Name: Gualcamayo mine.

Location: The Gualcamayo mine is located 270 km from San Juan, Argentina.

Controlling Company: Yamana Gold (100%).

Brief History: A construction decision was made in 2007, following positive feasibility study results and environmental approval. The Gualcamayo mine was constructed by Yamana in 20 months and declared commercial production in mid-2009. In 2010, a decision was made to develop the underground Quebrada del Diablo (QDD) Lower West deposit, located below the main openpit.

Brief Description: The Gualcamayo mine employs about 1 200 people, including contract and permanent workers from local communities.

Products: Gold.

Mining Method: Openpit and heap-leach.

Major Infrastructure and Equipment: The ore is transported by haul trucks to the crusher. The crushed ore is then sent for trituration, where the size of the ore is reduced by grinding. Crushed powder from the trituration is sent for processing. Ore processing activities at the mine started in early 2009 and includes leaching, carbon columns, desorption, electrorefination and smelting. The primary ore pass, the primary and secondary crushing facilities, the conveyor system and the absorption desorption recovery plant were commissioned by April 2009.

Geology: The main QDD openpit deposit, the Amelia Ines and Magdalena satellite openpit deposits and the potential QDD lower west underground zone deposit are the three main mineral deposits at Gualcamayo.

Reserves: Total proven and probable reserves as at December 31, 2012, were 49.626-million tons, with a grading of 1.29 g/t gold.

Resources: Total measured and indicated resources as at December 31, 2012, were 33.193-million tons, with a grading of 1.1 g/t gold. Total inferred resources were 10.355-million tons, with a grading of 1.66 g/t gold.

Prospects: The development of the underground QDD Lower West deposit will increase expected production to more than 200 000 oz/y, which will start in 2014.

Contact Person: VP, country manager – Argentina, Hernan Vera.

Contact Details:
Yamana Gold
Tel +1 416 815 0220
Fax +1 416 815 0021
Email investor@yamana.com
Website www.yamana.com