News

We are pleased to present today the results of the updated feasibility study for the Wasamac underground mining project, confirming our intention to advance the project to production, conditional on obtaining government authorizations which are subject to the currently ongoing environmental assessment processes.

This decision clearly places Quebec and Abitibi-Témiscamingue at the heart of Yamana Gold’s future development and affirms our desire to consolidate our presence there by accelerating and positioning our development activities. The recent hiring of resources from Quebec in management positions and the acquisition of new mining properties in Abitibi last month also bear witness to this. This announcement further consolidates Yamana Gold's position as the second largest gold producer in Quebec and indicates major investments that will generate significant positive spinoffs for all communities. The recent launch of the Yamana corporate website in French(External link) is also an additional indication of this willingness to pursue our expansion in Abitibi-Témiscamingue and in Quebec.

The Wasamac underground mining project: a new page of history

Located between Évain and Arntfield, Wasamac is a former mining property operated in the late 1960s and early 1970s. The feasibility study which will be the subject of a presentation to investors tomorrow indicates that its planned operation, which would be deploying new technologies and would be focusing on respect and cohabitation with the neighborhood, would currently result in a mine life of 10 years with a development potential of more than 15 years and an annual production rate of 200,000 ounces of gold.

A favorable decision for the development of the project which reflects Yamana's commitment to put the necessary means and efforts to develop the Wasamac project in a responsible manner

This is an important milestone in the development of our project which will allow substantial investments and mark a new phase both regarding the activities of characterization of the deposit and the design of the underground mining project, and in terms of relations with the neighborhood and communities. We are enthusiastic to continue the collaborative efforts started since the first hour with the neighborhood, the communities, and the First Nations. Inspired by Yamana's values and local and international best practices, these approaches aim to determine the conditions of acceptability of the project under development and the implementation of transparent and proactive community relations.

A "yes" conditional on obtaining environmental authorizations

Provincial and federal impact assessment and environmental assessment processes are ongoing. The authorizations resulting from these processes are required to begin construction of the Wasamac underground mining project. We are confident in our ability to secure the necessary authorizations since we approach these studies with rigor and work with the best experts, both professionals and the neighborhood, to develop a project with the lowest environmental footprint possible.

Today's announcement also recommends continuing our exploration activities into a new phase of advanced exploration. This is a hypothesis that we are currently evaluating. If we were to go ahead with this one, the exploration ramp portal would be located on the west side of the Route 117 on the Wasamac property and bulk sampling of the deposit would be done via underground ways. This would also involve obtaining additional government authorizations separate from the ongoing environmental impact assessment on the mining project. The construction of infrastructure (exploration ramp) and bulk sampling would be subject to separate government authorization processes (from the Ministry of Energy and Natural Resources for sampling and the Ministry of the Environment for the construction of infrastructure and dewatering).

In addition, exploration activities should begin in the fall on the recently acquired Francoeur-Arntfield-Lac-Fortune properties to better define mineral resources and potential synergies with the Wasamac underground mining project.

For more information about this announcement, see the corporate press release(External link).

To learn more about the Wasamac underground mining project, its environmental assessment, its exploration program and to view job offers, visit www.wasamac-consultations.com/

We always remain available to answer your questions about the Wasamac underground mining project or any other matter concerning Yamana Gold's activities.

Sincerely Yours

Marc-André Lavergne

Directeur Communauté et affaires externes

Yamana Gold

The Task Force, with the neighbourhood and community of the Wasamac underground mining project, held its first meeting on April 28. Today we are publishing the minutes of that meeting (in French), validated by the group at its second meeting on May 19, as well as the Rules of Operation (in French) that were adopted.

Recall that the mandate of the Wasamac underground mining project Task Force is to establish a forum for dialogue and information-sharing between Yamana Gold, the neighbourhood, and the community. The group’s task is to document the concerns, impacts and anticipated benefits of the project in order to formulate recommendations and identify conditions of acceptability. The creation of the group, facilitated by an objective third party, is meant to ensure the equitable input of a diverse range of viewpoints and to find concerted solutions for all stakeholders and interested parties.

The Rules of Operation were determined with the Task Force after the self-designation of members and alternates from the neighborhood or community. The Task Force will meet approximately once a month until the Environmental Assessment Study is filed. Discussions will permit project information to be updated as well as deliberation on topics selected by the members.

Yamana Gold announces the acquisition of the Francoeur, Arntfield and Lac Fortune mining properties near the company’s Wasamac underground mining project. Potential synergies between the properties could bring additional value to the project under development.

Historical data from these new properties and the Wasamac project will be consolidated and exploration activities are expected to start by this fall to better determine mineral resources and synergistic potential, which could extend the life of the Wasamac underground mining project or enhance production.

There may also be synergistic interests with the Wasamac underground mining project currently under development, notably through the reuse of old infrastructure from the acquired properties.

It is important to note that despite this opportunity, the Wasamac underground mining project remains a separate entity. Wasamac is not dependent on the newly acquired properties, even if potential synergies are anticipated.

A thorough review of the 2018 feasibility study allowed Yamana to identify opportunities to optimize the Wasamac project:

As previously reported, details of the final feasibility study update are expected to be available by the end of the summer.

The neighborhood meeting scheduled for this Wednesday will be an opportunity to share this news with the community and answer any questions that may arise, or at least document them if the answers are not yet available.

Some thirty people took part in the self-designation meeting of neighbourhood representatives held on April 8 on the Zoom platform. The meeting confirmed the mandate and designated the members and alternates who will meet approximately once a month, with invited resource persons, to discuss the Wasamac underground mining project. Minutes of the Task Force meetings will always be available to the public in the Task Force section of this platform. The minutes of the self-designation meeting have already been posted.

The newly formed Task Force met for their first working session on April 28. The meeting was an opportunity to better get to know each other and to formally agree on operating rules that will allow all parties to participate on the Task Force.

The table below lists the individuals who joined the Task Force upon its creation. Other resource persons will also be invited in keeping with subjects tabled for discussion.

As the Quebec governement announced on May 11^th, there will be investments in facilities in the region, notably for the Centre aquatique de la Ville de Rouyn-Noranda. This funding, granted by Québec, is possible among other things because of the financial participation of Yamana Gold, which supports the project as an executive and exclusive partner, by offering a $2M financial compensation.

At WASAMAC, we hold the view that the construction of an aquatic center in Rouyn-Noranda will contribute to the vitality of the territory and the quality of life of its residents.

After all, the lack of adapted pools to the needs of rouynorandians is obvious. This project represents a solution to this challenge and it will make a difference in the lives of over 43,000 people (youths, families, seniors, athletes, etc.).

We are happy and proud to associate to this structuring project, which falls in our desire to be a leverage for positive change for the collectivity in a perspective of sustainability.

The WASAMAC project gives particular importance to humility, equity, audacity and family in its management philosophy. Our participation to the construction of the Centre aquatique de Rouyn-Noranda is consistent with the values and involvements that we embrace.

Yamana Gold is proud to support Quebec Mining Week, which runs from April 26 to 30, 2021. The company has published a full-page ad in the special edition of Le Citoyen newspaper, outlining the company’s efforts around the Wasamac underground mining project – an innovative, inclusive project that is well integrated into its physical and human environment.

The special insert can be found here:

https://www.lecitoyenvaldoramos.com/archives-et-cahiers-speciaux/28-04-2021-semaine-miniere-2021(External link)

Please feel free to get in touch with us if you have any questions about the Wasamac project.

By phone: 1-833-510-0330

By email: wasamac@yamana.com

Through our online platform: www.consultationswasamac.com

A series of environmental surveys in the area of the Wasamac underground mining project will begin in connection with the Environmental Impact Assessment (EIA).

The surveys will be carried out by WSP employees or other consultants involved in the EIA. You may now consult the dates and subjects of the various surveys; the information will be posted in the right-hand menu of the Environmental Impact Assessment section of this platform. This section will be updated as campaigns are planned.

Most of the surveys will take place on Yamana property or on public land. With regard to surveys on private property, the owners will be contacted and asked for permission.

Workers who are required to use the area for the studies have been advised to avoid using rang des Cavaliers for their travels and to park on Yamana-owned property whenever possible.

Marcel Saint-Pierre, project superintendent for Yamana, will oversee the field activities.

Please feel free to get in touch with us if you have any questions about the environmental surveys.

By phone: 1-833-510-0330

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

Through our online platform: www.consultationswasamac.com

Drilling Equipments

We started the exploration program at the end of March. So far, we have drilled two holes on a property located in the Wasamac rural road area. We have already begun to restore the property, as you can see in the attached photo. Our team is currently working in the Wasamac property area a little further south.

Drilling platform prio to the restauration work	Drilling platform after the restauration work
Access road prior the restauration work	Access road after the restauration work

For more details on the first phase of the exploration program, or to give feedback about it, go to the section of the online platform that addresses this topic.

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

By phone: 819-763-1085

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

Through our online platform: www.consultationswasamac.com

Yamana is proud to support the Rouyn-Noranda Mining Innovation Zone (MIZ) project: the result of a process of reflection undertaken by players in various sectors, such as mining, education, business and culture. The ZIM makes human beings the priority in the transition to a new era of mining – one that is more sustainable and more in tune with its environment. We believe that this is a promising project for the community, one that will allow us to underscore the industry’s knowledge, resources and experience in mining, both nationally and internationally. The expertise and synergies developed within the MIZ will benefit both the community and the industry.

Rouyn-Noranda's MIZ stands out because the mining industry is part of the city's DNA. In the context of a global energy transition that will involve the mineral sector and its critical and strategic mineral resources, the MIZ will be a key part of the solution that will allow Quebec to differentiate itself and make advances in sustainable development.

To learn more about MIZ, please visit the following link:

http://www.ville.rouyn-noranda.qc.ca/fr/page/zone-innovation-miniere/