News

We are pleased to announce that we recently acquired office space at 14 d'Évain Street in Rouyn-Noranda for the purpose of opening a Community Relations Office for the Wasamac underground mining project.

The Yamana team in Quebec is growing and a new contact person will be available to handle questions and suggestions from the community.

The creation of this information and discussion centre for citizens is the fulfillment of one of Yamana's first commitments to the community in connection with the Wasamac underground mining project, aimed at meeting an expectation expressed by residents.

As a former Desjardins service centre for the Évain district, the existing Desjardins ATM in the building will continue to be accessible to users.

The announcement of the official opening of the office, and an invitation to the public, will be forthcoming as soon as renovations and upgrades are completed.

As part of the environmental impact assessment to be done for the Wasamac underground mining project, various works will be carried out in the project area over a few weeks starting at the end of August. All details can be found here. The precise start date will be posted on this platform.

Should you have any questions or comments, we invite you to contact us by phone or text at 1-833-510-0330, or by email at wasamac@yamana.com(External link).

At its June 21 meeting, the Neighbourhood and Community Task Force for the Wasamac underground mining project validated the minutes of the previous meeting, which was held on May 19, 2021(External link).

Here is our recap:

A summary update on Yamana Gold's Wasamac underground mining project was presented to the members and will be presented to the entire community at the next neighbourhood meeting scheduled for June 16. That meeting will also be an opportunity to discuss in greater depth the exploration program, drilling operations and noise mitigation measures. An invitation will be sent out to the neighbourhood with the next issue of the Wasamac newsletter, which will also contain an update on the project’s progress.

The Task Force meeting was also an occasion for members to plan their meetings until the filing of the environmental impact assessment, the first version of which has been postponed until April 2022. The Task Force will receive a presentation of the impact assessment process by WSP before the summer, as well as a presentation of the follow-up mechanism for reports. The latter will also be widely distributed before the summer so that the neighbourhood will know how to report observations or complaints related to Yamana's activities, both with regard to the exploration program and the field activities around the environmental impact assessment.

The Task Force is planning a field visit at the end of August, which will also be an opportunity to receive a more detailed presentation of the project following Yamana's update of the feasibility study. In the fall, the group will then use its time to review various analyses and inventories, work in sub-groups and organize thematic weekends for the neighbourhood and the community. The winter months will then be devoted to preliminary sectoral impact studies, the social assessment of the impacts, and discussions on the avoidance, mitigation or compensation measures to be recommended. A follow-up on the development of the work timetable until spring 2022 will be done at upcoming Task Force meetings.

The minutes of the last neighbourhood meeting have been posted.

A summary update on Yamana Gold's Wasamac underground mining project was presented to the area residents who logged into the virtual meeting. In this, our second meeting since Yamana purchased the property, we took the opportunity to introduce new members of the Yamana team and discuss in greater detail the exploration program, drilling operations, and sound mitigation measures, with expert testimony and outreach videos.

Watch the videos again:

The meeting was also a forum for discussion of Yamana's environmental approach in all steps of its process and the life cycle of a mining project. The mine tailings facility and surface infrastructure planned for the project were discussed. A quick update on the upcoming feasibility study was also on the agenda. Participants learned more about the acquisition of new mining properties (Francoeur, Arntfield and Lac Fortune) in the vicinity of the project area and possible synergies with the Wasamac project, although those are still to be confirmed.

A summary of the environmental impact assessment, now scheduled to be filed in April 2022, was also discussed with the neighbourhood. The firm retained for this exercise is WSP, which will carry out several steps in the coming months, including data collection, land surveys and inventories, as well as a characterization of residential wells, to assess the project’s impacts. Finally, there was discussion of the Task Force, whose mandate is to serve as a space for dialogue and exchange between Yamana, the neighbourhood and the community, and the community contribution policy being developed. Many conversations took place on these topics. Following up on questions posed during the meeting, new questions/answers have been added to the platform, with more to come. The map showing the area identified for the characterization of residential wells was also uploaded to the platform.

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

We are pleased to share this explanatory capsule(External link) on the drilling activities taking place on the site of the Wasamac underground mining project. This video describes the interior and exterior environment of the drill as well as the various equipment used by our team to carry out exploration work. Watching it will allow you to better understand how a drill rig works and the steps taken to extract core tubes from the ground and conduct a geological analysis. Efficient, modern and silent, the measures in place to reduce the sound and visual impact on the neighborhood are described here. You can find the video below or in the Exploration Program section. We wanted to underline the collaboration of the RJLL and Technominex teams in carrying out this exploration work with us.

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.

I am pleased to announce that Jean-Pierre Landry has joined Yamana Gold at the Wasamac Project as Director, Engineering and Construction.

Jean-Pierre brings over 30 years of experience in the construction industry and 17 years project management experience in the mining industry. Jean-Pierre joins us from J.Y. Moreau Electrique Inc. where he was Vice President, Major Projects. He was responsible for leading different projects from the construction and engineering phase and in charge of the bid department. Jean-Pierre is a Civil Engineer with a diverse experience in different mining projects in various locations especially in the Quebec and Ontario regions. Jean-Pierre will be responsible for managing the engineering and infrastructure construction of the Wasamac project. He will be responsible for ensuring that the multidisciplinary construction plan adheres to the highest standards of occupational health, safety and environmental and that the services and products meets budgets and deadline. He will be involved in all levels of the project from the pre-economic analysis, to the feasibility and study phases, as well as execution. Jean-Pierre will be based in Rouyn-Noranda in Quebec and report directly to myself.

Please join me in welcoming Jean-Pierre Landry to Yamana Gold.

Sincerely,

Yohann Bouchard

SVP & COO