Resumption Of Operations At El Penon

TORONTO, ON - Yamana Gold reported the resumption of operations at its El Penon mine in Chile, after successfully concluding negotiations leading to collective bargaining agreements with two unions representing underground workers. The collective bargaining agreements are for terms of 40 and 48 months, and are in line with the Company's preceding final offer.

Operations partially resumed last Friday after these workers relinquished the camp in order to allow for conclusion of negotiations.

The interruption in operations, which have now returned to normal, has not had a significant impact on mine and consolidated production. Further, the Company expects to recover production from other operations shorter term and from El Penon throughout the year.