209 0.23 164 225,531 0.26 1,873 247,740 0.26 2,037 133,118 0.23 972
El Peñón 858 10.55 291 2,876 6.64 614 3,733 7.54 905 6,729 7.02 1,519
Gualcamayo 66,130 1.01 2,150 53,110 1.35 2,301 119,240 1.16 4,451 21,582 2.22 1,543
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 13,931 2.26 1,013 19,153 2.54 1,562 33,084 2.42 2,575 15,359 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
Mercedes 583 5.53 104 4,379 3.08 433 4,961 3.36 537 2,157 3.45 239
Minera Florida 1,179 6.11 231 3,912 5.05 636 5,091 5.30 867 5,281 5.50 933
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%) - - - 4,403 6.36 900 4,403 6.36 900 3,450 5.93 658
Yamana Total Gold Mineral Resources 216,244 0.92 6,390 525,687 0.96 16,204 741,931 0.95 22,593 288,958 1.31 12,141
C1 Santa Luz - - - 31,809 1.62 1,657 31,809 1.62 1,657 12,328 2.38 943
Fazenda Brasileiro 1,539 3.86 191 372 3.15 38 1,912 3.72 229 1,573 1.81 91
Pilar 266 5.07 43 3,715 2.65 316 3,981 2.81 360 18,668 3.40 2,041
Brio Total Gold Mineral Resources 1,805 4.04 234 35,896 1.74 2,011 37,701 1.85 2,246 32,569 2.94 3,075
Total Gold Mineral Resources 218,050 0.94 6,625 561,583 1.01 18,215 779,632 0.99 24,839 321,527 1.47 15,216
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 - - - 3,321 190.2 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 858 287.0 7,913 2,876 206.2 19,069 3,733 224.8 26,982 6,729 268.4 58,073
Mercedes 583 65.6 1,229 4,379 32.6 4,588 4,961 36.5 5,817 2,157 28.9 2,001
Minera Florida 1,179 45.2 1,713 3,912 25.7 3,238 5,091 30.3 4,952 5,281 29.7 5,050
Suyai - - - 4,700 23.0 3,523 4,700 23.0 3,523 900 21.0 575
Yamana Total Silver Mineral Resources 2,619 128.9 10,855 101,349 16.7 54,507 103,968 19.6 65,362 47,046 53.6 81,096
Agua Rica 27,081 2.3 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%) 10,250 0.31 70 563 0.25 3 10,813 0.31 73 125 0.23 1
Chapada 14,383 0.22 69 143,369 0.24 769 157,752 0.24 838 105,565 0.29 678
Upper Beaver (50%) - - - 4,403 0.36 34 4,403 0.36 34 3,450 0.42 32
Yamana Total Copper Mineral Resources 24,633 0.26 139 148,335 0.25 807 172,968 0.25 946 109,140 0.30 711
Agua Rica 27,081 0.45 266 173,917 0.38 1,447 200,998 0.39 1,714 642,110 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 1,179 2.07 54 3,912 1.60 138 5,091 1.71 192 5,281 1.48 173
Total Zinc Mineral Resources 1,179 2.07 54 3,912 1.60 138 5,091 1.71 192 5,281 1.48 173
  • 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%) 10,250 0.012 2.73 563 0.014 0.17 10,813 0.012 2.90 125 0.014 0.04
Yamana Total Moly Mineral Resources 10,250 0.012 2.73 563 0.014 0.17 10,813 0.012 2.90 125 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
Amalgamated Kirkland (50%) N/A $1,200 Au, cutoff grade at 2.5 g/t Au
Alumbrera (12.5%) $1,095 Au, $2.54 Cu, $5.87 Mo. Open pit cutoff at 0.22% CuEq.
Metallurgical recoveries are 83% for Cu and 71% for Au.
0.22% Cueq within economic envelope
Arco Sul N/A 2.5 g/t Au cutoff
Canadian Malartic (50%) $1,150 Au, Cutoff grades range from 0.345 to 0.351 g/t Au.
Metallurgical recoveries for Au range from 82% to 90% dependent on zone.
$1,150 Au, Cutoff grades range from 0.34 to 0.40 g/t Au inside pits and 1.0 g/t Au below Open 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 $1,150 Au, $3.00 Cu, $18.00 Ag; $5.17 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 $5.17 NSR cut-off out of pit for Chapada Mine (Main Pit, Corpo Sul, Cava Norte and Corpo NE)
0.2 g/t Au cut-off for oxide and 0.3 g/t Au cut-off for sulphide in Suruca Gold Project
El Peñón $1,150 Au, $18.00 Ag, Variable cut-off for Underground and 1.2 g/t Aueq cut-off for Open Pit
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 $1,150 Au: 1.49 g/t Au Cut-off UG: cut-offs for OP, 0.32 g/t Au for QDD Upper and 0.52 g/t Au for AIM
Metallurgical recoveries for Au open pit ore range from 40% to 63% and 63% for Au underground ore.
1.00 g/t Au Cut-off UG: cut-offs for OP, 0.20 g/t Au for QDD Upper and 0.5 g/t Au for AIM
Hammond Reef (50%) N/A $1,400 Au, Open pit cutoff 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 UG, 1.5 g/t Au cutoff 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
Mercedes $1,150 Au, $18.00 Ag, 3.0 g/t Aueq
Metallurgical recoveries are 94% for Au and 33% for Ag.
2.0 g/t Aueq cut-off for Mercedes and 0.4 g/t Aueq cut-off for Rey de Oro
Minera Florida $1,150 Au, $18.00 Ag, $1 lb Zn, 2.12 g/t Aueq cut-off and Florida tailings cut-off N/A
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 cutoff for underground
Suyai N/A 5.0 g/t Au cut-off
Upper Beaver (50%) N/A $1,200 Au and $3.00 Cu, Underground cutoff 2.5 g/t Au
C1-Santa Luz N/A $1,500 pit with 0.5 g/t Au cutoff for open pit resources.
1.5 g/t Au cutoff for C1 underground high grade ore.
Fazenda Brasileiro $1,150 Au, 1.06 g/t Au UG and 0.4 g/t Au open pit cut-off
Metallurgical recovery for Au is 91%.
$1,500 pit with 0.5 g/t Au cutoff for open pit and underground; just pillars and stopes that could be economic
Pilar $1,150 Au, 1.17 g/t Au cut-off for Pilar and 1.01 g/t Au for Maria Lazara. Minimum mining width 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 at Pilar
Agua Rica $1,000 Au, $2.25 lb Cu, $17.00 g/t Ag, $12.00 lb Mo
Metallurgical recoveries are 85% for Au and 53% for Ag.
0.2% Cu cut-off

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, 2015.

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

 

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

Corporate Manager R&R, Andes/Mexico, Yamana Gold Inc.

 

El Peñón

Carlos Bottinelli Otárola, P. Eng. Registered Member of Chilean Mining Commission, Development Manager, Yamana Gold Inc.

 

Marcos Valencia A. P.Geo., Registered Member of Chilean Mining Commission, Corporate Manager R&R, Andes/Mexico, Yamana Gold Inc.

 

Canadian Malartic

Donald Gervais, P. Geo., Canadian Malartic GP

Donald Gervais, P. Geo., Canadian Malartic GP

The scientific and technical information relating to the Chapada mine, El Peñón mine, Mercedes 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.

Mercedes mine — “Technical Report on the Mercedes Gold-Silver Mine, Sonora State, Mexico” dated February 25, 2014, updated as of May 31, 2014, prepared by or under the supervision of R. Dennis Bergen, P. Eng., and Chester M. Moore, P. Eng., of 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.

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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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