Yamana Gold Announces Fourth Quarter and Full Year 2015 Results

TORONTO - Yamana Gold reported record total production of 1.28 million ounces of gold, including 345,788 ounces of gold in the fourth quarter of 2015, with record annual gold production from Canadian Malartic, Gualcamayo and Minera Florida; and fourth quarter production increases compared to the prior year of 18% at Chapada, 10% at Canadian Malartic, 15% at Gualcamayo and 37% at Jacobina.

Full year production of 9.0 million ounces of silver at cash costs of $7.12 per ounce and AISC(1,2) of $10.81 per ounce; including 2.0 million ounces at cash costs of $7.48 per ounce and AISC of $10.78 in the fourth quarter of 2015. Full year production of 131.0 million pounds of copper production at co-product cash costs(1) of $1.46 per pound at Chapada; including 36.6 million pounds at co-product cash costs of $1.30 per pound in the further quarter of 2015.

The Company is targeting continuous production growth, and will continue to evaluate opportunities for optimizations and other operational improvements across its portfolio to further increase its production profile. The Company will also continue to pursue organic production growth opportunities from the Cerro Moro project, Chapada expansion, Canadian Malartic developments, Monument Bay project, Kirkland Lake opportunities and Deep Carbonates project.

Argentina - Exploration properties & other includes certain exploration properties such as Suyai, Don Sixto, among others, acquired by the Company as part of the Viceroy, Meridian and Extorre acquisitions.