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Monument Bay (Au)

LOCATION: Manitoba, Canada
OPERATOR: Yamana Gold Inc.

In June 2015, Yamana acquired Mega Precious Metals Inc. and the Monument Bay property, which is located in Manitoba, approximately 570 km northeast of Winnipeg adjacent to the Ontario border. Monument Bay consists of 136 contiguous claims and hosts a Measured and Indicated Mineral Resource base of 1.79 million ounces of gold in 36.6 million tonnes grading 1.52 g/t. Franco-Nevada holds a 2% NSR royalty on the first 1.0 million ounces produced and a 3% NSR on any additional production. In September 2018, Yamana signed an Exploration Agreement with Red Sucker Lake First Nations in relation to the Monument Bay exploration site. Mineral Resources for Monument Bay demonstrate a large mineralized envelop with higher grade plunging mineralized shoots that continue at depth. In 2020, Yamana plans to focus on exploring these high-grade extensions and on targets surrounding the Twin Lakes shear zone, an area believed to host considerable opportunities for resource expansion. Reverse circulation drilling yielded additional targets on the property and exploration has been expanded to these areas for follow-up drilling. Yamana plans to establish a new Mineral Resource and conceptual mine plan in 2020, considering both open-pit and underground options.