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

To: Neil Irwin who wrote (1215)	5/11/1998 5:37:00 PM
From: Greg W. Taylor	Read Replies (1) \| Respond to of 2346

FYI: We are continuing to work on the financing. An announcement is expected on this subject in two weeks or so. Drilling and IP (to identify deeper sulfides) are continuing at Lejano. We have had to stop a couple of times for weather and mechanical problems but we have also boosted the proposed drill program this season from 50-60 holes for 2,500 meters to 70 holes for about 3,000 meters. We started in the undrilled areas northeast of South Ridge -- Red Hill, East Ridge, Broken Hill etc. -- and we then moved down to the South Ridge discovery area. Weather conditions allowing, drilling may go on as late as to May 25. I plan to put out the full results once they are all in and have been examined in context, likely about mid-June. It's been decided that further shallow drilling is not necessary at Bacon, so the next phase there would likely be core drilling beginning in the next season starting in September. This is a geological decision based on the fact that we are confident about the structures at Bacon while Lejano is much more complex. I know there is a high level of interest for further detail but this is all I can offer for now. I hope this helps. Greg

To: Neil Irwin who wrote (1215)	5/12/1998 11:44:00 AM
From: Neil Irwin	Respond to of 2346

FWIW, Abacus released the remaining assay results from their Phase I drilling. The first two holes had been previously released, and had generated some excitement. Of the remaining holes, Hole 3 had the best intercept of 24.1m @ 3.32 g/t AU equivalent. Holes 4, 5, 6, and 7 had only small intercepts or poor grades. Abacus' La Manchuria property is in the same general vicinity of Argentina as Yamana, that is why I am reporting it here. Neil. =-=-=-=-=-=- Drill From To Interval Gold Silver Remarks-distance Hole # (m) (m) (m) (g/t) (g/t) from LM98-2 LM98-1 106.2 117.7 11.5 1.22 136.6 110 m NW LM98-2 45.05 103.07 58.05 6.53 22.3 LM98-3 10.70 34.80 24.10 0.69 131.3 400 m S incl. 10.70 12.20 1.50 1.64 1876.0 and 32.20 33.3 1.10 9.54 222.1 LM98-4 79.85 82.85 3.00 0.83 17.7 330 m E LM98-5 19.54 21.04 1.50 2.18 15.2 470 m E and 64.54 66.04 1.50 1.59 2.9 and 85.94 EOH 13.12 0.28 11.0 LM98-6 7.54 95.20 87.66 0.29 16.3 150 m SE incl 7.54 31.60 24.06 0.33 25.72 LM98-7 No significant assays reported 330 m SW