Summary of December 14th Meeting

This eighth meeting of the Task Force focused on continuing efforts to update the Property Value Maintenance Program. The program will eventually evolve into a co-existence framework agreement of several chapters, to be discussed in 2022. For the moment, the group is focused on real estate transactions for neighbouring property owners who wish to move away from the mining project area. Before discussing the main topic, Marc-André Lavergne, Yamana Gold's Director of Community and External Affairs, gave the group some project updates: a review of the December 1 neighbourhood meeting, a presentation of alternatives being studied for the tailings facility and access roads to the main facilities site, and a presentation of the process of government authorizations for a new phase of advanced underground exploration.

The group then resumed discussion of the main topic. Mr. Lavergne reported that his meeting with Yamana's senior management had been conducted in a manner consistent with the announced vision and that the proposed points had all been agreed to in principle. As a result, the PVMP would be effective retroactively to the date of Yamana's purchase of the Wasamac underground mining project and would apply until the site restoration period. Owners would be entitled to an enhanced amount: in addition to the guaranteed market value, normal relocation expenses could be reimbursed and the process would be simplified. Finally, the applicability area would be expanded (and possibly further still, when anticipated impacts have been mapped and known) to include the central part of that zone for residences at risk of high impacts. Homeowners whose properties are situated within the new area could, in the first few years of the project, receive compensation that is closer to replacement value. The applicability area will be more clearly defined when the project impact assessment has been completed.

The January meeting will also include a presentation by a chartered appraiser of the different methods for appraising market and replacement values (value to the homeowner). A briefing on the various Canadian Malartic Mine co-existence programs will also be given to members in early 2022.

Toward the end of the meeting, talk turned to proposals for the company's long-term contributions to the neighbourhood, based on suggestions made in the questionnaire circulated among members prior to the meeting. Also discussed were recognition of volunteer time, follow-up on citizens’ reports, and follow-up on the minutes of the November meeting.

Summary of December 14th Meeting