YAMANA GOLD INC. announced positive exploration drilling results at both Odyssey and Wasamac, as the Company continues to advance its strategic initiatives across its portfolio, further underpinning its strategic
outlook and efforts to meaningfully extend its sustainable production platform. Notable highlights at Odyssey include East Gouldie infill and exploration drilling, which continues to demonstrate both significant expansion potential and excellent mineralization continuity and consistency. With twelve surface diamond drill rigs active on East Gouldie, as well as four underground drill rigs on Odyssey South, ongoing drilling is expected to convert a significant portion of the 2021 year-end inferred mineral resources to indicated mineral resources for 2022 year-end reporting, and, as well, significantly expand the inferred mineral resource envelope. At Wasamac, infill drilling results continue to confirm or exceed expected grades and widths, highlighting the continuity and tenor of mineralization. Along with positive step out drill results from Wildcat South, these results provide support for an expanded production scenario within and adjacent to the known mineral envelope at Wasamac. The Company's exploration success and track record of mineral reserve replacement and mineral resource growth supports a clear pathway toward realizing significant and progressive production increases and increased cash flow generation. Odyssey Exploration Update: Yamana and Agnico Eagle Mines Ltd., who each hold a 50% interest in the Canadian Malartic General Partnership (the “Partnership”), owner and operator of the Canadian Malartic mine, announced a positive construction decision for the Odyssey underground project at Canadian Malartic on February 11, 2021. The size, continuity and growth potential of the East Gouldie mineralized zone is highlighted by the rapid resource growth and consistent infill drill results, including the latest infill drilling results reported herein. The East Gouldie zone was discovered in the fourth quarter of 2018 and the decision to start the shaft development was made in the first quarter of 2021, prior to the declaration of mineral reserves, on the basis of 0.8 million ounces of indicated mineral resources (100% basis) and 13.5 million ounces of inferred mineral resources (100% basis). By year-end 2021, that decision was validated by further infill drilling, when 1.5 million ounces (11.9 million tonnes grading 3.88 g/t gold) had been converted to indicated mineral resources, and an additional 1.2 million ounces (10.7 million tonnes at 3.4 g/t gold) had been added to inferred mineral resources, largely within the 2020 East Gouldie resource envelope. The main objectives of the 2022 drilling program are to convert the inferred resource to indicated, complete additional infill and delineation drilling on the Odyssey zones, as well as to carry out further exploration drilling to expand the current mineralized envelope. To that end, by the end of the second quarter of 2022, completed drilling included 42,018 metres of infill on East Gouldie, 10,450 metres of exploration drilling on East Gouldie expansion, outside the resource envelope, and 31,700 metres of conversion drilling on Odyssey South. Additionally, 14,600 metres of exploration drilling were completed on East Gouldie extension, in the eastern extension of the East Gouldie plane. Drilling in all sectors continues to provide excellent grades and widths. Highlights include the following estimated true widths intercepts: East Gouldie Infill: MEX21-230WB, 6.45 g/t of gold over 22.53 metres; MEX22-233, 5.03 g/t of gold over 33.24 metres; MEX21-225WBZ, 2.23 g/t of gold over 60.26 metres; and MEX21-228W, 6.93 g/t of gold over 27.50 metres. East Gouldie Extension Exploration: MEX22-232, 3.85 g/t of gold over 5.98 metres; RD21-4689AA, 4.11 g/t of gold over 7.90 metres (core length); and MEX22-231, 1.84 g/t of gold over 62.92 metres. Odyssey South Conversion: UGOD-021-007, 19.11 g/t of gold over 7.40 metres; UGOD-021-002, 5.24 g/t of gold over 17.04 metres; UGOD-026-010, 17.57 g/t of gold over 8.64 metres; and UGOD-016-051, 28.66 g/t of gold over 6.62 metres. Infill drilling in 2022 continues to demonstrate remarkable grade and width continuity in the East Gouldie mineralized zone, with indicated resource drilling meeting or exceeding the grade and width of the reported inferred resource, validating the inferred resource estimate. With twelve surface diamond drill rigs active on East Gouldie, as well as four underground drill rigs on Odyssey South, ongoing drilling is expected to convert a significant portion of the 2021 year-end inferred mineral resource to indicated mineral resources for 2022 year-end reporting. As well, drilling is expected to significantly expand the inferred resource envelope. These new indicated resources will provide the basis for updated technical studies in 2023 that will allow definition of mineral reserves for the Odyssey underground project over the next few years, starting at the end of 2022. Wasamac Exploration Update: Wasamac is a development-stage underground gold project located 15 kilometres west of Rouyn-Noranda in the prolific Abitibi-Témiscamingue region of the mining-friendly province of Quebec. The project is well located, adjacent to the Trans-Canada highway and 100 kilometres west of the Company's Canadian Malartic mine. Three drill rigs continue to advance the infill drilling and exploration programs during 2022. Exploration activities progressed as planned during the second quarter, with the focus continuing to be placed on infill drilling of the Wasamac resource, increasing confidence in the current resource model and converting inferred resources to indicated, as well as advancing geotechnical studies. To date in 2022, completed infill drilling consists of 29,753 metres in 47 drill holes. Results since mid-2021 continue to confirm or exceed expected grades and widths within the resource area, suggesting good opportunities to increase reserves within and adjacent the known mineralized envelope. Infill drilling highlights from the quarter include the following uncut, estimated true width intervals: WS-22-570, 5.70 g/t of gold over 9.74 metres, including 10.44 g/t of gold over 3.50 metres; WS-22-566, 5.88 g/t of gold over 11.05 metres, including 2.26 metres grading 19.55 g/t of gold; WS-22-568, 5.45 g/t of gold over 16.80 metres, including 14.90 g/t of gold over 3.23 metres and including 13.78 g/t of gold over 1.58 metres; and WS-22-589, 5.05 g/t of gold over 54.06 metres, including 7.09 metres grading 18.18 g/t of gold.