Yamana's Meridian to explore for gold in region II

Tuesday, September 2, 2008

Torontonian Yamana Gold's (TSX: YRI) Minera Meridian subsidiary in Chile, which it acquired last year, submitted an EIA for a US$3mn project to explore a yellow metal deposit in the Amancaya area of region II.

Minera Meridian, previously Meridian Gold, said in the EIA it plans to carry out 86,485m of RC and diamond drilling at Amancaya in 300 drill holes with an average depth of 280m.

Meridian's main asset is the 460,000oz/y El Peñón gold mine also in region II. Yamana anticipates that by year-end the mine will reach a run rate of 500,000oz/y.

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A company representative was not immediately available to provide further information on the exploration campaign.

Yamana also owns the Florida mine in central Chile, which produces concentrates containing gold, silver and zinc.