YAU Yamana Gold

    FOR:  YAMANA GOLD INC.

TSX SYMBOL:  YRI
NYSE SYMBOL:  AUY
LSE SYMBOL:  YAU

July 16, 2008

Yamana Gold Declares July 2008 Dividend

TORONTO, ONTARIO--(Marketwire - July 16, 2008) - YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY)(LSE:YAU) today announced
its July 2008 monthly dividend of US$0.01 per share. Shareholders of record at the close of business on
Thursday, July 31, 2008 will be entitled to receive payment of this dividend on Thursday, August 14, 2008. The
dividend is an "eligible dividend" for Canadian tax purposes.

About Yamana

Yamana is a Canadian gold producer with significant gold production, gold development stage properties,
exploration properties, and land positions in Brazil, Argentina, Chile, Mexico, Central America and the United
States. Yamana is producing gold at intermediate company production levels in addition to significant copper
and silver production. The Company plans to continue to build on this base through existing operating mine
expansions and throughput increases, the advancement of its exploration properties and by targeting other gold
consolidation opportunities in Brazil, Argentina and elsewhere in the Americas.


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FOR FURTHER INFORMATION PLEASE CONTACT:

Yamana Gold Inc.
Letitia Wong
Director, Investor Relations
(416) 815-0220
Email: investor@yamana.com

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Yamana Gold Inc.



                                                                

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