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Cautionary
Statement All monetary amounts in U.S. dollars unless otherwise stated This
presentation contains certain “forward-looking statements” and
“forward-looking information” under applicable securities laws concerning the
proposed transaction and the business, operations and financial performance
and condition of the combined company, Yamana, Northern Orion and Meridian.
Forward-looking statements and forward-looking information include, but are
not limited to, statements with respect to estimated production and mine life
of the various mineral projects of Yamana, Northern Orion or Meridian;
synergies and financial impact of completed or proposed acquisitions; the
benefits of the acquisitions and the development potential of the properties
of Yamana, Northern Orion and Meridian; the future price of gold, copper,
silver, zinc, molybdenum; the estimation of mineral reserves and resources;
the realization of mineral reserve estimates; the timing and amount of
estimated future production; costs of production; success of exploration activities;
and currency exchange rate fluctuations. Except for statements of historical
fact relating to the companies, certain information contained herein
constitutes forward-looking statements. Forward-looking statements are
frequently characterized by words such as “plan,” “expect,” “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 and estimates of management
at the date the statements are made, and are based on a number of assumptions
and subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
projected in the forward-looking statements. Assumptions upon which
such forward-looking statements are based include Yamana's ability to
successfully complete the Yamana offer and the Northern Orion transaction;
the successful completion of new development projects, planned expansions or
other projects within the timelines anticipated and at anticipated production
levels; the accuracy of reserve and resource estimates, grades, mine life and
cash cost estimates; whether mineral resources can be developed; title to
mineral properties; financing requirements; and general economic conditions.
Many of these assumptions are based on factors and events that are not within
the control of Yamana and there is no assurance they will prove to be
correct. Factors that could cause actual results to vary materially from
results anticipated by such forward-looking statements include changes in
market conditions, variations in ore grade or recovery rates, risks relating
to international operations, fluctuating metal prices and currency exchange rates,
changes in project parameters, the possibility of project cost overruns or
unanticipated costs and expenses, labour disputes and other risks of the
mining industry, failure of plant, equipment or processes to operate as
anticipated, the business of the companies not being integrated successfully
or such integration proving more difficult, time consuming or costly than
expected as well as those risk factors discussed or referred to in the annual
Management’s Discussion and Analysis and Annual Information Form for each of
Yamana, Meridian and Northern Orion filed with the securities regulatory
authorities in all provinces of Canada and available at www.sedar.com, and
the Annual Report on Form 40-F of each of Yamana, Meridian and Northern Orion
filed with the United States Securities and Exchange Commission and available
at www.sec.gov. Although Yamana 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.
Yamana undertakes no obligation to update forward-looking statements if
circumstances or management’s estimates or opinions should change except as
required by applicable securities laws. The reader is cautioned not to
place undue reliance on forward-looking statements. Statements concerning
mineral reserve and resource estimates may also be deemed to constitute
forward-looking statements to the extent they involve estimates of the
mineralization that will be encountered if the property is developed.
Comparative market information is as of a date prior to the date of this
presentation.
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