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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.

2017 MINERAL RESERVES

The following table sets forth the Mineral Reserve estimates for the Company’s mineral projects as at December 31, 2017. See the qualified persons list below.

  • Gold
  • Gold
Proven Mineral Reserves Probable Mineral Reserves Total Proven & Probable
  Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Yamana Gold Projects (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's)
Alumbrera (12.5%) 9,915 0.40 126 485 0.37 6 10,399 0.39 132
Canadian Malartic (50%) 24,990 0.95 760 65,509 1.15 2,429 90,499 1.10 3,189
Cerro Moro 0 0.00 0 1,954 11.38 715 1,954 11.38 715
Chapada 312,360 0.18 1,788 368,790 0.21 2,500 681,150 0.20 4,287
El Peñón 1,062 5.90 201 3,332 5.25 563 4,394 5.41 764
Gualcamayo 6,570 1.26 267 3,678 1.90 224 10,248 1.49 491
Jacobina 18,161 2.34 1,365 7,681 2.13 527 25,842 2.28 1,892
Jeronimo (57%) 6,350 3.91 798 2,331 3.79 284 8,681 3.88 1,082
Minera Florida Ore 846 3.80 103 2,992 3.65 351 3,838 3.68 454
Minera Florida Tailings 1,248 0.94 38 0 0.00 0 1,248 0.94 38
Total Minera Florida 2,093 2.10 141 2,992 3.65 351 5,086 3.01 492
Total Gold Mineral Reserves 381,501 0.44 5,446 456,751 0.52 7,598 838,252 0.48 13,044
 
CMC Ontario Gold Projects
Upper Beaver Mineral Reserves (50%) 0 0.00 0 3,996 5.43 698 3,996 5.43 698
                   
Yamana Gold + Brio Gold + CMC Ontario Projects                  
Total Gold Mineral Reserves 381,501 0.44 5,446 460,747 0.56 8,296 842,248 0.51 13,742
                   
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 Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Yamana Gold Projects (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's) (000's) (g/t) oz. (000's)
Cerro Moro 0 0.0 0 1,954 648.3 40,723 1,954 648.3 40,723
El Peñón 1,062 192.4 6,567 3,332 158.8 17,011 4,394 166.9 23,578
Minera Florida Ore 846 29.6 804 2,992 22.5 2,165 3,838 24.1 2,970
Minera Florida Tailings 1,248 14.5 584 0 0.0 0 1,248 14.5 584
Total Minera Florida 2,093 20.6 1,388 2,992 22.5 2,165 5,086 21.7 3,553
Total Silver Mineral Reserves 3,155 78.4 7,955 8,278 225.1 59,899 11,433 184.6 67,855
                   
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 Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Yamana Gold Projects (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm)
Alumbrera (12.5%) 9,915 0.38 82 485 0.30 3 10,399 0.37 85
Chapada 302,492 0.25 1,642 319,327 0.26 1,829 621,819 0.25 3,471
Total Copper Mineral Reserves 312,407 0.25 1,724 319,812 0.26 1,832 632,218 0.26 3,556
 
CMC Ontario Gold Projects
Upper Beaver Mineral Reserves (50%) 0 0.00 0 3,996 0.25 22 3,996 0.25 22
                   
Yamana Gold + CMC Ontario Projects                  
Total Copper Mineral Reserves 312,407 0.25 1,724 323,808 0.26 1,854 636,214 0.26 3,578
                   
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 Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Yamana Gold Projects (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm)
Minera Florida Ore 846 1.53 29 2,992 1.05 69 3,838 1.16 98
Minera Florida Tailings 1,248 0.58 16 0 0.00 0 1,248 0.58 16
Total Zinc Mineral Reserves 2,093 0.96 44 2,992 1.05 69 5,086 1.01 114
  • Molybdenum
  • Molybdenum
Proven Mineral Reserves Probable Mineral Reserves Total Proven & Probable
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Yamana Gold Projects (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm)
Alumbrera (12.5%) 9,915 0.011 2.50 485 0.009 0.09 10,400 0.011 2.60
Total Moly Mineral Reserves 9,915 0.011 2.50 485 0.009 0.09 10,400 0.011 2.60
                   
Agua Rica 384,871 0.033 279 524,055 0.030 350 908,926 0.031 629

Totals may not add due to rounding

Scroll Left to Right for Full Table

2017 MINERAL RESOURCES (Measured, Indicated & Inferred)

  • Gold
  • Gold
Measured Mineral Resources Indicated Mineral Resources Total Measured & Indicated Inferred Mineral Resources
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Yamana Gold Projects (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)
Alumbrera (12.5%) 3,082 0.39 39 375 0.37 5 3,457 0.39 43 108 0.29 1
Arco Sul 0 0.00 0 0 0.00 0 0 0.00 0 5,000 4.02 646
Canadian Malartic (50%) 2,037 1.33 87 11,086 1.59 566 13,123 1.55 653 35,039 2.05 2,306
Cerro Moro 0 0.00 0 3,321 2.23 238 3,321 2.23 238 4,427 1.96 279
Chapada 54,815 0.12 204 301,538 0.27 2,600 356,353 0.24 2,804 74,599 0.25 609
El Peñón Mine 312 8.56 86 1,116 6.47 232 1,428 6.92 318 2,494 8.31 666
El Peñón Tailings 0 0.00 0 0 0.00 0 0 0.00 0 13,767 0.55 245
El Peñón Low Grade Stock 0 0.00 0 0 0.00 0 0 0.00 0 1,208 1.26 49
El Peñón Total 312 8.56 86 1,116 6.47 232 1,428 6.92 318 17,469 1.71 960
Gualcamayo 10,784 2.00 692 21,949 2.25 1,585 32,733 2.16 2,277 17,920 2.48 1,430
Jacobina 33,494 2.20 2,370 13,554 2.04 889 47,048 2.15 3,258 1,595 2.24 115
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 0 0.00 0 0 0.00 0 0 0.00 0 3,934 4.29 543
Minera Florida 1,176 6.04 228 3,722 5.05 604 4,897 5.28 832 7,284 5.26 1,231
Monument Bay 0 0.00 0 36,581 1.52 1,787 36,581 1.52 1,787 41,946 1.32 1,781
Suyai 0 0.00 0 4,700 15.00 2,286 4,700 15.00 2,286 900 9.90 274
Total Gold Mineral Resources 122,221 1.05 4,108 532,009 0.78 13,289 654,230 0.83 17,396 249,236 1.37 10,956
 
CMC Ontario Projects                        
Amalgamated Kirkland (50%) 0 0.00 0 634 6.51 133 634 6.51 133 1,187 5.32 203
Anoki-McBean (50%) 0 0.00 0 934 5.33 160 934 5.33 160 1,263 4.70 191
Hammond Reef (50%) 82,831 0.70 1,862 21,377 0.57 388 104,208 0.67 2,251 251 0.72 6
Upper Beaver (50%) 0 0.00 0 1,818 3.45 202 1,818 3.45 202 4,344 5.07 708
Upper Canada (50%) 0 0.00 0 0 0.00 0 0 0.00 0 6,049 4.50 876
Total Gold Mineral Resources (50%) 82,831 0.70 1,862 24,763 1.11 882 107,594 0.79 2,745 13,094 4.71 1,984
                         
Yamana Gold + Brio Gold + CMC Ontario Projects                        
Total Gold Mineral Resources 205,052 0.91 5,970 556,772 0.79 14,171 761,824 0.82 20,142 262,330 1.53 12,940
                         
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 Grade Contained   Tonnes Grade Contained   Tonnes Grade Contained   Tonnes Grade Contained
Yamana Gold Projects   (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)
Cerro Moro   0 0.0 0   3,321 190.3 20,313   3,321 190.3 20,313   4,427 101.3 14,415
El Peñón Mine   312 191.0 1,914   1,116 224.3 8,048   1,428 217.0 9,962   2,494 302.5 24,263
El Peñón Tailings   0 0.00 0   0 0.00 0   0.00 0.00 0   13,767 18.9 8,380
El Peñón Low Grade Stock   0 0.00 0   0 0.00 0   0.00 0.00 0   1,208 22.2 863
El Peñón Total   312 191.00 1,914   1,116 224.3 8,048   1,428 217.0 9,962   17,469 59.7 33,506
Minera Florida   1,176 41.5 1,570   3,722 28.0 3,347   4,897 31.2 4,916   7,284 28.4 6,661
Suyai   0 0.0 0   4,700 23.0 3,523   4,700 23.0 3,523   900 21.0 575
Total Silver Mineral Resources   1,487 72.9 3,484   12,858 85.2 35,230   14,346 83.9 38,714   30,080 57.0 55,157
                                 
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 Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Yamana Gold Projects (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm)
Alumbrera (12.5%) 3,082 0.40 27 375 0.39 3 3,457 0.40 31 108 0.21 1
Chapada 54,815 0.19 233 219,377 0.22 1,080 274,192 0.22 1,313 47,046 0.24 252
Total Copper Mineral Resources 57,897 0.20 260 219,752 0.22 1,084 277,649 0.22 1,344 47,153 0.24 253
                         
CMC Ontario Projects                        
Upper Beaver (50%) 0 0.00 0 1,818 0.14 6 1,818 0.14 6 4,344 0.20 19
                         
Yamana Gold + CMC Ontario Projects                        
Total Copper Mineral Reserves 57,897 0.20 260 221,570 0.22 1,089 279,467 0.22 1,350 51,497 0.24 272
                         
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 Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Yamana Gold Projects (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm)
Minera Florida 1,176 2.32 60 3,722 1.69 139 4,897 1.84 199 7,284 1.33 214
Total Zinc Mineral Resources 1,176 2.32 60 3,722 1.69 139 4,897 1.84 199 7,284 1.33 214
  • Molybdenum
  • Molybdenum
Measured Mineral Resources Indicated Mineral Resources Total Measured & Indicated Inferred Mineral Resources
Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained
Yamana Gold Projects (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm) (000's) (%) lbs (mm)
Alumbrera (12.5%) 3,082 0.014 0.93 375 0.012 0.10 3,457 0.014 1.03 108 0.004 0.01
Total Moly Mineral Resources 3,082 0.014 0.93 375 0.012 0.10 3,457 0.014 1.03 108 0.004 0.01
                         
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. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

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

Metal Price, Cut-off Grade, Metallurgical Recovery

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%)
Alumbrera Deposit $1,250 Au, $2.91 Cu. Underground cut-off at 0.5% Cueq.
Metallurgical recoveries are 87.85% for Cu and 72.31% for Au.
0.5% Cueq within economic envelope
Bajo El Durazno Deposit $1,250 Au, $2.91 Cu. Open pit cut-off at 0.3 g/t Aueq within pit design
Metallurgical recoveries are 72.83% for Cu and 66.75% for Au.
0.2 g/t Aueq within economic envelope
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 87% to 96.7% depending on zone
$1,200 Au, cut-off grades range from 0.35 g/t Au inside pit and 1.0 g/t Au outside or below pit
Cut-off grade Odyssey Underground at 1.0 g/t Au and East Malartic Underground at 1.25 g/t Au (MSO)
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 $1,250 Au, $3.00 Cu; $4.36 NSR cut-off at $4.06 / t (Main Pit, Corpo Sul, Cava Norte and Sucupira)
Cut-off grade 0.21 g/t Au based on $1,300 / ounce Au (Suruca Oxide).
Cut-off grade 0.3 g/t Au based on $900 / ounce Au (Suruca sulfide).
Metallurgical recoveries at Chapada are dependent on zone and range from 45% to 90% for Copper and 25% to 75% for gold.
Metallurgical recoveries for Suruca Oxide are dependent on zone and average 85% for gold.
$1,600 / ounce Au , $4.00 / lb Cu (Chapada pits and Suruca SW)
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 $1,250 Au, $18.00 Ag, Variable cut-off for Underground ranging from 3.48 g/t Aueq to 4.31 g/t Aueq dependent on zone.
Reserves based on economic revenue.
Metallurgical recoveries for Au ranges from 82% to 97% and Ag ranges from 56% to 95% dependent on zone.
$1,600 Au, $24.00 Ag, Variable cut-off for Underground ranging from 2.71 g/t Aueq to 2.82 g/t Aueq dependent on zone.
Cut-off grade for tailings at 0.50 g/t Aueq and for low grade stock at 0.80 g/t Aueq
Metallurgical recoveries: Underground 95% Au and 86.5% Ag . Tailings 60% Au and 30% Ag  low grade stock 75% Au and 70% Ag.
Gualcamayo $1,250 Au, Reserves based on economic revenue with variable cut-offs
Metallurgical recoveries for Au open pit ore are 49% and 61% for Au underground ore.
Open pit resources based $1,600 Au resource pit with cut-offs dependent on zone.
Underground based on $1,600 Au with1.00 g/t Au Cut-off for material outside of the resource pit shell.
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 $1,200 Au; 1.2 g/t Au cut-off.
Metallurgical recovery for Au is 96%.
0.5 g/t Au cut-off based on $1,600 Au price and a minimum width of 1.5 m, 96.5% metallurgical recovery and incremental mining cost.
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 $1,250 Au, $18.00 Ag, $1.25 Zn. Reserves based on a 2.17 g/t Aueq cut-off.
Metallurgical recoveries are 90.81% for Au, 51.63% for Ag and 57.36% for Zn.
2.50 g/t Aueq cut-off
Monument Bay N/A $1,200 Au , 0.4 and 0.7 g/t cut-off for open pit cut-off 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, 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

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, 2017.

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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