FOR: YAMANA GOLD INC.
TSX SYMBOL: YRI
NYSE SYMBOL: AUY
LSE SYMBOL: YAU
November 5, 2007
Yamana Gold Completes Formal Offer for Meridian Gold; Acquires Approximately 90% of Meridian Shares
TORONTO, ONTARIO--(Marketwire - Nov. 5, 2007) - YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY)(LSE:YAU) today announced
that it has taken up and accepted for payment an additional 13.3 million common shares of Meridian Gold Inc. as
part of the ordinary course extension of its offer. Together with the approximately 78 million shares
previously taken up and accepted for payment, Yamana now owns 90,813,237 million shares, representing
approximately 90 percent of the outstanding common shares of Meridian.
Yamana offered to acquire all of the outstanding common shares of Meridian on the basis of C$7.00 cash plus
2.235 Yamana common shares for each Meridian share. The Yamana offer commenced on July 19, 2007 and expired at
12:00 am (EST) on November 2, 2007.
Yamana expects to complete its acquisition of Meridian in the ordinary course through a plan of arrangement in
which Meridian common shares not acquired under the Yamana offer will be acquired for the same consideration as
under the Yamana offer as is customary in transactions of this sort. Upon completion of the arrangement,
Meridian will become a wholly-owned subsidiary of Yamana. Yamana expects to complete the plan of arrangement by
Yamana is a Canadian gold producer with significant gold production, gold development stage properties,
exploration properties, and land positions in Brazil, Argentina and Central America. With the purchase of
Meridian Gold, the company now also owns mines and properties in Chile, Mexico and the United States. Yamana is
producing gold at intermediate company production levels in addition to significant copper production. Yamana's
management plans to continue to build on this base through the advancement of its exploration properties and by
targeting other gold consolidation opportunities in the Americas.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" and "forward-
looking information" under applicable Canadian securities laws. Except for statements of historical fact,
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 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
Northern Orion, Meridian and Yamana 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, Northern Orion and
Meridian 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 and Meridian filed with the United States
Securities and Exchange Commission. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mansfield Communications Inc.
Yamana Gold Inc.
Vice President, Investor Relations
Yamana Gold Inc.