Reserves & Resources

Mineral Reserves (Proven and Probable)

The following table sets forth the Mineral Reserve estimates for the Company’s mineral projects as at December 31, 2012. See “Interests of Experts” for a listing of the qualified persons responsible for such estimates.

	Proven Mineral Reserves			Probable Mineral Reserves			Total Proven & Probable
Gold
	Tonnes	Grade	Contained	Tonnes	Grade	Contained	Tonnes	Grade	Contained
	(000’s)	(g/t)	oz. (000’s)	(000’s)	(g/t)	oz. (000’s)	(000’s)	(g/t)	oz. (000’s)
Alumbrera (12.5%)	26,250	0.36	304	838	0.23	6	27,088	0.35	310
Chapada	150,700	0.22	1,072	280,490	0.29	2,604	431,190	0.27	3,676
C1 Santa Luz	19,752	1.55	987	11,135	1.42	508	30,887	1.51	1,495
El Peñón	1,903	8.90	546	11,071	4.90	1,746	12,974	5.50	2,291
Ernesto/Pau a Pique	2,279	3.86	283	5,884	2.69	508	8,163	3.01	791
Fazenda Brasileiro	2,777	2.47	220	1,365	1.96	86	4,142	2.30	306
Gualcamayo	12,560	1.18	475	37,066	1.33	1,590	49,626	1.29	2,065
Jacobina	6,300	2.43	492	18,641	3.22	1,930	24,942	3.02	2,422
Jeronimo (57%)	6,350	3.91	798	2,331	3.79	284	8,682	3.88	1,082
Mercedes	758	6.39	156	5,844	4.24	797	6,602	4.49	953
Minera Florida Ore	2,631	3.85	326	2,739	3.75	330	5,369	3.80	656
Minera Florida Tailings	5,397	1.09	189	-	-	-	5,397	1.09	189
Total Minera Florida	8,028	1.99	515	2,739	3.75	330	10,766	2.44	845
Pilar	-	-	-	11,098	4.04	1,440	11,098	4.04	1,440
Total Gold Mineral Reserves	237,657	0.77	5,847	388,502	0.95	11,829	626,159	0.88	17,676
Agua Rica	384,871	0.25	3,080	524,055	0.21	3,479	908,926	0.22	6,559

Silver
	Tonnes	Grade	Contained	Tonnes	Grade	Contained	Tonnes	Grade	Contained
	(000’s)	(g/t)	oz. (000’s)	(000’s)	(g/t)	oz. (000’s)	(000’s)	(g/t)	oz. (000’s)
El Peñón	1,903	216.00	13,218	11,071	167.00	59,369	12,974	174.00	72,587
Mercedes	758	74.63	1,820	5,844	44.23	8,311	6,602	47.73	10,131
Minera Florida Ore	2,631	23.74	2,008	2,739	25.49	2,244	5,369	24.63	4,252
Minera Florida Tailings	5,397	12.80	2,221	-	-	-	5,397	12.80	2,221
Total Minera Florida	8,028	16.38	4,229	2,739	25.49	2,244	10,766	18.70	6,473
Total Silver Mineral Reserves	10,688	56.07	19,267	19,654	110.66	69,924	30,342	91.43	89,191
Agua Rica	384,871	3.73	46,176	524,055	3.33	56,070	908,926	3.50	102,246

Copper
	Tonnes	Grade	Contained	Tonnes	Grade	Contained	Tonnes	Grade	Contained
	(000’s)	(%)	lbs (mm)	(000’s)	(%)	lbs (mm)	(000’s)	(%)	lbs (mm)
Alumbrera (12.5%)	26,250	0.36	208	838	0.27	5	27,088	0.36	213
Chapada	150,700	0.29	967	221,620	0.31	1,507	372,320	0.30	2,474
Total Copper Mineral Reserves	176,950	0.30	1,175	222,458	0.31	1,512	399,408	0.31	2,687
Agua Rica	384,871	0.56	4,779	524,055	0.43	5,011	908,926	0.49	9,789

Zinc
	Tonnes	Grade	Contained	Tonnes	Grade	Contained	Tonnes	Grade	Contained
	(000’s)	(%)	lbs (mm)	(000’s)	(%)	lbs (mm)	(000’s)	(%)	lbs (mm)
Minera Florida	2,631	1.21	70	2,739	1.13	68	5,369	1.17	138
Total Zinc Mineral Reserves	2,631	1.21	70	2,739	1.13	68	5,369	1.17	138

Molybdenum
	Tonnes	Grade	Contained	Tonnes	Grade	Contained	Tonnes	Grade	Contained
	(000’s)	(%)	lbs (mm)	(000’s)	(%)	lbs (mm)	(000’s)	(%)	lbs (mm)
Alumbrera (12.5%)	26,250	0.013	7.5	838	0.014	0.3	27,088	0.013	7.8
Total Moly Mineral Reserves	26,250	0.013	7.5	838	0.014	0.3	27,088	0.013	7.8
Agua Rica	384,871	0.033	279	524,055	0.030	350	908,926	0.031	629

Mineral Resources (Measured, Indicated and Inferred)

The following table set forth the Mineral Resource estimates and for the Company’s mineral projects as at December 31, 2012. See “Interests of Experts” for a listing of the qualified persons responsible for such estimates.

	Measured Mineral Resources				Indicated Mineral Resources			Total Measured & Indicated				Inferred Mineral Resources
Gold
	Tonnes		Grade	Contained	Tonnes	Grade	Contained	Tonnes	Grade	Contained		Tonnes	Grade		Contained
	(000’s)		(g/t)	oz. (000’s)	(000’s)	(g/t)	oz. (000’s)	(000’s)	(g/t)	oz. (000’s)		(000’s)	(g/t)		oz. (000’s)
Amancaya	-		-	-	-	-	-	-	-	-		1,390	7.90		351
Arco Sul	-		-	-	-	-	-	-	-	-		3,501	4.64		522
C1 Santa Luz	3,243		1.00	104	10,400	1.72	574	13,643	1.55	678		6,004	2.54		490
Chapada	37,173		0.19	226	263,389	0.24	2,070	300,562	0.24	2,296		118,632	0.22		839
Cerro Moro	-		-	-	4,157	6.60	884	4,157	6.60	884		3,598	1.90		222
El Peñón	637		11.34	232	1,365	4.55	200	2,002	6.71	432		5,108	5.86		962
Ernesto/Pau a Pique	204		6.28	41	2,083	1.50	100	2,287	1.92	141		4,868	1.87		293
Fazenda Brasileiro	164		3.31	17	2,406	1.91	148	2,570	2.00	165		6,131	3.10		611
Gualcamayo	7,297		1.41	330	25,896	1.01	841	33,193	1.10	1,171		10,355	1.66		552
Jacobina	12,666		2.36	960	12,290	2.83	1,117	24,956	2.59	2,077		12,551	3.01		1,215
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	29		3.22	3	2,633	3.36	284	2,661	3.36	287		2,725	3.49		305
Rey del Oro	-		-	-	-	-	-	-	-	-		704	2.98		67
Total Mercedes	29		3.22	3	2,633	3.36	284	2,661	3.36	287		3,429	3.37		372
Minera Florida	1,203		6.44	249	1,470	5.57	263	2,673	5.96	512		3,738	5.52		664
Pilar de Goias	-		-	-	1,797	4.62	267	1,797	4.62	267		11,184	3.83		1,377
Suyai	-		-	-	4,700	15.00	2,286	4,700	15.00	2,286		900	9.90		274
Total Gold Mineral Resources	79,137		1.01	2,564	466,653	0.77	11,532	545,790	0.80	14,095		234,342	1.34		10,068
Agua Rica	27,081		0.14	120	173,917	0.14	776	200,998	0.14	896		642,110	0.12		2,444

Silver
	Tonnes		Grade	Contained	Tonnes	Grade	Contained	Tonnes	Grade	Contained		Tonnes	Grade		Contained
	(000’s)		(g/t)	oz. (000’s)	(000’s)	(g/t)	oz. (000’s)	(000’s)	(g/t)	oz. (000’s)		(000’s)	(g/t)		oz. (000’s)
Amancaya	-		-	-	-	-	-	-	-	-		1,390	73.00		3,270
Chapada	-		-	-	82,161	1.43	3,775	82,161	1.43	3,775		27,553	1.11		982
Cerro Moro	-		-	-	4,157	400.30	53,500	4,157	400.30	53,500		3,598	115.90		13,408
El Peñón	637		287.08	5,877	1,365	140.38	6,163	2,002	187.03	12,040		5,108	246.56		40,493
Mercedes	29		61.09	56	2,633	35.79	3,030	2,662	36.06	3,086		2,725	37.3		3,269
Rey del Oro	-		-	-	-	-	-	-	-	-		704	44.8		1,015
Total Mercedes	29		61.09	56	2,633	35.79	3,030	2,662	36.06	3,086		3,429	38.86		4,284
Minera Florida	1,203		39.06	1,511	1,470	30.00	1,411	2,673	34.00	2,922		3,738	39.00		4,691
Suyai	-		-	-	4,700	23.00	3,523	4,700	23.00	3,523		900	21.00		575
Total Silver Mineral Resources	1,869		123.88	7,444	96,486	23.02	71,401	98,355	24.93	78,846		45,716	46.06		67,703
Agua Rica	27,081		2.35	2,042	173,917	2.89	16,158	200,998	2.82	18,200		642,110	2.33		48,124

Copper
	Tonnes		Grade	Contained	Tonnes	Grade	Contained	Tonnes	Grade		Contained	Tonnes	Grade		Contained
	(000’s)		(%)	lbs (mm)	(000’s)	(%)	lbs (mm)	(000’s)	(%)		lbs (mm)	(000’s)	(%)		lbs (mm)
Chapada	37,173		0.20	164	181,228	0.23	933	218,401	0.23		1,097	91,079	0.28		565
Total Copper Mineral Resources	37,173		0.20	164	181,228	0.23	933	218,401	0.23		1,097	91,079	0.28		565
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
	Tonnes	Grade		Contained	Tonnes	Grade	Contained	Tonnes	Grade		Contained	Tonnes	Grade	Contained
	(000’s)	(%)		lbs (mm)	(000’s)	(%)	lbs (mm)	(000’s)	(%)		lbs (mm)	(000’s)	(%)	lbs (mm)
Minera Florida	1,203	1.67		44	1,470	1.51	49	2,673	1.58		93	3,738	1.50	124
Total Zinc Mineral Resources	1,203	1.67		44	1,470	1.51	49	2,673	1.58		93	3,738	1.50	124

Molybdenum
	Tonnes	Grade		Contained	Tonnes	Grade	Contained	Tonnes	Grade	Contained		Tonnes	Grade	Contained
	(000’s)	(%)		lbs (mm)	(000’s)	(%)	lbs (mm)	(000’s)	(%)	lbs (mm)		(000’s)	(%)	lbs (mm)
Agua Rica	27,081	0.049		29	173,917	0.037	142	200,998	0.039	172		642,110	0.034	480
Total Moly Mineral Resources	27,081	0.049		29	173,917	0.037	142	200,998	0.039	172		642,110	0.034	480

Note: Mineral Resources are exclusive of Mineral Reserves.

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

1. Metal Prices and Cut-off Grades:

Mine	Mineral Reserves	Mineral Resources

Alumbrera (12.5%)	$1,400 Au, $3.20 Cu, $17.00 Mo and 0.22% CuEQ	N/A
Amancaya	N/A	1.0 g/t Aueq OP, 3.4 g/t Aueq UG
Arco Sul	N/A	2.5 g/t Aueq cut-off
Caiamar	N/A	1.5 g/t Au cut-off
Chapada	$950 Au, $2.50 Cu, $4.80 average cut-off for Chapada Mine $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	$1,500 Au, $3.5 Cu and $3.5 NSR cut-off out of pit for Chapada Mine 0.2 g/t Au cut-off for oxides and 0.3 g/t Au cut-off for sulphide in Suruca Gold Project
C1-Santa Luz	$950 Au for C1 and satellite orebodies except Mansinha and Mari ($750 Au), 0.5 g/t Au cut-off	0.5 g/t Au cut-off for C1-Santa Luz Shallow and 1.5 g/t Au cut-off for C1 Downdip Extension
Cerro Moro	N/A	1.0 g/t Aueq cut-off
El Peñón	$950 Au, $20.00 Ag, Variable cut-off for Underground and 1.2 g/t Aueq cut-off for Open Pit	3.9 g/t Aueq cut-off
Ernesto/Pau a Pique	$825 Au, 1.0 g/t UG, 0.3 g/t Au OP cut-off for Ernesto and PP and $950 Au, 0.7 g/t Au cut-off for Lavrinha	0.3 g/t OP, 1.0 g/t UG for Ernesto/PP and 0.3 g/t for Lavrinha
Fazenda Brasileiro	$950 Au, 1.00 g/t Au UG and 0.80 g/t Au OP cut-off	0.5 g/t cut-off UG and 0.25 g/t Au OP cut-off
Gualcamayo	$950 Au, 1.00 g/t Au UG and for OP, 0.25 g/t Au for QDD Upper and 0.5 g/t Au for AIM cut-off	1.0 g/t Au UG and for OP, 0.25 g/t Au for QDD Upper and 0.18 g/t for AIM cut-off
Jacobina	$950 Au, 1.45 g/t Au cut-off	0.5 g/t Au cut-off for Jacobina Mines and 1.5 g/t Au cut-off for Pindobaçu Project
Jeronimo	$900 Au, 2.0 g/t Au cut-off	2.0 g/t Au cut-off
La Pepa	N/A	$780 Au, 0.30 g/t Au cut-off
Lavra Velha	N/A	$1,300 Au, $3.5 Cu and 0.2g/t Au, 0.1% Cu cut-off
Mercedes	$950 Au, $20.00 Ag, 2.9 g/t Aueq	2.0 g/t Aueq cut-off for Mercedes and 0.4 g/t Aueq cut-off for Rey del Oro
Minera Florida	$950 Au, $20.00 Ag, $1 lb Zn, 2.80 g/t Aueq cut-off and Florida tailings cut-off N/A	2.22 g/t Aueq cut-off
Pilar	$900 Au; 2.0 g/t Au cut-off	2.0 g/t Au cut-off
Suyai	N/A	5.0 g/t Au cut-off
Agua Rica	$1,000 g/t Au, $2.25 lb Cu, $17.00 g/t Ag, $12.00 lb Mo	0.2% Cu cut-off

2. 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.

3. All Mineral Resources are reported exclusive of Mineral Reserves.

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

5. Mineral Reserves and Mineral Resources are reported as of December 31, 2012.

6. For the qualified persons responsible for the Mineral Reserve and Mineral Resource estimates, see the qualified persons chart in “Item 15 Interests of Experts” in this annual information form.

Property	Qualified Persons for Mineral Reserves	Qualified Persons for Mineral Resources
Alumbrera	Julio Bruna Novillo, AusIMM, Member of CIM, Xstrata Plc	Julio Bruna Novillo, AusIMM, Member of CIM, Xstrata Plc
Amancaya	Not applicable	Chester M. Moore, P.Eng., Roscoe Postle Associates Inc.
Arco Sul	Not applicable	Chester M. Moore, P.Eng., Roscoe Postle Associates Inc.
Chapada	Emerson Ricardo Re, MSc, MAusIMM, Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.	Emerson Ricardo Re, MSc, MAusIMM, Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.
Cerro Moro	Not applicable	David (Ted) Coupland, BSc DipGeoSc CFSG ASIA MAusIMM (CP) MMICA), Director, Geological Consulting, Principal Geostatistician, Cube Consulting Pty Ltd.
C1 Santa Luz	Emerson Ricardo Re, MSc, MAusIMM, Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.	Marco Antonio Alfaro Sironvalle, P.Eng., Ph.D. Eng., MAusIMM, Member of Chilean Mining Commission, Corporate Manager, Reserves, Yamana Gold Inc. (for all of C1 Santa Luz excluding C1 extension) and Sergio Brandao Silva, P. Geo, Exploration Director, Brazil, Yamana Gold Inc. (for C1 extension)
El Peñón	Marco Antonio Alfaro Sironvalle, P.Eng., Ph.D. Eng., MAusIMM, Member of Chilean Mining Commission, Corporate Manager, Reserves, Yamana Gold Inc.	Marcos Valencia A. P.Geo., Regional Resource Estimation Manager, Andes Exploration, Yamana Gold Inc.
Ernesto/ Pau-a -Pique	Emerson Ricardo Re, MSc, MAusIMM, Registered Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.	Sergio Brandao Silva, P. Geo, Exploration Director, Brazil, Yamana Gold Inc.
Fazenda Brasileiro	Emerson Ricardo Re, MSc, MAusIMM, Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.	Sergio Brandao Silva, P. Geo, Exploration Director, Brazil, Yamana Gold Inc.
Gualcamayo	Emerson Ricardo Re, MSc, MAusIMM, Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc. (for Gualcamayo, excluding QDD Lower) and Guillermo Bagioli, MAusIMM, Member of Chilean Mining Commission, Metalica Consultores S.A. (for QDD Lower)	Marcos Valencia A. P.Geo., Regional Resource Estimation Manager, Andes Exploration, Yamana Gold Inc.
Jacobina	Emerson Ricardo Re, MSc, MAusIMM, Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.	Sergio Brandao Silva, P. Geo, Exploration Director, Brazil, Yamana Gold Inc.
Jeronimo	Guillermo Bagioli Arce, MAusIMM , Member of Chilean Mining Commission, Metálica Consultores S.A.	Dominique François-Bongarçon, Ph.D, FAusIMM, Agoratek International
La Pepa	Not applicable	Chester M. Moore, P.Eng., Roscoe Postle Associates Inc.
Lavera Velha	Not applicable	Marcelo Antonio Batelochi, P.Geo., MAusIMM (CP), Geologist Consultant
Mercedes	Marco Antonio Alfaro Sironvalle, P.Eng., Ph.D. Eng., MAusIMM, Member of Chilean Mining Commission, Corporate Manager, Reserves, Yamana Gold Inc.	Marcos Valencia A. P.Geo., Regional Resource Estimation Manager, Andes Exploration, Yamana Gold Inc.
Minera Florida	Marco Antonio Alfaro Sironvalle, P.Eng., Ph.D. Eng., MAusIMM, Member of Chilean Mining Commission, Corporate Manager, Reserves, Yamana Gold Inc.	Marcos Valencia A. P.Geo., Regional Resource Estimation Manager, Andes Exploration, Yamana Gold Inc.
Pilar	Guillermo Bagioli, MAusIMM, Member of Chilean Mining Commission, Metalica Consultores S.A. (for Jordino) and Emerson Ricardo Re, MSc, MAusIMM, Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc. (for Jordino Extension)	Marco Antonio Alfaro Sironvalle, P.Eng., Ph.D. Eng., MAusIMM, Member of Chilean Mining Commission, Corporate Manager, Reserves, Yamana Gold Inc. (for Jordino) and Sergio Brandao Silva, P. Geo, Exploration Director, Brazil, Yamana Gold Inc. (for Jordino Down Dip, Tres Buracos, HG and Ogo Extension) and Maria Lazara
Suyai	Not applicable	Robin J. Young, P. Geo., Western Services Engineering, Inc.
Agua Rica	Enrique Munoz Gonzalez, MAusIMM	Evandro Cintra, Ph.D., P. Geo., Senior Vice President, Technical Services, Yamana Gold Inc.

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Investor
Fact Sheet

2012 Annual Report

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