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Gold/Mining/Energy : Yamana Resources INC. T- YRI -- Ignore unavailable to you. Want to Upgrade?

To: Roughrider who wrote (836)	1/28/1998 7:09:00 PM
From: Greg W. Taylor	Read Replies (1) \| Respond to of 2346

Roughrider: Yes, the IR budget's been cut sharply, along with all other budgets. Some detail is available in the quarterly on our Home Page. This includes detail in the quarterly as well as the press release I put out two weeks ago noting that we are actively drilling in Santa Cruz Vanguardia, Argentina. We've had more goods results from there and I expect to have more results within four to six weeks. Having our own drill there, as well as the past reconnaissance work, we've got a number of good targets which we can drill quite quickly. What we are doing at the moment is focusing on near surface results, doing RC prospecting holes. We are working at Lejano right now (or at least we were a couple of days ago) in an area where we have had very good silver results in the past. Yamana has always had the good-news/ bad-news situation of having a diverse portfolio. Now, we are focusing the majority of our exploration efforts on this SCV project which is the place where we have the most cost-effective chance of seeing near-term results. How good is the prospect? I've not hyped before and I'll not start now. I will say, however, that this is one of the best areas in Argentina and Argentina is an area where there is a tremendous amount of interest on the part of exploration companies. I've said before I don't KNOW why we have not yet done a deal here. However, what I DO know is that virtually no deals are being done on properties that are at this stage of development & very few other deals are being done right now by anyone. The market is showing ticks of coming back but no more than that. As a result, we ARE drilling... we are working on possible deals... we are conserving cash... and we are interested in getting more money so that we can expand our exploration efforts. International Pursuit is doing well now, as they have been for a while. I wish them nothing but the best. I hope this helps. Greg