Yamana Gold Announces Acquisition Of Monarch Gold - Quick Facts

(RTTNews) - Yamana Gold Inc. (YAU.L, YRI.TO, AUY) has agreed to acquire the Wasamac property and the Camflo property and mill from Monarch Gold Corp. through the acquisition of all of the outstanding shares of Monarch not owned by Yamana under a plan of arrangement for consideration, including cash and shares, of approximately C$152 million. The total Yamana consideration is comprised of 0.0376 of a Yamana share and C$0.192 in cash per Monarch share.

Monarch's principal asset is the Wasamac gold underground project. The project has existing proven and probable mineral reserves of 1.8 million ounces of gold at 2.56 grams per tonne.