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Yamana Gold completes $414 million acquisition of Extorre Gold

August 2012
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On August 22, 2012, Yamana Gold Inc. (TSX: YRI) (NYSE: AUY) (LSE: YAU) announced the completion of the company's previously announced agreement to acquire all issued and outstanding shares of Extorre Gold Mines Limited (NYSE-MKT: XG; TSX: XG; Frankfurt: E1R). The transaction was completed by way of a statutory plan of arrangement under the Canada Business Corporations Act.

Shareholders of Extorre voted overwhelmingly in favour of the transaction at the special meeting of shareholders held on August 15, 2012 and Extorre received final court approval on August 21, 2012. The transaction value on a basic shares outstanding basis was approximately $414 million.

Extorre is a junior mining company with exploration and development stage precious metals projects in Argentina, the most advanced of which is its Cerro Moro project in the province of Santa Cruz.

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.

Gowlings was counsel to Extorre in this transaction with a team led by Cyndi Laval and including James Isaac, Catherine Graham, Yong-Jae Kim and Ryan Welsh (corporate/M&A/securities), Brent Kerr and Esther Bergh (tax) and Jonathan Van Netten (litigation).

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