Yamana Gold provides update to Pilar mineral resource estimate

    - Substantial increase in both resource and grade -

today announced an update to the mineral resource estimate and progress toward
a feasibility level study for the Pilar project based on 2008 drilling.
    The Pilar project is a gold mineral exploration project located in Goias,
Brazil, approximately 300 kilometres northwest of the city of Brasilia and
approximately 70 kilometres south of Yamana's Chapada mine. Pilar is comprised
of three deposits, Jordino, Ogo and Tres Buracos (JOT). The current Pilar
mineral resource estimate is summarized as follows:

                            Inferred Mineral resource
    Deposit (1)             Tonnes      Au g/t      Ounces
    Tres Buracos         4,100,000         1.3     171,000
    Ogo                    800,000         1.8      48,000
    Jordino              7,698,000        5.03   1,245,000
    Total               12,598,000        3.61   1,464,000
    (1) The Tres Buracos estimate is based on a cut-off
        grade of 0.5 g/t gold as it is planned as an open
        pit mine whereas the Ogo and Jordino estimates are
        based on a cut-off grade of 1.5 g/t gold as they
        are planned as underground mines.

    Both grade and total resource ounces have increased substantially from
2007 to end of 2008 as summarized below:

                            Inferred Mineral resource
                            Tonnes      Au g/t      Ounces
    2007                12,400,000        2.44     972,000
    2008                12,598,000        3.61   1,464,000
    Increase               198,000        1.17     492,000
    Percentage Change           2%         48%         51%

    The increase in resource is entirely from the high-grade Jordino deposit
which is the largest and most prospective, and now represents approximately
85% of total contained gold ounces. The Jordino resource alone substantially
increased by 492,000 gold ounces, or 65%, and its grade improved significantly
from 3.1 g/t to 5.0 g/t, a 62% increase from the previous year. Yamana has now
added approximately 8.4 million new gold ounces before production to its total
gold reserves and resources base, across all categories, in 2008, exceeding
previous expectations of 7.0 million new ounces.
    All three deposits share the same geology and structure along a northwest
trend that extends along strike for at least five kilometres and is covered on
the southeast end by post-mineral sedimentary rocks of the Araxa Group.
Mineralization is controlled by a low angle shear zone with hydrothermal
alteration consisting of sulphidation, mainly as arsenopyrite, and
silicification of the carbonaceous sedimentary rocks across widths of 10 to 20
metres. Higher grades are clearly associated with structurally controlled ore
shoots distributed along the trend of the Pilar Greenstone belt. The Ogo and
Tres Buracos deposits are located one and 2.7 kilometres northwest of Jordino,
respectively. Yamana anticipates that the three deposits will be developed as
one mine.
    The JOT deposits are hosted by metasedimentary rocks of the Pilar
Greenstone Belt which is the easternmost of three greenstone belts in the
Goias Massif. The other two greenstone belts include the westernmost Crixas
Greenstone Belt which hosts the Serra Grande gold mine and the Guarinos
Greenstone Belt which is east of the Crixas Belt and similar in shape and
size. The Crixas and Pilar gold mineralization have very similar structural
control, hydrothermal alteration, stratigraphy and tectonic history, and are
approximately 40 kilometres apart. Yamana controls approximately 65,000
hectares of mineral claims and permits that cover the majority of the Guarinos
and Pilar Greenstone belts.
    In 2008, Yamana completed an additional 23,500 metres of diamond drilling
on the project. To date 48,000 metres has been completed in 141 holes.
Drilling focused on increasing the resource down dip and along strike and on
better defining the ore grade continuity through infill drilling. The majority
of the resource has now been outlined by drilling on a 100x100 metre grid with
some sections completed on a 50x50 metre grid. Yamana has budgeted US$4.1
million for exploration in 2009 for the Pilar project for approximately 20,000
metres of diamond drilling, of which approximately 12,000 metres will be
focused on growing the resource along strike and down dip. Infill drilling and
tunneling is also planned to further define the current inferred resource to
upgrade the resource category. Almost all of the extension and infill drilling
will be at Jordino. The Company's view is that an initial mineable resource
level of one million ounces would support a development decision.
    The Pilar project is rapidly developing into a defined resource for
feasibility. Yamana believes Pilar is highly prospective and is an important
development stage project for the Company with the potential to be

    Qualified Person

    William H. Wulftange, P.Geo., Director, Technical Compliance for Yamana
Gold Inc. has reviewed and confirmed the data contained within this Press
Release and serves as the Qualified Person as defined in National Instrument

    -   Update to C1 Santa Luz economic analysis: Q2 2009
    -   C1 Santa Luz construction decision: H2 2009
    -   Ernesto/Pau-a-Pique feasibility study and construction decision: by
        end of 2009
    -   Mercedes feasibility study and construction decision: Q1 2010
    -   Pilar feasibility study and construction decision: Q1 2010

    About Yamana

    Yamana is a Canadian-based gold producer with significant gold
production, gold development stage properties, exploration properties, and
land positions in Brazil, Chile, Argentina, Mexico and Central America. Yamana
is producing gold and other precious metals at intermediate company production
levels. Yamana 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 the Americas.

contains or incorporates by reference "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 but are not limited to, the
advantages determined based on findings described herein proving to be
accurate, the Company's expectations in connection with the project 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 and the Chilean 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 resources, changes in project parameters as
plans continue to be refined, changes in project development and production
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 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
operational performance and the Company's plans and objectives related to the
project discussed herein and may not be appropriate for other purposes.


SOURCES This news release uses the terms "Measured", "Indicated" and "Inferred" Mineral Resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.

For further information:

For further information: Jodi Peake, Vice President, Corporate
Communications & Investor Relations, (416) 815-0220, Email:
investor@yamana.com, www.yamana.com; Letitia Wong, Director, Investor
Relations, (416) 815-0220, Email: investor@yamana.com; MEDIA INQUIRIES:
Mansfield Communications Inc., Hugh Mansfield, (416) 599-0024

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