Yamana Gold Recommends Rejection of Mini-Tender Offer by TRC Capital Corporation

announced that it has received a copy of an unsolicited below market
"mini-tender" offer made by TRC Capital Corporation, pursuant to which TRC
Capital has offered to purchase up to 3,000,000, or approximately 0.48 percent
of the outstanding common shares of Yamana. The offer price of C$15.75 per
common share represents a 1.87 percent and 1.68 percent discount,
respectively, to the C$16.05 and US$15.70 closing prices for Yamana common
shares on the Toronto Stock Exchange and the New York Stock Exchange,
respectively, on March 24, 2008, the day before the offer was made, and a 8.7
percent and 8.4 percent discount to the closing prices for Yamana common
shares on the Toronto Stock Exchange and the New York Stock Exchange on March
25, 2008 which were C$17.50 and US$16.91, respectively.
    Yamana recommends that its shareholders reject this unsolicited offer.
Yamana wishes to inform its shareholders that it is not associated with TRC
Capital, the offer or the offer documentation.
    TRC Capital has made numerous unsolicited "mini-tender" offers for shares
of other companies. "Mini-tender" offers are offers to purchase a small
percentage of a company's shares, thereby avoiding most of the filing,
disclosure and procedural requirements of Canadian and United States federal
security legislation.
    Securities regulators in the United States and Canada have recommended
that shareholders exercise caution in connection with mini-tender offers and
that they consult their investment advisors regarding these types of offers.
The U.S. Securities and Exchange Commission has published investor tips
regarding mini-tender offers on its website at:
www.sec.gov/investor/pubs/minitend.htm. Comments from the Canadian Securities
Administrators on mini-tenders can be found under Staff Notice 61-301 at:
    Yamana advises shareholders to consult their financial advisors and to
exercise caution with this offer. Yamana understands that shareholders who
have already tendered to the offer may withdraw their common shares by
providing the written notice described in the TRC Capital offering document
prior to the expiration of the offer.

    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, Central America and the
United States. Yamana is producing gold at intermediate company production
levels in addition to significant copper and silver production. Company
management 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.

    FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of the United
States Securities Exchange Act of 1934, as amended and "forward-looking
information" under applicable Canadian securities laws. Except for statements
of historical fact relating to the company, certain information contained
herein constitutes forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan," "expect," "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 and estimates of
management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. These factors include possible variations in ore grade or recovery
rates, fluctuating metal prices, currency exchange rates, changes in project
parameters, the possibility of project cost overruns or unanticipated costs
and expenses and general risks of the mining industry, failure of plant,
equipment or processes to operate as anticipated, 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 or opinions should
change. The reader is cautioned not to place undue reliance on forward-looking

For further information:

For further information: Yamana Gold Inc., Jodi Peake, Vice President,
Public & Investor Relations, (416) 815-0220, Email: investor@yamana.com ; or
Yamana Gold Inc., Letitia Wong, Director, Investor Relations, (416) 815-0220,
Email: investor@yamana.com, Website: www.yamana.com

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