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Fast Facts

Ownership
100%

Primary Metal
Gold

Type of Mining
Underground

Proven and Probable Reserves
450,000 ounces of gold(1)

2019 Production
74,000 ounces of gold

2020 Production Guidance
85,000 ounces of gold

(1) 4,709,000 tonnes with an average grade of 2.98 grams per tonne of gold.

Overview

Minera Florida is an underground gold mine located in central Chile, approximately 75 kilometres southwest of Santiago. Yamana acquired the operation as part of the Meridian Gold acquisition in 2007. In 2017, Yamana purchased all outstanding concessions in the neighbouring Las Cenizas property to hold a 100% interest in the project area. The mine has been in operation for over 30 years, and the longer-term objective is to increase production to +120,000 ounces of gold per year through the exploration and development of new targets located in the mineral claims adjacent to the Alhue Block where most of the mining activity has taken place in the past. Exploratory drilling in these new areas has successfully identified the continuity of the mineralized structures demonstrating a much wider mineralization footprint on the large land package open to exploration.

Exploration

Exploration objectives at Minera Florida include converting current mineral resources to mineral reserves and extending mine life through the discovery and delineation of new mineral resources. Exploration has been especially successful extending the mineralization footprint outside of the main Alhue Block. Drilling from 2018 through 2020 led to the discovery, delineation, and initiation of new production fronts in the Pedro Valencia Sur, Pataguas, and Don Leopoldo vein systems. These successes have added new sectors away from the historic core mine, providing flexibility to the operation while increasing mine life. More recently, drill testing west of the Maqui fault (a little-explored area of the mine) has led to the discovery of the Bandolera vein, a well developed ore shoot located close to the core mine infrastructure. Exploration in 2020 is also delineating new mineral resources east of the core mine in the La Flor Oeste vein, further expanding the mineralized area. Mapping, surface geochemistry, and exploratory drilling are advancing new targets outside the core mine for further mine life growth. Please see the press release published September 8, 2020, for the most recent exploration update for Minera Florida.

Please refer to Mineral Reserves & Resources for complete information relating to mineral reserves and mineral resources indicating tonnage and grade for the various mines and projects.

Disclaimer

You are now leaving the Yamana Gold Inc. website to go to an independent third party website. Yamana has no control over information at third party sites hyperlinked to this one. These links are being provided for the convenience of the users of this website and Yamana does not endorse and is not responsible or liable for the content, nature or reliability of any linked website or any link contained in a linked website. Yamana takes no responsibility for monitoring, updating, supplementing or correcting any information on any linked website and makes no representation or warranties regarding such information.

NON-GAAP INFORMATION

Yamana discloses certain non-GAAP measures including Cash costs per ounce of gold, Cash costs per ounce of silver, Co-product cash costs per ounce of gold, Co-product cash costs per ounce of silver, Co-product cash costs per pound of copper, All-in sustaining costs per ounce of gold, All-in sustaining costs per ounce of silver, All-in sustaining co-product costs per ounce of gold, and All-in sustaining co-product costs per ounce of silver to supplement its Consolidated Financial Statements, which are presented in accordance with IFRS. The term IFRS and generally accepted accounting principles (“GAAP”) are used interchangeably. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-GAAP measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

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