Yamana Gold last wednesday issued a press release to investors, providing updates on various work and projects underway as well as an important announcement on the Wasamac underground mining project. With the release, Yamana confirms its intention to proceed with the feasibility study’s recommendation to move forward with the implementation of an advanced exploration program. As such, all necessary permit processes will be initiated to obtain authorizations for the construction of two ramps to access the deposit from the north of Route 117 to allow for bulk sampling and to pursue other exploration opportunities from underground. According to the current schedule, the process of developing advanced exploration scenarios and authorization requests leads us to anticipate a positive decision from the government at the earliest the start of winter 2023.

If approved, the new exploration phase would enable us to:

• Validate the mining and production plan by ensuring the grade, recovery, and geotechnical aspects of the project
• Seize opportunities to optimize process performance: preliminary results of optimization studies indicate the potential to improve average gold recovery by 3% and up to 5.5% in certain areas
• Confirm the stability parameters of sites, backfill strategy and the operating sequence to secure a safe, stable working environment
• Establish underground drilling platforms to conduct boundary and exploration drilling while minimizing surface activities.

Preliminary analysis of the recommendation, conducted since the summer, led us to consider new hypotheses for the advanced exploration work. As such, we hired external consultants to recommend technically viable and safe scenarios to recover a bulk sample without stripping the galleries of the old Wasamac mine.

The process of obtaining specific government permits (Energy and Natural Resources for sampling, Environment for construction of exploration infrastructures) would be done alongside the environmental impact assessment currently underway and with a timeline of 13 to 16 months. Our commitments to the neighbourhood would also be included in the requests for advanced exploration.

Furthermore, the Task Force, which is composed primarily of area residents, is currently working on a voluntary acquisition program and will soon begin work on an infrastructure and property integrity protection program.

To read the full press release: https://www.yamana.com/English/investors/news/news-details/2021/Yamana-Gold-Announces-the-Discovery-of-New-Mineralized-Zones-at-Wasamac-and-Provides-an-Update-on-Its-Growth-Projects/default.aspx

We are pleased to announce the appointment of Brenda Brooks to the position of Executive Assistant and Office Administrator with Yamana Gold.

Brenda Brenda brings over 30 years of experience in administration roles, with most of her experience in the mining industry with companies such as Agnico Eagle and Xstrata Nickel. She has gained her experience primarily in executive assistant roles, as well as in benefits administration. Her most recent position was with Newmont’s Eleonore mine as Assistant to General Management.

In connection with the Wasamac underground mining project, Brenda will be responsible for providing administrative support to the Directors and will provide coordination for the day‑to‑day operation of the office.

Let us all welcome Brenda!

We remind you that if you have any questions or comments about the Wasamac underground mining project, you can contact us as follows:

By phone: 1-833-510-0330

By email: wasamac@yamana.com(External link)

Through our online platform: www.consultationswasamac.com

This fifth meeting of the Task Force was the first of a series of meetings on different subjects within the framework of the environmental assessment study. The group’s choice of first topic was unequivocal: water, which has long been a concern and a frequently mentioned priority for the neighbourhood. The purpose of the meeting was therefore to draw a portrait of the concerns collected to date, gauge the group’s interest in tackling this subject in greater depth, and collect, study, and reflect on new concerns or avenues of discussion that would advance the thinking on this subject. The meeting was also an opportunity to present progress reports on the exploration program, the environmental assessment study and, more specifically, the previous meeting’s discussion of the report on the characterization of residential wells.

Next, prefacing the discussions, a presentation of terminology and key concepts around the topic of water was done by Martin Duclos, Yamana Gold’s Director of Health, Environment and Permits. Also presented were summaries of previous hydrogeological studies, an overview of the monitoring done of the mining operations, and environmental follow-ups carried out by the provincial and federal governments. The discussion was then structured around the list of citizens’ concerns, which were compiled at coffee meetings held by Richmont Mines and Monarch Gold; the consultations held by the Canadian Impact Assessment Agency; and the document listing neighbours’ concerns presented during the recent site tours. The objectives of the discussion were to clarify the list of fears and concerns, validate the level of popularization of the contents, highlight the issues and opportunities for the Task Force and, finally, identify the need for future activities with the entire neighbourhood on the subject.

Lastly, the meeting provided an opportunity to follow up on the monthly reports, plan the next meetings, and present the approach of the sub-group that will soon begin updating and improving the Property Value Maintenance Program (PMVP) and the Commitment Project related to the potential impacts of the advanced exploration program (Richmont Mine).

Read the detailed report

On September 30, a group of mining technology students from the Cégep de l'Abitibi-Témiscamingue visited the Wasamac underground mining project site together with some Yamana staff and the firm responsible for the field work (WSP) as part of the environmental impact study which is currently underway.

During this visit, the group was able, among other things, to observe the installation of wells, geotechnical drilling, the taking of groundwater samples and other components of the environmental impact study.

The purpose of this exercise was to bridge the gap between the practical fieldwork and the theoretical knowledge of the students acquired during their "Groundwater dynamics" course in which they are enrolled. They will also have to produce a report on the learning achieved during their visit.

he Yamana Gold team thanks the students and their teacher for taking part in this process and wishes them success in their pursuit of their studies in the field of mining!

We are pleased to announce the appointment of Me Mélissa Tardif to the position of Senior Legal Counsel with Yamana Gold Quebec.

Melissa brings over 15 years of experience in the legal field specializing in mining and commercial law.

Melissa joins us from the Ministry of Justice where she was responsible for providing advice on various legal matters. Prior to that, she spent several years working in the mining industry at Richmont Mines Inc. and subsequently Alamos Gold Inc. where she was responsible for reviewing and drafting various legal documents, policies and procurement agreements; communicating and negotiating with First Nations and unions, supporting permitting initiatives, and a variety of other legal mining matters.

In connection with the Wasamac underground mining project, Melissa will be responsible for providing legal advice and support to the various stakeholders working on our initiatives in Quebec.

Let us all welcome Mélissa!

We remind you that if you have any questions or comments about the Wasamac underground mining project, you can contact us as follows:

By phone: 1-833-510-0330

By email: wasamac@yamana.com(External link)

Through our online platform: www.consultationswasamac.com

Yamana held tours of the work site on August 26 and 27, welcoming representatives of First Nations, officials with the City of Rouyn-Noranda, and the Task Force of neighbourhood and vicinity residents established last spring.

The groups arrived aboard buses and spent just over two hours on the Wasamac property; the tours gave stakeholders and interested parties the opportunity to:

1. Acquire information and visual landmarks to help learn more about the project;
2. Grain an appreciation for the distances between the projected primary infrastructures and the neighbourhood;
3. Formulate their questions and concerns with greater specificity after their first-hand experience with the participative process.

There were four planned stops during the tour: at the site of the ore deposit and secondary infrastructure; at the area planned for the primary surface infrastructures, including the plant; near the drill rig; and on the future location of the tailings plant. Each stop was an opportunity for the Yamana team to expand on the Wasamac underground mining project, its history, the details unveiled at the end of July with the updated feasibility study, and the company's vision for the development of the project. The stops were also occasions for visitors to ask questions and talk to the company directors on hand. A spokesperson designated by the neighbourhood also presented a resumé of citizen mobilization and their principal concerns.

For a detailed account of the tour (available in french)

We are pleased to announce the appointment of Claude Laflamme to the position of Superintendent, Accounting with Yamana Gold.

Claude Laflamme brings over 25 years of experience in finance roles, with 12 years’ experience in the mining industry. He holds a CPA, CMA designation, and has a Bachelor of Economics from the University of Montreal, and a Bachelor of Accounting Science from HEC University.

Previously, Claude has held Director of Finance positions at Newmont-Goldcorp’s Eloenore Mine and Glencore’s Matagami Mine, in addition to controllership and procurement roles at other large organizations.

In connection with the Wasamac underground mining project, Claude Laflamme will be responsible for all accounting and finance activities related the Wasamac mine and Yamana’s other North American exploration projects. He will oversee the implementation of controls and finance processes at the Wasamac project and will report key finance expenditures and metrics to corporate. Claude will build and maintain key relationships with internal stakeholders to support all finance functions in the Abitibi as Yamana’s footprint in the region expands and will work closely with the corporate finance team to ensure timely and accurate financial reporting.

Let us all welcome Claude!

We remind you that if you have any questions or comments about the Wasamac underground mining project, you can contact us as follows:

By phone: 1-833-510-0330

By email: wasamac@yamana.com(External link)

Through our online platform: www.consultationswasamac.com

We are pleased to announce the appointment of Martin Duclos to the position of Director, Safety, Environment & Permitting with Yamana Gold.

Martin brings over 30 years of experience in environment and permitting in the mining industry and Ministry of Quebec. He holds a degree in Natural Environment/Environment Specialization from Cégep de St-Félicien.

Martin joins us from Canadian Malartic where he held the position of Manager, Sustainable Development & Environment for the last 3 years. He was responsible for permitting strategies and implementation, first nations relations, management systems implementation and site reclamation. Prior to that, he was with Goldcorp-Éléonore Mine and Stavibel (SNC-Lavalin).

In connection with the Wasamac underground mining project, Martin will be responsible for the safety, environmental and permitting of the Wasamac project. He will be responsible for developing and implementing phase appropriate safety and environmental management systems to ensure compliance with existing permits and applicable safety and environmental requirements aligned with Yamana’s HSSD framework. He will be responsible for developing and implementing permitting strategies and working closely with the regulatory agencies. As well as working with consultants to guide and coordinate implementation of environmental baseline studies.

Let us all welcome Martin!

We remind you that if you have any questions or comments about the Wasamac underground mining project, you can contact us as follows:

By phone: 1-833-510-0330

By email: wasamac@yamana.com(External link)

Through our online platform: www.consultationswasamac.com

We are pleased to present to you this 6th edition of the newsletter which covers various topics related to the update of the Project.

This newsletter announces the results of the feasibility study published last July. It was an opportunity for us to reaffirm our commitment to develop the Wasamac project. Important information is also presented on the impact study currently underway. Much work remains to be done and we are continuing our dialogue and consultation process with the Task Force, the First Nations, the neighborhood, and stakeholders in the territory.

Finally, you will find information regarding the hiring of new people to the Yamana team and the recent acquisition of the Community Relations Office, which will be able to welcome you very soon.

The newsletter was distributed by post to the neighborhood and is available digitally here on the online platform.

Enjoy reading!

As part of the federal impact assessment of the Wasamac underground mining project, the Impact Assessment Agency of Canada (IAAC) is organizing two information sessions in October to present the Participant Funding Program to participants (PFP).

The PFP helps the public participate in the impact assessment process and communicate useful ideas, perspectives, and knowledge. If you have an interest in participating in one or the other of the sessions, please confirm it by email to Ms. Laurie Tremblay, Project Manager at IAAC at the following address: laurie.tremblay@iaac-aeic.gc(External link). The information to connect via Zoom will then be sent to you.

If you cannot attend one of the sessions and still wish to obtain information on funding, or for any other question concerning the federal impact assessment of the Project, please contact Ms. Laurie Tremblay by email or by telephone (418-572-8746).

Useful links:

• Video on the Impact Assessment Agency of Canada (2 minutes)(External link)
• Web page of the Agency on the impact assessment of the Wasamac gold mine project(External link)
• Participant Funding Program