Yamana announces end of gold mining deal, confirms validation of Agnico – Pan American Arrangement Agreement, The Canadian Business Journal

TORONTO, Nov. 08, 2022 (GLOBE NEWSWIRE) — YAMANA GOLD INC. (TSX: YRI, NYSE: AUY, LSE: AUY) (“Yamana” or the “Company”) is pleased to announce its contractual agreement with Agnico Eagle To do. Mines Limited (“Agnico”) and Pan American Silver Corp. (“Pan American”) entered into an agreement on November 4, 2022 (the “Agnico – Pan American Arrangement Agreement”) between Gold Fields Limited (“” 2022 The Arrangement Agreement between the Company and Gold Fields (the “Gold Fields Arrangement Agreement”) entered into on May 31, 2022. The terms of the Agnico – Pan American Arrangement Agreement are effective today, November 8, 2022. It remains the same as previously announced by the company and can be found under the company’s SEDAR profile at www.sedar.com.

An extraordinary general meeting of Yamana shareholders scheduled for Monday, November 21, 2022 under the Gold Fields Arrangement Agreement has been cancelled, and Yamana has announced that, pursuant to the Gold Fields Arrangement Agreement, Gold Fields will make a US$300 million investment. I will pay the cancellation fee. Pursuant to the terms of the Agnico-Pan American Arrangement Agreement, Pan American shall pay US$150 million in cash for such termination fees.

About Yamana

Yamana Gold Inc. is a Canada-based precious metals company with significant gold and silver production, development stage properties, exploration properties and land locations throughout the Americas, including Canada, Brazil, Chile and Argentina. I am a producer. Yamana targets expansion and optimization efforts at existing operating mines, development of new mines, enhancement of exploration profile and, at times, other integration opportunities primarily focused on the Americas. , intends to continue building on this foundation.

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This news release contains “forward-looking statements” and “forward-looking information” within the meaning of the Private Securities Litigation Reform Act of 1995 under applicable Canadian securities laws. or incorporated by reference. Agnico – not limited to information about the Pan American Transaction. Forward-looking statements are characterized by words such as “plans,” “expects,” “budget,” “goals,” “projects,” “intends,” “believes,” “expects,” “estimates,” and similar terms. You can Or, a statement that a particular event or condition “may occur” or “will occur.” Forward-looking statements are based on management’s opinions, assumptions and estimates that were believed to be reasonable at the time the statements were made and are inherently subject to various risks and uncertainties and actual events or outcomes. subject to other known and unknown factors that may cause differ materially from those anticipated in the forward-looking statements. These factors include transaction risks and risks associated with the completion of Agnico and Pan American’s transactions, including receipt of all necessary regulatory, court and security owner approvals in connection with the transactions with Agnico and Pan American. risks, as well as risk factors discussed or mentioned. This document and the Company’s Annual Information Forms filed with the securities regulators of all Canadian provinces and available at www.sedar.com, and the Company’s Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission. stated in the report. Although we have attempted to identify important factors that could cause our actual actions, events or results to differ materially from those set forth in the forward-looking statements, we do not anticipate actions, events or results. , presumed or unintended causative factors may exist. 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. Except as required by applicable law, we undertake no obligation to update any forward-looking statements if circumstances or management’s estimates, assumptions or opinions change. Readers are cautioned not to place undue reliance on forward-looking statements.

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