YAU Yamana Gold

 
TIDMYAU 
 
YAMANA ACQUIRES SHARES OF AURA MINERALS 
 
(all amounts expressed in US dollars unless noted) 
 
TORONTO, March 23 /CNW/ - YAMANA GOLD INC. (TSX: YRI) (NYSE: AUY) (LSE: YAU) 
("Yamana" or "the Company") today announced that it has acquired ownership and 
control over 19,056,113 common shares (the "Shares") of Aura Minerals Inc. 
("Aura") through the issuance of common shares from treasury by Aura to Yamana. 
These shares were issued as partial consideration paid in connection with the 
debt restructuring and other amounts payable to Yamana and its subsidiaries 
under certain promissory notes in the aggregate amount of $64,247,114 plus 
deferred purchase price consideration, pursuant to the terms of a binding 
letter agreement entered into between Yamana and Aura dated as of March 4, 
2011. Yamana acquired the Shares as an accredited investor pursuant to the 
exemption set forth in section 2.3 of National Instrument 45-106 Prospectus and 
Registration Exemptions. The deemed acquisition price per Share was C$3.83. 
Prior to the acquisition of the Shares, Yamana owned 23,344,261 common shares 
of Aura. Following the acquisition of the Shares, Yamana now holds a total of 
42,400,374 common shares of Aura, representing approximately 18.7% of Aura's 
current issued and outstanding common shares. 
 
Yamana has no current intention to acquire ownership or control over additional 
securities of Aura. It is the intention of Yamana to evaluate its investment in 
Aura on a continuing basis and such holdings may be decreased or increased in 
the future. 
 
About Yamana 
 
Yamana is a Canadian-based gold producer with significant gold production, gold 
development stage properties, exploration properties, and land positions in 
Brazil, Argentina, Chile, Mexico and Colombia. Yamana plans to continue to 
build on this base through existing operating mine expansions, throughput 
increases, development of new mines, advancement of its exploration properties 
and by targeting other gold consolidation opportunities with a primary focus in 
the Americas. 
 
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: 
 
This news release contains "forward-looking statements" within the meaning of 
the United States Private Securities Litigation Reform Act of 1995 and 
applicable Canadian securities legislation. Except for statements of historical 
fact relating to the Company, information contained herein constitutes 
forward-looking statements, including any information as to the Company's 
strategy, 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 projects and 
exploration programs discussed herein being met, 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), possible variations in 
ore grade or recovery rates, changes in the Company's hedging program, changes 
in accounting policies, changes in the Company's corporate mineral resources, 
risk related to non-core mine dispositions, changes in project parametres as 
plans continue to be refined, changes in project development, construction, 
production and commissioning time frames, risk related to joint venture 
operations, the possibility of project cost overruns or 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 time lines, government regulation of mining operations, 
environmental risks, unanticipated reclamation expenses, title disputes or 
claims, limitations on insurance coverage and timing and possible outcome of 
pending litigation and labour disputes, as well as those risk factors discussed 
or referred to in the Company's annual Management's Discussion and Analysis and 
Annual Information Form for the year ended December 31, 2009 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. 
 
For further information: Lisa Doddridge, Vice President, Corporate 
Communications and Investor Relations, (416) 815-0220, Email: investor(at) 
yamana.com 
 
(YRI. AUY YAU) 
 
 
 
 
 
END 
 

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