Yamana Gold Receives Permit at Jacobina, Initiating Ramp Up of Phase 2 Expansion, Expects Fourth Quarter Company Wide Production to Exceed 270,000 GEO With Costs Tracking to Be the Lowest of the Year - Seite 3

Fourth Quarter Production Expected to Exceed 270,000 GEO⁽¹⁾ With Fourth Quarter Costs Tracking to be the Lowest of the Year

Operations have maintained the momentum from their strong performances delivered during the third quarter and, in particular, El Peñón and Cerro Moro have had excellent production punctuated by high grades and low costs as planned. With strong performance through November, the Company expects fourth quarter production to exceed 270,000 GEO⁽¹⁾ with annual production expected to exceed overall 2021 guidance of 1,000,000 GEO⁽¹⁾. Fourth quarter AISC⁽²⁾ are expected to be the lowest of the year and are estimated to be approximately $980 per GEO⁽¹⁾ or lower, which is 7% below AISC reported for the prior three quarters.

Qualified Persons
Scientific and technical information contained in this news release has been reviewed and approved by Sébastien Bernier (P. Geo and Senior Director, Geology and Mineral Resources). Sébastien Bernier is an employee of Yamana Gold Inc. and a "Qualified Person" as defined by Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Yamana
Yamana Gold Inc. is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. Yamana plans to continue to build on this base through expansion and optimization initiatives at existing operating mines, development of new mines, the advancement of its exploration properties and, at times, by targeting other consolidation opportunities with a primary focus in the Americas.

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END NOTES

(1)   GEO assumes gold ounces plus the gold equivalent of silver ounces using a ratio of 72.00 for future guidance periods. GEO calculations for actuals are based on an average market gold to silver price ratio for the relevant period.