Greg
Unfortunately have to post this even tho I am a sh.
Regards, Rick
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: YAMANA RESOURCES INC.
TSE SYMBOL: YRI
AUGUST 28, 1997
Yamana To Continue Fin Del Mundo Project In Southern
Argentina
SPOKANE, WASHINGTON--Yamana Resources Inc. announces that Westmin
Resources Limited has decided not to proceed with its option to
earn an interest in the Fin del Mundo project in Tierra del Fuego,
Argentina. Westmin, which had funded and operated the first season
of drilling on the property, stated, "while encouraging, results
that we obtained in the initial drilling of the main showings are
not sufficient for our continuing the program."
Although disappointed with Westmin's decision after only a limited
3,500-meter drilling program (see May 28, 1997, release), Yamana
COO, Richard R. Walters noted: "There are several very interesting
intercepts from this first-phase drilling which deserve follow-up
drilling. In fact, Westmin's final technical report recommended
about 1,500 meters of additional drilling at two of the three
targets which they had already drilled. We also have six other
targets in this 20-kilometer zone which are untested in any way,
with three of them being ready to be brought forward for
drilling."
Walters also noted that Westmin had spent US$1.8 million on the
project during the past year, leaving Yamana with "a great deal of
geologic and technical information as well as project
infrastructure, including a base camp which we can use in the
coming season."
Walters said that Yamana will continue the program on its own,
although at a reduced scale from the US$1.4 million program which
would have been required of Westmin for the coming season. He said
that a new joint-venture partner will be sought.
Yamana Resources Inc. is a Canadian exploration company holding
interests in 13 projects encompassing more than 95 properties
covering over 36,000 square kilometers (8.9 million acres) in
Argentina, Chile, Paraguay, Papua New Guinea, Indonesia and
Washington state.
FORWARD-LOOKING STATEMENTS
This News Release includes certain Oforward-looking statementsO
within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included in this release,
including, without limitation, statements regarding potential
mineralization and reserves, exploration results, and future plans
and objectives of Yamana, are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated
in such statements. Certain important factors that could cause
actual results to differ materially from YamanaOs expectations
include the uncertain reliability of geophysical and geochemical
data and the interpretation thereof and other factors disclosed
under the heading ORisk FactorsO and elsewhere in YamanaOs
documents filed from time to time with The Toronto Stock Exchange,
the United States Securities and Exchange Commission and other
regulatory authorities. All subsequent written and oral
forward-looking statements attributable to Yamana or persons
acting on its behalf are expressly qualified in their entirety by
this notice.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Yamana Resources Inc.
Greg W. Taylor
Vice President, Corporate Development
(509) 838-6615
(509) 838-0714 (FAX)
E-mail: gwtaylor@yamana.com
yamana.com
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