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Yamana Gold Inc. (AUY) Announces 2008/2009 Operating Outlook and Fourth Quarter Operational Highlights

Yamana Gold Inc. (AUY), headquartered in Toronto, Ontario, Canada, is a leading intermediate gold mining company with significant gold and copper production, gold development stage properties, exploration properties, and land positions in Brazil and Central America. Yamana presently has five producing mines, three development stage properties, and numerous world class exploration concessions.

In 2008, gold production is expected to total up to 1.3M gold equivalent ounces (GEO), and increase to 1.6M gold equivalent ounces in 2009 from mines currently in production and mines under construction. Silver production of approximately 10M ounces for 2008 and 2009 is treated as a gold equivalent.

Yamana remains fully financed for its strategic gold growth plan where enhancements, expansions, improvements and development of existing assets are expected to drive production towards the Company’s objective to produce more than 2.2M ounces of gold in 2012.

For the fourth quarter of 2007, total production from all mines owned by Yamana was approximately 189,000 ounces of gold, 2.5M ounces of silver (approximately 235,000 GEO), along with 30.5M pounds of copper and 835 tons of zinc. For the year-ended December 31, 2007, production totaled approximately 773,000 ounces of gold and 8.6M ounces of silver (approximately 933,000 GEO) along with 123M pounds of copper and 3,500 tons of zinc.

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