Chile - El Peñón | Chile (100% Yamana-owned)

Located in northern Chile, El Peñón is a high grade underground gold-silver mine with a 4,500 tonnes per day agitated leaching /counter current decantation (CCD) and Merrill-Crowe plant. Since production began in 2000, continuing exploration has established a track record of replacing ounces mined. Positive exploration results continue to indicate potential for extending the mine’s life and for a sustainable production level of approximately 440,000 GEO per year.

Current exploration is focused on establishing mineral reserves at new discoveries at Dorada Sur and Dorada Oeste, Fortuna Este and Bonanza West. The continued success of the program will lead to improved production, provide mining flexibility and ultimately increase mine life. At the Pampa Augusta victoria vein system, which is near-surface and easily accessible, development has commenced and an open pit mining operation is expected to supplement production from underground areas.

Production 2013
GEO 467,523

Mineral Reserves and Mineral Resources (as at Dec. 31, 2013)

Gold 2.0 million oz. proven & probable + 870,000 oz. measured & indicated
Silver 64.5 million oz. proven & probable + 24.1. million oz. measured & indicated

* Please refer to www.yamana.com/Operations/ReservesAndResources for complete information relating to mineral reserves and mineral resources indicating tonnage and grade for the various mines and projects.
Type of operation: Underground gold/silver mine