Yamana Announces Integration of Copper, Gold and Molybdenum Project

Yamana Gold Inc. ("Yamana" or "Yamana Gold") announces the completion of the Integration of the Agua Rica Project and the Alumbrera Plant and related infrastructure, creating a well-advanced copper, gold and molybdenum development stage project, which will be one of the lowest capital intensity projects worldwide. Going forward, the integrated project will be known as the MARA Project.

Yamana Gold Inc. is a precious metals producer headquartered in Canada. Its gold and silver production, development stage assets, exploration assets and land locations are high throughout the Americas (including Canada, Brazil, Chile and Argentina). The company plans to continue to build on this base through expansion and optimization initiatives at existing operating mines, development of new mines, the advancement of its exploration properties.

The integration is achieved by combining the existing substantial infrastructure (including processing facilities, fully permitted tailings storage facilities, pipelines, logistics facilities, auxiliary buildings and other infrastructure) with the existing facilities used to process Alumbrera ore during mining. There are substantial infrastructure and the future open-pit mine.

In order to produce copper and by-product concentrates, the existing processing circuit will be relatively moderately modified to process the Agua Rica ore, and then the concentrate will be transported to the port for commercialization. The distance between the mine and the factory is about 36 kilometers, and the ore will be transported to the factory by land conveyor. Creating a significant copper, gold and molybdenum project.

The result is a significantly reduced project risk, a smaller environmental footprint, and higher efficiency. Measured by the number of pounds of copper produced and in-situ copper ore reserves, it has created one of the world's lowest fund-intensive projects, with the potential for further optimization and growth.

As the sole owner of Agua Rica, Yamana and Alumbrera's partners created a new joint venture company to creating a well-advanced copper, gold and molybdenum project. According to the joint venture, Yamana holds a 56.25% controlling stake, Glencore International AG holds 25.00% and Newmont Corp. holds 18.75% of the shares.

Yamana will become the operator of the joint venture and will continue to lead the cooperation with local, provincial and national stakeholders, complete the feasibility study and environmental impact assessment of the MARA project, and lead the development and operation of the project as a whole. A technical committee has been formed and is comprised of representatives of the three companies to oversee these efforts.

"The integration effectively turns what was a greenfield project into a much lower risk brownfield project," said Peter Marrone, Executive Chairman of Yamana Gold. “Leveraging existing infrastructure enhances project economics, simplifies permitting, and reduces the project’s environmental footprint, thereby significantly enhancing the value of the project.

"For the MARA project, the key development components of the factory and related infrastructure already exist, thereby improving the development risk status and copper and molybdenum project quality. We are very happy to work with our partners Glencore and Newmont for integration, and we look forward to working with them on project development," Peter added.

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