GOLD: New finds in Chile and Brazil boost outlook for Yamana

BRAZIL and CHILE – Toronto's Yamana Gold announced two new gold discoveries this week that it says boost its operational outlook. The company hit the best drill intersections ever encountered at its Chapada mine in Goias state Brazil. And at the El Penon mine 160 km southeast of Antofagasta, Chile, a new, high grade gold vein was discovered and named Ventura.

Hole NM-101 at Chapada assayed 0.46 g/t Au and 0.50% Cu over 172 metres. The intersection was located in the hanging wall immediately west of the main pit and close to existing infrastructure and facilities. The zone is open in all directions. Yamana says it can quickly and easily bring it into production, providing flexibility for further development.

The Ventura vein at El Penon returned a best intersection of 68.15 g/t Au and 1,747.0 g/t Ag over 3.00 metres. The overall results from drilling were higher than the current reserve grade. The new vein lies parallel to the Bonanza vein that has resources containing 1.6 million oz gold equivalent. Ventura is open in all directions. Again, Yamana says this find could be quickly brought into production and provides welcome flexibility.

More information about these and other Yamana mines is posted at Yamana.com.