Yamana Reports Securityholdings of Trident Gold Resulting From a Qualifying
TORONTO, ONTARIO -- (Marketwire) -- 02/15/13 -- YAMANA GOLD INC.
(TSX:YRI)(NYSE:AUY)(LSE:YAU) ("Yamana" or "the Company") reports that
in connection with the completion of the qualifying transaction
("Qualifying Transaction") of Trident Gold Corp. ("Trident"),
formerly Andor Mining Inc. ("Andor"), the Company holds ownership and
control over 3,822,814 common shares ("Shares") and 2,915,503
warrants ("Warrants") of Trident, representing approximately 11.38%
of the issued and outstanding Shares of Trident and 18.46% after
giving effect to the exercise of the Warrants. Yamana acquired the
securities pursuant to the transaction exemption in section 2.11 of
National Instrument 45-106 Prospectus and Registration Exemptions.
The deemed price per Share and Warrant was $0.06.
Pursuant to the Qualifying Transaction, Andor acquired all of the
issued and outstanding shares of Trident (the "Trident Shares"), with
the former Trident shareholders (including Yamana) receiving one (1)
common share of Andor for each 10.75 Trident Shares held.
Yamana has no current intention to acquire ownership or control over
additional securities of Trident. It is the intention of Yamana to
evaluate its investment in Trident on a continuing basis and such
holdings may be decreased or increased in the future.
Yamana is a Canadian-based gold producer with significant gold
production, gold development stage properties, exploration
properties, and land positions in Brazil, Argentina, Chile, Mexico
and Colombia. Yamana plans to continue to build on this base through
existing operating mine expansions, throughput increases, development
of new mines, advancement of its exploration properties and by
targeting other gold consolidation opportunities with a primary focus
in the Americas.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news
release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995
and applicable Canadian securities legislation. Except for statements
of historical fact relating to the Company, information contained
herein constitutes forward-looking statements, including any
information as to the Company's strategy, plans or future financial
or operating performance. Forward-looking statements are
characterized by words such as "plan," "expect", "budget", "target",
"project", "intend," "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may"
or "will" occur. Forward-looking statements are based on the
opinions, assumptions and estimates of management considered
reasonable at the date the statements are made, and are inherently
subject to a variety of risks and uncertainties and other known and
unknown factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
These factors include the Company's expectations in connection with
the expected production and exploration, development and expansion
plans at the Company's projects discussed herein being met, the
impact of proposed optimizations at the Company's projects, the
impact of the proposed new mining law in Brazil and the impact of
general business and economic conditions, global liquidity and credit
availability on the timing of cash flows and the values of assets and
liabilities based on projected future conditions, fluctuating metal
prices (such as gold, copper, silver and zinc), currency exchange
rates (such as the Brazilian Real, the Chilean Peso, the Argentine
Peso, and the Mexican Peso versus the United States Dollar), possible
variations in ore grade or recovery rates, changes in the Company's
hedging program, changes in accounting policies, changes in mineral
resources and mineral reserves, risk related to non-core mine
dispositions, risks related to acquisitions, changes in project
parameters as plans continue to be refined, changes in project
development, construction, production and commissioning time frames,
risk related to joint venture operations, the possibility of project
cost overruns or unanticipated costs and expenses, higher prices for
fuel, steel, power, labour and other consumables contributing to
higher costs and general risks of the mining industry, failure of
plant, equipment or processes to operate as anticipated, unexpected
changes in mine life, final pricing for concentrate sales,
unanticipated results of future studies, seasonality and
unanticipated weather changes, costs and timing of the development of
new deposits, success of exploration activities, permitting time
lines, government regulation and the risk of government expropriation
or nationalization of mining operations, environmental risks,
unanticipated reclamation expenses, title disputes or claims,
limitations on insurance coverage and timing and possible outcome of
pending litigation and labour disputes, as well as those risk factors
discussed or referred to in the Company's current annual Management's
Discussion and Analysis and Annual Information Form filed with the
securities regulatory authorities in all provinces of Canada and
available at www.sedar.com, and the Company's Annual Report on Form
40-F filed with the United States Securities and Exchange Commission.
Although the Company has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be
anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. The Company
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates, assumptions or opinions
should change, except as required by applicable law. The reader is
cautioned not to place undue reliance on forward-looking statements.
The forward-looking information contained herein is presented for the
purpose of assisting investors in understanding the Company's
expected financial and operational performance and results as at and
for the periods ended on the dates presented in the Company's plans
and objectives and may not be appropriate for other purposes.
Yamana Gold Inc.
Lisa Doddridge, Vice President,
Corporate Communications and Investor Relations
416-945-7362 or 1-888-809-0925
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