YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or “the Company”) is
pleased to announce it is celebrating its 15th anniversary
today. On this day in 2003, the Company was taken public with
an initial portfolio that included the Chapada project in Brazil,
which it subsequently developed and brought into production in
2007.
Yamana is proud that Chapada continues to return
value to this day and the mine still has a life of 20 years.
The success at Chapada is representative of the Company’s approach
and of meeting its commitments to all stakeholders.
Over the years, Yamana has grown through phases
of strategic acquisitions to enhance and diversify its portfolio as
well as pursuing organic opportunities within its portfolio.
Throughout, the Company has focused on the sustainability of its
business and has sought to continuously improve its performance
across all health and safety, environment and community
metrics.
Peter Marrone, Chairman and Chief Executive
Officer, commented as follows: “In 2003, we had a vision to create
a significant and dominant intermediate gold company that focused
on high quality assets in more prominent and higher quality mining
jurisdictions in North and South America mostly to deliver better
value with lower risk.
Over the past 15-year period, we have achieved
these objectives plus much more, and we are proud that Yamana in
2018 is a realization of that initial vision. Today, we are
that established and dominant intermediate with quality assets and
management. Particular attention has been paid in the last
several years to the need for high quality management and board
representation. Further, we have paid attention to the
importance of sustainability, focused on health, safety,
environment and community relations, in our enterprises.
Creating a culture of care for health, safety and environment
goes hand in glove with our obligations to produce effectively,
generate cash flows and be profitable.
Thank you to all Yamana employees past and
present, our contractors and suppliers, our local communities and
our many other stakeholders, and all the others who have supported
us getting to this stage.”
Operating from seven mines in Brazil, Argentina,
Chile and Canada, the Company has a production platform of gold,
silver and copper. The Company expects to produce over 1.1
million ounces of gold equivalent (treating silver as a gold
equivalent at a ratio of 72:1) and 120 pounds of copper this year
at one of the lowest costs in the industry, which serves as further
corroboration that it has established itself as a low-cost,
significant intermediate-sized company, from seven mines in four
high quality mining jurisdictions in the Americas.
About Yamana
Yamana is a Canadian-based gold producer with
significant gold production, gold development stage properties,
exploration properties, and land positions throughout the Americas
including Canada, Brazil, Chile and Argentina. Yamana plans
to continue to build on this base through existing operating mine
expansions and optimization initiatives, development of new mines,
the advancement of its exploration properties and, at times, by
targeting other gold consolidation opportunities with a primary
focus in the Americas.
FOR FURTHER INFORMATION PLEASE CONTACT:Investor Relations and
Corporate Communications416-815-02201-888-809-0925Email:
investor@yamana.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS: This news release contains or
incorporates by reference “forward-looking statements” and
“forward-looking information” under applicable Canadian securities
legislation within the meaning of the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
information includes, but is not limited to information with
respect to the Company’s optimization and expansion plans,
strategy, other plans or future financial or operating performance.
Forward-looking statements are characterized by words such as
“plan,” “expect”, “budget”, “target”, “project”, “intend”,
“believe”, “anticipate”, “estimate” and other similar words, or
statements that certain events or conditions “may” or “will” occur.
Forward-looking statements are based on the opinions, assumptions
and estimates of management considered reasonable at the date the
statements are made, and are inherently subject to a variety of
risks and uncertainties and other known and unknown factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. These
factors include the Company’s expectations in connection with the
production and exploration, the impact of declaring commercial
production, development and expansion plans at the Company's
projects discussed herein being met, the impact of proposed
optimizations at the Company's projects, changes in national and
local government legislation, taxation, controls or regulations
and/or changes in the administration or laws, policies and
practices, and the impact of general business and economic
conditions, global liquidity and credit availability on the timing
of cash flows and the values of assets and liabilities based on
projected future conditions, fluctuating metal prices (such as
gold, copper, silver and zinc), currency exchange rates (such as
the Brazilian real, the Chilean peso, and the Argentine peso versus
the United States dollar), the impact of inflation, possible
variations in ore grade or recovery rates, changes in the Company’s
hedging program, changes in accounting policies, changes in Mineral
Resources and Mineral Reserves, risks related to asset disposition,
risks related to metal purchase agreements, risks related to
acquisitions, changes in project parameters as plans continue to be
refined, changes in project development, construction, production
and commissioning time frames, unanticipated costs and expenses,
higher prices for fuel, steel, power, labour and other consumables
contributing to higher costs and general risks of the mining
industry, failure of plant, equipment or processes to operate as
anticipated, unexpected changes in mine life, final pricing for
concentrate sales, unanticipated results of future studies,
seasonality and unanticipated weather changes, costs and timing of
the development of new deposits, success of exploration activities,
permitting timelines, government regulation and the risk of
government expropriation or nationalization of mining operations,
risks related to relying on local advisors and consultants in
foreign jurisdictions, environmental risks, unanticipated
reclamation expenses, risks relating to joint venture operations,
title disputes or claims, limitations on insurance coverage and
timing and possible outcome of pending and outstanding litigation
and labour disputes, risks related to enforcing legal rights in
foreign jurisdictions, as well as those risk factors discussed or
referred to herein and in the Company's Annual Information Form
filed with the securities regulatory authorities in all provinces
of Canada and available at www.sedar.com, and the Company’s Annual
Report on Form 40-F filed with the United States Securities
and Exchange Commission. Although the Company has attempted
to identify important factors that could cause actual actions,
events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be anticipated, estimated or
intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. The Company undertakes no obligation to update
forward-looking statements if circumstances or management’s
estimates, assumptions or opinions should change, except as
required by applicable law. The reader is cautioned not to place
undue reliance on forward-looking statements. The forward-looking
information contained herein is presented for the purpose of
assisting investors in understanding the Company’s expected
financial and operational performance and results as at and for the
periods ended on the dates presented in the Company’s plans and
objectives and may not be appropriate for other purposes.
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