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YAMANA GOLD ANNOUNCES FIRST QUARTER 2011 RESULTS

FIRST QUARTER CONFERENCE CALL

Q1 Conference Call Information:

                Toll Free (North America): 888-231-8191
                            International: 647-427-7450
                Participant Audio Webcast: www.yamana.com

    Q1 Conference Call REPLAY:
    --------------------------

                 Toll Free Replay Call (North America): 800-642-1687,
                 Passcode 55286145 followed by the number sign
                 Replay Call: 416-849-0833, Passcode 55286145 followed by the
                 number sign

The conference call replay will be available from 12:15 p.m. ET on May 4, 2011 until 11:59 p.m. ET on May 18, 2011.

Annual Meeting of Shareholders

The Annual Meeting of Shareholders will take place on Wednesday, May 4, 2011 at 11:00 a.m. ET at the Four Seasons Centre for the Performing Arts, located at 145 Queen Street West, Toronto, Ontario, Canada. The main entrance is located at the southeast corner of Queen Street West and University Avenue.

For those unable to attend the meeting in person, a live audio webcast and slide presentation can be accessed from Yamana's website.

Via Webcast:

Live Audio Webcast:

www.yamana.com

For further information on the conference call or audio webcast, please contact the Investor Relations Department or visit our website, www.yamana.com.

About Yamana

Yamana is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions in Brazil, Argentina, Chile, Mexico and Colombia. Yamana plans to continue to build on this base through existing operating mine expansions, throughput increases, development of new mines, the advancement of its exploration properties and by targeting other gold consolidation opportunities with a primary focus in the Americas.

MINE BY MINE OPERATING SUMMARY:

    -------------------------------------------------------------------------
    Chile

                                   Gold       Silver      Gold       Silver
                      Ore         Grade        Grade    Recovery    Recovery
    El Penon       processed       g/t          g/t        (%)         (%)
    -------------------------------------------------------------------------
    Q1 2011          358,013        6.91       227.8        92.0        79.9
    -------------------------------------------------------------------------
    Total 2010     1,522,366        5.74       228.5        91.2        84.1
    Q4, 2010         366,424        6.94       229.2        91.3        79.5
    Q3, 2010         396,209        5.48       216.8        90.8        83.3
    Q2, 2010         392,223        4.97       216.3        92.0        87.1
    Q1, 2010         367,509        5.64       253.3        90.4        86.3

    Minera
    Florida
    -------------------------------------------------------------------------
    Q1 2011          232,284        3.78        35.2        84.6        68.7
    -------------------------------------------------------------------------
    Total 2010       779,836        4.41        33.4        83.7        67.8
    Q4, 2010         214,859        4.68        45.1        84.7        70.6
    Q3, 2010         207,834         4.3        39.2        84.2        67.0
    Q2, 2010         204,512        4.27        21.2        82.0        66.1
    Q1, 2010         152,631        4.38        25.2        84.6        67.2
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    Chile
                                              Gold        Gold         Cash
                      Gold      Silver     Equivalent  Equivalent      costs
                     Ounces     Ounces       Ounces      Ounces         per
    El Penon        Produced   Produced     Produced      Sold         GEO(1)
    -------------------------------------------------------------------------
    Q1 2011           73,568   2,111,482     115,798     114,803       $ 397
    -------------------------------------------------------------------------
    Total 2010       256,530   9,427,208     427,934     431,665       $ 428
    Q4, 2010          74,785   2,145,809     113,800     114,403       $ 421
    Q3, 2010          63,417   2,298,731     105,212     108,204       $ 461
    Q2, 2010          57,351   2,372,380     100,485     102,324       $ 449
    Q1, 2010          60,977   2,610,289     108,437     106,739       $ 384

    Minera
    Florida
    -------------------------------------------------------------------------
    Q1 2011           23,986     182,453      27,635      26,798       $ 476
    -------------------------------------------------------------------------
    Total 2010        94,585     606,071     105,604     102,819       $ 416
    Q4, 2010          27,787     234,339      32,048      30,525       $ 479
    Q3, 2010          24,337     182,332      27,652      27,667       $ 425
    Q2, 2010          23,543      95,249      25,274      23,020       $ 370
    Q1, 2010          18,918      94,151      20,630      21,608       $ 363
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------



    -------------------------------------------------------------------------
    Brazil
                                                                      Cash
                                Gold    Gold      Gold      Gold      costs
                    Ore        Grade  Recovery   Ounces    Ounces      per
    Chapada      processed       g/t      (%)   Produced    Sold      GEO(1)
    -------------------------------------------------------------------------
    Q1, 2011     5,088,739      0.32      64.7    33,392    33,395   ($2,615)
    -------------------------------------------------------------------------
    Total 2010  19,195,578      0.35      62.3   135,613   127,450   ($2,073)
    Q4, 2010     4,757,679      0.37      64.9    36,965    31,421   ($2,863)
    Q3, 2010     5,246,202      0.38      63.4    40,405    35,591   ($1,856)
    Q2, 2010     4,873,077      0.32      60.7    30,450    32,881   ($1,583)
    Q1, 2010     4,318,621      0.34      60.0    27,794    27,557   ($1,876)


    Jacobina
    -------------------------------------------------------------------------
    Q1 2011        529,035      1.91      93.5    30,319    31,537    $  611
    -------------------------------------------------------------------------
    Total 2010   2,158,097      1.89      93.2   122,160   121,405    $  535
    Q4, 2010       542,055      2.06      94.1    33,718    33,530    $  495
    Q3, 2010       570,799      1.95      93.8    33,637    32,517    $  463
    Q2, 2010       556,376      1.79      93.0    29,785    29,110    $  534
    Q1, 2010       488,865      1.73      91.9    25,022    26,249    $  687


     Fazenda
    Brasileiro
    -------------------------------------------------------------------------
    Q1 2011        205,389      1.93      88.2    11,252    12,891    $  968
    -------------------------------------------------------------------------
    Total 2010   1,110,204      2.22      88.6    70,084    72,316    $  628
    Q4, 2010       275,184      2.53      89.4    19,852    18,822    $  705
    Q3, 2010       279,734      2.14        89    17,161    19,208    $  620
    Q2, 2010       273,706      2.36      88.2    18,333    15,801    $  559
    Q1, 2010       281,579      1.84      87.3    14,738    18,485    $  622
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------



    -------------------------------------------------------------------------
    Argentina
                                                                      Cash
                                Gold    Gold      Gold      Gold      costs
                    Ore        Grade  Recovery   Ounces    Ounces      per
    Gualcamayo   processed       g/t      (%)   Produced    Sold      GEO(1)
    -------------------------------------------------------------------------
    Q1 2011      1,896,533      0.95      66.4    37,597    34,665    $  507
    -------------------------------------------------------------------------
    Total 2010   7,528,690      0.82      67.8   135,140   141,734    $  506
    Q4, 2010     1,818,571      0.89      69.5    36,239    36,649    $  662
    Q3, 2010     1,982,929      0.87      57.8    31,972    38,660    $  480
    Q2, 2010     1,940,939      0.85      70.4    37,467    30,283    $  427
    Q1, 2010     1,786,251      0.68      76.0    29,462    36,142    $  443


    Alumbrera
    -------------------------------------------------------------------------
    Q1 2011      1,131,995      0.45      69.3    11,374    11,412    (1,452)
    -------------------------------------------------------------------------
    Total 2010   4,509,332      0.46      73.0    50,656    48,940    (1,404)
    Q4, 2010     1,160,601      0.50      76.0    14,061    12,951    (1,556)
    Q3, 2010     1,102,574      0.42      72.8    11,370    10,095     ($993)
    Q2, 2010     1,117,957      0.43      69.9    11,470    15,638   ($1,938)
    Q1, 2010     1,128,200      0.51      72.2    13,755    10,256   ($1,142)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------



    -------------------------------------------------------------------------
                                                                      Cash
                                                                      costs
                               Copper                                  per
                    Ore         ore    Copper    Copper     Copper    pound
    Copper       processed     grade  Recovery  produced     Sold       of
    Production    (tonnes)      (%)     (%)     (M lbs.)   (M lbs.)   copper

    Chapada
    -------------------------------------------------------------------------
    Q1, 2011     5,088,739      0.39      87.1      38.5      29.7    $ 1.21
    -------------------------------------------------------------------------
    Total 2010  19,195,578      0.41      86.5     149.4     143.8    $ 1.17
    Q4, 2010     4,757,679      0.44      86.2      39.9      39.6    $ 1.20
    Q3, 2010     5,246,202      0.43      86.8      42.8      43.5    $ 1.14
    Q2, 2010     4,873,077      0.39      87.2      37.0      31.6    $ 1.13
    Q1, 2010     4,318,621      0.36      85.5      29.7      29.1    $ 1.24


    Alumbrera
    -------------------------------------------------------------------------
    Q1 2011      1,131,995      0.39      73.1       7.1       7.1    $ 1.85
    -------------------------------------------------------------------------
    Total 2010   4,509,332      0.50      82.0      38.7      37.0    $ 1.29
    Q4, 2010     1,160,601      0.40      81.0       9.3       9.0    $ 1.37
    Q3, 2010     1,102,574      0.40      82.2       8.3       7.7    $ 1.53
    Q2, 2010     1,117,957      0.44      81.4       9.3      12.1    $ 1.52
    Q1, 2010     1,128,200      0.54      84.7      11.8       8.2    $ 0.89
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

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