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Yamana Gold Increases Annual Dividend by Nearly 15% to $0.12 Per Share and Announces Normal Course Issuer Bid; Latest Dividend Increase Represents a Cumulative Increase of 500% in Annual Dividend Since the Second Quarter of 2019

TORONTO, July 29, 2021 (GLOBE NEWSWIRE) — YAMANA GOLD INC. (“Yamana” or the “Company”) (TSX:YRI; NYSE:AUY; LSE:AUY) announces that it has increased…

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TORONTO, July 29, 2021 (GLOBE NEWSWIRE) -- YAMANA GOLD INC. (“Yamana” or the “Company”) (TSX:YRI; NYSE:AUY; LSE:AUY) announces that it has increased its annual dividend by nearly 15% to $0.12 per share.

Shareholders of record at the close of business on September 30, 2021, will be eligible to receive payment of an increased dividend of $0.03 per share on October 14, 2021. The dividend is an “eligible dividend” for Canadian tax purposes.

This is the Company’s sixth dividend increase since the second quarter of 2019 representing a cumulative increase of 500%.

Yamana considers dividends an important component of returns on investment for shareholders, and has previously indicated that its policy is that as its cash flows and cash balances increase, as its balance sheet continues to improve, and as debt service decreases, the Company would evaluate further increases of its dividend. The most recent dividend increase reflects improved cash flows and increased cash balances, along with other realized and anticipated balance sheet and financial improvements. While the Company has relied over the last several years on maintaining certain levels of cash on hand to secure payment of the dividend independently of changes in gold prices, with improvements in cash flows and certainty of modest, manageable annual capital expenses for its growth projects, with the completion of various definitive studies relating to those growth projects, the Company has concluded that it is able to fund its dividend at current or substantially lower gold prices. The Company conducts sensitivities on its capital allocations, including ability to fund and pay dividends, at various gold prices as low as $1,350 per ounce.  

Since late 2006, when the Company first began paying dividends, it has paid more than $1 billion in dividends, which compares very favourably to senior level peers.

Normal Course Issuer Bid

Concurrently, the Company also today announced that it will make a normal-course issuer bid (“NCIB”) to purchase up to 48,321,676 common shares of the Company representing up to 5% of the Company’s current issued and outstanding common shares, in open market transactions through the facilities of the Toronto Stock Exchange (“TSX”), the New York Stock Exchange (the “NYSE”) and alternative Canadian trading systems, subject to TSX approval. The Company will be permitted to make purchases under the NCIB over a period of twelve months commencing on August 4, 2021, and expiring no later than August 3, 2022.

In accordance with TSX rules, any daily purchases on the TSX under the NCIB are limited to a maximum of 654,276 common shares, which represents 25% of the average daily trading volume of the common shares on the TSX for the six months ended June 30, 2021, and, in addition, Yamana will not acquire per day on the NYSE more than 25% of the average daily trading volume for the four calendar weeks preceding the date of purchase, subject, in both cases, to certain exceptions for block purchases.

From time to time, when Yamana does not possess material non-public information about itself or its securities, it may enter into a pre-defined, automatic share purchase plan with its broker to allow for the repurchase of shares at times when the Company ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Any such plan entered into with Yamana’s broker will be adopted in accordance with applicable Canadian securities laws and the requirements of Rule 10b5-1 under the U.S. Securities Exchange Act of 1934, as amended. Outside of these periods, common shares will be repurchased in accordance with management’s discretion, subject to applicable law.

The actual number of common shares that may be purchased and the timing of such purchases will be determined by the Company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors. Any common shares that are purchased under the NCIB will be cancelled.

A copy of the Company’s Notice filed with the TSX may be obtained by any shareholder without charge by contacting the Company’s Senior Vice President, General Counsel and Corporate Secretary.

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.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Investor Relations
416-815-0220
1-888-809-0925
Email: investor@yamana.com

FTI Consulting (UK Public Relations)
Sara Powell / Ben Brewerton
+44 7931 765 223 / +44 203 727 1000

Peel Hunt LLP (Joint UK Corporate Broker)
Ross Allister / David McKeown / Alexander Allen
Telephone: +44 (0) 20 7418 8900

Berenberg (Joint UK Corporate Broker)
Matthew Armitt / Jennifer Wyllie / Detlir Elezi
Telephone: +44 (0) 20 3207 7800

Credit Suisse (Joint UK Corporate Broker)
Ben Lawrence / David Nangle
Telephone: +44 (0) 20 7888 8888

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release contains or incorporates by reference “forward-looking statements” and “forward-looking information” under applicable Canadian securities legislation within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking information includes, but is not limited to information with respect to the Company's intentions to make an NCIB to purchase its common shares and possibly entering into an automatic share purchase plan in the future. 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 a change in plans in connection with the Company possibly entering into an automatic share purchase plan in connection with the NCIB at some point in the future; the number of common shares ultimately repurchased under the NCIB; as well as those risk factors discussed or referred to herein and in the Company's 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, including market conditions, share price and best use of available cash, 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 current intentions in connection with the NCIB and may not be appropriate for other purposes.

(All amounts are expressed in United States Dollars unless otherwise indicated.)


Today’s News

Falcon’s Phase 2 at Spitfire – Sunny Boy Has Commenced

VANCOUVER, BC / ACCESSWIRE / September 22, 2021 / FALCON GOLD CORP. (TSXV:FG)(FRA:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce…

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VANCOUVER, BC / ACCESSWIRE / September 22, 2021 / FALCON GOLD CORP. (TSXV:FG)(FRA:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce an exploration crew have been sent to the high-grade Spitfire-Sunny Boy Project (the "Property") near Merritt, B.C. The Company's first phase announced September 2020 was successful in identifying gold mineralization over a 300m strike length. The Company's second phase is a more aggressive follow up utilizing pack-sack drilling along the Master Vein and parallel mineralized horizons. Highlights of the September 2020 sampling program was a 2.2m channel sample that averaged 59.8 g/t Au which included a 1m channel sample that assayed 122 g/t Au on the Master Vein. Additional highlights are tabled below.

Table of selected assay results from the Spitfire & Sunny Boy Claims 2020 sampling program.

Station ID

Sample #

Sample Type

Width

Assay

Assay

Location

   

(m)

(g/t Au)

(oz/t Au)

 
CH20-01-01

467712

Channel

1.0

122.00

3.56

Master Vein
CH20-01-02

467713

Channel

1.2

7.99

0.23

Quartz stringers
CH20-02-01

467714

Channel

1.0

11.40

0.33

Master Vein
Cliff Vein

467716

Grab

n/a

22.80

0.67

Cliff Vein

The Sunny Boy Project consists of parallel low sulphidation epithermal gold bearing veins. A new potential vein structure, the Cliff Vein, was discovered down slope from the Master Vein, approximately 25 meters lower in elevation. A grab sample of the Cliff vein assayed up to 22.8 g/t Au. To date 5 parallel vein systems have been recorded on the Property. Grab samples are selected samples and not necessarily representative of the mineralization hosted on the property.

Karim Rayani, Chief Executive Officer commented, "We are thrilled to finally send exploration crews to follow up on our original findings from last year. We believe the nature of the veining conforms to a low sulfidation epithermal deposit type model that could host world class gold grades. Our initial phase confirmed the potential of bonanza type gold mineralization. The second phase is a more aggressive follow up testing the vein systems along strike, near surface using shallow drilling. Multiple veins were identified in 2020 and we aim to verify and confirm their high-grade nature along exposed strike lengths."

The Spitfire and Sunny Boy Project

The first recorded discoveries were made on the Spitfire & Sonny Boy claims in 1908, which is currently located in the north-east portion of the property claim block. Most of the early exploration focused on quartz veins that hosted gold, copper and silver. High grade gold values have been reported up to 127 g/t Au and 309 to 514 g/t silver ("Ag") in quartz vein material from underground workings by Quilchena Mining and Development Company Ltd. The high-grade veins have been trenched, pitted, blasted, and drilled but have never been commercially mined. The main showing, Master Vein and hosts high-grade gold mineralization up to 50.53 oz/t as sampled by Ken Sanders, P. Eng in 1974. To the south-west of the Sunny Boy Zone in an area referred to as the "AL" showing soil geochemistry, geophysics (magnetometer/VLF), trenching, sampling and diamond drilling have been performed on the mineralized veins. The best drill result was reportedly 3.77 g/t Au, 0.24 % copper, and 32.9 g/t Ag over 13.4 meters.

The Spitfire & Sunny Boy discovery has been referred to as an epithermal gold deposit by past operators. The gold zones are hosted within the Quesnellia terrane, characterized by submarine volcanic and volcaniclastic rocks of the Nicola group to the south and the Takla group in the north. The gold mineralization and geological setting of the project bear strong similarities to other developed projects in the region such as the epithermal gold deposits, Prospect Valley and Shovelnose, currently being explored by Westhaven Ventures Inc. (Figure 1).

Figure 1. Regional location of the Spitfire-Sunny Boy Project.

Qualified Person

The technical content of this news release has been reviewed and approved by Mike Kilbourne, P.Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The QP and the Company has not completed sufficient work to verify the historic information on the properties comprising the Spitfire-Sunny Boy Property, particularly regarding historical exploration, neighbouring companies, and government geological work.

About Falcon Gold Corp.

Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20 km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off of the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.

The Company holds 7 additional projects. The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Sokoman-Benton's JV, and Marvel Discovery in Central Newfoundland.

CONTACT INFORMATION:

Falcon Gold Corp.

"Karim Rayani"

Karim Rayani 
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: info@falcongold.ca

Cautionary Language and Forward-Looking Statements

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Falcon Gold Corp.



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Today’s News

Golden Dawn Mobilizing Diamond Drill to Lexington Property

Historic Mining Camp Greenwood, BCVANCOUVER, BC / ACCESSWIRE / September 22, 2021 / Golden Dawn Minerals Inc., (TSXV:GOM)(FRA:3G8C)(OTC PINK:GDMRD), ("Golden…

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Historic Mining Camp Greenwood, BC

VANCOUVER, BC / ACCESSWIRE / September 22, 2021 / Golden Dawn Minerals Inc., (TSXV:GOM)(FRA:3G8C)(OTC PINK:GDMRD), ("Golden Dawn" or the "Company"), announces that it is starting to mobilize crews and equipment for drilling the Lexington Property at the Greenwood Precious Metals project in southeastern BC.

Photo of drilling equipment being mobilized.

Golden Dawn is mobilizing crews and equipment to initiate diamond drilling at the Lexington property. Drilling is expected to commence within a few days. The first holes will be located close to the Lexington Mine permit area where there is potential to extend the mineralized zones northwest of the mine. Later drilling will be located southeast of the mine where historic drill intercepts indicate significant copper-gold mineralization along the No. 7 fault zone within which the Lexington deposit occurs.

Map of the Greenwood Precious Metal Project showing the Lexington property (bottom center).

Map showing the No. 7 fault trend of mines and historic intercepts around the Lexington mine.

Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.

Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., President of the Company and a Qualified Person as defined by National Instrument 43-101,

For more details, please see the most recent National Instrument 43-101 Technical Report on the Company's website at www.goldendawnminerals.com.

On behalf of the Board of Directors:

GOLDEN DAWN MINERALS INC.

Per: "Christopher R. Anderson"
Christopher R. Anderson CEO

For further information, please contact:

Golden Dawn Minerals Inc. - Corporate Communications:
Tel: 604-221-8936
Email: Office@goldendawnminerals.com

Forward-Looking Statement Cautions: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company's Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange will not approve the proposed share consolidation, and that the Company may not be able to raise sufficient additional capital to continue its business. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

SOURCE: Golden Dawn Minerals Inc.



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Today’s News

St. James Gold Corp. (TSXV: LORD) Update on 2021 Drilling Campaign at the Florin Project, Yukon Territory, Canada

Drilling focused on expanding the 2.47Moz gold inferred mineral resource at the Florin ProjectSeven out of 18 planned 2021 campaign coring holes drilled…

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  • Drilling focused on expanding the 2.47Moz gold inferred mineral resource at the Florin Project
  • Seven out of 18 planned 2021 campaign coring holes drilled so far
  • Logging shows potential mineralization comparable to logs from previous campaigns
  • Field team locates two historic high-grade adit workings on the property

Vancouver, British Columbia, Sept. 22, 2021 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that the 2021 campaign has been directed towards drilling further mineralization in order to increase the overall 2.47Moz gold inferred resource (2.47-million-ounce inferred gold resource (170,993,000 tonnes grading 0.45g/t Au with a 0.30g/t Au cut-off) at the Florin Project in the Yukon.

The program has focused on areas adjacent to the existing inferred resource in areas where anomalous gold results have been returned from soil sampling in previous seasons.

In spite of only having a week in which to mobilize, late in the field season, the team at Florin have managed to drill 1,275m in seven holes so far, with platforms prepared for another 11 holes in the immediate area of the inferred resource.

Assay results are not expected for several weeks. The summary logs from all these holes describe intervals of fine-grained sulphides hosted in intrusive and meta-sedimentary rocks, typical of the known, mineralized lithologies in the project. Any holes that remain undrilled this season will be prioritized when the field season re-opens in Q2, next year.

In parallel, a prospecting drive has started to map sites of historic artisanal mining identified next to dumps that have yielded gold-bearing grab samples. These areas are under investigation to better understand the mechanisms that concentrate higher grades of mineralization in and around the Florin intrusive.

In the meantime, satellite imagery has been ordered to guide prospecting, mapping and sampling in order to better understand the distribution of mineralization in and around the Florin intrusion.

CEO George Drazenovic, commented: “We are pleased with the start-up progress on the Q3 2021 core drilling campaign at the Florin Project which is targeting areas adjacent to known gold mineralization with the intention of adding ounces to the existing inferred Resource figure of 2.47Moz Au. The prospecting campaign being undertaken in tandem aims to identify new areas of mineralization which will be the target of future drill campaigns along with the West and Treadwell Zones. In the background, we welcome the ongoing support of Resource Geologist Trevor Rabb at Equity Exploration Consultants Ltd. who is consolidating the existing database, ready to include upcoming assay results from this season’s drill campaign”.

The technical information included in this news release has been prepared, supervised, and approved by Dr. Stewart A Jackson, a Qualified Person under National Instrument 43-101, and technical advisor to the Company.

For more corporate information please visit: http://stjamesgold.com/

For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152
Email: info@stjamesgold.com

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Forward looking statements in this news release relate to, among other things: completion of the Offering; the timing and size of the Offering; the timing and receipt of approval from the TSXV for the Offering; the expected use of the net proceeds of the Offering and all other statements that are not historical facts, particularly statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”. Forward-looking statements contained in this news release are made based on reasonable estimates and assumptions made by management of the Company at the relevant time in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. Forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update any such forward-looking statements as a result of new information or if management’s beliefs, estimates, assumptions or opinions change, except as required by law. 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. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s control, which could cause actual results, performance, achievements, and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors outlined in the Company’s Annual Information Form dated July 26, 2021 (the “AIF”) filed under the Company’s profile on SEDAR at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in its AIF on SEDAR are not exhaustive and other factors could materially affect its results.

New factors emerge from time to time, and it is not possible for the Company to consider all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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